LIFE INSURANCE CORPORATION OF INDIA

1. It is the largest insurance company in India.
2. The Parliament of India passed the Life Insurance of India Act on 19 June 1956 creating the Life Insurance Corporation of India, which started operating in September of that year.
3. Life Insurance Corporation of India (LIC) is celebrating its Foundation Day 1st  September
   
4. The LIC gets a large amount of insurance premium and has been investing in almost all sectors of the economy, viz, public sector, the private sector, co-operative sector, Joint Sector and now it is one of the biggest term-lending institutions in the country. LIC was established to spread the message of Life Insurance in the country and mobilize people’s savings for nation-building activities.

The important objectives of LIC are as follows: LIC

1. To mobilize maximum savings of the people by making insured savings more attractive.
2. To extend the sphere of life insurance and to cover every person eligible for insurance under the insurance umbrella.
3. To act as trustees of the insured public in their individual and collective capacities.
4. Promote all employees and agents of the LIC, in the sense of participation and job satisfaction through discharge of their duties with dedication towards the achievement of LIC objectives.
5. To ensure economic use of resources collected from policyholders.
6. To conduct business with the utmost economy and with the full realization that the money belongs to the policyholders.
7. Spread Life Insurance widely and in particular to the rural areas and to the socially and economically backward classes with a view to reaching all insurable persons in the country and providing them adequate financial cover against death at a reasonable cost.
8. Maximize mobilization of people’s savings by making insurance-linked savings adequately attractive.
9. Bear in mind, in the investment of funds, the primary obligation to its policyholders, whose money it holds in trust, without losing sight of the interest of the community as a whole; the funds to be deployed to the best advantage of the investors as well as the community as a whole, keeping in view national priorities and obligations of attractive return.
10. Conduct business with utmost economy and with the full realization that the money belongs to the policyholders.
11. Act as trustees of the insured public in their individual and collective capacities.
12. Meet the various life insurance needs of the community that would arise in the changing social and economic environment.
13. Involve all people working in the Corporation to the best of their capability in furthering the interests of the insured public by providing efficient service with courtesy.
14. Promote among all agents and employees of the Corporation a sense of participation, pride and job satisfaction through discharge of their duties with dedication towards the achievement of Corporate Objective.

The function of Life Insurance Corporation of India: LIC

1. to carry on capital redemption business, annuity certain business or reinsurance business in so far as such reinsurance business relating to life insurance business;
2. to invest the funds of the Corporation in such manner as the Corporation may think fit and to take all such steps as may be necessary or expedient for the protection or realization of any investment; including the taking over of and administering any property offered as security for the investment until a suitable opportunity arises for its disposal;
3. .to acquire, hold and dispose of any property for the purpose of its business;
4. to transfer the whole or any part of the life insurance business carried on outside India to any other person or persons, if in the interest of the Corporation it is expedient so to do;
5. .to advance or lend money upon the security of any movable or immovable property or otherwise;
6. to borrow or raise any money in such manner and upon such security, as the Corporation may think fit;
7. to carry on either by itself or through any subsidiary any other business in any case where such other business was being carried on by a subsidiary of an insurer whose controlled business has been transferred to and vested in the Corporation by this act;
8. to carry on any other business which may seem to the Corporation to be capable of being conveniently carried on in connection with its business and calculated directly or indirectly to render profitable the business of the Corporation; and
9. to do all such things as may be incidental or conducive to the proper exercise of any of the powers of the Corporation.

Subsidiaries:

1. LIC Nepal
2. LIC Cards Services
3. LIC International
4. Life Insurance Corporation (Lanka) Ltd
5. LIC Pension Fund Ltd
6. LIC Singapore
7. LIC Lanka
8. Life Insurance Corporation of India, Asset Management Arm
9. Life Insurance Corporation International B.S.C.
10. The Life Insurance Corporation of India Provident Fund
11. LIC Nomura Mutual Fund
12. Life Insurance Corporation of India

OBJECTIVE & FUNCTION OF GENERAL INSURANCE CORPORATION OF INDIA

Role & Function of Citibank India

• Established: August , 1996
• Paid-up Capital: 5 cr
• CAR >= 9% (It will be 15 % in 3 to 4 years)

What Are Local Area Banks?

Local Area Banks, often abbreviated as LABs, are specialized financial institutions designed to serve a specific geographic region. Unlike large commercial banks with a nationwide presence, LABs have a limited operational area, typically focused on a specific locality, district, or region.

