Finance/Money

21 Apr

Leading Investment & Mutual Funds Distribution Company RD Investment bags Times Icons of Surat 2020-21

The News Horizon0 CommentsBusiness, Finance/Money, , , , , , , ,
Vyara, Gujarat: RD Investments based at Vyara in South Gujarat expertises in investment strategies. The company recently got featured as Times Icons of Surat 2020-21 in the category of Excellence in Mutual Funds Distribution. Founder of RD Investments Dhruvesh Shah believes that this acknowledgement has been a result of company’s client centric policies and trust of the clients in RD Investment. Here is a candid discussion with Dhruvesh Shah about RD Investment, it’s USP and future goals. What made you establish RD Investment? I felt that in my hometown Vyara, people were obsessed with bigger cities like Surat and Ahmedabad.…
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25 Feb

Embargo lifted on grant of Government Business to Private Banks

The News Horizon0 CommentsFinance/Money
New Delhi : The Government has lifted the embargo on private sector banks (only a few were permitted earlier) for the conduct of Government-related banking transactions such as taxes and other revenue payment facilities, pension payments, small savings schemes, etc. This step is expected to further enhance customer convenience, spur competition and higher efficiency in the standards of customer services. Private sector banks, which are at the forefront of imbibing and implementing latest technology and innovation in banking, will now be equal partners in development of the Indian economy and in furthering the social sector initiatives of the Government. With…
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25 Feb

India hosts First Meeting of BRICS Finance and Central Bank Deputies

The News Horizon0 CommentsFinance/Money, National,
New Delhi : India hosted a Meeting of BRICS Finance and Central Bank Deputies virtually here today and was co-Chaired by Shri. Tarun Bajaj, Secretary Economic Affairs, Ministry of Finance, and Dr. Michael Patra, Deputy Governor, Reserve Bank of India. Other participants included BRICS Finance and Central Bank Deputies of Brazil, Russia, China and South Africa. India assumed the BRICS Chairship in 2021, at a time when BRICS is celebrating its 15th anniversary. Under the theme BRICS@15: Intra-BRICS Cooperation, India’s approach is focused on strengthening collaboration through Continuity, Consolidation and Consensus. This was the first meeting on the BRICS Financial Cooperation…
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23 Jan

Final stage of Union Budget 2021-22 commences with Halwa Ceremony

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Finance Minister launches “Union Budget Mobile App” to provide easy and quick access to Union Budget information to all stakeholders The Halwa ceremony, marking the final stage of the Budget making process for Union Budget 2021-22, was held in North Block here today afternoon in the presence of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. A customary Halwa ceremony is performed every year before the “lock-in” process of Budget preparation begins. In an unprecedented initiative, Union Budget 2021-22 will be delivered in paperless form for the first time. The Union Budget 2021-22 is to be presented on 1st…
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01 Jan

Income Tax Department conducts searches in Kolkata

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Kolkata : The Income Tax Department carried out search and seizure action on two Kolkata-based Groups engaged in manufacturing & trading of Steel, trading of marbles & stones, food grains etc. The search action has resulted in unearthing of incriminating evidences revealing various shell entities being used for raising bogus share capital/unsecured loans, discrepancies in stock and out of the books cash transactions. The Groups have accepted that they used paper/shell companies to route back their own unaccounted money. A total concealment of income amounting to Rs. 178 crore has been detected so far including excess stock of Rs. 38…
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31 Dec

Extension of time limits for income tax returns

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In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (‘the Ordinance’) on 31st March, 2020 which, inter alia, extended various time limits. The Ordinance has since been replaced by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act. The Government issued a Notification on 24th June, 2020 under the Ordinance which, inter alia, extended the due date for all Income Tax Returns for the FY 2019-20 (AY 2020-21) to 30th November,…
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26 Dec

Income Tax Department conducts searches in Guwahati

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New Delhi : Income Tax Department started a Search and Survey action on 22.12.2020 in the cases of three leading contractors of North Eastern India. One of the groups is also into Hospitality business. The Search and Survey actions are being carried out at 14 locations in Guwahati, Delhi, Silapathar and Pathsala (Assam). The main allegations against the three groups are that they have taken accommodation entries in the form of non genuine unsecured loans and also securities premium from dubious Kolkata based shell companies. The three groups have suppressed their net profits across the years and routed back into…
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Indian Army signs MoU with Bank of Baroda for new ‘Baroda Military Salary Package’
22 Dec

Indian Army signs MoU with Bank of Baroda for new ‘Baroda Military Salary Package’

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New Delhi (PIB): Indian Army and Bank of Baroda have entered into a Memorandum of Understanding (MoU) for 'Baroda Military Salary Package'. The MoU was signed by Lt Gen Ravin Khosla, DG(MP&PS) and Shri Vikramaditya Singh Khichi, Executive Director, Bank of Baroda in presence of Lt Gen Harsha Gupta, Adjutant General, Indian Army who also chaired the meeting. The MoU lays down the basis on which banking services would be provided by Bank of Baroda to serving and retired personnel of Indian Army. Services under 'Baroda Military Salary Package' will be offered to serving and retired personnel of Indian Army…
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18 Dec

SBI Card and BPCL launch BPCL SBI Card OCTANE

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Designed to be India`s most rewarding premium fuel co-brand credit card Upto 25X Reward Points spends for BPCL Fuel, Lubricants & Bharatgas spends (Website & App only)* Comprehensive card offering accelerated savings across other major spend categories Mumbai (India) : SBI Card, India’s largest pure play credit card issuer, and Bharat Petroleum Corporation Ltd, a Maharatna Company and the second-largest petroleum company in India today announced the launch of the BPCL SBI Card OCTANE. The card has been designed to offer maximum savings to the well-heeled consumer segment which spends a significant amount on fuel. The BPCL SBI Card OCTANE…
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Kotak Reduces Home Loan Interest Rates to 6.75%
05 Nov

Kotak Reduces Home Loan Interest Rates to 6.75%

The News Horizon0 CommentsFinance/Money
Kotak Mahindra Bank Ltd (Kotak) today announced that it has reduced its Home Loan interest rates by a further 15 basis points(bps) to 6.75%* p.a. with effect from 1st November 2020. Kotak home loan and balance transfer loans now start at 6.75%* p.a., which is one of the lowest rates in the home loan market. The new normal has changed the functioning of the entire ecosystem. Interest rates at a 15-year low, developers significantly reducing residential property prices and having a ready inventory of ready-to-move-in homes and lower stamp duty. All these factors when taken together make home-buying at this…
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