Many large banks, including SBI, HDFC Bank, and ICICI Bank, have not revised their fixed deposit interest rates in recent months. The Reserve Bank of India’s(RBI) Monetary Policy Committee (MPC) meeting on October 4-6, 2023, will be watched closely to see how the FD rate situation develops. This is because the RBI has maintained status…
Filing of nominations by members is mandatory as per para 33, 34 and 61 of EPF Scheme,1952, according to the Employees’ Provident Fund Organisation’s (EPFO) website. Nomination is also necessary when submitting online Death Claims (Forms 10-D, 20 and 5-IF). During the EPF member’s service time, members can file and update e-nominations any number of…
New Delhi: Meta Platforms-owned instant messaging service WhatsApp has announced the launch of WhatsApp Channels in India and over 150 countries that will deliver private updates from organizations, sports teams, artists, and thought leaders that people can follow. WhatsApp Channels are a one-way broadcast tool within the app, the company said in a statement. “Excited…
New Delhi: Online retailer Amazon has come out with a big announcement on Rs 2,000 notes. The e-commerce giant has said that Rs 2,000 notes will no longer be accepted for Cash on Delivery (COD) payments or Cashloads starting September 19, 2023. “Yes, we are currently accepting Rs. 2,000 currency notes. Starting September 19, 2023,…
Shares of digital payments giant Paytm’s parent company, One97 Communications Limited, surged in early trade after the company shared its August business update. At 10:27 am, shares of the company were up 1.2 per cent at Rs 867.05 apiece on the National Stock Exchange. The company reported that it distributed loans worth Rs 5,517 crore…
The SBI’s latest research report has stated that it has analysed the EPFO payroll data trends for the last four years, net new EPF subscriber addition during FY20 to FY23 was 4.86 crore The research report further stated that the EPFO payroll data in the first quarter of the current financial year, the trend is…
Kolkata-based finance professional Chiranjoy Dutta earns well, but also pays a high tax because his salary is not tax-friendly and he doesn’t claim all the deductions available to him. TaxSpanner estimates that Dutta can reduce his tax by over Rs.1 lakh if his salary includes some tax-free allowances, and he opts for the NPS benefit…
Earlier this year, Meta introduced Channels on WhatsApp. Since then, Channels have received several changes and updates along with new features to offer better user experience. Recently, Channels on WhatsApp received the ability to forward updates from channels and now the company has started rolling out advanced search filters for Channels. Advanced search filters for…
If your bank, employer or any other financial institution has deducted tax in the wrong financial year, then now you can resolve this issue directly through the income tax department. You will not be required to approach the tax deductor to get the issue resolved. The Central Board of Direct Taxes (CBDT) has notified Form…
The RBI’s vision is to leverage CBDCs as digital tokens for facilitating call money settlements within the interbank borrowing market, a critical component of the financial system. The Reserve Bank of India (RBI) is set to introduce a central bank digital currency (CBDC) in the country’s call money market, reported Reuters quoting an official. This…