Based on the CPI for last quarter, DA for the bank employees will incrase by 3.50% (35 slabs) Revised DA will be @ 45.50%, for the months of August 2016 to October 2016, which was 42% for the month of May to July 2016. Scalewise and slabwise details of existing/ revised Read more…
RBI/2016-17/33 DBR.No.Leg.BC.3/09.07.005/2016-17 August 04, 2016 All Scheduled Commercial Banks (Including RRBs) Dear Sir/ Madam, Dishonour of cheques – Modification in procedure Please refer to our circular DBOD.BC.Leg.No.113/09.12.001/2002-03 dated June 26, 2003 and paragraph 11.4 (i) of RPCD.CO.RRB.BC.No.100/03.05.33/2013-14 dated May 12, 2014 wherein banks were advised to introduce a condition for Read more…
A Pakistani hacker attacked Canara Bank’s website and tried to block the bank’s e-payment services. The hacker calls himself Faisal. Canara Bank has filed an FIR with Cyber Crime Department of the police and diverted the traffic from main server to standby server. No loss has been reported by the Read more…
Different type of bank accounts a Non Resident Indian (NRI) can open and maintain in India, their features and benefits are: Non-Resident Ordinary Rupee Account (NRO Account) May be in the form of Saving Account, Current Account, Recurring Deposit or Fixed Deposit. Resident can be a joint holder with NRI Read more…
Credit Card is a widely used method of payment these days, as it allows to shop now and pay later. So, in way, you postpone the actual payment of your expenditure or shopping. All the spending of the month is billed and you are required to pay the credit card Read more…
RBI/2015-16/428 DBR.BP.BC.No.105/21.06.001/2015-16 June 23, 2016 All Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Dear Sir, Reporting Requirements under Basel III Capital Regulations- Review Please refer to the Annexures 3 and 4 of the Master Circular DBR.No.BP.BC.1/21.06.201/2015-16 dated July 1, 2015 on Basel III Capital Regulations in terms Read more…
RBI/2015-16/429 DBR.BP.BC.No.106/21.07.001/2015-16 June 23, 2016 All Scheduled Commercial Banks (excluding Regional Rural Banks) Madam / Dear Sir, Implementation of Indian Accounting Standards (Ind AS) Please refer to circular DBR.BP.BC.No.76/21.07.001/2015-16 dated February 11, 2016 on the captioned subject in terms of which banks have been directed to be in preparedness to Read more…
RBI/2015-16/432 DBR.CID.BC. 107/20.16.056/2015-16 June 23, 2016 All Scheduled Commercial Banks All India Financial Institutions Credit Information Companies Dear Sir / Madam Reporting of Information on Investment in Commercial Papers and Unhedged Foreign Currency Exposures of the Borrowers to Credit Information Companies Please refer to our circular DBOD.No.CID.BC.127/20.16.056/2013-14 dated June 27, Read more…
RBI/2015-16/422 DBR.No.BP.BC.103/21.04.132/2015-16 June 13, 2016 All Scheduled Commercial Banks (Excluding RRBs), All-India Term-lending and Refinancing Institutions (Exim Bank, NABARD, NHB and SIDBI) Non-Banking Financial Companies Securitisation Companies/ Reconstruction Companies Scheme for Sustainable Structuring of Stressed Assets In order to strengthen the lenders’ ability to deal with stressed assets, Reserve Bank Read more…
With the rise in Non Performing Assets of Public sector banks, Asset Reconstruction Companies (ARCs) have gained importance now a days. Various Public Sector banks are having stakes in ARC for example the largest ARC, Asset Reconstruction Company (India) Limited is sponsored by State Bank of India and includes stake Read more…