Atal Pension Yojana scheme to close for income tax payers from October 1 [ad_1] From October 1, income tax payers won’t be able to sign up for the government’s Atal Pension Yojana (APY) social security program. The goal, according to the finance ministry, is to better focus pension benefits to disadvantaged demographic groups. According to the notification, ““Provided that from ...

Axis bank interest rate: Axis Bank hikes FD interest rate; Earn up to 6% on this tenure [ad_1] Axis Bank has increased fixed deposit (FD) interest rates for certain tenures (for amounts less than Rs 2 crore), with effect from August 11, 2022. increased its fixed deposit interest rate by 45 basis points from 5.60 percent to 6.05 percent for ...

Bank of Baroda, Union Bank of India hike interest rates on loans [ad_1] and have joined the bandwagon in raising their marginal costs of funds-based lending rates (MCLR) on loans after the Reserve Bank of India hiked the repo rate by 50 basis points in its August monetary policy meeting. Bank of Baroda Bank of Baroda raised marginal cost of ...

State Bank of India moves NCLT to recover dues from Bajaj Hindusthan Sugar State Bank of India, the country’s largest lender, has moved the National Company Law Tribunal’s (NCLT’s) Allahabad Bench against Bajaj Hindusthan Sugar because the company has not repaid its dues. The SBI petition, filed under the Insolvency and Bankruptcy Code, 2016, is yet to be admitted by ...

Despite better transmission, MCLR didn’t meet expectations: RBI paper The marginal cost of funds-based lending rate (MCLR) regime leads to better pass-through of changes in benchmark policy interest rates than the previous base rate regime, a working paper written by the Reserve Bank of India (RBI) staff said. According to the paper, under the MCLR regime, an ...

In unclaimed funds case, Supreme Court issues notice to Centre The Supreme Court on Friday sought response from the Centre and others on a plea seeking directions to create a centralised database providing information about bank accounts, insurance, post office funds etc. held by deceased account holders. A bench of Justices S A Nazeer and J K ...

Bank of Maharashtra tops list of PSU lenders in Q1 loan, deposit growth Bank of Maharashtra (BoM) has emerged as the top performer among the public sector lenders in terms of the loan and deposit growth in percentage terms during the first quarter of 2022-23. The Pune-headquartered lender recorded a 27.10 per cent increase in gross advances to Rs ...

RBI directs loan recovery agents not to intimidate borrowers, no calling before 8am & after 7pm The RBI on Friday issued fresh instructions barring recovery agents from resorting to intimidation of borrowers as well as calling them before 8 am and after 7 pm. While issuing additional instructions to regulated entities including banks, NBFCs and ARCs, Reserve ...

RBI asks banks, regulated entities to prevent harassment by recovery agents The Reserve Bank of India (RBI) on Friday asked banks, non-banking financial institutions, and other regulated entities to ensure that they and their loan recovery agents do not harass people. A RBI circular said the central bank has observed that recovery agents are deviating from instructions ...

MCLR more effective in policy transmission than base rate regime: RBI paper The newer marginal cost of funding based lending rate (MCLR) system is more effective than the erstwhile base rate method, a paper by the Reserve Bank of India said on Friday. The paper said that for every 1 percentage point increase by the RBI in ...