Finance

Payment Wallet for NBFCs

With the ever improving world of technology, the various mobile payment methods are becoming a preferred mode of payment for a large number of consumers. Amongst the popular payment methods, Mobile-Wallets are the ones that have gained momentum....

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Debt – A Hurdle in Growth

India is developing nation which is steadily progressing on planned track of development.  India is continuously facing some basic hurdles .i.e. External Debt, Poverty, Excessive population, etc. however we belong to the country having sufficient and appropriate resources but as we know “A money in saving account is immaterial until it...

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Nature of Hybrid Securities: Debt or Stock?

Traditionally, corporate securities were categorized into two either stocks or debts. This means that a transaction in the company’s security either created increased company’s assets or incurred a liability to the company....

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Aspects to consider while buying your first home / buying a new house

A new house spells new beginnings. This would be one of your biggest financial decisions till now and it would have an impact for a long time to come. Therefore, it is important to consider this decision carefully before embarking on purchasing the new house....

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Money Changer Business in India

One of the strata of business which can give you a substantial level of profit is no other than the cash trade. In this sort of business, what you have to get associated with is cash and budgetary exchange....

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Investigative agencies to maintain high standards of professionalism: FM

Shri Arun Jaitley, Union Minister for Finance and Corporate Affairs, exhorted Directorate of Revenue Intelligence to maintain high integrity and professional standards and endeavour to become a a near perfect organisation....

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FM defends Demonitisation & explains its Impact

Demonitisation compelled holders of cash to deposit the same in the banks. The enormity of cash deposited and identified with the owner resulted in suspected 17.42 lakh account holders from whom the response has been received online through non-invasive method. ...

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Procedure to apply for MSME loans up to Rs 1 crore in 59 minutes

Government has provided an opportunity to MSMEs to apply for loan upto Rs 1 crore, which will be processed quickly and without collateral security...

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MSME loans up to Rs. 1 crore – All you want to know

1. What is the minimum and maximum loan amount one can borrow through the portal? An MSME can avail business loan from Rs 1 Lakh to Rs 1 Crore through www.psbloansin59minutes.com. 2. What if I do not file/have GST Return/Income Tax Return/Banking Details? We are sorry, you will not be able to complete the borrower journey on www.psbloansi...

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Govt takes Action taken to preserve value & assets of IL& FS

Firm and Decisive Government Action taken to preserve value and assets of IL& FS Government stands fully committed to ensure much needed liquidity arranged for the IL& FS from the financial system so that no more defaults take place and the infrastructure projects  implemented smoothly IL&FS, incorporated in 1987, is a large ...

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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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Stamp Papers valid even after six month of Purchase

Thiruvengada Pillai Vs. Navaneethammal & Anr. (Supreme Court of India) - The Indian Stamp Act, 1899, nowhere prescribes any expiry date for use of a stamp paper. Section 54 merely provides that a person possessing a stamp paper for which he has no immediate use (which is not spoiled or rendered unfit or useless), can seek refund of the value thereof by surrendering such ...

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Interest Rates of Small Savings Schemes hiked by 0.30 to 0.40 percent

F.No.01/04/2016-NS - (19/09/2018) - Government announces the Revision of interest rates for Small Savings Schemes for the Third Quarter of the current Financial Year 2018-19 On the basis of the decision of the Government of India, the interest rates for Small Savings Schemes are to be notified on Quarterly Basis with the approval of t...

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Sukanya Samriddhi A/c can be opened with initial deposit of Rs. 250 now

G.S.R. 617(E) - (05/07/2018) - Sukanya Samriddhi Account Account may be opened with a minimum initial deposit of two hundred and fifty rupees and thereafter any amount in multiples of  two hundred and fifty rupees may be deposited in an Account subject to the condition that a minimum of two hundred and fifty rupees shall be mad...

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Regularisation of PPF accounts opened in Joint names

SB Order No. 06/2018 - (28/05/2018) - As per the Public Provident Fund Scheme, 1968, a PPF account can not be opened in joint names, i.e. in the names of more than one individual. Ministry of Finance has been receiving references from various Banks and Post Offices seeking regularization of irregular PPF accounts opened in joint capacit...

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Interest Rate on Special Deposit Scheme wef 01.01.2018 notified

F. No. 5(4)-B(PD)/2017 - (01/01/2017) - Deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds shall with effect from 1st January, 2018 to 31st March, 2018 bear interest at 7.6% (Seven point six per cent). This rates will be in force w.e.f. 1st January, 2018....

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Constitution of Fifteenth Finance Commission Notified

S.O.3755(E) - (27/11/2017) - The Government of India, with the approval President of India, has constituted Fifteenth Finance Commission in pursuance of clause (1) of article 280 of the Constitution, read with the provisions of the Finance Commission (Miscellaneous Provisions) Act, 1951 w.e.f. 27th November, 2017. ...

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Recent Posts in "Finance"

Payment Wallet for NBFCs

With the ever improving world of technology, the various mobile payment methods are becoming a preferred mode of payment for a large number of consumers. Amongst the popular payment methods, Mobile-Wallets are the ones that have gained momentum....

Read More
Posted Under: Finance |

Debt – A Hurdle in Growth

India is developing nation which is steadily progressing on planned track of development.  India is continuously facing some basic hurdles .i.e. External Debt, Poverty, Excessive population, etc. however we belong to the country having sufficient and appropriate resources but as we know “A money in saving account is immaterial until it...

Read More
Posted Under: Finance |

Nature of Hybrid Securities: Debt or Stock?

Traditionally, corporate securities were categorized into two either stocks or debts. This means that a transaction in the company’s security either created increased company’s assets or incurred a liability to the company....

Read More
Posted Under: Finance |

Investigative agencies to maintain high standards of professionalism: FM

Shri Arun Jaitley, Union Minister for Finance and Corporate Affairs, exhorted Directorate of Revenue Intelligence to maintain high integrity and professional standards and endeavour to become a a near perfect organisation....

Read More
Posted Under: Finance |

Aspects to consider while buying your first home / buying a new house

A new house spells new beginnings. This would be one of your biggest financial decisions till now and it would have an impact for a long time to come. Therefore, it is important to consider this decision carefully before embarking on purchasing the new house....

Read More
Posted Under: Finance |

Money Changer Business in India

One of the strata of business which can give you a substantial level of profit is no other than the cash trade. In this sort of business, what you have to get associated with is cash and budgetary exchange....

Read More
Posted Under: Finance |

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 receives the notes has reason to believe ...

Read More

DHFL’s COCODrive – India’s first pick and pay car insurance policy

With a continuous rise in the number of automobiles on Indian roads, it’s getting tougher to safeguard your car from any unwanted accidents. The exorbitant cost of repairs, coupled with the expensive spare parts, could definitely make a hole in your pockets that is why it’s important to have a good Car Insurance policy. With […...

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Posted Under: Finance |

CoinSwitch Review – This Cryptocurrency Trading Platform is the biggest exchange in the crypto world right Now

Cryptocurrencies are a form of digital currencies that is passing through the hurdles to be competent to the fiat currencies. Though cryptocurrencies are falling and making its way up the ladder every now and then, the craze for these cryptos is always on the higher end....

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Posted Under: Finance |

Why planning well in advance for your retirement matters?

Have you ever wondered about financial independence at the time of retirement? Have you ever contemplated on how your retirement life will look like? Will it be something where you reside in your dream house, which is like a fairy tale?...

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Posted Under: Finance |

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