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The Insurance Regulatory and Development Authority of India (IRDAI) has directed life and general insurance companies to extend cover to certain identified Gram Panchayats. This has been made mandatory under IRDAI’s master circular on rural, social and motor third party obligations (dated 10.05.2024) issued under Section 34 of the Insurance Act, 1938, Section 14 of […]
In the successful economy of any country, the role of taxes is quite crucial. Whether you are a salaried individual or a businessman, you are governed by the applicable tax laws set by the government. The government does not only update these regulations from time to time, but it also makes provisions to help taxpayers […]
In March, the Election Commission had announced the schedule for the Lok Sabha Polls. As initially planned, the elections are being held in 7 Phases of Voting. Out of these 7 Phases, Phase 1, Phase 2 and Phase 3 are completed. 7 Phases of Voting Phase 1 began on 19th April and covered 102 Constituencies […]
Shri R. Lakshmi Kanth Rao has been appointed as the new Executive Director (ED) of the Reserve Bank of India (RBI) with effect from 10th May, 2024. Shri Rao had been serving as the Department of Regulation’s Chief General Manager-in-Charge prior to being appointed as the RBI’s ED. Shri Rao carries with him an experience […]
Criminals take ‘dirty money’ and effectively ‘clean’ it to make it seem like they have legitimately earned the money. This process is known as Money Laundering. When the criminals make money, they need to disguise how and why the money came into their hands. Money laundering enables them to do this by making it seem […]
For any nation, the depreciation of their currency can have far-reaching effects on its economy as well as trade relationships. When we talk about the Indian rupee, its fluctuating value against major foreign currencies has been a matter of concern and interest for the policymakers, entities and the general masses in India. In the year […]
The US Dollar is viewed as the strongest and most-traded currency in the world. However, it is not the most expensive currency in the world. There are 9 currencies which are of a higher value than the US Dollar. In this article, we will take a look at the Top 10 Highest Currencies in the […]
Hindu Undivided Family (HUF) is considered as a separate legal entity. Due to this, forming a HUF can be an effective tax-saving mechanism for your family. A HUF has its own PAN and files ITR separately from its members. Not only Hindu families, but also Jains, Sikhs and Buddhists can form HUFs. In this article, […]
Buying a home is a big-ticket investment as people sometimes spend their life’s earnings to buy a home. Considering the scenario of rising inflation and a growing real estate market, the cost of owning a home has increased manifold. And, this is why most home buyers in India resort to taking a home loan to […]
Employee Provident Fund (EPF), also known as PF (Provident Fund), is a mandatory savings cum retirement scheme for employees that are employed under an eligible organization. According to the EPF rules, the employees are required to contribute 12% of their basic monthly salary to this fund. The amount deposited in PF accounts earns interest on […]