The Reserve Bank of India's (RBI's) decision to withdraw the incremental cash reserve ratio (I-CRR) is expected to benefit banks during the festival season. They are likely to increase deposit rates by up to 25 basis points (bps) in select maturity buckets. The rise in demand for funds to cover tax payments and meet quarter-end business targets could influence rate decisions by banks, according to bankers and money market executives.
'We may see little softness in liquidity position after the stabilisation of the government.'
The State Commission concluded the insurer could not take advantage of a typographical error on the bank's part to repudiate a legitimate claim, points out Jehangir B Gai.
The United States has said that India is committed to the Nuclear Liabilities Bill and it was up to the United Progressive Alliance government to figure out how to move forward in the wake of the Opposition's objections to some aspects of the controversial legislation.The stalled bill, whose passage in Parliament is a must, is a crucial step for the full implementation of the historic Indo-US civil nuclear deal.
The passage of the Women's Reservation Bill in the Rajya Sabha on Tuesday has not ended the problems of the United Progressive Alliance (UPA).
The Income Tax Department has notified ITR forms 1 and 4, which are filed by individuals and entities with annual total income of up to Rs 50 lakh for FY 2023-24 (AY 2024-25). Individuals, besides Hindu Undivided Families (HUFs), firms having income up to Rs 50 lakh and those having earnings from business and profession in the current fiscal (April 2023-March 2024) can start filing returns for the income earned this financial year.
The Delhi high court on Tuesday permitted the mother of a Kerala woman, who is on death row in Yemen for killing a Yemeni national, to travel to the West Asian country to negotiate about blood money with the victim's family and save her daughter from the gallows.
According to reports, AEG Live had agreed to "self-insure" Jackson's shows after most insurance companies expressed doubt whether the frail singer would be able to complete the residency.
'As these segments are growing at 25 per cent for the last three years, credit quality has been extremely good.'
According to an Andhra government statement, Naidu 'reposed confidence' in the PM's leadership.
Section 54 EC, if availed properly can bring several benefits for the taxpayer.
'Planning for the transfer of assets to the next generation is an important aspect of financial and estate planning.'
'Our unsecured loan is not exactly unsecured. It is backed by cash flow of customers.'
HDFC Bank's market capitalisation (market cap) touched Rs 13 trillion in Thursday's (December 28, 2023) intra-day trades as the largest private sector lender is set to report its sharpest monthly rally in the past two years. At 10:33 AM; HDFC Bank's market cap stood at Rs 13.03 trillion, the BSE data shows. The stock was up 1 per cent at Rs 1,717.90 in intra-day trades on December 29, inching towards its record high of Rs 1,757.80 touched on July 3, 2023.
Chairman of Parliamentary Standing Committee on Science and Technology T Subbirami Reddy on Friday voiced confidence that the report on the nuclear liability bill will be tabled in Parliament on Wednesday, despite differences among members.
The need for money among banks, especially for short-term funds, may turn more intense in the last month of the financial year to feed the demand for capital for tax payments and meet year-end targets. The mobilisation of funds via the certificate of deposits (CDs) has seen a threefold increase to over Rs 60,000 crore in the fortnight that ended February 23 from around Rs 20,000 crore in the fortnight of January 26, 2024, according to the Reserve Bank of India (RBI) data.
The Budget should use the extra RBI surplus to better effect, suggests A K Bhattacharya.
According to the Income Tax Act, there are two main benefits available for senior citizens. First, a higher exemption limit of Rs 1,95,000 for someone who has crossed 65 years. Also, there is a higher deduction of Rs 20,000 available for payment of premium for a medical or a health insurance policy.
The Reserve Bank of India has imposed caps on inter-bank liabilities from April 1, 2007, as several banks, particularly the smaller ones, have been borrowing heavily to tide over tight liquidity.
Sparking a controversy, a Congress candidate for the Jammu and Kashmir assembly elections has mentioned the marriage of his daughter as a "liability" in his affidavit submitted along with his nomination papers.
The Nuclear Liability Bill will be taken up in the Lok Sabha on Wednesday, the day Parliament will resume after a three-day recess. Government sources said that the bill, to which the Union Cabinet had on Friday approved 18 changes as per the recommendations of the Standing Committee on Science and Technology, would be brought in the Lower House. The changes included a three-fold hike in the liability from Rs 500 crore to Rs 1,500 crore.
