Blog

RBI Liberalised Remittance Scheme: How Indians can use LRS to invest, remit money abroad [ad_1] India has come a long way in liberalising foreign exchange transactions for its residents. Before 2004, transferring money overseas was a cumbersome procedure involving numerous approvals from the Reserve Bank of India (‘RBI’). The rationale behind these strict regulations was multifold. First, India closely watched ...

Solapur-based Laxmi Co-op Bank loses licence after failing RBI norms Solapur-based Laxmi Co-operative Bank ceased operations from Thursday after the Reserve Bank of India (RBI) cancelled its licence for not having adequate capital and earning prospects. The RBI has requested the Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra, to issue an order for winding up ...

Will you pay tax if child earns an income [ad_1] PAN card Yes, a minor can have a PAN card and his parents or guardian can apply for the same. In fact, if the minor’s tax returns are being filed independently, he will need to have other information like bank account details, income details, mobile phone number and e-mail account, ...

Microfinance disbursements slowed in Q1 FY23 after new regulations: MFIN Microfinance loan disbursement by non-banking companies and micro finance institutions (NBFC-MFIs) slowed down sequentially to Rs 22,745 crore in April-June 2022 from Rs 30,731 crore in January-March 2022 as lenders adapted to new regulatory norms. Yet, NBFC-MFIs were able to grow their gross loan portfolio (GLP) by ...

You can soon do Aadhaar offline KYC with two-factor authentication [ad_1] In order to increase Aadhaar usage and promote ease of living, the Unique Identification Authority of India (UIDAI) is working on a number of new initiatives to assist residents in using Aadhaar willingly for a variety of services. To create a novel user experience, this effort makes use of ...

EWS certificate: Who can get EWS certificate for government jobs [ad_1] The Department of Personnel and Training (DoPT) has issued a series of FAQs that may be useful when the responsible authorities issue Income & Asset Certificates to candidates. DoPT issued the FAQs on September 19, 2022. Who is eligible for EWS certificate in India? There is a provision for ...

Rupee hits new low against US dollar as Asian peers tumble on Fed rate view The Indian rupee dropped to a record low versus the U.S. dollar on Thursday, as Asian currencies declined on concerns over the pace and quantum of U.S. Federal Reserve’s policy tightening ahead. The rupee closed at a record low of 80.86 to ...

What is the PM Kisan 12 installment date? [ad_1] When will the 12th instalmentbe released? The 12th instalment amount of the PM Kisan will be released between September and November 2022. Typically, the first period lasts from April to July, the second from August to November, and the third from December to March. The government released the 11th instalment of ...

SBI least efficient in Asia-Pacific due to high cost-to-income ratio: Study State Bank of India (SBI) was the least efficient among its Asia-Pacific peers in the June quarter due to its high cost-to-income ratio and mark-to-market losses on its investment book, according to S&P Global Market Intelligence. SBI had the highest cost-to-income ratio of 71.06 per cent, ...

5 best bitcoin mining methods to earn passive income [ad_1] With the recent market capitulation causing the price of BTC to tank, you would be forgiven for thinking that mining Bitcoin is a non-profitable endeavor. However, you might be surprised to learn there are still a large number of projects which continue to pay out mining profits to their customers. ...