RBI today announced the next due date of premature redemption of the Sovereign Gold Bond Scheme (SGB 2017-18, Series IX – Issue date November 27, 2017) tranche shall be May 26, 2023 (May 27, 2023, being a non-working Saturday). As per Sovereign Gold Bond Scheme, premature redemption of a Gold Bond may be permitted after…
The Insurance Regulatory and Development Authority of India (Irdai) on Tuesday made significant changes to the norms governing ‘surety bonds, a type of insurance policy that protects parties involved in a transaction or contract from potential financial losses. As per a circular issued by the IRDAI, the solvency requirement applicable for such products has now…
The working capital limit (generally known as cash credit limit) is sanctioned by banks and financial institutions to industrial and trading establishments for their investment in various types of current assets typically including raw materials, work in progress, finished goods, and office supplies, used in the operating cycle. This facility offers the borrowers flexibility and…
Today, the government has hiked the interest rates of small savings schemes by up to 70 bps (One percentage point is equivalent to 100 basis points.) for the April-June 2023 quarter. The latest chart of interest for small savings instruments for the Q1 (April 1 to June 30) of 2023 is as under. Scheme Rate…
On Friday, the government amended the mutual fund rules in Finance Bill 2023, wherein debt mutual fund investors will no longer receive a tax benefit on long-term capital gains after April 1. The change in the tax treatment on debt mutual funds comes into effect after the Lok Sabha passed the Finance Bill 2023 on…
Who can assure you of the guaranteed return on your investment in the equity market? Undisputable, no expert investor in the equity market can guarantee that you will make a profit from every transaction you enter into. Therefore, those investors who do not want to take the risk go for investing in arbitrage funds which…
The Subscription of the Gold Bonds under this Scheme shall be open between March 6 (Monday) and March 10 (Friday).The Central Government may, with prior notice, close the Scheme at any time before the period specified above. Sovereign Gold Bonds are issued by the Reserve Bank of India (RBI) on behalf of the Centre as…
(Evaluation of 10 widely preferred tax-saving instruments eligible for tax deductions under old tax regime- section 80C ) Updated and re-posted on 09.01.2023 Under old rules of income tax individuals can claim deductions besides section 80 C, there are various deductions a taxpayer can claim from his total income which would bring down his taxable…
The government on Friday (December 30, 2022) has effected hike in interest rates of 8 small saving instruments for the January-March 2023 quarter. The interest rates of schemes like the Senior Citizen Savings Scheme, Monthly Income Savings Scheme, National Savings Certificate, Kisan Vikas Patra, and all post office time deposits have been hiked. However, rates…
The issue of the 2022-23 Series III of the Sovereign Gold Bonds (SGBs) scheme 2022-23 is open for subscription from December 19, 2022– to December 27, 2022. The Subscription of the Gold Bonds under this Scheme shall be open (Monday to Friday) on the dates specified above, provided that the Central Government may, with prior…