Tag: Bank

Israel approves building 7,157 new housing units in West Bank settlements

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Jerusalem: Israel has approved plans to build 7,157 new housing units in the settlements in the occupied West Bank, an Israeli settlement watchdog group said.
The Higher Planning Council of the Civil Administration, an Israeli body responsible for approving construction in the West Bank, approved the building plans after two days of discussions that began on Wednesday, according to a statement released by Peace Now on Thursday.
Out of the planned new housing units, 5,257 units are being advanced with preliminary approval, while 1,900 are waiting for the final approval required for the construction to begin, it said.
This represents one of the largest settlement expansion projects approved in recent years, compared to 4,427 housing units approved in 2022 and 3,645 units in 2021, it added.
The move came fewer than two months after the swearing-in of Prime Minister Benjamin Netanyahu’s right-wing coalition, which is dominated by ultra-nationalist and pro-settler parties, Xinhua news agency reported.
On Wednesday, an Israeli military raid in the West Bank city of Nablus killed 11 Palestinians and injured 102 others, aggravating the already tense ties between Israelis and Palestinians.
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( With inputs from www.siasat.com )

February 24, 2023
Biden nominates Indian-American Ajay Banga for World Bank president

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Washington: President Joe Biden on Thursday announced that the US is nominating Ajay Banga to lead the World Bank, saying the Indian-American business leader is uniquely equipped to lead the global institution at “this critical moment in history.”
Banga, 63, currently serves as Vice Chairman at General Atlantic. Previously, he was President and CEO of Mastercard, leading the company through a strategic, technological and cultural transformation. He was awarded the Padma Shri in 2016.
“Ajay is uniquely equipped to lead the World Bank at this critical moment in history,” President Biden said in a statement.
“He has spent more than three decades building and managing successful, global companies that create jobs and bring investment to developing economies, and guiding organisations through periods of fundamental change.
“He has a proven track record managing people and systems, and partnering with global leaders around the world to deliver results,” Biden said.
Banga also has critical experience mobilising public-private resources “to tackle the most urgent challenges of our time, including climate change,” the US President said.
Raised in India, Banga has a unique perspective on the opportunities and challenges facing developing countries and how the World Bank can deliver on its ambitious agenda to reduce poverty and expand prosperity, he added.
Over the course of his career, Banga has become a global leader in technology, data, financial services and innovating for inclusion. He is honorary chairman of the International Chamber of Commerce, serving as chairman from 2020-2022. He is also chairman of Exor and independent director at Temasek.

He became an advisor to General Atlantic’s climate-focused fund, BeyondNetZero, at its inception in 2021. He previously served on the Boards of the American Red Cross, Kraft Foods and Dow Inc.
Banga, who has worked closely with Vice President Kamala Harris as the Co-Chair of the Partnership for Central America, is a member of the Trilateral Commission, a founding trustee of the US-India Strategic Partnership Forum, a former member of the National Committee on US-China Relations, and Chairman Emeritus of the American India Foundation.
He is a co-founder of The Cyber Readiness Institute, Vice Chair of the Economic Club of New York and served as a member of President Barack Obama’s Commission on Enhancing National Cybersecurity. He is a past member of the US President’s Advisory Committee for Trade Policy and Negotiations.
He was awarded the Foreign Policy Association Medal in 2012, the Ellis Island Medal of Honour and the Business Council for International Understanding’s Global Leadership Award in 2019, and the Distinguished Friends of Singapore Public Service Star in 2021.
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#Biden #nominates #IndianAmerican #Ajay #Banga #World #Bank #president
( With inputs from www.siasat.com )

February 23, 2023
Biden nominates Banga, former Mastercard CEO, to head World Bank

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Ajay Banga, president and CEO of MasterCard, speaks during a press conference at the National Press Club, Dec. 17, 2018, in Washington, D.C. | Win McNamee/Getty Images
President Joe Biden on Thursday nominated Ajay Banga, the former CEO of Mastercard, to lead the World Bank.
Biden said in a statement that Banga is “uniquely equipped to lead the World Bank at this critical moment in history.” World leaders have called on the international financial institution to rethink how it addresses emerging global crises like climate change, food security and the coronavirus pandemic.
The nomination comes just days after current World Bank President David Malpass announced he would resign by July, months ahead of when the Trump administration-nominated president’s term expired.
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#Biden #nominates #Banga #Mastercard #CEO #World #Bank
( With inputs from : www.politico.com )

