BUSINESS
SIP vs FD: Which is better for higher returns?
The following comparison between SIP and fixed deposits based on various aspects can help investors in making the right decision.
Income Tax Processing Time Slashed in Decade, Signaling Major Shift: FM
One of the major achievements of Prime Minister Narendra Modi's government is the large reduction in the average processing time of returns. As per Finance Minister Nirmala Sitharaman, it has come down from 93 days in 2013 to just 10 days now, facilitating quicker refunds.
RBI Chief Announces Reduction in Cheque Clearing Time from Two Days to Hours
He outlined a proposed shift to continuous clearing with 'on-realisation-settlement' under CTS. This approach, he added, will ensure same-day clearing of cheques on presentation, and the paying and receiving public at large will benefit by way of faster payment processing. Cheque truncation is a process whereby the physical movement of the cheque from the presenting bank to the paying bank branch is substituted by its electronic image. This image is sent to the clearing house with the included details of the MICR band, date of presentation, and the presenting bank information.
RBI Raises UPI Tax Payment Limit to Rs 5 Lakh
"UPI has evolved as the most preferred mode of payment because of its good system response and convenience. The limit for per transaction is presently Rs 1 lakh. It is, however, in many cases reviewed and revised from time to time based on varied needs, including capital markets, IPO subscriptions, loan collections, and insurance, medical, educational services," Das explained.
FPIs Channel Over ₹11,000 Crore into IT Sector in July, Reports NSDL
Interest in IT stocks by FPIs also follows hopes of a possible cut in interest rates by the US Federal Reserve in September, which, in turn, would encourage companies to spend more on IT. The IT stocks have been on an uptrend for the last one month too, with TCS gaining nearly 5 per cent, Infosys rising about 5.5 per cent and HCL Tech moving up by 3.5 per cent.
RBI Projects 7.2% GDP Growth Driven by Strong Urban and Rural Demand
Against this background, real GDP growth for 2024-25 is projected at 7.2 per cent, with quarterly growth rates of 7.1 per cent in Q1, 7.2 per cent in Q2, 7.3 per cent in Q3, and 7.2 per cent in Q4.
RBI Holds Repo Rate Steady for Ninth Consecutive Meeting at 6.5 Percent
It had paused the rate increase cycle in April last year after six successive rate hikes aggregating 250 basis points since May 2022.
PM Jan Dhan and Basic Savings Accounts Exempt from Minimum Balance Requirements: FM Sitharaman
She made this statement while replying to a question in the Rajya Sabha on the recovery of about ₹8,500 crore as penalties by public sector banks during the last five years from their customers for not maintaining minimum balance.
India's Job Market Sees 11% Growth in July, Led by Retail and Telecom Sectors
According to a report by talent platform foundit, formerly called Monster APAC & ME, there is also a slight 1 per cent MoM decline in hiring compared to June. That apart, job market still continues to be on growing trend.
Indian Stock Market Shows Robust Resilience and Strong Investment Pipeline: Jefferies
Recent reports indicate that US employers created 114,000 jobs in July, missing the estimate 175,000. However, the jobless rate climbed to 4.3 percent, a near three-year high.
Don't Miss
Advertisement