Subsidised cooking gas (LPG) price was today raised by over Rs. 7 per cylinder, in line with the government’s decision to hike prices every month so that all subsidises are eliminated by this fiscal-end. A subsidised 14.2-kg LPG cylinder now costs Rs. 487.18 in Delhi as against Rs. 479.77 previously, according to Indian Oil Corporation, the nation’s largest fuel retailer. Oil Minister Dharmendra Pradhan had on July 31 told the Lok Sabha that the government had asked state-owned oil companies to raise subsidised cooking gas (LPG) prices by Rs.
In a relief to scores of taxpayers, the government on Thursday extended the deadline for linking income tax permanent account number (PAN) with Aadhaar by four months to December 31, according to news agency Press Trust of India. August 31, Thursday, was supposed to be the last day for linking of Aadhaar and PAN cards. People who do not have Aadhaar can file their Income Tax returns, but their returns will not be processed till they submit their Aadhaar number, PTI reported quoting a source.
The asset under management of Indian mutual fund industry touched record high of Rs 20 lakh crore in July, driven by strong inflows into both debt and equity segments. Retail investors have been pumping record amount into mutual funds through SIPs. It is estimated that investors are putting in nearly Rs 5,000 crore every month through SIPs. Systematic Investment Plan or SIP as it is commonly known, is an investment plan offered by mutual funds, wherein one could invest a fixed amount in a mutual fund scheme at fixed intervals.
Despite falling interest rates, PPF (public provident fund) remains one of the popular small savings schemes. Interest rate on PPF and other small savings scheme are being reset every quarter from April last year, as compared to the annual mode earlier. Investors in PPF currently get an interest rate of 7.8 per cent. The interest rate on PPF and other small savings schemes are benchmarked to yields on government bonds, with a small mark-up.
In order to smoothen the process of lower denomination transactions, Reserve Bank of India (RBI) has introduced new Rs. 200 notes. The Reserve Bank, earlier, stated that the production of the new notes will be increased as currently the Rs. 200 notes are only available through select RBI offices and banks. “The production of these notes (Rs. 200) is being ramped up by the currency printing presses and over time as more notes are printed, it will be distributed across the country through the banking channels and will be available for public in adequate quantity,” RBI said in a statement.
State Bank of India or SBI has in recent months revised its charges on various services like ATM withdrawal , cash transactions, issuance of cheque books, exchange of soiled notes and online transfer of funds through Immediate Payment Service (IMPS). SBI has clarified that customers of its mobile wallet State Bank Buddy will be charged 3 per cent plus GST of 18 per cent on transfer from Buddy to bank account using IMPS.
SBI said the rates have been revised for medium and long term deposits and for amount below Rs 1 crore. Country’s largest lender State Bank of India has cut its term deposit rates by up to 50 basis points for various maturities. The rates have been revised for medium and long term deposits and for amount below Rs 1 crore. According to the new structure, for two to less than three years deposits, SBI will offer a rate of 6.
The Government is planning to ask telecom companies to link customers’ SIM Cards with their Aadhar number, according to a report by a news channel. The Department of Telecom has already issued notices to telecom companies asking them to ensure that the SIM card of the mobile subscribers is linked to his/her Aadhaar card,” the report said. The DoT has also asked the telcos to complete the process within a year,” the report added.
United Forum of Banking Unions (UFBU), the umbrella body of trade unions in the banking sector, has called a nation-wide strike on August 22 to protest against the reforms proposed by the Centre. West Bengal convenor of UFBU, Siddhartha Khan said that the government is ushering in privatisation and consolidation in the Indian banking sector in the garb of reforms. He said that the Bank Board Bureau had been formed to bring all the public sector banks (PSBs) under a banking investment company and get the government’s share in PSBs below 50 per cent.
Are you sure that the contact information registered with Unique Identification Authority of India (UIDAI) for your Aadhaar Card is correct? If not, we would advise you to head to the UIDAI website and check it out for yourself. Aadhaar card is increasingly becoming the most important proof of identification and considering that the government has made it mandatory to link your Aadhaar cards with PAN card for filing income tax returns, its importance has grown further.