rediffGURU Samkit Maniar answers readers' personal income tax queries.
Gen Z, driven by AI anxiety and economic pragmatism, have concerns about pursuing passions as careers as they fear it may not make them enough sufficient income.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
The home loan top-up, a kind of secured multipurpose personal loan, is on the regulator's radar, points out Tamal Bandyopadhyay.
In a double-dose bid to boost growth and employment prospects, the Union Cabinet on Tuesday approved a Rs 2.07 trillion outlay for a research development and innovation (RDI) Scheme to fund private sector innovations, and an employment-linked incentive (ELI) to create over 35 million new jobs over the next two years.
Losses and lack of bank funds no reason to shut company, says minister
rediffGURU T S Khurana answers readers' personal income tax queries.
Food and grocery delivery major Zomato has pulled the plug on its plan to enter the lending business. Zomato Financial Services, a wholly-owned subsidiary of Zomato, has withdrawn its application for a non-banking financial company (NBFC) licence with the Reserve Bank of India (RBI), stating that the company does not have plans to pursue lending in the future. "There is no material impact on the revenue/operations of the company and this disclosure is being made voluntarily," the Gurgaon-based company said in a regulatory filing on Tuesday.
In Kerala's society, known for its high material standard of living, plunging into a state of having nothing overnight can be terrible for one's social standing and sense of self-esteem. Rehabilitation entails piecing a community back together after a disturbance and while its aim is noble, the act of reassembling will bring alive disparities and inequalities, explains Shyam G Menon.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
A nationwide strike called by trade unions to protest against the central government's labor policies had a mixed impact across India. While normal life remained largely unaffected in most parts of the country, some sectors like banking, transport, and insurance experienced disruptions. Sporadic incidents of violence were reported in West Bengal.
IMAGES from football matches played across European Leagues on Saturday.
'Unless banks focus on the Rs 10-15 lakh loan segment, growing affordable housing will remain a challenge.'
'That way you're not hostage just to US sort of exports to India.'
'Citibank customers will migrate to the Axis Bank platform over 18 months.'
Its debit card holders can now withdraw cash from any ATM without charges till June 30.
Saurav Ghosh's step-by-step guide will help you understand what bonds are, how they help investors make money, how much money they make and which bonds to invest in.
Every 30 seconds its website is connected to an SME for a loan, every five minutes it evaluates a loan, and every 20 minutes it disburses a loan.
'Try to obtain a secured personal loan or credit card by offering some collateral, such as a fixed deposit or gold.' 'Not only will this improve your eligibility, but the lender may even offer a lower interest rate.'
Industry sources said the carrier owed over Rs 620 crore to BPCL and HPCL, besides Rs 160 crore to IOC. However, Kingfisher Airlines is not the only company with oil dues. Kingfisher Airlines, Jet Airways and state-owned Air India started this financial year with accumulated dues of Rs 4,000 crore to oil companies and airports, sources said. The three airlines are collectively projected to incur operating losses of Rs 5,000 crore, industry estimates suggest.
In a significant development, the Supreme Court on Thursday recalled its controversial May 2 verdict that had ordered liquidation of Bhushan Power & Steel Limited (BPSL) while setting aside a resolution plan of JSW Steel Limited for the ailing firm. A bench comprising Chief Justice B R Gavai and Justice Satish Chandra Sharma observed that the May 2 judgment, authored by Justice Bela M Trivedi, since retired, did not "correctly consider the legal position as has been laid down in the catena of judgments".
Towards the end of February, the Reserve Bank of India (RBI) restored the risk weighting on banks loans to non-banking financial companies (NBFCs; including to microfinance institutions, or MFIs) to 100 - back to its November 2023 position - from 125. It is only a partial relief though. "Higher risk weighting on unsecured lending continues to be in place while the same on bank funding to NBFCs has been done away with. "This is a positive step by RBI," says Rajiv Sabharwal, managing director (MD) and chief executive officer (CEO), Tata Capital.
Breaking his silence after nine years, Vijay Mallya said he may return to India if assured a fair trial.
'When we look at the quality of our retail loan book, the non-performing asset percentage is low.'
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
'Although we are facing constraints related to lending and resource mobilisation, the government is aware of these.'
The government has infused fresh equity of Rs 3,200 crore.
Thrust on infrastructure and capital expenditure is expected to continue in the Union Budget for FY25.
If the deal comes to fruition, it will make Hampshire the first county side to be owned by an overseas franchise.
The story of the Bombay Stock Exchange and the people who shaped its growth: From wars and bomb blasts to speculators, reformers and wealth creators.
Like with all great crashes, some had noticed the cracks. "... cash balances (of banks) seem, from the available indications, to be hopelessly inadequate; and it is hard to doubt that in the next bad times they will go down like ninepins. If such a catastrophe occurs, the damage inflicted on India will be far greater than the direct loss falling on the depositors," said John Maynard Keynes in his May 1913 work "Indian Currency and Finance", written before his path-breaking work in macroeconomics laid the foundation of dealing with global crises.
'Amaravati will be a game changer for Andhra Pradesh.'
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
rediffGURU Dr Ganesh Natarajan offers advice on how to build and scale your first start-up.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Why has a Reddit user's post -- where the user warns that 'even an IIM tag won't save you' -- created a storm online?
A consortium of lenders led by State Bank of India (SBI) has agreed to provide loans to Tata Group for the smooth operations of loss-making Air India. Tata Group, which won the bid to acquire the national carrier along with Air India Express and 50 per cent stake in AISATS in October last year, is expected to formally takeover the airline on Thursday. Sources said the SBI-led consortium has agreed to grant both term loans and working capital loans depending on the airline's requirements. All large lenders, including Punjab National Bank, Bank of Baroda, and Union Bank of India, are part of the consortium, they added.
'We tightened our risk frameworks once the Covid crisis started.' 'We are slowly lightening this as we see economic activity pick up, salaries getting restored, and people getting back into jobs.'
Net NPAs increased to Rs 36,260 crore in the December quarter from Rs 34,843 crore in September and Rs 33,116 crore in December 2023, observes Tamal Bandyopadhyay.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
