How to make best out of small savings rate cuts

Experts believe that the transmission will be more in the coming months. “We expect the 10-year yield falls to around 7% by December because RBI may cut 50 to 75 bps before December,” said Sivakumar. And since small savings rates are linked to market rates now, it is also expected to come down further in…

Government reduces interest rates on Small Savings Scheme

FLASH: Govt cuts interest rate on small savings scheme- Public Provident Fund to 8.1% from 8.7%; on Kisan Vikas Patra to 7.8% from 8.7%.Interest on 5 years Senior Citizen Scheme too reduced from 9.3% to 8.6%, Sukanya Samridhi Scheme interest rates reduced to 8.6% from existing 9.2%. Interest on 5years deposits reduced from 8.5 %…

Periodicity of Interest on Domestic Savings Deposits

Reserve Bank has issued Master Direction on Interest Rate in Deposits vide its Direction ” RBI/DBR/2015-16/19Master Direction DBR. Dir. No.84/13.03.00/2015-16 ” dated 3rd March 2016. The said directions spell uniform guidelines for payment of interest rates on various deposits as regards its rates. periodicity, premature withdrawals etc on domestic as well as NRE and FCNR(B) deposits. One…

National Automated Clearing House(NACH)

ECS will be replaced with NACH from 01/04/2016. Kindly ensure that all ECS payment to be made through till 31/03/2016. NACH stands for National Automated Clearing House. National Payments Corporation of India (NPCI) has implemented “National Automated Clearing House (NACH)” for Banks, Financial Institutions, Corporates and Government a web based solution to facilitate interbank, high…

Frequently Asked Questions (FAQ’s)

Dear All,I have today posted a Link from RBI site on Frequently asked Questions about Banking, NBFC’s, Foreign Exchange, Currency, Government Securities Market and Payment Settlement etc. Under Study Materials for IBPS PO/Clerk and Bank Promotion Aspirants. All are requested to follow the said link in order to satisfy their queries on the aforesaid subjects.…

Six or more anchor banks likely to lead consolidation

Govt. expected to identify state-run banks by October 31   The government will identify six to ten public sector banks which will drive the consolidation process among the state-owned banks, according to bankers. Called the anchor banks, they will be identified by October 31, 2016, the bankers told The Hindu. Large lenders like State Bank of…

Interview Tips for IBPS Specialised Officers

Interview Tips for IBPS Specialised OfficersDear Friends, I have posted Interview Tips for IBPS SO all streams viz, IT, HR, Marketing & Agriculture on Study Materials page. Kindly take note of same as the Interviews are scheduled from 14th March 2016.Follow Link: Interview Tips IBPS-SO

Gyan Sangam 2

The government has roped in top executives from the private sector for the brainstorming sessions at Gyan Sangam 2.0, the two-day retreat of public sector banks that kicked off in Gurgaon on Friday, primarily aimed at consolidation and bad loan management in the sector. The conclave, organised by the Finance Ministry, has been divided into…

Budget 2016: Your guide to personal tax

Budget 2016: Your guide to personal taxProposal: Increase the rate of surcharge on income exceeding Rs 1 crore to 15 per cent from 12 per cent. Impact: This will raise the maximum marginal rate of tax to 35.54 per cent from 34.61 per cent on the ‘super-rich. Proposal: Increase limit for tax rebate to Rs 5,000 from Rs…

RBI brings Capital Treatment of Banks’ Balance Sheet Items in closer Alignment with Basel Framework

RBI brings Capital Treatment of Banks’ Balance Sheet Items in closer Alignment with Basel Framework”The RBI has made some amendments to the treatment of certain balance sheet items for the purposes of determining banks’ regulatory capital. The review was carried out with a view to further aligning the definition of regulatory capital with the internationally…