State Small Savings Scheme announced by West Bengal Govt
  State Small Savings Scheme announced by  West Bengal Govt     West Bengal Chief Minister Mamata Banerjee today announed introduction of a state-sponsored small savings scheme to be operational from October 5. Announcing the broad contours of the "safe savings scheme" at the state secretariat, the chief minister said that the state government had kept its promise of launching a financial security scheme to protect the interest of small investors made after the Saradha chit fund s...
RBI Deregulated Interest Rates offered to NRIs
  RBI Deregulated Interest Rates offered to NRIs With an aim to boost forex inflows, RBI deregulated the interest rate offered by banks to non-resident Indians (NRIs). Till now, banks were not allowed to pay higher rates for non-resident (external) rupee (NRE) deposits than those for the resident ones. “Banks are free to offer interest rates without any ceiling on NRE deposits with maturities of three years and above,” RBI said, adding banks would not have to maintain cash reserve ratio (CRR) or s...
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