RBI raises Cash Reserve Ratio, But Home Loan Rates Stay
April 30, 2008 by Editor · 2 Comments
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The Reserve Bank of India (RBI) has hiked the cash reserve ratio (CRR)- the portion of deposits banks have to keep with the RBI-to squeeze money supply and arrest inflation, which has touched 7.33 percent.
The Reserve Bank of India Governor Y.V. Reddy, in the credit policy announced on Tuesday, raised the cash reserve ratio by 0.25 percent to 8.25 percent, the second hike in 12 days. Read more
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Tags: bank customers, cash reserve ratio, crr, icici, interest rates, loan, RBI, reserve bank of india
Prime Minister Rozgar Yojana
April 28, 2008 by Editor · 2 Comments
The scheme was launched on 2 October 1993 and initially was in operation in urban areas. From 1 April 1994 onwards the scheme is being implemented throughout the country. The objective of the scheme is to provide self-employment opportunities to educated unemployed youth in the age group of 18 to 35 years.
In North-Eastern states the eligible age group is from 18-40. There is a 10 year relaxation for SC/ST, ex-servicemen/ physically handicapped and women, in the upper age limit.
To be eligible for assistance under the scheme the family income of the beneficiaries shall not exceed Rs. 40000 per annum and income of parents of the beneficiaries also shall not exceed Rs. 40000. Read more
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Tags: bank, employment, loan, partnership firm, Prime Minister Rozgar Yojana, schedule cast, schedule tribes