BAMCEF UNIFICATION CONFERENCE 7

Published on 10 Mar 2013 ALL INDIA BAMCEF UNIFICATION CONFERENCE HELD AT Dr.B. R. AMBEDKAR BHAVAN,DADAR,MUMBAI ON 2ND AND 3RD MARCH 2013. Mr.PALASH BISWAS (JOURNALIST -KOLKATA) DELIVERING HER SPEECH. http://www.youtube.com/watch?v=oLL-n6MrcoM http://youtu.be/oLL-n6MrcoM

Tuesday, November 17, 2009

Calculate your tax!The STATE Has NO Right to Destroy the ASSETS of the Citizens, Taxpayers. Economics of Interest and Growth Rates Versus Problems of Money and Savings. Inflation is SIX percent Higher than Interest Rates!You have to Pay TAX when You

Calculate your tax!The STATE Has NO Right to Destroy the ASSETS of the Citizens, Taxpayers. Economics of Interest and Growth Rates Versus Problems of Money and Savings. Inflation is SIX percent Higher than Interest Rates!You have to Pay TAX when You WITHDRAW!


Troubled Galaxy Destroyed Dreams, Chapter 421

Palash Biswas


http://indianholocaustmyfatherslifeandtime.blogspot.com/

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RBI survey of analysts sees FY10 GDP at 6%

Economic Times - ‎8 hours ago‎
MUMBAI: Economists and analysts surveyed by the Reserve Bank of India (RBI) revised downwards India's gross domestic product projection to 6.0 per cent for ...

RBI, govt rethink exit from stimulus

Moneycontrol.com - ‎4 hours ago‎
The US may have technically come out of a recession recently and China may have posted a high 19% manufacturing growth just last month, but RBI Deputy ...

Is it time to consider tobin tax, wonders RBI governor

Moneycontrol.com - ‎2 hours ago‎
In 2006, when the first wave of capital infows hit Indian shores, then Reserve Bank of India (RBI) Governor YV Reddy wondered aloud if a tobin tax should be ...

RBI may hire external hands

Business Standard - Manojit Saha - ‎22 hours ago‎
For the first time in its 75-year history, the Reserve Bank of India (RBI) might hire professionals from outside for specialised activities such as ...

Union Bank CMD quizzed over Koda's Rs 991 crore deposits

Economic Times - ‎10 hours ago‎
17 Nov 2009, 0900 hrs IST, PTI MUMBAI: Income-Tax Department sleuths on Monday questioned Union Bank of India chairman and managing director MV Nair over ...

Subject foreign inflows to 2% tax: Assocham

Economic Times - ‎2 hours ago‎
Excessive foreign inflows into Indian equities is gradually becoming a cause of concern for policy makers, including the Reserve Bank of India, ...

India, Korea may be first to lift rates: Morgan Stanley

Economic Times - ‎15 hours ago‎
... inflation to average 4.5% in 2010, implying that the Reserve Bank of India (RBI) would likely hike policy rates by 150 basis points," the note added. ...

Mauritius buys two tons of IMF gold

Hurriyet Daily News - ‎1 hour ago‎
The Reserve Bank of India paid $6.7 billion for 200 tons from the IMF, according to a Nov. 2 statement. Gold has surged this year as the US currency ...

RBI absorbs Rs 927.40 bn via reverse repo auction

Myiris.com - ‎7 hours ago‎
The Reserve Bank of India (RBI) absorbed Rs 927.40 billion via 1-day reverse repo auctions on Nov. 17, 2009. However, repo auctions remained suspended for ...

RBI to issue circular on NPA provisioning soon

Business Standard - ‎Nov 16, 2009‎
PTI / New Delhi November 16, 2009, 18:52 IST The Reserve Bank of India (RBI) today said it will soon come out with norms for banks to augment the capital ...


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Calculate your tax!


By Neelima Shankar
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The time has arrived when you must be busy evaluating your taxable income. The income tax that one has to pay depends on the tax slab under which he or she falls. Interestingly the tax slabs are different as per your gender, so you need to be watchful of that as well. The tax slabs are changed at the time of budget announcement in February every year.


The Income Tax Act has categorized all income tax payers into 3 different types that include Ordinary Individuals, Female Citizens and Senior Citizens. The modified tax slab for the current fiscal (2008-09) stand as:

Taxable Income SlabTax RatesSurchargeEducation Cess

Upto Rs 1.5lakh (Ordinary Citizen)

Upto Rs 1.8 lakh (Female Citizens)

 Upto Rs 2.25 lakh (Senior Citizens or above 65 years of age)

Nil

Nil

Nil

Rs 1.5 lakh upto Rs 3 lakh

10%

Nil

3% on tax

Above Rs 3 lakh upto Rs 5 lakh

20%

Nil

3% on tax

Above Rs 5lakh upto Rs 10 lakh

30%

Nil

3% on tax

Above Rs 10 lakh

30%

10% on tax

3% on tax

The surcharge and the education cess are levied on the tax payable computed after considering the deduction under various sections of the income tax act.

