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Generate the Virtual ID of Your Aadhaar Number following the guidelines below. UIDAI has enabled the creation of Virtual ID and started accepting for address update on their platform. They have also confirmed that it will be compulsory for all agencies that undertake authentication to accept the Virtual ID from their users from June 1, 2018. […]
The Central Bureau of Investigation (CBI) filed charges against former chairman and managing director R K Dubey over allegations of providing about Rs 68 crore loan to Delhi-based jewellery company, Occasion Silver Pvt Ltd, which fell under Quick Mortality Assets and turn bad within a year of the bank giving it the loan. Charges were […]
CGTMSE Coverage extended to Retail Trade & Collateral Loans also – Now Retail Trades & partial collateral loans may be covered under Credit Guarantee Scheme of CGTMSE. A decision in this regard taken under “Rebooting CGTMSE” organized by Ministry of MSME and CGTMSE on February 20, 2018. Following modifications were recommended for implementation : Charging Annual […]
The Payment of Gratuity Amendment Bill and The Specific Relief Amendment Bill passes in Lok Sabha under chaos. The Gratuity bill be now placed in Rajya Sabha for approval. Passing of Gratuity bill will enable the Central government to provide tax-free gratuity of Rs 20 lakh to the organised sector workers including Public Sector Bank […]
Post PNB Fraud, a lot of fuss for privatizing PSB’s by many industrialists, CEO’s of various companies, bureaucrats; it times for RBI governor to veil pitch for Public Sector Bank’s privatization. He said that [box type=”info” align=”aligncenter” ]The government should decide what to do with public sector banks (PSBs) if it wanted to optimize the use […]
Post Punjab National Bank (PNB) Fraud the Reserve Bank of India (RBI) has banned the use of letters of undertaking (LoUs) and letters of comfort (LoCs). RBI has issued the fresh directives on issuance of LoUs and LoCs for Banks in India. Banning of instruments may raise the cost of imports by up to half a percentage […]
The finance ministry under Enhanced Access and Service Excellence (EASE) programme has directed all state-run banks to publish the names and photographs of all wilful defaulters on their websites. Earlier, The government has asked all state-run banks to examine non-performing loans of more than Rs 50 crore for any sign of fraud. What is RBI’s New […]
The country’s largest lender, State Bank of India has reduced charges for non-maintenance of Average Monthly Balance (AMB) in savings accounts by nearly 75 per cent. The charges for non-maintenance of AMB for customers in Metro and Urban centers have been reduced from a maximum of Rs 50 per month to Rs 15 per month. Semi-Urban […]
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