Reserve Bank in its press release today (June 22, 2020) said that the bank has set up many digital awareness campaigns for the users of digital transactions. The initiation in this regard has been continuously and actively undertaken in the print and Audio-Visual media, including through Central Bank’s flagship programme RBI Kehta Hai, it said.…
Reserve Bank of India today placed a draft of the changes proposed to be prescribed for HFCs. These are as follows: Classifying HFCs as systemically important (asset size of ₹500 crore & above) and non-systemically important (asset size less than ₹500 crore); Reserve Bank’s directions on Liquidity Risk framework &, LCR, securitisation, etc., for NBFCs,…
Updated till December 1, 2023. The Securities and Exchange Board of India (SEBI) was established as the regulator for the Stock and Security market in India under the Securities and Exchange Board of India Act 1992. The main object of SEBI is to protect the interests of investors in securities and promote the development of…
Reserve bank of India proposes revision in definition of securitisation and lowered the stake the originating bank or non-banking finance company has to keep in the securitised asset. The Banking Regulator has placed on its website two draft documents for public comments – the ‘Draft Framework for Securitisation of Standard Assets’ and ‘the Draft Comprehensive…
Updated on June 8, 2020 In view of the extension of moratorium by another three months, i.e., up to August 31, 2020, Government has decided to continue the availability of 2% Interest Subvention and 3% Prompt repayment Incentive (PRI) to farmers for the extended period of repayment up to August 31, 2020, or date of…
The Reserve Bank of India broadcasts the setting up a Payment Infrastructure Development Fund (PIDF) of Rs 500 crore to encourage acquirers to deploy Points of Sale (PoS) infrastructure, both physical as well as digital modes in tier-3 to tier-6 centres and northeastern states. The fund has been created to provide further fillip to digitisation…
Sovereign Gold Bond Scheme 2020-21-Series III will be opened for subscription for the period from June 08, 2020 to June 12, 2020 as per RBI press release today. As per the notification, the issue price of Gold Bond will be ₹4,627/- (Rupees Four Thousand Six Hundred and Twenty Seven only) per gram of gold. The…
[The revised income tax return stipulates taxpayers to furnish details of time limit extended for tax saving investments/ donations made up to June 2020 separately.] The Central Board of Direct Taxes (CBDT) on May 30 notified revised Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 and Form ITR-V…
For FY 2020-21, Salaried individuals, who have no business income, will have to choose between the existing and new tax regimes every financial year, as per their convenience. The new income tax rates are lower compare to old tax rate. However, anyone opting for the new tax regime will have to forego most of the…
What is a Kiosk? A Kiosk is basically a small cabin or cubicle structure comparable to a telephone booth. Traditionally, we find a Kiosk where small vendors sell newspapers, refreshments, cold drinks, etc. Over the years, the concept of Kiosk is significantly changed. The modern-day Kiosks are provided with the computer and display in aesthetically…