For instance an individual has an annual income of Rs 6 lakh. His home loan interest payment is Rs 1,20,000 and his home loan principal repayment is Rs. 80,000. He has also paid a LIC premium of Rs. 20,000 and has bought a health insurance policy for himself worth Rs 10,000. At the same time investment of Rs 50000 is made on NSC and has also donated Rs 20,000. Let us now calculate his tax liability based on the slab.

http://www.rupeetimes.com/article/fixed_deposits/calculate_your_tax_2278.html


The STATE Has NO Right to Destroy the ASSETS of the Citizens, Taxpayers. Normally, I have been paying my Income Tax inspite of Saving it with Investment simply because the Tax Saved is Tax delayed as you may not avoid Taxation anyway, Direct Tax code has Justified my survival strategy.Since 2011, you have to pay delayed Tax thus while you withdraw form Proveident Fund, Insurance, MF and Savings!



Economics of Interest and Growth Rates Versus Problems of Money and Savings.Lower Interest Rates means Profit for the Corporates, FIIs Investing, Expoters who are interested in LOW Priced Rupee only to get better Foreign Exchange. But it means PRICES GO Rocketing. Facing Unprecedented Price Rise of Essential Commodities , RBI and FINMIN Never think to hike the Interest rates to control the market. Low interest rates means MORE Credit Business, More Demand, More Consumer Durables, More Housing, More Realty BOOM and so on. It means to Provoke the Consumers to place stakes on Inflated  SENSEX and its Volatile Risky Shares while you would NEVER be able to hold on for BULISH Market and the Bears ROB you at their will.

 Inflation is SIX percent Higher than Interest Rates!
You lose your Purchasing capacity as Cash is deposited and depend on Credit and Plastic Money for your Freedom and Sovereignity. Balance of Payament Lost and Borrowing continues. While the FREE Market Democracy Kills Your Asset in the Banks as your Savings inflicted with Inflation and Taxations remains HALF. Currency Value always degrades and the Promise of the RBI to pay a certain Amount against a NOTE is Neve defended.

Well, it does not effect the GRAFT Fed, STIMULUS injected, PAY CoMMIsionand DA Eligibles, Those whoare benefitted by BPL Card and other Welfare schemes, Share Players but Majority Masses out of this Peripherry and having Savings account are the LOSERS all the round.As the State Destroys our ASSETS saved at the end.

FGI supports demand for rewriting direct tax code

Federation of Gujarat Industries (FGI) here has supported the demand for rewriting the Direct Tax Code (DTC) and do away with changes

suggested in Minimum Alternate Tax proposals as it could spell doom for companies.

Addressing members of FGI, Mukesh Patel, a well known tax expert said that presently MAT is charged on book profits but the direct tax code has suggested it be charged on assets which would mean even loss making companies or those facing liquidation would need to pay the tax.

Patel said the new code would not only shun foreign investment coming into India but also drive away Indian entrepreneurs to greener pastures outside the country.

Patel said that the proposed MAT would hit Gujarat based companies like Sardar Sarovar Narmada Nigam Ltd (SSNL) which may face MAT liability of Rs 640 crore while a company like Adani Power may have to pay Rs 560 crore by way of MAT.

SSNL is a company created for raising funds to implement the ambitious Rs 40,000 crore Sardar Sarovar project which is not making any profit while Adani Power is creating assets for power projects which would materialise after many years, Patel pointed out.

Capital intensive projects, infrastructure ventures, undertakings in gestation period , loss making concerns, sick units, investment companies and even companies under liquidation would be hit hard by the proposed changes in MAT, Patel said

Manufacturing grows 200 per cent in tax evasion

17 Nov 2009, 0846 hrs IST, Deepshikha Sikarwar , ET Bureau
NEW DELHI: Tax department's search and seizure operations have revealed manufacturing to be a big tax evader in 2008-09 , just behind real

estate, indicating that the sector may have acquired a bigger play in the black or the cash economy.

Gems and jewellery, the other sector hit hard by the global demand slump, has also seen a sharp increase in the quantum of undisclosed income declared in searches.

There was an over 200% jump in undisclosed income admitted to by the manufacturing sector in 2008-09 , though in absolute terms it still remained well behind the real estate sector. The searches relate to evasion of direct taxes, mostly unaccounted income.

