[ad_1] The Reserve Bank of India (RBI) recently instructed banks and credit information companies (CICs) to update the credit information they collect at shorter intervals, i.e. once a fortnight rather than once a month. The instructions were issued on Thursday via a notification after the monetary policy statement by RBI Governor Shaktikanta Das. The central…
[ad_1] Fixed-income investments such as fixed deposit (FD) interest, bond interest, and debt mutual funds are typically taxed at the marginal rate (slab rate). The 2023 budget had abolished the benefit of long-term capital gains tax or LTCG for debt mutual funds. However, there’s a notable exception in the tax system for certain bond transactions….
[ad_1] Globally, monetary policy is at an interesting crossroads. In contrast to rising interest rates during 2022 and 2023, central banks of several developed and emerging economies have lowered policy rates of late (e.g., UK, euro zone, Canada, Sweden, Switzerland, China, Brazil), some have even hiked (e.g., Japan, Russia, Indonesia, Egypt), while a large number…
[ad_1] As part of its test run, it launched two kinds of CBDC in late 2022: a CBDC-W (wholesale) for settlement of secondary market transactions and a CBDC-R (retail) to be used as a digital version of fiat money. This is a sovereign currency. While money transferred through digital platforms such as UPI is a…
[ad_1] The Reserve Bank of India (RBI) on Thursday said 97.92 per cent of the â‚ą2,000 banknotes in circulation have been returned to the banking system. The total value of â‚ą2,000 banknotes, which was â‚ą3.56 lakh crore on May 19, 2023, when the withdrawal was announced, has declined to â‚ą7,409 crore, the central bank said….
[ad_1] The Reserve Bank of India (RBI) imposed fines on payment system operators Visa Worldwide, Ola Financial Services and Manappuram Finance for deficiencies in regulatory compliance. The central bank imposed a penalty of â‚ą2.4 crore on Visa Worldwide Pte Limited, â‚ą41.5 lakh on Manappuram Finance Limited and â‚ą87.55 lakh fine on Ola Financial Services in…
[ad_1] Mumbai: ICICI Bank expects a compression of 10-14 percentage point in its liquidity coverage ratio (LCR) from the Reserve Bank of India’s recent guidelines, senior officials of the private lender said in a call with analysts after the June-quarter earnings on Saturday. Last week, the RBI came out with draft guidelines asking banks to…
[ad_1] Mumbai: Bajaj Finance’s loan loss provisions surged in the first quarter (April-June) of this financial year, driven largely by muted collections and higher provisioning requirements for ageing delinquencies. This, the Pune-based non-bank lender said, has prompted it to now focus on improving its collection efficiency, which indicates the proportion of a loan’s repayment amount…
[ad_1] Earlier this year in January, the Reserve Bank of India’s flexible inflation targeting framework completed a decade as the primary determinant of Indian monetary policy. Informally adopted in January 2014 and officially in 2016, the framework has been the subject of considerable debate over the last few years. There really are two branches to…
[ad_1] Mumbai: The government needs to explore options such as tax benefits to encourage individuals to keep more money in bank deposits, said Ashwini Kumar Tewari, managing director of State Bank of India, adding to the chorus on India’s worst deposit crunch in two decades. “We have to think through various things, what are the…
