Will your take home salary, PF, working hours change from July 1 under New Labour Laws?
The Take-home salary, contribution to Employees’ Provident Fund and working hours could change significantly as the Centre plans to implement new labour laws from July 1. The Indian parliament has passed the four labour codes — wages, social security, industrial relations, occupational safety, health and working conditions. These codes were created by subsuming 29 Central…
Read article
What are the fiscal deficit and deficit financing?
Edited on 23.06.2022 In the recent Monthly Economic review, the finance ministry struck a note of caution on the twin deficit problem. Many of our readers like to know about the twin deficit problem. Whenever a country faces an increased fiscal deficit and current account deficit at the same time, it is known as the…
Read article
RBI extends implementation of some norms for credit and debit cards
The Reserve Bank of India vide circular dated April 21, 2022, had issued master directions for credit and debit card issuance in the year 2022. These guidelines apply to banks excluding payment banks, state co-operative banks, and district central co-operative banks. Also, all NBFCs operating in India should follow the new norms of card issuance…
Read article
Subscription for Sovereign Gold Bonds opens from today
The issue of the 2022-23 Series I of the Sovereign Gold Bonds (SGBs) scheme 2022-23 is open for subscription from June 20, 2022 – to June 24, 2022. The nominal value of the bond is based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of…
Read article
RBI Governor Dump downs proposal on setting up Neo bank or Digital Bank
“There is no proposal on neo-banks or digital banks because we feel that the existing banks and NBFCs can adopt more and more technology for delivery of banking services.” said Shaktikanta Das while delivering a speech at the Financial Express Modern BFSI Summit in Mumbai on June 17, 2022.”The theme of my address “Disruptions &…
RBI takes away restrictions imposed on Master Card
RBI on Thursday lifted the restrictions imposed on Mastercard Asia / Pacific Pte. Ltd, vide order dated July 14, 2021, from immediate effect. Last year on July 14, 2021, the regulator imposed restrictions on Mastercard from onboarding new domestic customers including debit, credit, or prepaid onto its card network for non-compliance with the RBI circular…
Read article