Real estate sector is always seen as a big generator of black money, as transactions values are often depressed to evade stamp duty and also absorb cash. This is largely the reason why the maximum number of evasion cases relates to the real estate sector— 123 in 2008-09 .

Not just direct taxes, the manufacturing sector has also been on the radar for excise evasion. Excise duties, a tax levied at the factory gate, have not grown at the same rate as the growth in manufacturing. Excise collections had peaked at Rs 1.23 lakh crore in 2007-08 and are budgeted at Rs 1.06 lakh crore in 2009-10 . In contrast, manufacturing has grown at over 9% in the four years to 2007-08 . In 2008-09 growth had dropped to 2.8%.

The proposed goods and services tax (GST) is expected to check evasion and help plug losses. However, in the case of direct taxes, the authorities have no option other than carrying out search and seizure operations based on generation of intelligence gathered through various sources.

"IT and financial services sector are generally dominated by multinationals and large Indian companies that have gone global and thus have high transparency standards. Manufacturing, which is still evolving in terms of global trends, still needs to work on transparency aspects," said Vikas Vasal, Partner, KPMG.

Lot of manufacturing is in the unorganised sector, which also makes tax evasion easier. Interestingly, Chandigarh and Lucknow have emerged as non-metro cities where high incidence of tax evasion has been reported.
Serious long-term money coming to India: Enam Sec
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Mkt environment critical to making profit: R Jhunjhunwala
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Mid-cap stocks on radar; SpiceJet, Amtek Auto up
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Closing bell: Nifty ends on flat note; ONGC, DLF down
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Kochhar on acquisitions, interest rates, strength of Indian banks

New Delhi, Nov 10: ICICI Bank Managing Director and Chief Executive Officer Chanda Kochhar today said there were no plans for acquisitions or mergers by the country's largest private sector lender and there was no proposal to change the interest rates structure.

''We have acquired two banks in the past, but there is no proposal for any acquisition or merger at present,'' Ms Kochhar said addressing a press conference on the sidelines of the India Economic Summit here.

She ruled out the possibility of increasing interest rates in the near future. ''Given the present scenario, interest rates will remain stable for some times.'' She was responding to a question that some banks have raised interest rates and whether the ICICI Bank proposes to follow suit and as to what is the interest rate outlook.

''We are looking at interest rates on a daily basis. It is a dynamic situation,'' she said.

She said the credit offtake was gradually picking up with larger quantum of loans being disbursed for home loans, car loans and corporate loans.

However, the offtake of loans in the infrastructure sector was not as much, even though underlying activity has started.

Ms Kochhar, however, said many of the projects which have been relegated to the backburner are now surfacing again with much more activity expected in the months and years ahead.

''By the end of 2012, there would be infrastructure projects worth 250 billion dollars,'' she said, adding that in the next 3-4 months, many corporates will complete financial closures for several projects.

Ms Kochhar was asked that much was made of the resilience of the Indian banking system in the face of recent financial global crisis, but what was the main weakness of the public sector and private banks.

She said each has its own strength and the two segments of the banking industry ought to take the best from each other.

While the public sector banks have the advantage of a large network, the private banks are better endowed with technology and introduction of new products, thus offering a better deal to the customers.

She said the origin of two different ownership of banks took place at different times.

While the public sector banks emerged many decades ago, the new private sector banks have come into their own in the last decade.

The winners will be those who create the physical infrastructure and add products, and innovations to the system.

The reason that the Indian banks could stave off a financial disaster was that they did not resort to reckless lending, nor introduce too much of innovation as the Western banks had done.

She said the Indian banks are well regulated, but most of all there was a system of self-regulation. For instance, they lent to housing projects only against collaterals and assured income returns against loans.

Ms Kochhar, who in a short period of time, has become an icon of the banking industry, being regularly interviewed on television channels, was asked about her background and her likes and dislikes.

She admitted that climbing the ladder had its problems. She said she came from a middle class background which was very strong on education and wanted that the children acquire sound and high education.

In line with these mores, she wanted her children to acquire knowledge and mount the ladder of education.

--UNI


Rising rupee sinks exports recovery hope

17 Nov 2009, 0241 hrs IST, Pradeep Pandey & Maulik Vyas, ET Bureau

MUMBAI: Indian exporters have been struggling to make the best of the turnaround in the global economy, with the rising rupee taking a toll on

the demand for their products. Exports continued to fall, down 11.4% to $12.5 billion in October, according to last week's official figures.

The number comes at a time when the Obama administration and other global leaders have been calling for China to allow its fixed currency (Yuan) to rise. China is one of the key competitors for Indian exporters, along with Vietnam, Bangladesh and Sri Lanka.

Exporters are, in fact, facing a double whammy, the recent rise in raw material costs adding to their pain. Cotton yarn and fibre prices have risen 10-12% in the recent past while gold prices have touched a new high.

