These things you need to know that you are eligible for tax benefits outside section 80C
Updated: As per amended finance act 2020 Although investments made under Section 80C does offer a major tax-saving deduction, there are other sections that you can explore to reduce tax liability. Here are some important tips about how you can save tax if you opt for an existing (old) tax regime. Click here for Income…
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What is Service Area Approach?
Service area approach (SAA) is a developed version of the ‘area approach’ structure of the Lead Bank Scheme. Under SAA plan each commercial bank / RRB branch in a rural and semi-urban area is designated to serve 15 to 25 villages for the planned and orderly development of the areas. The designated branch of a…
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What is Lead Bank Scheme?
Background: In October 1969, the study group lead by Prof. D. R. Gadgil (Gadgil Study Group) recommended the adoption of an ‘Area Approach‘ to evolve plans and programmes for the development of an adequate banking and credit structure in the rural areas. Further, under the chairmanship of Shri F. K. F. Nariman (Nariman Committee) a…
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FAQs on Detection and Impounding of Counterfeit Notes
Q: Who is the authority to impound Counterfeit Notes? A: The Counterfeit Notes can be impounded by (i) All Banks (ii)All Treasuries and Sub-Treasuries (iii) Issue Offices of Reserve Bank of India. Q: How the Counterfeit Notes are detected? A: Currency notes tendered over the counter is examined by the cashier for authenticity through machines.…
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What is SHG bank linkage programme?
[This post offers updated guidelines/instructions on SHG-Bank linkage programme at one place based on various circulars issued by Reserve Bank of India on the subject up to June 30, 2020] The Self Help Group-Bank Linkage Programme (SBLP) was started in 1992 at the initiative of NABARD. The basic idea of the SBLP is to link…
FAQs on Exchange of Notes and Coins in banks
Q: Which are the banks authorised to exchange notes coins? R: All the bank branches in entire India are mandated to provide facility for exchange of notes and coins to the members of public. Banks are also directed by the banking regulator (RBI) to issue fresh/good quality notes and coins of all denominations whenever customers…
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