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Tag: Bank

  • Bank cash deposit rule changed : Big news! Now without these

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    On 10 May 2022, the government had implemented these rules by issuing a notification. PAN Card and Aadhar Card have been made mandatory for depositing large amounts of cash in one or more banks in a financial year. Similarly, the government has also set the limit for cash transactions.

    New Delhi. The central government has taken several steps to crack down on illegal and unaccounted cash transactions. The government has amended the cash withdrawal limit and also made PAN card and Aadhar card mandatory for depositing large amounts of cash in one or more banks in a financial year. Is. This means that now you have to show PAN card and Aadhar card while depositing large amount. Not only this, a provision has also been made for heavy fines for paying cash or receiving cash in excess of the prescribed limit.

    Under the new rules, it has now been made mandatory to provide PAN or Aadhaar for depositing or withdrawing more than Rs 20 lakh in banks. On May 10, 2022, the government had implemented these rules by issuing a notification. The Central Board of Direct Taxes (CBDT) has made new rules under the Income Tax (15th Amendment) Rules, 2022. After the implementation of these new rules, if a person deposits a total amount of 20 lakh rupees or more in a financial year in one or more accounts in any banking company, co-operative bank or post office, then PAN and Aadhar card for him. Giving has become mandatory.

    What will happen to those who do not have PAN?

    Those who do not have PAN will have to apply for PAN at least seven days prior to any transaction of more than Rs 50,000 in a day or more than Rs 20 lakh in a financial year. Similarly, if a person withdraws a total amount of 20 lakh rupees or more in a financial year from one or more accounts of any banking company, co-operative bank or post office, then he will have to give PAN or Aadhar card.

     

    Keep these things in mind

    • Income tax laws prohibit cash transactions above Rs 2 lakh for any reason. Therefore, avoid excessive cash transactions, otherwise you may have to pay a fine.
    • The government prohibits accepting cash above Rs 2 lakh. Therefore, in a single day, you cannot take more than Rs 2 lakh in cash even from your close relatives.
    • Not more than Rs 2 lakh can be accepted as a cash gift from a single donor at a time. If anyone violates this, he can be fined equal to the amount received.
    • Do not pay cash for health insurance. If the taxpayer pays the insurance premium in cash, he will not be eligible for section 80D deduction.
    • In a property transaction, the maximum cash allowed is also Rs 20,000. If a seller is in advance, then the maximum limit is only two lakh rupees.

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    ( With inputs from : kashmirpublication.in )

  • Bank Statement: Important news! When should you check bank

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    Bank Statement: Most of the people forget to check the bank statement of their account. Due to which they may have to face a lot of trouble. In such a situation, let us know in the news below that when should the bank account statement be checked.

    Bank Statement is a record of transactions done in your bank account during a certain period. This is the authentic document, which gives you the account of your bank account for a particular period. It contains a brief description of the transaction.

    The statement contains details of deposits, charges, withdrawals and the beginning and end balance of a period. Now the question arises that how many times in a year the bank account holder should check his account statement? What are the benefits of checking statements at regular intervals? What are the disadvantages for the customer if he neglects to check the bank statement?

    Surprisingly, most of the bank customers do not know at what intervals they should check their account statements. Usually customers check bank statement only when they have to give it somewhere. Now-a-days many banks e-mail the bank account summary at regular intervals. But, most people do not see it. Banking sector experts say that customers should check their account statement every month. By checking the bank statement every month, where any kind of fraud with the customer will be detected quickly, on the other hand, if the bank has deducted more charges, then it will also be known.

     

    Benefits of checking statement every month-

    Hacking into bank accounts has become a common thing now. Bank statement is an important document, which can be used as proof of fraud. You can easily detect fraudulent transactions by checking the bank statement. By checking the bank statement regularly, you can find out where your money is coming from and where it is going.

    It helps in keeping track of each and every transaction. If you are spending more money without any reason, then it will be known from the bank statement. For example, you can easily point-out the expenses like restaurant bill, online shopping etc. on your bank statement and thus you can cut down on your expenses.

    Bank charge information-

    Banks deduct a certain amount on various transactions. Banks deduct money in the form of physical account details, issue of duplicate passbooks, debit card fees etc. If you check your bank statement every month, you will come to know about these charges. If the bank has deducted more charges, then you can complain about it.

