Vishnu is a 40-year-old IT professional who invested in fixed deposits and a few insurance products through most of his early adult life. Given the current situation of low returns on fixed deposits, he has been pondering about investment in mutual funds for potentially better returns that could multiply his wealth. Being a novice about …
The Goods and Services Tax (GST) system in India mandates that certain registered taxpayers, specifically those required to deduct Tax Deducted at Source (TDS), file GSTR-7 returns every month. The return captures the details of TDS deducted, paid, and payable, including any refund claims. While filing GSTR-7 is necessary for taxpayers involved in TDS deductions, …
Every one of us has a little activist within us, urging us to stand up for what is right. At the heart of these values lies the concept of human rights—fundamental freedoms and protections that belong to every individual, regardless of their background, nationality, or identity. Human rights, as outlined by the United Nations in …
Central banks across the globe purchased 60 tonnes of gold in October 2024, according to the World Gold Council (WGC). The Reserve Bank of India (RBI) led the buying spree, adding 27 tonnes to its reserves. India’s Gold Reserves Hit 882 Tonnes With the October addition, India’s gold reserves now stand at 882 tonnes, of …
The RBI (Reserve Bank of India) will declare its decision on the interest rate today at 10 AM. The announcement follows a 3-day meeting of the Monetary Policy Committee (MPC), chaired by Governor Shaktikanta Das. Economists foresee that the central bank will maintain the repo rate at 6.5%, unchanged since February 2023. Some adjustments to …
The NITI Aayog has pointed out that India has had limited success in benefiting from the “China plus one” strategy, with countries in Southeast Asia, including Malaysia, Thailand, Vietnam, and Cambodia, reaping more benefits as businesses shift away from China. Global Protectionism and Trade Challenges NITI Aayog highlighted a growing trend of protectionism among major …
Under the PM Vidya Lakshmi Scheme, the government has introduced a mission-mode mechanism to extend education loans to students. This initiative targets those who gain admission to the top 860 Quality Higher Educational Institutions in India. This move aims to assist over 22 lakh students annually, ensuring that no deserving student is left behind due …
Originally introduced in 2022, the framework for facilitating small-value digital payments in offline mode allowed for offline transactions with an upper limit of ₹500 per transaction. It also set a total limit of ₹2,000 for a payment instrument at any time. However, recognising the growing adoption of UPI and the need to foster greater financial …
The weakening of the Indian rupee (INR) against the US dollar (USD) is affecting different industries in varying ways. While some sectors face challenges, software exporters are optimistic about gaining from this trend, especially since a significant portion of their revenue comes from overseas contracts, mainly in North America. Boost for IT Companies The recent …
Launched on March 31, 2023 as part of the ‘Azadi ka Amrit Mahotsav’ celebrations, the Mahila Samman Savings Certificate Scheme (MSSC) aims to foster financial independence among women and minor girls. With over 43 lakh accounts opened as of October 2024, the scheme underscores the Government of India’s commitment to financial inclusion and women empowerment. …
