How much Foreign Currency permitted to carry abroad?
Aug20

How much Foreign Currency permitted to carry abroad?

Dealings in foreign exchange transactions in India is governed by the Foreign Exchange Management Act, 1999. In this article, we have explained that How much currency can a person take with him while travelling abroad and in which form. Total Foreign Currency remittance from India is allowed upto USD 2,50,000 per financial year under Liberalized Remittance Scheme (LRS).   In terms of FEMA Guidelines, Tourists/ Travellers going...

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Different types of mortgage – Equitable mortgage and Registered mortgage
Aug20

Different types of mortgage – Equitable mortgage and Registered mortgage

Equitable mortgage is most common type of mortgage in India. What is mortgage and what are other types of mortgage and how these are different is explained in this article. What is mortgage? Mortgage is defined in Transfer of Property Act, 1882, Section 58: A mortgage is the transfer of an interest in specific immovable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an existing or...

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Quarterly results of public sector banks for June 2017.
Aug12

Quarterly results of public sector banks for June 2017.

We are giving a comparison of quarterly results of all major public sector banks in India.   Indian Overseas Bank Tops the list in terms of NPA, having net NPA of 14.97% and reported loss of Rs.499.09 crores for the quarter ending June 2017.   Uco Bank reported highest loss of Rs.663.02 crores and has 10.63% net NPA.   SBI’s Net Interest Income is Rs.17,606 crores and Net profit is Rs.2005 crores. After SBI, PNB has...

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Useful books for Bankers
Aug09

Useful books for Bankers

These are some of the useful books for bankers to enhance their skills in banking. Credit Appraisal, Risk Analysis & Decision Making This book contains comprehensive material on credit appraisal, to help the officials in commercial banks and financial institutions. It features – analysis of financial statements, profit & loss and balance sheet items explained, window dressing techniques, spreadsheet, forecasting and cash...

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DA for Bank Employees from August 2017
Jul31

DA for Bank Employees from August 2017

Dearness Allowance has increased by 2.20% for Bank Employees for the period August 2017 to October 2017. In other words, there is increase of 22 slabs in DA for bankers. (Read how DA for Bank Employees is calculated). READ  Summary of Charter of demand for 11th Bipartite Settlement READ  Merger News - Canara Bank to merge Vijaya Bank & Dena Bank DA for bankers is based on Consumer Price Index (CPI) for the month of April,May...

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Public Sector Banks’ poor rating in Customer Service
Jun22

Public Sector Banks’ poor rating in Customer Service

In the BCSBI Code Compliance Rating 2017, no public sector bank except IDBI Bank has been rated as ‘High’ on customer service. RBL Bank, a new private bank has been rated highest in customer service with total score 95 while IDBI Bank is only public sector bank in top 10. In the list of 12 banks, rated as ‘high’ Standard Chartered Bank, Yes Bank and Citi Bank are at no. 2, 3 & 4. State Bank of India is at...

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