Depositors to get claim up to Rs 5 lakh from DICGC in 90 days of bank failure
Union Cabinet today (July 28, 2021) approved an amendment to the Deposit Insurance Credit Guarantee Corporation (DICGC) Bill to provide account holders access to up to Rs 5 lakh funds within 90 days of bank failure, Finance Minister Nirmala Sitharaman announced. Finance Minister Nirmala Sitharaman on Wednesday announced that the Union Cabinet cleared the amendment…
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The Lakshmi Vilas Bank Ltd. to operate as DBS Bank India Ltd.from November 27, 2020
Today,Reserve Bank Of India in a Press Release announced the merger of Lakshmi Vilas Bank with DBS Bank. The announcement said that the “Government of India has today sanctioned the Scheme for the amalgamation of the Lakshmi Vilas Bank Ltd. with DBS Bank India Ltd.” According to the report, the amalgamation will come into force…
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LTC cash voucher scheme announced: All you need to know about how the scheme beneficial to you
The Finance Minister of India Mrs.Nirmala Sitharaman, in a press conference today, announced a scheme offering tax-exempt payment of leave travel concession/allowance to encourage government and private sector employees to spend more and generate demand. FM also announced that the Govt to give Rs 10,000 special festivals advance to all its employees as a one-time…
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RBI releases strategic approach ‘GUARD’ for UCBs in tier-wise cybersecurity guidelines
The Reserve Bank of India has today placed on its website the “’ Technology Vision for Cyber Security’ for Urban Co-operative Banks (UCBs) – 2020-2023”. The Technology Vision Document aims at enhancing the cybersecurity posture of the Urban Co-operative banking sector against evolving IT and cyber threat environment. The Central Bank laid down a set…
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Supreme Court extends bank loan repayment moratorium till September 28
Today (September 10, 2020), a bench of Justices Ashok Bhushan, R Subhash Reddy and M R Shah posted the matter of extension of loan moratorium for further hearing on September 28 and said that the court expects that the government and RBI actively consider all the issues and file the affidavit and place before it…
Here are a few things you need to know about newly launched doorstep banking
Finance Minister Nirmala Sitharaman on Wednesday (September 09, 2020) launched doorstep banking services for public sector banks in order to facilitate hassle-free and convenient banking to Senior Citizen and those in the ‘divyang’ (differently-abled) category. The move is part of the EASE reforms to make banking easier and accessible. The salient features of new services…
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