Online fraudsters are using innovative methods to wipe out your bank balance. Be aware of such frauds to protect yourself from fraudsters. In the current reporting RBI has reported a dramatic spike in the value of bank frauds for the financial year 2024-25. A total of 23953 fraud cases amounting to Rs.36014 crore were recorded…
The Reserve Bank of India made available an illustrative list of Early Warning Signals (EWS) which should alert bank officials about wrongdoings and frauds in loan accounts. In the background of increasing incidences of frauds in general and in loan portfolios in particular, the Reserve Bank of India brought into force the systemized framework for…
The Government of India, under the Jan Suraksha initiative, has introduced several social security schemes aimed at enhancing financial inclusion and providing affordable insurance and pension benefits, particularly to the economically weaker sections and the unorganised sector. Indian banks actively facilitate the implementation of these schemes by partnering with insurance providers and pension fund authorities.…
IntroductionEstate planning involves the strategic organization and management of an individual’s assets to ensure an orderly transfer upon their incapacitation or death. The primary objectives of estate planning include preserving wealth, minimizing tax liabilities for beneficiaries, and facilitating the seamless distribution of assets. Key tax considerations in estate planning include capital gains tax and income…
Introduction The Indian income tax system follows a progressive slab-based structure, applicable to both individuals and non-individual entities. Under this framework, taxpayers are categorized into income brackets or “slabs,” with each slab attracting a specified tax rate. Higher income levels are taxed at proportionately higher rates to ensure equity in the tax burden. This article…
