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Date: October 20,2026**.

Semi-Annual Recurring Deposit (RD) Calculator Half yearly payment and Interest compounded half yearly

How much you will get if you deposit Rs 1000 every six months for five years at 8 percent annual interest ?

Here is a calculator to know what you will get on completion of the term. Many Government Deposit Schemes compound interest half yearly. In some schemes like Sukanya Samriddhi Yojana (SSY) ,five year "National Savings Certificates" interest is compounded annually. In banks most of the FD and RD Deposit Schems interest is compounded qarterly

Understanding Interest and Compounding

Interest is the reward you earn for saving or investing your money. With compounding, you don't just earn interest on your initial amount-you also earn interest on the interest already earned. This means your money grows faster over time. The more frequently your interest is compounded - monthly, quarterly, or half-yearly - the quicker your savings can grow.

.
Half yearly Instalment:
Period in years:
Interest per annum:
----

Date: October 18,2026.**

Premature redemption under Sovereign Gold Bond (SGB) Scheme -SGB 2020-21 Series VII

Excerpts:

The due date of premature redemption of the above tranche shall be on October 19, 2026

The redemption price for premature redemption due on October 19, 2026 (October 20, 2026, being a holiday), shall be ₹14,614/-

Read More

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Date: October 17,2026.

Small Savings Schemes Interest Rates remain unchanged.

Interest rates for different schemes are given here.



Sukanya Samruthi Scheme and Senior Citizen's Savings Scheme tops the list offering interest at 8.20% pa.

National Savings Scheme follows next with interest 7.70% pa.

Here is the interest rates for all the post office Savings Schemes.

Savings Deposit 4.00 %.

1 year Time Deposit : 6.90 %.

2 Year Time Deposit 7.00%.

3 Year Time Deposit 7.10 %.

5 Year Time Deposit 7.50%.

5 Year Recurring Deposit 6.70%.

5yr Senior Citizen's Savings 8.20 %.

5yr Monthly Income Deposit 7.40 %.

National Savings Certificate. 7.70 %.

Public Provident Fund 7.10 %.

Kisan Vikas Patra 7.50 %.

Sukanya Samriddhi Account. 8.20 %
Date: October 10 ,2026.

Check Impact of Repo Rate Change on Loan EMI

Updated: October 10, 2026

The Reserve Bank of India (RBI) has increased the Repo Rate by 25 basis points. The revised Repo Rate now stands at 5.50%.

What is Repo Rate in simple terms?

Repo Rate is the interest rate at which commercial banks borrow money from the RBI to meet their short-term funding needs.
In simple words, it is the cost of money for banks. So, when RBI increases the Repo Rate, borrowing becomes costlier for banks.
If banks need funds to lend, they usually pass on this higher cost to customers by increasing interest rates on Home Loans, Car Loans, and other loans.

Use our simple calculator to instantly find out how much your EMI will increase or decrease when your loan interest rate changes.

Calculator


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Date: October 07,2026.

Monetary Policy Statement, 2026-27

RBI REPO Rate increased by 25 BPS .Revised Rapo rate is 5.50%

Excerpts:

MPC voted unanimously to increase the

Policy Repo Rate under the liquidity adjustment facility (LAF) by 25 bps to 5.50% per cent.

Other revised rates are :

The Standing Deposit Facility (SDF) Rate stands adjusted at 5.25% per cent.

The Marginal Standing Facility (MSF) Rate 5.75%

The Bank Rate at 5.75%.

Read More

Latest RBI Policy Rates-Repo Rate, Bank Rate, CRR, SLR etc---

What is Cash Reserve Ratio (CRR),Statutory Liquidity Ratio (SLR) , Repo Rate , Reverse Repo Rate and Bank Rate ?

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Bank Fixed Deposit Interest Rates-Public and Private Banks

updated on October 06,2026.

* *
Banks 1 Year 3 years 5 years Max Interest
Bank of Baroda 6.25 6.25 6.30 6.75-555 days
Bank of India 6.50 6.70 6.00 6.85-999 days
Canara Bank 6.25 6.25 6.25 6.60 555days
Central Bank 6.10 6.00 6.00 6.75-444 days
Indian Bank 6.10 6.05 6.00 6.65-555days
Indian Overseas Bank 6.50 6.10 6.10 6.60-444days
Punjab National Bank 6.25 6.30 6.35 6.60-444 days
Punjab and Sind Bank 5.85 5.85 5.95 6.85-666 days
UCO Bank 6.10 6.00 6.00 6.60-535 days
Union Bank 6.20 6.10 6.00 6.55-555 days
State Bank of India 6.25 6.30 6.05 6.45-444 days
IDBI Bank. 6.20 6.35 6.25 6.55--1100 days
HDFC Bank 6.25 6.45 6.40 6.50-3yr+1day
ICICI Bank. 6.25 6.45 6.50 6.50-3yr+1 day
Axis Bank 6.25 6.50 6.50 6.50-18 months
SCB Bank. 6.60 6.50 6.25 6.60-1 year
Deposit Interest Rates subject to change .
Confirm Interest Rates from respective banks .
Please note most of the Banks offer additional 0.50 % interest to Senior Citizens
Confirm Interest Rates from respective banks .
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Date: October 05,2026.

Master Direction on Note Sorting Machines

In exercise of the powers conferred under Section 35A and Section 56 of the Banking Regulation Act, 1949, Reserve Bank of India (RBI), from time-to-time issues guidelines / circulars / directives to the banks on Note Sorting Machines.

2. A Master Direction incorporating and updating the extant guidelines / circulars / directives on the subject has been prepared to enable banks to have all current instructions on Note Sorting Machines at one place for reference and the same is enclosed.

3. The previous circulars issued on the subject (Annexed) stand withdrawn from the date of issuance of this Master Direction.

Read More

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Bank Expected DA from November 2026 to January 2027

The Consumer Price Index for Industrial Workers (CPI-IW) for July 2026 and August 2026 has already been officially released. The index for September 2026 is scheduled for release at the end of this month.

Assuming the September 2026 index remains unchanged, we have projected the Dearness Allowance (DA) payable to bank staff from November 2026. If this assumption holds true, the revised DA is expected to be 30.97%, representing a 3.30% increase over the current rate.

Serial No. Details CPI Index
(Base 2016=100)
1 July 2026 153.20
2 August 2026 154.40
3 September 2026(Assuming no change in CPI Index) 154.40
4 Average Index Current Quarter 154.00
5 Index above 123.03 points 30.97
6 Dearness Relief for Current Quarter 30.97 %
7 Dearness Relief paid for Previous Quarter 27.83 %
8 Change in Dearness Relief for Current Quarter 3.14 %
Date: October 03,2026.

Small Savings Schemes (National Savings Schemes) Interest Rates for October 2026 to December 2026 remain unchanged.

Scheme Name 2026
Apr-Jun		 2026
Jul-Sep		 2026
Oct-Dec		 2027
Jan-Mar
Savings Deposit 4.00 4.00 4.00 ****
1 Year Time Deposit 6.90 6.90 6.90 ****
2 Year Time Deposit 7.00 7.00 7.00 ****
3 Year Time Deposit 7.10 7.10 7.10 ****
5 Year Time Deposit 7.50 7.50 7.50 ****
5 Year Recurring Deposit 6.70 6.70 6.70 ****
5yr Senior Citizen's Savings 8.20 8.20 8.20 ****
5yr Monthly Income Deposit 7.40 7.40 7.40 ****
National Savings Certificate. 7.70 7.70 7.70 ****
Public Provident Fund 7.10 7.10 7.10 ****
Kisan Vikas Patra 7.50 7.50 7.50 ****
Sukanya Samriddhi Account. 8.20 8.20 8.20 ****

Read Govt Notification.

Know your NSC Accrued Interest eligible for deduction from Income tax for FY 2026-27.

Nsc Yearwise-Interest Accretion-Chart
Date: September 28,2026.

Bank Union's Strike Actions Deferred.

Excerpts: Consequent on late night meeting between UFBU and IBA strike actions anounced by the Unions deferred. A highlevel committee is being formed to find out a solution for the demands of the Bank Unions. The core demands are

1.Five-Day Banking Week

2.Abolition or Change in performance linked incentives scheme(PLI).

3.Reverting to Old Pension Scheme.

4.Uniform dearness allowance formula for retirees and other work related matters.

5.Recruitment in clerical and subordinate cadres to reduce work related stress.

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Date: September 26,2026.

All about Bank Strike

AIBEA strictly warns Bank Management to behave properly

Banking services impacted as unions go on nationwide strike to press for 5-day workweek

UFBU’s call for Strike

No ATM charges, banks to operate on Sunday: What initiatives did Centre take to minimise disruptions during 3-day strike

No commitment made': Govt denies agreeing to 5-day work week for banks, says Finance Ministry source Read more at: https://www.deccanherald.com/business/no-commitment-made-govt-denies-agreeing-to-5-day-work-week-for-banks-says-finance-ministry-source-4159762

UFBU Clarifies ‘Employees Can Go to Branches on Sunday’, Eligible Compensation, Overtime Wages to Be Paid

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**

Date: September 25,2026.

Bank Unions anounced Bank Strike on September 28,29 and 30.

Their key demands are

1.Five-Day Banking Week

2.Abolition or Change in performance linked incentives scheme(PLI).

3.Reverting to Old Pension Scheme.

4.Uniform dearness allowance formula for retirees and other work related matters.

5.Recruitment in clerical and subordinate cadres to reduce work related stress.

Read more

Banks to remain closed for five days from September 26 as unions call three-day strike-New Indian Express

Bank unions announce 3-day strike from Sept 28, demand 5-day work week-Hindustan Times


Date: September 13,2026.

RBI invites comments on the Draft “Reserve Bank of India (Know Your Customer) Amendment Directions, 2026”

Excerpts:

Reserve Bank has issued draft Amendment Directions for public comments to amend existing instructions on Operations of Bank Accounts and Money Mules as prescribed in its KYC Directions, 2025.

The comments / feedback on the draft Amendment Directions may be submitted by the regulated entities and other stakeholders / members of public on or before October 2, 2026 through the following channels:

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Draft Reserve Bank of India (Know Your Customer) Amendment Directions, 2026

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Date September 08,2026.

All about income tax on salary-Financial Year 2026-27.

A comprehensive guide.

Finance Bill 2026

Read More

Memorandum explaining the provisions in the Finance Bill 2026.

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New Income Tax Act 2025

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Income Tax Act 1961.
(As amended by Finance Act-2025).

Read More

Mapping of sections in Income Tax Act 1961 and New Income Tax Act 2025.

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Income Tax Rates Tax Year 2026-27 - New and Old Tax Regime for individuals.

Read More

UNION BUDGET 2026-27.

SUMMARY OF UNION BUDGET 2026-27

Read More

HIGHLIGHTS OF UNION BUDGET 2026-27

Read More

BUDGET AT A GLANCE 2026-2027


Read More

Key to Union Budget 2026-27.

Read More

Income Tax Calculator- FY 2025-26.

Income Tax Rates FY 2025-26.

NSC Interest and Maturity Value Calculator

NSC Accrued Interest Chart



Important points to remember:

Standard Deductions:
  • Standard Deductions -New Tax Regime Max Rs 75000.
  • Standard Deductions Old Tax Regime Max Rs 50000.
  • Standard Deductions Family Pensioners Max Rs 25000.

    • Section 87A. New Tax Regime
  • A resident individual (whose net income does not exceed Rs.12,00,000) can avail rebate under section 87A.

  • It is deductible from income-tax before calculating education cess.
  • The amount of rebate is 100 per cent of income-tax or Rs. 60000, whichever is less.

    • Section 87A: Old Tax Regime

  • A resident individual (whose net income does not exceed Rs. 5,00,000) can avail rebate under section 87A.

  • It is deductible from income-tax before calculating education cess.

  • The amount of rebate is 100 per cent of income-tax or Rs. 12,500, whichever is less.


    • Section 80TTA-Interest frrom Savings Bank Account: Old Tax Regime
  • For Individuals other than senior Citizens :Max Rs10000.

  • Interest on Fixed and other deposits not allowed.


    • Section 80TTB-Interest frrom Savings Bank and Fixed Deposit Accounts Account: Old Tax Regime
  • For Senior Citizens :Interest from Savings and Fixed Deposit Accounts: Max Rs50000.

    Note:Information displayed are for personal use only.
    All reules and regulations are subject to change.
    Before taking any action consult Tax Consultants.
    Thank you for visiting my Website.
  • Your suggestions / Comments will help me improve this page.
  • You may E-mail your suggestions/ comments to "ssm_dindigul@yahoo.co.in"
  • Subramanian S (Retd Manager,United Bank of India.)


    • Date: September 06,2026.

    Premature redemption under Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemption of SGB 2021-22 Series VI due on September 07, 2026

    Excerpts:

    The due date of premature redemption :September 07, 2026.

    The redemption price for premature redemption due on September 07, 2026 : ₹15,334/- (Rupees Fifteen Thousand Three Hundred and Thirty-Four Only) per unit of SGB

    Read More

    Top / Back to Home Page.






    Bank Fixed Deposit Interest Rates-Public and Private Banks

    updated on September 04,2026.

