This interest range for the bank to choose from is termed a spread. This spread is left to the discretion of the bank and depends on the other factors involved in loan eligibility like the credit profile of the loan consumer for instance. According to RBI regulations, banks are required to make changes in existing… Read More »
The most positive take away from the BoP for 2008-09 is the Capital account. The FDI inflows and NRI deposits have shown tremendous growth implying a greater confidence in the Indian economy in the long term and gives us the confidence that we are on the right track albeit slowly. NRI deposits were at 4.3… Read More »
As much as the government’s expenditure is – looks like a simple answer. But the problem is that, the citizens (we) may not be ready to pay if the tax rate is very high. A major grey market (unaccounted money), may be created if the citizens do not want to pay taxes. The solution is… Read More »
Also since the tax can be paid in one shot at the time of tax returns filing, the business persons get to keep the tax amount with them-selves. Thus reducing the pressure on the working capital which is the life line of any business and more so for SMB’s. Compare that with the sales tax… Read More »
Banks feed in borrower data and personal information, which the CIBIL systems pool together. A control number is generated when banks pull out your credit report on a requirement basis. The control number is a unique number, which is generated every time any bank or credit institution pulls out a credit report on you. CIBIL… Read More »
Although the concern of my government and our electoral promises were based on the “aam-aadmi”, I have tried to focus more on the “gaon ka aadmi” (the Rural Indians). Ours is a country of villages and villagers and if there has to be growth we need to make them an integral part of our growth… Read More »
The only specific benefit for the salaried class in the budget is the scrapping of Fringe Benefit Tax. Companies may now be a bit more liberal with the perks offered to their executives. We can expect more on the ESOPS and Superannuation front as now they are free from the implications of the FBT.
Due to the effect of the FBT many companies started tightening the screws on the benefits given to the employees. Sometimes reasonable and sometimes highly unreasonable! In many professions especially like sales and marketing where the employees are motivated to work at lower salaries because the benefits made up for a lower salary, the hurt… Read More »
From a consumer point of view too this would bring about an improvement in the service levels of these companies as there would be more pressure on these companies to perform better and get profits. A visible effect is the change in attitudes of many PSU companies pre and post privatization. Housewives could find competitive… Read More »
The banks are fighting tooth and nail to get the government to agree to reduce the interest rates on the savings account which is already a measly (at least from the common man’s perspective!) 3.5%. The savings account rates are dictated by the Reserve Bank of India which is an indirect indicator of the government’s… Read More »