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Finance

RBI governor Shaktikanta Das bats for permanent status to Finance Commission

Mumbai: While it is important to adhere to fiscal deficit targets, it is equally important to undertake robust expenditure planning to address the socio-economic challenges, RBI governor Shaktikanta Das said on at the launch of predecessor Y.V. Reddy’s new book on Tuesday.Indian Fiscal Federalism is co-authored by Y.V. Reddy and G.R. Reddy, adviser (finance) to the Government of Telangana. According to Das, ... Read More »

Tighter housing finance norms on cards after IL&FS, DHFL defaults expose risks

The banking system continued to face liquidity constraints. Daily average liquidity deficit stood at Rs 94,585 crore in the week through February 28. The National Housing Bank (NHB) is considering tightening the asset-liability management (ALM) norms for housing finance companies (HFCs) to help detect their solvency concerns early to ensure swift course correction, sources told FE. “The ALM guidelines relating ... Read More »

Arun Mehta assumes office as principal secy finance

Arun Kumar Mehta Friday assumed office as principal secretary finance as he formally took over the charge from outgoing Navin K Choudhary, now principal secretary industries and commerce. According to an official spokesperson, senior functionaries of finance and allied departments were present on the occasion which was followed by an introductory cum review meeting.   Navin Choudhary gave the new ... Read More »

Fixed Deposit Interest Rates Offered By Small Finance Banks

Small finance banks often pay higher interest rates on deposits compared to commercial banks. Fixed deposit (FDs), also known as term deposits, are secure financial instruments offered by private and public sector banks, small finance banks (SFBs), non-banking financial companies (NBFCs) and post offices. Small finance banks pay higher interest rates on fixed deposits compared to commercial banks. Small finance banks focus on financial ... Read More »

Google picks its Chicago office to house finance hub

CHICAGO — Google officials say the company has selected Chicago as its new finance division hub with plans to have the capacity to double its workforce in the city by the end of the year. The Chicago announcement Friday is part of Google’s national expansion plan . The California company said Wednesday that it plans to invest more than $13 billion this ... Read More »

Suryoday Small Finance Bank enters North India—-eyes IPO in Oct-Dec quarter next year

Suryoday Small Finance Bank, which went live in January 2017, plans to go public with an initial public offering (IPO) in October-December quarter next year, a top official said. This small finance bank, which is the first from Maharashtra to obtain SFB licence from RBI, may also look to raise capital to the tune of ₹ 175-Rs 200 crore this year to ... Read More »

Ministry of Finance paid suppliers more than once; 13,500 extra employees on master list

B.C.’s Ministry of Finance makes duplicate payments to suppliers and has 13,500 employees no longer on the payroll on the books because its tracking system is a mess, auditor general Carol Bellringer says. Those duplicates resulted in 138 payments totalling more than $649,000, spending the government said involved a now-corrected 73 per cent error rate. Bellringer’s office examined the master ... Read More »

Budget 2019: Finance Minister raises TDS threshold on bank fixed deposit interest to Rs 40000

Interim Finance Minister Piyush Goyal has given a big relief to lakhs of bank fixed deposit investors. Union Budget 2019 has proposed that the threshold for TDS on interest earned on bank fixed deposit to be raised to Rs 40000 as compared to Rs 10000 earlier. The earlier limit was set almost couple of decades ago and needed to be revised taking ... Read More »

TCS 3rd most-valued IT services brand globally: Brand Finance

India’s Tata Consultancy Services(TCS) has been ranked third most-valued IT services brand globally in 2018-19, after Accenture and IBM, according to a report by Brand Finance. Four Indian IT services companies — TCS, Infosys, HCL and Wipro — clinched spots in the top-10 global tally. Valued at USD 26.3 billion, Accenture took the title of the world’s most-valued IT services brand. The tag was previously held ... Read More »

Personal Loans: All About Personal Loans

Personal loans can be just what you need to earn extra money given the increased cost of living we are all facing. A personal loan has its advantages, given the flexibility it offers to both the lender and the borrower. To get a personal loan, you do not need to have guarantors or to secure it against any asset, and ... Read More »