<strong>If redemption date for Coupons/Govt. Securities is a public holiday, then which day will be the due date?</strong>
The Government on Monday announced that the outstanding balance of ‘7.37% Government Securities 2023’ due on 16th April 2023 will be payable on 15th April 2023 as the 16th is a Sunday. It is a common belief of many people that if your payment due date falls on Sunday or a holiday the same can…
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<strong>Interest on small savings schemes hiked by up to 70 bps for the April-June 2023 quarter</strong>
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…
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Tax setback for debt mutual funds: What investors can do now?
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…
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Why arbitrage funds rank high when it comes to safety?
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…
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Issue of last tranche of Sovereign Gold Bond Scheme 2022-23 starts today
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…
Govt hikes interest rate on SCSS, NSC and 5 other small saving instruments for Jan-March 2023
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…
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