An insurance plan or a policy can be defined as a legal contract between the insured (an individual) and the insurer (insurance company). Under the contract, you pay regular amounts of money (as premiums) to the insurer, and they pay you the sum assured in specific situations of suffering to cover the losses, against payment…
Rating symbols may vary depending on the type of debt instrument and the tenure i.e. long-term or short-term. Each rating symbol is an alpha-numeric representation of the degree of repayment risk associated with debt instruments. The following image gives you an idea about the symbols given by the CRAs. Credit rating agencies employ unique terminologies…
Credit Ratings are required to disclose the nature of their compensation arrangements and fee structure for bank loan/facility ratings on their websites. This disclosure is made under the Reserve Bank of India’s communication (dated April 26, 2013, reference no. DBOD.BP.No./5385/21.06.007/2012-13), advising accredited credit rating agencies (CRAs) to disclose the nature of their compensation arrangements and…
Finance Minister Mrs.Nirmala Sitharaman in her budget 2024-25 presentation proposed to increase the standard deduction for salaried employees from ₹50,000 to ₹75,000. Also, the deduction on family pension for pensioners is proposed to be enhanced from ₹15,000 to ₹25,000 under the new tax regime. The FM announced changes in new tax regime slabs Taxable Income…
Union Finance Minister Nirmala Sitharaman presented the Union Budget 2024 in Parliament today (July 23) at 11 am. The following announcements were made by the finance minister in presenting her historic 7th Budget with a focus on employment and skilling. PM package of five schemes of five schemes aimed at facilitating employment and skilling, with…
Ratings are based on a comprehensive evaluation of the strengths and weaknesses of the company fundamentals including financials along with an in-depth study of the industry and macroeconomic, regulatory, and political environment. Some factors that may be considered for credit rating are the Issuer Company’s operational efficiency, level of technological development, financials, competence and effectiveness…
Credit rating agencies provide an objective and unbiased evaluation of the credit risk of diverse entities, including individuals, groups, businesses, non-profit organisations, governments, and even nations. They provide transparency and consistency in assessing institutions/borrowers’ creditworthiness, making it easier for lenders and investors to make informed decisions. The main characteristics of credit rating are that these…
On return from a foreign trip, travellers must surrender unspent foreign exchange held in the form of currency notes and travellers cheques within 180 days of return. However, they are free to retain foreign exchange up to USD 2,000, in the form of foreign currency notes or Travelers Cheques (TCs) for future use or credit…
It’s also important to remember that the country you’re going to may have its own rules about how much cash you can bring in. Make sure to do your research depending on the country you’re headed to. Travellers going to any country are allowed to purchase foreign currency notes/coins only up to USD 3000 per…
The Indian Credit Rating agencies are governed by the Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999 (“the Regulations”). SEBI however recognizing the need for more stringent oversight introduced the SEBI (Credit Rating Agencies) Regulations, 2018, which replaced the earlier regulations. These updated regulations aimed to reinforce the credibility and accountability of…