Pursuant to an announcement made by the Finance Minister Mrs.Nirmala Sitharaman in the Lokasabha while placing budget for the year 2020-21, the Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the Reserve Bank of India, has raised the limit of insurance cover for depositors in insured banks from the present level of…
In the budget 2020-21, a new Section 115 BAC being introduced to income tax act whereby an individual and HUF can opt to pay tax as per new tax rates in case he/she is ready to forgo all exemptions and deductions. Individuals opting to pay tax under the new lower personal income tax regime will…
RBI on Friday (January 31, 2020) advised all the scheduled commercial banks, RRBs, Co-operative banks and authorised card payment networks that henceforth they may provide cash withdrawal facility at POS terminal with the approval of their Board. Hitherto banks are required to obtain one-time permission from Reserve Bank of India for offering the above facility…
The average index number for October 2019 2019 to December 2019 works out to 7479. Therefore Bank Pensioners would get 78 slabs to increase as dearness relief for the half-year February 2020 to July 2020. The following chart shows the rate of dearness relief applicable to bank pensioners who have retired on various dates. Retired…
In the Union budget 2020-21, Finance Minister Nirmala Sitharaman rejigs in personal tax rates, sops to lift real estate, an extension of LTCG threshold and removal of dividend distribution tax and improvement in spending on infrastructure and reduction in GST with respect of automobile. Individual tax slabs rejigged Those earning up to Rs 5 lakhs…
On the basis of CPI data announced by the Labour Bureau for the period of October 2019 to December 2019, the average index number works out to 7479 (base 1960=100) or 759 slabs for the above period. It means bank officers are entitled to 759 slabs (75.90%) or enhancement of 42 slabs (4.20%) dearness allowance…
On the basis of CPI data announced by the Labour Bureau for the period of October 2019 to December 2019, the average index number works out to 7479 (base 1960=100) or 759 slabs for the above period. It means bank employees are entitled to 759 slabs (75.90%) or enhancement of 42 slabs (4.20%) dearness allowance…
On the basis of CPI data announced by the Labour Bureau for the period of October 2019 to December 2019, the average index number works out to 7479 (base 1960=100) or 759 slabs for the above period. It means bank employees are entitled to 756 slabs (75.90%) or enhancement of 42 slabs (4.20%) dearness allowance…
On the basis of CPI data announced by the Labour Bureau for the period of October 2019 to December 2019, the average index number works out to 7464 (base 1960=100) or 759 slabs for the above period. It means sub-staff of bank employees are entitled to 759 slabs (75.90%) or enhancement of 42 slabs (4.20%)…
A debt fund is a mutual fund scheme where the money is predominantly invested in fixed-income securities like government securities, debentures, corporate bonds, commercial papers, and other money-market instruments. The issuer of debt instruments pre-decides the interest rate you will receive as well as the maturity period. Hence, they are also known as ‘fixed-income’ securities.…