RBI Extends the Deadline for Auto-Debit Rules till September 30: What Is It Need? What Will Be Its Impact On Customers?

RBI

The Reserve Bank of India (RBI) has decided to extend the deadline for the banks to migrate to the new framework of auto-debit transactions by six months to September 30, 2021. Earlier, the deadline was set to expire on March 31, 2021. The RBI decided to extend the deadline because the new framework was not fully ready and implemented by the banks. The RBI doesn’t want customers to undergo scams and fraud activities. Below is a simple explanation of this new rule and related queries that what steps the banks…

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Jeff Bezos Decided to Step Down as CEO: Andy Jassy to be The Next Successor

Jeff Bezos

Finally, it has been official that billionaire Jeff Bezos, who founded Amazon nearly three decades ago, is ready to step down as the CEO in the third quarter of 2021 and Andy Jassy is going to be his successor. The announcement was made by Amazon on Wednesday, February 3, 2020, that sales hiked to 38 percent ($386.1 billion) as compared with $280.5 billion in 2019. This was surprising news that the company jumped to a 38 percent increase in 2020, that is, during the time of the pandemic. Jeff Bezos,…

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FM Nirmala Sitharaman presents the Union Budget for 2021-2022, find out the major announcements here

Union Budget

Finance Minister Nirmala Sitharaman presented the Union’s Budget for 2021-2022 at the Lok Sabha, today. Right from the common man to the major sectors like health and automobile, everyone had high expectations from this year’s budget presentation. Let us find out who-got-what from the 2021-2022 budget. Senior citizens exempted from ITR-filing obligation The Finance Minister has provided great relief to the senior citizens. Now, the senior citizens (above 75 years) will not be compelled to file the ITR. In short terms, pensioners above 75 years are exempted from mandatory income…

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The Case for Higher Standard Deduction from the Union Budget 2021

Union Budget 2021

January 27, 2021: In July 2019, the finance minister Nirmala Sitharaman had presented her union budget, which was the first Budget of the Second term of the NDA. She had raised the standard deduction of paid employees from to 50,000 from 40,000. What is this standard deduction and why is it important? This deduction is a fixed amount that is deducted from an individual’s taxable income.  It can be done by the government in order to hand more money to the taxpayer, especially after the Covid-related lockdowns, and a significant increase in this…

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Finance Minister Launched Union Budget Mobile App: Get Quick Access to Paperless Budget 2021 on Feb 1

Union Budget

On Saturday, January 23, Finance Minister Nirmala Sitharaman made a big announcement regarding the launching of the Union Budget mobile app ahead of Union Budget 2021-22. The mobile application is available for both and Android and iOS devices and it is designed to provide information on the union budget to various stakeholders including citizens of India at the click of an option. All the information in the application will be accessible after the completion of the budget speech by the Finance Minister in the Parliament on February 1. National Informatics Centre (NIC)…

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The Indian Railway Finance Corporation(IRFC) IPO set to Open Its Services

IRFC IPO

The Indian Railway Finance Corporation(IRFC) IPO which is owned by the State is all set to open to the public today, and its premier public offering for subscription will last from January 18 to January 20, 2021.  The first IPO launch of 2021 so far, Indigo Paints will soon open their IPO in the upcoming week as well. Here are a few issues that are raised with the opening of these IPOs: Objectives The total proceeds from the latest issue are set to be used for augmenting the equity capital base…

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EPFO Circular 2020: Priority Claim Settlement Clause Issued to PF Offices

EPFO

EPFO along with the Ministry of Employment and Labor issued a new circular on 17th October 2020 with an important update. Now, if you’re some who has been a part of the Provident Fund scheme then it’s important for you to know about the new notification. The new circular was released in was subjected “Settlement of death claims on priority basis in the industrial incident, etc.”. Now, the subject line might have not given that much light to the topic at hand but let’s explain it to you further on.…

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Modi government giving opportunity to buy cheap gold with discount from today, know these 10 things

Modi Gold

Investments can be made in gold bonds from October 12 to 16 The price of gold per gram has been fixed at Rs 5,051. Today, from October 12, there will be an opportunity to buy Sovereign Gold Bond (Gold ETF) once again. Investments can be made in gold bonds from October 12 to 16. Under this, the price of gold per gram has been fixed at Rs.5,051. Those who apply for these online and pay through digital payment will get a discount of 50 rupees per gram. Earlier, an issue…

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Loan EMI Moratorium- Relief for the common man, the government will soon decide the exemption on EMI

home loan

The Central Government can make its statement in 2-3 days to end the interest charged and to increase the period of moratorium according to different areas. Hearing has been postponed again in the Supreme Court in the case of Lone Moratorium. The central government has asked for more time for a decision on this, after which the Supreme Court has postponed the hearing till 5 October. The Center has sought 3 days more time from the court on Monday. The government needs some more time to keep the details in…

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Want To Make Premature Exit Or Partial Withdrawal From Your PPF Account? Check Rules Here.

The Public Provident Fund (PPF) is among the most popular long-term capital-generating saving strategies offered by banks. PPF enables you to make partial withdrawals before the end of the maturity tenure of 15 years. In some circumstances, premature withdrawal or exit can also be requested by the PPF account holder. PPF, however, has set some premature exit and partial withdrawal guidelines that you need to remember. Well, let’s look at it.   PPF guidelines applied for making a partial withdrawal Generally, withdrawals are allowed within the maturity term of 15 years…

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