Features and Objective:

1. The intention of the government was to set up new private local banks with jurisdiction over two or three contiguous districts
2. They are licensed under the Banking Regulation Act, 1949
3. The Local Area Banks are the only type of Non-scheduled Banks of India.they are eligible to be included in the Second Schedule of the RBI Act 1934 subject to eligibility criteria of RBI.
4. The promoters could be individuals, firms or societies. The family of the individual promoters was not allowed to keep more than 40% of the equity capital of the banks. The NRI promoters could not exceed more than 20% of total number of promoters.
5. Each Local Area Bank is allowed to open branch in only one urban centre per District and rest of the branches were allowed to be opened in the rural and semi urban centers subject to requisite clearance in respect of rural branches from the District Consultative Committee.

Importance of Local Area Banks:

1. Financial Inclusion: LABs play a vital role in bringing financial services to underserved areas. They help bridge the gap between traditional banking institutions and individuals who lack access to banking facilities.
2. Economic Development: By providing credit and financial services to local businesses and entrepreneurs, LABs contribute to the economic growth of their operational areas.
3. Community Empowerment: These banks empower communities by offering financial education, encouraging savings, and promoting responsible financial practices.

Current Functioning Local Area Banks in India

There are 4 Local Area bank as of 2015.

There are only four Local Area Banks (LAB) in India, which exist in the form of Non-scheduled banks. They are as follows:

Coastal Local Area Bank Ltd

This bank was established on 27^th December 1999. Its area of operation includes three contiguous districts viz. Krishna, Guntur and West Godavari. Its head office is located at Vijayawada in Andhra Pradesh.

Capital Local Area Bank Ltd

This bank was established on 14^th January 2000. Its area of operation includes three districts viz. Jalandhar, Kapurthala and Hoshiarpur in Punjab. The head office is at Phagwara (Punjab).

Krishna Bhima Samruddhi Local Area Bank Ltd

This bank was established on 28^th February 2001 with an area of operation comprising three contiguous districts of Mahbubnagar in Andhra Pradesh and Raichur and Gulbarga in the state of Karnataka with its head office at Mahbubnagar(Andhra Pradesh).

Subhadra Local Area Bank Ltd., Kolhapur

This is smallest Local Area Bank with only 8 branches. Its head office is in Kolhapur.

How Do Local Area Banks (LAB) Operate?

Local Area Banks operate under the regulatory framework of the Reserve Bank of India (RBI), ensuring that they adhere to the same financial and governance standards as other banks. However, they are required to maintain a specific geographical focus and cannot establish branches outside their designated area.

In addition to basic banking services, LABs often offer agricultural and rural development loans, microfinance, and other customized financial products designed to meet the local community’s requirements.

Local Area Banks in India serve as the financial backbone of local communities, facilitating economic growth and financial inclusion. By understanding their role and significance, individuals and businesses can take advantage of the services and opportunities these banks offer. As LABs continue to contribute to the economic well-being of their local areas, they play a crucial part in the nation’s ongoing journey towards financial empowerment and prosperity.

Why are banks nationalized in India?

1. Class banking to Mass banking banks nationalized in India
2. Expansion of banking activity in ruler & semi-urban areas.
3. To raise public confidence in banking system
4. movalis of saving and current account from the ruler & semi-urban areas.
5. To serve better need of the development of economy with national priority and objective.
6. Cheque consideration of wealth in few banks. banks nationalized in India

Banks are nationalized in India

Bank nationalization in India is a significant turning point in the country’s financial landscape. It refers to the process of the Indian government acquiring ownership and control over several private banks. This transformation began in 1969 and continued in 1980, with the goal of achieving broader socio-economic objectives.

Historical Background: To understand the reasons behind this major step, it’s crucial to consider the historical context. In the pre-nationalization era, a handful of private banks dominated the Indian banking sector. These banks catered primarily to the needs of the urban and elite sections of society, leaving rural and underprivileged communities underserved.

Reasons for Bank Nationalization:

1. Financial Inclusion: One of the primary motives behind nationalization was to promote financial inclusion. By bringing banks under government control, it became possible to extend banking services to remote and underbanked regions of the country.
2. Economic Stability: The government aimed to ensure stability in the financial system and prevent financial crises. Nationalization allowed the government to regulate and monitor the banking sector effectively.
3. Social Equality: By nationalizing banks, the government sought to reduce economic disparities and promote social equality. This move enabled equitable distribution of credit and resources.
4. Credit for Priority Sectors: Nationalized banks were directed to allocate a significant portion of their funds to priority sectors such as agriculture, small-scale industries, and exports, fostering economic growth.