    * *
    Banks 1 Year 3 years 5 years Max Interest
    Bank of Baroda 6.25 6.25 6.30 6.75-555 days
    Bank of India 6.50 6.70 6.00 6.85-999 days
    Canara Bank 6.25 6.25 6.25 6.60 555days
    Central Bank 6.10 6.00 6.00 6.75-444 days
    Indian Bank 6.10 6.05 6.00 6.65-555days
    Indian Overseas Bank 6.50 6.10 6.10 6.60-444days
    Punjab National Bank 6.25 6.30 6.35 6.60-444 days
    Punjab and Sind Bank 5.85 5.85 5.95 6.85-666 days
    UCO Bank 6.10 6.00 6.00 6.60-535 days
    Union Bank 6.20 6.10 6.00 6.55-555 days
    State Bank of India 6.25 6.30 6.05 6.45-444 days
    IDBI Bank. 6.20 6.35 6.25 6.45--700 days
    HDFC Bank 6.25 6.45 6.40 6.50-3yr+1day
    ICICI Bank. 6.25 6.45 6.50 6.50-3yr+1 day
    Axis Bank 6.25 6.50 6.50 6.50-18 months
    SCB Bank. 6.60 6.50 6.25 6.60-1 year
    Deposit Interest Rates subject to change .
    Confirm Interest Rates from respective banks .
    Most of the Banks offer additional 0.50 % interest to Senior Citizens
    Top Home

    Date: August ,2026.

    Reserve Bank of India (Commercial Banks – Interest Rate on Deposits) Third Amendment Directions, 2026

    Read More

    Reserve Bank of India (Commercial Banks – Interest Rate on Deposits) Directions, 2025 (Updated as on August 25, 2026)

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    Date: August 25,2026.

    Reserve Bank of India (Commercial Banks – Cash Reserve Ratio and Statutory Liquidity Ratio) Fourth Amendment Directions, 2026

    Read More

    Reserve Bank of India (Commercial Banks – Cash Reserve Ratio and Statutory Liquidity Ratio) Directions, 2025 (Updated as on August 25, 2026)

    Top / Back to Home Page.


    Date: August 21,2026.

    Sovereign Gold Bond (SGB) Scheme
    Calendar for premature redemption
    during October 2026 – March 2027.
    Read More


    Date: August 16,2026.

    Premature redemption under Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemption of SGB 2021-22 Series V due on August 17, 2026

    Excerpts:

    The due date of premature redemption of the above tranche shall be on August 17, 2026.

    The redemption price for premature redemption due on August 17, 2026, shall be ₹15,295/- (Rupees Fifteen Thousand Two Hundred and Ninety Five Only) per unit of SGB

    Read More

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    Date: August 14,2026.

    Premature redemption under Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemption of SGB 2019-20 Series III due on August 14, 2026

    Excerpts:

    The next due date of premature redemption of the above tranche shall be on August 14, 2026.

    The redemption price for premature redemption due on August 14, 2026 shall be ₹15,310/- (Rupees Fifteen Thousand Three Hundred and Ten Only) per unit of SGB

    Read More

    Note:

    Key Details of SGB 2019-20 Series III

    Original Issue Date: August 14, 2019
    Original Issue Price: ₹3,449 per gram (online discount rate)
    Premature Redemption Date: August 14, 2026
    Redemption Price: ₹15,310 per unitAbsolute
    Gain: ~344% (excluding regular 2.5% annual interest payouts)

    Top / Back to Home Page.


    Date: August 13,2026.

    RBI invites comments on the Draft “Reserve Bank of India (Interest Rates on Loans and Advances) Directions, 2026”

    Excerpts:

    The Reserve Bank has issued various instructions from time to time on interest rates on loans and advances for regulated entities (REs), with the objectives of ensuring effective monetary policy transmission, appropriate pricing of credit risk, and fair and non-discriminatory treatment of borrowers.

    It is proposed to issue harmonised Directions for all REs, prescribing a broad, principles-based framework for the determination of interest rates on both fixed rate and floating rate loans, commensurate with the nature, complexity, and scale of the operations of the REs.

    For the purpose of public consultation / feedback, a draft Direction applicable to all REs is being issued. **

    Read More

    Reserve Bank of India (Interest Rates on Loans and Advances) Directions, 2026 - Draft RBI/2026-27/

    Top / Back to Home Page.


    Date: August 12,2026.

    Reserve Bank of India (Housing Finance Companies) Third Amendment Directions, 2026

    Excerpts(RBI Notifications):

    Certain instructions on matters related to engagement of recovery agents by Housing Finance Companies (HFCs) have been issued to HFCs under Chapter-X on ‘Fair Practices Code’ of the Reserve Bank of India (Housing Finance Companies) Directions, 2025.

    The extant instructions have since been reviewed and it has been decided to issue comprehensive instructions on conduct related matters in recovery of loan dues and engagement of recovery agencies to all NBFCs, excluding Mortgage Guarantee Companies, Core Investment Companies, NBFC-Account Aggregators, Standalone Primary Dealers, Non-Operating Financial Holding Companies, and NBFCs not having any customer interface, under the Reserve Bank of India (Non-Banking Financial Companies – Responsible Business Conduct) Directions, 2025. **

    Read More

    Reserve Bank of India (Priority Sector Lending – Targets and Classification) Second Amendment Directions, 2026

    Read More

    Reserve Bank of India (All India Financial Institutions - Responsible Business Conduct) Third Amendment Directions, 2026

    Read More

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    Date: August 12,2026.

    Premature redemption under Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemption of SGB 2018-19 Series VI due on August 12, 2026

    Excerpts(RBI Press Release):

    The next due date of premature redemption of the above tranche shall be on August 12, 2026.

    The redemption price for premature redemption due on August 12, 2026, shall be ₹15,102/- (Rupees Fifteen Thousand One Hundred and Two Only) per unit of SGB

    Read More

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    Date: August 11,2026.

    RBI invites public comments on the draft Directions on ‘Credit Valuation Adjustment (CVA) Framework’

    Excerpts:

    Credit Valuation Adjustment (CVA) reflects the adjustment to the default risk-free prices of derivatives to account for potential counterparty default.

    CVA risk refers to losses resulting from changes in CVA values, driven by shifts in counterparty credit spreads and market risk factors.

    The CVA capital charge ensures banks hold sufficient capital to cover these risks.

    Accordingly, the Reserve Bank has released on August 07,2026 the Reserve Bank of India (Commercial Banks – Credit Valuation Adjustment Framework) Directions, 2026.

    Read More

    Draft - Reserve Bank of India (Commercial Banks – Credit Valuation Adjustment Framework) Directions, 2026

    Top / Back to Home Page.


    Date: August 10,2026.



    Happenings in Banking and Finance.




    Bank Fixed Deposit Interest Rates-Public and Private Banks

    updated on August 07,2026.

    * *
    Banks 1 Year 3 years 5 years Max Interest
    Bank of Baroda 6.25 6.25 6.30 6.75-555 days
    Bank of India 6.50 6.70 6.00 6.85-999 days
    Canara Bank 6.25 6.25 6.25 6.60 555days
    Central Bank 6.10 6.00 6.00 6.70-444 days
    Indian Bank 6.10 6.05 6.00 6.65-555days
    Indian Overseas Bank 6.50 6.10 6.10 6.60-444days
    Punjab National Bank 6.25 6.30 6.35 6.60-444 days
    Punjab and Sind Bank 5.85 5.85 5.95 6.85-666 days
    UCO Bank 6.10 6.00 6.00 6.60-535 days
    Union Bank 6.20 6.10 6.00 6.55-555 days
    State Bank of India 6.25 6.30 6.05 6.45-444 days
    IDBI Bank. 6.20 6.35 6.25 6.45--700 days
    HDFC Bank 6.25 6.45 6.40 6.50-3yr+1day
    ICICI Bank. 6.25 6.45 6.50 6.50-3yr+1 day
    Axis Bank 6.25 6.50 6.50 6.50-18 months
    SCB Bank. 6.60 6.50 6.25 6.60-1 year
    Deposit Interest Rates subject to change .
    Confirm Interest Rates from respective banks .
    Please note most of the Banks offer additional 0.50 % interest to Senior Citizens
    Confirm Interest Rates from respective banks .
    Top Home

    Date: August 05,2026.

    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee August 3 to 5, 2026

    Excerpts:

    The MPC voted unanimously to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 5.25 per cent.

    Consequently, the standing deposit facility (SDF) rate remains at 5.00 per cent and

    The marginal standing facility (MSF) rate and the Bank Rate remain at 5.50 per cent.

    The MPC also decided to continue with the neutral stance.

    Read More

    What is Cash Reserve Ratio (CRR),Statutory Liquidity Ratio (SLR) , Repo Rate , Reverse Repo Rate and Bank Rate ?

    Policy Rates

    Top / Back to Home Page.

    Date: August 05,2026.

    National Career Service (NCS) Portal

    Excerpts:

    National Career Service Portal Mobilizes Over 10.05 Crore Vacancies Since Inception

    More than 6.64 Crore Jobseekers Registered on National Career Service Portal Since Inception

    Over 17.68 Lakh Active Vacancies Available on National Career Service Portal as on 15 July 2026

    Over 40 MoUs signed till date between NCS and private partners.

    Posted On: 05 AUG 2026 8:58AM by PIB Delhi

    The Ministry of Labour & Employment is implementing the National Employment Service to facilitate job seekers and employers and to provide employment assistance services such as registration of job seekers, collection of vacancies from enterprises, vocational & counseling guidance, etc.

    The National Employment Service has been transformed into the National Career Service (NCS).

    The NCS Portal is a one-stop solution for providing career related services including jobs from private and government sectors, information on online & offline job fairs, job search & matching, career counselling, vocational guidance, information on skill development courses, skill/training programmes etc. through a digital platform [www.ncs.gov.in].

    Read More

    Top / Back to Home Page.

    Date: August 02,2026.

    Reserve Bank of India issues Consolidated Supervisory Directions

    Excerpts:

    The following set of final documents are issued this day July 31,2026.:

    Master Directions consolidating all instructions currently administered by the Department of Supervision, on an ‘as is’ basis.
    These instructions have been issued separately for 11 types of regulated entities and are cohesively organised across up to nine functional areas.
    These Directions are accessible on the RBI Website at Notifications → Master Directions → Department of Supervision and will serve as the sole library of instructions administered by the Department of Supervision.

    In parallel, a circular dated July 31, 2026, listing the 628 circulars that are being repealed / withdrawn, consequent upon the issue of these consolidated Master Directions has been issued.
    The repealed circulars can be accessed under Notifications → Circulars Withdrawn → Circulars withdrawn by the Department of Supervision.

    Read More

    Master Directions

    Reserve Bank of India (Commercial Banks - Compliance Function) Directions, 2026

    Reserve Bank of India (Commercial Banks – Cybersecurity, Technology: Risk, Resilience and Assurance Framework) Directions, 2026

    Reserve Bank of India (Commercial Banks – Digital Payment Security Controls) Directions, 2026

    Reserve Bank of India (Commercial Banks – Fraud Risk Management) Directions, 2026

    Reserve Bank of India (Commercial Banks - Internal Audit Function) Directions, 2026

    Reserve Bank of India (Commercial Banks – Statutory Audit) Directions, 2026

    Reserve Bank of India (Commercial Banks – Supervisory Returns) Directions, 2026

    Reserve Bank of India (Commercial Banks – Miscellaneous) Supervisory Directions, 2026

    Top / Back to Home Page.

    Date: August 01,2026.

    DA from August to October 2026 payable to Bank Officers,Clerks,Sub-staff.

    Serial No: Months
    		 CPI-IW Index (Base 2016=100).
    1. April 2026
    		 149.90
    2. May 2026
    		 150.80
    3. June 2026
    		 151.90
    4. Average Index Current Quarter 150.86
    5. Index above 123.03 points
    		27.83
    6. Dearness Relief for current Quarter(percentage)
    		27.83
    7. Dearness Relief paid for previous Quarter(percentage)
    		25.70
    8. Change in Dearness Relief for current Quarter(percentage)
    		2.13

    DA / Salary Chart from August 2026.

    Starting Salary of Bank Officers,Clerks and Sub-Staff.

    Bank Fixed Deposit Interest Rates-Public and Private Banks

    updated on July 11, 2026.

    * *
    Banks 1 Year 3 years 5 years Max Interest
    Bank of Baroda 6.25 6.25 6.30 6.75-555 days
    Bank of India 6.50 6.70 6.00 6.85-999 days
    Canara Bank 6.25 6.25 6.25 6.60 555days
    Central Bank 6.10 6.00 6.00 6.50-333 days
    Indian Bank 6.10 6.05 6.00 6.30-300days
    Indian Overseas Bank 6.50 6.10 6.10 6.60-444days
    Punjab National Bank 6.25 6.30 6.35 6.60-444 days
    Punjab and Sind Bank 5.85 5.85 5.95 6.85-666 days
    UCO Bank 6.10 6.00 6.00 6.60-535 days
    Union Bank 6.20 6.10 6.00 6.65-555 days
    State Bank of India 6.25 6.30 6.05 6.45-444 days
    IDBI Bank. 6.20 6.35 6.25 6.45--700 days
    HDFC Bank 6.25 6.45 6.40 6.50-3yr+1day
    ICICI Bank. 6.25 6.45 6.50 6.50-3yr+1 day
    Axis Bank 6.25 6.50 6.50 6.50-18 months
    SCB Bank. 6.60 6.50 6.25 6.60-1 year
    Deposit Interest Rates subject to change .
    Confirm Interest Rates from respective banks .
    Please note most of the Banks offer additional 0.50 % interest to Senior Citizens
    Confirm Interest Rates from respective banks .
    Top Home

    July 09, 2026.
    All about income tax on salary-Financial Year 2025-26.

