All eyes will be on whether Sitharaman provides the much-expected tax relief for the middle class, leaving more money in their hands, as there is tax buoyancy
Investors who issued units in liquid and overnight funds, as well as those with a short-term holding of less than 30 days, are likely to be impacted the most, say experts.
'When I called the HR department, they abused me.'
All political parties put together received more than Rs 12,000 crore till last fiscal since the introduction of the now-annulled electoral bond scheme in 2018, of which the ruling BJP got nearly 55 per cent or Rs 6,565 crore, according to the data available with Election Commission and Association for Democratic Reforms (ADR).
Break the chains of debt, invest in your future, and wave the flag of financial independence high. Freedom awaits, comrades. Let's conquer this battlefield together this Republic day, exhorts Vatsal Ramaiya.
Statements of five 'Angadiya' firm operators have also been recorded by the ED to establish the "money trail" of this alleged Rs 45 crore bribe amount.
When a strong executive decides it wants something, even something that is dangerous and unconstitutional, there is little resistance from within to stop it, notes Aakar Patel.
Although net inflows into equity mutual funds deteriorated month-on-month (M-o-M) in March 2024 to Rs 22,576 crore (excluding Hybrid), down 15 per cent M-o-M (up 12 per cent Y-o-Y), asset management companies (AMCs) had a great year with robust growth in assets under management (AUMs). AMCs are likely to report strong PAT growth (30-40 per cent Y-o-Y) in Q4FY24 on the back of AUM growth. In Q4FY24, domestic mutual fund (MF) industry's quarterly average AUM grew by 34 per cent Y-o-Y and 10 per cent quarter-on-quarter (Q-o-Q) to Rs 54 trillion ($652 billion).
Under the Vivad se Vishwas scheme, the MNCs will have to bring in disputed amount to India, else, the entire money will be considered as loan from subsidiaries on which interest will have to be paid.
The expectations of a borrowing cut by the government faded among bond-market participants after the general election results because they feel the compulsions of running a coalition may put pressure on the exchequer, according to dealers. The recent trend of moderate depreciation in the rupee's nominal effective exchange rate (NEER) might not persist if there are significant changes to the structural reform agenda.
National Conference (NC) president Farooq Abdullah did not appear before the Enforcement Directorate (ED) on Thursday for questioning in a money laundering case, official sources said.
The Madhya Pradesh Police have arrested the father of former Indian cricketer Naman Ojha in connection with a case of alleged embezzlement of funds in Betul district in 2013.
The windfall from RBI may be used to trim borrowing, help fund Rs 3.3 lakh crore capex plan, capitalise banks and provide fiscal stimulus to some stressed sectors, experts and economists said.
Maharashtra Deputy Chief Minister Ajit Pawar, who heads the Nationalist Congress Party, has said that helming the NCP away from the shadows of his uncle and founder Sharad Pawar after the split is a huge responsibility.
With even kiranas now entitled to perform a few banking functions, telcos can be allowed to transfer funds - customers trust them enough to pay crores of rupees in pre-paid revenues.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) will answer your personal finance-related questions.
The ECI data covers 20,421 bonds worth Rs 12,769 crore. The ADR data, however, collated information on 27,811 bonds worth Rs 16,492 crore. The gap is nearly Rs 4,000 crore and involves over 7,000 bonds.
It also opposed the suggestion that the contributions be transferred to the National Disaster Response Fund.
Maulana Kaleem Siddiqui was arrested by the ATS, which is probing the racket, at around 9 pm on Tuesday from Meerut, Additional Director General (ADG), Law and Order, Prashant Kumar said.
Employees covered under private PF trusts, which manage retirement fund of their workers themselves, will be able to transfer their PF accounts online from next month.
The bench did not agree to the contention of the lawyer that the fund has been created without following the schemes enumerated under Articles 266 and 267 (which deal with the contingency and the Consolidated Funds of India) of the Constitution.
The fundamental issue between banks and fintech would be who will own the customer and who will be the service provider.
