'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
South leads; North-East at bottom but moves ahead, finds out the IndiaSpend Team
In the new year be careful online as there are many scamsters lurking in the cloud, warns A Ganesh Nadar after twice escaping being scammed.
The Paytm Payments Bank will be headquartered in Noida and kick off its services from east and north to begin with
The government on Wednesday said that all urban cooperative banks and multi-state cooperative banks will come under the supervision of the Reserve Bank of India, a development aimed at providing comfort to depositors and prevent repeat of PMC Bank like scams. The President of India will promulgate an ordinance to this effect, Information and Broadcasting Minister Prakash Javadekar told reporters after the meeting of the Union Cabinet.
The wise pay their taxes on time and plan for it before time. That does not mean one has to necessarily go through the big fat books on taxes! Knowing a couple of hacks for saving tax can have it sorted for you.
Salary account holders could see their interest income rise by up to 25 per cent on the back of a new RBI rule from this month, under which banks will compute 3.5 per cent savings interest on daily basis instead of taking the lowest deposit during a month, Crisil Ratings said.
'We do not know when we will get to the business-as-usual mode.' 'Many borrowers may not be able to pay up.' 'The incidence of cheque bouncing has doubled or even trebled, some lenders say,' says Tamal Bandyopadhyay.
'It is crucial to understand that the ultimate goal of your investments isn't to pay lesser tax, but to create long-term wealth for you and your family,' says Satyen Kothari, founder and CEO, Cube Wealth.
Reserve Bank of India (RBI) Governor Shaktikanta Das had stumped the market in the previous two policies - in August and in October - first with action and then with words. In August, it was the introduction of an incremental cash reserve ratio (I-CRR) to take out excess liquidity, which took the markets by surprise. In October, there was no action. Rather, what is known as "open mouth operation", Das' comment that the central bank might conduct open market operations (OMOs) by selling bonds tempered the euphoria in the bond markets after JP Morgan's inclusion of India in its Emerging Market Bond Index.
'Many non-resident taxpayers faced issues in filing Form 10F since the portal didn't allow those who didn't have PAN to file the form.'
Its debit card holders can now withdraw cash from any ATM without charges till June 30.
'Investors with higher risk appetite and longer horizon (more than one year) can invest in longer-duration funds like corporate bond funds, long-duration funds and gilt funds for maximum gain.'
While the overall loan disbursements stood strong at 15 per cent YoY in Q2, pockets such as vehicle finance, loans to NBFCs, and business banking showed some weakness. A continued fall in these numbers may make it tough for AU SFB to defend its valuations under the current circumstances.
The Supreme Court's decision to allow borrowers a chance to be heard before their accounts are flagged as fraudulent by lenders is expected to result in several cases being reopened where the borrower is aggrieved because of such classification, bankers said. Still, the reopening of cases would not be automatic. A borrower who is aggrieved by the 'fraud' classification will have to approach the bank and consequently, the bank will take the necessary steps so that the apex court's order is followed in letter and spirit, they said.
It was merely an obligation in the past, but financial inclusion has now turned into a big business opportunity for private banks.
Wedding.con is a watchable show, if only to caution people about the latest scams, notes Deepa Gahlot.
There are perks for banking with the newest bank in India.
Modi also asserted that if democracy is most strong, vibrant and lively anywhere in the world, it is in India.
Do you have parents who have turned 60? You may want to forward Sarbajeet K Sen's suggestions to them.
Details of identity and residence will not be required for exchange of notes between April 1 and June 30.
Frankly, there is no reason not to open a PPF account and start investing in PPF
'It makes sense to have gold in one's portfolio keeping the political and economic risks of 2024 in mind.'
Most public sector banks, flush with deposits now, offer 3-4% interest on savings deposits, while a few private sector banks go up to 6%.
Punjab National Bank has the largest share.
The Reserve Bank (RBI) resisted a 'raid' planned by some in the government to extract Rs 2-3 lakh crore from its balance sheet in 2018 to meet populist spending in run-up to general elections, Viral Acharya, who was deputy governor at RBI at that time, has written.
He said trust and confidence were the backbone of any financial system and one should never underestimate the power of ethics and values.
'Sweden claimed inability to track the payments through Swiss bank accounts after making a half-hearted request for Swiss assistance,' it said.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
The law minister last month told the assembly that of the lord's total Rs 626.44 crore, Rs 592 crore was kept in Yes Bank. While Rs 545 crore was in the bank as fixed deposits, the remaining Rs 47 crore was in a flexi account.
India's mutual fund (MF) industry had barely any retail footprint when it completed 50 years in 2013. MFs had Rs 7 trillion in assets under management (AUM) in March 2013, of which around Rs 5 trillion was in institution-focused debt funds. By comparison, bank deposits in the country stood at Rs 67.5 trillion around the same time.
'Those who feared that I would have run one hell of a campaign targeting the most powerful people in India snatched away my democratic right from me.' 'I will expose these democracy-killers.'
Private lender Tamilnad Mercantile Bank's (TMB) is planning an Initial Public Offering ( IPO) of about Rs 1,000 crore by November-December 2021. The IPO will involve combination of fresh capital plus sale of existing shares. The shareholders of the unlisted South-based private bank have already given nod for IPO.
The fairy tale turnaround story has, however, taken a few knocks after a second wave of the pandemic has brought a series of default notices and has posed the toughest test for the 55-year old Singh to save the airline he founded and sold to the Marans only to assume control later.
The RBI was not party to the decision to demonetize 500 and 1,000-rupee notes, which was taken at the highest level of India's political leadership.
Journalist Rana Ayyub rejected allegations on Friday that she "misused" donor funds raised in the wake of the Covid-19 pandemic, saying money-laundering charges levelled against her are "preposterous and wholly mala fide".
Loan rates will change at the next reset, while deposit rates will continue till maturity.
Digibank will offer only savings deposits initially, but will expand to include investments and lending in the coming months.
Investors looking for a fixed-income product that is free of credit risk may invest in these bonds.
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