Balance Enquiry Mini Statement Missed Calls Banking Number for All Banks

In This post, we are going to share the balance enquiry, mini statement toll-free numbers of all nationalised banks. The missed call banking service generally requires one-time activation from your number. To get the service activated your number should be linked to your account in bank records. In case not just go online or visit your branch and update your number. However, some banks do not require any activation.

As of now, most banks provide two services – balance enquiry and mini statement though Missed Call.

Continue reading “Balance Enquiry Mini Statement Missed Calls Banking Number for All Banks”

How Do Bank Works Know about CRR SLR REPO RATE

In this Post, i am going to share how  do Bank works actually.  After going through this post one Can really understand about CRR, SLR, REPO RATE, REVERSE REPO RATE

Son: I have heard recently that Mr Urjit Patel has reduced Repo Rate by 50 basis points and everyone is saying that this is good for the market. Loan EMI may also come down. What is this rate cut means actually? I want to understand this.
Dad: To understand this you first need to know, how does a bank function. How Do Bank Works.
Son: Why?
Dad: Because all these are inter-related. Tell me – what does a bank do?
Son: Bank takes money from depositors and gives the loan to earn interest. That way they keep everyone happy and make a profit also.
Dad: Correct, but there are more to it. Let me explain this in a very simplistic way. The bank needs money. Bank can get money from depositors like you and me and also from RBI. But the bank also needs to pay certain interest to us and also to RBI.
Son: Ok.
Dad: Let us try to understand first – what happens when we deposit, say, Rs. 100 with a bank.
Son: I know that. Bank gives that Rs. 100 to someone who needs a loan.
Dad: No, it is not that simple. Remember, though the bank can earn interest by giving away loans, but it is also very risky. There are many cases of loan defaults. This way banks can put all our money into high-risk areas. It has to be protected.
Son: How?
Dad: Ok, RBI has made it mandatory that upon receiving, say, Rs. 100 – banks first have to deposit Rs. 4 with RBI. RBI keeps this Rs. 4 in its current a/c and hence banks do not receive any interest on this money. This is known as Cash Reserve Ratio or CRR, which is currently at 4%.
Son: Hmmm, then? Continue reading “How Do Bank Works Know about CRR SLR REPO RATE”

Bank Wage Revision Latest News 2017

In this Post, we are updating all the latest development regarding bank wage revision 2017. 11th bipartite settlement latest news
11th bipartite settlement expected pay scales.

BROAD SUMMARY FO CHARTER OF DEMANDS FOR 11TH BIPARTITE SETTLEMENT.

Download and Read CD 2017 final Bank Wage Revision 2017 Latest News Update  

1. Revision and improvement in Pay Scales by the merger of Dearness Allowance up to October 2017 and with additional loading thereon.
2. Merging Special Allowance with Basic pay
3. Improvements in Special Pay, PQP, FPP and Stagnation Increment
4. Revised DA formula and improvement in compensation against price rise.
5. Provision of housing accommodation for all clerical and sub-staff and payment of HRA on the lines of officers.
6. Introduction of Education Allowance
7. Substantial increase in Transport Allowance
8. Improvements in leave benefits and LFC entitlement
9. Increase in Annual Medical allowance and improvement in Medical Insurance Scheme.
10. Bonus for all employees without any ceiling
11. Removal of ceiling Gratuity under the Gratuity Act.
12. Total exemption from Income tax on entire retirement benefits
13. DA linked Assured pension scheme in lieu of NPS
14. Improvement in pension scheme on the lines of Government scheme
15. Follow-up of the issues covered by Record Note dated 25-5-2015
16. Introduction of 5 Day banking service
17. Improvement in Special Area Allowance and special compensatory provisions for North East and Jammu
18. Regular banking jobs and services not to be outsourced and all existing contract employees to be regularized and absorbed
19. Adequate recruitment of clerical and sub staff in all Banks
20. Implementation of Supreme Court order on equal wage for equal work for existing temporary and contract employees.
21. Proper implementation of compassionate ground appointment scheme
22. All part-time employees to be converted as full-time employees
23. Improvement in Other Allowances and other service conditions
24. Special provisions for women employees on the lines of 7th Pay Commission recommendations.
25. Uniform guidelines on fitment for Ex-servicemen joining the Banks