Impact of Bank Nationalization: The effects of bank nationalization have been profound. It led to a more inclusive and robust banking system, where the benefits of banking reached even the remotest corners of the country. The credit flow to agriculture and small industries increased significantly, spurring rural development and employment opportunities.

Reserve Bank of India(RBI): भारतीय रिज़र्व बैंक

Establish: 1^st April 1935

Nationalize: 1^st Jan 1949 (According to Act 1948) Reserve Bank of India

Headquarter: Mumbai

Paid-up Capital: 5cr

RBI 1^st Governor: O. Smith

1^st Indian Governor: C D Deshmukh Reserve Bank of India

Financial Year: 1^st July to 31^st June

Minimum Reserve System: 200cr = 115cr (Gold) + 85cr (Foreign Currency)

The Reserve Bank of India, often referred to as the RBI, holds a prominent place in India’s financial history. Established on April 1, 1935, under the RBI Act, it was nationalized in 1949. Its primary mission is to oversee India’s monetary policy, regulate the country’s banking sector, and manage foreign exchange reserves. Over the years, the RBI has played a pivotal role in fostering economic stability and development.

The RBI’s journey began with Sir Osborne Smith as its first Governor, and it has been guided by illustrious individuals like C. D. Deshmukh and Benegal Rama Rau, who made significant contributions to India’s financial system. It has witnessed various phases and transformations, adapting to the ever-changing economic landscape. The RBI has been instrumental in introducing key financial reforms, such as the nationalization of banks in 1969 and the introduction of the Indian Financial Code.

In recent years, the RBI has been at the forefront of digital transformation, emphasizing the promotion of a cashless economy and ensuring the security of digital transactions. Its role during the COVID-19 pandemic as a stabilizing force in the financial sector has been crucial, with measures like loan moratoriums and liquidity support.

• In 1926 “John Hilton Young Commission” recommended to the government to establish a central bank for India. Reserve Bank of India
• John Hilton Young Commission is also known as “Royal Commission” on Indian currency and finance.
• In 1934 RBI (Reserve Bank of India) Act was passed.  reserve bank of India

Board of Director of RBI: Reserve Bank of India

Total Member: 21 Reserve Bank of India

Governor: 1

Deputy Governor: 4 (2 deputy governor appointed by RBI, 1 Deputy governor by the government and 1 Deputy governor is an officer of Commercial Bank)

Director: 4 (Head of a local/zone of RBI)

Director: 10 (Experts & Different Fields)

Government Employee: 2 (Generally, 1 Secretory of Finance Minister)

The function of RBI:

• Prices stability in credit control through monetary policy
• As currency authority
• Regular and supervisory function
• Bankers to the bank
• Bankers to the government
• Foreign exchange manager
• OMO (Open Market Operation)

RBI Policy:

Financial Inclusion, KYC-Norms, Micro-Finance, Banking Oman cements, NPA, CAR, BASEL-Norms, Bank Assurance, Negotiable Instrument Act., Bank Customer Relationship etc.

There are five regularizes bodies in India: Reserve Bank of India

1. FMC – Forward Market Commission – Commodity Market
2. SEBI – Securities and Exchange Board of India – Capital market regulator
3. IRDA – Insurance Regulatory and Development Authority – Insurance Regulator
4. PFRDA – Pension Fund Regulatory and Development Authority – Pension Regulator
5. Money Market Regulator

There are four Printing Press(notes) in the country: RBI

• Nasik (Maharashtra) – Currency note press, India Security Press
• Devas (Madhya Pradesh) – Banknote press
• Mysore (Karnataka) – Currency note press
• Salboni (West Bengal) – Currency note press

1. Security Paper Mill: Hoshangabad (Madhya Pradesh)
2. Security Printing Press: Hyderabad (Andhra Pradesh)

Local Board of RBI:

• Northern Zone: Delhi
• Southern Zone: Chennai
• Eastern Zone: West Bengal (Kolkata)
• Western Zone: Mumbai
• Total Regional Office: 19
• Total Sub Regional Office: 09

Note:

• RBI held 6 meeting in a year. There should be held 1 meeting in 3 months to review of monetary policy.
• Rs 2 to 10000 notes are issued by RBI and Rs. 1-rupee note is issued by Finance Minister
• The denomination of note is written in 15 languages.

In a nutshell, the Reserve Bank of India has a rich and dynamic history, shaping the nation’s economy and financial system. From its inception in 1935 to its significant role in today’s digital age, the RBI continues to be a pillar of strength, fostering economic stability and progress. Its journey reflects the evolution of India’s financial sector, and its legacy continues to influence the nation’s economic future.

