Interest rates of PPF, NSC, and other small saving schemes kept unchanged for July-Sept 2021
The government has decided to keep the interest rates for small savings schemes unchanged for the July-September quarter, the fifth 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 June 30, 2021. Thus, the interest in the small savings…
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Interest Equalisation Scheme for Export Credit
The Interest Equalisation Scheme for export credit is available to all MSME exporters under 416 tariff lines under Indian Trade Clarification (ITC)- Harmonized System (HS) Codes of 4 digits and exports made by MSMEs across all ITC(HS) codes. It means all MSME exporters including merchant exporters are eligible for an Interest Equalisation rate from 3%…
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Who is your close relative as per companies act?
Generally speaking, “relative”, with reference to any person, means any one who is related to another. Your family members are also called your relatives.Your immediate family includes your father, mother and siblings. Your extended family includes all of the people in your father and mother’s families. Your sibling is your brother or sister. In the…
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Do you know who is known as the permanent resident of a country?
A lawful permanent resident is some one who has been granted the right to live in a country or territory of which such person is not a citizen but where they have the right to reside on permanent basis. Permanent residency allows an individual to retain his or her citizenship while legally staying in another…
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RBI clarifies the doubts on new Definition of MSMEs
Updated on 25.06.2021 (As per the new definition, Written Down Value (WDV) is at the end of the Financial Year as defined in the Income Tax Act and not cost of acquisition or original price, which was applicable in the context of the earlier classification criteria. All enterprises are required to register online and obtain…
Do you know how Gold metal loans are sanctioned to jewellers?
Updated on 24.06.2021 Banks that are nominated to import gold as per extant instructions of RBI, may extend Gold (Metal) Loans to domestic jewellery manufacturers, (who are not exporters of jewellery) for non-export purposes and also to the jewellery manufacturers and exporters. Gold (Metal) Loans can be sanctioned only to gold jewellers, who are themselves…
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