 

Allowance
EXISTING
REVISED
D. A.
0.10% per slab on the pre-revised basic pay
0.07% per slab on the revised basic pay
H.R.A.
7%/ 8%/ 9% of the present basic pay depending on the population group
7% to 12% of the revised basic pay depending on the revised classification of the centres   (please see attachment for further details), without any ceiling
C.C.A.
3% for lower CCA centres and 4% for higher CCA centres with a maximum of Rs.600 and Rs.870 respectively.
5%  to 8% of the revised basic pay depending on the revised classification of the centres  (please see attachment for further details), without any ceiling
PQP – 1
Rs.670
Equal to one increment in the last stage of the scale
PQP – 2
Rs.1,680
Equal to 2 increments in the last stage of the scale
FPP
In case of FPP, the current FPP is protected and on promotion to the next higher grade/scale only, on reaching the maximum of the scale, FPP equivalent to the last increment in the scale is granted with DA thereon, basing on the index prevailing at the beginning of the settlement period (01-11-2012).
This will remain frozen till the settlement period ends.
FPP is proposed to be fixed at the amount equal to the previous increment drawn plus DA thereon, basing on the index prevailing at the beginning of the settlement period (01-11-2012). This way, the anomaly in FPP will vanish.
On reaching the maximum of the scale, FPP equal to one increment in the last stage of the revised scale plus DA (as on 01-11-2012) thereon is granted.  This will remain frozen till the settlement period ends.
Medical Aid
Up to MMGS III –          Rs.8,000
SMGS IV and above – Rs.9,050
Up to MMGS III          – Rs.12,000
SMGS IV and above – Rs.15,000
LFC – Home Town
Frequency – Once in the sub-block of 2 years, in the main block of every 4 years.  Effectively, it is once every 4 years only.  Distance – There is no restriction on the distance between the present place of work and the hometown.
If the distance between the place of work and the hometown is 500 KMs and above, hometown LFC is permitted every year.
Otherwise, no hometown LFC is allowed.
LFC –Anywhere in India
Distance – Without restriction on the distance, any place in India can be reached by the shortest route and eligible mode of travel. But, the place of destination must be mentioned beforehand and such place must be touched, even if a roundabout journey is undertaken.(Reimbursement will however be restricted to the distance by the shortest railway route by the eligible class).
4500 KMs one way for officers up to MMGS III and 6000 KMs one way for SMGS IV and above(It is not compulsory to touch the intended destination). 
 
Circuitous journey is also allowed within the overall distance (both ways) of 9000 KMs/12000 KMs as the case may be. Within the overall eligibility, expenditure on travel to foreign countries may also be reimbursed, provided proper proof is submitted.
Halting Allowance
Up to MMGS III –
Rs.800/Rs.950/Rs.1,100/Rs.1,300
SMGS IV & SMGS V –
Rs.950/Rs.1,100/Rs.1,300/Rs.1,500
TEGS VI & TEGS VII –
Rs.950/Rs.1,100/Rs.1,300/Rs.1,800
Up to MMGS III –
Rs.1,000/Rs.1,200/Rs.1,400/Rs.1,600
SMGS IV & SMGS V –
Rs.1,200/Rs.1,400/Rs.1,600/Rs.1,800
TEGS VI & TEGS VII –
Rs.1,200/Rs.1,400/Rs.1,600/Rs.2,000
Split Duty Allowance
Rs.200 per month
Rs.400 per month.

