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Finance : The focus is on converting savings into investments rather than leaving them idle. The key takeaway is that disciplined investing ...
Finance : This guide explains why senior travellers should review travel insurance coverage, organise medical records, and plan ahead before...
Finance : The article explains how local Indian phone numbers enhance credibility and accessibility for international businesses. It highlig...
Finance : The article explains how borrowing within your affordability and understanding total loan costs can make loan management easier. I...
Finance : The article examines how ATMs are facing cash shortages even though currency circulation is at an all-time high. It argues that ba...
Finance : The Government has exempted interest and capital gains earned by FPIs on Government securities from income tax with effect from 1 ...
Finance : The Ministry of Finance has introduced a unified portal to help individuals search for unclaimed bank deposits, insurance claims, ...
Finance : The IFSCA clarified that retrocession and retention requirements apply to the entire gross reinsurance premium of IFSC Insurance O...
Finance : The authority observed that except life insurance, other insurance segments under IFSCA regulations align with the statutory defin...
Finance : The Ministry of Finance clarified that claims regarding monetisation of temple gold holdings or issuance of gold bonds to temples ...
Finance : The Supreme Court ruled that vicarious liability under the NI Act cannot arise solely from holding an office in a society or compa...
Finance : The Supreme Court refused relief to borrowers who defaulted from the very first instalment after availing an ₹8.09 crore loan. T...
Finance : The Supreme Court upheld a Will executed in favour of the testator’s sister despite objections from his wife and children. The C...
Finance : The Supreme Court held that insolvency proceedings under the IBC cannot be invoked merely to recover disputed dues arising from co...
Finance : The issue was whether indemnity obligations arise only after final appellate confirmation. The Supreme Court held that liability a...
Finance : IFSCA clarified that a common brand name by itself is sufficient to establish a Group Entity relationship under the ship leasing f...
Finance : IFSCA has consolidated multiple regulations and circulars into a single Master Circular for Stock Exchanges and Clearing Corporati...
Finance : IFSCA has introduced a standardized ACAR and ACAC reporting framework for Capital Market Intermediaries in IFSCs. The circular aim...
Finance : IFSCA has warned regulated entities that advanced AI models can accelerate cyberattacks by rapidly identifying and exploiting vuln...
Finance : The International Financial Services Centres Authority clarified that existing ASPs and TechFin entities continuing operations und...
Monthly Income Scheme (MIS) of the post office remains the flagship product under small savings scheme owning to better returns. MIS alone garnered Rs 54,302 crore against the total fund generation of Rs 2,50,931 crore during 2009-10. Thus, nearly 20 per cent was contributed by the product, as per the report by Committee on Small Savings Scheme. Since the effective rate of interest on MIS has been higher than other scheme, it is popular among those subscribers seeking regular additional income.
The Committee, while conscious of the multiplicity of schemes, recognised that most of the schemes serve the thrift needs of various sections of the population, especially small savers. It has, therefore, recommended closure of only one existing scheme – the Kisan Vikas Patra (KVP) while recommending continuation of all other schemes with suitable modifications.
The Cabinet today approved extension of medical facilities to beedi workers under the Rashtriya Swasthya Bima Yojana (RSBY). The beedi worker and his family (unit of five) will be covered and the total sum insured would Rs.30,000/-. The other benefits and procedures under the scheme will be the same as under RSBY. Any claims beyond Rs.30,000/- will be reimbursed directly by the related Welfare Commissioner to the concerned empanelled hospital through the existing procedure.
Bank fixed deposits would continue to remain more attractive for savers than long-term deposits under small savings schemes of post office despite the hike in interest rates proposed by the government panel. At the current market condition, the term deposit rates are as much as 50 basis points higher than the returns offered by small savings scheme as recommended by the Committee headed by RBI Deputy Governor Shyamala Gopinath.
Market regulator Sebi on Thursday agreed to settle a probe against Reliance Securities for a suspected breach of regulations, after the Anil Ambani group firm offered to pay Rs 25 lakh among various settlement terms. Brokerage firm Reliance Securities will also not register any new clients for the next 45 days and would spend Rs 1 crore on investor education and awareness programs, as per the terms of the settlement with Sebi.
ED Director Arun Mathur, in a presentation to the Joint Parliamentary Committee examining the spectrum allocation, on Wednesday said that the probe agency has been investigating 10 telecom companies for allegations of violation of the Foreign Exchange Management Act and the Prevention of Money Laundering Act. Unitech Wireless (Tamil Nadu), Swan Telecom, Loop Telecom, S-Tel Limited, Videocon Telecom, Idea Cellular, Tata Teleservices, Sistema-Shyam Telecom, Allianz Infratech which subsequently became EtisalatDB and Spice Communications which has since been merged with Idea Cellular are the companies being investigated by the ED, JPC Chairman P C Chacko told reporters in New Delhi on Wednesday.
India IPV6 Task Force Newsletter and Compendium on IPV6 Activities Released. Sh. R Chandrashekhar, Secretary (Telecom) released the first India IPv6 (Internet Protocol IPv6 )Task Force Newsletter and technical compendium on IPv6 activities at a function held in Sanchar Bhawan on the occasion of World IPv6 day, 8th June, 2011. Sh. S. C. Misra, Member (S), Smt. Sadhana Dixit, Member (Finance), Sh.J.Gopal, Advisor (T) and other senior officers of DoT, TEC, DIT, BSNL and MTNL were also present.
Union Finance Minister, Shri Pranab Mukherjee has urged the officers of Central Board of Excise & Customs (CBEC) to make sustained and strategic efforts throughout the year for the realisation of the challenging revenue target of Rs. 3,92, 908 crore for indirect taxes for 2011-12. He was addressing the Annual Conference of Chief Commissioners and Directors General of the Central Board of Excise and Customs at Vigyan Bhawan, here today.
The French Finance Minister, Ms. Christine Lagarde called on the Union Finance Minister Shri Pranab Mukherjee today as part of her effort to seek support for her candidature to the post of Managing Director, IMF. During her talks, she outlined her vision for reforms that IMF needs to undertake and the role it can play in addressing the current challenges confronting the world economy including G-20 matters.
Amid fears of moderation in growth, Finance Minister Pranab Mukherjee today said sustained efforts would be needed to achieve indirect tax collection target of Rs 3.92 lakh crore, about 15% more than the last fiscal. The Minister, while addressing the annual conference of chief commissioners and directors general of CBEC here, also called upon the tax officials to work towards reducing the tax litigations. Noting that doubts were being raised over growth projection of 9% for the current fiscal, Mukherjee said, it would be possible to achieve a growth rate of 8.75% (plus-minus 0.25%) with hard work.