The rupee, at 46.22 to a dollar, has surged 14% from its record low of 52.20 reached in March. Some analysts say it could touch 45 by March '10. In contrast, Yuan is pegged to the dollar and hence remains unaffected by economic data. An appreciating currency reduces the demand for the products of that country as it becomes more expensive.


Also Read
 → Export shrinks slower at 11.4%
 → India, China leading world out of downturn
 → Forex reserves dip by $4.8 bn on gold purchase
 → China, US spar over forex rates ahead of Obama visit
 → Yuan as new global currency? It can bode well for India


India's exports have been falling month-over-month for more than a year now. Exports between April and October stood at $90.4 billion, down 26.5% over the year-ago period. "Even though 2007 was tough because of a stronger rupee, the order flow then was higher," said Clothing Manufacturers Association of India president Rahul Mehta. India missed the export target of $11.62 billion in FY09 and may miss the association's target of even $10 billion this year, if the current trend continues.

India's share in the $373-billion global clothing industry has dipped to 2.6% from 3.3% a few years back, according to the Apparel Export Promotion Council (AEPC) data. More than two-thirds of the total textile exports goes to the US, Europe and Japan, worst affected by the credit crisis.

Industry veterans, like Bangalore-based Gokaldas Exports chairman Rajendra Hinduja, say the country is facing strong price competition from countries like China, Bangladesh and Vietnam.

The rise in rupee is also hurting exports in gold jewellery, which grew 2.4% during first half of the current fiscal to $4.4 billion.

RBI survey of analysts sees FY10 GDP at 6%

17 Nov 2009, 1126 hrs IST, REUTERS

MUMBAI: Economists and analysts surveyed by the Reserve Bank of India (RBI) revised downwards India's gross domestic product
projection to 6.0

per cent for 2009/10 from 6.5 per cent in the previous round of survey.

The forecasters also assigned a highest 34.3 per cent chance for inflation to be within 6.0-6.9 per cent in 2009/10, the survey showed.

The RBI released the results of the ninth round of survey on Monday, adding that the result in no way reflects the views of the central bank.

The central bank polled 21 respondents for the survey which included macro-economic parameters like GDP, inflation, interest rates, money supply and credit growth.

The RBI in its mid-term monetary policy review had kept its GDP projection for the current fiscal unchanged at 6.0 per cent but had increased inflation target to 6.5 per cent by end-March 2010 from 5.0 per cent earlier.

The economists surveyed have sharply reduced their expectation for agriculture growth in 2009/10 to -1.4 per cent from 2.5 per cent projected in the previous round.

"For industry, the forecasts have been revised upwards from 4.8 per cent to 6.3 per cent whereas for the services sector, there was modest downward revision from 8.3 per cent in the earlier survey to 8.1 per cent in the current survey," RBI said.

The study also showed that the economists expect the Jul-Sep GDP growth at 6.2 per cent and for Oct-Dec and Jan-Mar at 5.7 per cent and 6.7 per cent respectively.

The government is scheduled to announce the Jul-Sep GDP growth number on Nov. 30.

The forecasters expect headline inflation to be at 4.0 per cent in Oct-Dec and at 6.8 per cent the following quarter.

Over the next five years, GDP is expected to grow at 7.5 per cent, unchanged from the previous round of survey, RBI said.

But inflation forecast over the next five years, was revised upwards to 5.5 per cent from 5.3 per cent in the previous survey.



What happens to the unclaimed deposits in the leading banks in India?

there are many of us deposit money in banks due to some constraints and problems there are many chances we don't pay attention at times or the banks don't bother to let us know when our deposits are matured!! at times the depositor dies without disclosing anything to their kieth and kin...what happens to that money ?how this amount is used by the banks ? do they pocket it ? I am just curious there are so many senior citizens who never want to share their financial accounts to their relatives and trust the banks!!!!is it safe?logic? what happens during coup/government changes?The hard earmed money,the savings if not withdrawn by the depositor where it goes????

Best Answer - Chosen by Voters

Banks are bound to send maturity intimation to all term deposit holders. But some banks are following the norms. The RBI and Finance Ministry has modified the rules mostly beneficiary to Banks rather than depositors in last 40 years. Interest was paid to even Current a/cs on available daily balance like SB a/cs during the era when the ledger system was operated manually. Interest rates were scaled down without considering purchasing power of the public.The deposits are classified as inoperative a/c if the same remains with out any transaction for more than three years continuously. Banks are required to advise the customers about his positions and will levy a penalty if the a/c doesn't have prescribed minimum balance and send notices to the customer. If the inoperative a/cs remains for more than 10 years it will be treated as unclaimed deposit. It will be transferred to book profit in due course. With regard to change of govt. by democratic means we need not worry. For the conditions of coup only friends in neighbouring country can give better answer. But in general the dictator will not touch monetary system and banking sector due to international trade and domestic trade.

