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Tag Archive for 'rbi'

Power Finance Corporation (PFC) To Start a Bank

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Power Finance Corporation (PFC) has revealed that the board is very keen in setting up banking institution in the country and will very soon be applying for the license as the RBI’s guidelines and norms for setting up commercial banks which were issued last week have been already met by the lending agency. Satnam Singh, […]


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How To Verify or Check Indian Currency Banknotes Authenticity?

1000 rupees bank note RBI

The Reserve Bank of India has now provided an online facility for the users to check the security features that one must look at to ensure whether the currency notes are fake or real. In order to identify the special security features, one just needs to press on the images of the notes of Rs. […]


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Credit Cards Used 30 Times More Than Debit Cards in India – Report

Credit Cards In India

According to the records and research statistics (stats), there are a lot of people who spends using their credit card than debit cards. The average payment amount of credit card would reach about Rs 55,000 in a year and this is already 30 times the money that is usually spent through debit cards. But this […]


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Rs. 12,000 crore to be infused by RBI through Open Market Operation

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The government of India decided last June 22 that they will be buying government securities to ease the liquidity situation. This is one way where the Reserve Bank of India will pump in Rs 12,000 crore into the market through Open Market Operations. For the detail, the RBI will purchase government securities maturing in different […]


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RBI Wants All Banks To Abolish Foreclosure Charges On Home Loans

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RBI has mentioned a circular to all banks stating that they need to ensure they have followed the system that they have implemented where banks are not allowed anymore permitted to charge prepayment penalties on home loans on floating interest rate basis. Borrowers can now freely shift loans without incurring prepayment charges. There might be […]


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50 bps Cut In Repo Rate; But Loans Not Cheaper

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Dr D. Subbarao, made a decision regarding key policy rates that is first in about three years. A 50 point basis was cut in the repo rate. This has been good news for banks giving them the relief they need on the liquidity front. This decision was made due to the slowdown in growth. It […]


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Central Bank of India To Hire 3000 People In Clerk & Probationary Officers Cadre

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The chairman and managing director of Central Bank of India MV Tanksale announced that they will be increasing their manpower by 8% this fiscal. They are planning to get their manpower in northeast India which is definitely good news for people there who needs a job. The bank will be hiring a total of 3,000 […]


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RBI instructs banks to pay 8% compensation on delayed interest payments

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Reserve Bank of India (RBI) has directed banks to pay a compensation of 8% on delayed interest payments on relief bonds. A circular read, “an agency bank should compensate an investor in relief/savings bonds for financial loss due to late receipt/delayed credit of interest warrants/maturity value, at a fixed rate of 8 per cent per […]


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