The Income Declaration Scheme, 2016 - Reserve Bank of India(RBI) requested to issue instructions to banks to allow payment of tax under the Scheme in cash and to allow deposit of cash over the counter. The Income Declaration Scheme, 2016 provides an opportunity to persons who have not paid full taxes in the past to come forward and declare their undisclosed income and assets. … [Read more...] about The Income Declaration Scheme, 2016
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RBI
Recovery of excess payments made to pensioners
Recovery of excess payments made to pensioners RESERVE BANK OF INDIA WWW.rbi.org.in RBI/2015-16/340 DGBA.GAD.NO.2960/45.01.011/2015-16 March 17,2016 The Chairman/chief Executive Officer All Agency Banks Dear sir, Recovery of excess payments made to pensioners We have been receiving complaints from pensioners stating that the recovery of excess/wrong pension … [Read more...] about Recovery of excess payments made to pensioners
7th Pay Commission award to stoke inflation, push up GDP: RBI report
7th Pay Commission award will put an upward pressure of 1-1.5 per cent on inflation, but is expected to boost GDP by around 40 bps during the current fiscal, RBI said in a report today. At the same time, the central bank remained confident of meeting its March 2017 retail inflation target of 5 per cent. “Assuming that the government implements the 7th Pay commission … [Read more...] about 7th Pay Commission award to stoke inflation, push up GDP: RBI report
Reserve Bank of India has issued a circular on Payment of Agency Commission on pension accounts.
RBI has clarified that agency banks are being compensated at Rs. 65 per transaction for handling pension computation, payment and related services on behalf of Central and State Governments up to 14 transactions per year. So, splitting up transaction for earning more commission by banks is not permitted. Reserve Bank circular on Payment of Agency Commission on pension … [Read more...] about Reserve Bank of India has issued a circular on Payment of Agency Commission on pension accounts.
Payment of Agency Commission on pension accounts – RBI Circular on 21.1.2016
Payment of Agency Commission on pension accounts – RBI Circular on 21.1.2016 Reserve Bank Of India RBI/2015-16/294 DGBA.GAD.No.2278/31.12.2010/2015-16 January 21,2016 The Chairman & Managing Director/ The Chief Executive Officer All Agency Banks Dear Sir/Madam Payment of Agency Commission on pension accounts As you may be … [Read more...] about Payment of Agency Commission on pension accounts – RBI Circular on 21.1.2016
June 30th is the last date to exchange pre-2005 Currency Notes including the denominations of Rs.500 and Rs.1000
June 30th is the last date to exchange pre-2005 Currency Notes including the denominations of Rs.500 and Rs.1000. Deposit Pre-2005 Currency Notes in Your Bank Accounts before June 30, 2015: RBI urges Public Soliciting cooperation from the public in withdrawing these notes from circulation, the Reserve Bank of India has urged them to deposit the old design notes in … [Read more...] about June 30th is the last date to exchange pre-2005 Currency Notes including the denominations of Rs.500 and Rs.1000
Sukanya Samriddhi Account – RBI’s Instructions for Banks
Sukanya Samriddhi Account - Application Form - Passbook: RBI's Instructions RESERVE BANK OF INDIA RBI/2014-15/494 IDMD(DGBA).CDD.No.4052/15.02.006/2014-15 March 11, 2015 Dear Sir/Madam, Sukanya Samriddhi Account We forward herewith a copy of the Government of India Notification No. G.S.R.863(E) dated December 02, 2014 regarding the Sukanya Samriddhi Account for … [Read more...] about Sukanya Samriddhi Account – RBI’s Instructions for Banks
Auction for Sale of Government Stocks
Auction for Sale of Government Stocks Ministry of Finance 03-February, 2015 The Government of India have announced the Sale (re-issue) of (i) “8.27 per cent Government Stock 2020” for a notified amount of Rs. 2,000 crore (nominal) through price based auction, (ii) “8.15 per cent Government Stock 2026” for a notified amount of Rs.5,000 crore (nominal) through price based … [Read more...] about Auction for Sale of Government Stocks
Bank Charges for Non-Home Branch Customers
Bank Charges for Non-Home Branch Customers Reserve Bank of India (RBI) has informed that they have advised Scheduled Commercial Banks, vide their circular dated 01.07.2013 to follow a uniform, fair and transparent pricing policy and not to discriminate between their customers at home branch and non-home branches. If a particular service is provided free at home branch, the … [Read more...] about Bank Charges for Non-Home Branch Customers
Aadhaar Card as Address Proof
Aadhaar Card as Address Proof Reserve Bank of India (RBI) has notified that the Aadhaar Card is a valid proof for opening of a bank account under the Know Your Customer (KYC) scheme. RBI vide its circular dated 28.09.2011 has advised banks to accept the Aadhar letter issued by Unique Identification Authority of India (UIDAI) as an officially valid document for opening … [Read more...] about Aadhaar Card as Address Proof
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