Primary Dealers for Government Securities in India
The system of Primary Dealers (PDs) in the Government Securities Market was introduced by Reserve Bank of India in 1995 to strengthen the market infrastructure of Government Securities and put in place an improved, efficient secondary market trading system. This was to encourage holding of Government Securities on large scale and make the market more vibrant and liquid. In 2006-07, RBI gave Banks the option to undertake Primary Dealership business departmentally. DFHI was set up by RBI along with public…
G-Secs Auctions by RBI
G-Secs are issued by the Reserve Bank of India on behalf of the Government of India. These form a part of the borrowing program approved by the parliament in the ‘union budget’. G-Secs are normally issued in dematerialized form (SGL) but can be issued in the physical form (in the form of Stock Certificate) on request. When issued in physical form or otherwise, they are issued in the multiples of Rs. 10,000/-. Dated Government Securities (along with SDLs) are Securities…
Post Office Monthly Income Scheme (POMIS)
The Post Office Monthly Income Scheme (PO MIS) is a small investment and savings scheme. Main Features/ Rules - This scheme provides a regular monthly income to the depositors and has a term of 6 years. Minimum amount of investment is , and maximum amount in case of single account is ,50,000/-, and in case of joint account is ,00,000/-. Interest rate is 8% payable monthly with a bonus of 5% payable on maturity. Nomination facility is available. Rebate under…
Senior Citizen Savings Scheme
Senior Citizen Savings Scheme is an investment instrument directed towards Senior Citizens. Eligibility is 60 years of age or above, on the date of opening the account. Proof of age and a photograph of account holder are required. The age limit is reduced to 55 years in case of an individual retiring on superannuation or otherwise, or under VRS or special VRS, provided the account is opened within one month of date of receipt of retirement benefits. The retired personnel…
National Savings Certificate (NSC)
National Savings Certificate, also popularly known as NSC is a tax saving investment instrument with a maturity of 6 years. Features and Details - Minimum investment Rs. 500/- No maximum limit. Rate of interest 8% compounded half yearly. Rs. 1000/- grow to Rs. 1601/- in six years. Two adults, Individuals, and minor through guardian can purchase. Companies, Trusts, Societies and any other Institutions not eligible to purchase. Non-resident Indian/HUF can not purchase. No pre-mature encashment. Annual interest earned is deemed…
Kisan Vikas Patra
Kisan Vikas Patra, also popularly known as KVP is one of a very good investment scheme with high interest rates. KVP has the following main features - Money doubles in 8 years and 7 months. Rate of interest compounded annually. Minimum Investment Rs. 500/- No maximum limit. Two adults, Individuals and minor through guardian can purchase. Companies, Trusts, Societies and any other Institution not eligible to purchase. Non-Resident Indian/HUF are not eligible to purchase. Facility of encashment from 2 ½…
List of ASBA Banks
SEBI has introduced a supplementary process for applying in IPOs (Initial Public Offerings) through ASBA (Applications Supported by Blocked Amount) process which is now mandatory process for Non-Retail applications. If you are looking on how to apply for IPO using ASBA then you can visit here for step wise application process. Meaning of ASBA: ASBA is an application for subscribing to an issue, containing an authorisation to block the application money in a bank account. Self Certified Syndicate Bank (SCSB):…
MICR Code for Corporation Bank
Search the MICR Codes of all the branches of Corporation Bank here - MICR Code Corporation Bank MICR Code Corporation Bank Mumbai MICR Code Corporation Bank New Delhi MICR Code Corporation Bank Hyderabad MICR Code Corporation Bank Bangalore MICR Code Corporation Bank Chennai MICR Code Corporation Bank Kanpur MICR Code Corporation Bank Lucknow MICR Code Corporation Bank Allahabad MICR Code Corporation Bank Noida MICR Code Corporation Bank Pune MICR Code Corporation Bank Ghaziabad MICR Code Corporation Bank Kochi MICR Code…
Union Bank IFSC Code
Search the IFSC Codes of all the branches of UBI Bank (Union Bank of India) here - IFSC Code - Union Bank of India IFSC Code UBI Bank Mumbai IFSC Code UBI Bank New Delhi IFSC Code UBI Bank Hyderabad IFSC Code UBI Bank Bangalore IFSC Code UBI Bank Chennai IFSC Code UBI Bank Kanpur IFSC Code UBI Bank Lucknow IFSC Code UBI Bank Allahabad IFSC Code UBI Bank Noida IFSC Code UBI Bank Pune IFSC Code UBI Bank Ghaziabad…
Online Practice Test for Bank PO Exam
launches the online practice test questions for preparation of Bank PO Exam. Practice as much as you can and improve your speed and accuracy. Attempt the Bank PO Online Test here Also, please leave here your valuable comments to improve the system.