Page 290 - Finance News
Now, I-T relief for leave encashment on retirement at 2.5 million
The increased limit for tax exemption on leave encashment on retirement or otherwise of non-government salaried employees to Rs 25 lakh with effect from April 1, 2023
 "Now, I-T relief for leave encashment on retirement at 2.5 million")
Invest severance package in debt funds, use SWP to create cash flows
Part of this money should also go into creating an emergency corpus equal to 12 months of expenses
 "Invest severance package in debt funds, use SWP to create cash flows")
Axis Bank launches Sarathi platform for easy PoS onboarding of merchants
The paperless onboarding procedure eliminates the need for merchants to fill out lengthy documents or wait for long periods of time to have their PoS terminals installed
 "Axis Bank launches Sarathi platform for easy PoS onboarding of merchants")
A snapshot of term insurance plans with 2 riders offered by various firms
Here is how the term insurance plan with two riders offered by various companies stack up
 "A snapshot of term insurance plans with 2 riders offered by various firms")
SBI penalised for sending bills to man despite credit card's expiry
A Delhi consumer forum has directed the SBI Cards & Payments Services Pvt. Ltd. to pay Rs 2 lakh to a person here for sending him bill even after his card's expiry
 "SBI penalised for sending bills to man despite credit card's expiry")
Restore transaction fee on RuPay cards: Banks request finance ministry
MDR is a fee charged to a merchant for the payment processing of debit and credit card transactions. It is also referred to as the transaction discount rate (TDR)
 "Restore transaction fee on RuPay cards: Banks request finance ministry")
Test : Rupees closes at 81.53 against US dollar amid heavy selling pressure
Test : On the another day, the rupee had slipped 2 paise against the US dollar
 "Test : Rupees closes at 81.53 against US dollar amid heavy selling pressure")
Public sector banks' total dividend payout 58% higher than in FY22: Report
Three out of 12 PSBs namely SBI, Bank of Baroda, and Canara Bank, declared a three-digit dividend during the year
 "Public sector banks' total dividend payout 58% higher than in FY22: Report")
Debit card-based ATM withdrawals up 235% since demonetisation: Report
The cash in circulation in the Indian economy has more than doubled since demonetisation
 "Debit card-based ATM withdrawals up 235% since demonetisation: Report")
RBI may need to buy $18 bn of bonds to replenish banking liquidity: ICICI
India's central bank may buy as much as 1.5 trillion rupees ($18 billion) of government bonds to replenish banking liquidity that's expected to tighten later in the year, according to a top banker.
 "RBI may need to buy $18 bn of bonds to replenish banking liquidity: ICICI")
Day 2 of Rs 2,000 note exchange has banks running out of cash for exchange
Some banks had to temporarily halt exchanges of Rs 2,000 currency notes as they waited for supply of currency notes to be replenished
 "Day 2 of Rs 2,000 note exchange has banks running out of cash for exchange")
Forex reserves at comfortable position to meet requirements: Piyush Goyal
India's forex kitty jumped $3.553 billion to USD 599.529 billion for the week ended May 12, according to the Reserve Bank of India
 "Forex reserves at comfortable position to meet requirements: Piyush Goyal")
War on inflation not over, we have to remain alert: RBI Guv Shaktikanta Das
Das said that India's GDP growth rate in FY23 may come out to be more than earlier predictions of 7%
 "War on inflation not over, we have to remain alert: RBI Guv Shaktikanta Das")
India was close to printing Rs 10,000 notes in 2016: All you need to know
India has already had Rs 10,000 notes as its highest denomination in the past
 "India was close to printing Rs 10,000 notes in 2016: All you need to know")
Withdrawal of Rs 2,000 to have favourable impact on deposits, says SBI
An SBI study on Tuesday said the withdrawal of Rs 2000 currency note is likely to be a non-event but it will have a favourable bearing on liquidity, bank deposits and interest rates.
 "Withdrawal of Rs 2,000 to have favourable impact on deposits, says SBI")
Indian banks in good shape, but early to call it too good: N S Vishwanathan
Ex-RBI deputy governor says banks need to sustain their current resilient structure
 "Indian banks in good shape, but early to call it too good: N S Vishwanathan")
Long queues in banks across Delhi as Rs 2,000 notes exchange begins
As process for exchange of Rs 2,000 currency notes began on Tuesday, long queues were observed at various bank branches in Delhi as customers eagerly exchanged currency notes for smaller denominations
Conservative investors eyeing regular income can opt dividend yield funds
Hold them for at least five years, and withdraw money via the more tax-efficient SWP route
 "Conservative investors eyeing regular income can opt dividend yield funds")
HNIs embracing passive funds on under-performance of active funds
"With commissions to distributors on equity schemes being much higher, the preference for distributing ETFs is much lower," it added
 "HNIs embracing passive funds on under-performance of active funds")
Google Pay allows UPI payments using RuPay credit cards; check details here
This feature is now available to RuPay credit card holders of Axis Bank, Bank of Baroda, Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, and Union Bank of India
 "Google Pay allows UPI payments using RuPay credit cards; check details here")