India’s Foreign Minister, Mr. S. Jaishankar, is on his three-day visit to the Maldives, and during this visit a Memorandum Of Understanding was signed between the two countries and several important announcements followed. UPI Based Payments In Maldives An agreement was signed between the two countries to begin the use of UPI based services in the island nation. Particularly the agreement was between the NPCI of India and the Ministry of Economic Development and Trade of Maldives. UPI And The Digital Ecosystem UPI is a payments system developed by the National Payments Corporation of India (NPCI) and facilitates quick inter-bank…
Author: tripti.agarwal
The Reserve Bank of India, on this Thursday made certain important announcements. These announcements dealt with tax payments, cheques, online loans and the repo rate of India. UPI Based Tax Payments The RBI has now proposed to expand the upper limit for the UPI- based tax payment mechanism from a mere ₹1 lakh to a value of ₹5 lakh. The RBI has done this as people use various UPI systems and have to often pay direct and indirect taxes, the values of which can be pretty high in certain cases. This will make it easier to operate and to pay…
Today a significant announcement was made by the Government of India, as the LTCG (Long Term Capital Gains) tax was amended to provide some relief to the real estate holders. Changes In Tax Rates For Property The Finance Minister, Nirmala Sitharaman, in her Budget announcement, had proposed to reduce the tax on property from 20 per cent to 12.5 per cent. But this was also accompanied by the removal of indexation. This brought the homeowners in a very tight corner as this would significantly increase their tax burden. Today’s Amendment Today, this proposal was amended. The amendment suggested that the…
IndiGo, which is India’s largest domestic airline, completed 18 years of its formation this week, and this special day was marked with a series of announcements by the aviation company. IndiGo Stretch The company has come up with a new business class product for its customers known as “IndiGo Stretch.” This business class traveling facility will run for 12 routes including Chennai, Bangalore, etc. This facility will be made available between metros in the beginning. It is expected to be rolled out by mid November. The customers can avail the booking of this facility from today, that is the 6th…
The Japanese stock market saw its biggest loss on a single day today. The Japanese index Nikkei 225 fell by a staggering 4,451 points in just one day, which is the biggest fall in its entire history. The index fell by a whopping value of almost 13 per cent today that is on Monday. For many investors and analysts, this reminded them of the Black Monday back in October 1987, when the world markets suffered a setback and saw a plunge. The Nikkei had lost 3,836 points on that day which had shook the markets. The Interest Rate Rise In…
Ola Electric launched its much-anticipated Initial Public Offering (IPO) on the 2nd of August, 2024 to raise funds for further growth and prospects in the Electric Vehicle (EV) sector. The offer for subscription of IPO is going to remain open till the 6th of August. On the first day of bidding, however, the subscription stood at just 35 per cent, indicating a very underwhelming response. The Price Band and the Subscription Details for Ola The price band for the IPO has been fixed at ₹72- ₹76 per share with a face value of ₹10 each. On the first day when…
