Common Written Exam (CWE) for Bank PO
UPDATE: Common Written Exam (CWE) for Bank Clerical Cadre The Institute of Banking Personnel Selection (IBPS) will organise the common written exam (CWE) for recruitment of Probationary Officers / Management Trainees posts in the Public Sector Banks (19 participating banks). Important Dates: Start date for Online Registration - Payment of Application Fees - to (both dates inclusive) Last date for Online Registration - Last date for Editing Application Details - Download of Call letter for Written Examination - After Written…
What is CSGL Account?
CSGL accounts are a demat form of holding government securities with the RBI, just as an investor can hold shares in demat form with a depository participant. Government Securities are largely issued as Stocks and held in demat form to the credit of the holder in the Subsidiary General Ledger account (SGL) maintained in the books of RBI. When these securities are held by the investor through an agent like PD or Bank the agent holds another SGL account with…
GSecs for Retail Investors
Retailing the G-Secs means taking the G-Secs market to retail investors. Today, the G-Secs market in the country is predominantly inhabited by wholesale players like Banks, Financial Institutions, Primary Dealers, FIIs, Mutual Funds, Insurance Companies, Brokers, Pension Funds, etc. For vibrant G-Secs market, it is necessary to attract retail investors so that they can participate in the market that will bring them a reasonable return with no credit risk. Recently, with the introduction of Government Securities Act, 2006 and the Government…
Certificate of Deposit in India
CDs are negotiable money market instrument issued in demat form or as a Usance Promissory Notes. CDs issued by banks should not have the maturity less than seven days and not more than one year. Financial Institutions are allowed to issue CDs for a period between 1 year and up to 3 years. CDs are like bank term deposits but unlike traditional time deposits these are freely negotiable and are often referred to as Negotiable Certificates of Deposit. CDs normally…
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…