    A comprehensive guide.
    Kind attention Salaried Individuals and Pensioners:

    The last date for filing your Income Tax Return for the financial Year 2025-26 is nearing. Don't wait till the last day for filing the Income Tax Returns.
    For most of the salaried individuals and pensioners July 31,2026 is the last date for filing the return.
    Here are some Income Tax related information and Calculators which may be of some help to you.

    Income Tax Calculator- FY 2025-26.

    Income Tax Rates FY 2025-26.

    Finance Bill 2025

    Income Tax Act 1961-Asamended by Finance Act 2025

    Income Tax important sections for availing deductions from Income.

    Deduction limits

    NSC VIII th Issue -Interest eligible for deduction U/S 80C FY 2025-26.

    NSC Interest and Maturity Value Calculator

    NSC Accrued Interest Chart

    ***************************************************************

    Important points to remember:

    Standard Deductions:
  • Standard Deductions -New Tax Regime Max Rs 75000.
  • Standard Deductions Old Tax Regime Max Rs 50000.
  • Standard Deductions Family Pensioners Max Rs 25000.

    • Section 87A. New Tax Regime
  • A resident individual (whose net income does not exceed Rs.12,00,000) can avail rebate under section 87A.

  • It is deductible from income-tax before calculating education cess.
  • The amount of rebate is 100 per cent of income-tax or Rs. 60000, whichever is less.

    • Section 87A: Old Tax Regime

  • A resident individual (whose net income does not exceed Rs. 5,00,000) can avail rebate under section 87A.

  • It is deductible from income-tax before calculating education cess.

  • The amount of rebate is 100 per cent of income-tax or Rs. 12,500, whichever is less.


    • Section 80TTA-Interest frrom Savings Bank Account: Old Tax Regime
  • For Individuals other than senior Citizens :Max Rs10000.

  • Interest on Fixed and other deposits not allowed.


    • Section 80TTB-Interest frrom Savings Bank and Fixed Deposit Accounts Account: Old Tax Regime
  • For Senior Citizens :Interest from Savings and Fixed Deposit Accounts: Max Rs50000.

    Note:Information displayed are for personal use only.
    All reules and regulations are subject to change.
    Before taking any action consult Tax Consultants.
    Thank you for visiting my Website.
  • Your suggestions / Comments will help me improve this page.
  • You may E-mail your suggestions/ comments to "ssm_dindigul@yahoo.co.in"
  • Subramanian S (Retd Manager,United Bank of India.)


    • Date: July 08,2026.

    Revised Kisan Credit Card (KCC) Scheme

    Read More

    RBI issues Circular on Lead Bank Scheme

    Read More

    Reserve Bank of India (Regional Rural Banks – Cash Reserve Ratio and Statutory Liquidity Ratio) Third Amendment Directions, 2026

    Read More

    Reserve Bank of India (Commercial Banks – Cash Reserve Ratio and Statutory Liquidity Ratio) Third Amendment Directions, 2026

    Read More

    Reserve Bank of India (Commercial Banks – Interest Rate on Deposits) Amendment Directions, 2026

    Read More

    RBI issues Master Direction – Reserve Bank of India (Credit Derivatives) Directions, 2026

    Read More

    RBI releases draft Master Direction - Reserve Bank of India (Call, Notice and Term Money Markets) Directions, 2026

    Read More

    RBI releases draft Master Direction – Reserve Bank of India (Secondary Market Transactions in Government Securities) Directions, 2026

    Read More

    Review of Circulars issued under Foreign Exchange Management Act, 1999 (FEMA)

    Read More

    RBI Issues Amendment Directions on ‘Review of Framework of Limiting Customer Liability in Digital Transactions’

    Read More

    Top / Back to Home Page.

    Date: June 28,2026.

    DIKSHA: Powering India's Digital Learning Ecosystem

    Excerpts: Posted On: 28 JUN 2026 12:06PM by PIB Delhi A National Platform for Education

    Digital Infrastructure for Knowledge Sharing (DIKSHA) is an open-source platform that provides easy access to high-quality, curriculum-linked digital learning materials in multiple languages to students and teachers across the country. It is a key component of the PM e-Vidya initiative of the Ministry of Education that aims to ensure continuity of learning through online means.

    DIKSHA can be customised to suit different needs and has therefore been widely accepted and adopted by various boards in almost all states and UTs

    DIKSHA aims to create a dynamic learning ecosystem powered by technology and innovation.

    It promotes accessible, engaging, and personalised experiences for diverse learner needs.

    The platform features media-rich, interactive resources, including 2D/3D animations, AR experiences, simulations, virtual labs, and sign language videos, designed to enhance conceptual clarity and cater to diverse learning styles.

    DIKSHA empowers personalised learning with unlimited practice questions, detailed solutions, adaptive assessments, and competency-based question banks that identify gaps and enable timely remediation.

    This integrated ecosystem—combining content creation, curation, consumption, and analytics—drives inclusive, data-informed, and joyful learning aligned with NEP 2020.

    Platform Structure and Content Verification

    The DIKSHA platform is designed to ensure decentralised participation and rigorous content validation. Its structure enables contribution while maintaining quality standards through periodic review.

    The platform operates on a federated architecture, enabling each participant to upload and manage content independently.

    The Central Institute of Educational Technology (CIET-NCERT) periodically validates participant content based on prescribed guidelines.

    DIKSHA platform supports both online and offline accessibility. Learners can download content in advance and access it conveniently without an active internet connection.

    States and Union Territories preload content on Smart Class boards to ensure dependable offline access. Excerpts:

    Read More



    Top / Back to Home Page.

    Date: June 27,2026.

    RBI issues Master Direction – Reserve Bank of India (Credit Derivatives) Directions, 2026

    Excerpts:

    Read More

    Master Direction – Reserve Bank of India (Credit Derivatives) Directions, 2026

    Excerpts:

    Read More

    RBI releases draft Master Direction - Reserve Bank of India (Call, Notice and Term Money Markets) Directions, 2026

    Excerpts:

    Read More

    Master Direction- Reserve Bank of India (Call, Notice and Term Money Markets) Directions, 2026 - Draft

    Excerpts:

    Read More

    RBI releases draft Master Direction – Reserve Bank of India (Secondary Market Transactions in Government Securities) Directions, 2026

    Excerpts:

    Read More

    Master Direction - Reserve Bank of India (Secondary Market Transactions in Government Securities) Directions, 2026 – Draft

    Excerpts:

    Read More

    RBI Issues Amendment Directions on ‘Review of Framework of Limiting Customer Liability in Digital Transactions’

    Excerpts:

    Read More

    Reserve Bank of India (Commercial Banks - Responsible Business Conduct) Third Amendment Directions, 2026

    Excerpts:

    Read More

    Top / Back to Home Page.

    Date: June 21,2026.

    RBI issuesed Circular on Lead Bank Scheme on June 19,2026

    Excerpts:

    Objective of Lead Bank Scheme

    LBS aims at coordinating the activities of banks, government and other developmental agencies through fora established under the Scheme to achieve the following:
  • a) enhancing flow of credit to priority sectors for achieving inclusive growth.
  • b) deepening financial inclusion through improved access and usage of financial services.
  • Framework of the Scheme

    Lead Bank:

  • i) RBI shall designate a commercial bank as Lead Bank in each district, to coordinate the efforts of the banks, Government, National Bank for Agriculture and Rural Development (NABARD) and other stakeholders at the district level to improve credit flow to the priority sectors and promote financial inclusion in the district.
  • ii) The list of district-wise Lead Banks is given in Annex-1.

    Lead District Manager (LDM):

    Every Lead Bank shall appoint a Lead District Manager (LDM) in each district where it has lead bank responsibility, to exclusively oversee and coordinate the implementation of LBS in the district.

    District Development Manager (DDM):

    NABARD shall appoint a District Development Manager (DDM) for each district to act as a liaison between NABARD and the district-level banking and financial institutions in promoting rural credit, implementing financial inclusion initiatives, and supporting agricultural and rural development activities in the district.

    Lead District Officer (LDO): RBI shall designate one of its officers as Lead District Officer (LDO) for each district. The LDO shall represent the Bank at the district level under the LBS.

    SLBC Convenor Bank:

    i) RBI shall designate one commercial bank with significant presence in the State / Union Territory (UT) as the State Level Bankers’ Committee (SLBC) Convenor Bank / UT Level Bankers’ Committee (UTLBC) Convenor Bank.

    ii) List of State and UT-wise SLBC / UTLBC Convenor Banks is given in Annex-1.

    SLBC Convenor:

    SLBC Convenor bank in each State / UT shall designate a General Manager of the bank as the SLBC Convenor. In case no General Manager level official is available, the Zonal Head of the Convenor bank (not below rank of DGM) may be designated as Convenor.

    Fora under the Lead Bank Scheme

    The scheme shall function through a three-tier structure in each State / UT, with Block Level Bankers’ Committee (BLBC) at the base level, District Consultative Committee (DCC) and District Level Review Committee (DLRC) at the intermediate level, and SLBC / UTLBC at the apex level. Each of these fora shall broadly comprise of banks, government agencies and other stakeholders.

    Block Level Bankers’ Committee (BLBC)

    5.1 Purpose

    BLBC shall be constituted in each block of a district for achieving coordination at the block level among banks, government and field level development agencies. BLBC shall prepare and review the implementation of the Block Credit Plan and resolve operational issues in the implementation of credit programmes at the block level. Read More- Lead Bank Scheme revised RBI Circular

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    • Date: June 21,2026.

    Minutes of the Monetary Policy Committee Meeting, June 3 to 5, 2026

    Excerpts:

    MPC voted unanimously to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 5.25 per cent.

    The standing deposit facility (SDF) rate remains at 5.00 per cent and

    The marginal standing facility (MSF) rate and the Bank Rate remain at 5.50 per cent.

    The MPC also decided to continue with the neutral stance.

    Read More

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    Date: June 20,2026.

    Revised Kisan Credit Card (KCC) Scheme

    Excerpts:

    The Reserve Bank of India had, on February 12, 2026, issued the Draft Directions on Revised Kisan Credit Card (KCC) Scheme for public / stakeholder feedback.

    Reserve Bank has issued the final Directions as given below:

    Reserve Bank of India [Commercial Banks - Kisan Credit Card (KCC) Scheme] Directions, 2026

    Reserve Bank of India [Small Finance Banks - Kisan Credit Card (KCC) Scheme] Directions, 2026.

    Reserve Bank of India [Regional Rural Banks - Kisan Credit Card (KCC) Scheme] Directions, 2026.

    Reserve Bank of India [Rural Co-operative Banks - Kisan Credit Card (KCC) Scheme] Directions, 2026.

    Read More

    Top / Back to Home Page.

    Date: June 17,2026.

    RBI Issues Master Directions on Authorisation to operate a Payment System

    Excerpts:

    Today, RBI has issued Master Directions on Authorisation to operate a Payment System which consolidates instructions issued through following circulars/ guidelines, and comes into effect immediately:
    Computation of Net-worth dated January 16, 2015.
    Guidelines for Voluntary Surrender of Certificate of Authorisation dated May 12, 2016.
    On-tap Authorisation of Payment Systems dated October 15, 2019.
    Authorisation of entities for operating a Payment System under the PSS Act – Introduction of Cooling Period dated December 04, 2020.
    Perpetual Validity for Certificate of Authorisation (CoA) issued to Payment System Operators dated December 04, 2020.
    Investment in Entities from FATF Non-compliant Jurisdictions dated June 14, 2021.
    Framework for Voluntary Surrender of Certificate of Authorisation dated May 12, 2023.
    Read More.

    Master Directions on Authorisation to operate a Payment System

    Top / Back to Home Page.
    Date: June 08,2026.

    RBI invites comments on the draft “Reserve Bank of India (Interest Rate on Deposits) Amendment Directions, 2026

    Excerpts:

    Read More

    Draft Reserve Bank of India (Commercial Banks – Interest Rate on Deposits) Amendment Directions, 2026

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    Date: June 05 ,2026.

    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee June 3 to 5, 2026

    Excerpts:

    MPC voted unanimously to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 5.25 per cent.

    Consequently, the standing deposit facility (SDF) rate remains at 5.00 per cent and

    the marginal standing facility (MSF) rate and the Bank Rate remain at 5.50 per cent.

    The MPC also decided to continue with the neutral stance.

    Read More

    Latest RBI Policy Rates-Repo Rate, Bank Rate, CRR, SLR etc---

    Top / Back to Home Page.

    Date: May 30,2026.

    Department of Financial Services Launches Common Landing Portal for Unclaimed Financial Assets

    Excerpts:

    Single unified online platform for citizens to search and trace unclaimed bank deposits, insurance claims, shares and mutual funds across the financial ecosystem

    The Portal will improve citizen convenience and strengthen efforts to reconnect individuals with their rightful financial assets.

    Read More

    Visit the Portal for Unclaimed Financial Assets

    ITR-1 (Sahaj) Online User Manual

    Read More

    Top / Back to Home Page.

    Date: May 29,2026.

    RBI Press Release- Quantum Secure and Adaptive Financial Ecosystem (Q-SAFE) – Setting up of an Expert Committee

    Excerpts:

    The Terms of Reference of the Committee are:

    Explore and evaluate the potential benefits, risks and challenges in the financial sector.

