SBI, ICICI, and HDFC banks are too big to fail: RBI
The Reserve Bank of India today announced that State Bank of India, HDFC Bank, and ICICI Bank will remain as Domestic Systemically Important Banks (D-SIBs) and therefore will have to maintain additional common equity tier 1 (CET1) capital ratios in the same manner prescribed in 2020. SIBs are considered as banks that are ‘too big…
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Latest Small Savings/Post Office Interest Rates January – March 2022
The government has decided to keep the interest rates for small savings schemes unchanged for January 2022 to March 2022 quarter, the seventh in a row. The last revision in small savings rates was for April-June 2020. This was announced by the finance ministry via a circular dated 31, December 2021. Thus, the interest in…
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Do you know, these taxpayers don’t have to pay a late fee for missing ITR deadlines?
You can file your belated IT Returns anytime on or before 1 year from the end of the relevant Assessment Year (AY). However, if you file your ITR after the deadline, you have to pay a late filing fee of up to Rs.5000. There is a relief given to small taxpayers — the IT department…
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Do you know what an amortization schedule is?
Edited on 27.12.2021 Amortization refers to the process of paying off debt over time in regular equal payment consisting of interest and principal loan amount sufficient to repay the loan in full by its maturity date. Amortization also refers to the spreading out of capital expenses (similar to depreciation) related to intangible assets over a…
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RBI extends the timeline for tokenisation of cards by six months.
The Reserve Bank of India (RBI) on Thursday extended the deadline to comply with new card storage rules by another six months till 30th June 2022, following requests from industry bodies and other stakeholders. “In light of various representations received in this regard, we advise…the timeline for storing of a card on file (CoF) data…
2022 Bank holiday lists: All states and UTs of India
The holidays declared under NI Act is applicable exclusively to the banks located within the administration area of a specific State or Union Territory. In other States and Union territories where it is not a holiday, banks remain open and allow normal banking transactions similar to any other working day. SOUTHERN INDIA Click the name…
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