Now Banks are eligible to issue Kisan Vikas Patra, 2014
Government of India vide its notification No.G.S.R 705 ( E ) dated 23.09.2014 notified that the new Kisan Vikas Patra 2014 scheme. In terms of above notification the agency banks, which have been authorized for Public Provident Fund, 1968 (PPF 1968) scheme are required to implement issuance of Kisan Vikas Patra 2014 together with Post…
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Small finance bank setup in India
The Small Finance Bank setup in India is similar to a normal banking activities of other commercial banks viz. accepting deposits from the customers for the purpose of lending to unserved and underserved segments across the country. These banks can also sell mutual funds, pensions, insurance and foreign exchange to their customers The permission to…
Read articleIncome Tax slabs,rates and key tax exemption details for A/Y 2015-16
Income Tax Slabs, rates, key tax exemption details for Assessment Year 2015-16 (Financial year 2014-15) For Senior CitizenResident Individuals earning Income less than Rs. 5 Lakh in a Year are eligible for income Tax Credit u/s 87A – i.e.10% of taxable income up to a maximum of Rs. 2000/-.] Education Cess : 3% of the…
Read articleBank Unions call 4 days strike from February 25, 2015
Due to failure of wage revision negotiation between United Forum of Bank Unions (UFBU) and IBA under X Bipartite settlement. IBA improved its earlier offer of salary increase 12.50 % to 13% in the taday’s meeting (03.02.2015 which the unions called unsatisfactory offer. Under the Bipartite settlement wage revision of bank employees and officers once…
Read articleRBI slashes SLR by 50 bps to 21.50% with effect from Feb 7,2015
RBI slashes SLR by 50 bps to 21.50 per cent with effect from February 7, 2015. All other rates remain unchanged. Export Credit refinance (ECR) is replaced with provision of system level liquidity with effect from February 7, 2015. CRR……………………………4% SLR…………………………….21.50% Repo Rate…………………7.75% Reverse Repo Rate……6.75% Marginal Standing Facility Rate….8.75% Bank Rate…………………………………..8.75% Call Rates……………………………………6.40 to8.40%…
How to process ‘Pissiculture Loan’ application
Pissiculture is one of the allied activities classified under priority sector lending. Both term loan and cash credit facilities can be considered under the scheme. The facility is extended by the banks for cost of digging of pond or renovation of existing pond, stocking of spawn/fingerlings of fish, seeds, nets, application of lime cakes, fertilizers,…
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