Rs 50000 crore to be invested across various asset classes
By Neelima Shankar
Nov 13, 2009
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Companies, banks and mutual funds are competing against each other to obtain a good share of funds worth Rs. 50,000 which are to be invested across various asset classes. The funds have been generated as a result of high interest rate bank fixed deposits.


In the wake of global meltdown last year, many risk-averse investors had parked large sums of money in term deposits. In order to attract more customers, the banks had started offering interest rates in the range of 10-11 percent. Now, a year later, the banks have again cut down the rates by around 500 basis points from peak levels reached in October 2008.

Vikaas Sachdeva, head-business development, Bharati Axa Investment said, "We're already beginning to see opportunistic investors shifting their investments from banks to mutual funds and other asset classes." He added that while conventional investors would stick to bank FDs, smarter investors would consider investment avenues like short-income funds, treasury advantage funds, fixed maturity plans and also monthly income plans for higher income.

The prevailing bank deposit rates would yield in the range of 5.2-7 percent pre-tax. If the interest rates rise, mutual fund investors would look at short term debt options to invest their money. Money market funds current pre tax rate of interest is 4.5-5.5 percent while that of fixed income funds is 8-10 percent.

Alok Singh, head-fixed income, Fortis Investment Management said, "Investments will not be skewed to any particular asset class this time around. Money will be scattered across assets, with a decent chunk flowing in to fixed income mutual funds and smaller portions in to equities and other asset classes."

Due to market volatility, wealth management experts do not expect a large share of money to flow into stocks and equity schemes of mutual funds.


FD: Opportunity for retirees to diversify their investment portfolio
By Neelima Shankar
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Once you reach the retirement age, your investment options begin to shift into an entire new path. Earlier where maximizing returns may be of primary importance, stability in income is given the highest priority after retirement.


Although financial experts have been advising to have a significant prudent reserve for one's after retirement years but with a pre-set amount of funds, investment for old age from thirties and forties become difficult. At the same time it is also important that an assured and a regular income is coming your way subsequent to retirement and therefore investment is a must for retirees. However it is a complicated proposition.

Since retirees do not have any alternative sources of income like salary to rely upon, a stable income becomes the main motive of their investment. High risk-high return avenues typically take a back seat at this stage. So given such a constraint, there are only a limited range of options for the retirees.

Traditionally Senior Citizens Savings Scheme (SCSS) and Post Office Monthly Income Scheme (POIS) were one of the most common avenues in the portfolio of a retired person. Although there is a high range of safety attached to these schemes, cap on the upper investment limit makes them outdated. Even if they are safe and come under the methodical financial planning, one can enhance their financial portfolio by looking into a host of alternative long-range investment options including fixed deposits with monthly income plan.



Figures at All-India / State level : (Currently showing India with State Level consolidated figures) Andhra Pradesh | Chandigarh | Gujarat | Haryana | Himachal Pradesh | Karnataka | Madhya Pradesh | Maharashtra | Punjab | Rajasthan | Tamil Nadu | Uttar Pradesh | West Bengal |

(Data table headings are shown Year-wise in descending order)


