Charge on stocks & book debts machinery is also required to be filed with CERSAI. CERSAI, vide their notification dated 18/05/2016 has made it mandatory to file/ satisfy security transactions secured movables, intangibles and immovable other than equitable mortgage. Earlier security interest by way of mortgage of Immovable Properties were Read more…
Looking for Financle Commands used for banking? Finacle is one of the widely used CBS package in banking Industry, which is command based. Finding and remembering finacle commands is not an easy task. To help bankers to easily find financle commands here is the list of Finacle Commands (Finacale Menu Options). You Read more…
11th Bipartite Settlement (Bank Wage Revision) is due on 1st November 2017. Government had already written to Banks and IBA on 12.01.2016. Despite the initiative taken by Finance Ministry, there is no progress shown by Bank employee Bank employees unions and officers associations on issue of 11th Bipartite Settlement. Public Read more…
See: Expected DA for February 2017 to April 2017 Increase in Dearness Allowance for Bank Employees for November 2016 to January 2017 is 2.30%. [See Actual DA for November 2016 to February 2017 to see scale wise Chart of DA and calculations] This article was updated on 31.08.2017 Expected increase Read more…
FEDAI has issued guidelines regarding joint holding in NRO accounts with residents. The guidelines have been issued by FEDAI based on clarifications sought from RBI. The FEDAI guidelines are given as under: Joint holding with residents Reference para 7 of schedule 3 of Reserve Bank of India notification number FEMA Read more…
Is TDS eating up your salary and you feel that you get less in hand salary? You would be already aware about the various tax saving instruments (like Deductions Section 80C, 80D or deduction of housing loan interest) but do you know you can save more tax with the a little more Read more…
Here is the comparison of MCLR (Marginal Cost based Lending Rates) rates of all the major banks in India. These MCLR Rates are updated from time to time. Lowest MCLR is of State Bank of India. MCLR Rate is the minimum lending rate and all the loan products are linked to Read more…
Reserve Bank of India on September 1, 2016 issued notification and letter to Credit Information Companies (CIC) to provide one free Credit Information Report (CIR) in a year (January to December). CIBIL (Credit Information Bureau of India Limited) is the leading CIC and most of the banks/ FIs use CIBIL to draw CIRs Read more…
RBI is exploring the possibility of interest free banking in India to improve financial inclusion. According to Annual Report released by RBI: “Some sections of the Indian society have remained financially excluded for religious reasons that preclude them from using banking products with an element of interest. Towards mainstreaming these Read more…
SBI has already approved merger of its associate banks and Bhartiya Mahila Bank. Cabinate has given approval for merger of 5 associate banks with RBI, although no decision about merger of BMB. Here are some facts about the merger and position of SBI post merger: Banks which will be merged Read more…