The existing regulations under Foreign Exchange Management Act (FEMA), 1999, do not permit residents to trade in foreign exchange in domestic or overseas markets, RBI said in a statement. The Reserve Bank on Monday said resident Indians cannot trade in forex market as per the existing regulations. In the recent past many Indians have lost money in the Forex market through internet portals. Remittance in any form towards overseas foreign exchange trading through electronic/internet trading portals is not permitted under the FEMA. RBI cautioned investors against advertisements issued by certain electronic and internet portals offering trading or investing in foreign exchange with guaranteed high returns. Many companies even engage agents who personally contact gullible people to undertake forex trading and investment schemes and entice them with promises of disproportionate or exorbitant returns, it said. Read more at:... Read More

ZERO BALANCE CURRENT ACCOUNT From State Bank of Bikaner and Jaipur(part of state bank of india) For Online (e-Payment) of Rajasthan State VAT and CST now you can open Zero Balance Current Account in any of our Branches. No Minimum Balance Fee will be charged on Zero Balance Current Accounts. You will also get the following Online Payment facilities through our Internet Banking: • Direct and Indirect Taxes e.g. Income Tax, Central Excise, Service Tax, etc. • Fund Transfer facility and Third Party Transfer facility • Inter-Bank Transfer through SBGRPT, RTGS and NEFT • Maharashtra State VAT and CST • All other Online Payment facilities available for general Customers Other Features of the Facility: • As the facility is to encourage epayments, no Cheque Book will be issued in Zero Balance Current Accounts. • Amount can be deposited through Cheque, Cash or Online Fund Transfer in Zero Balance Current Accounts. • Option for the Account holder to convert Zero Balance A/c in... Read More

BANKERS CHEQUE PAY ORDER VIJAYA BANK CHARGES FEES Up to Rs 1,000/ Other than individuals – Rs.24.00 Individuals Other than Rural – Rs.20 Above Rs 1000/ up to Rs. 5,000/ Other than individuals – Rs.39.00 Individuals Other than Rural – Rs.34.00 Above Rs. 5,000/ up to Rs.10,000/- Other than individuals – Rs.39.00 Individuals Other than Rural – Rs.34.00 Above Rs.10,000/- up to Rs. 1 lakh Other than individuals – Re.2.50 per thousand or part thereof with a minimum of Rs.50 Individuals Other than Rural – Re.2.50 per thousand or part thereof with a minimum of Rs.40/- Above Rs. 1 lakh up to Rs.10 lakhs Other than individuals – Re.2.50 per thousand or part thereof with a minimum of Rs.250/- Individuals Other than Rural – Re.2.50 per thousand or part thereof with a minimum of Rs.250/- Above Rs.10 lakhs Other than individuals – Re.2.25 per thousand or part thereof with a maximum of Rs. 12000 Individuals Other than Rural... Read More

BANKER’S CHEQUE / PAY ORDER Up to & inclusive of Rs.1,000/- Other than Individuals – Rs.20/- Individuals Other than Rural – Rs.20/- Rural – Rs.15/- Above Rs.1000/- up to Rs.10,000/- Other than Individuals – Rs.40/- Individuals Other than Rural – Rs.40/- Rural – Rs.30/- Above Rs.10000/- up to Rs.1.00 lakh (Cash up to Rs.50,000/- only) Other than Individuals – Rs.2.50 per Rs.1000/- or part thereof with a min. of Rs.40/- Individuals Other than Rural – Rs.2.50 per Rs.1000/- or part thereof with a min. of Rs.40/-(cash up to Rs.50,000/- only) Rural – Rs.2.00 per Rs.1000/- or part thereof with a min. of Rs.30/-(cash up to Rs.50,000/- only) Above Rs. 1 Lakh (No Cash transaction) Other than Individual – Rs.2.00 per Rs.1000/- or part thereof Min. Rs.250/- Max. Rs.12000/- Individuals Other than Rural – Rs.2.00 per Rs.1000/- or part thereof Min.Rs.200/- Max. Rs.10000/- Rural – Rs.2.00 per Rs.1000/- or part thereof... Read More

SYNDICATE BANK NEFT RTGS FUND TRANSFER CHARGES FEES NEFT Inward – Nil Outward Up to Rs.1 lakh – Rs. 5/ per transaction Above Rs.1 lakh to Rs.2 lakh – Rs.15/- per transaction Above Rs.2 lakh -Rs.25/- per transaction RTGS Inward – Free Outward Rs.2 lakh to Rs.5.00 lakh – Rs. 25/ per transaction Above Rs. 5.00 lakh – Rs. 50/ per... Read More

INDIAN OVERSEAS BANK IOB TERM DEPOSIT INTEREST RATES 7 Days – 14 days (only for single deposit of Rs.1.00 lakh and above) – 4.50 15 days – 29 days – 4.50 30 days – 45 days – 6.25 46 days – 60 days – 6.25 61 days – 90 days – 6.25 91 days – 120 days – 7.250 121 days – 179 days – 7.00 180 days – 269 days – 7.25 270 days – 332 days – 7.50 333 days – 8.25 334 days – < 1 year – 7.50 1 Yr – 443 days – 9.25 444 days – 9.25 445-554 days – 9.25 555 days – 9.25 556 days -<2yrs – 9.25 2 Yrs – to 999 days – 9.25 1000 days – 9.25 1001 days – < 5 Yrs – 9.25 5 Yrs & above – 9.00 An additional interest of 0.75 % is given to resident senior citizens. This facility is not granted for investments over Rs. 25... Read More