What is capitalism?
Capitalism is an economic and political system in which private ownership controls the trade and industry of the country. In capitalism system the wealth is concentrated in the hands of a few people. The idea of these private owners is capital accumulation; make maximum profit without worrying about social constraints like unemployment, exploitation of labours…
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Interest rate for Small Savings Deposits: January 2019 to March 2019
The Finance Ministry in its notification had communicated that the rates of interest on various small savings schemes for the fourth quarter of the financial year 2018-19 starting 1st January 2019 to 31st March 2019. The interest rate for time deposits for the period 1 year to 3 years is made uniform 7.00% for the…
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Budget 2018: High lights for agriculture sector
Finance Minister Mr.Arun Jaitley, proposed following scheme for agriculture sector. The government will set up regulations to make sure that470 Agricultural Produce Market Committees are created and connected to the electronic platform of the National Agricultural Market (eNAM). The government is looking at working with NITI Aayog to set up an optimal farm price realisation…
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Income tax calculation for the FY 2018-19
Key changes announced in the Union budget 2018 are as under For individuals below 60 years of age Standard deduction of Rs. 40,000 for salaried employees in lieu of transport and medical expenses Health and education cess has been increased to 4 per cent from earlier 3 per cent Surcharge of 10 % on income…
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What is Supervisory Review Process (SRP) of Bank Management?
The supervisory review process (SRP) of bank management is intended not only to ensure that banks have adequate capital to support all the risks in their business, but also to encourage banks to develop and use better risk management techniques in monitoring and managing their risks. SRP includes assessment by the supervising authority to ensure…
What is the difference between a sale and agreement to sell?
Both sale and agreement to sell can be easily explained with the following example. Let us visualize that you have decided to buy a house property. After identifying a property which suits your requirements, you have to consider two important aspects before entering into the sale agreement with the vendor. The first job is to ascertain…
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