With India's inclusion in global bond indices starting next financial year, the central government believes there will be greater scope for shifting to borrowings via long-term government securities (G-sec) from short-term instruments. This change may be factored into the FY25 interim Budget. "While this has been our focus, the inclusion of India in global bond indices gives us the opportunity to accelerate the shift towards longer tenure G-secs," an official said, requesting anonymity.
For long-term financial security, millennials must not only provide social security for their young families but also ensure that their financial burdens are not passed down to their families, says Casparus Kromhout.
The case dates back to August 2017 when the Income Tax department had carried out searches at multiple premises in Delhi as part of its alleged tax evasion probe against Shivakumar, his alleged business associate and liquor trader Sachin Narayan, another associate Sunil Kumar Sharma who operated a fleet of luxury buses, Karnataka Bhawan (Delhi) employee A Hanumanthaiah and former state government employee and caretaker posted at the Karnataka Bhawan Rajendra N.
The Prime Minister's Economic Advisory Council warned of serious fiscal risks from growing off-Budget liabilities, which are estimated at 5 per cent of gross domestic product in 2008-09. This would be much more the budgeted central government deficit of 2.5 per cent of GDP for the year.
The employers often split wages into different allowances to reduce their PF liability and also increase the take home pay of their workers.
United Kingdom-headquartered pharmaceutical giant AstraZeneca (AZ) has admitted that in 'very rare cases' its Covid vaccine can cause a blood clot related side effect but the causal link is unknown, according to court papers being quoted in the UK media.
What is in store for the Koodankulam nuclear power plants, asks S P Udayakumar.
A husband has no control over his wife's 'stridhan' (woman's property) and while he may use it during the time of his distress, he has a moral obligation to return it to his wife, the Supreme Court has reiterated while directing a man to pay Rs 25 lakh to a woman in return for her lost gold.
Replying to the debate on the Finance Bill in Lok Sabha, the minister said he did not propose any change in the tax rate but only provided few rebates which will boost spending and help the economy.
In a relief to FMCG major Dabur, two of its foreign subsidiaries, Dabur International and Dermoviva Skin Essentials, have been removed as a defendant in multiple lawsuits filed in a US court over allegations that their hair-relaxer products caused ovarian cancer, uterine cancer and other related health issues. However, lawsuits filed against its third international subsidiary Namaste Laboratories LLC, would continue before the US District Court for the Northern District of Illinois, according to a statement from Dabur on Wednesday. Dabur International and Dermoviva were removed and got relief in the multiple suits due to lack of jurisdiction as they have not either manufactured, marketed, distributed or sold hair relaxer products in the US, it added.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
Based on this settlement, the Supreme Court has disposed of the case on February 20.
One very important aspect of filing returns is the adjustment of losses. The Income Tax (I-T) Act allows taxpayers, under certain conditions, to set-off loss against income or gains, reducing the net tax liability.
Paving the way for early enactment of nuclear liability law, a Parliamentary Committee on Wednesday presented its report that addresses major concerns of the Bharatiya Janata Party as it recommended provision for "clear-cut" accountability of suppliers for any mishap involving an atomic plant.
The Bharatiya Janata Party on Thursday demanded a statement from the prime minister on media reports about the government's 'decision' to allow an American company to install a nuclear reactor diluting the provisions of Nuclear Liability Bill.
The clause 17 (b) proposes that the operator would have legal recourse if a nuclear accident results from the "willful act or gross negligence on the part of the supplier of the material, equipment or services, or of his employee."
The government refuted the charge that the Nuclear Liability Bill was being brought under foreign pressure and said it is willing to refer the measure to a Parliamentary Standing Committee for scrutiny on Thursday.
Getting the requisite numbers to pass the Civil Liability for Nuclear Damage Bill 2010 in the Lok Sabha may be the least of the United Progressive Alliance's problems. Lawyers and legal experts, including those who support the legislation, say there are many instances of poor drafting and anomalies that have the potential to generate more controversy if the Bill is passed in its current form.
There's far too much to be said against Nuclear Liability Bill
