Central Govt DA: 7th Pay Commission: Dearness relief hiked by 4% for central govt pensioners; notification issued [ad_1] The government has hiked the dearness relief (DR) component for central government employees by 4% effective from July 1, 2022. The DR has been hiked to 38%, according to the office memorandum (OM) Department of Pension & Pensioners’ welfare (DOPPW). According to ...

RBI cancels licence of The Seva Vikas Co-op Bank amid inadequate capital The Reserve Bank of India on Monday said it has cancelled the licence of Pune-based The Seva Vikas Co-operative Bank Ltd as the lender does not have adequate capital and earning prospects. The bank ceases to carry on banking business, with effect from the close ...

RBI cancels Seva Vikas Co-operative Bank’s licence: What depositors should know [ad_1] The Reserve Bank of India (RBI) has cancelled the licence of Pune-based Seva Vikas Co-operative Bank as the lender does not have adequate capital and earning prospects. The bank will cease to carry on banking business, with effect from the close of business on October 10, 2022, stated ...

Financial bids for IDBI Bank likely to be invited by March: Officials The financial bids for IDBI Bank privatisation is likely to be invited by March and the conclusion of the sale process is expected in the next financial year, officials said. Last week, the government along with Life Insurance Corporation (LIC) invited preliminary bids for selling ...

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Rupee falls 4 paise to close at new low of 82.34 against US dollar The rupee pared most of its initial losses and settled 4 paise lower at a fresh lifetime low of 82.34 (provisional) against the US dollar on Monday, weighed down by as risk-averse sentiment among investors. Moreover, a negative trend in domestic equities and ...

NSC interest rates: What is the latest National Savings Certificate interest rate? [ad_1] The NSC interest rates are set up by the government and revised every three months (i.e., quarterly). The NSC interest rate for the quarter ending December 31, 2022 is 6.8%, compounded yearly. 5 Years National Savings Certificate Minimum investment that should be made is Rs 1,000 and ...

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Bank of Maharashtra raises lending rate by 20 bps; EMIs to become costlier State-owned Bank of Maharashtra (BoM) on Monday raised the marginal cost of funds-based lending rates (MCLR) by 0.20 per cent or 20 basis points across tenors. The revision will make loans linked to MCLR benchmark costlier. The benchmark one-year MCLR will be 7.80 ...

SBI festive season offer: Get home loan interest rates at up to 25 bps below EBLR during this period [ad_1] As part of its festive season campaign, the State Bank of India (SBI) is offering a 15 to 30 basis point discount on home loans from October 4, 2022, to January 31, 2023. As of now, interest rates for SBI ...