Since the NBFC crisis in September 2018 following a loan default by Infrastructure Leasing & Financial Services (IL&FS), annual deposit growth rose to 10.3 percent by June end from 8.1 percent since September last year.
To protect customers, the bank union wants the governor to ensure measures are in place to avoid any unjust practices by banks.
Bank deposits and fixed income mutual funds differ with each other on a key parameter.
The alleged Rs 3,700 crore ponzi scam was perpetrated by seeking fraud social media 'likes' from investors by the Noida-based firm.
Under 'Operation Clean Money', the I-T department had sent SMS and e-mails to 18 lakh people, who according to its data analysis had made suspicious deposits of over Rs 5 lakh during the 50-day window provided to get rid of old 500 and 1,000 rupee notes following the demonetisation decision announced on November 8.
As it analyses bank deposits post- demonetisation, the government has found that an estimated Rs 3-4 lakh crore of tax-evaded income could have been deposited during 50-day window provided to get rid of junked Rs 500/1000 notes.
Concerns have been raised following the announcement of advance gross domestic product (GDP) estimates at 7.1 percent for the first seven months as against 7.6 percent in the last fiscal. Chief Statistician TCA Anant says that higher growth would have been estimated if bank deposits after the roll-out of demonetisation would have been included.
Nearly a month after Prime Minister Narendra Modi announced the government demonetisation drive, close to Rs 13 lakh crore worth the now invalid currency notes has been deposited into the banking system, sources told CNBC-TV18.
Indian individuals spending in overseas property, bank deposits, equity, travel and payments to relatives has risen sharply in the last few months, raising questions on why the wealthiest of the world‘s fastest growing economy are moving billions abroad.
You have to carefully weigh the merits and demerits of each tax saving option available
Why not consider pausing your SIP in equity mutual fund, when the markets are quoting at frothy valuations.
The reply to a question raised in the Indian parliament revealed that deposits worth Rs 5,124.98 crores were lying unclaimed for 10 years or more, with scheduled banks. This is a huge amount, considering R
Each of these options has its own advantages. One should be assessing the tax liability before logging into one.
Here are some of the common errors Indians make. Avoid making these errors and you are half done.
One should know how a credit card against a fixed deposit works and use it judiciously.
Individual investors fill up Form 15G and 15H to avoid tax deduction at tax. However, one should take due care while submitting these forms.
While investing in fixed income instruments such as fixed deposits and debt funds, one must keep an eye on his tax rate.
PPF should continue to offer positive real returns. One should look at his goals and risk profile before investing.
Increased spending by individuals and more money being sent abroad are the two key reasons for shrinking deposits at banks, says SBI's Chief Economic Adviser Soumya Kanti Ghosh.
ICRA expects headline CPI inflation to ease further in March 2016, led by both food and core inflation, and print close to the RBI‘s target of 5.0% for March 2017. This would support the case for a 25 bps cut in the Repo rate.
Interest received on bank fixed deposits is fully taxable.
Start up is no fun. It requires financial prudence, failing which not only the business but also the personal life can go down the drain.
FMP offer tax efficient fixed income investing opportunities to risk averse investors.
These seven blunders cost a lot. If you take a note of them early in your life, there is a high possibility that you will achieve financial freedom.