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DATED 08.11.2016 :
PRIME MINISTER OF INDIA , MR MODI , HAS ANNOUNCED THAT RS 500 AND RS 1,000 NOTES WILL NO LONGER BE LEGAL TENDERS FROM MIDNIGHT . BANKS AND ATMS WOULD BE CLOSED ON 09.11.2016 . THE EXISTING RS 500 AND RS 1,000 NOTES CAN BE DEPOSITED IN ONE'S ACCOUNT WITH A BANK OR POST OFFICE FROM 10 TH NOV TO 30TH DEC 2016 . CURRENCY VALUE UP TO RS 4,000 CAN BE EXCHANGED FROM ANY BANK OR POST OFFICE TILL NOV 24TH , BY PRODUCING ID PROOF . HOWEVER FOR 72 HOURS , GOVT HOSPITALS , RAILWAY , AIR AND GOVT BUS BOOKING CENTERS , PETROL & DIESEL GAS STATIONS AUTHORISED BY PUBLIC SECTOR OIL COMPANIES , CONSUMER CO OPERATIVE STORES , MILK BOOTHS AND CREMATORIUMS WILL CONTINUE TO ACCEPT THE OLD NOTES . FOR LATEST NEWS ON DEMONETISATION , CLICK HERE
NEWS FOR GOVT EMPLOYEES DATED 06.08 .2016 :
THE MAXIMUM LIMIT OF RETIREMENT GRATUITY AND DEATH GRATUITY IS INCREASED RS. 20 LAKH FROM EXISTING RS 10 LAKHS WITH EFFECT FROM 01.01.2016 .THE CEILING ON GRATUITY WILL INCREASE BY 25% WHENEVER THE DEARNESS ALLOWANCE RISES BY 50% OF THE BASIC PAY.
Dated 17.09.2016: STOCK MARKET NEWS :IPO NEWS DATED 17.09.2016 : ICICI Prudential Life, one of India's largest private sector life insurer is coming with an initial public offering (IPO) in the price band of 300 to 334 between September 19, 2016 to September 21, 2016.
For more Details : Read our STOCK INVESTMENT PAGE
Dated 31.08.2016 : National Payments Corporation of India (NPCI) launcheded o a pilot project called Bharat Bill Payment System ( BBPS ) . BBPS is a payment system that facilitates Bill payments / Retail Payments across India .
Dated 26.08.2016 : National Payments Corporation of India (NPCI) announced that bank applications for the Unified Payment Interface have officially become operational, which means that UPI apps of banks can now be downloaded and used for transactions:
RBI NEWS DATED 20.08.2016 : DR URJIT PATEL , CURRENTLY DEPUTY GOVERNOR WITH RESERVE BANK OF INDIA IS SELECTED TO BECOME GOVERNOR OF RESERVE BANK OF INDIA , TO SUCCEED DR RAGHURAM RAJAN FROM 4TH SEPT , 2016 .
BRIEF PROFILE : BEFORE JOINING THE RBI IN 2013, DR URJIT PATEL WAS ADVISOR (ENERGY AND INFRASTRUCTURE) AT THE BOSTON CONSULTING GROUP. HE WORKED WITH THE INTERNATIONAL MONETARY FUND (IMF) BETWEEN 1990 AND 1995, HANDLING THE U.S., INDIA, BAHAMAS AND MYANMAR DESKS. HE WAS ON DEPUTATION FROM THE IMF TO THE RBI DURING 1996-97 TO ADVICE ON DEVELOPMENT OF THE DEBT MARKET, BANKING SECTOR REFORMS, PENSION FUND REFORMS, REAL EXCHANGE RATE TARGETING AND EVOLUTION OF THE FOREIGN EXCHANGE MARKET. PATEL ALSO SERVED AS CONSULTANT TO THE MINISTRY OF FINANCE, DEPARTMENT OF ECONOMIC AFFAIRS, NEW DELHI DURING 1998-2001 HE HOLDS A PH.D. (ECONOMICS) FROM YALE UNIVERSITY (1990) AND M. PHIL. FROM OXFORD (1986). PATEL HAS AUTHORED MANY ARTICLES / PUBLICATIONS IN THE AREAS OF INDIAN MACROECONOMICS, PUBLIC FINANCE, INFRASTRUCTURE, FINANCIAL INTERMEDIATION, INTERNATIONAL TRADE AND THE ECONOMICS OF CLIMATE CHANGE.
NEWS ALERT DATED 09.08.2016 :IN HIS LAST POLICY CALL , MR RAGHURAM RAJAN , GOVERNOR OF RESERVE BANK OF INDIA HAS KEPT REPO RATE AND ALL OTHER KEY RATES UNCHANGED . RESERVE BANK OF INDIA (RBI) KEPT THE REPO RATE UNCHANGED AT 6.50% IN THE CENTRAL BANK'S MONETARY POLICY REVIEW TODAY . THE CENTRAL BANK KEPT THE CASH RESERVE RATIO (CRR) UNCHANGED AT 4%.
