The Reserve Bank of India today announced that State Bank of India, HDFC Bank, and ICICI Bank will remain as Domestic Systemically Important Banks (D-SIBs) and therefore will have to maintain additional common equity tier 1 (CET1) capital ratios in the same manner prescribed in 2020. SIBs are considered as banks that are ‘too big…
Capital conservation buffer (CCB) is a concept introduced under the international Basel III norms. According to Basel III norms, during good times, banks must build up a capital buffer that can be drawn from when there is stress. Individual countries are allowed to take their own decision in this matter. In India, to adhere to…
The government has decided to keep the interest rates for small savings schemes unchanged for January 2022 to March 2022 quarter, the seventh in a row. The last revision in small savings rates was for April-June 2020. This was announced by the finance ministry via a circular dated 31, December 2021. Thus, the interest in…
You can file your belated IT Returns anytime on or before 1 year from the end of the relevant Assessment Year (AY). However, if you file your ITR after the deadline, you have to pay a late filing fee of up to Rs.5000. There is a relief given to small taxpayers — the IT department…
Edited on 27.12.2021 Amortization refers to the process of paying off debt over time in regular equal payment consisting of interest and principal loan amount sufficient to repay the loan in full by its maturity date. Amortization also refers to the spreading out of capital expenses (similar to depreciation) related to intangible assets over a…
The Reserve Bank of India (RBI) on Thursday extended the deadline to comply with new card storage rules by another six months till 30th June 2022, following requests from industry bodies and other stakeholders. “In light of various representations received in this regard, we advise…the timeline for storing of a card on file (CoF) data…
Generally, you can seek a first-time home loan for buying a house or a flat, renovation, extension, and repairs to your existing house. You can own more than one house and borrow home loans for that purpose. However, it depends directly on your income and your repayment capacity of paying off the debt simultaneously for…
EMI stands for Equated Monthly Installment for the loan you avail of from your bank. The EMI consists of the principal portion of the loan amount and the interest. The installment amount is fixed on your loan depending upon the loan amount, tenure of the loan, and rate of interest. The higher the interest rate…
The holidays declared under NI Act is applicable exclusively to the banks located within the administration area of a specific State or Union Territory. In other States and Union territories where it is not a holiday, banks remain open and allow normal banking transactions similar to any other working day. SOUTHERN INDIA Click the name…
The holiday declared under NI Act is applicable exclusively to the banks located within the administration area of specific State and Union Territory. In other States and Union territories where it is not a holiday, banks remain open and allow normal banking transactions similar to any other working day. Click the name of the State…