Finance

Surging Gold Prices in India

Researchers are bullish on the yellow metal and claims that gold price may rise to Rs.65,000.00 (Per 10gm, 24k). As on july,2020 average gold price in India has already crossed Rs.55,000.00.  In the past few months, there has been a lot of buzz around the gold prices. It is rising at a massive speed. So, […]...

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Indian economy: ‘Its future is bright’, says RBI Governor in CII Conference

Particularly for Indian citizens who are accustomed to hearing sad news or depressing articles from foreign writers, the present governor of RBI gave a heart-warming speech indicating the right direction for the Indian economy. Myself being a born optimist with decades of living in India is very happy to cover his speech with my observati...

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World economic development: Global Value Chains— India’s effective role

A telephone from my grandson while building Lego factory sets from his building blocks enquiring about factories/ storage facilities in India since he had seen many in the U.S.A., prompted me to look for global value chains. Moreover, our RBI Governor who is a world reputed economist with myriad solutions to our economic woes also [&helli...

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Understanding Mutual Funds & Role of Transfer Agency

This report has been prepare to help you achieve your mutual fund investment goals. The following points would throw more light on the same: -To set your investment goal and select the best-suited scheme which will help you to meet your objective at the right time. -To understand the structure of different types of mutual […]...

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cKYC mechanism become a mockery & wastage of country’s resources

What is cKYC? Probably some senior persons in the banking industry are aware of the formation of Central KYC registration agency in 2011 and its role etc. cKYC stands for Central KYC which is a centralised repository which allows storage of personal information of the customer centrally. Earlier, when a customer went to a financial [&hell...

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Govt working with RBI on Industry’s need for loan restructuring: FM

Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman today said that the government is working with RBI on the Industry’s need for the restructuring of loans due to the COVID-19 impact. ...

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Issue of SEBI Guidelines To All Mutual Funds In India

Acknowledging the fact that the securities market including mutual funds were worst hit by the impact of COVID-19, the Securities and Exchange Board of India (SEBI) has made an announcement having the effect of increasing obligation on such MFs. Accordingly, the mutual funds in India shall be required to embark on their secondary ma...

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Jio – The Hotcake for Foreign Investors – 2020

Ever since the Facebook-Jio Platforms deal has been revealed, the later is witnessing an unending flow of foreign direct investments from various entities. The latest one being the Rs.33,737 crores investments by Alphabet Inc. aka Google. It is equivalent to 7.7% stake. This fresh inflow moved the investments tally up to Rs.1,52,056 crore...

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Govt. sign $750 million Agreement with World Bank for MSMEs

The World Bank and the Government of India today signed the $750 million agreement for the MSME Emergency Response Programme to support increased flow of finance into the hands of micro, small, and medium enterprises (MSMEs), severely impacted by the COVID-19 crisis....

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Loans worth more than Rs 1 lakh crore sanctioned under ECLGS

Under the 100 % Emergency Credit Line Guarantee Scheme (ECLGS) backed by a Government guarantee , Banks from Public & Private Sectors have sanctioned loans worth over Rs. 1 lakh crore as of June 26, 2020, of which more than Rs 45,000 crore has already been disbursed.  This would help more than 30 lakh units of MSMEs & other businesses re...

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Ultratech Cement liable to Pay Interest @ 12% on Exessive Subsidy until Entire Excess Subsidy Recovered

Ultratech Cement Ltd. & Anr. Vs State of Rajasthan & Ors (Supreme Court) - Whether interest will be levied on availment of excessive subsidies of 25% under Rajasthan Investment Promotion Scheme-2003 until the whole excessive subsidies are recovered?...

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CIC allowed RTI to disclose Only Limited Information of Income Tax Return of Husband to His Wife

Smt. Basavantamma Vs The CPIO (Central Information Commission) - The issue under consideration is whether the details related to someone's Income Tax Return can be obtained through Right To Information Act?...

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Educational Loan cannot be rejected for Unsatisfactory Credit Scores of parents

Pranav S.R. Vs Branch Manager, State Bank of India (Kerala High Court) - In the present case, the education loan application had been declined on the ground that the CIBIL report of the petitioner's father showed that there was a default in a commercial vehicle loan availed by him....

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Punjab & Haryana HC directs Subordinate Courts to use Video conferencing facilities

Anuj Bansal Vs State of Punjab and others (Punjab and Haryana High Court) - Video conferencing facilities can be used in all matters including remands, bail applications and in civil and criminal trials where a witness is located intrastate, interstate, or overseas....

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C-Form benefits cannot be rejected merely for belatedly filing

TATA Hitachi Construction Machinery Company Pvt. Ltd. Vs State of Karnataka (Karnataka High Court) - TATA Hitachi Construction Machinery Company Pvt. Ltd. Vs State of Karnataka (Karnataka High Court) The issue under consideration is whether Tribunal was correct in rejecting the C-Forms submitted by the petitioner and hence denying statutory benefits? The Appellate Tribunal at the threshold has reje...

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Extension of MIS/SCSS/KVP/NSC/PPF schemes up to GDS Branch Post Office level through cheque

S.B. Order 27/2020 - (23/07/2020) - The references have been received in this office from time to time to provide MIS/SCSS/ NSC/KVP/PPF schemes in GDS Branch Post Offices. The matter has been examined in detail in the light of Rule 3 (a) of "Government Savings Promotion General Rules-2018" and the competent authority has accordingly d...