February 23, 2023
JK Grameen Bank Home Loan Scheme Check Eligibility
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Eligibility:
a) A permanent employee working in Govt. / Semi-Govt. / Public Sector undertaking/ Autonomous Bodies having completed minimum 2 years of confirmed service as on date of application. The employee should be maintaining his/ her salary or saving bank account with the Bank or maintaining his salary account with other Bank.
b) Employees of Reputed Companies with a minimum of 3 years of service.
(c) Central/ State Govt. Pensioners, except family pensioners, drawing their monthly pension from our bank whose spouse is alive and is eligible for family pension.
(d) Farmers/ Orchardist/ Business-men/ Traders/ Contractors with a minimum standing of two years.
(e) Professionals & Self Employed Persons like Doctors/ Engineers/ Architects/ Chartered Accountants/ Advocates etc. with a minimum standing of 2 years.
2) Age of the Applicant:
- Minimum : 18 years
- Maximum:
  a) For salaried employees the loan repayment period shall be adjusted in such a way that the loan along with interest is adjusted atleast six months prior to the date of retirement.
  b) For pensioners the loan sanctioned will be fully repaid by the time pensioner attains the age of 70 years.
  c) For others, the maximum age at loan maturity shall be 65 years
  (Actual loan amount will be determined taking into consideration such factors as applicant’s income and repaying capacity, age, assets and liabilities, cost of the proposed house etc.)
3) Quantum of Loan:
For the purpose of working out of loan assistance, Project cost shall be estimated on realistic basis at current cost of construction/ valuation in case of readymade houses from qualified approved engineers. The maximum loan that can be considered for sanction under direct finance housing as under:
- i) For construction/ purchase of built House/ flat-
  60 months net salary/ income or Rs. 30.00 lacs whichever is lower. For pensioners, the maximum eligible loan amount shall be 36 times the gross monthly pension.
- ii) For repairs/ renovation/ extension/ addition-
  30 months net salary/ income or Rs.15.00 lacs, whichever is lower.
- iii) For purchase of a plot of land for construction of dwelling house:
  30 months net salary/ income or Rs. 12.00 lacs whichever is lower. Maximum size of plot of land to be purchased shall not exceed 1 kanal.
Loan cases over and above Rs.30.00 lacs can also be entertained after obtaining proper permission from Head Office
Branches may extend finance to a person who already owns a house in town/village where he resides, for buying/ constructing a second house in the same or other town/ village for the purpose of self occupation.

