RBI put restrictions on withdrawals from THIS bank- Check details here
The RBI said that depositors should not feel worried as 99.89 per cent of the depositors are fully covered by DICGC insurance scheme.
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Updated: Feb 11, 2021, 01:52 PM IST
In a significant development, the Reserve Bank of India (RBI) has put restrictions on withdrawals from Nashik-based Independence Co-operative Bank Limited. The RBI has taken the decision because of the present liquidity position of Independence Co-operative Bank Limited.
The RBI, however, said in a statement that depositors should not feel worried as 99.89 per cent of the depositors are fully covered by the Deposit Insurance and Credit Guarantee Corporation (DICGC) insurance scheme.
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What financial experts think about RBI’s new window for retail investors to buy-sell govt bonds
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Synopsis
Encashing direct investments in gilts quickly could be more difficult than encashing gilt mutual fund units. Direct investment in Gilts can be considered by someone looking for safety of investment of the highest level and who is willing to remain invested till maturity of the instrument.
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RBI’s move to allow retail investors to open gilt investment accounts directly will hopefully make it easier for retail investors to invest in government securities than at present. The attraction of government securities is the sovereign guarantee that they offer. This needs to be viewed in the light of the fact that bank FDs are insured only up to Rs 5 lakh with the Deposit Insurance and Credit Guarantee Corporation (DICGC) and do not offer sovereign guarantee which is the safest possible for a financial instrument in the country. However, liquidity offered by
Budget 2021: A non-event from a personal finance standpoint
While there were announcements on procedural improvements in the Budget, there are no new tax benefits February 03, 2021 / 11:01 AM IST
Unlike every year’s budget, this edition had very few announcements on the aspects of individual taxation, as far as the investments are concerned. Let s take a look at the areas where it has an impact.
No Change in Income Tax Slab Rates: Yes, there is no change in Income Tax Slab Rates from what they were last year. In terms of tax saving options, also, there is no change in the limits of 80C or other sections.