Category Archives: Finance

7.75% Savings (Taxable) Bonds Launched by Govt of India : Should you Buy ?

By | January 5, 2018

7.75% Savings (Taxable) Bonds Ministry of Finance GOI announces launch of 7.75% Savings (Taxable) Bonds, 2018 commencing from 10th January 2018 Posted On: 04 JAN 2018 10:08AM by PIB Delhi Government of India has announced to launch of 7.75% Savings (Taxable) Bonds, 2018 commencing from 10th January 2018 to enable resident citizens/HUF to invest in a taxable… Read More »

Subsidizing MDR charges on Debit Cards/BHIM UPI/AePS : Notification

By | January 4, 2018

Waiver of charges on Debit Cards/BHIM UPI/AePS transactions up to Rs 2000/-. Bank’s Statutory Auditor to certify claim, volume & value of such transactions MINISTRY OF ELECTRONICS AND INFORMATION TECHNOLOGY NOTIFICATION New Delhi, the 27th December, 2017 Subject : Subsidizing MDR charges on Debit Cards/BHIM UPI/AePS transactions of value less than or equal to Rs. 2000/-. No.… Read More »

Be aware of Virtual Currencies and Bitcoin : Indian Govt Advisory

By | December 30, 2017

Ministry of Finance Government Cautions People Against Risks in Investing in Virtual ‘Currencies’; Says VCs are like Ponzi Schemes Posted On: 29 DEC 2017 9:55AM by PIB Delhi The Ministry of Finance has issued the following statement today on Virtual ‘Currencies’. “There has been a phenomenal increase in recent times in the price of Virtual… Read More »

Sovereign Gold Bond Scheme 2017-18 Issue Price 

By | December 16, 2017

Sovereign Gold Bond Scheme 2017-18 Issue Price  Government of India, in consultation with the Reserve Bank of India, had floated Series III of Sovereign Gold Bonds 2017-18, for a period from October 09, 2017 to December 27, 2017 (with subscription period Monday to Wednesday every week). The Bonds will be issued on the succeeding Monday… Read More »

Govt to bear digital transaction Charges of debit card/BHIM UPI/AePS transactions

By | December 16, 2017

Cabinet approves subsidizing MDR charges on debit card/BHIM UPI/AePS transactions of value less than Rs.2000  The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved that the Merchant Discount Rate (MDR) applicable on all debit card/BHIM UPI/ Aadhaar enabled Payment System (AePS) transactions upto and including a value of Rs. 2000 will be… Read More »

Govt clarify Financial Resolution and Deposit Insurance Bil 2017

By | December 7, 2017

Provisions of the Financial Resolution and Deposit Insurance Bill, 2017 meant to protect interests of depositors The Financial Resolution and Deposit Insurance Bill, 2017 (FRDI Bill), introduced in the Lok Sabha on August 10, 2017, is presently under the consideration of the Joint Committee of the Parliament. The Joint Committee is consulting all the stakeholders… Read More »

Bank Chequebook will not be withdrawn

By | November 23, 2017

No Proposal Under Consideration to Withdraw Bank Chequebook Facility  In a section of the media, it has appeared that there is a possibility that the Central Government may withdraw bank cheque book facility in the near future, with an intent to encourage digital transactions. It is denied that there is any proposal under consideration of… Read More »

Sovereign Gold Bonds Scheme, Operational Guidelines (Revised)

By | October 11, 2017

Sovereign Gold Bonds Scheme, Operational Guidelines (Revised) RBI/2017-18/72 IDMD.CDD.No.927/14.04.050/2017-18 October 06, 2017 The Chairman & Managing Director All Scheduled Commercial Banks (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India ltd.(SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bonds Scheme, Operational Guidelines This has reference to… Read More »

