Counterfeit money has taken a toll in India and many other nations globally. According to RBI, a total of 4,35,607 fake currencies were detected in 2010-11, mostly in form of Rs. 500 and Rs. 1000 denominations. A livemint report of 2011 states that four in every thousand currency notes in India are fake. India’s National Investigation [...]
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To honor Financial Literacy Month in April 2012, Visa released a survey of international financial literacy that tallied answers from more than 25,000 participants in 28 countries. Respondents were asked five questions relating to money management, and received an overall score based on a 0 to 100 scale. The survey revealed that Brazil topped the [...]
SLR (Statutory Liquidity Ratio) is the amount a commercial bank needs to maintain in the form of cash, or gold or govt. approved securities (Bonds) before providing credit to its customers. SLR rate is determined and maintained by the RBI (Reserve Bank of India) in order to control the expansion of bank credit. How is [...]
If you book a Nano, and unfortunately not selected in the draw, do not despair as your booking amount will fetch you better returns than even a fixed deposit. With RBI’s recent reverse repo and repo rate cuts, banks have started slashing deposit rates, with fixed deposits now fetching lesser interest rates as against what [...]
The value of money is really going down as RBI now introduces new Rs 10 coin. The coins which are currently in India are of 25 paise, 50 paise, 1,2 and 5 rupees. And now here is Rs 10 coin. This coin is a Bi-metallic coin .Outer circular part of coin is made up of [...]
Will home loan interest rates come down? To counter the worsening liquidity situation of banking institutions, the Reserve Bank of India (RBI) cut the key rates including cash reserve ratio (CRR), reverse repo rate and repo rate over the last few months. New borrowers can get as low as an eight percent rate with certain [...]
