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Tag: Scheme

  • JK Bank Loan Scheme For The Purchase of New Cars

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    To provide finance for purchase of new cars/vans/jeep/SUV/MUV, fuel operated as well as electric cars, for Private Use only at:

    “Ex-Showroom” Prices

    OR

    “On Road Prices” wherever opted by Borrower(s) shall mean Ex-Showroom Prices plus:

    • One Time Registration Charges
    • First Insurance Premium
    • Cost of Accessories (should be limited to 10% of Ex-Showroom Price).

     

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    #Bank #Loan #Scheme #Purchase #Cars

    ( With inputs from : kashmirpublication.in )

  • J$K Grameen Bank Loan Scheme for Used/Second Hand cars

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    Rubique Carloan 3 653x435 1


    PURPOSE:

    The finance under this scheme shall be available for purchase of an old car / jeep (not more than 5 years old) for personal use.

    Eligibility:

    i) Permanent employees of State/ Central Government, Semi-Government Undertakings, Autonomous bodies, Public Sector Undertakings, Private Companies or reputed establishments.
    ii) Businessmen, Professionals and self employed individuals.
    iii) Persons engaged in agriculture and allied activities.
    iv) Net annual income of Rs.1.00 lacs and above.

    Age Criteria:

     

    Salaried ClassThe applicant should be atleast 21 years old at the time of applicant and below 58 years of age at the time of maturity of the loan.
    * For Institutions, where retirement age is is 60 years, the upper age limit shall be 60 years.
    For othersAbove 21 years at the time of application but below 65 at the time of the loan’s maturity

     

    Maximum Loan Amount:

    i) 2.5 times of the net annual income or 15 lacs, whichever is lower. If married, the spouse’s income can also be considered provided the spouse guarantees the loan. Loan amount for used vehicles shall be subject to a maximum limit of 15 lacs.
    ii) The number of vehicles to be sanctioned to a single borrower under Car Finance (Used) at any point of time should not exceed more than 2 vehicles subject to maximum prescribed limit of 15.00 lacs.



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    Margin:

    i) 25% for vehicles having age less than 3 years.
    ii) 30% for vehicles having age of 3 years and above up to 5 years.

    Repayment period:

    i) Maximum repayment period of 72 months for vehicles having age less than 3 years.
    ii) Maximum repayment period of 48 months for vehicles having age of 3 years & above to 5 years.

    Security:

    i) Primary: Hypothecation of vehicle to be purchased.
    ii) Collateral: Third Party Guarantee of two persons having sound financial net means good for the loan amount.

    Processing Charges:

    0.50% of the Loan Amount

    * Conditions Apply

    Rubique Carloan 3 653x435 1

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    ( With inputs from : kashmirpublication.in )

  • JK Bank Tax Saver Term Deposit Scheme Check Benefits

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    8FE7849C B144 4498 8FF8 2D1476C6FAB6

    FEATURES & BENEFITS

    • Deposit Amount                 Rs. 1000/- and its multiples.
    • Tenure                                    5 to 10 years.
    • Options Available            Option I (TSTDS –I):   
      Here, simple interest is applied on quarterly basis as in the case of a FDR and is paid to the customer in cash or credited to his /her account every quarter.
      Option II (TSTDS –II):
      Here, discounted simple interest is paid to the customer in cash or credited to his /her account at the end of every month.
      Option III (TSTDS –III):
      Here, compound interest is paid along with the principal at the time of maturity.
    • Interest rate                        Fixed.
    • Add-ons         Income Tax benefit under section 80C of Income Tax Act 1961 subject to maximum deposit of Rs. 1.50 lac per year under all the options of Tax Saver Deposit Plan.
    • Premature withdrawal        Not allowed till 5 years.
    • Loan facility                         Not available.

    ELIGIBILITY

    • Resident assessee for himself/herself as an individual or in the capacity of the Karta of the Hindu undivided family.
    • Joint accounts in the name of two adults or in the name of an adult and a minor.
    • In case of joint accounts, the tax benefits shall be available only to the first holder.

    DOCUMENTATION

    • Application Form
    • Photograph of depositor/s (2 copies)
    • Documents as  per KYC Norms
    • PAN Card or Form 60 or 61
    • Any other related documents as applicable to Minors, HUF etc

    FAQS

    • Who can open an account under Tax Saver Deposit Scheme of J&K Bank?
      Accounts under this scheme can be opened by:
      • Resident assessee for himself/herself as an individual or in the capacity of the Karta of the Hindu undivided family.
      • Joint accounts in the name of two adults or in the name of an adult and a minor.
      •  In case of joint accounts, the tax benefits shall be available only to the first holder.
    • What is the minimum amount required for opening an account under this Scheme?You can open an account under this scheme with an amount of Rs 1000 and its multiples thereafter.
    • What are the tenures for which the accounts can be opened?
      You can open an account for any tenure ranging from 5 years to 10 years.
    • What are the various variants available under this scheme?
      You  can invest in any one or more of the following options, subject to the maximum cap of Rs 1,00,000 in a year.

