All India Bank Officers’ Confederation (AIBOC) has issued a circular, clarifying the progress made in respect of 11th Bipartite Settlement, which is due to be implemented with effect from 01.11.2017 See: 11th bipartite settlement latest news. AIBOC advised that the members should ignore the confusion created through social media that there is no Read more…
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 Read more…
On 8th November, 2016, PM Modi suddenly announced scrapping of 500 and 100 notes and entrusted the responsibility to bankers. To curb corruption. To stop terrorist funding. To unearth Black money. Responsibility was shouldered on Bankers. As they have done always created history in implementing various schemes launched by Prime Read more…
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 — Read more…
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 Read more…
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 Read more…
According to media reports, State Bank of India and Punjab National Bank are exploring possibilities to move out from 11th Bipartite Settlement. SBI and PNB are exploring to move to performance linked variable pay structure. SBI is looking to give stock option plans to its employees to retain talent. Punjab Read more…
Guarantee cover for manufacturing and service Mudra Units is available under CGFMU as well as CGTMSE eligible. So, from where to obtain guarantee cover for such Mudra Units? CGTMSE of CGFMU? Credit Guarantee Trust for Micro & Small Enterprises (CGTMSE) has issued circular (117/2016-17) regarding modifications due to introduction of Read more…
Limitation period for recovery of Debt in India is governed by the Limitation Act, 1963. The Limitation Act, 1963 specifies certain prescribed period within which any suit appeal or application can be made. A banker is allowed to take legal action by filing a suit, prefer an appeal and apply Read more…
When a large manufacturer needs a ₹400 crore working capital limit — more than any single bank wants to take on alone — lenders have two choices: pool together under a consortium arrangement or each bank lends independently under multiple banking. Both result in the same borrower getting funded. But Read more…