  Savings Deposits with Commercial Banks in India (1970-1971 to 2008-2009)
  Small Savings in India (1970-1971 to 2008-2009)
  State-wise Small Saving Collection in India (2005-2006 to 2008-2009 and April 2009)
  Month-wise Statistics on Saving Certificates, Public Provident Funds and Total Small Savings in India (April 1996 to March 2009)
  Month-wise Statistics on Savings Deposits with Commercial and State Co-operative Banks in India (April 1990 to March 2009)
  State-wise Net Small Savings Collections in India (1998-1999 to 2006-2007)
  State-wise Small Savings Collections in India {2002-2003 to 2006-2007 (Upto December)}
  Financial Saving of Household Sector (Gross) in India (2003-2004 to 2007-2008)
  State-wise Small Saving Collection in India (April to March, 2005 and 2006)
  State-wise Share of Small Savings Transfers in India (2000-2001 to 2004-2005)
  State-wise Small Savings Collections in India (2003-2004 and 2004-2005)
  State-wise Net Small Savings Collections in Post Offices and Sums Transferred to State/UT Governments in India (2001-2002 to 2003-2004)
  Circle/Postal-wise Small Saving Collection (Category/Head 8002 - Saving Certificates) in India (March, 2003)
  Circle/Postal-Wise Small Saving Collection (Category/Head 8006 - Public Provident Fund) In India (March, 2003)
  Circle-wise Small Saving Collection (Category/Head 8001 - Saving Deposits) in India (March, 2003)
  Household Saving in Financial Assets in India (1998-1999 to 2002-2003)
  State-wise Net Small Savings Collection (including P.P.F.) in India (1997-1998 to 2002-2003)
  Circle/Postal-Wise Small Saving Collection (Category/Head 8006 - Public Provident Fund) In India (March, 2002)
  Circle-wise Small Saving Collection (Category/Head 8001 - Saving Deposits) in India (March, 2002)
  Circle-wise Small Saving Collection (Category/Head 8002 - Saving Certificates) in India (March, 2002)
  Circle-wise Small Saving Collection (Category/Head 8001 - Saving Deposits) in India (March, 2001)
  Circle-wise Small Saving Collection (Category/Head 8002 - Saving Certificates) in India (March, 2001)
  Circle-wise Small Saving Collection (Category/Head 8006 - PPF) in India (March, 2001)
  Small Saving Collections by National Saving Organisation in India (1977-1978 to 2000-2001)
  State-wise Net Small Savings Collections (Excluding PPF) in India (1997-1998 to 2000-2001)
  Statewise Plan Loans/Small Savings Loans Released by Ministry of Finance in India (During 1998-1999 to 2000-2001)
  Circle/Postal-wise Small Saving Collection (Category/Head 8001 - Saving Deposits) in India (March, 2000)
  Circle-wise Small Saving Collection (Category/Head 8002 - Saving Certificates) in India (March, 2000)
  Circle-wise Small Saving Collection (Category/Head 8006 - PPF) in India (March, 2000)
  Reciepts and Outstandings Small Savings in India (1990-1991 to 1999-2000)
  Statewise Gross and Net Small Savings Collections in India (1996-1997 to 1999-2000)
  State-wise Share of Small Savings Transfers in India (1990-1991 to 1999-2000)
  Circle/Postal-wise Small Saving Collection (Category/Head 8001 - Saving Deposit) in India (March, 1999)
  Circle/Postal-wise Small Saving Collection (Category/Head 8002 - Saving Certificates) in India (March, 1999)
  Circle/Postal-wise Small Saving Collection (Category/Head 8006 - PPF) in India (March, 1999)
  Saving Rates (as % of) GDP at Current Market Prices in India (1993-1994 to 1998-1999)
  Savings of Household Sector in Financial Assets in India (1992-1993 to 1998-1999)
  Small Savings Schemes in Force in India - Part I
  Small Savings Schemes in Force in India - Part II

Banks and Financial Institutions

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(Sub-sections are shown in alphabetical order)
 
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The Reserve Bank of India has frowned on the practice of banks slapping penalty charges on premature repayment of loans, saying it did not approve of such charges.[...More]
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  1. United Bank of India - A Bank with Exciting Loan & Deposit Schemes

    United Bank of India is a public sector bank in India. It provides all kinds of deposit schemes, loan schemes & NRI Schemes with reasonable interest rates.
    www.unitedbankofindia.com/ - Cached - Similar -
  2. Jun 01, 2008 Features of various Deposit Schemes - Reserve Bank of ...

    AD Category – I banks and authorised banks may permit remittance of the maturity proceeds of FCNR (B) deposits to third parties outside India, provided the ...
    www.rbi.org.in/scripts/FAQView.aspx?Id=69 - Cached - Similar -
  3. UCO bank, indian bank offering deposit schemes,loans,international ...

    Deposit Schemes. Remittance to India. Loans to NRIs. Correspondent of Treasury Branch. Overseas Branches. Authorised Foreign Exchange Branches. Contact Us ...
  4. Interest Rates Impact on Short Term Deposit Schemes: Banknet India

    Although 1-2 year maturity deposits schemes have always remained among the favourite choices for ... Banknet India | All rights reserved worldwide. ...
    www.banknetindia.com/banking/depositstudy.htm - Cached - Similar -
  5. Goa State Cooperative Bank, Goa-India: Product Portfolio - Deposit ...

    Deposit Schemes Savings, Current, Fixed, Recurring, Pension, Marriage schemes. ... 'SAHAKAR SANKUL', Patto Plaza, EDC Ground, Panaji-Goa. 403 001. INDIA. ...
    www.gscbgoa.com/deposit_schemes.html - Cached - Similar -
  6. Fix Deposit Schemes. Television Eighteen India Ltd. - Delhi: Loans ...

    Fix Deposit Schemes. Television Eighteen India Ltd.in Delhi. Find Fix Deposit Schemes. Television Eighteen India Ltd. from a wide range of Loans - Insurance ...
    delhi.quikr.com/c-Loans-Insurance-Fix-Deposit-Schemes-Television-Eighteen-India-Ltd-W0QQAdIdZ49703835 - Cached -
  7. Investment in Post Office Time Deposit Scheme in India ...

