RBI MPC Meeting 7 June 2024: Repo rate remain unchanged, GDP projection 7.2 per cent
Presenting the second monetary policy statement of FY25, RBI Governor Shaktikanta Das about the Central Bank’s position on the economy said “Remains vigil on any upside risk inflation, especially food inflation. Economic growth is holding firm.” The RBI’s monetary policy committee on June 7 decided to keep the repo rate unchanged for the eighth time…
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Know TDS for Cash deposit, withdrawal and other cash transaction limits
When you are depositing or withdrawing a certain specified amount in cash, you need to consider the following scenarios where you may be liable for tax liability. Besides, an assessee is liable to pay tax and, or penalty for the different types of transactions under various sections of the Income Tax Act. The details of…
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Explained: NBFCs in India and RBI guidelines for NBFCs
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956. The companies predominantly engaged in financial activity are only getting registered with RBI as NBFCs. In other words, when a company’s financial assets out of the total assets are more than 50 percent and the company’s gross income from financial assets…
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What is reserve money?
Reserve money is the most important form of money supply that functions as the monetary base of an economy. It is also called high-powered money, base money, and central bank money. Reserve money includes all of the currency (currency notes, coin, and e₹) in circulation, in addition to the banks’ deposits with the central bank,…
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The concept of deficit expenditure of a government
There are three types of budgets in government budgets. They are known as Balanced Budget, Surplus Budget, and Deficit Budget. Balanced budget: When the expenditure planned by the government in the budget proposal is assumed to be balanced with the anticipated receipt for a fiscal year. It is called a balanced budget. Surplus budget: –…
What is a Union Budget?
[This article explains the meaning of Receipt budget, Non-debt receipt, capital budget, capital expenditure, department of expenditure, etc.] A Union budget is the annual spending plan of the Government based on the estimated income and expense of a nation for the next financial year. The objective of the Government Budget is a blueprint for stimulating…
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