Equilibrium of Supply and Demand, Effect of a Shift in Supply and Demand
Equilibrium is the state in which market supply and demand balance each other, and prices become stable. Generally, an over-supply of goods or services causes prices to go down, which results in higher demand—while an under-supply or shortage causes prices to go up resulting in less demand. When the quantity demand exceeds the quantity supplied,…
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Income tax department has now rolled out new functionality in AIS
The income tax department has now rolled out new functionality in the Annual Information Statement (AIS) to display the new status information confirmation process. The statement is available to all registered Taxpayers through the compliance portal, accessible through the e-filing website (www.incometax.gov.in). AIS provides details of the following large number of financial transactions undertaken by…
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Forces behind Demand Curve, and shifts in Demand explained
Demand schedules and Demand curves are tools used to summarize the relationship between quantity demanded and price. Demand schedules/ curves relate the prices and quantities demanded assuming other factors remain constant. This is called the ceteris paribus assumption. If you neither need nor want something, you will not buy it. So the demand schedule reflects…
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UPI ATM: Check how to withdraw cash from ATM without debit card
Bank customers can now withdraw cash from ATMs without using physical cards. Even if you do not hold debit cards from your bank, still you can easily use this facility to withdraw money. Multiple banks in India have introduced interoperable cardless cash withdrawal (ICCW) enabled ATMs. The cash withdrawal transaction will be facilitated through a…
Read article Four types of economic plannings
We may observe 4 types of economic planning by the Governments of different parts of the world. They are Planning by Direction and Inducement, Physical and Financial Planning, Imperative and Indicative Planning, Fixed & Rolling Plans, and Decentralized and Centralized Planning These economic systems practiced through economic planning can be classified as Traditional Economies, command…
RBI relaxes norms for margin for derivative contracts and maintenance of Non-resident deposits and accounts
RBI has recently issued two notifications. The first notification is about Margin for Derivative Contracts and the second notification is on an amendment to Master Instructions issued on the maintenance of deposits and accounts under the Foreign Exchange Management Act, 1999. The first Direction dated May 8, 2024, shall apply to Authorised Dealer Category-I (AD…
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