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    ( With inputs from : kashmirpublication.in )

  • J&K Bank Issues Important Notice For Costumers – Check Here – Kashmir News

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    Jammu & Kashmir Bank Has Issued Important Notice For Customers

    • No Bank Official/Financial institution asks customers to share confidential information such as OTP, Password, Username, CVV, Card Details etc.
    • Don’t use public Wi-Fi, Unknown charging ports, cables, etc.
    • Don’t click unknown links in SMS’s or emails.
    • Don’t make payments or share secure credentials for lottery calls/emails.
    • Always delete the spam SMS/email immediately.
    • Be very careful while making online financial transactions.
    • Entering PIN/Password is required to send money only. Don’t enter your PIN/password, even if UPI or any other app asks for it, to receive money online.WhatsApp Image 2023 03 01 at 13.01.11

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    Phishing it is an attempt to ‘fish’ for your banking details. Phishing could be an e-mail that appears to be from a known institution like banks / a popular website.

    Please note that Banks will never ask for confidential data like login and transaction password, One Time Password (OTP), Unique Reference No. (URN), etc.

    How Phishers Fish

    • Phishers sets up a replica page of a known financial institution or a popular shopping website
    • Bulk e-mails are sent to users asking for their personal data like account details, passwords etc
    • When the user clicks on the link, the replica of the website will open. Or while the user is online, a form will populate through a pop-up window
    • If a user gets hooked and enters personal information on the replica page, the data goes to phishers. Post which the user is redirected to the genuine website

    Governor Manoj Sinha Inaugurates True 5G Services In J&K To Enjoy From Today – Here’s How To Activate 5G Services On Your Smartphone

    Phishers use a combination of email phishing, vishing (voice phishing) and smishing (SMS phishing) to get customer details like account no., login ID, login and transaction password, mobile no., address, credit card no., CVV no., PAN, date of birth, mother’s maiden name, passport no.,

    How To Identify Phishing Attempt

    • Unsolicited emails, calls from strangers or websites asking for confidential banking details.
    • Messages asking for urgent action due to security reasons.
    • Links received in emails to access known websites.
    • To check the actual website, roll the cursor over the link or check for https:// where “s” stands for ‘secure site’.

    Click and paste the following link for detailed information on what to do if you have given out personal information: http://www.jkbank.net/grievance.php

    FOR ASSISTANCE CALL 1800 890 2122 |LOG ON TO www.jkbank.com

    An Initiative under Cyber Jaagrookta Abhiyaan


    Post Views: 678

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    ( With inputs from : kashmirnews.in )

  • Economy – World Bank: earthquakes in Turkey caused damages of 34.2 billion dollars

    Economy – World Bank: earthquakes in Turkey caused damages of 34.2 billion dollars

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    First modification:

    The World Bank estimated the economic cost of the damage caused in Turkey by the strong earthquakes that affected the southeast of the country at the beginning of the month at more than 34,000 million dollars, while warning that reconstruction could cost twice that amount.

    The number could double. The World Bank estimated the economic costs of the February 6 earthquakes in Turkey at $34 billion, mainly affecting the southeast of the country.

    “The report acknowledges that the costs of salvage and reconstruction will be much higher (than those caused by the damage), potentially twice as large, and that the associated Gross Domestic Product (GDP) losses will add to this cost,” the report explained. institution in a statement.

    Humberto López, director of the World Bank for Turkey, declared that the earthquakes discounted at least half a percentage point in the expected GDP growth of Turkey, which would be between 3.5% and 4% for this year.

    Of the cataloged damages, some 18,000 million dollars, more than half were in damages caused to residential buildings. The World Bank estimates that around 1.25 million people were temporarily left homeless due to damage to their homes.

    The institution already announced on February 9 an initial aid package of 1,780 million dollars for the reconstruction and rescue efforts.

    People look at the debris left behind by flooding in the town of Bozkurt, in Kastamonu province, Turkey. August 13, 2021. © Can Erok / Demiroren Visual Media via Reuters

    On the other hand, the situation in Syria was “really catastrophic,” said Anna Bjerde, World Bank Group vice president for Europe and Central Asia. The Bank will publish a separate estimate of the damage in Syria on Tuesday.