    Evaluate the financial sector's cryptographic inventory through a Cryptography Bill of Materials (CBOM), assess crypto agility and identify the critical systems and processes most vulnerable to such threats.

    Undertake a cross-country analysis and assess the adequacy of existing regulatory frameworks for safe deployment of quantum applications.

    Evaluate industry preparedness for quantum-safe cryptography adoption, including the availability, scalability, and maturity of vendor tools and solutions.

    Recommend a roadmap and framework to quantum-secure the Indian financial system.

    Any other areas incidental to the objective.

    Read More.

    Date: May 29,2026.

    India’s Insolvency Framework

    Excerpts:

    India’s insolvency framework has undergone a major transformation through the Insolvency and Bankruptcy Code, 2016 (IBC).

    It introduced a unified, creditor-driven and time-bound mechanism for resolving financial distress. Over the years, the Code has strengthened recovery mechanisms and improved resolution outcomes.

    Read More

    THE INSOLVENCY AND BANKRUPTCY CODE, 2016

    Top / Back to Home Page.

    Date: May 19,2026.

    RBI invites comments on the draft “Reserve Bank of India (Capital Adequacy) Amendment Directions, 2026”

    Excerpts:

    Read More.

    Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Seventh Amendment Directions, 2026.

    Reserve Bank of India (Small Finance Banks – Prudential Norms on Capital Adequacy) Fifth Amendment Directions, 2026

    Top / Back to Home Page.

    Date:May 17.05.2026.

    FAQs on New Tax vs Old Tax Regime

    It is time to think of filing Income Tax returns. For salaried Individuals and Pensioners 31st July 2026 is last date for filing the returns for FY 2025-26.

    For the benefit of tax payers Income Tax Department posted FAQs on New Tax vs Old Tax Regime in their website.

    Follow the link given below to know more.

    Excerpts:

    What is the difference between the old and new tax regime?

    Which is better between the old tax regime and the new tax regime?

    Is it necessary for the employee to intimate the tax regime to the employer?

    I am a salaried taxpayer. Can I claim HRA exemption in the new regime?

    Am I eligible for Rs. 50,000 standard deduction in the new tax regime?

    In the new tax regime can I claim deductions under chapter-VIA like section 80C, 80D, 80DD, 80G etc. while filing the ITR for AY 2024-25?

    Can I claim deduction of Interest on borrowed capital of Rs. 2,00,000/- for self occupied property under Income from House Property in the new tax regime?

    I am a senior citizen. In the old tax regime there are special advantages in tax rates for senior citizens. Are there any such advantages in new tax regime?

    Is there any difference in tax rebate under section 87A in old and new tax regime?

    Read More.

    Top / Back to Home Page.


    Date May 04,2026.

    RBI reiterates caution against unauthorised and misleading campaigns promising Loan Waivers

    Excerpts:

    These campaigns, among others, involve

    (i) false promises of waiver of outstanding dues to banks / Non-Banking Financial Companies (NBFCs);

    (ii) issuance of ‘debt waiver certificates’ or similar documents; and

    (iii) collection of fees under various pretexts, including service or legal charges, from uninformed public. It is reiterated that any claims by individuals / entities offering such services are false, misleading, and liable to attract appropriate legal action under applicable Statutes.

    Members of the public are therefore requested to refrain from associating with or availing services from such individuals / entities.

    Read More

    Top / Back to Home Page.

    Date May 02, 2026.

    Reserve Bank of India (Commercial Banks – Credit Risk Management) Third Amendment Directions, 2026

    Excerpts:

    Read More

    Reserve Bank of India (Commercial Banks – Resolution of Stressed Assets) Second Amendment Directions, 2026

    Excerpts:

    Read More

    Reserve Bank of India (Commercial Banks – Resolution of Stressed Assets) Directions, 2025

    Excerpts:

    Read More

    Final redemption under Sovereign Gold Bond (SGB) Scheme - Redemption Price for final redemption of SGB 2018-19 Series-I due on May 04, 2026

    Excerpts: The final redemption date of the above tranche shall be May 04, 2026.

    The redemption price for final redemption due on May 04, 2026, shall be ₹14901/- (Rupees Fourteen Thousand Nine Hundred and One only) per unit of SGB

    Read More

    Top / Back to Home Page.

    Date April 28,2026.

    Reserve Bank of India (Commercial Banks - Capital Charge for Credit Risk – Standardised Approach) Directions, 2026

    Read More

    RBI issues Directions on Asset Classification, Provisioning, and Income Recognition for Commercial Banks



    Read More

    Top / Back to Home Page.

    Date April 22,2026.

    RBI issues Consolidated directions on Digital Payments – E-mandate framework, 2026

    Read RBI Notification.

    Digital Payments – E-mandate Framework, 2026

    Excerpts:

    A customer desirous of opting for e-mandate facility shall undertake a one-time registration process. The mandate shall be registered only after successful validation of additional factor of authentication (AFA), in addition to the normal process required by the issuer.

    Every e-mandate registered by the issuer shall specify the validity period of the e-mandate.

    The e-mandate may be for either a pre-specified fixed amount or for a variable amount subject to the overall cap fixed by the RBI

    The first transaction under an e-mandate shall require AFA validation.

    Pre-transaction Notification

    (a) An issuer shall send a pre-transaction notification to the customer, at least 24 hours prior to the actual charge / debit.

    (b) The pre-transaction notification shall, at the minimum, inform the customer about the merchant’s name, transaction amount, date / time of debit, reference number of e-mandate, reason for debit, i.e., e-mandate registered by the customer.

    (c) The issuer shall provider a customer with a facility to opt-out of any particular transaction or the e-mandate. Any such opt-out shall be validated by the issuer using AFA. An intimation to this effect shall be sent to the customer.

    Read RBI Master Directions
    Date April 17,2026.

    RBI issues Amendment Directions on ‘Non-Banking Financial Companies – Branch Authorisation Directions’

    Read More

    Reserve Bank of India (Non-Banking Financial Companies – Branch Authorisation) Amendment Directions, 2026



    Read More

    Reserve Bank of India (Non-Banking Financial Companies – Acceptance of Public Deposits) Directions, 2025 (Updated as on April 15, 2026)

    Read More.

    Reserve Bank of India (Housing Finance Companies) Directions, 2025 (Updated as on April 15, 2026)

    Read More.

    Top / Back to Home Page.

    Date April 14,2026.

    NSC-National Savings Certificae-Interest Rates,Yearly Interest Accretion,Maturity Value Chart- From 2017 to 2026

    Read More

    Top / Back to Home Page.

    Date April ,2026.

    RBI invites comments on the Draft “Reserve Bank of India (Branch Authorisation) Amendment Directions, 2026”

    Read More

    Draft – Reserve Bank of India (Commercial Banks - Branch Authorisation) Amendment Directions, 2026

    Read More

    Reserve Bank of India (Commercial Banks - Branch Authorisation) Directions, 2025

    Read More

    Top / Back to Home Page.

    Date April 04, 2026.

    Floating Rate Savings Bonds, 2020 (Taxable) - FRSB 2020 (T) - Operational Guidelines

    Read More

    Read All about Floating Rate Savings Bonds, 2020 (Taxable).

    Top / Back to Home Page.

    Post Office Small Savings Interest Rates-FY 2026-27.
    Interest Rates unchanged for the quarter April 2026 to June 2026.
    Scheme Name 2026
    Apr-Jun    		 2026
    Jul-Sep    		 2026
    Oct-Dec    		 2027
    Jan-Mar
    Savings Deposit 4.00 **** **** ****
    1 Year Time Deposit 6.90 **** **** ****
    2 Year Time Deposit 7.00 **** **** ****
    3 Year Time Deposit 7.10 **** **** ****
    5 Year Time Deposit 7.50 **** **** ****
    5 Year Recurring Deposit 6.70 **** **** ****
    5yr Senior Citizen's Savings 8.20 **** **** ****
    5yr Monthly Income Deposit 7.40 **** **** ****
    National Savings Certificate. 7.70 **** **** ****
    Public Provident Fund 7.10 **** **** ****
    Kisan Vikas Patra 7.50 **** **** ****
    Sukanya Samriddhi Account. 8.20 **** **** ****

    Know your NSC Accrued Interest eligible for deduction from Income tax for FY 2026-27.

    Nsc Yearwise-Interest Accretion-Chart


    Date March 30,2026.

    Payments Vision 2028

    Read More

    Payments Vision 2028 Department of Payment and Settlement Systems, Reserve Bank of India.

    RBI releases Master Direction on Unique Identifiers in Financial Markets

    Read More

    Master Direction - Reserve Bank of India (Unique Identifiers in Financial Markets) Directions, 2026

    Read More

    Top / Back to Home Page.

    March 21, 2026.
    All about income tax on salary-Financial Year 2025-26.

    A comprehensive guide.
    Income Tax Calculator- FY 2025-26.

    Income Tax Rates FY 2025-26.

    Finance Bill 2025

    Income Tax Act 1961-Asamended by Finance Act 2025

    Income Tax important sections for availing deductions from Income.

    Deduction limits

    NSC VIII th Issue -Interest eligible for deduction U/S 80C FY 2025-26.

    NSC Interest and Maturity Value Calculator

    NSC Accrued Interest Chart

    HRA Rebate Calculator.

    ***************************************************************

    Important points to remember:

    Standard Deductions:
  • Standard Deductions -New Tax Regime Max Rs 75000.
  • Standard Deductions Old Tax Regime Max Rs 50000.
  • Standard Deductions Family Pensioners Max Rs 25000.

    • Section 87A. New Tax Regime
  • A resident individual (whose net income does not exceed Rs. 7,00,000) can avail rebate under section 87A.

  • It is deductible from income-tax before calculating education cess.
  • The amount of rebate is 100 per cent of income-tax or Rs. 25000, whichever is less.


    • Section 87A: Old Tax Regime

  • A resident individual (whose net income does not exceed Rs. 5,00,000) can avail rebate under section 87A.

  • It is deductible from income-tax before calculating education cess.

  • The amount of rebate is 100 per cent of income-tax or Rs. 12,500, whichever is less.


    • Section 80TTA-Interest frrom Savings Bank Account: Old Tax Regime
  • For Individuals other than senior Citizens :Max Rs10000.

  • Interest on Fixed and other deposits not allowed.


    • Section 80TTB-Interest frrom Savings Bank and Fixed Deposit Accounts Account: Old Tax Regime
  • For Senior Citizens :Interest from Savings and Fixed Deposit Accounts: Max Rs50000.

    Thank you for visiting my Website.
  • Your suggestions / Comments will help me improve this page.
  • You may E-mail your suggestions/ comments to "ssm_dindigul@yahoo.co.in"
  • Subramanian S (Retd Manager,United Bank of India.)


    • -->
    Date March 10,2026.

    Master Circular - Credit facilities to Scheduled Castes (SCs) & Scheduled Tribes (STs)

    Excerpts:

    Read More

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    Date February 27,2026.

    Reserve Bank of India (Commercial Banks - Internal Ombudsman) Directions, 2026.

    Read More

    Top / Back to Home Page.



    Date February 25,2026.

    Sovereign Gold Bond (SGB) Scheme
    Calendar for premature redemption during April 2026 – September 2026

    Read More
     

    Sovereign Gold Bond Scheme of the Government of India (GoI) - Procedural Guidelines - Consolidated (Updated as on October 04, 2022)

    Read More
     

    Minutes of the Monetary Policy Committee Meeting, February 4 to 6, 2026

    Excerpts:

    The MPC voted unanimously to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 5.25 per cent.
    Consequently, the standing deposit facility (SDF) rate remains at 5.00 per cent and
    The marginal standing facility (MSF) rate and the Bank Rate remains at 5.50 per cent.
    The MPC also decided to continue with the neutral stance.

    Read More.

    Top / Back to Home Page.



    Date February 17,2026.

    Budget 2026-Tax Rates prposed for the Tax Year 2026-27



    Read More

    Top / Back to Home Page.



    Date February 15,2026.

    RBI issues Amendment Directions on Capital Market Exposure

    Read More

    Reserve Bank of India (Commercial Banks – Credit Facilities) Amendment Directions, 2026
     

    RBI Issues Draft Amendment Directions for instructions on ‘Lending to Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs)

    Read More

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    Date February 13,2026.

    RBI Issues Draft Amendment Directions for ‘Conduct of Regulated Entities in Recovery of Loans and Engagement of Recovery Agents’

    Excerpts:

    Detailed instructions on matters related to engagement of recovery agents have been issued to Scheduled Commercial Banks (excluding Regional Rural Banks) and Housing Finance Companies currently.

    Upon a review, it has been decided to issue comprehensive instructions to all regulated entities on conduct related matters in recovery of loans and engagement of recovery agents, which inter alia cover aspects such as fair treatment to borrowers during recovery process, conduct of lender’s employees and recovery agents, due diligence, training, code of conduct for recovery agents, etc.

    (RBI) has today issued the following draft Amendment Directions for public comments, which propose to amend existing Directions issued by the Department of Regulation, RBI.

