'Midcap and smallcap indices are trading in the expensive zone.'
Adopted after nearly two weeks of hectic negotiations, the first Global Stocktake deal, being termed the UAE consensus, urges countries to accelerate efforts toward the phase-down of unabated coal power, which is a climb down after India and China strongly resisted the singling out of coal.
rediffGURU Sunil Lala answers your MF-related queries.
Assuming the private bank issues 20 billion shares at Rs 10 apiece (with face value of Rs 2 each), the total capital raise will be Rs 20,000 crore. And for the 49 per cent stake, SBI will need to put in about Rs 10,000 crore.
The decision assumes significance in the wake of a scam in the PMC Bank affecting lakhs of customers who are facing difficulties in withdrawing their money due to restrictions imposed by the Reserve Bank of India.
The calculation is based on annual usage of eight cylinders per household.
Even so, the PM's cash in hand is among the lowest when compared with his Cabinet colleagues
The awarding of in-principle licences for 10 small finance banks is likely to be a game changer in a way which may not be adequately realised right now.
Missing the deadline for filing Income Tax returns can lead to consequences.
Savings in deposits by the households rose, however, to Rs 1 trillion (17 per cent) in the year to Rs 6.91 trillion in FY14 as against Rs 5.91 trillion in 2012-13.
Paying for facilities like issuance of demand drafts, cheque books, credit or debit cards and ATM interchange may soon become passe as public sector lender IDBI Bank on Wednesday waived-off all service charges on current and savings accounts (CASA), the first by any bank.
There are about 15.3 crore LPG consumers in the country.
'The reason is that you may not enter the branch but you want to see it near you as it establishes trust.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
The charges would apply to savings as well as salary accounts
Firms that have a turnover of under Rs 1 cr can pay tax without maintaining books.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Close on the heels of one per cent cut in interest rate on small savings scheme and PPF in the Union Budget, the Reserve Bank of India announced on Friday a 0.5 per cent reduction in interest rate on savings account to 3.5 per cent effective Saturday
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
The Postal Department has geo-tagged more than 1,50,000 post offices on geo-portal Bhuvan, developed by ISRO
'When we say we want to increase pension participation, do we want to increase participation through the savings route?' 'Or do we want people to save in specific pension products?' asks Renuka Sane.
The returns from liquid funds, currently, look better than what savings accounts of leading banks are offering, points out Sarbajeet K Sen.
The early bird results for the January-March quarter of 2022-23 (Q4FY23) show a pick-up in earnings growth, despite a slowdown in revenue growth, thanks to a decline in input costs and lower provisioning for bad loans by banks. The combined net profit of 66 companies that have, so far, declared their quarterly results was up 15.2 per cent year-on-year (YoY) in Q4FY23, an improvement from 4.3 per cent YoY growth in Q3. Net sales growth of these companies, however, slowed down to 11.5 per cent YoY in January-March 2023, the slowest rate in eight quarters.
Senior citizens should avoid putting their entire retirement corpus in SCSS.
It is strange that the wealthy evade taxes even though the marginal utility of the money saved amounts to little and tax rates in countries, including India, have dropped
Tamal Bandyopadhyay details HDFC Bank's digital journey.
Govt expects to save Rs 10,000 crore through this move.
If you switch jobs midway through the year and do not declare the earlier deductions to your new employer, he will use the same calculation to compute your tax liability.
The perils mentioned here may seem few in number, but each of it encompasses an entire set of dangers posed by the free online tax filing offers.
"You can download mobile applications provided by banks on your phones and I want to urge political leaders, teachers, youth to give training to people on mobile banking," Modi said.
the three investors that have submitted their final bids are not commercial banks. Among the three, one is a non-banking financial company. Another distinctive feature of the revival is that PMC may lose its cooperative bank characteristic after its reconstruction.
While India won't be immune to global spillovers, we need to create the macro preconditions for sustained growth. Policy agility, prudence, and resilience will be key, suggests Sonal Varma.
The argument that India is going towards a 'Hindu rate of growth' is "ill-conceived, biased and pre-mature" when weighed against the respective data on savings and investments, said SBI Research in its Ecowrap report. The term Hindu rate of growth was coined by economist Raj Krishna in 1978, which denoted the economic growth of about 3.5-4.0 per cent in terms of GDP during 1947-1980. "India's quarterly sequential Y-o-Y GDP growth has been in a declining trend in FY23.
Post your financial planning queries for rediffGURU and financial planning expert, Colonel Sanjeev Govila.
"If the money is legitimate which had been previously withdrawn from bank or earned legally and saved and had been disclosed, there is nothing to worry about," Jaitley said.
New filers reported an average income, in many cases, close to the income tax threshold of Rs 250,000, limiting the early revenue impact.
At times, banks violate all banking norms, resulting in a customer's accounts wiped clean through illegal ATM withdrawals.
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