Minimum insurance cover for owner driver rose to Rs.15 lakh
The insurance regulator IRDA directed all the general insurers to provide a minimum capital sum of Rs.15 lakh under compulsory personal accident cover for owner-driver under Liability Only to all classes of vehicles at the premium rate of ₹750 per annum for annual policy. Under Section lll of Package Policies/ Bundled Covers on payment of…
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Government hikes interest rate on Small Savings schemes by 30 to 40 basis points
(PPF & NSC to give 8%, Senior citizen to get 8.7%) The Ministry of Finance Government of India has announced the Rates of Interest on various Small Savings Schemes for the Third Quarter of the Current Financial Year 2018-19 starting 1st October, 2018, and ending on 31st December, 2018. The Small Savings Schemes includes include…
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Leave rules for Bank Officers and Employees
In the 11th BPS dated 11.11.2020 signed by workmen unions and 8th Jt.Notes signed by Officers’ associations on the same day, certain visible improvements brought in the Leave Rules. Please click the below post to know the updated leave rules as per the 11th BPS Improvements in Leave rules of Banks effective from 11.11.2020 Download…
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Bank Officers’ fitments/stagnation increments as per 10th BPS/Joint notes
Bank Officers’ fitments/stagnation increments as per 10th BPS/Joint notes The stages of basic pay to officer cadres of banks as per 10th BPS/Joint note is as under. Scale I- 23700-980(7)- 30560 -1145(2) -32850 -1310 (7)- 42020 (Plus stagnation increments as per chart) Scale II-31705- 1145(1)- 32850 -1310(10) -45950 (Plus Stagnation increments as per chart) Scale…
Government decides to merge Dena Bank, Vijaya Bank and Bank of Baroda
The department of financial services secretary Rajiv Kumar said government has decided to merge Dena Bank with Vijaya Bank and Bank of Baroda and the boards of three banks have been told to consider the amalgamation. The finance minister Arun Jaitley Talking on bank merger, said boards of Dena Bank, Vijaya Bank and Bank of…
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