Tuesday, May 14
Senior citizens receive advantageous interest rates on bank fixed deposits. The Senior Citizens Savings Scheme (SCSS) and FDs offer unique benefits and tax advantages. ET's detailed comparison helps in understanding the eligibility, tax benefits, interest rates, deposit limits, and TDS implications.
According to the latest Economic Outlook from the OECD, India's GDP is estimated to have expanded by 7.8 percent in the recently concluded financial year 2023-24, with forecasts indicating growth rates of around 6.6 percent for each of the subsequent two fiscal years. However, global near-term developments present challenges to achieving higher growth.
The 4% Dearness Allowance (DA) hike benefits central government employees and retirees by increasing several allowances, leading to higher salaries and bigger pensions. This adjustment also impacts Children's Education Allowance (CEA) and Hostel Subsidy.
RBI uncovers unfair loan interest practices, orders refunds, and KFS implementation by October 1, 2024 for transparent loan terms and fair borrower treatment.
Changpeng Zhao, the founder of Binance, has been sentenced to four months in prison for regulatory failures that permitted cybercriminals and terrorist groups to use the platform. The sentencing occurred in Seattle by US District Judge Richard Jones. Zhao, 47, attended the court dressed in a dark suit and accompanied by several lawyers, with his family present.
On Tuesday, the Securities and Exchange Board of India (Sebi) tightened regulations for mutual funds to prevent front-running and price manipulation. Sebi will issue general guidelines for this, while the Association of Mutual Funds in India (Amfi), the industry trade body, will develop detailed guidelines, as stated in a release from the regulator. This action was prompted by multiple instances of front-running in fund companies.
GST collections cross Rs 2 lakh crore! In April 2024, the Gross Goods and Services Tax (GST) collections reached an all-time high of ₹2.10 lakh crore, marking a substantial 12.4% growth compared to the same month in the previous year.
Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, resumed their rally on Tuesday after a strong show on Monday. BSE Sensex moved up over 380 points to cross the 75,000 mark and Nifty50 was above 22,750.