History of AXIS Banks: Welcome to our blog post, where we’ll take you on a succinct journey through the captivating history of Axis Bank, tracing its evolution from inception to becoming one of India’s leading private sector banks in a single paragraph. Axis Bank’s story is a testament to resilience, growth, and adaptability in the ever-evolving world of finance.

Founded in 1993 as UTI Bank, the institution made its mark in 2007 with a rebranding that signaled a fresh start and an expansion into a wide range of banking and financial services. From its humble beginnings, Axis Bank grew exponentially, with an expanding network of branches and ATMs, making banking services more accessible. The bank introduced innovative services, including Internet banking and mobile banking, to keep pace with technological advancements.

Throughout its journey, Axis Bank achieved significant milestones, such as pioneering the Axis Bank Travel Currency Card for seamless foreign travel. The bank didn’t limit its growth to India; it ventured into the international market, establishing branches worldwide to serve a broader customer base.

Today, Axis Bank is renowned for its commitment to customer service, wealth management, and investment banking, among other services, and actively engages in corporate social responsibility, contributing to community development. As we explore Axis Bank’s history in this blog post, we’ll discover the keys to its success and its vision for the future.

Key Points:

1. Finally, in on 30th of July 2007, UTI Bank has been officially changed its name to ‘The AXIS Bank’.
2. In 2006, UTI Bank opened its first overseas branch in Singapore
3. UTI Bank got listed on London Stock Exchange in 2005.
4. In 2003 UTI Bank Has become the first Indian bank to launch the Travel currency card
5. The first branch was inaugurated on 2nd April 1994 in Ahmedabad by Dr. Manmohan Singh, the finance minister of India.
6. In December 1993 UTI(Unit Trust of India) Bank started its operation.

The Bank has ten wholly owned subsidiaries

1. Axis Capital Ltd.
2. Axis Direct
3. Axis Finance Ltd.
4. A.Treds Ltd.
5. Axis Private Equity Ltd.
6. Axis Trustee Services Ltd.
7. Axis Mutual Fund Trustee Ltd.
8. Axis Bank UK Ltd.
9. Axis Securities Europe Ltd.
10. Axis Asset Management Company Ltd.

Services

Retail Banking

In the retail category, the bank offers services such as lending to individuals/small businesses subject to the orientation, product and granularity criterion, along with liability products, card services, Internet banking, automated teller machines (ATM) services, depository, financial advisory services, and Non-resident Indian (NRI) services

Corporate Banking

Credit:

The Bank offers various loan and fee-based products and services to Large and Mid-corporate customers and Small and Medium Enterprise (SME) businesses. These products and services include cash credit facilities, demand and short-term loans, project finance, export credit, factoring, channel financing, structured products, discounting of bills, documentary credits, guarantees, foreign exchange and derivative products

Transaction Banking:

Formed in April 2015, TxB provides integrated products and services to customers in areas of current accounts, cash management services, capital market services, trade, foreign exchange and derivatives, cross-border trade and correspondent banking services and tax collections on behalf of the Government and various State Governments in India

Treasury:

The Treasury manages the funding position of the Bank and also manages and maintains its regulatory reserve requirements. It invests in sovereign and corporate debt instruments and engages in proprietary trading in equity and fixed income securities, foreign exchange, currency futures and options

Establish: July 1945

Headquarter: Washington, D.C., U.S.

Membership: 189 countries (IBRD), 173 countries (IDA)

President: click here

Website: http://www.worldbank.org/

History of World bank(WB):

The World Bank, a global institution with a profound impact, has a rich history. The World Bank traces its roots back to the historic Bretton Woods Conference in 1944, where world leaders sought to establish a stable international economic system after World War II. Initially named the International Bank for Reconstruction and Development (IBRD), it was primarily tasked with helping war-torn Europe rebuild. Its pivotal role in administering the Marshall Plan marked the beginning of its journey.

As Europe recovered, the World Bank’s mission expanded beyond reconstruction. In the 1950s, it transitioned into fostering economic development in developing countries, offering financial assistance for infrastructure, education, and agriculture projects. This shift was a crucial step in broadening the World Bank’s influence and reach.

The 1980s brought challenges in the form of a global debt crisis that hit many developing nations hard. The World Bank had to adapt and implement significant reforms to address these issues. The 1990s saw a renewed commitment to poverty reduction and social development, reflecting the changing global landscape.

