Market benchmark Sensex jumped over 100 points in the opening session on Thursday ahead of the outcome of Reserve Bank of India’s monetary policy review amid strong cues from global markets. The 30-share BSE index was trading 125.32 points or 0.30 per cent higher at 41,267.98, and the broader NSE advanced 46.20 points, or 0.38 […]
Sensex Rises Over 100 Points In Early Trade Read More »
NEW DELHI: Taxpayers can switch back and forth between the existing income tax regime and the new one that offers lower slabs without exemptions, said Central Board of Direct Taxes (CBDT) chairman PC Mody. However, business owners won’t have this option. “Let it be very clearly noted that this is an optional scheme — there’s
Budget 2020: Individuals Can Switch Tax Regime Every Year Read More »
Soon after the Budget announcement, insurance cover on bank deposits has been increased from Rs 1 lakh to Rs 5 lakh effective Tuesday, the Reserve Bank of India (RBI) said. Deposit insurance was static at Rs 1 lakh since 1993. The cover is provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned
Good News! RBI Hikes Insurance Cover On Bank Deposits To Rs 5 Lakh Read More »
The rupee opened on a weak note and declined by 18 paise to 71.51 against the US dollar in opening trade on Monday, tracking weak opening in domestic equities and strengthening of the American currency overseas. Forex traders said weak opening in domestic equities dragged the local unit, while easing crude prices and foreign fund
Rupee Slips 18 Paise to 71.51 Against US Dollar in Early Trade Read More »
Days after the International Monetary Fund (IMF) marginally lowered its growth estimate for India to 4.8 per cent for 2019 citing stress in non-bank financial sector and weak rural income growth, its chief Kristalina Georgieva Friday said growth slowdown in India is temporary. “Growth slowdown in India is temporary and that it expects momentum to
Growth Slowdown In India Temporary, Momentum Likely To Improve: Imf Chief Read More »
As digital payment platforms thrive, Walmart-owned PhonePe has now launched its own Automated Teller Machine (ATM), a first of its kind service in India. The service launched on a pilot basis in Delhi NCR will enable people to get cash from merchant partners through transactions with their mobile devices. The company said that the service
Phonepe Launches Digital Atm, Users Can Withdraw Cash From Merchant Shops Read More »
The new information came to light on the back of a petition filed by the Internet and Mobile Association of India [IAMAI]. The IAMAI also includes some cryptocurrency exchanges, which is why they took this initiative. The central bank clarified that its 2018 circular was aimed to regulate cryptocurrency trades within the country and not
India Says Crypto Isn’t Banned But Banks Are Not Allowed To Touch It Read More »
When it comes to their savings, a majority of Indians like to play it safe. They like to park their money in banks. As of September 2019, the total deposits of scheduled commercial banks in India stood at ₹130.4 trillion. Of this ₹81.6 lakh crore, or 62.5% of the total deposits, were with public sector
Just How Safe Is Your Bank Deposit? Read More »