APY@eNPS : PFRDA rolls-out Aadhar Powered Digital on Boarding

By | October 10, 2017

PFRDA rolls-out Aadhar Powered Digital on Boarding into APY through eNPS platform for wider reach; Benefits of APY@eNPS include paperless registration; No need to visit Bank Branch & to have Banking Id and 24*7 Online En-rollment at the customer’s convenience.  Pension Fund Regulatory and Development Authority (PFRDA) has embarked upon several digital friendly steps for… Read More »

Highlights of the Economic Survey 2016-17 Volume-2 

By | August 11, 2017

Highlights of the Economic Survey 2016-17 Volume-2 Fiscal Developments   The fiscal outcome of the Central Government in 2016-17 was marked by strong growth in tax revenue, sustenance of the pace of capital spending and a consolidation of non-salary/pension revenue expenditure. This combination allowed the Government to contain the fiscal deficit to 3.5 per cent… Read More »

Pension Scheme for 60 years and above

By | August 8, 2017

Pension Scheme for The Elderly  Government has launched the ‘Pradhan Mantri Vaya Vandana Yojana (PMVVY)’ to provide social security during old age and to protect elderly persons aged 60 and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through… Read More »

New Pension Scheme for senior citizens : PMVVY : Pradhan Mantri Vaya Vandana Yojana

By | July 20, 2017

FM to formally launch Pradhan Mantri Vaya Vandana Yojana (PMVVY) tomorrow; PMVVY is a Pension Scheme announced by the Government of India exclusively for the senior citizens available from 4th May, 2017 to 3rd May, 2018; The Scheme can be purchased offline as well as online through Life Insurance Corporation of India  The Union Minister… Read More »

Subscrie digitally Atal Pension Yojana

By | June 16, 2017

Atal Pension Yojana (APY) can now be subscribed digitally; eNPS Channel (“APY@eNPS) involves complete digital enrolment process Pension Fund Regulatory and Development Authority (PFRDA) has now introduced “APY@eNPS” which involves a complete digital enrolment process. This is the latest in the series of various initiatives taken by PFRDA for expansion of outreach of Atal Pension… Read More »

Financial Resolution & Deposit Insurance Bill 2017 – Govt approves introduction

By | June 14, 2017

Cabinet approves proposal to introduce the Financial Resolution and Deposit Insurance Bill 2017 The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the proposal to introduce a Financial Resolution and Deposit Insurance Bill, 2017. The Bill would provide for a comprehensive resolution framework for specified financial sector entities to deal with… Read More »

Achievements of 5 different Departments under Ministry of Finance, Govt of India

By | June 2, 2017

FM: In last three years, the present Government restored the credibility of the Indian Economy and the Government, introduced market mechanism based decision making process and eliminated the Government discretions among others. The Union Minster of Finance, Defence and Corporate Affairs, Shri Arun Jaitley said that after the present NDA Government came to power in… Read More »

New Functionalities released under National Pension System (NPS)

By | June 2, 2017

New Functionalities released under NPS to provide the ease of operation for the benefit of subscribers and nodal offices. Pension Fund Regulatory and Development Authority (PFRDA) takes various initiatives from time to time in order to simplify and improve the operational issues in National Pension System (NPS) like new functionality development under NPS architecture, simplification… Read More »

Handbook on Project Reports by R.K.Garg – 8th Edition 2017

By | May 28, 2017

Handbook on Project Reports – 2017  by R.K.Garg (Author) About Handbook on PROJECT REPORTS PART I Chapter 1        Project and Environmental Analysis — Some Basic Points Chapter 2        Capital Project — Definition, Characteristics Chapter 3        Capital Projects — Opportunities, Classification, Benefits Chapter 4        Capital Project Cycle, Stages in Project Execution PART II Chapter 5        Detailed… Read More »

