Irdai forms task force to facilitate ease of doing KYC using Aadhaar for policyholders: What will be covered [ad_1] The Insurance Regulatory and Development Authority of India (Irdai) has announced that it is setting up a task force to facilitate ease of doing KYC and allied matters using Aadhaar. The insurance regulator made this announcement via a circular dated May ...

Your credit card payments overseas will attract a 20% TCS from July 1 From July 1, your credit card transactions abroad will get costlier. Not only will you have to pay a higher tax collected at source (TCS) of 20 per cent on each of these transactions, but you will also have to limit the spending to under $250,000 in ...

DPIIT takes up startup taxation issue with finance ministry: Secretary The Department for Promotion of Industry and Internal Trade (DPIIT) has taken up the taxation issue of startups with the finance ministry, a top government official has said. “Startup India does provide such policy advocacy, particularly on the taxation issue. We have been taking that particular issue that ...

Credit card expenditure in forex to come under RBI’s remittance scheme Spending in foreign exchange through international credit cards will be covered under the RBI’s liberalised remittance scheme (LRS), under which a resident can remit money abroad up to a maximum of USD 2.50 lakh per annum without the authorisation of the Reserve Bank, as per a Finance Ministry ...

Irdai forms task force to facilitate ease of doing KYC using Aadhaar Regulator Irdai has constituted a task force to facilitate ease of doing Know Your Customer (KYC) by insurers using Aadhaar, the 12-digit individual identification number. In a circular, the Insurance Regulatory and Development Authority of India (Irdai) said presently, the UIDAI framework allows insurance companies to ...

SBI Funds Management gets RBI’s nod to acquire 9.99% stake in HDFC Bank RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast to 6.8% RBI MPC: Here is what experts have to say about the policy announcement HDFC Bank: Analysts see muted profit growth in Q4 amid higher provisions HDFC Bank shares fall post Q3 as ...

Banks express concern over high overnight funding costs, ask for RBI’s help By Dharamraj Dhutia and Siddhi Nayak MUMBAI (Reuters) – Indian banks put forth their concerns over elevated overnight rates at a money markets association meeting last week and have informally asked the Reserve Bank of India to help manage liquidity, senior treasury officials said on Wednesday. ...

UP govt hikes DA by 4%: How much salary will increase after Dearness Allowance is hiked [ad_1] The Uttar Pradesh government has hiked dearness allowance (DA) for its employees and dearness relief for pensioners by 4% from January 1, 2023. On Tuesday, Chief Minister Yogi Adityanath said it would benefit 16.35 lakh employees and 11 lakh pensioners in UP. The ...

HDFC launches India’s first mutual fund focused on defence sector HDFC Asset Management Company Ltd on Tuesday announced the launch of the country’s first mutual fund focussed on defence sector, a move that will provide investors an opportunity to participate in growth potential of this space. The new fund offering (NFO) of HDFC Defence Fund, an open-ended equity ...

Irdai relaxes norms for surety bonds to expand market for such products Regulator Irdai on Tuesday said it has relaxed norms for ‘surety bonds’, a type of insurance policy protecting parties involved in a transaction or contract from potential financial losses due to a breach of contract or other types of non-performance. The changes are aimed at expanding ...