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BANKING CASH TRANSACTION TAX (BCCT)

YES…..BCCT is back, but differently.  To avoid large amount of cash transactions being made, the Naidu committee has recommended levy of transaction tax on all cash transactions above Rs. 50,000.  In November last year the Government had appointed a committee headed by the Andhra Pradesh Chief Minister Chandrababu Naidu, which has given its recommendations as

BANKING CASH TRANSACTION TAX (BCCT)

YES…..BCCT is back, but differently.  To avoid large amount of cash transactions being made, the Naidu committee has recommended levy of transaction tax on all cash transactions above Rs. 50,000.  In November last year the Government had appointed a committee headed by the Andhra Pradesh Chief Minister Chandrababu Naidu, which has given its recommendations as

EFFECT OF NOTE BAN ON CONSUMER GOODS DURING THIRD QUARTER

The note ban has hit the consumer goods and thus, the results for the December quarter has been disappointing.  Around 3.2 lakh crore of domestic Fast Moving Consumer goods (FMCG) has received the main jolt, with Hindustan Unilever (HUL) showing a fall in the growth to the tune of four percent.  However, the same has

EFFECT OF NOTE BAN ON CONSUMER GOODS DURING THIRD QUARTER

The note ban has hit the consumer goods and thus, the results for the December quarter has been disappointing.  Around 3.2 lakh crore of domestic Fast Moving Consumer goods (FMCG) has received the main jolt, with Hindustan Unilever (HUL) showing a fall in the growth to the tune of four percent.  However, the same has

VIRAL ACHARYA – NEW RBI DEPUTY GOVERNOR

Mr. Viral Acharya, took charge as RBI Deputy Governor, for a three year period.  The Central Bank accordingly reallocated the various portfolios on account of the new Deputy Governor’s joining.  He will in charge of Monetary and Economic Research department, Corporate Strategy and Budget department, Department of Corporate Services,     Department of Statistics and Information

VIRAL ACHARYA – NEW RBI DEPUTY GOVERNOR

Mr. Viral Acharya, took charge as RBI Deputy Governor, for a three year period.  The Central Bank accordingly reallocated the various portfolios on account of the new Deputy Governor’s joining.  He will in charge of Monetary and Economic Research department, Corporate Strategy and Budget department, Department of Corporate Services,     Department of Statistics and Information

CASH DEPOSITS ABOVE Rs. 10 LAKH OR MORE

Now the Government has come out one more requirement.  It has advised banks to inform deposits made in any account which totals upto Rs 10 lakh in a year, let apart, they should also submit the details of cash payments of Rs 1 lakh or more on credit card bills.   It was on January 17

CASH DEPOSITS ABOVE Rs. 10 LAKH OR MORE

Now the Government has come out one more requirement.  It has advised banks to inform deposits made in any account which totals upto Rs 10 lakh in a year, let apart, they should also submit the details of cash payments of Rs 1 lakh or more on credit card bills.   It was on January 17

PARLIAMENTARY STANDING COMMITTEE MEETING ON DEMONETIZATION

It is learnt that RBI has replaced around 60 per cent of the old demonetized currency notes, as per revelations by the RBI Governor before the Parliamentary Standing Committee. The currency value was said to be Rs. 9.2 lakh crores,  the questions viz the money deposited in banks after demonetization and the time by which

PARLIAMENTARY STANDING COMMITTEE MEETING ON DEMONETIZATION

It is learnt that RBI has replaced around 60 per cent of the old demonetized currency notes, as per revelations by the RBI Governor before the Parliamentary Standing Committee. The currency value was said to be Rs. 9.2 lakh crores,  the questions viz the money deposited in banks after demonetization and the time by which