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Banking

Bank DA Feb 2016 For Employees

Bank DA Feb 2016 For Employees -  This is expected on projected date of CPI of previous two month that the Dearness Allowance for the bank employees would be 42.60% with increase of 3.40% on previous drawn dearness allowance for the month of Feb 2016 to April 2016. Average CPI for Quarter October, Nov, Dec = 6163.01 Average CPI for Quarter Jul, Aug, Sept 2015 = 6033.64 The Average Dearness Allowance for Feb 2016 = 6163.01-6033.64/4= 28 slabs or 3.40%...

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Income Tax

List of Investment Under Section 80C Of Income Tax

List of Investment Under Section 80C Of Income Tax - The various list of investment which are kept under tax soap are listed below. Any individual may invest under these categories to get rebate under secion 80C of Income Tax subject to maximum Rs 1.5 Lakh only. The various investment avenues under this section are; PPF (Public Provident Fund) EPF (Employees’ Provident Fund) Five year Bank or Post office Tax saving Deposits NSC (National Savings Certificates) ELSS Mutual Funds (Equity...

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Banking News

No Quota in Promotion in PSU Banks

No Quota in Promotion in PSU Banks - Honorable Supreme Court of India has given the verdict on their own decision exactly a year after holding that officers belonging to the Scheduled Castes and Scheduled Tribes (SC/ST) can claim reservation in promotion from level 1 to level VI grade, the Supreme Court on Friday admitted that it had committed a mistake while passing the verdict and clarified that there can be no reservation in promotion. The judgment was delivered on review...

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Deposits

Compare Best Fixed Deposit Rate By Banks ?

Compare Best Fixed Deposit Rate By Banks in India - Fixed deposit is the most easiest and common investment option. Each banks give different interest rate on fixed deposit as per the tenor in India. Compare the best fixed deposit rate given by different banks in India including Nationalized Banks, private and foreign banks. Interest rate paid on fixed deposit are different for various category of customer as per the requirement. The senior citizen are paid approximately 0.50 % extra...

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Banking News

List of Bank Holidays 2016 in India

List of Bank Holidays 2016 in India - Check out the list of Bank Holidays 2016 in India declared by the individual states as per the NI act. The official notification along with the holidays are listed state wise and accepted to Indian Bankers association (IBA). For checking the holidays for bank in 2016, just click on the state. This will open the page with listing of all the holidays for bank as per NI act section 25. Sl No. State...

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Banking

What is Commercial Paper ?

Commercial Papers : A Commercial Paper is a short term security (7 days to 365 days) issued by a corporate entity (other than a bank), at a discount to the face value. b) Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note. c) Commercial Paper normally give a higher return than fixed deposits & CDs. d) Commercial Paper can be issued in denominations of Rs. 5 lakh or multiples thereof. Amount invested by a single investor should...

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Banking

What is Money Market ?

Money Market refers to the market for short-term requirement and deployment of funds. Money market instruments are those instruments, which have a maturity period of less than one year. The most active part of the money market is the market for overnight call and term money between banks and institutions and repo transactions. It is regulated by RBI. Money Market can be further divided into 3 parts. These are: a) Call Money b) Term Money c) Notice Money Call Money - The market to get funds...

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Banking

What are Different Type of Money Supply in India?

Different Type of Money Supply in India : There are different type of money in circulation to economy of India. Each and different type of money have their separate value. Find out the different type of money from Mo to M4 or broad money etc circulation in Indian Economy and banking sector. This is very important topic for economics , asked in various competitive exam like IBPS, SSC, UPSC etc. Commodity Money - Commodity money value is derived from the commodity...

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