    The earthquakes, measuring 7.7 and 7.6, caused more than 44,000 deaths in Turkey alone. In Syria, almost 6,000 deaths have been registered. According to the World Bank report, more than 7,500 aftershocks occurred after the movements, which is the largest catastrophe of its kind in Turkey in more than 80 years.

    with Reuters

    #Economy #World #Bank #earthquakes #Turkey #caused #damages #billion #dollars

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    ( With inputs from : pledgetimes.com )

  • Bank cash deposit rule changed : Big news! Now without these two

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    Bank cash deposit rule changed : Big news! Now without these two documents there will be no cash deposit in the bank, know new rules here


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    On 10 May 2022, the government had implemented these rules by issuing a notification. PAN Card and Aadhar Card have been made mandatory for depositing large amounts of cash in one or more banks in a financial year. Similarly, the government has also set the limit for cash transactions.

    What will happen to those who do not have PAN?

    Those who do not have PAN will have to apply for PAN at least seven days prior to any transaction of more than Rs 50,000 in a day or more than Rs 20 lakh in a financial year. Similarly, if a person withdraws a total amount of 20 lakh rupees or more in a financial year from one or more accounts of any banking company, co-operative bank or post office, then he will have to give PAN or Aadhar card.

     

    Keep these things in mind

    • Income tax laws prohibit cash transactions above Rs 2 lakh for any reason. Therefore, avoid excessive cash transactions, otherwise you may have to pay a fine.
    • The government prohibits accepting cash above Rs 2 lakh. Therefore, in a single day, you cannot take more than Rs 2 lakh in cash even from your close relatives.
    • Not more than Rs 2 lakh can be accepted as a cash gift from a single donor at a time. If anyone violates this, he can be fined equal to the amount received.
    • Do not pay cash for health insurance. If the taxpayer pays the insurance premium in cash, he will not be eligible for section 80D deduction.
    • In a property transaction, the maximum cash allowed is also Rs 20,000. If a seller is in advance, then the maximum limit is only two lakh rupees.

    2B73C2ED AC2B 4058 AE6D 471302F0E5E1

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    #Bank #cash #deposit #rule #changed #Big #news

    ( With inputs from : kashmirpublication.in )

  • JK Grameen Bank Two Wheeler Loan Check Eligibility

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    Purpose:

    For purchase of new Two-Wheelers i.e. Scooters, Motor Cycles, Scooties, Battery-Operated Scooters, etc. of any make and model.

    Eligibility:

    1. Employees of Government / Semi-Government Undertakings, Autonomous bodies, Public Sector Undertakings, Private Companies or Reputed Establishments, Professionals or self-employed individuals/ Businessmen, etc.
    2. Pensioners, drawing their monthly pension from our Bank or other Banks whose spouse is alive and is eligible for family pension. The spouse shall stand as guarantor.
    3. Minimum age of applicant: 18 years.
    4. Students, aged 18 years & above, with Father or Mother or Spouse as co-borrower.
    5. Maximum age of applicant at loan maturity: Age of Retirement for salaried individuals & 65 years for others.
    6. Minimum employment: The applicant must have been in current employment for a period not less than 1 year or must have a business standing of at least 2 years.
    7. The borrower should have a valid driving license.
    8. Minimum Net Annual Income of Rs.1.00 lac.

    Amount of Loan:

    1. 12 times net monthly salary/ income or 75% of the ex-showroom price of two wheeler or Rs. 1.00 lac ((Rs.2.00 lac for motorcycles only), whichever is less.
    2. In case of girl students/ working ladies, the maximum finance shall be available up to 85% of the ex-showroom price of scooties within the above prescribed limits.
    3. In case the requirement is more than the maximum finance amount, the borrower must bring that amount as additional margin.
    4. The net monthly home take income/ salary of the borrowers after including the installment amount on this loan should not be less than 40% of the gross monthly income/ salary.
    5. In case of students who are either still studying/ don’t have regular or documented source of income, the finance shall be provided in their name with parent/ Guardian/ Spouse as co-borrower and the 40% net home take salary principle shall apply to co-borrowers.

     

    Margin:

    1. 25% of invoice value
    2. 15% of invoice value (for girl students/ working ladies for purchase of scooties only).

    Security:

    1. Primary: Hypothecation of two-wheeler to be purchased.
    2. Collateral: Third party guarantee of one person of sound net means/ income to withstand the liability.

    Repayment:

    Maximum of 60 months. However, a borrower can opt for any tenure within the maximum ceiling.

    Processing charges:

    0.50% of the loan amount.

    (NIL for girl students/ working ladies for purchase of scooties only).