Key Milestones of World Bank:

1. Marshall Plan: The World Bank played a pivotal role in administering the Marshall Plan, contributing to Europe’s post-war recovery.
2. Development Focus: The 1950s marked the transition from reconstruction to development, broadening the institution’s scope.
3. Debt Crisis: The 1980s presented a challenging period, forcing the World Bank to adapt and reform.
4. Poverty Reduction: In the 1990s, the institution doubled down on its commitment to reducing global poverty.

The function of the World Bank:

1. Granting reconstruction loans to war-devastated countries.
2. Granting developmental loans to underdeveloped countries.
3. Providing loans to governments for agriculture, irrigation, power, transport, water supply, educations, health, etc
4. Providing loans to private concerns for specified projects.
5. Promoting foreign investment by guaranteeing loans provided by other organizations.
6. Providing technical, economic and monetary advice to member countries for specific projects
7. Encouraging industrial development of underdeveloped countries by promoting eco­nomic reforms.

The objective of the World Bank:

1. To provide long-run capital to member countries for economic reconstruction and development
2. Induce long-run capital investment for assuring Balance of Payments (BoP) equilibrium and balanced development of international trade
3. To provide the guarantee for loans granted to small and large units and other projects of member countries
4. Ensure the implementation of development projects so as to bring about a smooth transference from a war-time to peace economy
5. To promote capital investment in member countries by the following ways –
   1. To provide a guarantee on private loans or capital investment.
   2. If private capital is not available even after providing a guarantee, then IBRD provides loans for productive activities on considerate conditions.

Purpose of the World Bank

1. Reduce poverty.
2. Develop an investment-environment.
3. Increase job opportunities.
4. Work towards sustainable economic growth.
5. Promote socioeconomic growth through investment.
6. Strengthen governments with education.
7. Empower the development of legal and judicial systems, business opportunities and protection of individual rights.
8. Benefit from microcredit as well as large corporate undertakings.
9. Combat corruption.
10. Promote research and training opportunities
11. Provides low-interest loans,
12. Interest-free credits
13. Grants to include investments in education, Health, Public Administration, Infrastructure,
14. Financial and private sector development,
15. Agriculture, Environmental and natural resource management.

There are 5 World Bank Groups:

1. International Bank for Reconstruction and Development (IBRD)
2. International Development Association (IDA)
3. International Finance Corporation (IFC)
4. Multilateral Investment Guarantee Agency (MIGA)
5. International Centre for Settlement of Investment Disputes (ICSID)

International Bank for Reconstruction and Development (IBRD)

The IBRD, the original arm of the WB, offers assistance to middle income and poor but creditworthy countries and it also works as an umbrella for more specialized bodies under the World Bank.

International Development Association (IDA)

The IDA offers loans to the world’s poorest countries. These loans come in the form of “credits,” and are essentially interest-free. They offer a 10-year grace period and hold a maturity of 35 years to 40 years.

International Finance Corporation (IFC)

The IFC works to promote private sector investments by both foreign and local investors. It provides advice to investors and businesses and it offers normalized financial market information through its publications, which can be used to compare across markets. The IFC also acts as an investor in capital markets and will help governments privatize inefficient public enterprises.

Multilateral Investment Guarantee Agency (MIGA)

The MIGA supports direct foreign investment into a country by offering security against the investment in the event of political turmoil. These guarantees come in the form of political risk insurance, meaning that MIGA offers insurance against the political risk that an investment in a developing country may bear.

International Centre for Settlement of Investment Disputes (ICSID)

The ICSID facilitates and works towards a settlement in the event of a dispute between a foreign investor and a local country.

IMPORTANT QUESTION:

Q: Goals of World Bank includes

1. promotion of foreign investment
2. promotion of international trade
3. facilitation of capital investment
4. all of the above

Q. First country who has received the loan from World Bank is

1. United Kingdom
2. Russia
3. France
4. Germany

Q. Organization which is not a member of World Bank Group is

1. International Monetary Fund
2. International Finance Corporation
3. International Development Association
4. International Bank for Development and Reconstruction

Q. World Bank is a recognized member of

1. United Nations Development Council
2. United Nations Development Group
3. United Nations Security Council
4. United Nations General Assembly

Q. International financial institution ‘World Bank’ was founded in

1. October 1948
2. April 1949
3. July 1944
4. May 1945

Q. What is the other name of World Bank

1.  International Monetary Fund
2. International Bank for Development
3. ASIAN Bank
4. None of them

Q. How many members the World Bank currently has?

1. 130
2. 189
3. 175
4. 188

Q. The World Bank has its headquarters in _____________.

1. Paris
2. Washington, DC
3. Hague
4. India

If you feel any mistake in the answer to any question or there is an update about this post, please let us know by leaving a comment in the comment box below.