Atal Pension Yojana (APY) reaches 53 lakhs subscribers’ base

By | May 26, 2017

Atal Pension Yojana (APY) reaches 53 lakhs subscribers’ base 235 Banks and Department of Post involved with APY implementation 97.5% of the subscribers contributing at monthly intervals; 51.5% subscribers have opted for a monthly pension of Rs. 1000 The subscribers base under the Atal Pension Yojana (APY) has reached about 53 Lakhs. At present 235… Read More »

e-SOT and e-PRAN card launched for Atal Pension Yojana subscribers

By | April 25, 2017

Online Statement Of Transaction (e-SOT) and the e-PRAN card launched for Atal Pension Yojana (APY) subscribers; More than 45 lacs subscribers to be benefitted. With a view to digitally empower the Atal Pension Yojana (APY) subscribers and improve the quality of service, the facility of online viewing of the statement of transaction(e-SOT) and also the… Read More »

Purchase of foreign exchange from foreign citizens and others – RBI restored status quo ante

By | March 31, 2017

RBI/2016-17/263 A.P. (DIR Series) Circular No. 42 March 30, 2017 To All Authorised Persons Madam / Sir, Purchase of foreign exchange from foreign citizens and others Attention of Authorized Persons is invited to the A.P. (DIR Series) Circulars No. 20, 22 and 24 dated November 25, 2016, December 16, 2016 and January 3, 2017 respectively,… Read More »

Guide to Housing Finance – 2017 Edition Book

By | February 22, 2017

Guide to Housing Finance – A Comprehensive and Analytical Commentary on Mortgage Lending  by Vinod Kothari  Guide to Housing Finance is a comprehensive treatise on housing finance and mortgage lending covering all aspects related to it. It examines the legal and regulatory framework governing housing finance in the context of related aspects of basic features… Read More »

Statutory Guide for NBFCs -2017 Edition Book -Taxmann

By | February 21, 2017

Statutory Guide for NBFCs with Law Relating to Securitisation and Reconstruction of Financial Assets (21st Edition 2017) by Taxmann  Also Incorporating Non-Banking Financial Companies Acceptance of public Deposits(Reserve Bank) Directions 2016 Non-Banking Financial Company- Systemically Important Non-Deposit Taking Company and Deposit Taking Company (Reserve Bank) Directions 2016 Non-Banking Financial Company-Non-Systemically Important Non-Deposit Taking Company(Reserve Bank) Directions… Read More »

Investing in Stock Markets -Book- Generic Elective in Commerce (CBCS) (January 2017 Edition)

By | February 12, 2017

Investing in Stock Markets – Generic Elective in Commerce (CBCS) (January 2017 Edition) A Comprehensive, Authentic and well Illustrated book on”Investing in Stock Markets” Paper for Ability Enhancement Elective Course (AEEC) of B.Com. & Generic Elective in Commerce [Three Years (6-Semester)CBCS Programme of Central Universities Throughout India] Simple and lucid presentation of the concepts, procedures… Read More »

Compliance in Banks (2nd Edition 2017) -useful Book for Bank Audit / Banking Students

By | February 12, 2017

Compliance in Banks (2nd Edition 2017) by  INDIAN INSTITUTE OF BANKING & FINANCE Bank regulations subject banks to certain guidelines, stipulations, and restrictions in their day to day operations. This regulatory structure creates transparency between banking institutions and the individuals and corporations with whom they conduct business, among other things. Given the inter-connectedness of the banking… Read More »

Handbook on Debt Recovery (2nd Edition 2017) Book

By | February 12, 2017

Handbook on Debt Recovery (2nd Edition 2017) by : INDIAN INSTITUTE OF BANKING & FINANCE Retail lending forms an important component in the asset portfolios of banks. As commercial banks shifted their focus from traditional need-based lending to a broad- based portfolio, retail lending became a mainstream business. There has been a good growth in consumer loans,… Read More »

Treasury,Investment and Risk Management (2nd Edition 2017) Book by Taxmann

By | February 12, 2017

Treasury,Investment and Risk Management (2nd Edition 2017) by Taxmann This book on Treasury, Investment & Risk Management covers the key strategies of treasury management and a holistic understanding of treasury and risk management concepts and the logic that underpin financial instruments and derivatives. The subject has assumed an increasingly greater importance with the globalisation of Indian… Read More »