    Reserve Bank of India (Commercial Banks - Responsible Business Conduct) Second Amendment Directions, 2026

    Reserve Bank of India (Small Finance Banks - Responsible Business Conduct) Second Amendment Directions, 2026

    Reserve Bank of India (Local Area Banks - Responsible Business Conduct) Second Amendment Directions, 2026

    Reserve Bank of India (Regional Rural Banks - Responsible Business Conduct) Second Amendment Directions, 2026

    Reserve Bank of India (Urban Co-operative Banks - Responsible Business Conduct) Second Amendment Directions, 2026

    Reserve Bank of India (Rural Co-operative Banks - Responsible Business Conduct) Second Amendment Directions, 2026

    Reserve Bank of India (All India Financial Institutions - Responsible Business Conduct) Second Amendment Directions, 2026

    Reserve Bank of India (Non-Banking Financial Companies - Responsible Business Conduct) Second Amendment Directions, 2026

    Reserve Bank of India (Housing Finance Companies) Second Amendment Directions, 2026

    Read More

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    Date February 12,2026.

    Revised Kisan Credit Card (KCC) Scheme

    Excerpts:

    The following major changes in the KCC Scheme are reflected in the draft guidelines:

    To bring in uniformity in loan sanction and repayment schedules, crop seasons have been standardized in terms of months i.e. short duration crops (12 months) and long duration crops (18 months)

    To ensure proper dovetailing of loan tenure with crop seasons especially for the longer duration crops, the tenure of KCC has been extended to 6 years.

    To ensure that farmers receive adequate credit based on actual cost of cultivation, drawing limits under KCC has been aligned with the scale of finance for each crop season.

    To enable farmers to access finance for technological interventions such as soil testing, real time weather forecasts and organic/good agricultural practices certification etc such expenses has been added as eligible components within 20% additional component towards repairs and maintenance of farm assets.

    Read More

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    Date February 01,2026.

    UNION BUDGET 2026-27.

    SUMMARY OF UNION BUDGET 2026-27

    Read More

    HIGHLIGHTS OF UNION BUDGET 2026-27

    Read More

    BUDGET AT A GLANCE 2026-2027


    Read More

    Key to Union Budget 2026-27.

    Read More

    Memorandum explaining the provisions in the Finance Bill 2026.

    Read More

    Finance Bill 2026

    Read More

    New Income Tax Act 2025

    Read More

    Income Tax Act 1961.
    (As amended by Finance Act-2025).

    Read More

    Mapping of sections in Income Tax Act 1961 and New Income Tax Act 2025.

    Read More

    Top / Back to Home Page.



    Date January 23,2026.

    Reserve Bank of India (Commercial Banks – Cash Reserve Ratio and Statutory Liquidity Ratio) Amendment Directions, 2026

    Excerpts:

    Read the Directions as amended upto December 22,2026.

    Reserve Bank of India (Commercial Banks – Cash Reserve Ratio and Statutory Liquidity Ratio) Amendment Directions, 2026

    Top / Back to Home Page.



    Date January 21,2026.

    Reserve Bank of India (Priority Sector Lending – Targets and Classification) (Amendment) Directions, 2026

    Excerpts:

    Read More

    Master Directions - Reserve Bank of India (Priority Sector Lending – Targets and Classification) Directions, 2025 (Updated as on January 19, 2026)

    Top / Back to Home Page.



    Date January 18,2026.

    Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 and Directions on Export and Import of Goods and Services

    Read More
     

    RBI Notification No. FEMA 23(R)/2026-RBI January 13, 2026

    Read More



    Top / Back to Home Page.



    Date January 16,2026.

    RBI issues Reserve Bank of India (Internal Ombudsman) Directions, 2026

    Read More

    Reserve Bank of India (Commercial Banks - Internal Ombudsman) Directions, 2026

    Read More

    Top / Back to Home Page.



    Date January 15,2026.

    Reserve Bank of India (Payments Banks - Internal Ombudsman) Directions, 2026

    Excerpts:
    These Directions are issued with a view to strengthen the Internal Grievance Redress mechanism within a bank and ensure a speedy and meaningful resolution of customer complaints by enabling a review before their rejection, by an apex level authority within the bank.


    1. Short Title and Commencement
    • (1) These Directions shall be called the Reserve Bank of India (Payments Banks - Internal Ombudsman) Directions, 2026.
    • (2) These Directions shall come into force with immediate effect except clause 7(2), 14(2) and 14(4) which shall be complied with, latest by June 30, 2026.

      These Directions shall be applicable to Payments Banks (hereinafter collectively referred to as 'banks' and individually as a 'bank') having 10 or more banking outlets in India as on March 31, 2025.

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    Date January 11,2026.

    Banking Laws (Amendment) Act, 2025 -Key Points

    Excerpts:
    • Depositors can nominate up to four persons for their bank accounts via either simultaneous for successive nominations
    • Simultaneous nominations allow percentage-wise allocation totalling to 100%
    • Successive nominations ensure seamless succession in case of a nominee’s death for articles in safe custody and safety lockers
       
    • Depositors to get flexibility to designate nominees in accordance with their preferences for deposits and lockers.
    • Strengthened governance standards and improved audit quality in public sector banks
    • Unclaimed funds to be transferred to the Investor Education and Protection Fund
    • Updated regulatory norms with modern thresholds and repor ng standards for greater transparency.

      The Banking Laws (Amendment) Act, 2025 is a step towards strengthening governance standards in the banking sector by ensuring uniformity in reporting by banks to the Reserve Bank of India along with improved audit quality in public sector banks (PSBs). The act enhances depositor and investor protec on by promoting customer convenience through improved nomina on facili es.

      Read More

      Banking Laws (Amendment) Act, 2025

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    Date:November ,2025.

    Government Makes the Four Labour Codes effective to Simplify and Streamline Labour Laws


    Excerpts: Four Labour Codes Herald Transformational Change: Better Wages, Safety, Social Security & Enhanced Welfare for India’s Workforce

    Codes lay the foundation for a protected, future-ready workforce and resilient industries, boosting employment and driving labour reforms for Aatmanirbhar Bharat

    Code aligns India’s labour ecosystem with global standards, ensuring social justice for all workers

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    Code on Wages, 2019 Safeguards Workers, Induces Growth, Empowers Women & Enhances Employment
    Posted On: 23 NOV 2025 11:32AM by PIB Delhi

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    Date:Novenber 23,2025.

    Interlinking of Unified Payments Interface (UPI) with the TARGET Instant Payment Settlement (TIPS) of the Eurosystem

    Excerpts:

    Reserve Bank of India has been actively pursuing interlinking of Unified Payments Interface (UPI) with fast payment systems of other jurisdictions to promote cross-border payments.

    Reserve Bank of India and NPCI International Payments Limited (NIPL) have been engaging with European Central Bank on the initiative to connect UPI with the TARGET Instant Payment Settlement (TIPS), the instant payment system operated by the Eurosystem.

    The proposed UPI–TIPS interlinkage aims to facilitate cross-border remittances between India and the Euro Area and is expected to benefit users of both jurisdictions.



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    Date:Novenber 14,2025.

    Reserve Bank of India (Nomination Facility in Deposit Accounts, Safe Deposit Lockers and Articles kept in Safe Custody with the Banks) Directions, 2025

    Excerpts:

    At the time of account opening, a bank shall explicitly inform the prospective customer of the availability and purpose of the nomination facility and offer him/her the option to avail the same.

    If the prospective customer chooses not to avail the nomination facility despite being fully informed, the bank shall proceed to open the deposit account without imposing any restrictions, if otherwise found eligible, after obtaining a written declaration from the individual confirming that he/ she does not require the nomination facility at the time of account opening. If he/she refuses to provide the written declaration, the bank shall record the fact of refusal to submit written confirmation in the account opening records.

    Under no circumstances shall a prospective customer be denied or delayed in opening an account solely on the ground of refusal to make a nomination, provided all other requirements for account opening are satisfactorily met.

    A bank shall record the status regarding registration of nomination on the face of the passbook/ Statement of Account and TDR, with the legend "Nomination Registered".

    A bank shall also indicate the name of the Nominee(s) in the Passbook/ Statement of Accounts and TDR in such cases.

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    R B I (Settlement of Claims in respect of Deceased Customers of Banks) Directions, 2025

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    Date:October 31,2025.

    Revised DA from November 2025 to January 2026 payable to Bank Officers,Clerks,Sub-staff.

    .
    Serial No: Details CPI-IW Index (Base 2016=100)
    1. July 2025 146.50
    2. August 2025 147.10
    3. September 2025 147.30
    4. Average Index Current Quarter 146.96
    5. Index above 123.03 points 23.93
    6. Dearness Relief for current Quarter(percentage) 23.93
    7. Dearness Relief paid for previous Quarter(percentage) 21.13
    8. Change in Dearness Relief for current Quarter(percentage) 2.80


    DA and Salry Chart-Bank Officers,Clerks and Sub-Staff

    Staff-12th Bipartite Settlement

    Officers Salary Settlement-9th Joint Note

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    Date:October 25,2025.

    Key Provisions relating to Nomination under the Banking Laws (Amendment) Act, 2025 to come into effect from 1st November 2025

    Excerpts: The key features of these provisions are as follows:

    Multiple Nominations: Customers may nominate up to four persons, either simultaneously or successively, thereby simplifying claim settlement for depositors and their nominees.

    Nomination for Deposit Accounts: Depositors may opt for either simultaneous or successive nominations, as per their preference.

    Nomination for Articles in Safe Custody and Safety Lockers: For such facilities, only successive nominations are permitted.

    Simultaneous Nomination:Depositors may nominate up to four persons and specify the share or percentage of entitlement for each nominee, ensuring that the total equals 100 percent and enabling transparent distribution amongst all nominees.

    Successive Nomination: Individuals maintaining deposits, articles in safe custody, or lockers may specify up to four nominees, where the next nominee becomes operative only upon the death of the nominee placed higher, ensuring continuity in settlement and clarity of succession.

    The implementation of these provisions will give depositors the flexibility to make nominations as per their preference, while ensuring uniformity, transparency, and efficiency in claim settlement across the banking system.

    Read More

    THE BANKING LAWS (AMENDMENT) ACT, 2025 No. 16 of 2025.

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    Date:October 14,2025.

    Government Launches Employees' Enrolment Scheme 2025 to Expand Social Security Coverage of Employees
    Posted On: 13 OCT 2025 by PIB Delhi

    Excerpts:

    Scheme to be Operational from November 1, 2025, to April 30, 2026

    Scheme to Boost Employee Enrolment under Social Security and help Employers Regularize Past Records

    This scheme is intended to encourage employers, both already registered and those newly coming under the purview of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, to voluntarily declare and enroll eligible employees.

    Employers can enroll all existing employees who joined the establishment between July 1, 2017, and October 31, 2025, and who are alive and employed on the date of the declaration, but were not enrolled in the EPF scheme earlier for any reason whatsoever.

    The employee's share of provident fund contribution for the past period (from July 1, 2017, to October 31, 2025) shall stand waived, provided it was not deducted from the employee's wages. The employer is only required to pay their own share for such period.

    All the employers who get registered under the EES,2025, or declare additional employees under the EES, 2025 shall be eligible to avail the benefits of Pradhan Mantri-Viksit Bharat Rojgar Yojana, subject to certain terms and conditions under that scheme.

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    Date:October 14,2025.

    Reserve Bank - Integrated Ombudsman Scheme, 2021 (RB-IOS, 2021) NOTIFICATION

    Excerpts from RBI Circular:

    The State Co-operative Banks, and Central Co-operative Banks, as defined in the Banking Regulation Act, 1949, shall also be treated as a ‘Regulated Entity’ for the purpose of Reserve Bank - Integrated Ombudsman Scheme, 2021 (the Scheme).

    This Notification shall come into force with effect from November 01, 2025.

    4. With this inclusion, the Scheme covers the following regulated entities:

    All Commercial Banks, Regional Rural Banks, State Co-operative Banks, Central Co-operative Banks, Scheduled Primary (Urban) Co-operative Banks, and Non-Scheduled Primary (Urban) Co-operative Banks with deposits size of ₹50 crore and above as on the date of the audited balance sheet of the previous financial year;

    All Non-Banking Financial Companies (excluding Housing Finance Companies) which (a) are authorised to accept deposits; or (b) have customer interface, with an assets size of ₹100 crore and above as on the date of the audited balance sheet of the previous financial year;

    All System Participants as defined under the Scheme; and
    Credit Information Companies.

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    Date:October 10,2025.

    Consolidation of Regulations – Drafts for comments

    Excerpts:

    The existing universe of regulatory instructions issued up to October 9, 2025 have been consolidated into 238 Master Directions, across 11 types of regulated entities on up to 30 functions / areas. Consequently, approximately 9000 circulars (including Master Circulars / Master Directions) administered by the Department of Regulation will be repealed.

    the Reserve Bank has placed on its website the following sets of draft documents for comments regarding completeness and accuracy:

    Drafts of the 238 consolidated Master Directions / Guidelines.

    List of the circulars proposed to be repealed

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    RBI invites public comments on the draft Reserve Bank – Ombudsman Scheme, 2025




    Date:October 3,2025.

    Draft External Commercial Borrowing Framework under Foreign Exchange Management (Borrowing and Lending) Regulations, 2018

    Excerpts:

    Salient features of the proposed regulations are as under:
    • The borrowing limits are proposed to be linked to a borrower’s financial strength and ECB are proposed to be raised at market determined interest rates.
    • The end-use restrictions and Minimum Average Maturity requirements are proposed to be simplified.
    • The borrower and lender base eligible for ECB transactions is proposed to be expanded to enhance opportunities of credit flow.
    • Reporting requirements are being simplified to ease compliance obligations.

