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…
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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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What is the difference between Micro economics and Macroeconomics?
Microeconomics refers to supply and an individual market. On the other hand, macroeconomics is the study of a national economy as a whole. The key differences between micro and macroeconomics are distinguished as follows. Microeconomics Macroeconomics Microeconomics studies the particular market segment of the economy Macroeconomics studies the whole economy, that covers several market segments…
Read articleMandatory SLR requirement for banks reduced
Latest edit: RBI has decided to reduce statutory liquidity ratio, the portion of funds which banks are required to park in treasury bills and other instruments, by 0.25% every quarter beginning January. The calibrated reduction in statutory liquidity ratio (SLR) will continue till it reaches18%. The first reduction of 25 basis points taken effect in…
Explained: Money, money supply and money supply curve
Economists worldwide have noticed a strong correlation between the inflationary trend and the growth of money in circulation in a point in time. Thus, a government that is in principle responsible for currency notes and coins issued by it, is answerable to its citizen and gets their value by dint of regulation or law. For…
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