RBI releases FAQs on Cash withdrawal from POS terminals
RBI on Tuesday (May 5, 2020) issued FAQs on cash withdrawal from Point of sale (POS) terminals with the following information for general guidance purposes. The cash withdrawal facility at POS terminal is made available at merchant establishments designated by the acquirer banks (i.e. the banks that deploy the PoS terminals) after a process of…
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Bad Loans (NPA) in Banks: Why do we have this state of affairs?
The BSR-1 released by RBI at every quarter shows that small borrowal accounts the credit limit up to ₹ 0.2 million constitute only a share of 7.3 percent in total outstanding credit of the banks. From the above stats, we may infer that it is the large borrowers who have been heavily damaging banking industries…
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How an account of Executor or Administrator opened in the bank?
A WILL is made by an individual in order to circumvent any litigation amongst his heirs in respect of the distribution of his assets after his death. The WILL surpasses the succession law on inheritance and the beneficiary of the WILL (in whose name property is bequeathed) only is entitled to receive his/her share specified…
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RBI Governor held meeting with MD/CEOs of banks to discuss on three months moratorium
Today (May 2, 2020), RBI Governor Shaktikanta Das held meeting with the MD/CEOs of major public and private sector banks in two separate sessions through video conference. The meetings were attended by Deputy Governors and other senior officers of RBI. The move comes after an apex court direction to the regulator that the intended beneficiaries…
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DA chart of Bank Officers for the quarter of May-July 2020
On the basis of CPI data announced by the Labour Bureau for the period of January 2020 to March 2020, the average index number works out to 7486 (base 1960=100) or 761slabs(76.10%) for the above period. It means bank employees and officers are entitled to an increase of 2 slabs (0.20%) for the ensuing quarter…
DA chart of bank clerical staff for the quarter of May -JULY 2020
On the basis of CPI data announced by the Labour Bureau for the period of January 2020 to March 2020, the average index number works out to 7486 (base 1960=100) or 761slabs(76.10%) for the above period. It means bank employees and officers are entitled to an increase of 2slabs (0.20%) for the ensuing quarter of…
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