Finance

SBI, PNB, Bank of Baroda Won't Be Sold To Private Firms; These 6 Govt Banks Kept Out Of Privatisation Amidst the ongoing two-day nationwide bank strikes, conducted by bank unions and employees, opposing the finance ministry’s decision…

An amendment to Insurance Act to increase FDI limit from 49% to 74% has been approved. Just over a month after unveiling of the Union Budget 2021-22, a proposal to amend Insurance Act, 1938 has been approved. FDI which was earlier…

Government aims to monetize 100 government-owned assets, which is likely to generate Rs 2.5 lakh crores. Amidst the ongoing wave of disinvestment of government-owned companies, Prime Minister Modi comes forward and speaks about the…

Sitharaman announces working with RBI in the process of privatizing two more public banks. Last week after the budget meeting, we informed you of the Finance Minister's plans of conducting the privatisation process for two more public…

Two more public sector banks and insurance companies will be privatised in FY22, besides IDBI bank. According to the budget speech presented by Finance Minister Nirmala Sitharaman yesterday, the government will conduct the privatisation…

Finance Minister Nirmala Sitharaman presented the Union Budget 2021-22. Here are major highlights from the speech for you to cover the budget in less than one minute. FM said India is poised to be a land of new hope. The new infusion will…

Disinvestment deals of FY21 to be shifted to FY22. The government had set an annual disinvestment receipts target of Rs 2.1 lakh crore for fiscal year 2021, of which only Rs 30,000-40,000 crore have been achieved, which is 14-19% of the…

Individual taxpayers can expect a tax savings between Rs 50,000 to Rs 80,000, in the upcoming Budget. Last week, we informed you of there being an expectation of increase in the current Income Tax exemption limit under Section 80C of…

BPCL disinvestment process: BPCL's estimated enterprise value reaches almost double its prevailing market value. On November  20, 2019, the Cabinet approved the strategic sale of the public sector oil and gas company, Bharat Petroleum…

Budget2021: 1st Time Ever, Budget Will Be 100% Paperless, Via App! How Will It Work? The preparation of the Union budget for the year 2021 is in its final stages. Ahead of the release of the Union Budget on 1 February, the ministry…

Yes Bank has launched a new imitative to strengthen the MSME sector in India, the YES MSME. The Mumbai-based private sector bank Yes Bank Limited has launched a new initiative to strengthen the Micro, Small and Medium Enterprises (MSME)…

The Income tax exemption under Section 80C under the ITA could be increased from Rs 1.5L to Rs 3L p.a., in the Union Budget 2021. In the country’s first paperless Union Budget to be conducted on February 1, 2021, Finance Minister…

Banks association and payments forums urge the Centre to restore the Merchant Discount Rates. Starting January 1, 2020, Finance Minister Nirmala Sitharaman announced for all businesses with an annual turnover of Rs 50 crore or more to…

The Currency in Circulation (CIC) has increased by 22% in 2020, as compared to the volume recorded in 2019. RBI has released important data, informing the growth in currency circulation by Rs 5,01,405 crore in a year’s time, between…

Bank of Baroda launches its Whatsapp Banking services, which will provide its customers with a series of banking support and services, right on their Whatsapp numbers. The public sector bank Bank of Baroda has taken another step towards…

Bank of Baroda launches the Digital Lending Platform, which will allow retail loan seekers to get loans digitally. The public sector bank Bank of Baroda has taken another step towards digitizing paperless bank services, by launching the…

Overhead ATM fee charged for unsuccessful transaction due to insufficient balance in savings balance, for different banks. Most of the time, we ignore checking our savings account balance, before debiting cash from an ATM. In this…

Banks have started providing doorstep services for customers. Learn all the services provided by them and the procedure to avail one. During such difficult times in pandemic, financial institutions have been working extra hard, now that…

Government introduces the new Rule 86B in GST Rules, as per which businesses will no longer be allowed to make use of input tax credit for discharging GST liability to 99%. In order to curb tax evasion by faking invoices, the Central…

Invest Rs 160/Day In This LIC Plan, And Get Rs 23 Lakh Tax Free On Maturity: Find Out More About LIC's Money Back Plan India’s largest life-insurance company LIC has now come up with a new money-back policy, branching into two types,…