Govt may buy RBI’s stake in NABARD
Government of India may buy RBI’s stake in the National Bank of Agriculture and Rural Development (NABARD) in the next fiscal. The Government had allocated Rs. 1450 crore in this budget.
RBI says, more disclosures required about NPAs
RBI has said that the banks need to disclose more details about their Non Performing Assets (NPAs). The apex bank has said that an in-depth information is needed about the market workings of the banks, including the list of their main 20 depositors, 20 biggest borrowers, 4 biggest NPAs on the books of the banks… Read More »
Planning to revive your insurance policy? Here’s help
In order to prevent the lapsing of policy, it is advisable to keep insurance and investment. It has three-fold advantage. First, if you opt to cancel your policy, you don’t suffer any financial loss. Also it is simpler to track your investment. If you are ever in financial need, you can always redeem these investments… Read More »
Tax changes – 2008-2009 vs 2009-2010
This year there is an increase in the scope of Section 80E. Till 2008-2009, the interest paid on the education loan taken for graduate and post graduate (PG) programs in engineering, medicine and management, or for PG programs in applied pure sciences (including mathematics and statistics) could be deducted from your taxable income. But from… Read More »
Selling your property? Know your rights
You should be ready to hand over all the paperwork related to the property to the buyer, whenever asked. But you are exempted from this rule under 2 circumstances: either you have clarified in the agreement with the buyer that you’ll retain a portion of the property or you have sold the property to various… Read More »
Does a step-up home loan make sense for you?
The step-up scheme can be implemented in different stages. In certain instance there are 2 phases, one lower and other higher. In other cases, it is a gradual system. It can be carried out annually, after 5 years or at any time intervals. Some step-up schemes from certain banks offer fixed interest rate, but these… Read More »
Selling inherited gold? Pay tax!
To decide whether the gold is long or short term asset, find out how long have held it. If your holding period is over 36 months, it is considered as a long term asset, and accordingly long term capital gains (LTCG) tax rate is charged. If you have held it for less than 36 months,… Read More »
Gift Tax – The new rules
The gifts received in the names of one’s minor children will be clubbed with the parents’ income for taxation purpose. Also the taxman is very alert in saying that, in case of both parents having income, clubbing will be done with that parent who is earning more. So one cannot hide under the cover of… Read More »
Public sector banks to obtain Rs. 35,000 crores from center
Over the next 2 years, public sector banks will get Rs. 35,000 crores from Center. This measure has been taken in order to meet the credit needs of the economy. According to the RBI norms, at least 6% Tier I capital must be kept by the banks. The planned capital infusion will let the banks… Read More »
IDBI bank offers perpetual bonds to raise capital of Rs. 3,00 crores
IDBI Bank intends to raise Rs. 300 crore this month by issuing perpetual bonds. Mr. P Sitaram, chief financial officer, IDBI Bank said, “The amount raised will be to meet Tier-I capital requirement of the bank.” A perpetual bond is a bond without a maturity or redemption time. The holder of this bond can earn… Read More »