Banks will have to clear local cheques in a day and outstation cheques within 14 days. Each bank branch is to display the cheque collection policy prominently on the banks' website. Failure to adhere to the schedule will mean payment of penal interest. Either the CCP specifies how much extra or it will be equivalent to those paid on fixed deposits of comparable maturity.
Remember it is very important for an investor to consider even the taxation aspect of their investment as taxes can significantly lower your returns generated by the investment. In case of FDs, banks deduct TDS before letting you withdraw the final amount at maturity.
As per the EPFO income projections, retaining 8.8 per cent rate of interest for the current fiscal would have left a deficit of Rs 383 crore. Hence, it was lowered to 8.65 per cent
HDFC Bank's customers will now be able to enjoy a complete suite of banking and commerce services over their mobile phones with the bank partnering with ngpay, a mobile solution brand from JiGrahak Mobility Solution.
Go for a term insurance if you are an unmarried individual. A simple whole life insurance would best suit a 40-plus married person with two grown up kids while the same with a term rider would be best for a married person less than 40 years with two kids!
Sensex has lost almost 1,500 points since December 31, 2014.
Stocks to watch: BHEL, L&T, IRB Infra and Suzlon
Market volatility means while the market can rise sharply, it can also go down dramatically. As a result, those who have invested their money will see the value of their investment sway sharply. Particularly new investors are affected during the market crash, when they see their investments being wiped out. Hence it is important for every smart investor to tackle market volatility intelligently.
The country's second largest private sector lender HDFC Bank on Monday slashed benchmark lending rate by 25 basis points to 15.75 per cent.
Investments need not be a fixed list of stocks and bonds. Believe it or not, it can be quite imaginative. We love to hear your views on this one.
The trend has attracted the attention of fund managers who have resumed launching products targeted at HNIs.
This is the first in a series of articles dealing with planning for children's future.
Missed out on planning your taxes systematically in the last financial year? No problem. Benefit by planning your taxes this year.
Over the past few quarters, the auto industry's sales had been badly hit due to the recession. As a result, auto companies, distributors as well as direct selling agents are doing their best now to sweeten the deal for prospective customers.
If you want to be a smart investor, you cannot view your investments solely on the basis of the returns they can generate.
Cap on bank withdrawals to be reviewed after Dec 30, says finance secy.
Investors can also consider adding to their portfolios capital protection oriented schemes
Amit Shah's net worth grew 32 per cent to Rs 37.91 crore, mainly due to 80 per cent appreciation in the market value of his securities.
Banks have taken this aggressive posture even as liquidity has become comfortable on the back of increased government spending.
Financial Planner Suresh Sadagopan chalks out a financial plan for Business Standard reader Rahul Lad.
On the face of it, capital protection schemes of mutual funds look good. But are they really what they are billed to be? Find out if you should buy
Here we discuss two tools that if used optimally can save you heavy taxes. Both when used simultaneously create such synergy in tax savings that it is really mind-boggling. Read on. . .
The Non-Resident Indians (NRIs) living in the US, UK, Canada and Singapore can now avail the benefit of a lesser tax deduction on their Non-Resident fixed deposit with ICICI Bank, a top bank official said in Mumbai. The NRO FD Plus offers the benefit of concessional rate of tax deducted at source (TDS) under the Double Taxation Avoidance Agreement (DTAA) of India with these countries, ICICI Bank General Manager and Head NRI Services Manish Mishra said.
The deposit facility for the women and girls will be for a period of two years with a rate of interest of 7.5 per cent, Sitharaman announced.
Public sector banks, in a frenzy to cash in on the retail credit boom during the three years beginning 2003-04
'If a taxpayer opts for the new tax regime once, he can only switch back to the old tax regime once in his lifetime.'
Chat with renowned financial planner Gaurav Mashruwala to get tips on how manage your finances wisely.
Senior advocate Kapil Sibal, representing Roy, said it was quite difficult to raise money as the properties have already been attached.
Do stock market falls like the recent one better times to invest money in stocks? If yes, then how should you go about investing in stocks? How long should you hold your positions if you have bought when the market was at its peak?
Only 164 companies or 42 per cent currently trade above the offer price.
Several changes were made to the new income-tax regime in Budget 2023. The old income-tax regime was not tinkered with and is still available.
In a live chat on rediff.com on Wednesday, July 16, 4 pm, Feroze Azeez, will offer some valuable suggestions on investments.
In a chat with Get Ahead readers on August 23, loan expert Harsh Roongta discussed the how and why of education loans. Here are the chat transcripts.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
Banks are offering attractive interest rates for fixed deposits. Here's some advice on FDs.