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      Draft Foreign Exchange Management (Establishment in India of a branch or office) Regulations, 2025



      Excerpts: It has been decided to amend the extant regulations along the following lines:
    • The eligibility criteria for establishment of a place of business in India, are proposed to be relaxed.
    • The draft proposals offer greater operational freedom by shifting from prescriptive to a principle-based framework, which is expected to result in greater operational freedom.
    • The process for closure of non-compliant and inactive branch/office, are proposed to be simplified.

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    Date:October 02,2025.
    RBI Issues draft Directions/ Circulars Excerpts:

    In pursuance of the announcement made in the Statement on Developmental and Regulatory Policies dated October 1, 2025, the Reserve Bank of India (RBI) has today issued the following draft Directions/ Circulars for public comments:
    • 1. Reserve Bank of India (Transaction Accounts) Directions, 2025
    • i.Reserve Bank of India (Commercial Banks – Transaction Accounts) Directions, 2025
    • ii.Reserve Bank of India (Small Finance Banks – Transaction Accounts) Directions, 2025
    • iii.Reserve Bank of India (Regional Rural Banks – Transaction Accounts) Directions, 2025
    • iv.Reserve Bank of India (Local Area Banks – Transaction Accounts) Directions, 2025
    • v.Reserve Bank of India (Urban Co-operative Banks – Transaction Accounts) Directions, 2025
    • vi.Reserve Bank of India (Rural Co-operative Banks – Transaction Accounts) Directions, 2025
    • vii.Reserve Bank of India (Payments Banks – Transaction Accounts) Directions, 2025
    • 2. Guidelines on Enhancing Credit Supply for Large Borrowers through Market (Repeal Circular), 2025
    • 3. Reserve Bank of India (Basic Savings Bank Deposit Account) Directions, 2025
    • Read More

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    Date:September 27,2025.

    Reserve Bank of India (Settlement of Claims in respect of Deceased Customers of Banks) Directions, 2025

    Excerpts:

    A deposit account where a depositor had made nomination in terms of the provisions of the Banking Regulation Act, 1949 or where the account was opened with survivorship clause, the payment of the outstanding balance upon the death of the depositor(s) to the nominee(s)/ survivor(s) shall be considered a valid discharge of a bank’s liability, provided:
    • (i) the bank has exercised due care and caution in establishing the identity of the nominee(s)/ survivor(s) and the deceased status of the account holder(s) by obtaining appropriate documentary evidence (physical or equivalent e-document);
    • (ii) there is no order from the competent court in the knowledge of the bank, as on the date of settlement/ payment, restraining the nominee(s)/ survivor(s) from receiving or the bank from making the payment from the account of the deceased depositor(s); and
    • (iii) it has been made clear in writing to the nominee(s)/ survivor(s) that they would be receiving the payment from the bank as a trustee of the legal heirs of the deceased depositor(s), i.e., such payment to them shall not affect the right or claim which any person may have against the nominee(s)/ survivor(s) to the extent of the payment made to them.
    • In the case of a joint deposit account with or without survivorship clause, the nominee's right arises only after the death of all the depositors.

      Payment made to the nominee(s)/ survivor(s), subject to the foregoing conditions, shall constitute a full and valid discharge of a bank's liability.
      Therefore, in such cases, while making payment to the nominee(s)/ survivor(s) of the deceased depositor(s), the bank shall not insist on production of legal documents such as Succession Certificate, Letter of Administration, Probate of Will, etc., or seek any bond of indemnity/ surety from the nominee(s)/ survivor(s)/ third-party, irrespective of the amount standing to the credit of the deceased account holder(s).

      The bank shall require submission of the following documents in such cases:
    • Claim form, as given in Annex I-A, duly signed by the nominee(s)/ survivor(s);
    • Death certificate of the deceased depositor(s); and
    • Officially Valid Document of the nominee/ survivor towards verifying her/ his identity and address.

      Accounts without nominee/ survivorship clause
      Simplified Procedure for settlement of claims       Keeping in view the imperative need to avoid inconvenience and undue hardship to the legal heir(s)/ claimant(s), a bank shall follow a simplified procedure for settlement of claims in respect of deposit accounts where the aggregate amount payable, including accrued interest, as on the date of the application is less than the threshold limit, provided
    • (i) a deceased depositor(s) had not made any nomination or in case of a joint account, the account was without nominee/ survivorship clause,
    • (ii) there is no Will left behind by the deceased depositor(s),
    • (iii) there is no contesting claim, and
    • (iv) there is no order from a competent court in the knowledge of the bank, restraining the claimant(s) from receiving nor the bank from making the payment.

      (a) Claim amount up to the threshold limit
      The bank shall settle the claim up to the threshold limit based on
    • Claim form, as given in Annex I-B, duly filled in and signed by the claimant(s) other than those who have signed the letter of disclaimer/ no objection;
    • Death certificate of the deceased depositor(s);
    • Officially Valid Document of the claimant(s) towards verifying his/ her identity and address;
    • Bond of indemnity, as given in Annex I-C, signed by the claimant(s);
    • Letter of disclaimer/ no objection, as given in Annex I-D, from non-claimant legal heir(s), if applicable; and
    • Legal Heir Certificate issued by a competent authority;
    • OR Declaration, as given in Annex I-E, regarding the legal heir(s) of the deceased depositor(s) by an independent person who is well known to the family of the deceased, is not a party to the claim and is acceptable to the bank.

      No bond of surety from a third-party shall be obtained in case of claims up to the threshold limit. (b) Claim amount above the threshold limit In cases where claim amount is above the threshold limit, the bank shall settle the claim based on
    • (i) Succession Certificate and documents mentioned at clauses 10(a)(i) to (iii) above; OR
    • (ii) Legal Heir Certificate issued by a competent authority; or
    • Affidavit, as given in Annex I-E, sworn before a Notary Public/ Judge/ Judicial Magistrate regarding the legal heir(s) of the deceased depositor, by an independent person who is well known to the family of the deceased, is not a party to the claim and is acceptable to the bank.
    • In such cases, the bank shall call for the documents at clauses 10(a)(i) to (v) above. The bank may also call for a bond of surety, as given in Annex I-C, from third-party individuals (which may include non-claimant legal heir(s)) who are acceptable to the bank and good for the claim amount.







      Read More

      Read RBI Circular

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    Date:September 26,2025.

    RBI-authentication-mechanisms-for-digital-payments.pdf

    Excerpts: Effective Date:April 01, 2026,unless indicated otherwise for any specific provision herein.

    Definitions: I. Unless the context otherwise requires, the following terms shall bear the meanings assigned to them as below:

    Authentication: Process of validating and confirming the credentials of the customer who is originating the payment instruction.

    Factor of Authentication: Credential of the customer which is used for authentication. The factors of authentication can be from “something the user has”, “something the user knows” or “something the user is” and may comprise, inter-alia, password, SMS based OTP, passphrase, PIN, card hardware, software token, fingerprint, or any other form of biometrics (device native or Aadhaar based).

    6. Principles for authentication of digital payment transactions
    a. Minimum two factors of authentication All digital payment transactions shall be authenticated by at least two distinct factors of authentication as defined in paragraph-5(f), unless exempted. The list of exemptions which are currently in force are listed in Annexure-1.

    Note - Issuers may, at their discretion, offer a choice of authentication factors to their customers in compliance with these directions.

    b. At least one of the factors to be dynamic

    It shall be ensured that for digital payment transactions, other than card present transactions, at least one of the factors of authentication is dynamically created or proven, i.e., the proof of possession of the factor, being sent as part of the transaction, is unique to that transaction.

    c. Robust The factor of authentication shall be such that compromise of one factor does not affect reliability of the other.

    Responsibility of the issuer

    An issuer shall ensure the robustness and integrity of the authentication mechanism before deployment.

    If any loss arises out of transactions effected without complying with these directions, the issuer shall compensate the customer for the loss in full without demur.

    Issuers shall ensure adherence to the provisions of Digital Personal Data Protection Act, 2023.

    Read RBI Circular.

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    Date:September 22,2025.

    The Income Tax Act, 2025 Reshaping Tax Framework-PIB Posted On: 03 SEP 2025

    Excerpts: Income Tax Act, 2025 to be effective from April 1, 2026.

    The Act simplifies language, removes obsolete provisions and consolidates and restructures provisions.

    It Introduces concept of ‘Tax Year’ replacing ‘Assessment Year’ and ‘Previous Year’.

    The Act defines Virtual Digital Assets (VDAs), including cryptocurrencies and tokenized assets.

    Read More

    Read more"Income Tax Act 2025".

    INCOME TAX DAY, 2025-A journey of Digital Transformation July 23, 2025


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    INCOME-TAX ACT, 1961*[43 OF 1961]
    [AS AMENDED BY FINANCE ACT, 2025]

    Read More



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    Date:September17,2025.
    Exposure Draft - Amendments to Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) Regulations, 2015

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    Unified Pension Scheme

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    NPS for All Citizen Model

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    Date:September 16,2025.

    RBI issues the "Reserve Bank of India (Regulation of Payment Aggregators) Directions, 2025"

    Excerpts: The Directions entail, inter-alia, the following:
    • Rationalisation of the definition of various categories of PAs;
    • The authorisation process;
    • The process for carrying out due diligence of merchants by PAs;
    • Permissible operations in escrow accounts;

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      Master Direction on Regulation of Payment Aggregator (PA)

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    Date:August 16,2025.

    Master-Direction-Know-Your-Customer(KYC)Direction-2016-updated-August-14-2025.pdf

    Excerpts:

    Master Direction - Know Your Customer (KYC) Direction, 2016 (Updated as on August 14, 2025)

    Reserve Bank of India (Know Your Customer (KYC)) (2nd Amendment) Directions, 2025
     

    Introduction of Continuous Clearing and Settlement on Realisation in Cheque Truncation System

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    Date:August 14,2025.

    Income tax(No.2) bill 2025 as introduced in lok sabha

    Read More-Income tax(No.2) bill 2025 as introduced in lok sabha

    Mapping of Sections of "Income Tax Act Old" with Sections in "Income Tax Act New".

    Income Tax Act-1961-as-amended-by-Finance-Act-2025

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    Date:August 13,2025.

    RBI guidelines ensure multilingual customer communication and a quicker grievance redressal by banks

    Excerpts:

    Reserve Bank of India (RBI) has, from time to time, emphasised that all customer-facing materials at the branches of Scheduled Commercial Banks must be made available in Hindi, English, and the concerned regional language.

    Further, RBI reiterated that all communications to customers, should invariably be issued in a trilingual format-Hindi, English, and the regional language.

    All Banks have a robust board approved grievance redressal mechanism in place to address complaints.

    Further, the Reserve Bank – Integrated Ombudsman Scheme (RB-IOS), 2021, provides a cost-free platform for redressal of complaints against RBI-regulated entities (REs) in matters relating to deficiency in service,
    if the grievance is not redressed or reply is not given by the RE within the prescribed timeline.

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    Date:August 08 ,2025.

    RBI invites comments on Settlement of claims in respect of deceased depositors – Simplification of Procedure

    Excerpts:

    In pursuance of the announcement made in the Statement on Developmental and Regulatory Policies dated August 06, 2025 regarding the review of extant regulatory guidelines on settlement of claims in respect of deceased depositors, Reserve Bank has released today the draft circular in this regard.

    Comments/ feedback by the stakeholders and members of public on the draft circular may be submitted through the respective link under the ‘Connect 2 Regulate’ Section available on the Reserve Bank’s website or alternatively through e-mail by August 27, 2025. Final circular shall be issued after considering the stakeholder/ public comments.

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    settlement-of-claims-in-respect-of-deceased-customers-rbi-draft-circular.pdf

    Settlement of claims in respect of deceased depositors – Simplification of procedure.pdf

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    Date:August 02,2025.

    Income Tax-Deductions allowed from Income-FY 2025-26

    Excerpts:

    Against 'salaries'

    Standard Deduction

    (a) In case of normal tax regime - Rs. 50,000 or the amount of salary, whichever is lower;

    (b) In case of new tax regime under section 115BAC(1A)(ii) - Up to Rs. 75,000 or the amount of salary, whichever is lower

    Individual – Salaried Employee & Pensioners

    Against 'income from house properties'

    23(1), first proviso Taxes levied by local authority and borne by owner if paid in relevant previous year All assessees

    24(a) Standard deduction [30% of the annual value (gross annual value less municipal taxes)] All assessees

    24(b) Interest on borrowed capital (Rs. 30,000/Rs. 2,00,000, subject to specified conditions) All assessees

    25A(2) Standard deduction of 30 per cent of arrears of rent or unrealised rent received All assessees

    Against 'income from other sources'

    A. Deductible items

    57(i) Deduction from dividend income on account of interest expense, which shall not exceed 20% of the dividend income. All assessees

    57(i) Any reasonable sum paid by way of commission or remuneration for the purpose of realising interest on securities All assessees

    57(ia) Contributions to any provident fund or superannuation fund or any fund set up under Employees' State Insurance Act, 1948 or any other fund for welfare of employees, if the same are credited to employees' accounts in relevant funds before due date All assessees

    57(ii) Repairs, insurance, and depreciation of building, plant and machinery and furniture Assessees engaged in business of letting out of machinery, plant and furniture and buildings on hire

    57(iia)

    In case of family pension, 331/3 per cent of such pension or Rs. 15,000, whichever is less

    Note: the enhanced threshold of Rs. 25,000 shall be applicable if income-tax is computed under section 115BAC(1A)(ii).