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Govt relaxes guidelines related to small savings schemes

SB Order 25/2020 - (03/07/2020) - Govt relaxes guidelines related to small savings schemes and allowed further relaxation till 31st July 2020 in respect of Post Office 1,2,3,5 Year Time Deposit, 5 Year Recurring Deposit Scheme, Senior Citizen Savings Scheme, Monthly Income Account, Public Provident Fund Scheme,  and Sukanya Samridd...

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Revised Small Savings Scheme interest rates w.e.f. 01.07.2020

SB Order 24/2020 - (01/07/2020) - Rate of interest w.e.f 01.07.2020 to 30.09.2020 on Small Savings Scheme i.e. Post Office Savings Account, 1,2,3,5 Year Time Deposit, 5 Year Recurring Deposit Scheme, Senior Citizen Savings Scheme, Monthly Income Account, National Savings Certificate (VIII Issue), Public Provident Fund Scheme, Kisan ...

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Govt notifies ‘SLS Trust’ as financial institution under RDB Act 1993

Notification No. S.O. 2144(E) - (30/06/2020) - Central Government hereby notifies ‘SLS Trust’ as financial institution under sub clause (ii) of clause (h) of section 2 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act, 1993). Extract of Section 2(h) of Recovery of Debts and Bankruptcy Act, 1993 is as follows:- 2. Definitions...

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TDS on interest on Post Office Saving Schemes reduced

S.B. Order 23/2020 - (26/06/2020) - In order to provide more funds at the disposal of the taxpayers for dealing with the economic situation arising out of COVID-19 pandemic. the rates of Tax Deduction at Source (TDS) for the following non-salaried specified payments made to residents has been reduced by 25% for the period from 14th Ma...

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Recent Posts in "Finance"

Surging Gold Prices in India

Researchers are bullish on the yellow metal and claims that gold price may rise to Rs.65,000.00 (Per 10gm, 24k). As on july,2020 average gold price in India has already crossed Rs.55,000.00.  In the past few months, there has been a lot of buzz around the gold prices. It is rising at a massive speed. So, […]...

Read More
Posted Under: Finance |

Indian economy: ‘Its future is bright’, says RBI Governor in CII Conference

Particularly for Indian citizens who are accustomed to hearing sad news or depressing articles from foreign writers, the present governor of RBI gave a heart-warming speech indicating the right direction for the Indian economy. Myself being a born optimist with decades of living in India is very happy to cover his speech with my observati...

Read More
Posted Under: Finance |

World economic development: Global Value Chains— India’s effective role

A telephone from my grandson while building Lego factory sets from his building blocks enquiring about factories/ storage facilities in India since he had seen many in the U.S.A., prompted me to look for global value chains. Moreover, our RBI Governor who is a world reputed economist with myriad solutions to our economic woes also [&helli...

Read More
Posted Under: Finance |

Understanding Mutual Funds & Role of Transfer Agency

This report has been prepare to help you achieve your mutual fund investment goals. The following points would throw more light on the same: -To set your investment goal and select the best-suited scheme which will help you to meet your objective at the right time. -To understand the structure of different types of mutual […]...

Read More
Posted Under: Finance |

cKYC mechanism become a mockery & wastage of country’s resources

What is cKYC? Probably some senior persons in the banking industry are aware of the formation of Central KYC registration agency in 2011 and its role etc. cKYC stands for Central KYC which is a centralised repository which allows storage of personal information of the customer centrally. Earlier, when a customer went to a financial [&hell...

Read More
Posted Under: Finance |

Smart Investing Can turn taxation into a wealth creation tool

Taxation-A Money eater, can be turned into wealth creator! Background Investing an Art or Science, I belief Investing is both, an art, to the extent you should learn to overcome from fears, control your emotions, have patience, control greed etc, and science to the extent you should do research, analyze various data/assets class, knowing ...

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Posted Under: Finance |

Farewell To Dividend Distribution Tax – Double Edged Reform

One major change that came with the Finance Act is removal of dividend distribution tax making section 10(34), 10(35), 115-O, 115R(2) and 115BBDA of the ITA inapplicable with effect from April 1, 2020. ...

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Posted Under: Finance |

Legal Perspective of Crypto As A Currency In India

Introduction: With the developments all around, the need and discussion for virtual currency is witnessing a huge demand all around the globe. For our understanding it is to be noted that a virtual currency has no physical form, and it does not provide its owner with any inherent rights to property or another currency. Traditionally, [&he...

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Posted Under: Finance |

Covid-19: Its Implications on Trade & Commerce: Indian Scenario

Trade and commerce is one of the important aspects to determine the development of a nation as it helps to enhance and build up a strong economy. But in quite a few months the world has witnessed a huge downfall in the economy as the ongoing pandemic had a great impact on trade and commerce worldwide....

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Posted Under: Finance |

New SEBI Regulatory Norms for Brokers in India

1. Definition of a Stock Broker as per SEBI norms: By general definition, a stockbroker is an intermediary having the authority to trade in stocks and securities them on a stock exchange on the behalf of investors. As it is difficult for the investor to directly trade in the stock exchange, he takes the assistance […]...

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Posted Under: Finance |

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