Bank holidays 2020 declared by Assam Government
The Assam Government declared the following days to be public holidays for the year 2020 under the explanation of section 25 of NI Act 1881. Sr.No Date Day Occasion/Festival 1 15.01.2020 Wed MAGH BIHU 2 26.01.2020 Sunday REPUBLIC DAY 3 09.03.2020 Monday DOLI JATRA 4 13.3.2020, 14.3.2020 15.3.2020 Monday Tuesday Wednesday BOHAG BIHU * 01.04.2020…
Read article Bank Holidays 2020: Himachal Pradesh
The following holidays declared under section 25 of NI Act 1881 by the Government of Himachal Pradesh are applicable exclusively to the banks located within the State of Himachal Pradesh administration. Sr.No Date Day Occasion/Festival Date 1 26.01.2020 Sunday REPUBLIC DAY 2 22.02.2020 Friday MAHA SHIVRATRI 3 10.03.2020 Tuesday HOLI 4 01.04.2020 Wednesday Banks’ Annual…
Read article
Agriculture finance and government initiatives in escalating viable financial services to the sector
Agriculture is back bone of Indian economy which provides employment and livelihood to a large section of the Indian population. As per ILO estimate of 2018, approximately 44% of the working population is employed in the agriculture and allied sector. The vast farming area, diverse agriculture and a large population dependent on agriculture and also…
Read article
Who has to be blamed for deadly trap of rural debts?
[This writing provides insight of internal and external causes of rural indebtedness, challenges before banks and financial institution in rural areas, operation of formal and informal lending system in rural areas and discusses experts’ suggestion on facing high level of delinquency in lending to agriculture sector especially to small and marginal farmers, oral lessees, tenant…
Read article
Asset Reconstruction Companies are barred from Acquisition of financial assets from sponsors and lenders
On Friday (December 6), RBI announced that Asset Reconstruction Companies (ARCs) shall not acquire financial assets, from the following on a bilateral basis, whatever may be the consideration. The above restriction is applicable to the following types of ARCs where; a bank/ financial institution which is the sponsor of the ARC; a bank/ financial institution…
Hedging of foreign exchange risk by residents and non-residents
Pursuant to an announcement made in during February 2019 regarding the review of foreign exchange hedging facilities by non-residents and residents. RBI also issued the draft regulations for public comments proposing to replace the existing directions in Part A – Section I and II of the Master Direction on Risk Management and Interbank Dealing. The…
Read article