    * Conditions Apply

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    ( With inputs from : kashmirpublication.in )

  • J&K Bank Kissan Dost Finance Scheme Check Eligibility

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    F112F5FA 168C 4ADB 9222 DB1B840B9CF4

    PURPOSE

    For purchase of wide range of Agricultural/Horticultural implements/machinery including Power Tillers, Reapers, Weeders, Harvesters, Rice Transplanters, Pump Sets, Sprayers, Threshers, Tractors, Load Carriers, Wheel Carts,  Three wheeler Load Carriers, One Ton Load Carriers etc. The list is indicative and not exhaustive. It can include all types of implements/equipments, machinery utilized by the farmers for farm mechanization purposes.

    ELIGIBILITY

    1. For financing Tractors/Harvesters/Reapers/Four Wheeler Load Carriers

    Farmers/Employees owning minimum Irrigated cultivable agri land holding of 4 kanals or more for cultivation of crops including vegetables, floriculture, horticulture, cereals, pulses, fruit, medicinal and aromatic plants, etc.

    OR

    Non-Irrigated cultivable agri land holding of 8 kanals or more for cultivation of crops including vegetables, floriculture, horticulture, cereals, pulses, fruit, medicinal and aromatic plants, etc.

    2.For financing Power Tillers, weeders, Rice transplanters, Pump Sets, Sprayers, Threshers, Three Wheeler Load Carriers etc.

    Farmers/ Employees with minimum cultivated agri land holding of half an acre i.e. “4 kanals” for cultivation of crops including vegetables, floriculture, horticulture etc. The maximum amount of loan to the farmers having 4 kanals of land shall not exceed Rs 7.00lacs.

    3. For financing pump sets, sprayers, grass cutter, baskets & receptacles, ladder, trays handcarts etc.

    Farmers/Employees owning minimum apple cultivated land of 2 kanals. The maximum amount of loan to the farmers having 2 kanals of land shall not exceed Rs2.00lacs.

     

    MAXIMUM PERMISSIBLE FINANCE

    1.General Category Borrowers Maximum Loan Amount Rs.15.00 lacs.

    2. Central/state Government Employees and employees of Public Sector Undertakings, Autonomous Bodies & Institutions. 48 months gross salary or Rs15.00 lacs whichever is lower. Gross deduction from salary including installments of the proposed loan not to exceed 60% of gross income.

    MARGIN

    10 % of Invoice value across all categories.

    RATE OF INTEREST (SUBJECT TO CHANGE)

    1 Year MCLR + 0.25% (Floating) present effective 9.05% with reset clause of one year.

    REPAYMENT

    Term Loan shall be repaid in maximum 7 years in 84 equated monthly installments with moratorium period up to three months from the date of first disbursement of the facility. Thus maximum door to door tenor of loan shall be 7 years and 03 months. In case of Central/state Government Employees and employees of Public Sector Undertakings, Autonomous Bodies & Institutions repayment to be fixed in such a way that the facility is adjusted one month before attaining age of superannuation or 07 years and three months from date of first disbursement whichever is earlier. However if the employees provide the collateral security as applicable to General category farmers, the repayment may be fixed as per cash flows without linking the same with age of superannuation.

    F112F5FA 168C 4ADB 9222 DB1B840B9CF4

    The post J&K Bank Kissan Dost Finance Scheme Check Eligibility and Rate of Interest appeared first on Kashmir Publication.

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    ( With inputs from : kashmirpublication.in )

  • 54 Cooperative Bank Branches Made Profit After 33 Years, Govt Says

    54 Cooperative Bank Branches Made Profit After 33 Years, Govt Says

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    SRINAGAR: After a high-level meeting that reviewed the functioning of the cooperative banking sector, the government said while non-performing assets are down as many as 54 branches made a profit for the first time in 33 years. Cooperative Commissioner Yasha Mudgal presided over the meeting.

    Lt Governor Manoj Sinha inaugurates 69th Cooperative Week Celebrations
    Lt Governor Manoj Sinha inaugurates 69th Cooperative Week Celebrations

    During the review, a DIPR statement said the MD and CEO of District Central Cooperative Banks (DCCBs) apprised that out of 154 branches of all 3 DCCBs none of the branches was in profit during the closing of the previous financial year whereas, during the current year till 31st January 2023, 54 branches are running in profit.

    “It was also informed that the Anantnag Central Cooperative Bank has already registered a profit of Rs 70 lakh till 31st January 2023, which is likely to go up to one crore plus at the closing of the current financial year,” the statement said. “This is for the first time in more than 33 years that a DCCB has registered profit. The last period when ACCB registered profit was 1989-90 which was to the tune of Rs 28000.”

