Finance Minister Nirmala Sitharaman has not proposed any changes in the income tax slab rates in the interim Budget 2024. However, the notable modification in the income tax slabs includes a reduction of tax slabs from 6 to 5 alongside an increase in the basic exemption limit from Rs.2.5 lakh to Rs.3 lakh from April…
A commodity market is a marketplace where investors trade several commodities like spices, energy, precious metals, and crude oil within a country. Investors can gain exposure to commodities by buying them on the market, investing in companies that produce them, or putting money into futures contracts whose value is derived from their price changes. Commodities…
A financial instrument is any asset that holds capital and may be traded on the market. Cheques, stocks, shares, bonds, futures, and options contracts are all types of financial instruments. Money Market Funds (also known as liquid funds), Bank Fixed Deposit (Bank FDs), Post Office Savings Schemes, Public Provident Funds (PPF), Company Fixed Deposits (FDs),…
A financial market is a marketplace that provides an avenue for the sale and purchase of assets such as bonds, stocks, foreign exchange, and derivatives. Stock market: The stock market trades shares of ownership of public companies. (To know more read: Stock exchange) Bond market/debt market: The bond market offers companies and the government opportunities…
The organised sector mainly includes banks, Non-Banking Financial Companies (NBFCs), and Nidhi companies, where the first two are governed by the Reserve Bank of India (RBI) and the Ministry of Corporate Affairs is responsible for the regulation of Nidhi Companies. The informal financial sector comprises partnership firms, sole proprietary concerns, individuals, and institutions like Local…
The Labour Bureau has published CPI(IW) for January 2024, February 2024 and March 2024. The average DA for the above months works out to 15.97% an increase of 0.24% in DA payable for the quarter of May 2024-July 2024. The DA charts for officers, clerks, and sub-staff are attached below : DA for Bank Officers…
CPI (IW) for Jan 2024 – 138.90 | Feb 2024 – 139.20 | March 138.90 Average 139-123.03 = 15.97% | Last quarter DA – 15.73 | Increase now 0.24% SUB STAFF BASIC New DA Previous DA Difference 19500 4075 4014 61 20165 4209 4146 63 20830 4344 4279 65 21495 4478 4411 67 22160 4613…
CPI (IW) for Jan 2024 – 138.90 | Feb 2024 – 139.20 | March 138.90Average 139-123.03 = 15.97% | Last quarter DA – 15.73 | Increase now 0.24% CLERICAL BASIC New DA Previous DA Difference 24050 4994 4919 75 25390 5265 5186 79 26730 5536 5453 83 28070 5806 5719 87 29720 6140 6048 92…
CPI (IW) for Jan 2024 – 138.90 | Feb 2024 – 139.20 | March 138.90Average 139-123.03 = 15.97% | Last quarter DA – 15.73 | Increase now 0.24% OFFICERS SCALE – STAGNATION – BASIC New DA Previous DA Difference SCALE 1 – 48480 9930 9780 149 SCALE 1 – 50480 10334 10178 155 SCALE 1…
The Reserve Bank of India (RBI) on Friday, June 7, 2024, in its Statement on Developmental and Regulatory Policies announced, that banks have the discretion to offer differential rates of interest on bulk deposits as per their requirements and Asset-Liability Management (ALM) projections. The bulk deposit limit was enhanced in the year 2019 for Scheduled…