Union Budget 2020: FM rejigs income tax slabs, some relief for real estate, rural and agriculture sectors

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…

Brief on different categories of non-banking financial companies

Micro Finance Companies: MBFC is any non-banking financial company licensed under section 25 of the Companies Act, 1956. These companies are engaged in micro-financing activities. With effect from November 08, 2019 the eligibility criteria for classification under ‘Qualifying Assets’ for NBFC-MFIs are revised. The Reserve Bank of India (RBI) in it’s circular dated November 08,…

RRBs are allowed to issue PDI

The Reserve Bank of India vide. Circular No. DOR.RRB.No.21/31.01.001/2019-20 dated November 1, 2019, permitted RRBs (Regional Rural Banks) to issue Perpetual Debt Instruments (PDI) eligible for inclusion as Tier 1 capital so as to maintain prescribed CRAR. The Perpetual Debt Instruments (PDI) is issued by way of bonds or debentures in Indian Rupees only. The…