Tag: Savings

Your money is safe in banks, says PM Narendra Modi on FRDI Bill

Prime Minister Narendra Modi on Wednesday sought to allay the fears of bank account holders, saying their deposits in banks will be safe and their interests would not be harmed in any way.

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Provide doorstep banking to those aged above 70 years by December 31: RBI

Statement on Developmental and Regulatory Policies – October 4, 2017- Banking Facility for Senior Citizens and Differently abled Persons

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Government of India Bans Rupee 500 & Rupee 1000 notes wef 8th Nov 2016

Summary of the important announcement regarding Banning of 500 & 1000 Rupee Note : 1. Black money issue, 500 rupees and 1000 rupees banned from Midnight. 2. ATM’s wouldn’t wouldn’t work on 9th and 10th November. Rather the withdrawal limit is Rs. 2000 only. 3. All Residents have option till 30th December 2016, to deposit…

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Negative Interest Rate

What is Negative Interest Rate?DEFINITION of ‘Negative Interest Rate Policy (NIRP)’ A negative interest rate policy (NIRP) is an unconventional monetary policy tool whereby nominal target interest rates are set with a negative value, below the theoretical lower bound of zero percent.A negative interest rate means the Central Bank and perhaps private banks will charge…

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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…

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