Mandatory use of Savings Account for credit of maturity/premature value monthly/quarterly/yearly interest in case of MIS/SCSS/TD accounts and investments from 1st December 2017 - Addendum III

Mandatory use of Savings Account for credit of maturity/premature value monthly/quarterly/yearly interest in case of MIS/SCSS/TD accounts and investments from 1st December 2017 - Addendum III
Date extended to 01.04.2018 

Postal Savings Bank Interest Rate – 01/01/2018 to 31/03/2018 - Ready Reckoner


SB Order No.19/2017-Revision of interest rates of Small Savings Schemes

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Government launch New Savings Scheme - 7.75% Savings (Taxable) Bonds, 2018

SB Order 16/2017 : Inclusion of Aadhaar in respect of Small Savings Scheme - Addendum

Finacle Overview

The word "Finacle" is collection of two words "Finance" and "Oracle" hence the name "Finacle" originated. 

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Finacle package , for banking solution developed by Indian Technology Corporation Infosys in the year 1999 it has undergone many versions after introduction presently the version of Finacle package is 10+ 
Many Indian banks and all over the world also using Finacle package as a banking solution as it is highly flexible. Finacle core banking solution is a comprehensive,integrated,yet modular and agile business solution,addressing all the core needs of the banks,in easy to configure modules. 
Some Important Features of Finacle:- 

Finacle facilitates anywhere banking. Finacle uses Relational Database Management System(RDBMS) of Oracle. Finacle is accessed Browser Based Universal Client i.e., Internet Explorer. It used SQL @ PL/SQL for generating the MIS reports from the Central Server. As this is menu driven package,it is very much easy for navigation. It also provides the features such as Customization and Parameterization. Finacle provides multi-lingual support and multi-level security i.e, operation and database. 

Advantages of Finacle:- 

It provides a centralized server hence the name core banking. It provides multi level security i.e., Robust Security. It provides multiple channels for transactions i.e., ATM's,Internet banking,Mobile banking,Green Channels,ECS,Biometric authentication etc. Eases the operation cost. Reduces the deployment and maintenance costs hence reduces the cost. Also it also eases the operating procure for working staff.

New Interest Rates - Deposit period - KVP16 patch deployed in DOP Finacle

Image result for dop finacle
Dear Sir/Madam,
I am directed to convey the following
Patch for Change of deposit period to 118 months for KVP16 accounts from 1st JAN 2018 has been deployed.

POs may be instructed accordingly.

Thanks and Regards
Gopinath S
Inspector Posts
DMCC
Chennai 600 002

GPF Interest Rate from Jan 2018 to Mar 2018 - Department of Economic Affairs (DEA) Orders

General Provident Fund (GPF) Interest Rate from January 2018 to March 2018

Resolution – accumulations at the credit of subscribers to the GPF and other similar funds - 2017, w.e.f. 1st January, 2018 to 31st March, 2018

(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)

F.NO. 5(1)-B(PD)/2017
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
New Delhi, the 1st January, 2018
RESOLUTION

It is announced for general information that during the year 2017-2018, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.6% (Seven point six per cent) w.e.f. 1st January, 2018 to 31st March, 2018. This rate will be in force w.e.f.1st January, 2018 . The funds concerned are:
1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All India Services Provident Fund.
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services).
6. The Indian Ordnance Department Provident Fund.
7. The Indian Ordnance Factories Workmen's Provident Fund.
8. The Indian Naval Dockyard Workmen's Provident Fund.
9. The Defence Services Officers Provident Fund.
10. The Armed Forces Personnel Provident Fund.
2. Ordered that the Resolution be published in Gazette of India.

sd/-
(Anjana Vashishtha)
Deputy Secretary (Budget)

Source: www.dea.gov.in

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