Bank Rate

RBI/2012-13/402 Ref:DBOD.No.Ret.BC. 77/12.01.001/2012-13 January 29, 2013 All Scheduled Commercial Banks & Local Area Banks Dear Sir, Bank Rate As announced in the Third Quarter Review of Monetary Policy 2012-13, the Bank

RBI Extends Deadline For New Cheque Format

RBI Extends Deadline For New Cheque Format Till March 2013:As per RBI guidelines the old cheque books are going to invalid from coming January. But recently RBI has provided a

Second Quarter Review of Monetary Policy 2012-13

“First of all, on behalf of the Reserve Bank, I want to welcome you all to this Second Quarter Review of Monetary Policy for 2012-13. 2. A short while ago,

RBI Cuts CRR by 25 bps to 4.25%

Maintenance of Cash Reserve Ratio RBI/2012-13/269 Ref: DBOD.No.Ret.BC.52/12.01.001/2012-13 October 30, 2012 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Dear Sir, Section 42(1) of the Reserve Bank of India Act,

How to calculate interest on recurring deposits?

How to calculate interest on recurring deposits? Understand Compound Interest To Understand Recurring Deposit Interest When you create a RD for Rs. 10,000 for 2 years, what you’re doing is

Bank Rate stands adjusted by 50 basis points from 9.50 per cent to 9.00 per cent

RBI/2011-12/515 DBOD.No.Ret.BC.96 /12.01.001/2011-12 April 19, 2012 All Scheduled Commercial Banks Dear Sir, Bank Rate As announced in the Monetary Policy Statement 2012-13, the Bank Rate stands adjusted by 50 basis points

Bank Branch Advance limit for statutory Audit fixed at 6 Cr. and above & Once in 3 year for below Rs. 6 Cr

“Dear Member, It has been learnt that RBI has received communication regarding Bank Branch Audit allotment. All Bank Branches having advances of Rupees six crores and above and one third

Validity Period of Cheque, Demand Drafts & Pay Order instruments

In India, it has been the usual practice among bankers to make payment of only such  cheques and drafts as are presented for payment within a period of six months

Bank Branch Audit Policy by RBI 2011-12

  Bank Branch Statutory Audit 2011-12/ Bank Branch Audit Allotment 2012 Only nationalized banks having advances above Rs.20 crores and above and for below 20 crores ones in every five year will

Rupee Symbol can soon be directly typed using a Keyboard

New Rupee Symbol can soon be directly typed using a Keyboard!!!!   Very soon users can simply type the Rupee symbol using normal computer keyboard. According to announcement by government