the terms are in place to be executed automatically. ECS is an automatic mode of payment where your EMI is debited from your account balance at a pre-set date of every month. Post-dated cheques, like ECS ensure that you are ahead of your payment cycle and there is no defaulting on ...
3. Account Specifications: Certain accounts may have specific features or are part of special savings schemes that affect how AMC charges are processed. This might include accounts with minimum balance exemptions or those categorized under particular schemes, which can sometimes result in the AMC char...
Additionally, RBI has mandated that banks examine term deposit accounts every year in cases where there is no clear renewal mandate and the money hasn't been taken out after the account matures. The RBI has prohibited banks from charging interest for failing to maintain the minimum balance in ...
Key Benefits for SBI FD Rates A Fixed Deposit (FD) is one of the most popular financial instruments among the general saving public in India as it provides a higher rate of interest than a regular savings account. Fixed Deposit (FD) is the safest of investments that give high returns after...
Limestone production increased from 114 MMT in FY 2023–24 (April-June) to 116 MMT in FY 2024–25 (April-June). The production of manganese ore has increased by 11% to 1.0 MMT in FY 2024–25 (April-June). Iron ore and limestone account for about 80% of the total MCDR mineral produ...
Minimum balance need not to be maintained in the accounts opened underPradhan Mantri Jan Dhan Yojnaand for Basic Savings Bank Deposit Account. For these accounts, no limit is fixed on number and value of deposits that can be made in a month. ...
As per ERD’s analysis, MSME loan account worth ₹2.2 lakh crore improved since launch ofEmergency Credit Line Guarantee Scheme(ECLGS) for the entire banking industry. Nearly 12% of the outstanding MSME credit has been saved from slipping into NPA (non-performing asset) because of the ECLGS...
PM Jan Dhan Yojana is a National mission for Financial inclusion. It was announced on 15 August 2014. Under the scheme, one basic savings bank account is opened for unbanked person for which he/she does not have to maintain any minimum balance. Accident Insurance Cover is also provided to ...