4) Margin:
25% of the project cost.
5) Security:
For loans upto Rs.2.00 lacs:
Primary: Negative Lien on house property with power of attorney to sell the same in case of default.
Collateral: Third party guarantee of one person of sound financial net means, acceptable to the Bank and good for the loan amount.
For loans above Rs.2.00 lacs:
Primary: Mortgage of the house/ property to be constructed/ purchased along-with the land underneath and appurtenant thereto it.
Collateral: Third party guarantee of one person of sound financial net means, acceptable to the Bank and good for loan amount.
6) Repayment Period:
The loan along-with interest at prevailing rate shall be repayable in 5 Years to 20 years in equal monthly installments after the moratorium period.
In case of salaried employees, the repayment period shall be fixed in a manner that the entire principal amount along with interest is liquidated six months prior to the date of his/ her retirement within the maximum repayment period of 20 years. Moreover, it shall be discretion of the borrower to repay the loan in shorter period with larger sums or pay installments even during the moratorium period. For pensioners repayment period shall be 10 years or till the pensioner attains the age of 70 years whichever is earlier.
7) Processing Charges:
0.25% of the Loan Amount
50% of Concession in Processing Charges for Female Borrowers (Site/Joint Borrowers)
* Conditions Apply
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#Grameen #Bank #Home #Loan #Scheme #Check #Eligibility
( With inputs from : kashmirpublication.in )
February 23, 2023
J&K Bank Modular Kitchen Finance Scheme Check Eligibility
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NATURE OF THE FACILITY
Term loan.
PURPOSE
Purchase of Modern Modular Kitchen.
ELIGIBILITY
Permanent employees (minimum service record of 3 years) of Govt (State & Central) , Semi Govt Departments, Public Sector Undertakings, Autonomous Bodies and reputed Public / Private limited companies..
Professionals/Self Employed like Doctors, Lawyers, Chartered Accountants, Engineers with a minimum standing of 2 years.
Pensioners (State/Central) drawing pension through our bank.
Minimum age: 18 years.
Maximum age at loan maturity: 60 years for professionals/Self Employed, 65 years for pensioners.
In case of Govt employees, loan should be adjusted one month before the date of retirement.
SCALE OF FINANCE
Maximum: 5 lakh or 60 months net income or 80% of the cost of the modular kitchen, 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
20%
SECURITY
Primary: Hypothecation of items purchased.
Collateral:
Third Party Guarantee of one person of sufficient net worth for all categories.
For pensioners, guarantee of spouse eligible for family pension.
No third party guarantee required for Union Territories of J&K and Ladakh Government employees drawing monthly salary through our Business units and who provides letter of confirmation from their DDOs. Where Letter of confirmation is not available 3rd party guarantee of one person of sound means.
No third party guarantee in case of the Fixed Deposit holders having term deposits in the Business unit equal to 100% of the loan amount or pledge NSC, Insurance Policies or other Govt Securities of equivalent value. The fixed deposit/security shall remain under lien to the Bank till adjustment of loan.
PROCESSING CHARGES
0.5% of the amount disbursed.
REPAYMENT
Upto 2,50,000: 72 months.
Above 2,50,000: 84 months.
PREPAYMENT
No penalty on prepayment.
RATE OF INTEREST (SUBJECT TO CHANGE)
For state Govt. Employees & Pensioners (State/Central) : Applicable MCLR + 3.00% p.a fixed with monthly rests.
For others: Applicable MCLR + 3.50% p.a. fixed with monthly rests.
Click here for rate of Interest
The post J&K Bank Modular Kitchen Finance Scheme Check Eligibility and Rate of interest appeared first on Kashmir Publication.
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#Bank #Modular #Kitchen #Finance #Scheme #Check #Eligibility
( With inputs from : kashmirpublication.in )
February 23, 2023
Hyderabad: 5 persons sentenced to jail term in bank fraud case

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Hyderabad: The Enforcement Directorate (ED) and the Metropolitan Sessions Judge has convicted all the accused involved in Chiakkilam Trade House Limited Bank Fraud case amounting to Rs. 2.08 crore and sentenced them to jail terms.
A case under Section 3 of the Prevention of Money Laundering Act, (PMLA) 2002 is registered against T Jayasree, M Chinna (employees of M/s Chakkilam Trade House Limited) and three bank officials namely S Narasimhan, A Sesibhushana Rao and S Arogyam for cheating the SBI bank.
All the five persons were sentenced to undergo rigorous imprisonment for a period of seven years and were asked to pay a fine of Rs. 50,000 each. Further, the Court has directed M/s Chakkilam Trade House Limited to pay a fine of Rs. 1 lakh.
Prevention of Money Laundering Act investigation was conducted by ED on the basis of a case registered by the Central Bureau of Investigation, Anti-Corruption Branch, Hyderabad under various provisions of Indian Penal Code (IPC) and Prevention of Corruption Act, 1988.
The ED investigation established that M/s Chakkilam Trade House Limited (then represented by its Director Late Sh. Chakkilam Raghuram) had fraudulently availed a loan from SBI on the basis of fabricated financial statements, board resolution and documents showing higher turnover and fake MoUs with various parties showing business dealings.
A total amount of Rs 2.08 crore sanctioned by SBI was misappropriated and laundered.
Investigation also revealed that properties, which were mortgaged with the banks for the loan, were already sold by the company and its promoters.
On conclusion of investigation, ED filed a Prosecution Complaint in December 2013 against M/s Chakkilam Trade House Limited and six accused persons, including three bank officials, involved in the offence of money laundering.

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#Hyderabad #persons #sentenced #jail #term #bank #fraud #case
( With inputs from www.siasat.com )

February 22, 2023
J&K Bank: Big Update Regarding JK Bank’s Mpay, e-Banking, UPI Services- Check Here – Kashmir News

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Jammu & Kashmir Bank: Big Update Regarding JK Bank’s Mpay, e-Banking, UPI Services
News WhatsApp Group Links – Join Now
Notice: Dear Customer, Our e-Banking, Mpay, UPI and NEFT/RTGS services will not be available from 01:00 hrs to 03:00 hrs on 23.02.2023 due to maintenance activity. Inconvenience caused is regretted. J&K Bank
Massive earthquakes can hit these parts of India any time, warns NGRI- Details Here

