RBI permits banks to Set-off of Export receivables against Import payables
RBI permits AD banks to Set-off outstanding export receivables against outstanding import payables from/to the same overseas buyer/supplier. In the Statement on Development and Regulatory Policies dated December 4, 2020, RBI announced greater flexibility to AD banks in the areas like Direct Dispatch of Shipping Documents, / “Write-off” of unrealized export bills,/ Refund of Export…
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Bank Holidays 2021 in the State of Uttarkhand
Calendar of holidays in the State of Uttarkhand for the year 2021 notified under section 25 of Negotiable instrument Act 1881 Sr.No Date Day Occasion/Festival Date 1 26.01.2021 Tuesday REPUBLIC DAY 2 11.03.2021 Thursday MAHA SHIVRATRI 3 29.03.2021 Monday HOLI 2ND DAY 4 01.04.2021 Thursday Banks are closed for public transactions (Annual closing of accounts)…
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RBI offers greater flexibility on ‘write-off’ of unrealized export bills
As announced in Statement on Development and Regulatory Polices dated December 4, 2020, RBI revised extant procedure and delegates the grater flexibility to AD banks in respect of “write-off” of unrealized export bills. The exporter other than the Status Holder Exporter may self-write off 5% of total export proceeds realized during the calendar year proceeding…
Read article Bank holidays 2021 in Puducherry and Karaikal regions
Calendar of bank holidays 2021 in Puducherry and Karaikal regions Sr.No Date Day Occasion/Festival Date 1 01.01.2021 Friday NEW YEAR DAY 2 14.01.2021 Thursday PONGAL 3 15.01.2021 Friday Thiruvalluvar Day/Mattu Pongal 4 26.01.2021 Tuesday REPUBLIC DAY 5 01.04.2021 Thursday BANKS ANNUAL CLOSING OF ACCOUNTS 6 02.04.2021 Friday GOOD FRIDAY 7 24.04.2021 Wednesday TAMIL NEW YEAR…
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Calculate your GRATUITY/Pension/COMMUTATION amount as per the latest Bank wage revision
For calculation of gratuity, pension and commutation of pension or family pension payable to retired employees/officers of the bank pursuant to latest wage revision, the retired staff required to have the last drawn salary details such as Basic Salary, Special Pay (if any) PQP, FPP, stagnation increment (if any) and applicable DA at the time…
Bank Holidays 2021 in the state of Nagaland
List of Holidays 2021 in the state of Nagaland declared under section 25 of Negotiable Instrument Act 1881. Sr.No Date Day Occasion/Festival Date 1 1.1.2021 Friday New Year Day 2 26.01.2021 Tuesday REPUBLIC DAY 3 29.03.2021 Monday HOLI 4 01.04.2021 Thursday ANNUAL CLOSING OF BANK ACCOUNTS 5 02.04.2021 Friday GOOD FRIDAY 6 13.05.2021 Wednesday RAMZAN…
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