WHAT IS REPO RATE ? CLICK HERE
PRIME MINISTER OF INDIA , MR MODI , HAS ANNOUNCED THAT RS 500 AND RS 1,000 NOTES WILL NO LONGER BE LEGAL TENDERS FROM MIDNIGHT . BANKS AND ATMS WOULD BE CLOSED ON 09.11.2016 . THE EXISTING RS 500 AND RS 1,000 NOTES CAN BE DEPOSITED IN ONE'S ACCOUNT WITH A BANK OR POST OFFICE FROM 10 TH NOV TO 30TH DEC 2016 . CURRENCY VALUE UP TO RS 4,000 CAN BE EXCHANGED FROM ANY BANK OR POST OFFICE TILL NOV 24TH , BY PRODUCING ID PROOF . HOWEVER FOR 72 HOURS , GOVT HOSPITALS , RAILWAY , AIR AND GOVT BUS BOOKING CENTERS , PETROL & DIESEL GAS STATIONS AUTHORISED BY PUBLIC SECTOR OIL COMPANIES , CONSUMER CO OPERATIVE STORES , MILK BOOTHS AND CREMATORIUMS WILL CONTINUE TO ACCEPT THE OLD NOTES . FOR LATEST NEWS ON DEMONETISATION , CLICK HERE
NEWS FOR GOVT EMPLOYEES DATED 06.08 .2016 :
THE MAXIMUM LIMIT OF RETIREMENT GRATUITY AND DEATH GRATUITY IS INCREASED RS. 20 LAKH FROM EXISTING RS 10 LAKHS WITH EFFECT FROM 01.01.2016 .THE CEILING ON GRATUITY WILL INCREASE BY 25% WHENEVER THE DEARNESS ALLOWANCE RISES BY 50% OF THE BASIC PAY.
Dated 17.09.2016: STOCK MARKET NEWS :IPO NEWS DATED 17.09.2016 : ICICI Prudential Life, one of India's largest private sector life insurer is coming with an initial public offering (IPO) in the price band of 300 to 334 between September 19, 2016 to September 21, 2016.
For more Details : Read our STOCK INVESTMENT PAGE
Dated 31.08.2016 : National Payments Corporation of India (NPCI) launcheded o a pilot project called Bharat Bill Payment System ( BBPS ) . BBPS is a payment system that facilitates Bill payments / Retail Payments across India .
Dated 26.08.2016 : National Payments Corporation of India (NPCI) announced that bank applications for the Unified Payment Interface have officially become operational, which means that UPI apps of banks can now be downloaded and used for transactions:
RBI NEWS DATED 20.08.2016 : DR URJIT PATEL , CURRENTLY DEPUTY GOVERNOR WITH RESERVE BANK OF INDIA IS SELECTED TO BECOME GOVERNOR OF RESERVE BANK OF INDIA , TO SUCCEED DR RAGHURAM RAJAN FROM 4TH SEPT , 2016 .
BRIEF PROFILE : BEFORE JOINING THE RBI IN 2013, DR URJIT PATEL WAS ADVISOR (ENERGY AND INFRASTRUCTURE) AT THE BOSTON CONSULTING GROUP. HE WORKED WITH THE INTERNATIONAL MONETARY FUND (IMF) BETWEEN 1990 AND 1995, HANDLING THE U.S., INDIA, BAHAMAS AND MYANMAR DESKS. HE WAS ON DEPUTATION FROM THE IMF TO THE RBI DURING 1996-97 TO ADVICE ON DEVELOPMENT OF THE DEBT MARKET, BANKING SECTOR REFORMS, PENSION FUND REFORMS, REAL EXCHANGE RATE TARGETING AND EVOLUTION OF THE FOREIGN EXCHANGE MARKET. PATEL ALSO SERVED AS CONSULTANT TO THE MINISTRY OF FINANCE, DEPARTMENT OF ECONOMIC AFFAIRS, NEW DELHI DURING 1998-2001 HE HOLDS A PH.D. (ECONOMICS) FROM YALE UNIVERSITY (1990) AND M. PHIL. FROM OXFORD (1986). PATEL HAS AUTHORED MANY ARTICLES / PUBLICATIONS IN THE AREAS OF INDIAN MACROECONOMICS, PUBLIC FINANCE, INFRASTRUCTURE, FINANCIAL INTERMEDIATION, INTERNATIONAL TRADE AND THE ECONOMICS OF CLIMATE CHANGE.
NEWS ALERT DATED 09.08.2016 :IN HIS LAST POLICY CALL , MR RAGHURAM RAJAN , GOVERNOR OF RESERVE BANK OF INDIA HAS KEPT REPO RATE AND ALL OTHER KEY RATES UNCHANGED . RESERVE BANK OF INDIA (RBI) KEPT THE REPO RATE UNCHANGED AT 6.50% IN THE CENTRAL BANK'S MONETARY POLICY REVIEW TODAY . THE CENTRAL BANK KEPT THE CASH RESERVE RATIO (CRR) UNCHANGED AT 4%.
WHAT IS REPO RATE ? CLICK HERE