Post Views: 5,729
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#Bank #Big #Update #Banks #Mpay #eBanking #UPI #Services #Check #Kashmir #News
( With inputs from : kashmirnews.in )

February 22, 2023
10 Palestinians killed in Israeli raid In West Bank

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Ten Palestinians were killed, and dozens were injured by Israeli occupation forces’ bullets, during their raid on the city of Nablus on Wednesday.
The Palestinian health ministry confirmed the death of ten Palestinians and 102 injured, as the Israeli forces shot them during their continuous aggression on the city of Nablus.
According to the ministry, the ten dead were 72-year-old Adnan Sabe’ Baara, 25-year-old Mohammad Khaled Anbousi, 33-year-old Tamer Minawi, 26-year-old Musab Owais, 24-year-old Hossam Isleem, 23-year-old Mohammad Abdulghani, 23-year-old Waleed Dakheel, 61-year-old Abdulhadi Ashqar, 16-year-old Mohammad Farid Shaaban and 23-year-old Jasser Abdelwahab Qan’eer.
Palestinian Red Crescent said that its members dealt with dozens of cases – who were shot – in Nablus, in addition to 250 cases of suffocation.
عاجل| وزارة الصحة: ارتفاع حصيلة عدوان الاحتلال على #نابلس إلى 10 شهــــداء.
— وكالة شهاب للأنباء (@ShehabAgency) February 22, 2023
عاجل | إصابة شابين برصاص الاحتلال في نابلس والقوات تمنع سيارات الإسعاف من الوصول إليهما pic.twitter.com/dqB17X7D8e
— وكالة شهاب للأنباء (@ShehabAgency) February 22, 2023
تغطية صحفية: “شبان يحاولون إعادة قنـابل الغاز التي يلقيها الاحتلال صوبهم بكثافة في مدينة نابلس”. pic.twitter.com/r890yI3pKs
— المركز الفلسطيني للإعلام (@PalinfoAr) February 22, 2023
As per Anadolu Agency reports, large forces of the Israeli army stormed Sheikh Muslim neighborhood on the outskirts of the old city of Nablus, and surrounded a house where terror suspect was hiding out.
The army closed all entrances to the city before besieging a house with two wanted Palestinian fighters, Hossam Islam and Muhammad Abdel-Ghani, who were killed.
Clashes took place between dozens of Palestinians and the Israeli army, in which the latter used metal bullets.
Users of social media platforms widely circulated a video of the defenseless elderly sheikh, who was lying on the ground in the Old City of Nablus, after he was shot dead by the Israeli occupation.

For several months, the occupation army has been pursuing the Palestinian armed group “The Lions’ Den”, which is based in the old city of Nablus.
The Lions’ Den group called on the people to take to the streets and burn the ground under the feet of the occupation, saying, “Shame on everyone who carries a gun and does not take it to the field of honor and manhood.”
عاجل | عرين الأسود: “ندعو أهالينا للنزول إلى الشوارع وإحراق الأرض تحت أقدام الاحتلال، عار على كل من يحمل بندقية ولا ينزل بها لميدان الشرف والرجولة”.
— وكالة شهاب للأنباء (@ShehabAgency) February 22, 2023
The appointment of Ben Gvir to his security position in the Israeli government sparked a lot of criticism on the Arab and international levels, and even inside Israel, due to fears of a significant escalation of tension, especially in the West Bank and Jerusalem.

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( With inputs from www.siasat.com )

February 22, 2023
J&K Bank Kissan Credit Card Scheme Check Features

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To provide adequate and timely credit to farmers under single window, with flexible and simplified procedure, adopting whole farm approach, including the short-term credit, medium term and long term credit needs of the borrowers for agriculture and allied activities and a reasonable component for consumption needs as indicated below:-
Short Term Credit Limit:
• To meet the short term credit requirements for cultivation of crops
• Post harvest expenses
• Produce marketing loan
• Consumption requirements of farmers household.
• Working capital for maintenance of farm assets and activities allied to agriculture, like dairy animals, inland fishery etc.
Long Term Credit:
• Investment credit requirement for agriculture and allied activities like pump sets, sprayers, tillers, agri implements, dairy animals, sheep, poultry etc.
KCC Scheme also includes the crop loans under Apple Advance Scheme
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( With inputs from : kashmirpublication.in )

February 22, 2023

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J&K Bank Cash Credit Scheme (Salaried Employees)

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NAME OF THE PRODUCT

J&K Bank Cash Credit Scheme

PURPOSE

The product is aimed at addressing the cyclic liquidity needs of salaried employees.