Conversion of Kisan Credit Cards into Rupay Cards

By | February 7, 2017

Conversion of Kisan Credit Cards into Rupay Cards Under revised Kisan Credit Card (KCC) Scheme issued by Reserve Bank of India (RBI) and National Bank for Agriculture and Rural Development (NABARD), withdrawal through ATM/Debit Cards has been allowed as one of the delivery channels for the drawal of the drawing limit for the current season/year.… Read More »

Speedy Recovery of Non-Performing Assets (NPAs) of Public Sector Banks

By | February 7, 2017

Speedy Recovery of Non-Performing Assets (NPAs) of Public Sector Banks (PSBs) Non-Performing Assets (NPAs) of Public Sector Banks (PSBs) as on September, 2016 stands at Rs.5,89,502 Crore (11.82%). During FY 2015 and FY 2016 PSBs made total NPA recoveries of Rs.42,542 Crore and Rs.39,986 Crore, respectively. The bank-wise details of recovery of NPAs due to… Read More »

New Benefits for National Pension System Subscribers in Union Budget 2017-18

By | February 2, 2017

New Benefits announced for NPS Subscribers in Union Budget 2017-18 In a bid to provide further impetus to the National Pension System (NPS), the following provisions have been introduced in the Finance Bill 2017 laid down in the Parliament today. Tax-exemption to partial withdrawal from National Pension System (NPS) The existing provision of section 10(12A)of… Read More »

India Post Payments Bank – Saving Account charges and features

By | January 30, 2017

India Post Payments Bank – Saving Account charges and features IPPB – Schedule of Charges (Tariffs are excluding applicable taxes) Banking Services for Everybody: IPPB offers 3 distinct accounts, tailored to suit the requirements of people everywhere. Regular Account – Safal Basic Savings Bank Deposit Account (BSBDA) – Sugam BSBDA Small – Saral ​ While… Read More »

Disinvestment Target and Achievements during 2016-17 of Govt of India

By | January 3, 2017

Disinvestment Target  and Achievements during  2016-17 Government realizes Rs.21,432.38 crore, by end-November 2016, through CPSEs’ disinvestment receipts, constituting around 59.53 % of the Budgeted Target of Rs. 36,000 crore ; Government takes various steps to accelerate the disinvestment process including replacement of annual plan with rolling plans, Fast tracking of approval process and to make… Read More »

Govt of India Achievements under various Schemes including PMJDY

By | January 2, 2017

Achievements made under various Schemes including PMJDY Large scale achievements made under various Schemes including PMJDY; 26.03 crore accounts opened as on 21st December, 2016 under PMJDY out of which 15.86 crore accounts are in rural areas and 10.17 crore in urban areas; Deposits worth Rs. 71,557.90 crore mobilsed under the Scheme; 1,26,985 Bank Mitras… Read More »

Financial Data Management Center Committee Report

By | December 29, 2016

Report of the Committee to study the Financial Data Management Legal Framework in India Department of Economic Affairs Ministry of Finance October 25, 2016 Submitted to Ministry of Finance Government of India 1. Introduction 1.1 The Financial Sector Legislative Reforms Commission (FSLRC) has, inter-alia, recommended the creation of a statutory Financial Data Management Centre (FDMC),… Read More »

ICICI Bank Revised FDR Interest Rate w.e.f 28.12.2016

By | December 29, 2016

ICICI Bank FDR Interest Rate The spree of reduction in interest rates on term deposits continued, with ICICI Bank on Tuesday cutting rates on one- and two-year retail deposits by 10 basis points (bps) to 6.9% and 7%, respectively. The bank also slashed the rate on three-year deposits by 25 bps to 6.75%. ICICI Bank’s… Read More »