CGTMSE modifies Rules on Third Party Guarantee, Check important points for Bank Loan The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) has issued a new circular modifying the definition of “Third Party Guarantee” (TPG) under its Credit Guarantee Schemes for bank loans. What Is the Change? CGTMSE has reviewed the existing definition…
The Bharatiya Mazdoor Sangh (BMS) has announced that it will observe 25 February 2026 as “Protest Day” across the country. The decision was taken after the 21st All India Conference held in Puri, Odisha. On this day, BMS units across India will organise dharnas and demonstrations at all district headquarters. The aim is to put…
The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) has issued a new circular extending the guarantee expiry period for term loan accounts. The decision has been taken to ensure that loan accounts remain eligible for guarantee claims when they turn Non-Performing Assets (NPA). Why Was This Decision Taken? As per existing rules,…
New India Co-operative Bank Ltd., Mumbai has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934. But Why? Let’s understand. RBI letter removing New India Co-operative Bank Mumbai from 2nd Schedule New India Cooperative Bank Limited (also known as NICB) is a Mumbai-based cooperative bank, incorporated on 6 December 1967. Since February 2025,…
The Office of the Deputy Chief Labour Commissioner (Central), Kanpur, under the Ministry of Labour & Employment, Government of India, has sent a prosecution proposal against ICICI Bank’s Managing Director and CEO, Shri Sandeep Bakshi. The proposal has been sent under Section 25-U of the Industrial Disputes Act, 1947. Who Sent the Letter? The letter…
The High Court of Judicature at Allahabad, Lucknow Bench, presided over by Justice Shree Prakash Singh, set aside a one-line order issued by Punjab National Bank. The bank had rejected the request of a deceased employee’s son for compassionate appointment. The Court sent the matter back to the bank for fresh consideration within eight weeks….
HDFC Bank Female Staff dies after being hit by speeding bike in Bengaluru A 26-year-old woman working in HDFC Bank was killed after being hit by a speeding motorcycle in Bengaluru’s Rajajinagar on Tuesday afternoon. The accident occurred around 12:45 pm in front of the HDFC Home Loan office. The victim, Yogeshwari, an employee of…
Did You Know? The Supreme Court of India cancelled the nationalisation of Banks in 1969. Yes, you heard it right. In this article, we will have a look at the Supreme Court case. On February 10, 1970, the Supreme Court of India struck down the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1969, which had…
Gold Jewellery missing from Punjab National Bank branch in Delhi, Customers protest at Bank PNB New Delhi: Gold jewellery has been allegedly found missing from a bank locker at a Punjab National Bank branch in West Delhi’s Kirti Nagar area. Bank Customers gathered at the branch, following which a case has been registered and a…
The Kerala High Court has recently clarified that the “either or survivor” clause in a joint bank locker agreement does not confer ownership rights over its contents. This clause ordinarily allows the surviving holder to operate the locker after the death of other person. “The concept of the entitlement of one of the joint holders…