ALL INDIA BANK EMPLOYEES’ ASSOCIATION ( AIBEA), NATIONAL CONFEDERATION OF BANK EMPLOYEES (NCBE), BANK EMPLOYEES FEDERATION OF INDIA (BEFI), INDIAN NATIONAL BANK EMPLOYEES FEDRATON (INBEF), NATIONAL ORGANISATION OF BANK WORKERS (NOBW)

To
Chairman,
Indian Banks’ Association
Mumbai
Dear Sir,
You are aware that the period of the current 10th Bipartite Settlement would come to end by October 2017 and a revised Settlement needs to arrive at w.e.f. 1-11-2017. We learn that the Government has given their guidelines to IBA and Banks to complete the process of negotiations well in time to commence the new Settlement from November 2017.
We welcome this but this would be possible only if the negotiations are commenced by IBA well in time. In view of this, we submit herein the broad summary of the common demands to be negotiated and to arrive at the 11th Bipartite Settlement. (Annexure I)
The full details of all these demands would be submitted shortly and well before the negotiations would begin.
We request the IBA to immediately start the process of negotiations so that we shall be able to complete the process and conclude the Settlement in advance.

UPI and *99# USSD Based Banking Service Combined New Interface

Note that UPI technology is still undergoing several changes, so what is written below may require changes over the next few weeks. I have written about what has worked for me so far. Please chip in with your experiences. Know more about upi and *99# ussd  based banking service in this post.

What is UPI?

UPI stands for the “Unified Payments Interface“. It provides access to several banking services, such as account queries, money remittances and merchant payments through a single interface (such as a mobile phone). Payments happen using the Immediate Payment Services (IMPS) interface for 24 by 7 instant payments. It works with bank accounts of UPI enabled banks.

How do I use UPI?

If you have a smartphone with internet access, my recommendation would be to download an appropriate UPI app and follow the instructions there. NPCI’s BHIM app also works for this. If you don’t have access to a smartphone or data, you can follow the steps below to still use UPI for making and receiving payments.

Registering for UPI using *99#

You can register bank accounts for which you have the mobile number linked. At one time, you can link one account, though you can change the account using the profile option, as you can discover.

Dial *99#.


Select your preferred language. For example, for English, dial 1 and send.
Type in the first three letters of your bank name or short code.
If you have multiple accounts, choose the one you wish to use as the default UPI interface.
You should receive the message “Congrats. You can now receive money to your mobile number”.
Receiving money:

You can give payers just your phone number and the money will go to your bank account using IMPS. If they are using an old style UPI application, then you can ask them to use the virtual payment address “mobilenumber@upi”. For example, if the mobile number is 1234567890, the VPA is “1234567890@upi”. You can also create a new payment address using a UPI app or using the “Manage Profile” menu option in *99#.

Setting MPIN for allowing sending money

Note: If you have already set an MPIN using a UPI app for this account, you can skip this step. In addition, if you are comfortable using a UPI app on your smartphone, you don’t need this.

Assuming that you have a valid debit card linked to your account:

Dial *99#
Choose the “UPI PIN” option (number 7 as of writing this).
Enter the last six digits of the debit card number followed by the expiry. For example, if the last six digits of your card number are 123456 and it expires in June 2017, you should enter “123456 0617”.
Follow the instructions and set a new MPIN.
Sending money

Using *99#:

Dial *99# then 1 for “Send money” and choose from the multitude of options, including:

Mobile number (assuming the recipient has completed the above registration step)

Payment address: any UPI address, such as sbiusername@sbi.

Saved beneficiary: you can add beneficiary by using the “Manage Profile” option. An option is also given to add the beneficiary if you send money to him/her once.

IFSC code and account number.

MMID and mobile number.

From an app:

If the recipient gives you a UPI VPA, just enter that and send money.
If they have UPI registered as per “Registering for UPI using *99#” then send money using VPA <mobilenumber>@upi.
If they have don’t have UPI registered but have MMID, send money using 91<10digit mobile number>@<MMID>.mmid.ncpi using any UPI app (if that is what you want).
Or, just use the IFSC + account number pair.
How much does this cost and what are the limits?

A: Currently, IMPS costs Rs. 5 plus service tax per transaction. However, vide this RBI circular, charges for all transactions for amounts upto Rs. 1000 have been waived till March 31st, 2017. The limits on the transactions through each mode are given here.