    29 Aug 2008 ... The post office time deposits offer compound interest of around 6% to 7% annually in India. Moreover, there is no tax deduction at source ...
    www.associatedcontent.com/.../investment_in_post_office_time_deposit.html - Cached - Similar -
  8. Deposit Schemes For NRIs | Statebank of India

    NRE accounts can be opened/credited with remittances from abroad/transfer from existing NRE/FCNR accounts/deposit of foreign exchange brought into India, ...
    www.statebank.co.za/nri_deposit.html - Cached - Similar -
  9. fixed deposit schemes | The India Street

    The Tata Motors Fixed Deposit Scheme has been well known for quite some time with the financially educated for the past few months. ...
    www.theindiastreet.com/fixed-deposit-schemes - Cached -
  10. Indian Bank - Deposit Schemes

    3 Mar 2008 ... Indian Bank has many deposit schemes tailored to suit the needs of its customers, both individuals and organisations. ...
    www.indianbank.org/products_deposits.htm - Cached -
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MFs to be traded on stock exchanges
New Delhi, November 15
There is some good news for those who wish to invest in mutual funds but are in two minds for putting their hands in the product through fund managers.

Oil cos hike ATF prices
New Delhi, November 15
For the second time this month, state-owned oil firms today hiked jet fuel prices, this time by 2.4 per cent following a spurt in international oil rates.

RBI plans 100 regional offices
Jalandhar, November 15
To reach a wider population, the apex regulatory bank, RBI, which is celebrating its platinum jubliee year this fiscal, is planning to open regional offices in 100 villages across the country.

US court favours Grupo's bid for Asarco
New York/New Delhi, November 15
Putting an end to the year-long battle for control over bankrupt copper miner Asarco, a district court in Texas has favoured Grupo Mexico's $2.4 billion bid over that of Sterlite Industries, media report says.




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Visitors walk past a US-made B-1B bomber displayed at the Dubai Airshow in the Gulf emirate on Sunday. The airshow opened with more exhibitors and visitors expected than in previous years but amid doubts by analysts that it will see massive orders from oil-rich Gulf monarchies.
Visitors walk past a US-made B-1B bomber displayed at the Dubai Airshow in the Gulf emirate on Sunday. The airshow opened with more exhibitors and visitors expected than in previous years but amid doubts by analysts that it will see massive orders from oil-rich Gulf monarchies. — AFP

Vardhman in JV project with Japanese firm
Ludhiana, November 15
Vardhman Group has tied up with Nisshinbo Textile Inc, Japan, for making world-class shirts. The foundation stone of Vardhman Texgarments, the joint venture project, was laid here by Chief Minister Parkash Singh Badal yesterday.

Railways eyes earnings from transportation of vehicles
New Delhi, November 15
Indian Railways is looking at taking a share of the pie of the transportation of the automobiles from their manufacturing points to various cities and is willing to offer its land to the automobile manufacturers to establish hubs from where the automobiles could be moved through rail.

Tax Advice
Medical reimbursement up to Rs 15,000 tax-free
Q. I am a university employee. After an accident, I had to undergo orthopaedic surgery on my right arm for which a sum of Rs 14,000 was incurred at a private nursing home.

  1. Current Home Loan Rates in India: Get the Best Home Loan Interest ...

    Compare current home loan rates In India. Learn about the current fixed and floating home loan interest rates and get the best home loan rates.
    www.apnaloan.com/home-loan-india/rates.html - Cached -
  2. Personal Loans India: Personal Loan Rates in India

    Bank of India, Floating, 12.25, NA, NA, NA. Karnataka Bank, Fixed, 13.25 ... Interest rates for personal loans given above are indicative in nature. ...
    www.apnaloan.com/personal-loan-india/rates.html - Cached - Similar -
  3. Interest rates statistics - Bank lending interest rates in India

    Interest Rates on Refinance to State Co-operative Banks for Purposes other than Seasonal Agricultural Operations in India (2002-2003) ...
    www.indiastat.com/.../3/lendinginterestrate/142/stats.aspx - Cached - Similar -
  4. News results for interest rates in india


    Siliconindia.com
    India Eco Summit: No change in interest rates, says Kochhar‎ - 6 days ago
    "There is nothing like taking a call on interest rate on daily basis and dynamic basis, when there is a need to change we change it, but given the current ...
    Business Standard - 29 related articles »
  5. Fixed Deposits Interest Rates | HDFC Bank - FD Interest Rate India

