Bank Dearness Allowance For Sub-Staff from Nov 2020 to Jan 2021
The Labour Bureau announced index number (IW) for the period of July 2020, August 2020 and September 2020 as under July 2020 August 2020 September 2020 336 (Base year 2001=100) 338 (Base year 2001=100) 118 (Base year 2016=100) Based on the CPI announced, the average index number works out to 7633 (base 1960=100). It means…
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Hereafter Payment system providers should make QR codes interoperable: RBI
The Reserve Bank of India (RBI) on Thursday released guidelines to make QR codes interoperable to Streamlining QR Code infrastructure. The central bank said payments companies, which use more than one QR code, must shift to one or more interoperable QR codes by 31 March 2022. The above decision was taken by the Central Bank…
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What is the time limit to dispose of a complaint under the consumer protection act 2019?
In our previous article ‘How to file a complaint in consumer court?’ We have explained the procedures for lodging a complaint in Consumer Courts either online or offline. We have also explained about the establishment of the Central Consumer Protection Authority and, ‘Product Liability’ clause where a manufacturer or product service provider or product seller…
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Govt asks banks to credit back the compound interest on loans before 5 November
On Friday (October 23, 2020), the finance ministry announced the details of the implementation of the waiver of ‘interest on interest’ on loans of up to Rs 2 crore for the six-month moratorium that was rolled out to mitigate the hardship of borrowers hit by the coronavirus pandemic. The Government also announced that those who…
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CPI-IW revised from the base year 2001 to 2016: Does it impact your salary or pension?
The Union government on Thursday revised the base year for computing Consumer Price Index (Industrial Workers) (CPI-IW) from the present 2001 to 2016 after a gap of 15 years. Presenting the report on the base revision of Consumer Price Index for Industrial Workers (CPI-IW) to 2016=100 from existing 2001=100, Union Labour Minister Santosh Kumar Gangwar…
All you need to know about your entitlements on retirement from bank service
Traveling Allowance, baggage and other expenses On retirement, an officer will be eligible to claim Traveling Allowance, baggage and other expenses for himself and his family as on transfer from the last station at which he is posted to the place where he proposes to settle down on retirement. Shifting household belongings to where he…
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