Mega merger of state-run banks comes into force from April 1, says RBI

March 30, 2020

MUMBAI: The schemes for the merger of ten state-run banks into four lenders are coming into force from April 1, according to the Reserve Bank of India. The banking regulator in separate releases announced that the branches of merging banks will operate as of the banks in which these have been amalgamated. The government on March 4 had notified the amalgamation schemes for 10 state owned banks into four as…

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Post Office Savings Schemes: Charges you should be aware of

March 30, 2020

Post Office offers various types of deposit schemes which are quite popular among investors as these schemes come with the sovereign guarantee – backed by the government. Many of these schemes also enjoy tax benefits under section 80C of the Income-tax Act. That is why many investors prefer having these schemes in their portfolio. The Ministry of Communications runs Post Office schemes. The multiple savings schemes include Post Office Time…

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RBI Cuts Rates, Allows 3-Month Pause On EMIs To Offset Coronavirus Impact

March 29, 2020

Reserve Bank of India (RBI) Governor Shaktikanta Das slashed the key lending rate by 75 basis points (0.75 percentage point) in an emergency move on Friday, to counter the economic fallout from the fast-spreading coronavirus pandemic. The move came after an unscheduled meeting of the Shaktikanta Das-headed Monetary Policy Committee, which was originally slated for a bi-monthly review early next month. Four out of the six members of the Monetary…

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Walking Home From Delhi For Over 200 km, Delivery Agent Dies On Highway

March 29, 2020

Agra:A 38-year-old man, who had walked over 200 km from Delhi to reach his home in Madhya Pradesh after Prime Minister Narendra Modi announced a 21-day lockdown to stop the spread of coronavirus, died on the way. Ranveer Singh, who worked as a delivery agent in Delhi, was among the thousands of migrants desperately trying to return to their hometowns and villages after they were left without jobs, shelter or…

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Earning Rs 8 lakh or Rs 15 lakh? Check if opting for the New Income Tax Regime helps

March 28, 2020

The enhancement of the basic exemption limit or the lowering of income tax rates was a much-anticipated measure from quite a long time. Budget 2020 had not disappointed the taxpayers in this regard. Even though the basic exemption limit was not changed or enhanced but an optional alternative tax regime has been introduced which has lower tax rates as compared to the existing regime. But if a taxpayer opts for…

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Handset makers blame ‘erroneous’ data for GST rate hike

March 28, 2020

New Delhi: Mobile handset manufacturers have claimed that the recent 50% hike in GST rate was ‘erroneously’ based on the premise that pre-GST excise duty rate was 12.5%, when it was just 2%. They sought an urgent roll back of the increase, saying it would “devastate” the sector already reeling from the impact of the Covid-19 outbreak, lead to huge job losses and a strong return of the grey market….

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How to change/update registered mobile number on IRCTC

March 27, 2020

Due to the cancellation of all passenger trains until any further announcement in order to curb the spread of the novel coronavirus, shares of Indian Railway Catering and Tourism Corporation (IRCTC) were locked in the lower circuit band for the eighth consecutive day on Wednesday, down 5 per cent at Rs 816 on the BSE over concerns of poor earnings. The IRCTC, which took a hit earlier this week due…

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Big coronavirus relief! Rs 1500 for 20 crore women in Jan Dhan Account from Modi government

March 27, 2020

In view of the coronavirus crisis, Modi government has announced a big relief for 20 crore women of India. Addressing a press conference, Union Finance Minister Nirmala Sitharaman said 20 crore women Jan Dhan Account holders to get Rs 500 per month for next three months to help them run their households in the wake of coronavirus. PIB tweeted, “#PradhanMantriGareebKalyanYojana #ReliefPackage to women #JanDhan account holders: an ex gratia amount…

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COVID-19: Flipkart temporarily suspends services

March 25, 2020

Walmart-owned Flipkart has temporarily suspended its operations in view of the 21-day nationwide lockdown due to the Covid-19 outbreak. “We are temporarily suspending operations. Your needs have always been our priority and our promise is that we will be back to serve you, as soon as possible,” Flipkart said in a message on its website. The e-comm firm further said to be assessing the possibilities of operating in the lockdown….

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How Attackers are Stealing Your Data and Money by Using COVID-19 as Bait

March 24, 2020

The coronavirus pandemic is causing global lockdowns of bustling metropolitans, with scientific laboratories working overtime to come up with enough testing kits, potential cures and a future vaccine. While such actions are underway, cyber attackers across the world are having a field day by cashing in on the global panic that the virus has caused. The result is a wide range of phishing messages and malware-ridden emails that pretend to…

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Important EPFO news alert in view of coronavirus outbreak

March 24, 2020

Despite the novel coronavirus (Covid-19) restrictions across the country, the Employees’ Provident Fund Organisation (EPFO) is ensuring that pensions to over 65 lakh people are disbursed on time. In a statement issued, the EPFO said that due to the coronavirus pandemic, lockdowns have been declared in various parts of the country. What EPFO said? “In order to ensure that no inconvenience is caused to the pensioners on account of the…

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Sukanya Samriddhi Scheme: Changes in the SSY scheme you should be aware of

March 23, 2020

Through a recent notification, the finance ministry has brought in some changes in the Sukanya Samriddhi Yojana (SSY). Even though no major changes were made in the scheme, some small modifications have been made. In the modified regulations of the SSY scheme, certain provisions have been removed to be replaced with the new ones, while others have been clarified. Here are some changes that you should know about the Sukanya…

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