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The Reserve Bank of India imposed fines on private banks ICICI Bank and Yes Bank because of their non-compliance. A fine of Rs 1 crore was imposed by RBI on ICICI Bank as it failed to comply with regulations related to ‘Loans and Advances – Statutory and Other Restrictions’. RBI’s inspection of ICICI Bank for […]
The Income Tax Department has urged the individuals to link their PAN with Aadhaar before May 31st, 2024 in order to avoid tax deduction at a higher rate. The Aadhaar-PAN linking is done automatically during the application stage for new applicants of PAN card. Existing PAN holders, who were allotted PAN on or before 01-07-2017, […]
With global tourism activities returning to pre-pandemic levels, World Economic Forum’s Travel & Tourism Development Index 2024 has placed India’s rank at 39th position. While the United States of America (USA) has topped the list, India has been ranked the highest in the entire South Asia. In the previously published WEF index in 2021, India […]
In India, treasury bills largely refer to short-term money sector instruments that act as promissory notes with the assurance of repayment in the future. The money accumulated through these money instruments is meant to help the government in its short-term requirements, thus contributing effectively to the decrease of the nation’s typical fiscal shortfall. Treasury bills […]
To simplify the process for claiming EPF benefits after the demise of a member, the Employees’ Provident Fund Organization (EPFO) has come up with a new rule. The field officers of EPFO were facing difficulties regarding the updation or rectification of Aadhaar details after the demise of its members. Hence, EPFO made a decision to […]
Muthoot FinCorp, on 21st May, 2024, announced its highest-ever loan disbursements in FY24 at Rs. 61,703.26 crore, which marked an 18.6 percent increase. Asset under management (AUM) of Rs 33,359.30 crore and a consolidated net profit of Rs 1,047.98 crore were reported by the company, which reflected a significant 62 percent rise. The company recorded […]
President of Iran Ebrahmin Raisi and his Foreign Minister Hossein Amir-Abdollahian were killed in a helicopter crash that took place on 19th May, 2024, in the East Azerbaijan Province. President Raisi had been at the Azerbaijani border for the inauguration of the Qiz-Qalasi Dam. He had been in office since 2021 and pledged Iran’s steadfast […]
The 9th Edition of 30 Under 30 Asia list by Forbes has been unveiled. This list highlights young entrepreneurs and leaders under 30 from Asia-Pacific region across ten categories. These categories are art, entertainment, sports, finance and venture capital, marketing and advertising, retail and e-commerce, enterprise technology, industry, manufacturing and energy, healthcare and science, social […]
Treasury bills are short-term debt instruments that the Government of India (GOI) issues to meet its borrowing requirements for short-term. On 17th May, 2024, The Reserve Bank of India (RBI) revised the calendar for the auction of GOI’s t-bills. Reserve Bank of India has announced the auction of GOI’s treasury bills as per the following […]
SBI has announced an increase in its fixed deposit interest rates for retail deposits (up to Rs 2 crore) Here are the latest SBI fixed deposit interest rates.(Rates in % p.a) Tenor : 7 days to 45 days Revised Rates for Public – 3.50 % p.a | Revised Rates for Senior Citizen- 4.00 % p.a […]