Business

RBI gave major instructions regarding the method of interest recovery by banks, these orders will be implemented with immediate effect

RBI: Expressing concern over unfair practices adopted by some banks and financial institutions in charging interest, the Reserve Bank of India (RIB) directed them to take corrective steps and refund the excess charges. The guidelines issued on Fair Practices Code for Financial Institutions (REs) under the ambit of RBI advocate …

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Good News! Salary of central employees will increase again, know who will get the benefit?

The central government has given great news for its employees. Now the limit of higher allowances and hostel subsidy for children's education has been increased for Central Government employees. Recently the Central Government has also increased the dearness allowance. After this, before the announcement of elections, many state governments also …

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Buying property on installments in Dubai tantamount to inviting violation of FEMA provisions

Since interest is charged by builders in case of installment purchase, it is considered as a financing arrangement. Foreign exchange liability arising from installments disbursed in a particular year requires prior approval of RBI. The trend of Indians buying property in Dubai is increasing, Indians have overtaken British citizens to …

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