Arvind Ronta The government’s consistent push for financial inclusion and more digital payments has aided the cashless agenda in India. Debit cards have become a much preferred cashless payment method for a large chunk of people. Over the last four years, the number of debit cards has more than doubled and is expected to cross one billion in the near future. In fact, the low credit card penetration, characteristic of the Indian market, is further dwarfed by the sheer size of debit cards in the country. Does that mean that Indian consumers do not have an appetite for credit? Certainly not.Current consumer credit scenarioClose India has an increasingly aspirational and young population. In the last five years, retail loans have grown at a compounded annual rate of 16 per cent, buttressed by an expanding and ambitious middle class. The value of credit card transactions at point-of-sale (POS) terminals exceeds that of debit cards, especially as big-ticket purchases happen … [Read more...] about Viewpoint | Credit access to debit card holders, a potential game-changer for consumer spending
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Green shoots are already visible Finance Minister Nirmala Sitharaman said on December 2, asserting that the corporate tax cut would bring in fresh investments and generate jobs.When asked about reducing personal income tax to boost demand, Sitharaman said the government will "take action at an appropriate time" and added that tax benefits to individuals are reviewed periodically."People are approaching the government for fresh investment which will help to generate more jobs as well as make India a manufacturing hub in the future," she said on the corporate tax reduction.Close On December 3, the finance minister said the government is open to further reforms for making India a more attractive investment destination. related news Vishal Sikka joins Oracle's board of directors In Focus with Udayan Mukherjee | Can market maintain uptrend given weak macro environment? Explained: Why you should keep the AC at 24°C On concerns around slowdown, Sitharaman … [Read more...] about FM Nirmala Sitharaman to review personal income tax rates, says open to further reforms
A federal US commission on international religious freedom has expressed its concern over the Citizenship Amendment Bill, saying that it was deeply troubled over the passage of the bill in Lok Sabha.In a statement issued on December 9, the US Commission for International Religious Freedom (USCIRF) said that the Bill is a "dangerous turn in wrong direction" and sought American sanctions against Home Minister Amit Shah if the bill is passed by both houses of the Indian Parliament.According to the proposed legislation, members of Hindu, Sikh, Buddhist, Jain, Parsi and Christian communities, who have come from Pakistan, Bangladesh and Afghanistan, till December 31, 2014 facing religious persecution there, will not be treated as illegal immigrants but given Indian citizenship.Close "If the CAB passes in both houses of parliament, the US government should consider sanctions against the Home Minister Amit Shah and other principal leadership," the commission said. related news … [Read more...] about Federal US commission calls CAB ‘dangerous turn in wrong direction’, seeks sanctions on Amit Shah if Bill is passed
Love them or hate them! Well, you will probably love these three stocks if you had invested in them say in January 2019, and probably hate them if you missed out on the opportunity.These three stocks have been among the top return generators across three-month, six- month and YTD basis as well. Three stocks which top the charts include names like Bharti Airtel, Bajaj Finserv, and from the private banking space, ICICI Bank.Close They have delivered more than 40 percent return each to investors so far in 2019, and if commentary from experts is something to go by then there is still more upside left. related news Sebi is right in favouring clients over Karvy’s lenders Hot Stocks: Coromandel International, TCI Express may give up to 10% return in 3-4 weeks Data suggests that markets are favouring “turnaround” performers such as Bharti Airtel, and Reliance Industries. However, the past month’s trend is showing the market move towards companies with lower … [Read more...] about Lucky 3! These Nifty50 stocks outperformed in 2019; time to book profits?
The Citizenship (Amendment) Bill is not in violation of constitutional provisions, Home Minister Amit Shah asserted on December 9 night as he responded to a debate on the contentious legislation in the Lok Sabha.It will give relief to people living a painful life after facing persecution in neighbouring countries, he said.Had India not been divided on religious lines, there was no need for the Citizenship (Amendment) Bill, he said targeting the opposition Congress.Close The Bill is not violative of Article 14 of the Constitution as it aims to give citizenship to persecuted people, he said. related news Citizenship (Amendment) Bill in Rajya Sabha: Here’s how the numbers are stacked 11-hour Northeast bandh begins to protest against CAB Citizenship Bill in line with India's centuries old ethos of assimilation, belief in humanitarian values: PM Modi Replying to the Opposition's allegations that the proposed legislation is divisive in nature, Shah said that … [Read more...] about Citizenship (Amendment) Bill is not in violation of constitutional provisions: Amit Shah