RBI proposes revision in securitization definition for Sale of Loan Exposures including Standard Assets
Reserve bank of India proposes revision in definition of securitisation and lowered the stake the originating bank or non-banking finance company has to keep in the securitised asset. The Banking Regulator has placed on its website two draft documents for public comments – the ‘Draft Framework for Securitisation of Standard Assets’ and ‘the Draft Comprehensive…
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Interest Subvention Scheme for KCC, Fisheries and Animal Husbandry farmers extended up to August
Updated on June 8, 2020 In view of the extension of moratorium by another three months, i.e., up to August 31, 2020, Government has decided to continue the availability of 2% Interest Subvention and 3% Prompt repayment Incentive (PRI) to farmers for the extended period of repayment up to August 31, 2020, or date of…
Read article RBI sets up Payments Infrastructure Development Fund (PIDF)
The Reserve Bank of India broadcasts the setting up a Payment Infrastructure Development Fund (PIDF) of Rs 500 crore to encourage acquirers to deploy Points of Sale (PoS) infrastructure, both physical as well as digital modes in tier-3 to tier-6 centres and northeastern states. The fund has been created to provide further fillip to digitisation…
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Sovereign Gold Bond Scheme 2020-21-Series III being opened for subscription from June 8
Sovereign Gold Bond Scheme 2020-21-Series III will be opened for subscription for the period from June 08, 2020 to June 12, 2020 as per RBI press release today. As per the notification, the issue price of Gold Bond will be ₹4,627/- (Rupees Four Thousand Six Hundred and Twenty Seven only) per gram of gold. The…
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Changes made in IT return forms from June 01, 2020
[The revised income tax return stipulates taxpayers to furnish details of time limit extended for tax saving investments/ donations made up to June 2020 separately.] The Central Board of Direct Taxes (CBDT) on May 30 notified revised Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 and Form ITR-V…
Do you know the incomes that are exempted from income tax even in the new tax regime?
For FY 2020-21, Salaried individuals, who have no business income, will have to choose between the existing and new tax regimes every financial year, as per their convenience. The new income tax rates are lower compare to old tax rate. However, anyone opting for the new tax regime will have to forego most of the…
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