Viral Acharya: New RBI Deputy Governor
Dec29

Viral Acharya: New RBI Deputy Governor

Dr. Viral V. Acharya has been appointed as new Deputy Governor of RBI, who will join on January 20, 2017. Currently Dr. Acharya is C.V. Starr Professor of Economics, Department of Finance, New York University – Stern School of Business. 1974 born Economist Dr. Acharya has interest in singing and poetry (which you can guess from the pic). The new RBI Deputy Governor has composed at least 10 songs including Yadon Ke Silsele and Kya Yeh...

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Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016
Dec17

Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016

The Government of India announced the “Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS)”. This Scheme is applicable to every declarant under the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016. The terms and conditions of thePradhan Mantri Garib Kalyan Deposit Scheme are as under: Eligibility for Deposits — The deposits under this Scheme shall be made from the 17th day of December, 2016 till 31st day of...

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Don’t Stand in Bank Queue, get token from your Mobile
Dec12

Don’t Stand in Bank Queue, get token from your Mobile

Fed up with standing in Bank Queues? Wouldn’t it be great if you visit the branch only when it is your turn? Now, you can get a token for bank services before visiting Bank Branch. State Bank of India, the largest Bank in India has made this possible through a mobile App.  Yes, State Bank of India has launched a mobile App ‘State Bank No Queue’, through which you can get a virtual token before visiting the branch. So...

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How to send money using *99# (USSD)
Dec07

How to send money using *99# (USSD)

After the announcement of demonetization by PM Modi, need for going cashless and digital has increased. Today, there are various methods available for transacting cashless such as Credit/ Debit Cards, e-wallets, Prepaid Cards, UPI app besides the traditional banking methods, cheque/ DD/ NEFT/ RTGS etc. One of the option is sending money through USSD. Best of the USSD is that it doesn’t require a smartphone and internet connection....

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Exchange of Soiled and Mutilated Notes – RBI Guidelines
Oct22

Exchange of Soiled and Mutilated Notes – RBI Guidelines

A Gist of of RBI guidelines regarding Facility for Exchange of Soiled Notes and exchange of mutilated Notes by Banks is given below: Facility for exchange of notes and coins at bank branches All branches of banks in all parts of the country are required to provide following customer services, without any discrimination on all working days, so that public does not approach the RBI Regional Offices for this purpose: (i) Issuing fresh /...

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Interest on PPF & other Small Saving Schemes Decreased
Oct04

Interest on PPF & other Small Saving Schemes Decreased

Interest on PPF has been reduced by 0.10% w.e.f. 1st October 2016 from 8.10% to 8.00%. Besides PFF, rate of Interest on small saving schemes have been decreased by 10 basis points for the third quarter of FY 2016-17 i.e., 1st October 2016 to 31st December 2016. You may like: When will 11th bipartite settlement be completed (see past trend) In  February 2016, Government of India Decided that rate of interest on small saving schemes...

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