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OBJECTIVE AND FUNCTION OF LEAD BANK

Deposit Insurance & Credit Guarantee Corporation of India

Bandhan Financial Services Limited ( BFSL )

2023 में  सैलरी के हिसाब से जानें कितना देना होगा टैक्स: मेरे प्यारे रीडर्स आज मैं आपको इनकम टैक्स के बारे में बताने जा रहा हूँ क्योंकि 28 फरवरी 2023 को वर्तमान वित्त मंत्री श्रीमती निर्मला सीतारमण जी ने पूर्ण बजट पास किया है, यह 1 अप्रैल 2024 से प्रभावी हो जाएगा और इस बजट में उन्होंने इनकम टैक्स के बारे में कुछ बदलाव किये हैं इसलिए मेरे लिए और आप के लिए यह जानना बहुत जरूरी है की इनकम टैक्स का स्लैब क्या है और सैलरी के हिसाब से हम लोगों को कितना टैक्स देना होगा?

अभी तक जिंस व्यक्ति का सालाना आमदनी ₹5,00,000 होता था उन लोगो को टैक्स नहीं देना पड़ता था तो आइये नीचे देखते हैं 2020 के अनुसार कर व्यवस्था में कितने स्लैब रखे गए थे |

हम सभी जानते हैं की 2020 के अनुसार मोदी सरकार ने कर व्यवस्था में सात टैक्स स्लैब रखी थी जो निम्नलिखित है:

1. 0 से 5 लाख तक – कोई टैक्स नहीं
2. 5 से 5 लाख तक- पांच फीसद
3. 5 लाख से 5 लाख तक- 10 फीसद
4. 5 लाख से 10 लाख तक- 15 फीसद
5. 10 लाख से 12.5 लाख तक- 20 फीसद
6. 12.5 लाख से 15 लाख तक- 25 फीसद
7. 15 लाख से अधिक पर- 30 फीसद

मैंने नए कर व्यवस्था के बारे में कई लोगों से बात किया है बहुत सारे लोगों का कहना है की नया कर व्यवस्था बाई डिफ़ॉल्ट है और पुराना कर व्यवस्था वैकल्पिक है|

इन्कम टैक्स देने वाले लोग चाहे तो छूट और कटौती के साथ पुराने कर व्यवस्था में बने रह सकते हैं पुराना टैक्स स्कीम में आप कई तरह के छूट पा सकते हैं जैसे 80 सी के अनुसार 1,50,000 रुपये का छूट, 80 डी के अनुसार 25000 रुपये का छूट पा सकते हैं आपको मैं बताना चाहूंगा | पुराना कर व्यवस्था खत्म नहीं हुआ है और ये अभी भी जारी है कोई भी व्यक्ति अपने लाभ और हानि के अनुसार देख कर और अच्छे से समझकर नए या पुराने कर व्यवस्था को चुन सकते हैं |

नया इनकम टैक्स स्लैब निम्नलिखित हैं : 2023 Income Tax sab

आपसे विनती करता हूँ नीचे लिखे हुए वाक्य को बहुत ध्यान से पढ़िए और समझिए:

7,50,000 रुपया सैलरी पर कितना देना होगा टैक्स

₹7,50,000 सैलरी के हिसाब से जानें कितना देना होगा टैक्स: आप अगर ₹7,50,000 सालाना कमाते हैं आपको कोई भी टैक्स नहीं देना होगा और अगर आप 7,50,000 या सैलरी पाने के मामले में इससे अधिक कमाते हैं तो आपको नए वहाँ लेकर व्यवस्था में दी गई स्लैब के अनुसार से जाना होगा जैसे ही आपका वेतन 7,50,000 रुपये को पार करती है वैसे ही आप टैक्स स्लैब के दायरे में आ जाएंगे

अभी के अनुसार 3,00,000 रुपये पर कोई टैक्स नहीं देना होगा लेकिन इसके बाद 3,00,000 से 6,00,000 पर पांच प्रतिशत की दर से ₹15,000 रुपए देने होंगे| जबकि 9,00,000 पर 10% दर् से ₹30,000 रुपये देने होंगे