      Option I (TSTDS –I):   
      Under this option, simple interest shall be applied on a quarterly basis as in the case of a FDR and shall be paid to you in cash or credited to your account every quarter during the term of the deposit.
      Option II (TSTDS –II):
      Under this option, simple interest shall be applied to the deposit and paid to you in a manner similar to that of Monthly Yield Deposit Scheme. The discounted interest shall be paid to you in cash or credited to your account at the end of every month during the term of the deposit.
      Option III (TSTDS –III):
      Under this Option, interest compounded quarterly on the deposit shall be paid along with the principal at the time of maturity .The term deposit shall carry compound rate of interest.

    • What are the value additions of this scheme?
      You can avail Income Tax benefit under section 80C of Income Tax Act 1961 under all the options of Tax Saver Deposit Plan subject to maximum aggregate deposit of Rs. 1.5 lac per year
    • Can I withdraw my deposit prematurely?
      Premature withdrawal is not allowed before 5 years from the date of opening. Subsequently, you will be allowed to withdraw money prematurely after charging of penal interest.
    • Is loan facility available under this Scheme?
      No, loan facility is not available.

    8FE7849C B144 4498 8FF8 2D1476C6FAB6

    The post JK Bank Tax Saver Term Deposit Scheme Check Benefits and Features appeared first on Kashmir Publication.

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    ( With inputs from : kashmirpublication.in )

  • Hyderabad: 1,26,858 eye tests held under Kanti Velugu scheme

    Hyderabad: 1,26,858 eye tests held under Kanti Velugu scheme

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    Hyderabad: As many as 1,26,858 people in the city limits have undergone eye examinations as part of the Telangana government’s Kanti Velugu programme. Out of that total number so far, 53,917 men and 69,814 women underwent eye examinations, said the Greater Hyderabad Municipal Corporation (GHMC)As part of the

    So far under the Kanti Velugu scheme, 44,253 have received reading glasses. These were distributed to the public. Similarly, 60,299 people were found to be free of any eye diseases, and 27,202 people were examined during the Kanti Velam program held on Wednesday, said the GHMC in a press release.

    On Wednesday alone in the GHMC area in Hyderabad, reading glasses were distributed to 9,668 people while steps were taken to distribute prescription glasses to 4,458 people, the corporation stated.

    Earlier this week, the Telangana government said that eye tests under the Kanti Velugu programme has been completed in 142 villages while it is in progress in 97 villages. The number of males who underwent eye screening was 6,22,650 while females were 2,78,421, transgenders 261, members from the Schedules Caste were 1,10,994, from the Scheduled Tribe were 53,541, Backward Class was 3,47,545 and other caste and minorities were 64,601 and 29,096 respectively until earlier this week.

    On the first day of the Kanti Velugu programme, a total of 1,60,471 people got their vision tested in 1500 camps across Telangana.

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    ( With inputs from www.siasat.com )

  • Air India offers nearly 98 crore shares to employees under stock option scheme

    Air India offers nearly 98 crore shares to employees under stock option scheme

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    Mumbai/New Delhi: Air India has offered around 98 crore shares of the company to its permanent employees as part of a stock option scheme.

    The shares are also being offered to the permanent staff of Air India Express as part of the Employees’ Share Benefit (ESB) Scheme 2022, according to a document.

    The Tata group took over the control of Air India and Air India Express from the government on January 27, 2022.

    An airline official told PTI that around 8,000 employees will benefit from the scheme.

    “In accordance with the share purchase agreement signed as part of the disinvestment process, Air India has initiated the Employee Share Benefit Scheme for eligible employees who were in service with the airline on the date of privatisation.

    “We will be working with the relevant employees to help them understand the long term benefits and avail of the same,” an Air India spokesperson said in a statement.

    Those who were permanent employees at the two carriers — Air India and Air India Express — at the time of the takeover will be eligible to participate in the scheme where the share is offered at a price of 27 paise apiece, as per the document sent to the staff.

    A source said the price is at a discount compared to the book value of 87-90 paise per share at the time of acquisition.

    An employee trust has been set up to administer the ESB scheme.

    “The company has authorised the trust to offer ESB benefits on no more than three per cent of the shares of the company purchased by Talace i.e., 97,99,56,600 to the eligible employees from time to time, in one or more tranches, acquired by the trust from Talace for nil monetary consideration.

    “The trust shall hold the ESB shares to provide the ESB benefit to the eligible employees upon the payment of the aggregate exercise price together with all applicable taxes and amounts…,” the document said.

    Talace, a subsidiary of Tata Sons, acquired Air India, Air India Express and the government’s 50 per cent stake in Air India SATS Airport Services Pvt Ltd.

    “.. any eligible employee retiring on or after January 27, 2022, will be deemed to be an eligible employee and will be entitled to the benefits in accordance with and subject to the terms of this scheme,” as per the document.

    A source at Air India Express said the airline has around 1,600 employees, majority of whom are contractual staff. It has about 300 pilots who are on permanent rolls, the source added.

