Banker Kumar

Tuesday, June 30, 2020

IBPS - BANK JOBS June 30, 2020

IBPS Vacancy for Various Posts-July 2020

IBPS has announced to conduct CRP RRBs IX recruitment process for vacancies in Regional Rural Banks (RRBs) for the following post. The process will be tentatively completed in the month of September, October and November 2020

Banker Kumar 0

Sunday, June 28, 2020

MSME: Then & Now June 28, 2020

MSME Classification: Then and Now (w.e.f. 01.07.2020)

During the time of COVID-19 Pandemic, Ministry of Finance, Government of India has announced various relief measures on 13^th May 2020 to overcome the impact of Corona on Indian Economy. One of the important measure was to change the classification and definition of MSME. Now both service sector and manufacturing sector has been clubbed and a composite criteria has been released. This new criteria will come to effect from 1^st July 2020.

Banker Kumar 0

RBLR / RLLR / EBLR June 28, 2020

MCLR TO REPO BASED INTEREST RATE

What is REPO Based Lending Rate?

Repo Based Lending Rate (RBLR) or Repo Linked Lending Rate (RLLR) or External Benchmark Based Lending Rate (EBLR) is an new floating interest rate regime which is directly linked to Repo Rate. It was mandated by RBI w.e.f. 01^st October 2019. All the banks have shifted their Retail as well as MSME loan to this new regime and new loan are being sanctioned which carry interest rate directly linked to Repo rate.

Banker Kumar 0

Saturday, June 27, 2020

UPI June 27, 2020

UNIFIED PAYMENT INTERFACE (UPI)

What is UPI?

Unified Payment Interface is a remittance product developed by National Payment Corporation of India (NPCI) and launched in August 2016 by Mr. Rajan (Ex. RBI Governor). It is basically a mobile application supported system which provides remittance/fund transfer facility and some other banking activities 24X7 for 365 days a year.

Banker Kumar 0

Tuesday, June 23, 2020

DFS Order June 23, 2020

Insurance Companies to Cut the Cost: DFS

Two days after the issue of order to PBSs to cut the cost, now DFS has come up with another order to Public Sector General Insurance Companies to cut the cost due to COVID-19. Here is the full circular

Banker Kumar 0

Friday, June 19, 2020

DFS Order June 19, 2020

DFS asked PSBs to cut cost by 20%

Department of Financial Services, Ministry of Finance, Government of India has asked Public Sector Banks to cut the controllable cost by 20%. Full order is mentioned below:

Banker Kumar 0

Sunday, June 14, 2020

Governance June 14, 2020

RBI on Governance in Commercial Banks

RBI has suggested some measures to improve the quality of governance in Commercial Banks. Read the full press release-

Banker Kumar 0

Wednesday, June 10, 2020

PPF June 10, 2020

PPF (Public Provident Fund) ,1968

Public Provident Fund (PPF) account is very popular investment and income tax saving tool for Middle Class. PPF account provides safety of principal as well as good interest. PPF is a most simple and effective investment and tax saving tool and can be understand by the following points:

Banker Kumar 0

Tuesday, June 9, 2020

PMVVY June 09, 2020

Pradhan Mantri Vaya Vandana Yojana (PMVVY) - Revised (w.e.f. 20.05.2020)

INTRODUCTION:

Pradhanmantri Vaya Vandana Yojana (PMVVY) is a pure pension scheme for senior citizen aged 60 years and above. This scheme was initially announced in budget for 2017-2018 by Government of India. This scheme was rolled out through LIC of India on 04^th May 2017 to 03^rd May 2018 but the scheme was further extended till 31.03.2020 in Union Budget for 2018-2019. Earlier till 31^st March 2020, this scheme used to offer 8% annual return. Now this scheme has been extended till 31^st March 2023 but with reduced interest at 7.4% p.a.

Banker Kumar 0

Saturday, June 6, 2020

IBPS - BANK JOBS June 06, 2020

IBPS Declared Tentative Schedule of CRP for 2020-21

Tentative schedule of IBPS common recruitment exams for recruitment of Officers in RRBs and PSBs has been declared by IBPS. Receuitment examination for RRBs will tentatively be held in the month on August 2020 and recruitment examination for PSBs will tentatively be held in the month of October 2020. In this regard notification of IBPS is provided for our readers for their ready reference.