Finance

Point to be considered before financial year closure

Our Financial year is about to end and here are few points which should be considered before closing the financial year. These points should not be missed and every startup or business owner should understand its importance. Closing stock: Ensure that you have properly counted your closing stock and the figures are genuine. Closing stock ...

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Management reports for decision making

There are few reports form Tally accounting software which helps a business owner to get a real picture of his business. These reports are very important when it comes to understanding your business, preparing the projections for next 3 months and for taking important decisions. Cash flow Report: Cash flow Report is the report I […...

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Risk Management: An Aeroplane View

Finance is one of the most crucial divisions in business. It’s directly linked with operations. Engage in any business, cost is something which will be incurred and revenue also needs to be generated minimum to the breakeven point in order to run the business smoothly. Almost all risks are somewhere associated with finance....

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China will get 6% GDP Growth in 3rd Quarter of CY-2020

Before I get into the main topic I would like to share and draw your attention to something which is need of the hour or going to be the only survival path. Lockdown has eradicated the GDP growth drivers of many economies. We are just at the beginning of the new decade and we have […]...

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Overview of Taxation & other Laws (Relaxation of Certain Provisions) Ordinance, 2020

Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020-Overview Various relief measures were announced by Finance Minister Smt. Nirmala Sitharaman on 24th March, 2020 and to give effect to that relief measures Government of India notifies Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 on 31....

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Finance Minister announces Rs 1.70 Lakh Crore relief package

Finance Minister announces Rs 1.70 Lakh Crore relief package under Pradhan Mantri Garib Kalyan Yojana for the poor to help them fight the battle against Corona Virus...

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Induslnd Bank statement on irresponsible rumours and speculation

In wake of the significantly higher level of market rumours and speculation around Induslnd Bank stock, we would like to reiterate that the Bank is financially strong, well-capitalized, profitable, and a growing entity with strong governance....

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NIFM to be renamed as Arun Jaitley National Institute of Financial Management

National Institute of Financial Management, Faridabad, to be renamed as Arun Jaitley National Institute of Financial Management The Government of India has decided to rename National Institute of Financial Management (NIFM), Faridabad as Arun Jaitley National Institute of Financial Management (AJNIFM). NIFM, Faridabad, was set up in 1993 ...

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Funding NBFCs under Credit Guarantee Scheme

A number of steps have been taken since 2018 to ease the liquidity position of Non-Banking Financial Companies (NBFCs) and to increase credit flow. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today....

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Budget 2020 accords highest priority to development of North East

Hallmark of Union Budget 2020-21 is the highest priority it accorded to the overall development of North Eastern Region: Dr Jitendra Singh...

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HC dismisses petition against amendments in PMLA through Money Bill

Mr. Jairam Ramesh Vs Union of India And Ors (Delhi High Court) - Mr. Jairam Ramesh Vs Union of India and Ors (Delhi High Court) There is no dispute that the petitioner herein is a Member of Rajya Sabha. The plea of Mr. Chidambram that the petitioner was not aware that such amendments have been carried out as Money Bills, is no reason to challenge the amendments, ...

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Mere use of any forged or counterfeit currency/bank notes is not an offence

Sanskriti Jayantilal Salia Vs. State of Maharashtra (Bombay High Court) - Sanskriti Jayantilal Salia Vs. State of Maharashtra (Bombay High Court) When mens rea is conspicuously absent, mere use of any forged or counterfeit currency notes or bank notes cannot attract the provisions of Section 489(B). The essential ingredient of the said offence being that the person, who r...

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CAG can audit Pvt. Companies if Govt Revenue is in question

Association of Unified Telecom Service Providers of India Versus Union of India & Others (Delhi High Court) - The Delhi High Court has delivered a judgement in the case of Association of Unified Telecom Service Providers of India Versus Union of India & Others on the powers of CAG to audit the revenues of Private Telecom Companies flowing to the Consolidated Fund of India...

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Publishing loan defaulter’s photos in newspapers is illegal

Ujjal Kumar Das & Anr. Vs State Bank of India & Ors. (Calcutta High Court) - Whether or not a secured creditor, which has initiated action for enforcement of its security interest in terms of the provisions of the Securitisation and Reconstruction of Financial Asset and Enforcement of Security Interest Act, 2002...

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SAT held Ranbaxy Director Guilty of insider trading

Mr. V.K. Kaul Vs Adjudicating Officer (Securities Appelate Tribunals Mumbai) - It is highly improbable to believe the statement of Mrs. Bala Kaul that she bought shares of the target company because of its intrinsic value and strong fundamentals. If that was so, it is not clear, what made her sell these shares on April 10, 2008, when Solrex was still in the process of investin...

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Massive interest rate cut on Small Savings PPF/ SSA/ NSC/KVP/SCSS

F. No. 1/4/2019-NS - (31/03/2020) - Government has declared Rate of Interest on Small saving for the Quarter of April 2020 to June 2020 with Massive cut in in interest Rate ranging from 0.70 to 1.40 % per annum. For example rate of interest on PPF been reduced by 70 basis points to 7.1% per annum and same on Sukanya Samriddhi [&hellip...