Every usage of *99# also incurs a charge, but is free as of writing this. TRAI has capped the rate at Rs. 1.50 per session.

If you have any further questions, feel free to Comment them below. Since this is still developing, things may be changing, so I’ll try to keep Updating of them.

Download BHIM App For Android By Narendra Modi

BHIM Bharat Interface For Money as first question come in our mind what is Bharat interface For Money. It is new UPI Payment gateway launched by PM Shri Narendra Modi and best thing about BHIM APP is that it works without internet.

How to Downlaod BHIM App on android.

Download BHIM App directly from play store . BHIM app has been developed by national payment corporation of india and its fully based on UPI platform.

How to Use BHIM App and its review fatures.

Bharat Interface for money

BHIM App has been launched by National Payment Corporation of INDIA and like upi it also works on the platform of imps only means you can transfer funds from one account to another account be it be the another bank account instantly. means within a second you can transfer the funds bu using BHIM App.

As it works on the platform of upi means fund transfer is possible 24*7 , and there is no upper limit has been fixed by NPCI. which is one of the most unique feature of this app. Presently all the available upi apps have the upper limit fixed and you can also generate the qr code for receiving and sending the funds.

As the app supports upi payments gateway its really fast. As there is no charges for using bharat interface for money presently and it has been launched by npci so there are chances that it will be free for life time. BHIM    App compitable with every mobile os. Customer can also set mpin for upi from bhim app directly. a user can also link multiple bank account with bharat interface for money i.e. bhim app. The mobile number with Bharat Interface for money and the one registered with bank should be the same then only it will fetch account details with existing MMID. After that Bharat Interface for money fetches details of account numbers.

if you are having any query related to BHIM App just comment below.

Lists Of UPI Enabled Banks in India with Best security

Lists Of UPI Enabled Banks in India with Best Security: As RBI have asked each and every bank in India to be UPI enabled Banks. As UPI will be the future of cashless payments in India. In this post we are going to share list of upi enabled banks As we have already shared about Unified Payment Interface (UPI), It is a system that powers multiple bank accounts into a single mobile application (of any participating bank), like chillr which is for bank of India, merging several banking features, like unlimited fund transfer from one bank to another bank and payments of various merchants into one single platform.

UPI enabled banks
list of upi enabled banks

As of 30th December 2016, following banks are UPI enabled Banks. Lists are below. Continue reading “Lists Of UPI Enabled Banks in India with Best security”

What is Aadhar Enabled Payment System

After UPI In this Post we are going to share  about AEPS Aadhar enabled payment system.  Aadhar enabled payment system allows bank to bank transaction at POS pointof sale through MicroAtm with the help of the banking correspondent of the banks. For using aadhar enabled payment system first a customer should have feed his aadhar number in his bank account. After adding aadhar card in bank account a customer can make transaction without remembering pin details with help of bio metric authentication.

Aadhar Enabled Payment System Services :

AEPS
         aadhar enabled payment system
  1. any one can do his balance enquiry
  2. we can withdraw cash
  3. it also support cash deposit
  4. most unique feature of AEPS is that one can transfer fund through aadhar to aadhar. Yes aadhar to aadhar fund transfer is possible through AEPS.

Following steps have to follow for AEPS transactions. Continue reading “What is Aadhar Enabled Payment System”

What is digi dhan vyapar yojna

Today last man ki baat of the year 2016 prime minister announced digi dhan vyapar yojna a initiative plans to enable consumers and merchants to undertake real time digital transactions through the DigiDhan Bazaar.

Digi Dhan Vyapar yojna is only for traders businessman to enable them to facilate them more about cashless transaction and to understand them about the uses of cashless transaction in the development of the country not only the developmemtn of the country but also their own development and more user friendly.

difi dhan vyapar yojna
Digi Dhan Vyapar Yojana is a new cashback award scheme announced by Modi Govt for merchants who accept or pay using cashless digital  transaction. its just like the

Continue reading “What is digi dhan vyapar yojna”