At present this facility is available to workers of (un-exempted) firms which do not have their PF trusts and manage their employees' accounts with their respective regional fund commissioners of the EPFO. It was launched in October last year.
The Election Commission of India (ECI) directed the removal of West Bengal DGP Rajeev Kumar and mandated the appointment of Vivek Sahay, once suspended by the poll panel, as the new state police chief, with the TMC accusing the BJP of controlling the constitutional body.
A mobile wallet may offer discounts but allows transactions of limited amounts. And, while a bank app or internet account allows larger transactions, it might be less convenient
The filing of online provident fund accounts transfer claims on changing jobs for subscribers of the retirement fund body EPFO has become a reality now.
The supplementary demands for grants include a gross additional spending of over Rs 2 lakh crore, which would be matched by savings of over Rs 1.21 lakh crore.
The EOW conducted searches at the house of PC Singh, the bishop of the Church of North India Jabalpur Diocese, on Thursday morning following registration of a case of cheating against him.
The federal agency had arrested 46-year-old Kavitha, the daughter of former Telangana chief minister K Chandrashekar Rao, from her Banjara hills residence in Hyderabad on March 15.
Suppose you have transferred money to your trading account but did not use it to buy securities, the broker could misuse this money, warns Sanjay Kumar Singh.
Food delivery major Swiggy has received approval from its shareholders for a $1.25 billion initial public offering (IPO), according to filings made with the Registrar of Companies sourced by Tofler. The Bengaluru-based firm plans to raise as much as Rs 3,750 crore (around $450 million) via a fresh issue and up to Rs 6,664 crore (around $800 million) through an offer-for-sale (OFS) component, the filings stated.
Sources said the rural development ministry has sought an additional Rs 20,000 crore for MGNREGA for 2019-20 over and above the budgeted Rs 60,000 crore for 2019-20. Though, all of the PM-KISAN savings may not be transferred to fund MNGREGA's extra needs, sources said a part of this could be transferred.
The Union government is projected to share about 32 per cent of central taxes with states during the financial year 2024-25 against the 15th Finance Commission's recommendation of 41 per cent. The Revised Estimates (RE) for FY24, too, show a similar share of states in the central taxes at 32 per cent. In absolute terms, however, there has been an increase in the amount devolved to states compared to the Budget Estimates (BE) for FY24 at Rs 11 trillion.
'Everyone is unhappy with the lieutenant governor's administration, which is ignorant, high-handed, and inaccessible.'
The Reserve Bank of India (RBI) on Friday kept key repo rate unchanged at 4 per cent in view of rising inflation and faint signs of economic growth amid gradual lifting of coronavirus (COVID-19) lockdown. The central bank's newly-constituted monetary policy committee (MPC) began its three-day meeting on October 7 and maintained the stance as accommodative. It also kept the reverse repo rate unchanged at 3.35 per cent.
The organised sector workers covered under private PF trusts, which manage their employees' retirement fund themselves, will be able to transfer their PF accounts online from July this year.
Debt mutual funds are likely to be stripped of the long-term tax benefit if they invest less than 35 per cent of their assets in equities. Such mutual funds will attract short term capital gains tax. The government is likely to make such a proposal in the form of an amendment to the Finance Bill 2023 in the Parliament, sources said.
Over 50 million subscribers of the retirement fund body EPFO will be able to apply online for transfer and withdrawal of their provident fund from July 1, a move aimed at speedy settlement of claims.
Insurance sector regulator IRDAI has given conditional approval to Hinduja Group firm IndusInd International Holdings Ltd (IIHL) for the takeover of debt-ridden Reliance Capital. "We are happy to acknowledge the receipt of approval from IRDAI yesterday (May 10, 2024) on the auspicious occasion of Akshay Tritiya. "The approval is subject to certain 'regulatory, statutory, and judicial' clearances/compliances," an IIHL spokesperson said in a statement.
The IMPS platform has 28 banks under it and account holders of any of these banks can use the newly launched service, Sharma said, adding that there will be no charges for either sending or receiving the money.
