Finance news

India’s Foreign Trade Data: December 2020

India’s overall exports (Merchandise and Services combined) in April-December2020-21* are estimated to be USD 348.49Billion, exhibiting a negative growth of (-)12.65per cent over the same period last year. Overall imports in April-December 2020-21* are estimated to be USD 343.27Billion, exhibiting a negative growth of (-) 25.86per cent ...

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Posted Under: Finance |

How do I Open a Demat Account

You can obtain application form from any Depository Participant (DP) registered with Depository and SEBI. To identify the nearest DP available in your locality, you may obtain the contact details from Depository or SEBI Website (www.sebi.gov.in). The duly filled application form along with PAN Card and Proff of Address can be submitted to...

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Posted Under: Finance |

68% of borrowers are unaware of their CIBIL score, reveals Home Credit Survey

♦ Patna reports lowest literacy levels with only 22% of borrowers aware of their CIBIL score, followed by Kolkata (25%) and Mumbai (25%), reveals research conducted to understand Financial Literacy levels ♦ 76% of borrowers do not know their interest amount on loan, research says ♦ 50% respondents aware about Mutual Funds; Kolkata l...

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Posted Under: Finance |

Momentum of reforms continues during pandemic & will continue: FM

In the present pandemic times when the headwinds to growth have exacerbated, the reforms momentum has continued, and will continue in the future as well, said Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman while addressing the National MNCs Conference 2020 organised by the Confederation of Indian Industry (CII) h...

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Posted Under: Finance |

COVID 19 Ex Gratia to borrowers for difference in interest : FAQs

The bank/ lending institution will provide ex gratia payment to the borrower account of the difference between compound interest and simple interest on loan accounts with sanctioned limits and outstanding upto Rs. 2 crores (aggregate of all the borrowings / facilities from all the banks and financial Institutions) for the period from 1st ...

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Posted Under: Finance |

Clarification on news of increase in service charges by banks

There have been several media reports alluding to steep increase in service charges by certain Public Sector Banks (PSBs).  In this context, the factual position is as follows:   ...

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Posted Under: Finance |

GIFT IFSC prescribes framework for listing of Depository Receipts

The International Financial Services Centres Authority (IFSCA), with an objective to develop the financial products and financial services in the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC) has prescribed the regulatory framework for listing of Depository Receipts (DRs)....

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Posted Under: Finance |

Draft Loan Agreement

To be printed in stamp paper of Rs.______________ (based on the respective Stamp Act applicable)  LOAN AGREEMENT LOAN AGREEMENT BETWEEN Mr A son of Mr. B, residing at (Address of the loan provider) AND Mr. C son of Mr. D, residing at(Address of the borrower) THIS AGREEMENT made and entered into at(Place—-) this (Date ——...

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Posted Under: Finance |

2.5 crores subscribers enrolled under APY

AUM through NPS and APY subscribers under Pension Fund Regulatory and Development Authority crosses Rs 5 trillion. 8,186 corporate enrolments with 10.50 lakhs subscribers till 10th Oct 2020. 2.5 crores subscribers enrolled under APY...

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Posted Under: Finance |

Twenty States allowed to mobilize Rs. 68,825 crore

The Department of Expenditure, Ministry of Finance, has today granted permission to 20 States to raise an additional amount of Rs.68,825 crore through open market borrowings....

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Posted Under: Finance |

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