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President Assents Finance Act, 2020

NO. 12 OF 2020 - (27/03/2020) - President Assents Finance Act, 2020 on 27th March 2020.  Finance bill 2020 was presented in Lok Sabha on 01.11.2020 and get passed in Lok Sabha on 23.03.2020.  After passing of bill from Lok Sabha the bill was presented in the Rajya Sabha on the same day, which returned the same without considerat...

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SBI Sanctions Ad-Hoc Limits to existing borrowers to Tide over Covid-19 Impact

Circular No. CCO/CPPD-ADV/192/2019-20 - (20/03/2020) - With a view to provide some degree of relief to the borrowers whose operations are impacted by Covid 19, it is decided by the Bank to make available additional credit facilities to the eligible existing borrowers by way of ad-hoc facilities i.e COVID 19 EMERGENCY CREDIT LINE (CECL) to tide over the ...

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Senior Citizens Welfare Fund deposit – 6.85% Interest Rate for FY 2019-20

F. No. 13/20/2014-NS - (17/03/2020) - It is hereby notified that the deposits made under the Senior Citizens Welfare Fund, announced in the Ministry of Finance (Department of Economic Affairs) Notification No. G.S.R. 322(E) dated 18th March, 2016, shall with effect from 1st April, 2019 to 31st March, 2020, bear interest at 6.85% (Six po...

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Clarification regarding relaxation of purchase of air tickets from authorized Travel Agents for LTC

Office Memorandum No. 43020/2/2016-Estt (A.IV) - (19/02/2020) - Procedure for booking of air-tickets on LTC and to say that as per the extant instructions, whenever a Government servant claims LTC by air, he/she is required to book the air tickets directly from the airlines (Booking counters, website of airlines) or by utilizing the services of the authorized tr...

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Recent Posts in "Finance"

Point to be considered before financial year closure

Our Financial year is about to end and here are few points which should be considered before closing the financial year. These points should not be missed and every startup or business owner should understand its importance. Closing stock: Ensure that you have properly counted your closing stock and the figures are genuine. Closing stock ...

Read More
Posted Under: Finance |

Management reports for decision making

There are few reports form Tally accounting software which helps a business owner to get a real picture of his business. These reports are very important when it comes to understanding your business, preparing the projections for next 3 months and for taking important decisions. Cash flow Report: Cash flow Report is the report I […...

Read More
Posted Under: Finance |

Risk Management: An Aeroplane View

Finance is one of the most crucial divisions in business. It’s directly linked with operations. Engage in any business, cost is something which will be incurred and revenue also needs to be generated minimum to the breakeven point in order to run the business smoothly. Almost all risks are somewhere associated with finance....

Read More
Posted Under: Finance |

China will get 6% GDP Growth in 3rd Quarter of CY-2020

Before I get into the main topic I would like to share and draw your attention to something which is need of the hour or going to be the only survival path. Lockdown has eradicated the GDP growth drivers of many economies. We are just at the beginning of the new decade and we have […]...

Read More
Posted Under: Finance |

Overview of Taxation & other Laws (Relaxation of Certain Provisions) Ordinance, 2020

Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020-Overview Various relief measures were announced by Finance Minister Smt. Nirmala Sitharaman on 24th March, 2020 and to give effect to that relief measures Government of India notifies Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 on 31....

Read More
Posted Under: Finance |

You can avail a personal loan without having to leave your home, here’s how

Bajaj Finserv offers 100% online personal loans that you can avail without stepping out of your doorway. As the country comes to terms with the lockdown imposed over the spread of the Coronavirus, nearly all commerce across the country (with the exception for essential services) has come to a standstill. It has put millions of […]...

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Posted Under: Finance |

How I stay financially secure during these uncertain times

When it comes to financial planning, I had been fascinated from a very young age. I remember a conversation with my father where he said, money, if properly managed has the ability to change individuals, corporates and even countries....

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Posted Under: Finance |

Massive interest rate cut on Small Savings PPF/ SSA/ NSC/KVP/SCSS

F. No. 1/4/2019-NS (31/03/2020)

Government has declared Rate of Interest on Small saving for the Quarter of April 2020 to June 2020 with Massive cut in in interest Rate ranging from 0.70 to 1.40 % per annum. For example rate of interest on PPF been reduced by 70 basis points to 7.1% per annum and same on Sukanya Samriddhi […]...

Read More

Independent Financial Advisor- Strategy To Survive

The covid 19 has changed the dynamics of business and among all the sectors the Independent Financial Advisor segment is very much impacted. The industry of Financial Distributors has been battling with falling margins revenue and now the sudden impact of Covid 19 is a major setback. I find that in the coming days the […]...

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Posted Under: Finance |

Extension of Financial Year-Do We Really Need ?

The recent worldwide crisis on account of outbreak of Novel Corona virus (COVID-19) and resultant 21 days lock down declared by Govt. of India has put everything standstill in our Country. Prior to complete lock down announced by the Central Govt., many State Govts. has also declared complete lock down in their respective States. As [&hel...

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Posted Under: Finance | ,

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