    Assessees in receipt of family pension on death of employee being member of assessee's family

    57(iii) Any other expenditure (not being capital expenditure) expended wholly and exclusively for earning such income All assessees

    57(iv) In case of interest received on compensation or on enhanced compensation referred to in section 145A(2), a deduction of 50 per cent of such income (subject to certain conditions)



    Read Income Tax Department Circular

    Some Important Sections

    Note:Only some selected sections are given and for personal use only. Most of the deductions are not allowed under New Tax Regime. All Rules ,Regulations ,Eligibility and Limits are subject to change. Before taking any decisions check up relevant rules or seek advice from tax consultant.

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    Date:July 10,2025.

    Reserve Bank of India (Pre-payment Charges on Loans) Directions, 2025

    Excerpts:

    Regulated Entities (REs) shall adhere to the following Directions regarding levy of pre-payment charges on all floating rate loans and advances:

    (i) For all loans granted for purposes other than business to individuals, with or without co-obligant(s), an RE shall not levy pre-payment charges;

    (ii) For all loans granted for business purpose to individuals and MSEs, with or without co-obligant(s):

    (a) A commercial bank (excluding Small Finance bank, Regional Rural bank and Local Area bank), a Tier 4 Primary (Urban) Co-operative bank, an NBFC-UL, and an All India Financial Institution shall not levy any pre-payment charges.

    (b) A Small Finance bank, a Regional Rural bank, a Tier 3 Primary (Urban) Co-operative bank, State Cooperative bank, Central Cooperative bank and an NBFC-ML shall not levy any pre-payment charges on loans with sanctioned amount/ limit up to ₹50 lakh.

    (iii) The Directions at paragraphs 5(i) and 5(ii) above shall be applicable irrespective of the source of funds used for pre-payment of loans, either in part or in full, and without any minimum lock-in period.

    (iv) Applicability of above Directions for dual/ special rate (combination of fixed and floating rate) loans will depend on whether the loan is on floating rate at the time of pre-payment.

    6. In cases other than those mentioned at paragraphs 5(i) and 5(ii) above, pre-payment charges, if any, shall be as per the approved policy of the RE. However, in case of term loans, pre-payment charges, if levied by the RE, shall be based on the amount being prepaid. In case of cash credit/ overdraft facilities, pre-payment charges on closure of the facility before the due date shall be levied on an amount not exceeding the sanctioned limit.

    7. In case of cash credit/ overdraft facilities, no pre-payment charges shall be applicable if the borrower intimates the RE of his/ her/ its intention not to renew the facility before the period as stipulated in the loan agreement, provided that the facility gets closed on the due date.

    8. An RE shall not levy any charges where pre-payment is effected at the instance of the RE.

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    Date:June 29,2025.

    Aadhaar Enabled Payment System – Due Diligence of AePS Touchpoint Operators

    Excerpts:

    Aadhaar Enabled Payment System (AePS) is a payment system operated by National Payment Corporation of India (NPCI) that facilitates interoperable transactions using Aadhaar enabled authentication. AePS plays a prominent role in enabling financial inclusion.

    It has been decided to issue directions for streamlining the process for onboarding of AePS touchpoint operators and strengthening fraud risk management. Detailed instructions are placed in the Annex.

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    Date:June 13,2025.

    Updation/ Periodic Updation of KYC – Revised Instructions-RBI Notfication dated June 12,2025

    Excerpts:

    The Reserve Bank has observed a large pendency in periodic updation of KYC including in the accounts opened for credit of Direct Benefit Transfer (DBT)/ Electronic Benefit Transfer (EBT) under Government schemes to facilitate credit of DBTs and/ or scholarship amount (DBT/ EBT/ scholarship beneficiaries) and accounts opened under PMJDY.

    The instructions regarding updation/ periodic updation of KYC have been amended with the intent, inter alia, to allow BCs to facilitate in the process of KYC updation

    The banks are advised to organize camps and launch intensive campaigns including special camps, focusing on periodic updation of KYC

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    Inoperative Accounts/ Unclaimed Deposits in Banks - Revised Instructions (Amendment) 2025

    Excerpts:

    The credit balance in any deposit account maintained with banks, which have not been operated upon for ten years or more, or any amount remaining unclaimed for ten years or more are required to be transferred by banks to DEA Fund maintained by the Reserve Bank of India. There is a need to enable Business Correspondents to facilitate updation of KYC.

    In the extant instructions, the paragraph 6.1 is hereby substituted by the following, namely:

    “6.1 A bank shall make available the facility of updation of KYC for activation of inoperative accounts and unclaimed deposits at all branches (including non-home branches).
    Further, a bank shall endeavour to provide the facility of updation of KYC in such accounts and deposits through Video-Customer Identification Process (V-CIP).
    The V-CIP related instructions under Master Direction - Know Your Customer (KYC) Direction, 2016 dated February 25, 2016 (as updated from time to time) shall be adhered to by the bank.
    Additionally, the services of an authorised Business Correspondent of the bank may be utilized for activation of inoperative accounts as prescribed in paragraph 38(a)(iia) of the above Master Direction.”.

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    12Th Bipartite Settlement.

    11Th Bipartite Settlement.

    Joint Note 9-Bank officers' settlement

    Joint Note 8-Bank officers' settlement

    Gratuity Act 1972.

    Gratuity Amendment 2018.

    Brief on Gratuity Amendment 2018

    Banking Regulations Act 1949.

    Bankers Book Evidence Act 1891

    Payment of Wages Act 1936

    prevention of Money Laundering Act 2002.

    Pensions Act.

    Income Tax Bill 2025.

    Finance Bill 2025.

    Income Tax Act 1961
    As amended-by-finance-no.-2-act-2024



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    Date:May 10,2025.

    RBI issues Reserve Bank of India (Digital Lending) Directions, 2025

    Excerpts:
    Consolidated directions on the subject have been prepared and issued as the Reserve Bank of India (Digital Lending) Directions, 2025 today.

    A draft circular on the aforesaid matter was issued on April 26, 2024, for public feedback. Basis the comments received, final instructions on the same are being issued as part of these Directions.

    The instructions require REs to furnish the details of their DLAs through the Centralised Information Management System (CIMS) portal of the RBI. The portal shall be available to the REs for reporting on or before May 13, 2025 and REs shall have time till June 15, 2025 to upload the initial data.

    RBI press release.
    Reserve Bank of India (Digital Lending) Directions, 2025

    Top / Back to Home Page.

    04.05.2025.

    Post Office Small Savings Schemes-
    Scheme details,how to open,minimum amount for opening,interest rates etc

    • PO Savings Account(SB)
    • PO Recurring Deposit Account(RD)
    • PO Time Deposit Account(TD)
    • PO Monthly Income Account(MIS)
    • PO Senior Citizens Savings Scheme Account(SCSS)
    • PO Public Provident Fund Account(PPF )
    • PO Sukanya Samriddhi Account(SSA)
    • PO Savings Certificates (VIIIth Issue) (NSC)
    • PO Kisan Vikas Patra(KVP)
    • PO Mahila Samman Savings Certificate
    • PM CARES for Children Scheme, 2021

      Read more.

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    Date:24.04.2025.

    Migration to '.bank.in' domain-RBI Circular.

    Excerpts:
    • Introduction of exclusive Internet Domain, ‘.bank.in’ for banks to combat the increased instances of fraud in digital payments
    • This initiative is aimed at strengthening the cybersecurity framework and enhancing public confidence in digital banking and payment systems.
    • It has been decided to operationalise the ‘. bank.in’ domain for banks through the Institute for Development and Research in Banking Technology (IDRBT),
    • IDRBT shall guide the banks on various aspects related to application process and migration to new domain.
    • All banks are advised to commence the migration of their existing domains to the ‘.bank.in’ domain and complete the process at the earliest and in any case, not later than October 31, 2025.

      RBI Circular Top/Home
      Date:22.05.2025.

      Opening of and operation in deposit accounts of minors

      Excerpts:
    • Minors of any age may be allowed to open and operate savings and term deposit accounts through his/ her natural or legal guardian.
    • Minors above such an age limit not less than 10 years and up may be allowed to open and operate savings/ term deposit accounts independently subject conditions prescribed.
    • On attaining the age of majority, fresh operating instructions and specimen signature of the account holder shall be obtained and kept on record.
    • The banks are free to offer additional banking facilities like internet banking, ATM/ debit cards, cheque book facility, etc., to the minor account holders subject to prescribed conditions.
    • The banks shall ensure that accounts of minors are not allowed to be overdrawn and that these always remain in credit balance.


       

      Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR)

      Excerpts:
    • As part of post Global Financial Crisis (GFC) reforms, Basel Committee on Banking Supervision (BCBS) had introduced Liquidity Coverage Ratio (LCR), which requires banks to maintain High Quality Liquid Assets (HQLAs) to meet 30 days net outgo under stressed conditions.
    • Further, banks1 are required to maintain LCR of 100 per cent with effect from January 1, 2019. In order to accommodate the burden on banks’ cash flows on account of the Covid19 pandemic, banks are permitted to maintain LCR as under:
    • From date of circular to September 30, 2020 - 80 per cent
    • Oct 1, 2020 to March 31, 2021 - 90 per cent
    • April 1, 2021 onwards - 100 per cent

      Read RBI Circular.

      Read What is SLR, CRR,Bank Rate etc Top/Home

    Date:April 18,2025.
     

    RBI issues draft Directions on the regulatory measures announced in SDRP

    Excerpts:

    Reserve Bank has released the draft Directions on the following subjects for comments.

    Draft Reserve Bank of India (Securitisation of Stressed Assets) Directions, 2025

    Draft Reserve Bank of India (Co-Lending Arrangements) Directions, 2025

    Draft Reserve Bank of India (Lending Against Gold Collateral) Directions, 2025

    Draft Reserve Bank of India (Non-Fund Based Credit Facilities) Directions, 2025

    The comments on the draft Directions are invited from public/stakeholders till May 12, 2025. Comments/feedback may be submitted through the respective links under the ‘Connect 2 Regulate’ Section available on the RBI’s website or may alternatively be forwarded to:

    The Chief General Manager
    Credit Risk Group
    Department of Regulation, Central Office
    Reserve Bank of India, 12/13th Floor,
    Shahid Bhagat Singh Marg,
    Fort Mumbai – 400 001 Or by email

    RBI Press Release: 2025-2026/69
    Top/Home

    Date:April 17,2025.
     

    Master Direction - Deposits and Accounts
    Foreign Currency and other Accounts

    read more.
     

    Master Direction - Risk Management and Inter-Bank Dealings

    read more


    Date:April 10,2025.
     

    Effect of Repo rate on loan EMI-what is your gain or loss due to change in repo rate.

    RBI reduced Repo rate by 25 basis points.The revised Repo Rate is 6.00 %. Normally Banks are expected to change their interest rates on loans. Already some of the banks have reduced the interest rates on loans. Check up with your banks the revised interest rates.Here is a simple calculator to know your Revised EMI , total interest you have to pay during the loan period.

    Click for the Calculator.

    Know more about Repo Rate ,Bank Rate ,CLR,SRR etc


    Date: April 04,2025.
     

    Master Circular - Guarantees and Co-acceptances

    Excerpts:

    As regards the purpose of the guarantee, as a general rule, the banks should confine themselves to the provision of financial guarantees and exercise due caution with regard to performance guarantee business.

    2.1.2 As regards maturity, as a rule, banks should guarantee shorter maturities and leave longer maturities to be guaranteed by other institutions.

    2.1.3 No bank guarantee should normally have a maturity of more than 10 years. However, where banks extend long term loans for periods longer than 10 years for various projects, it has been decided to allow banks to also issue guarantees for periods beyond 10 years. While issuing such guarantees, banks are advised to take into account the impact of very long duration guarantees on their Asset Liability Management. Further, banks may evolve a policy on issuance of guarantees beyond 10 years as considered appropriate with the approval of their Board of Directors.

    2.1.4 Banks should, in general, refrain from issuing non-fund based facilities to/on behalf of constituents who do not enjoy credit facilities with them. However, banks are permitted to grant non-fund based facilities, including partial credit enhancement1, to those customers, who do not avail any fund based facility from any bank in India.

    BG /LC may be issued by scheduled commercial banks to clients of co-operative banks against counter guarantee of the co-operative bank as permitted hitherto.

    Precautions for issuing guarantees

    Banks should adopt the following precautions while issuing guarantees on behalf of their customers.
    • (i) As a rule, banks should avoid giving unsecured guarantees in large amounts and for medium and long-term periods. They should avoid undue concentration of such unsecured guarantee commitments to particular groups of customers and/or trades.
    • (ii) Unsecured guarantees on account of any individual constituent should be limited to a reasonable proportion of the bank’s total unsecured guarantees. Guarantees on behalf of an individual should also bear a reasonable proportion to the constituent’s equity.
    • (iii) In exceptional cases, banks may give deferred payment guarantees on an unsecured basis for modest amounts to first class customers who have entered into deferred payment arrangements in consonance with Government policy.
    • (iv) Guarantees executed on behalf of any individual constituent, or a group of constituents, should be subject to the prescribed exposure norms.
    • (v) It is essential to realise that guarantees contain inherent risks and that it would not be in the bank’s interest or in the public interest, generally, to encourage parties to over-extend their commitments and embark upon enterprises solely relying on the easy availability of guarantee facilities.

