10th Bipartite settlement- Outcome of Talks held today
10th Bipartite settlement /Joint note dated 07.01.2015. Outcome of Talks held today at Mumbai. Discussions continued today with IBA. UFBU insisted on further increase over 12.5%. IBA wanted some more time. Sub committees formed to deal with other issues like medical scheme, 5day banking, regulated working hours, pension issue etc. Next meeting to be fixed…
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DRI loan Scheme for low income groups
DRI loans scheme (also known as DIR loan scheme) was introduced in the year 1972 to financially assist chosen low income groups. The loan scheme envisages lending by banks to weaker section of the society at a uniform concessional rate of interest of 4% per annum. The borrowers under this category of loan are rural…
Read articleNew MDs and CEOs for 4 state run banks
Centre has separated the posts of Chairman and Managing Director (CMD) in nationalised banks. It has also appointed Managing Directors (MD) for four banks, and they will also be designated as Chief Executive Officer (CEO).The four new MDs and CEOs are P Srinivas (United Bank of India), Animesh Chauhan (Oriental Bank of Commerce), R Koteeswaran…
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How International Card transactions takes place through White Label ATM?
White Label ATMs (WLAs) are the ATMs owned by non-banking entities. These ATMs do not display the logos of any bank. Bank Customers can withdraw money from debit cards/credit cards/prepaid cards issued by the banks at WLAs but they have to pay fee for the service provided to them. The WLAs are now allowed to…
Read articlePublic can exchange old notes till June 30,2015
The Reserve Bank of India (RBI) has granted additional six months for exchanging currency notes printed before 2005. The public can do so till June 30, 2015. Earlier, the RBI had set January 1, 2015 as the last date for exchange of these notes.
What is window dressing in balance-sheet or in profit and loss account?
Window dressing in accounting is the practice of manipulating financial statements to make a company appear more financially healthy than it actually is. It’s a short-term strategy that companies use to attract investors, consumers, and clients. Let us study here how a balance sheet can be window dressed. Window dressing in balance-sheet: Date of balance sheet…
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