12,00,000 रुपया सैलरी पर कितना देना होगा टैक्स

₹12,00,000 सैलरी के हिसाब से जानें कितना देना होगा टैक्स: जो आदमी ₹12,00,000 रुपये सालाना कमाता है तब पहले की तरह शुरुआती 3,00,000 पर कोई टैक्स नहीं देना होगा इसके बाद के 3,00,000 पर 5% की दर से ₹15,000 उसके बाद ओके 3,00,000 पर 10% की दर से 30,000 और बाकी बचे 3,00,000 पर 15% की दर से ₹45,000 देने होंगे इस तरह आपको 90,000 इन्कम टैक्स और टैक्स पर 4% की दर ₹3600 रुपये देने होंगे कुल मिलाकर ₹12,00,000 रुपये सालाना कमाने वाले लोगों को ₹93,600 रुपये देने होंगे

15,00,000 रुपया सैलरी पर कितना देना होगा टैक्स

₹15,00,000 सैलरी के हिसाब से जानें कितना देना होगा टैक्स: जो आदमी ₹15,00,000 रुपये सालाना कमाता है उसको 20% की दर से कर देना पड़ता है लेकिन आपको अपने पूरे आमदनी पर 20% कर नहीं देना होगा आपने ₹12,00,000 से जो भी ज्यादा कमाया होगा यानी सिर्फ ₹3,00,000 रुपया पर 20% की दर्द से कर देना होगा और बाकी के रुपयों पर शुरुआती टैक्स स्लैब लागू रहेंगे आपको ₹1,50,000 इनकम टैक्स देना होगा

नोट: मैं आपको सुझाव दूंगा कि जब भी आप टैक्स भरें तो किसी सीए से या किसी जानकार आदमी से सुझाव जरूर लें|

Pradhan Mantri Kisan Samman Nidhi Yojana

As you know, India is an agricultural country. In India, People depend on agriculture. To Keep it in view, Prime Minister Narendra Modi has started the Kisan Samman Nidhi Scheme for the benefit of farmers. There are 12 crores Indian framers will get benefit from PM Kisan Samman Nidhi Yojana. The Kisan Samman Nidhi Yojana will cost Rs. 75 thousand crores on the public exchequer. The Central Government will bear the full expenditure of the Prime Minister’s Kisan Award Fund Scheme.

Pradhan Mantri Kisan Samman Nidhi Yojana: Under the Pm Kisan Samman Nidhi Yojana, the assistance of Rs 6,000 will be provided to Indian farmers in the bank accounts through direct benefit transfer (DBT) every year. This amount will be given to them in three installments of Rs 2,000-2,000. The first installment will be transferred in the accounts till 31st March.

The benefits of this PM Kisan Samman Nidhi Yojana will be given to all small and marginal farmers of the country by the Government of India. The benefit of the Kisan Samman Nidhi Yojana will be given to all the lower class farmers having land of up to 2 hectares. Please, read this article carefully. In this article, we will provide detailed information about the Kisan Samman Nidhi Scheme 2019.

Important Key Points about PM-KISAN Yojana:

PM Kisan yojana has been decided to implement from December 1, 2018. The government has needed Rs 20,000 crore (approx) in this financial year. Kisan Samman Nidhi Yojana will benefit to those farmers who come in the 2015-16 Agricultural Census. The government had released Agriculture Census 2015-16 last year. Most of the states are keeping track of electronic records.

Benefits of Kisan Samman Nidhi Yojana

• The government has announced the MSP cost (crops) will be 1.5 times.
• Only those farmers can get the benefits under the Prime Minister Kisan Samman Nidhi Yojana who having land up to 2 hectares. will get 6 thousand rupees every year.
• The 6 thousand rupees will be transferred to Indian farmer’s bank in 3 installments.
• It will benefit 12 million farmers in the country.
• This scheme will be implemented on December 1, 2018.
• A sum of Rs 75,000 crore has been allocated for the farmers’ fund.
• The aim of doubling the income of farmers is achieved by 2022.
• The first installment will be transferred in the accounts of farmers within 31st March 2019.

Eligibility for the Kisan Samman Nidhi Yojana online application

• Under the Kisan Samman Nidhi Yojana financial assistance of Rs. 6 thousand per annum to all small and marginal farmers of the country.
• Only the farmer can avail the benefits of this Government Farmers’ Reservation Fund, which has land of 2 hectares or less.
• The amount given under the Kisan Samman Nidhi Yojana will be sent directly to the bank account of the farmers.
• The amount of money received under this scheme will be given to the farmers in three installments of 2 to 2 thousand.
• The government’s plan of this government scheme will be given to 12 crore people of the country and marginal farmers.

