Tag: Reserve Bank of India (RBI)

Insolvency-Bankruptcy

Simpler Insolvency & Bankruptcy Code likely to soon evolve for SMEs

The Government is keen to simplify the insolvency and bankruptcy code for partnership and proprietorship firms and evolve an efficient and low-cost code for SMEs, keeping in mind the job creation capacity of the sector. Given the increasing number of corporate loan defaulters, the Insolvency and …

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The long road to a high-growth future

NITI Aayog is preparing a 15-year vision and a seven-year strategy document, and has circulated a three-year action agenda. The goal of transforming India and attaining the desired level of economic and social outcomes will require higher and sustainable growth in coming years. Higher economic gr…

Small Finance Bank

Big challenges before small finance banks

Ujjivan Small Finance Bank Ltd, the fifth such bank in India and the largest among the five in terms of their small loan portfolio, will make its formal debut on Monday after running a pilot programme in five of its microfinance branches in Bengaluru. Professor Muhammad Yunus, a microfinance pion…

new-money

Demonetisation cap: Daily limit hiked to Rs 10k, but weekly stays at Rs 24k

In a move that will bring relief to small traders and businessmen, the Reserve Bank of India (RBI) on January 16 allowed them to withdrawal cash from current accounts of Rs 1 lakh per week compared with just Rs 50,000 earlier. The facility will be applicable to overdraft and cash credit accounts …

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Pay 50% tax on unaccounted deposits, or 85% if caught: Govt

New Delhi: Providing a window to black money holders, the government on November 28 proposed to levy a total tax, penalty and surcharge of 50 per cent on the amount deposited post demonetisation while higher taxes and stiffer penalty of up to 85 per cent await those who don’t disclose but a…

Who gains, who loses

Currency Switch Impact | Who gains, who loses

It has been a little under two weeks since Prime Minister Narendra Modi declared that Rs 500 and Rs 1,000 notes will no longer be legal tender. Although it is still early days, the impact of the move to squeeze 86% of India’s currency in circulation is beginning to take effect. While the sudden m…