    Fixed Deposits Interest Rates | HDFC Bank provides High Interest rates fixed deposits, security deposits in India that features Flexibility, Security and ...
    www.hdfcbank.com/personal/hmpg_tng/hmdomrates.asp - Cached - Similar -
  6. 'Interest rates in India are close to neutral levels'

    3 Jun 2007 ... Financial express latest business and finance news: 'Interest rates in India are close to neutral levels'
    www.financialexpress.com/.../interest-rates-in-india.../200855/ - Cached - Similar -
  7. Bank of Baroda - India's International Bank - Interest Rates

    Interest Rate on Term Deposits & NRO Deposits (W.E.F 17.08.2009) .... Banking Codes & Standards Board of India | Banking Ombudsman Scheme 2006 | Baroda ...
    www.bankofbaroda.com/interest.asp - Cached - Similar -
  8. End of low interest rates in India: Moody's: Rediff.com Business

    28 Jul 2009 ... End of low interest rates in India: Moody's | Rediff Business News: Latest India business news, India Economy news, Indian stock market ...
    business.rediff.com/.../bcrisis-end-of-low-interest-rates-in-india-moodys.htm - Cached -
  9. India Begins "Exit Strategy," But Interest Rates Remain Unchanged ...

    27 Oct 2009 ... (RBI) became the latest major central bank to take its first steps in easing its monetary policy.
    www.moneymorning.com/2009/10/27/india-rbi-bank/ - Cached -
  10. Interest rates set to rise, signals RBI - India Business - Biz ...

    28 Oct 2009 ... Interest rates are likely to start rising soon. This was clearly indicated by the second quarter review of the monetary policy, 2009-10, ...
    timesofindia.indiatimes.com/.../india.../Interest-rates.../5170647.cms - Cached -
  11. NRI Account, Interest Rates, Indian Banks, NRI Websites, India ...

    saluting the Indian spirit, we present "nribanks" - displaying interest rates offered to NRIs by all most all banks in India. happy banking. ...
    www.nribanks.com/ - Cached - Similar -

India, Korea may be first to lift rates: Morgan Stanley

Economic Times - ‎15 hours ago‎
... 8-10% for over six months, indicating that the recovery is more sustainable," said a Morgan Stanley report in its outlook for interest rates in India. ...

Subject foreign inflows to 2% tax: Assocham

Economic Times - ‎2 hours ago‎
This has been happening because FIIs in economies of scale are lifting money at zero per cent interest rate and suitably parking such capital into Indian ...

Relax interest rates by 2%: ASSOCHAM

India Infoline.com - ‎Nov 16, 2009‎
These channels have put up stiff challenge for commercial banks and until interest rates are brought down in them, whatever access liquidity they have ...

'India will hold on to today's valuation level'

Business Standard - ‎20 hours ago‎
We believe central banks will use moral suasion and other means to check asset bubbles rather than simply raising interest rates. For instance, in India, ...

Rupee seesaws on choppy shares; dlr eyed

Economic Times - ‎4 hours ago‎
... stocks surrendered early gains, shrugging off the US Federal Reserve's comments it was likely to keep interest rates at very low levels for some time. ...

RBI survey of analysts sees FY10 GDP at 6%

Economic Times - ‎8 hours ago‎
The central bank polled 21 respondents for the survey which included macro-economic parameters like GDP, inflation, interest rates, money supply and credit ...

Indian shares ease 0.6 pct; Reliance, ICICI drop

Reuters - ‎6 hours ago‎
... stocks surrendered early gains, shrugging off the US Federal Reserve's comments it was likely to keep interest rates at very low levels for some time. ...

Few takers for interest rate futures

Business Standard - Palak Shah - ‎20 hours ago‎
There has been a tepid response to interest rate futures (IRF), which made a comeback in August, six years after an attempt to allow companies to hedge ...

Sensex lacklustre; realty, banks decline

Economic Times - ‎8 hours ago‎
... to fresh 13-month closing highs, after Federal Reserve Chairman Ben Bernanke reinforced expectations that interest rates would stay low to spur growth. ...
Markets at a glance Business Standard

ICICI Bank to put car, truck loans back on fast track

Economic Times - Chanchal Pal Chauhan - ‎18 hours ago‎
Significant scaling down of the auto finance business by private banks and higher interest rates were the key reasons that led to deceleration in car sales ...


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Gas is not a private property of Ambani brothers: Govt
17 Nov 2009, 1910 hrs IST, PTI

Additional Solicitor General M Parasaran said govt has every right to be a party as gas is a national asset and a natural resource. All you want to know about gas row

'Supply of ethical hackers in India short of demand'
17 Nov 2009, 1609 hrs IST, JOE A SCARIA,ET Bureau

This has very much to do with the nation's security, but not one that the political leadership is being pulled up for. In pics: Nokia N97 mini launched | Smartphone war


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