Documents required for the Kisan Samman Nidhi Yojana application

• Aadhaar card is required to apply.
• There must be a farmer passbook to apply.
• It is mandatory to have a bank account.
• It is mandatory for the farmer to have own land documents.

How to online apply Pradhan Mantri Kisan Samman Nidhi Yojana

• Click here (http://pmkisan.nic.in) to go official website of Pradhan Mantri Kisan Samman Nidhi Yojana.
• Pradhan Mantri Kisan Samman Nidhi Yojana will be started online registration soon.
• Dear Readers, We will provide you with the Kisan Samman Nidhi online Application Form.

Some Important Links:

Deposit: Demand Deposit and Term Deposit

Demand Deposit: demand deposit and term deposit

The deposit which is payable on demand of the customer i-e known as the demand deposit. demand deposit and term deposit

There are two types of demand deposit:

1. Saving Account
2. Current Account

Saving Account (SA):

1. It is open to developing saving habits among people.
2. The rate of interest paid by bank 4% per annum up to 1 lakhs which are regulated by RBI & above 1 Lakhs depends on the bank. demand deposit and term deposit
3. Example: BMB=4.5%, Yes Bank, Kotak Mahindra Bank=6.5% (approx)
4. Banks are calculating interest on the daily basis from April 2010.
5. The minimum interest rate is determined by RBI but regulated by respective banks.

Current Account (CA):

1. It is open for business purpose activity.
2. Banks are not paying any interest in current Account.
3. Overdraft Facility is provided to current account holders.
4. Current Account is regulated by RBI
5. PAN card is necessary and this account is open with minimum 10000 balance.

Difference between RTGS and NEFT

Definition of Bank and Banking Regulation Act

Term Deposit:

The deposit which is deposited for a particular term /time/period is called Time/Term deposit. demand deposit and term deposit

There are two types of term deposit:

1. Fixed Deposit
2. Recurring Deposit

Fixed deposit (FD):

1. If a lump sum (approx) amount is deposited at a time for a particular period is known as the Fixed Deposit.
2. The interest rate on the Fixed deposit is decided by respective banks only based on market value.
3. Minimum Tenure: 7 days, Maximum Tenure=10years

Recurring Deposit (RD):

1. If any particular amount is deposited after every particular interval/Period.
2. The interest rate on RD decided by respective banks only based on market value. Example: 2000/- Per month for 1 year
3. Minimum Tenure, Maximum Tenure: 10 years

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Understanding Credit Cards:

Types of Credit Cards:

Credit cards come in various types, each catering to different needs and financial situations. Some common types include:

1. Standard Credit Cards: These are the most basic credit cards, offering a line of credit that you can use for everyday expenses.
2. Rewards Credit Cards: With rewards credit cards, you can earn points or cashback on your purchases, which can be redeemed for various benefits such as travel, gift cards, or statement credits.
3. Secured Credit Cards: Secured cards are ideal for those with limited or damaged credit. They require a security deposit, which serves as collateral for the credit limit.
4. Charge Cards: Unlike traditional credit cards, charge cards require you to pay the balance in full each month, with no option to carry a balance.

The Advantages of Using a Credit Card:

Using a credit card can offer several advantages:

1. Convenience: Credit cards provide a hassle-free way to make purchases online and in stores without the need for cash.
2. Rewards and Benefits: Many credit cards offer rewards such as cashback, travel miles, or discounts on specific purchases.
3. Builds Credit History: Responsible credit card use can help establish and improve your credit score, which is crucial for future financial endeavors.
4. Emergency Fund: Credit cards can serve as a financial safety net during unexpected emergencies.

The Disadvantages of Using a Credit Card:

While credit cards offer many benefits, they also come with potential drawbacks, including:

1. Interest Charges: Carrying a balance on your credit card can result in high-interest charges, which can quickly accumulate.
2. Overspending: Easy access to credit can lead to overspending and accumulating debt.
3. Credit Score Impact: Late payments and excessive credit card debt can negatively impact your credit score.

Tips on How to Use a Credit Card Responsibly:

To make the most of your credit card while avoiding financial pitfalls, consider these tips:

1. Pay Your Balance in Full: To avoid interest charges, strive to pay your credit card balance in full each month.
2. Set a Budget: Establish a monthly spending budget and stick to it.
3. Monitor Your Statements: Regularly review your credit card statements to identify any unauthorized or erroneous charges.
4. Avoid Cash Advances: Cash advances often come with high fees and interest rates. It’s best to avoid them.
5. Pay on Time: Timely payments are essential for maintaining a good credit score. Set up reminders to avoid missing due dates.