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Finance Minister Nirmala Sitharaman on December 10 said in Rajya Sabha that the RBI had no objection to issuance of electoral bonds through the State Bank of India (SBI).Replying to a supplementary during the Question Hour on electoral bonds through the SBI, the Finance Minister said the Reserve Bank of India (RBI) being a stakeholder was involved in extensive consultations with the government at the stage of conceptualisation."During the consultation process they had questions about the particular platform for its issuance as to who is going to issue. And also the proforma with which it is going to be issued.Close "These consultations were recorded but at the end of it as long as the bonds were going to be issued by the SBI, they did not have any objection," Sitharaman said. related news TRAI issues public notice on revised MNP process; new norms effective from December 16 India, Australia move closer on Logistics Support Agreement, discuss situation in Indo-Pacific: … [Read more...] about RBI had no objection to issuance of electoral bonds through SBI: FM Sitharaman

Juzer GabajiwalaTaxation plays a vital role in any investments as capital gains and interest earned on the investment are reduced to the extent of taxes paid. Ultimately, what matters to the investors is what is left in hand after taxes are paid.It is, therefore, imperative for the investors to know about the impact of taxation on earnings from investments. Our current topic is on debt mutual funds and the taxation applicable to them.Close The capital gains tax to be paid on mutual funds depends on the type of investment (equity/debt) and the duration of time for which the investment is held.Juzer GabajiwalaDirector|Ventura Securities Picking the best mutual fund: Are past returns relevant after re-categorisation?Take the SIP route for equity mutual funds amid volatility, keep 3-5 yrs horizonInternational funds: Key to achieving geographical diversificationThe table below shows the long-term capital gains (LTCG) tax details for debt and equity funds:Assuming a debt fund generates a … [Read more...] about How tax is calculated on debt mutual fund investments

The rupee pared initial losses and settled 16 paise up at 71.04 against the US dollar on December 9 amid softening crude oil prices and weakening of the greenback vis-a-vis other currencies overseas.Fresh foreign fund inflows and positive developments on the US-China trade front also propped up the local unit, forex traders said.At the interbank foreign exchange market, the rupee opened at 71.24 against the US dollar. During the day, the domestic unit fluctuated between a high of 71.02 and a low of 71.27 and finally ended the day at 71.04 against the US dollar.Close On Friday, the rupee had settled at 71.20. related news Sterlite Technologies, IIT Madras sign pact for 5G advancement Issue of non-payment of salaries to HPCL employees raised in Rajya Sabha AGR imbroglio | DoT asks telcos to pay dues on time, clear doubts by Dec 13: Report "The strength in Asian peers also supported rupee gains. Asian currencies rose as concern about trade tensions eased, with President Donald … [Read more...] about Rupee darts up 16 paise to 71.04 against USD

In 1985, the Government of India introduced a public housing scheme called Indira Awas Yojana. The chief objective of this scheme was to construct houses for the deprived sections residing in rural areas.  In 1996, the project was taken under the aegis of the Ministry of Rural Development and aimed at eradicating rural poverty and empowering the people residing in rural areas through various development programs. From April 1, 2016, Indira Awas Yojana was restructured to become a part of the Pradhan Mantri Awas Yojana, a flagship project of the Government to provide affordable housing for all sections of the society. Pradhan Mantri Awas Yojana has two categories:  Pradhan Mantri Awas Yojana Urban and Pradhan Mantri Awas Yojana Gramin.The mission of PMAY Gramin is to provide pucca houses equipped with basic amenities to every homeless person and those who currently reside in Kutcha and dilapidated homes by 2022. Features of Pradhan Mantri Awas Yojana GraminFollowing are … [Read more...] about Pradhan Mantri Awas Yojana Gramin: Types, eligibility, features and benefits

South Indian Bank share price shed more than 1 percent in the morning trade on December 10 after India Ratings and Research revised the company’s rating.India Ratings gave IND A+ rating with a negative outlook on the company's Lower Tier II bonds and Tier II bonds (Basel III compliant) of Rs 1,490 crore.The rating revision reflects a higher proportion of stressed assets to net worth, subdued profitability along with lower provision coverage compared to peer banks, thereby increasing the importance of raising tier 1 capital in the medium term.Close At 1118 hours, South Indian Bank was quoting at Rs 10.62, down Rs 0.14, or 1.30 percent, on the BSE. related news Motilal Oswal cuts L&T target price on lower growth expectation D-Street Buzz: IT stocks drag led by TCS; Zee Ent falls 3%, Indiabulls Housing most active The share touched its 52-week high of Rs 18.55 on April 8, 2019 and 52-week low of Rs 8.50 on October 15, 2019.It is trading 42.37 percent below its … [Read more...] about South Indian Bank share price declines on rating revision