In the Budget for 2024-25, Union Finance Minister Nirmala Sitharaman had announced a comprehensive review of the Income Tax Act, with an aim to make it concise, lucid and easier to understand. According to Sitharaman, with these reforms, the Finance Ministry aims to reduce disputes and litigation, providing tax certainty to taxpayers. While all of … Read more
The Government of India has announced the Unified Pension System (UPS), a new pension scheme for employees working for the government. The new scheme will provide a secure pension plan that will benefit nearly 90 lakh pensioners who are dependent on the central government. The central government launched the UPS to meet the demands of … Read more
Are you tired of your mutual fund distributor ignoring your calls or providing poor service? It’s time for a change. But unlike switching supermarkets, switching mutual fund distributors (MFDs) comes with some complexities. If not done correctly, your old distributor will continue to pocket fees from your holdings. Here’s how to make sure that doesn’t … Read more
Sovereign Gold Bonds (SGB): The Reserve Bank of India (RBI) has released a schedule for early redemption of Sovereign Gold Bonds (SGBs) issued between May 2017 and March 2020. The central bank plans to process redemption of 30 SGBs from October 11, 2024, to March 1, 2025. As per RBI guidelines, gold bond holders can … Read more
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Saturday approved the Unified Plan Pension system (UPS), which aims to provide assured pensions, family pensions and assured minimum pensions to government employees. Under the new plan, employees would receive a guaranteed pension equivalent to 50 per cent of the average basic salary earned during … Read more
Insurance premium: Non-life premiums grew by 9.3 per cent to Rs 29,032 crore in July 2024. This growth was significantly lower than the 13.6 per cent growth recorded in the same month last year. Sectors that contributed significantly to the growth of the sector were retail health insurance, motor damage insurance and crop insurance. Among … Read more
The annual accounts of the capital markets regulator SEBI (Securities and Exchange Board of India) over the past 10 years reveal that the use of the Investor Protection and Education Fund (IPEF) reached a historic low of ₹2.8 crore in FY24, reported Line of business. Meanwhile, IPEF’s expenses stood at ₹11.9 crore in FY23, ₹6.8 … Read more
Salman Khan MoviesExcel Films and Tiger Baby Films have hit the nail on the head with a three-episode show on Salim-Javed and their best collaborations in Bollywood. The show will air on Amazon Prime Video from August 20, 2024. When today’s reel-watching generation sits down to watch Sholay, which runs for 204 minutes (198 minutes … Read more
Banks will remain closed on Monday, August 26 in certain parts of the country due to Janmashtami as per the Reserve Bank of India (RBI) guidelines. Banks will be closed in Ahmedabad, Bhopal, Bhubaneswar, Chandigarh, Chennai, Dehradun, Gangtok, Hyderabad (Andhra Pradesh and Telangana), Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Patna, Raipur, Ranchi, Shillong, Shimla and Srinagar. … Read more
Banks will be closed today, August 24. Banks are usually closed on the second and fourth Saturday of every month and open on the first and third Saturday of every month. August 24 is the fourth Saturday of the month and therefore banks will be closed on that day. According Reserve Bank of India (RBI), … Read more