      Read RBI Circular.

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    Date: April 04,2025.
     

    Master Circular - Disbursement of Government Pension by Agency Banks

    Excerpts:

    4. The pension paying banks will credit the pension amount in the accounts of the pensioners based on the instructions given by respective Pension Paying Authorities. Refund of excess pension payment to Government

    5. Whenever any excess/overpayment is detected, the entire amount thereof should be credited to the Government account in lump sum immediately, when the excess/overpayment is due to an error on the part of the agency bank. This action is independent of recovery from the pensioner. Agency banks are requested to seek guidance from respective Pension Sanctioning Authorities regarding the process to be followed for recovery of excess pension paid to the pensioners, if any.

    6. If the excess/wrong payment to the pensioner is due to errors committed by the government, banks may take up the matter with the full particulars of the cases with respective Government Department for a quick resolution of the matter. However, this must be a time bound exercise and the government authority’s acknowledgement to this effect must be kept on the bank’s record. The banks may take up such cases with government departments without reference to the Reserve Bank of India. Withdrawal of pension by old/ sick/ disabled/ incapacitated pensioners

    7. In order to take care of problems/ difficulties faced by sick and disabled pensioners in withdrawal of pension / family pension from the banks, agency banks may categorize such pensioners as under: Pensioner who is too ill to sign a cheque / unable to be physically present in the bank. Pensioner who is not only unable to be physically present in the bank but also not even able to put his/her thumb impression on the cheque/ withdrawal form due to certain physical defect /incapacity.

    8. With a view to enabling such old/sick/incapacitated pensioners to operate their accounts, banks may follow the procedure as under: Wherever thumb or toe impression of the old/sick pensioner is obtained, it should be identified by two independent witnesses known to the bank, one of whom should be a responsible bank official. Where the pensioner cannot even put his/her thumb/ toe impression and also would not be able to be physically present in the bank, a mark can be obtained on the cheque/withdrawal form, which should be identified by two independent witnesses, one of whom should be a responsible bank official. The responsible bank official has to be from the same bank, preferably from the same branch, where the pensioner is having his/her pension account.

    9. The pensioner may also be asked to indicate to the bank as to who would withdraw the pension amount from the bank on the basis of cheque/ withdrawal form as obtained above and that person should be identified by two independent witnesses. The person who would be actually drawing the money from the bank should be asked to furnish his signature to the bank. 10. Accordingly, the agency banks are requested to instruct their branches to display the instructions issued in this regard on their notice board so that sick and disabled pensioners could make full use of these facilities. Agency Banks are also advised to strictly implement the instructions issued by RBI regarding the facilities to be provided to the sick and disabled persons and sensitise staff members in the matter and to refer to the FAQs on pension disbursement hosted on our website (www.rbi.org.in) in case of any doubt.

    Life Certificate- Issuance of Acknowledgement 13. There have been complaints that life certificates submitted over the counter of pension paying branches are misplaced causing delay in payment of monthly pensions. In order to alleviate the hardships faced by pensioners, agency banks were instructed to mandatorily issue duly signed acknowledgements. They were also advised to consider entering the receipt of life certificates in their CBS and issue a system generated acknowledgement which would serve the twin purpose of acknowledgement as well as real time updation of records. Banks may provide digital acknowledgments in respect of digital life certificates submitted by the pensioners.

    Pension paying banks should compensate the pensioner for delay in crediting pension/ arrears thereof at a fixed interest rate of 8 per cent per annum for the delay.

    When the agency bank is calculating pension, the branch should continue to be a point of referral for the pensioner lest he/she feels disenfranchised.

    All branches having pension accounts should guide and assist the pensioners in all their dealings with the bank.

    Suitable arrangements should be made to place the arithmetic and other details about pension calculations on the web, to be made available to the pensioners through the net or at the branches at periodic intervals, as may be deemed necessary and sufficient advertisement is made about such arrangements.

    Read more.

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    Date: April 02,2025.
     

    Reserve Bank of India (Interest Rate on Deposits) Directions, 2025.

    Excerpts:

    5.1 There shall be a comprehensive policy on interest rates on deposits duly approved by the Board of Directors or any committee of the Board to which powers have been delegated.

    5.2 The rates shall be uniform across all branches and for all customers and there shall be no discrimination in the matter of interest paid on the deposits, between one deposit and another of similar amount, accepted on the same date, at any of its offices.

    5.3 Interest rates payable on deposits shall be strictly as per the schedule of interest rates disclosed in advance.

    5.4 The commercial banks shall maintain the bulk deposit interest rate card in their Core Banking System to facilitate supervisory review.

    5.5 The rates shall not be subject to negotiation between the depositors and the bank.

    5.6 The interest rates offered shall be reasonable, consistent, transparent, and available for supervisory review/ scrutiny as and when required.

    5.7 All transactions, involving payment of interest on deposits shall be rounded off to the nearest rupee for rupee deposits and to two decimal places for FCNR(B) deposits.

    5.8 Deposits maturing on non-business working day for commercial banks.

    5.8.1 If a term deposit is maturing for payment on a non-business working day, banks shall pay interest at the originally contracted rate on the original principal deposit amount for the non-business working day, intervening between the date of the maturity of the specified term of the deposit and the date of payment of the proceeds of the deposit on the succeeding working day.

    5.8.2 In case of reinvestment deposits and recurring deposits, banks shall pay interest for the intervening non-business working day on the maturity value.

    5.9 Deposits maturing on a Sunday/ holiday/ non-business working day for cooperative banks.

    5.9.1 If a term deposit is maturing for payment on a Sunday/ holiday/ non-business working day, co-operative banks shall pay interest at the originally contracted rate on the original principal deposit amount for the Sunday/ holiday/ non-business working day, intervening between the date of the maturity of the specified term of the deposit and the date of payment of the proceeds of the deposit on the succeeding working day.

    7. Interest Rate on Domestic Savings Deposit In addition to the conditions laid down in paragraph 5 of these Directions, interest on domestic rupee savings deposit shall be subject to the following:

    7.1 Interest on domestic rupee savings deposits shall be calculated on a daily product basis as under:

    7.1.1 A uniform interest rate shall be set on balance up to Rupees one lakh, irrespective of the amount in the account within this limit.

    7.1.2 Differential rates of interest may be provided for any end-of-day savings bank balance exceeding Rupees one lakh.

    8. Interest Rates on Domestic Term Deposits 8.1 In addition to the conditions laid down in paragraphs 5 of these Directions, interest rates on term deposits shall vary only on account of one or more of the following reasons:

    8.1.1 Tenor of deposits Banks shall have the freedom to determine the maturity/ tenor of the deposit subject to the condition that minimum tenor of the deposit offered shall be seven days.

    8.1.2 Size of deposits Differential interest rate shall be offered only on bulk deposits. Provided that differential interest shall not be applicable on deposit schemes framed on the basis of the Bank Term Deposit Scheme, 2006. 11 Provided also that differential interest shall not be applicable on deposits received under the Capital Gains Accounts Scheme, 1988 by commercial banks.

    8.2 Payment of interest on pre-mature withdrawal: The interest rates applicable on term deposits withdrawn before the maturity date shall be as under:

    8.2.1 Interest shall be paid at the rate applicable to the amount and period for which the deposit remained with the bank and not at the contracted rate.

    8.2.2 No interest shall be paid, where premature withdrawal of deposits takes place before completion of the minimum period specified in paragraph 8.1.1.

    9. Payment of Additional Interest on Domestic Deposits 9.1 Banks shall, at their discretion, allow additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of bank’s staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director, or such other Executives appointed for a fixed tenure and Managing Director who acts as Chief Executive of Co-operative Bank drawing regular salary from the Co-operative Bank,

    10. Interest on Overdue Domestic Deposits 10.1 The rate of interest to be paid on renewal of overdue term deposits shall be subject to the stipulation contained in the paragraph 5 of these Directions.

    10.2 If a Term Deposit (TD) matures and proceeds are unpaid, the amount left unclaimed with the bank, shall attract rate of interest as applicable to savings account or the contracted rate of interest on the matured TD, whichever is lower.

    15.1 There shall be a comprehensive policy on penalties for premature withdrawal of term deposits approved by the Board of Directors or any committee of the Board to which powers have been delegated.

    15.2 The components of penalty shall be clearly brought to the notice of the depositors at the time of acceptance of deposits. If not, no penalty shall be levied.

    Read here RBI Master Directions.

    Top / Back to Home Page.

    Date March 31,2025.

    Inoperative Accounts /Unclaimed Deposits in Banks- Revised Instructions



    Excerpts from RBI Circular dated January 01,2024.

    A review was carried out in consultation with all stakeholders. Based on the review, it has been decided to issue comprehensive guidelines on the measures to be put in place by the banks covering various aspects of classifying accounts and deposits as inoperative accounts and unclaimed deposits, as the case may be,

    The revised instructions shall come into effect from April 1, 2024.

    Definitions:
     
    • i. Bank induced transaction- Transactions in the account initiated by the bank as per its extant policy such as charges, fees, interest payments, penalties, taxes (an illustrative list is given in Annex I).
       
    • ii. Customer induced transaction- The transactions in account which are in the nature of:

      a.A financial transaction initiated by or done at the behest of the account holder by the bank/ third party (an illustrative list is given in Annex I) or;

      b.A non-financial transaction, or;

      c.KYC updation done in face-to-face physical mode or through digital channels such as internet banking or mobile banking application of the bank.
    • iii. Financial transaction- A monetary transaction in the savings/ current account of the customer with the bank either by way of a credit or debit transaction.
    • iv. Inoperative Account- A savings/ current account shall be treated as inoperative, if there are no ‘customer induced transactions’ in the account for a period of over two years.
    • v. Non-financial transaction- An enquiry or request for any product/ service initiated by the account holder through any ATM or internet banking or mobile banking application of the bank or through Third Party Application Providers, which requires two-factor authentication (2FA) and leaves a trail for audit purposes or successful log-in to the internet banking/ mobile banking application. Illustratively, this includes transactions such as change in transaction limit, request for issue of cheque book/ credit card/ debit card, nomination facility, balance enquiry, etc.
    • vi. Unclaimed Deposits- The credit balance in any deposit account maintained with banks, which have not been operated upon for ten years or more, or any amount remaining unclaimed for ten years or more as mentioned in paragraph 3(iii) of the “Depositor Education and Awareness” (DEA) Fund Scheme, 2014.
    • vii. Unclaimed Deposit Reference Number (UDRN)- It is a unique number generated through Core Banking Solution (CBS) and assigned to each unclaimed account/ deposit transferred to DEA Fund of RBI. The number shall be such that the account holder or the bank branch where account is maintained, cannot be identified by any third party.

      Banks shall undertake atleast an annual review in respect of accounts, where there is no customer induced transactions for more than a year

      For the purpose of classifying an account as ‘inoperative’, only customer induced transactions and not bank induced transactions shall be considered.

      There may be instances where the customer has given a mandate like Standing Instructions (SI)/ auto-renewal instructions and there are no other operations in the Savings /Current account or the Term Deposit. These transactions shall also be treated as customer induced transactions.

      Treatment of accounts opened for credit of scholarship amount and credit of Direct Benefit Transfer under Government Schemes

      The banks open zero balance accounts for beneficiaries of Central/State government schemes and for students who receive scholarship. Central and State governments have been expressing difficulty in crediting cheques/Direct Benefit Transfer/ Electronic Benefit Transfer/ scholarship amount in these accounts as they are also classified as inoperative due to non-operation for two years. The banks shall, based on the purpose of opening of the account, segregate the aforementioned accounts in their CBS, so that the stipulation of ‘inoperative’ account is not applicable to these accounts due to their non-operation for a period of more than two years.

      Activation of Inoperative Accounts The banks shall make available the facility of updation of KYC for activation of inoperative accounts/ unclaimed deposits at all branches (including non-home branches) and through Video-Customer Identification Process (V-CIP) if requested by the account holder, subject to the facility of V-CIP being provided by the bank.

      1.List of Financial Transactions
    • ATM/ Cash withdrawal/deposit
    • RTGS / NEFT/ IMPS /UPI/ AePS/ ABPS Transactions
    • Internet Banking Transactions
    • Debit Card Transactions
    • Transfer of funds from / to the linked CBDC(e-Rupee) account
    • Cheque Clearing
    • Remittance of funds by way of demand drafts
    • Cash withdrawal by third party through cheque
    • Standing Instructions issued by the customer
    • NACH Debit / Credits
    • Term Deposit Interest / proceeds
    • Dividend on shares/Interest on Debentures or any other investment proceeds
    • Direct Benefit Transfer (DBT) credits
    • Refunds like refunds related to e-commerce payments, Income Tax Returns, etc.
    • National Electronic Toll Collection (NETC) debits

      2.List of Bank Induced Transactions
    • All types of charges levied by banks including taxes deducted
    • Savings Bank account interests

      Inoperative Accounts /Unclaimed Deposits in Banks- Revised Instructions -January 2024

      Inoperative Accounts / Unclaimed Deposits in banks December 2024

      Master Direction - Know Your Customer (KYC) Direction, 2016
      Updated November 2024.

      UDGAM -Unclaimed Deposits-Gateway to Access inforMation

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