    The meeting was also informed that the DCC Banks have recovered Rs 44 crore of Non-Performing Assets (NPAs) during the current financial year, so far, and the recurring losses have reduced to 50 per cent as compared to the previous year. Besides, the DCC Banks have also issued fresh lending of Rs 82 crore in the current financial year in different sectors, which will have an impact on increasing the profitability of the branches in the coming months.

    The meeting was attended by Registrar Cooperative Societies, Director Finance Cooperative Department, Additional Registrar Cooperative Societies Jammu/Kashmir, Additional Secretary Cooperative Department, MD and CEO District Central Cooperative Banks (DCCBs), Branch Heads and other concerned officials both in person and through video conferencing.

    Mudgal directed the department to hold recovery camps at the divisional level in Jammu to recover NPAs on account of Primary Agricultural Credit Societies (PACSs) on a war footing basis during the month of March.

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    ( With inputs from : kashmirlife.net )

  • JK Bank Loan Scheme For Android and Apple Phones Check

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    F112F5FA 168C 4ADB 9222 DB1B840B9CF4

    NATURE OF THE FACILITY

    • Term loan.

    PURPOSE

    • Purchase of Mobile Phones (IOS, Blackberry, Android and Windows based).

    ELIGIBILITY

    • Permanent Employees/Pensioners of State / Central Government, Government / Semi-Government Undertakings & Autonomous Bodies drawing salary through our Bank and where letter of undertaking from employer is available.
    • Customers already availing seasoned credit facilities (aged more than 2 years) where in there have been no past dues of more than one month during the currency of the loan.

    AGE

    • Minimum: 21 years.
    • Maximum age of Applicant at loan maturity: For employees Date of retirement or 60 Years whichever is earlier.
    • For others: 65 years.

    SCALE OF FINANCE

    • Minimum Finance: rupee 10,000.
    • Maximum Finance: rupee 75,000 or 12 months net income for purchasing upto three Smartphones or 90% of the invoice value of the Smartphone(s) whichever is lower.
    • Maximum finance (in case of individual small businessmen who do not file their tax returns and do not maintain the financial statements) is 10% of the credits in the operative account of the borrower during the last 12 months or 90% of the invoice value of the Smartphone(s), whichever is lower.
    • For Govt. employees gross deductions should not exceed 60% of gross salary while as for others deductions should not exceed 50% of gross income.

    MARGIN

    • 10% of the invoice value

    SECURITY

    • Primary: NIL
    • Collateral: NIL

    PROCESSING CHARGES

    • rupee350/- plus applicable GST

    REPAYMENT

    • 30 Equated Monthly Installments.

    PREPAYMENT

    • NIL

    RATE OF INTEREST (SUBJECT TO CHANGE)

    • 1 Year MCLR + 3% (fixed)

    Click here for rate of Interest

    F112F5FA 168C 4ADB 9222 DB1B840B9CF4

    The post JK Bank Loan Scheme For Android and Apple Phones Check Eligibility appeared first on Kashmir Publication.

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    ( With inputs from : kashmirpublication.in )

  • KP Bank Guard’s killing in Pulwama: Will track down terrorists, neutralize them soon, says DIG South Kashmir

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    Srinagar, Feb 26: Jammu and Kashmir police Sunday said that terrorists involved in the killing of a Kashmiri Pandit Bank guard in Achan area of Litter hamlet of South Kashmir will be tracked down and neutralized soon.

    Talking to reporters, Deputy Inspector General (DIG) of Police, South Kashmir range, Rayees Muhammad Bhat said unknown terrorists fired at a bank security guard from Pandit community at Achan area of Litter. “We are acting swiftly and investigating the matter. The terrorists involved in this heinous crime will be tracked down and neutralized soon,” Bhat as per news agency—Kashmir News Observer (KNO)

    The slain was identified as Sanjay Pandith son of Kashi Nath Pandit of Achan area of Litter, Pulwama district. Meanwhile, Kashmiri Pandit Sangarsh Samiti (KPSS) in a tweet said: “Govt and BJP4India canot handle 75 lakh Kashmiri Population and want to control PoK and Balochistan. Kashmiri Pandits are killed like dogs in Kashmir and @HMO India and @office of LG J&K sensor the information that Kashmir most dangerous place for KPs in this world.”—(KNO)

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    #Bank #Guards #killing #Pulwama #track #terrorists #neutralize #DIG #South #Kashmir

    ( With inputs from : roshankashmir.net )