Elon Musk is celebrating one year of Twitter takeover with $44 billion-deal, and aims to make it all app, including the financial hub. As per sources, on October 26, Musk and X CEO Linda Yaccarino held X's first all-hand meeting and discussed major aspects of rebranding, including the vision of making the platform a space for users for finances. Musk also asked X employees to replace X with bank accounts.
The tax department is considering a proposal under which credit card holders will have to file a declaration with the issuer entity within a stipulated time, specifying the nature of expenses incurred in foreign currency for the purpose of TCS levy, sources said. The I-T department is in talks with the RBI and other stakeholders to firm up a mechanism, to distinguish tax collection %, based on purpose of expense.
Courtesy: The Press Trust of India
Credit Card is a mode of comfort in broke situations, but usually, newbies get trapped in loans, as they are unaware of the benefits of the card. Here are some tips about credit cards, which every newbie should know, 1. pay your bill on time. 2. shop around before applying for one 3. Try to use a little of your credit limit 4. Pay bills with credit card, for points.
As part of Azadi Ka Amrit Mahotsav celebration, public sector banks are scheduled to conduct a credit outreach programme on June 8, in all districts across the state. With this, the customers and public at large, could clarify their queries on credit facilities and enrolment in various government schemes. Under Azadi Ka Amrit Mahotsav, a week-long celebration of Ministry of finance is underway, during June 6-12.
The RBI Governor Shaktikanta Das announced a 40 bps hike in repo rates, due to which money loans will be expensive. On May 4, Das said after unanimous votes of the Monetary Policy Committee, the repo rate has been increased by 40 basis points, citing persistent inflationary pressures in the economy. Moreover, the amount of deposits in bank rate is 4.5%. The hike will be effective from May 21.
Courtesy: The Free Press Journal
The RBI under section 35A of the Banking Regulation Act, directed Paytm payment banks to stop onboarding new Paytm customers. The decision was in the view of certain supervisory material concerns observed in banks, on March 11. Furthermore, banks were asked to conduct comprehensive system audit of IT firms, read a RBI release. Notably, a final decision over new Paytm customers will be taken after IT reviews by the RBI.
Courtesy: Business Line
Guwahati will soon be connected via inland waterways, announced Union Shipping Minister Sarbananda Sonowal on January 2. He further said that a contract has also been given for the same. Reportedly, the project will facilitate inland cargo from West Bengal's Haldia to Pandu terminal in Guwahati. Sonowal added that the government is planning to encourage banks to issue soft funds in this sector by providing guarantees.