'Of the 20 trading days of January till January 28, FIIs have been selling for 19 trading days'. 'When did FIIs withdraw money with this kind of intensity?' 'It never happened. It's the first. It did not happen even during the 2008-2009 financial crisis when Lehman went under.' 'Even then you did not have like a 19-day selling spree from the FIIs.'
The limit on withdrawal from current accounts has been enhanced to Rs 100,000 per week.
'Investors' decisions should reflect their financial goals, risk tolerance, and the amount of gold already present in their portfolio.'
The Supreme Court of India has asked DMK leader V Senthil Balaji to choose between his ministerial post in Tamil Nadu and his freedom. The court expressed concern over Balaji's reinstatement as a minister despite being granted bail in a money laundering case related to the "cash-for-job" scam. The court fears that Balaji's presence as a minister could influence witnesses in the case. The court has given Balaji until April 28 to make a decision.
The RBI notification said there is no change in weekly withdrawal limits and such disbursals should predominantly be in the denomination of Rs 500
'The current crisis is a result of a clash between a coercive attempt by the government to justify demonetisation and rising digital transactions against the market and the economy fighting the unexpected pressure from atop.'
'Presumption of innocence must guide all formal actions, but transparency must not be mistaken for pre-judgment.' 'The cruel irony, however, is that Justice Varma is a fine judge who enjoys a reputation for writing well-reasoned judgments.'
The finance ministry is likely to tone down some of the provisions of Fringe Benefit Tax and moderate the conditionalities for Banking Cash Transaction Tax proposed in the Budget.
Now, more than 60 per cent of depositors of the bank will be able to withdraw their entire account balance.
The currency in circulation (CIC) declined in the first half of this financial year and this is the first time this has happened in H1 in at least 10 years. The CIC on March 31, 2023, was Rs 33.78 trillion, which fell to Rs 33.01 trillion on September 22 -- a difference of about Rs 76,658 crore. In the first half of the last two financial years, the CIC went up by Rs 33,357 crore in FY23 and Rs 84,978 crore in FY22.
'With a very stable technology with limited functionalities, a large network has spanned out.'
This is the fifth increase in withdrawal limit since the bank was placed under its direct control with an administrator on September 23. Since then as many as nine depositors have lost their lives including a 74-year-old man from Thane on Monday.
Investors looking for a fixed-income product that is free of credit risk may invest in these bonds.
Former Union Law Minister Ashwani Kumar has argued for replacing the existing collegium system for judicial appointments, asserting that public sentiment leans toward an alternative mechanism, potentially resembling the National Judicial Appointments Commission (NJAC). He believes that the government has the authority to propose a revised constitutional amendment for judicial appointments that would withstand judicial scrutiny. Kumar also urged the Supreme Court to establish a robust internal process to address concerns within the judiciary, including allegations against judges.
Finance Minister P Chidambaram may hike limit on withdrawal of cash for tax; correct Fringe Benefit Tax anomaly.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
The injured troopers of 50 RR were immediately evacuated to the local hospital at Pampore where one soldier succumbed while the other was referred by attending doctors to the army base hospital in Srinagar for specialised treatment. The two RR jawans were part of a road opening party," the officer said.
Banks have reported that banknotes worth Rs 592,613 crore have been issued to the public.
A man was in for a pleasant surprise when he tried to withdraw Rs 500 from an ATM, but got five currency notes of Rs 500 denomination from the cash dispenser in Maharashtra's Nagpur district.
Systematic Withdrawal Plan, or SWP, can help you achieve your financial goals. Ramalingam Kalirajan's step-by-step guide on how to effectively use an SWP.
At Rs 30.88 lakh crore, the currency with the public is 71.84 per cent higher than the level for the fortnight ended November 4, 2016.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Despite the demonetisation of 2016 and the rise in digital transactions that followed, the economy's dependence on cash has remained as high as ever. So when the Reserve Bank of India (RBI) introduced a pilot project of its version of digital cash - called the central bank digital currency (CBDC) - on December 1, many questions were asked. Can the CBDC replace physical cash, even partially? Can it match cash in terms of convenience? Are CBDC transactions truly anonymous?
Do you have parents who have turned 60? You may want to forward Sarbajeet K Sen's suggestions to them.
IMF said the repercussions from India's currency exchange initiative will likely persist through the first quarter of 2017.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
'The impact of CBDC on deposits and deposit insurance is largely unknown.'
For the cooperation ministry, the government made a total budget outlay of Rs 1,150.38 crore for 2023-24, lower than the revised estimate of Rs 1,624.74 crore for 2022-23.
A bench headed by Chief Justice of India Ranjan Gogoi said, "We are not inclined to entertain this petition under Article 32 (writ jurisdiction). Petitioner can approach the high court concerned for appropriate relief."
'The RBI is not releasing Rs 2,000 notes for the last 10 days; probably they have stopped printing it.'
rediffGURU T S Khurana answers readers' personal income tax queries.
When investing in fixed-income products, balancing considerations like safety, liquidity, and income is essential.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Jewellers in India, the world's second largest gold consuming country after China, have started receiving more inquiries for purchase of gold or silver immediately after the Reserve Bank's announcement to withdraw Rs 2,000 notes from circulation. However, there is no panic buying of the precious metal unlike the situation witnessed in 2016 during demonetisation, jewellers body GJC said on Sunday. In fact in the last two days, the actual gold purchase has been less in exchange of Rs 2,000 notes due to strict Know your Customer (KYC) norms although sources said some jewellers have started charging a 5-10 per cent premium, taking the gold prices to Rs 66,000 per 10 grams level.
The cap of Rs 10,000 on daily withdrawal has also been removed.
Following are the highlights of the RBI's first monetary policy statement of 2022-23 unveiled by Governor Shaktikanta Das: Policy repo rate unchanged at 4%; marginal standing facility rate & bank rate too remain unchanged at 4.25%. Monetary stance to be accommodative with focus on withdrawal of accommodation to keep inflation within target. GDP growth projection for FY'23 slashed to 7.2% from 7.8%; growth projections based on assumption of crude oil (Indian basket) price at $100 a barrel during FY'23. Inflation forecast hiked to 5.7% for FY'23 from 4.5%.
When the subscriber reaches superannuation or the age of 60, 60 per cent of the total corpus accumulated in NPS can be withdrawn as a lump sum.
FM Arun Jaitley says I-T dept's capacity to access information and apply technology driven analytical tools to expose evasion has been enhanced
The chaos and fear created by the deadly protests remained. Gangs of criminals have been looting and robbing homes in the absence of law enforcers over the last two days.
