Rupee dips tracking Asia FX, eyes US Fed chief testimony this week By Sethuraman N R BENGALURU (Reuters) – MUMBAI, June 19 (Reuters) – The Indian rupee ended little changed against the dollar on Monday, shrugging off weak regional cues as traders sought further clarity on the outlook for interest rates in the U.S.   The ...

Withdrawal of Rs 2000 notes is win for real estate, gold, consumer durables The withdrawal of Rs 2000 notes has seen throngs of customers flocking to malls, jewellery stores, petrol pumps, while real estate experts have seen a spurt in land deals and secondary market apartment sales.   On 19 May 2023, RBI decided to withdraw the Rs 2000 denomination banknotes ...

Net inflows into equities decline to a 2-yr low: What should investors do? Even though total assets under management (AUM) for the mutual Fund (MF) industry rose 3.8 percent in May 2023 to its new high of Rs 43.2 lakh crore,  redemptions also spiked 36.6 percent  month-on-month to Rs 31,100 crore, consequently taking the overall net inflows to a two-year low ...

RBL aims to expand NIMs; credit cards, MFIs to outpace loan book growth RBL Bank is targeting to expand its net interest margin (NIM) to over 5.2 per cent by the end of FY24 by upping the share of higher-yielding assets in its loan book, a top official has said. The private sector lender will continue to maintain ...

When is money gifted not taxable? All your tax queries on gifts answered Gifts up to Rs 50,000 in a year are exempt from tax in India. In addition, gifts from specific relatives like parents,  siblings, grandparents are also exempt from tax. Tax on gifts in India falls under the purview of the Income Tax Act . Are gifts in ...

PFRDA plans to introduce SWP under NPS by Sept: chairman Deepak Mohanty Pension fund regulator PFRDA plans to come out with a systematic withdrawal plan which will provide flexibility to pension account holders to withdraw a lump sum fund as per their choice on completion of 60 years. “It is at a very advanced stage. Hopefully, by the ...

Everything to know about the Sovereign Gold Bond scheme that opens today The first tranche of sovereign gold bonds (SGBs), issued by the Reserve Bank of India, will be available for subscription from today until 23 June.  SGBs are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price ...

Insurance claim: Cyclone Biparjoy: Insurance claim payments to be disbursed at the earliest, says Irdai [ad_1] The Insurance Regulatory and Development Authority of India (IRDAI) has asked life insurers to take necessary steps for quick claim settlement of insurance claims in all states affected by cyclone Biparjoy. Cyclone Biparjoy is predicted to do significant damage to infrastructure and property (including ...

Irdai fine-tuning Bima Sugam, likely to miss its August launch date The launch of the much-touted affordable insurance product Bima Sugam is likely to be delayed beyond August timeline as regulator Irdai is working on fine-tuning the product, which will help deepen insurance penetration and simplify the claim procedures. Bima Sugam once launched will serve as an online ...

What if you miss Aadhaar-PAN linking deadline? Here’s what I-T dept says There are only a few weeks until the deadline for taxpayers to link Aadhaar card with their Permanent Account Number (PAN) card expires. The Income Tax (I-T) Department extended the deadline until June 30. However, it imposed a fine of Rs 1,000 for taxpayers who apply for ...