DA chart for bank employees’ special allowance from August to October 2020
On the basis of CPI data announced by the Labour Bureau for the period of April 2020 to June 2020, the average index number works out to 7540 (base 1960=100) or 775-slabs(77.50 %) for the above period. It means bank employees and officers have entitled dearness allowance to an increase of 14slabs (1.40%) for the…
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Fortunes Shifting in favour of the Farm Sector: RBI Governor
Today, RBI Governor Shakti Kant Das while addressing the members of the National Council of the Confederation of Indian Industry, touched upon five such major dynamic shifts that are underway in the Indian economy. They are (i) fortunes shifting in favour of the farm sector; (ii) changing energy mix in favour of renewables; (iii) leveraging…
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Guidelines on seeking information under RTI act
[One can seek information under RTI Act- 2005 from any Public Authority (government organization or government aided organization). Application can be made through online platform or on a plain sheet of paper (handwritten or typed)]. Right to Information (RTI) Acts 2005, popularly known as RTI Act under which any citizen of India may request information…
Read article GNPA of Scheduled Commercial Banks may drastically increase by March 2021: RBI report
Today (July 24), in its 21st issue of the Financial Stability Report (FSR), the Reserve Bank said that their assessment made by Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability reflects a combination of fiscal, monetary and regulatory interventions on an unprecedented scale has ensured normal functioning of financial…
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Blanket suspension of Insolvency and Bankruptcy Code (IBC) for a period of six months may extend
The government of India promulgated an ordinance to suspended initiation of fresh insolvency proceedings for a period of six months to shield companies impacted by the outbreak of Covid-19. Ministry of Finance has announced that the Insolvency & Bankruptcy Code (“IBC”) proceedings under Section 7, 9 and 10 would be suspended for a period of…
Bank wage revision meeting held on 22.07.2020
This is the official version of the broad understanding reached between IBA and constituents of UFBU in the 11th BPS meeting held on July 22, 2020. Source:Message from UFBU Convenor
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