Difference between first Charge and 2nd Charge and pari passu charge has been explained in this article. Meaning of Charge in Banking: Evidence of a lien or mortgage that secures the repayment of a loan. So when we say, charged Read more…
Public Sector Bank Employees were on strike today, which was called by United Forum of Bank Unions (UFBU). C H Venkatachalam, General Secretary, All India Bank Employees’ Association said that around 85,000 branches of commercial banks, 105,000 branches of co-operative Read more…
There were rumors in the public that new currency notes of denominations of Rs.500 and Rs.200 having something scribbled on them are not legal tender. Various incidence of branches of some banks not accepting, if there is scribbling on currency Read more…
Salient Features of Clean Note Policy by RBI: Do away with stapling of note packets Introduce banding the packets with paper/polythene bands so that the life of the currency notes is increased. The objective of the Reserve Bank’s Clean Note Read more…
1. Who are behind the Bharat QR code MasterCard, American Express, National Payment Corporation of India (NPCI) and Visa have collaborated to promote acceptance of the Bharat QR payment method. 2.How to generate QR code for receiving payment You can Read more…
The latest initiative to promote digital transaction, Bharat QR Code platform has been launched for making payment directly through bank without using physical debit or credit card at merchant outlets. MasterCard, American Express, National Payment Corporation of India (NPCI) and Read more…
What is the Banking Ombudsman Scheme? The Banking Ombudsman Scheme provide forum to bank customers for resolution of complaints relating to banking services. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by Read more…
The law related to gratuity is governed by Payment of Gratuity Act. And to increase the Gratuity Limit, Payment of Gratuity Act will be amended by Parliament. The Gratuity Act amendment is yet to take place. There is no Payment Read more…
United Forum of Bank Unions (UFBU) has decided to go on one day all India Strike on 28th February 2017. Schedule of program to be followed is: 13.02.2017 Press Release at all State Capitals and major centres (Common Press Note Read more…
Actual DA for Bank Employees from February 2017 will decrease by 0.90%. With the release of CPI data for the month of December 2016, we have now calculated DA for Bank Officers and workman Staff. (Read how DA for Bank Employees is calculated) Read more…