Finance minister has approved revision in CGM level post in public sector banks. Earlier, the CGM (Chief General Manager) post was permitted in select banks, however, finance ministry has now allowed the it in all public sector banks irrespective of size of business. CGM is a scale VIII level designation Read more…
Working Capital is a financial indicator of operational liquidity of a business organization. Working Capital is the short term assets to cover the short term liabilities of the organization. Working Capital is calculated as Current Assets – Current Liabilities, also represented as Net Working Capital. The Working Capital Ratio or Read more…
Meaning of pari passu charge – Pari-passu is a Latin phrase, which means “equal footing”. Thus pari passu charge means, having equivalent charge/ rights or say charge-holders have equal rights over the asset on which pari pasu charge is created. “Pari Passu” charge means that when borrower company goes into Read more…
Letter of Credit (LC) and the ‘Standby Letter of Credit’ (SBLC) are used by Importers and Exporters in International Trade to ensure financial safety so that payment of the supplier is assured of payment once he has performed his obligation. While LC is used as a primary method of payment, Read more…
CGTMSE or Credit Guarantee Trust for Micro & Small Enterprise is a Trust, which provide guarantee to lending institutions (such as banks) to lend to Micro & Small Enterprises without Collateral Security. In simple terms, if you want to avail a loan upto Rs.5 Crores from a Bank for your Read more…
Bankers in India are asking for 5 days banking for more than a decade now. Where some countries are now shifting to 4 days work week, India’s bank employees even do not see a hope of 5 days work week. Even the new labour code is talking about permitting four Read more…
As per AIBOC Circular dated 13.09.2023, the officers’ associations today, submitted a Supplementary Charter of Demand to the IBA incorporating many more points based on the current scenario in the industry. The Supplementary Charter of Demand is as under: • For sickness of “Special Child”, sick leave should be sanctioned Read more…
DA for Bankers is expected to increase for the quarter May 2023 to July 2023. CPI data for the month of January 2023 has been released, which is 132.80. Dearness Allowance for Bank Employees is 588 slabs, which translates to 41.16% for the present quarter of February to April 2023. Read more…
If you’re a banker, you know that staying up-to-date on industry trends and best practices is crucial to your success. One way to do this is by reading books that provide insight and guidance on the world of banking. In this post, we’ll recommend a few must-read books for bankers Read more…
DA for Bankers is increased for the quarter February 2023 to April 2023. CPI data for the month of October, November and December 2022 has been released, which is as under: October 2022 132.50 November 2022 132.50 December 2022 132.30 Read: How to pass JAIIB in first attempt Read: Charter Read more…