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Fema / RBI - As we all know a bank is a financial institution licensed to receive deposits and make loans. Banks many also provide financial services, such as wealth management, currency exchange and safe deposit boxes. There are two types of banks: Commercial/ retail banks and investment banks....
Read MoreFema / RBI - It was emphasized that the business in cooperative Banks i.e. State cooperative banks and district cooperative banks needs to be conducted in a manner not detrimental to the intents of the depositors and as these entities being Banks are subject to the regulatory provisions of the banking Regulation Act, 1949 (AACS), it is essential that ...
Read MoreFema / RBI - Thanjavur has always fascinated me, in my imagination it was filled with relics of India’s glorious past and gave us an insight of how our ancestors thought, lived and celebrated. Join me now as I take you through all that is great about the present place….Here’s why you should visit Thanjavur....
Read MoreFema / RBI - U/s 2(19) of the Income Tax Act 1961, ‘cooperative society’ means a cooperative society registered under the Cooperative Societies Act, 1912 (2 of 1912), or under any other law for the time being in force in any State for the registration of the cooperative societies....
Read MoreFema / RBI - The draft guidelines on how foreign banks can convert themselves into wholly owned subsidiaries of their parents, have been delayed, with the Reserve Bank of India (RBI) awaiting clarity from tax authorities. The guidelines were to be have been relea...
Read MoreFema / RBI - Indian Banks Association clarified that some segment of social media based on misinformed communication and spreading false information that all free services of public sector banks will be ceased by January 20, 2018. In addition, there is neither a move by banks for such blanket removal of free services nor such thing is being contemplat...
Read MoreFema / RBI - HDFC BANK IMPORTANT NOTICE REVISION OF FEES AND CHARGES – SAVINGS & SALARY ACCOUNTS (EFFECTIVE 01st March 2017) Effective 01st March 2017, cash transaction charges for Savings and Salary accounts are being revised as follows: Sr. No Charge Type Revised charges 1 Number of Cash transactions(Cumulative of Deposit and Withdrawal) 4...
Read MoreFema / RBI - Male employees with less than two surviving children shall be eligible for 15 days paternity leave during his wife’s confinement and may be availed upto 15 days before or upto 6 months from the date of delivery of the child. ...
Read MoreFema / RBI - Discussions were held between the Indian Banks’ Association representing Managements of Banks and the authorized representatives of Workmen Unions and Officers’ Association, on wage revision for officers in banks on 23.02.2015 at Mumbai. After holding several rounds of discussions. the parties have mutually agreed as under: ...
Read MoreFema / RBI - IDBI Bank Ltd has entered into a Memorandum of Understanding with the Government of Karnataka (GoK) at the Global Investors Meet (GIM) held at Bangalore. The meet was organized by Government of Karnataka and Karnataka Udyog Mitra. Shri Manogaran Varadaraj Masilamani, General Manager, IDBI Bank and Shri B.S. Sirsikar, Joint Director (Plan...
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