ELGIBILITY

Permanent Employees of Central Government, and State Government / Semi-Government Undertakings & Autonomous Bodies drawing salary from our Bank.

CLASSIFICATION

Non-Priority

NATURE OF THE FACILITY / QUANTUM / REPAYMENT

The facility shall be revolving in nature up to 8 years before the age of retirement of the employee*. The drawing power (DP) will thereafter be reduced on borrower’s birthday every year on pro-rata basis by reducing the principal amount so that the facility gets adjusted by 1 year before the age of retirement. The annual reduction can be spread over four quarters.The interest will be serviced by the borrower as and when applied.
Under this scheme, the credit facility can be sanctioned in favor of employees who is nearing his/her date of retirement. However the facility will be sanctioned on drop line limit basis as under:

Remaining Service	Maximum Limit
Up to 8 years	6 times salary credited in the account or Rs. 6.00 Lakh, whichever is lower
7 years	5 times salary credited in the account or Rs. 5.00 Lakh, whichever is lower
6 years	4 times salary credited in the account or Rs. 4.00 Lakh, whichever is lower
5 years	3 times salary credited in the account or Rs. 3.00 Lakh, whichever is lower
4 years	2 times salary credited in the account or Rs. 2.00 Lakh, whichever is lower
3 years	equal to salary credited in the account or Rs. 1.00 Lakh, whichever is lower

Quantum of finance:

Minimum: Rs. 50,000.00
Maximum : 6 times average of previous three month’s salary credited in the account; or Rs. 6, 00,000.00 whichever is lower.

* The scheme is customized for all retirement age brackets that are in vogue in the Government service sector i.e. 60, 62 and 65 years.

REPAYING CAPACITY

Stipulation of minimum take home salary shall not be insisted for this loan scheme, however the Interest outgo/ payable in this loan scheme shall be added to deduction for granting loan (s) under other schemes of the bank.

AGE OF THE APPLICANT

Minimum age of Applicant: 21 years.
Maximum at the time of loan Maturity: One year before the age of retirement.

REPAYING CAPACITY

Stipulation of minimum take home salary of 40% shall not be insisted for this loan scheme, however the Interest outgo/ payable in this loan scheme shall be added to deduction for granting loan (s) under other schemes of the bank.

MARGIN

SECURITY

Primary: NIL
Collateral: NIL

PROCESSING CHARGE

0.25% of the loan amount plus GST,
- Minimum of Rs. 500.00 plus GST.
- Maximum of Rs. 1000.00 plus GST.

RATE OF INTEREST (SUBJECT TO CHANGE)

1 year MCLR+3.50 p.a. fixed Rate of Interest with monthly rests and Annual Reset.

Click here for rate of Interest

PRE-PAYMENT

No penalty on prepayment or / and foreclosure of the loan.

The post J&K Bank Cash Credit Scheme (Salaried Employees) Check Features and Benefits appeared first on Kashmir Publication.

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#Bank #Cash #Credit #Scheme #Salaried #Employees

( With inputs from : kashmirpublication.in )

February 22, 2023

Tag: Bank

Eligibility:

2) Age of the Applicant:

3) Quantum of Loan:

4) Margin:

5) Security:

6) Repayment Period:

7) Processing Charges:

NATURE OF THE FACILITY

PURPOSE

ELIGIBILITY

SCALE OF FINANCE

MARGIN

SECURITY

PROCESSING CHARGES

REPAYMENT

PREPAYMENT

RATE OF INTEREST (SUBJECT TO CHANGE)

Jammu & Kashmir Bank: Big Update Regarding JK Bank’s Mpay, e-Banking, UPI Services

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Massive earthquakes can hit these parts of India any time, warns NGRI- Details Here

NAME OF THE PRODUCT

PURPOSE

ELGIBILITY

CLASSIFICATION

NATURE OF THE FACILITY / QUANTUM / REPAYMENT

REPAYING CAPACITY

AGE OF THE APPLICANT

REPAYING CAPACITY

MARGIN

SECURITY

PROCESSING CHARGE

RATE OF INTEREST (SUBJECT TO CHANGE)

PRE-PAYMENT