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    ( With inputs from www.siasat.com )

  • Pan India Scheme: Railways install food stalls across 17 stations of Banihal-Baramulla corridor

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    Umaisar Gull Ganie

    Srinagar, Jan 21: In a bid to showcase local products and create employment opportunities for youth, the Indian Railways here have installed stalls across all 17 stations on the 135 km railway line from Banihal-Baramulla, officials said.

    A railway official told the news agency—Kashmir News Observer (KNO) that the stalls promoting local products under “One station One product” are selling food items, which are unique to the area around the railway stations.

    He said the stalls are functional in all the 17 railway stations including Banihal, Hillar Shahabad, Qazigund, Sadoora, Anantnag, Bijbahara, Panzgam, Awantipora, Kakapura, Pampore, Srinagar, Budgam, Mazhama, Pattan, Hamare, Sopore and Baramulla.

    He said they have taken this initiative to create additional employment opportunities for underprivileged sections of the society. “The objectives of the scheme are to promote local products and provide an opportunity for youth to earn their livelihood,” he said.

    Under this scheme, the Railways provides infrastructure in the form of outlets and stalls to youth for selling food products, he added.

    Pawan Sharma, a passenger from Mumbai said the stalls are very useful near the stations. “Sometimes people miss the train when they go outside to buy the food stuff. Now, people can buy food items easily in the premises of the Railway station,” he said.

    Talking to KNO, Chief Area Manager (CAM), Northern Railways, Kashmir, Saqib Yousuf said the steps have been taken under Pan India scheme. “The scheme will create employment for people and is meant for easy access to the passengers, who can buy the products inside the railway station now,” he said.

    He said though this platform, people can showcases the local products of the region—(KNO)

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    ( With inputs from : roshankashmir.net )

  • J&K Bank Announces Personal Consumption Loan Scheme – Know Details – Kashmir News

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    Jammu And Kashmir Bank Personal Consumption Loan Scheme For permanent employees of Govt, PSUs, Institutions and Autonomous Bodies of Govt maintaining salary account with J&K Bank: 42 X Monthly Gross Salary. For employees of Govt not maintaining salary account with J&K Bank: 24 X Monthly Gross Salary or Rs 15.00 lacs, whichever is lower. For employees of other reputed institutions/ Corporate Houses maintaining salary account with J&K Bank: 30 X Monthly Gross Salary or Rs 25.00 lacs, whichever is lower.

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    • Minimum: Rs. 50000.00
      Maximum: For permanent employees of Govt, PSUs, Institutions and Autonomous Bodies of Govt maintaining salary account with J&K Bank: 42 X Monthly Gross Salary
      For employees of Govt not maintaining salary account with J&K Bank: 24 X Monthly Gross Salary or Rs 15.00 lacs, whichever is lower.
      For employees of other reputed institutions/ Corporate Houses maintaining salary account with J&K Bank: 30 X Monthly Gross Salary or Rs 25.00 lacs, whichever is lower
    1. Permanent Employees of
      • Government (State/Central/ Union Territories).
      • Public Sector Undertakings,
      • Autonomous Bodies & Institutions of Government
      • Govt. Employees (J&K and Ladakh only) recruited under SRO 202 with minimum service of 18 months. Note: Employees of State Govt/Central Govt/ UT Govt, PSUs, Autonomous Bodies & Institutions of Government not maintaining salary account with J&K Bank shall also be eligible.
    2. Permanent Employees of Reputed Institutions banking with J&K Bank. Only those regular/ permanent employees shall be eligible who are maintaining their salary accounts with J&K Bank and/or will shift existing salary accounts to J&K Bank with at least one salary received in that account.
    3. Permanent Employees of Corporate Houses banking with J&K Bank. Only those regular/ permanent employees shall be eligible who are maintaining their salary accounts with J&K Bank and/or will shift existing salary accounts to J&K Bank with at least one salary received in that account provided:
      1. These corporate houses have a minimum business of Rs 5.00 crore (Advances+ Deposits) with the branch/bank.
      2. Concerned Zonal offices will identify such corporate houses and permit the respective branches under their jurisdiction to grant personal consumption Loans to their regular employees.
      3. For branches operating outside J&K and Ladakh UTs, such loans shall be granted only to those regular employees of corporate customers who are permanent residents of periphery of the branch, otherwise such loans shall be additionally guaranteed by the employer.
    • For permanent employees of Govt, PSUs, Institutions and Autonomous Bodies of Govt maintaining salary account with J&K Bank:
    • For all Others:
      • 3 rd party Guarantee of Two persons having individual net worth of at least 200% of loan amount
    • Employees maintaining salary account with the bank: MCLR 3Y+3.00%
    • Employees not maintaining salary account with the bank: MCLR 3Y+4.00%

    Click here for rate of Interest

    • The maximum repayment period shall be 120 months with the repayment commencing next month of disbursement.
    • Important to note that repayment is to be fixed in such a way that loan shall be fully adjusted by or before employee retires from active service.
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    ( With inputs from : kashmirnews.in )