Recent Posts

Sunday, June 28, 2020

June 28, 2020

MSME Classification: Then and Now (w.e.f. 01.07.2020)

During the time of COVID-19 Pandemic, Ministry of Finance, Government of India has announced various relief measures on 13th May 2020 to overcome the impact of Corona on Indian Economy. One of the important measure was to change the classification and definition of MSME. Now both service sector and manufacturing sector has been clubbed and a composite criteria has been released. This new criteria will come to effect from 1st July 2020.
June 28, 2020


What is REPO Based Lending Rate?

Repo Based Lending Rate (RBLR) or Repo Linked Lending Rate (RLLR) or External Benchmark Based Lending Rate (EBLR) is an new floating interest rate regime which is directly linked to Repo Rate.  It was mandated by RBI w.e.f. 01st October 2019. All the banks have shifted their Retail as well as MSME loan to this new regime and new loan are being sanctioned which carry interest rate directly linked to Repo rate.

Saturday, June 27, 2020

June 27, 2020


What is UPI?

Unified Payment Interface is a remittance product developed by National Payment Corporation of India (NPCI) and launched in August 2016 by Mr. Rajan (Ex. RBI Governor). It is basically a mobile application supported system which provides remittance/fund transfer facility and some other banking activities 24X7 for 365 days a year.

Wednesday, June 10, 2020

June 10, 2020

PPF (Public Provident Fund) ,1968

Public Provident Fund (PPF) account is very popular investment and income tax saving tool for Middle Class. PPF account provides safety of principal as well as good interest. PPF is a most simple and effective investment and tax saving tool and can be understand by the following points:

Tuesday, June 9, 2020

June 09, 2020

Pradhan Mantri Vaya Vandana Yojana (PMVVY) - Revised (w.e.f. 20.05.2020)


Pradhanmantri Vaya Vandana Yojana (PMVVY) is a pure pension scheme for senior citizen aged 60 years and above.  This scheme was initially announced in budget for 2017-2018 by Government of India. This scheme was rolled out through LIC of India on 04th May 2017 to 03rd May 2018 but the scheme was further extended till 31.03.2020 in Union Budget for 2018-2019. Earlier till 31st March 2020, this scheme used to offer 8% annual return. Now this scheme has been extended till 31st March 2023 but with reduced interest at 7.4% p.a.

Saturday, June 6, 2020

June 06, 2020

IBPS Declared Tentative Schedule of CRP for 2020-21

Tentative schedule of IBPS common recruitment exams for recruitment of Officers in RRBs and PSBs has been declared by IBPS. Receuitment examination for RRBs will tentatively be held in the month on August 2020 and recruitment examination for PSBs will tentatively be held in the month of October 2020. In this regard notification of IBPS is provided for our readers for their ready reference.