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. 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 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 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 Read more…
RBI has relaxed norms for making online transactions through Cards. So you are not required to authenticate your transaction on uber/ paytm or other online sites upto Rs.2000 once you have given prior permission. Although Banks are required to take consent 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, Read more…
With the withdrawal of the legal tender status of ₹ 500 and ₹ 1,000 denomination bank notes (Specified Bank Notes – SBNs) from November 9, 2016, there has been a surge in deposits relative to the expansion in bank credit, 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 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) Read more…
Bank Rate Rate at which RBI lends to commercial banks. This tool is used by central bank for short-term purposes. Increase in Bank Rate by RBI is indication to banks to increase lending and deposit rates. Repo Rate Rate at Read more…