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  • Can Indian Government repay the External Debt by Printing New Currency?

    Indian government had debt of 529 billion dollar by March 2018 which further reduced to 510.4 billion dollar in December 2018. Now the question arises whether the government of India can print more money to repay this debt or not? Let’s read this article and know the all consequences of printing more money.

    Mar 14, 2019
  • Cess: Meaning and Types in India

    CESS is tax on tax and usually levied for the specific purposes. Once its purpose is solved they are stopped. Unlike the other taxes that have to be shared with other Indian states, the centre keeps the entire amount raised from the Cess. The collection through the CESS is kept in the Consolidated Fund of India. As of now there are 6 types of Cess imposed in India.

    Feb 20, 2019
  • List of Governors of Reserve Bank of India

    Since its establishment in 1935, by the British colonial government, 25 people have worked as the governor of the Reserve Bank of India. The first Governor of the Reserve Bank of India was British banker Osborn Smith, while C.D. Deshmukh was the first Indian Governor of Reserve Bank of India. At present, the Governor of Reserve Bank of India is Shashikant Das, who took charge on 12 Dec. 2018.

    Feb 11, 2019
  • What is Chit Fund and how does it work?

    Chit fund is defined as per the Section 2(b) of the Chit Fund Act, 1982. According to this act; A chit fund is a type of rotating savings and agreement among different persons i.e. friends, relatives, neighbours and family members to subscribe a certain sum of money for a specified period of time. Chit funds are often microfinance organizations. Chit Funds are also known as the Chitty, Kuree, chit.

    Feb 7, 2019
  • 6 Amazing Questions on Indian Budget You Never Knew

    The Union Budget of India, which is known also as the ‘Annual financial statement’ in the Article 112 of the Indian Constitution. The first Union budget of independent India was presented by R. K. Shanmukham Chetty on November 26, 1947. Former Prime Minister Manmohan Singh and former finance minister Yashwant Sinha are the only two leaders who presented the Union Budget of India 5 times consecutively.

    Jan 31, 2019
  • Union Budget of India: Definition and different types

    ‘Budget’ is a systematic list of items of revenue and expenditure of the government of a defined duration or we can say it’s a plan for the income and expenditure of the government for the present, past and future financial years.

    Jan 31, 2019
  • Why Rupee is falling against Dollar currently?

    At the time of India's independence, the value of one dollar was equal to one rupee but in the June 2018, the value of Indian rupee against the US dollar has reached its lowest level at Rs.72.51 per dollar. In this article, we explained the reasons behind the depreciation of Indian Rupee in the current months.

    Sep 10, 2018
  • What is the significance of the images on the reverse side of Indian Currencies?

    There will hardly be a country in the world that does not have its own currency. Almost every country puts image of important person/monuments on its currency notes. India is also not behind in this practice. Indian currency note have images of Mahatma Gandhi, the Red Fort, the Sanchi Stupa, farmers, tiger and elephants etc.

    Sep 3, 2018
  • What are the main Security Features of the Currency Notes of India?

    An estimation done by the RBI says that the number of the counterfeit notes in the FY 2017 has increased by 20% and the number reached up to 7.62 lac. The maximum numbers of fake notes were in the denomination of 500 and 2000 rupees. To aware the general public we are publishing some security features of the currency notes so that, fake notes can be detected by the general public.

    Jul 16, 2018
  • Coinage Act 2011: What you can’t do with Coins in India

    RBI prints the currency notes as per the provisions of the Reserve Bank of India Act, 1934 while the coins in India are minted as per The Coinage Act, 2011. In this article the reader will understand that which rules exist in India regarding the tendering of coins in the country. Interesting to know that the Coinage Act, 2011 is applicable in the whole India including the J & K.

    Jul 11, 2018
  • Which are the biggest Banking Scams of India?

    The banking system of any country comprises of the small savings of the people. When a large number of people deposit the money it becomes the huge amount in the hands of the banks. Commercial Banks lends this money to individuals, traders and institutions and earns profits in the form of interest. But when the lenders do not returns this amount to the banks it becomes the threat to the banks.

    Jul 10, 2018
  • Why “I Promise to pay the bearer sum of 100 Rupees” is written on the Indian Currency?

    The Reserve Bank of India (RBI) has the responsibility of printing currency notes in India. RBI prints the notes of all denomination except 1 rupee note because it is printed by the Ministry of Finance. Except one rupee note every currency note of India has the declaration of the RBI governor; “I Promise to pay the bearer sum of 100 Rupees”. Its simple meaning is; if somebody held a note of 100 rupee then it is the liability of the RBI to pay the bearer goods/gold of 100 rupee at any cost.

    Jun 26, 2018
  • List of Public Sector Banks which have highest share in NPA

    Accordingly to RBI, with effect from March 31, 2004, a Non-Performing Asset (NPA) shall be a loan or an advance where; Interest or instalment of principal remains overdue for a period of more than 90 days in respect of a term loan.

    May 4, 2018
  • Difference between Scheduled and Non-Scheduled Banks

    Banking sector of India can be broadly divided into two major groups’ i.e. scheduled bank and Non-Scheduled Banks. Banks which have been included in the second scheduled of the RBI Act, 1934; are called the scheduled bank while non scheduled banks are not included in the second schedule of the RBI Act,1934.

    May 4, 2018
  • What are the guidelines of RBI for ‘on tap’ licensing of Private banks?

    The Reserve Bank of India (RBI) had issued guidelines for licensing of new banks in the private sector on February 22, 2013. Two main guidelines to open the bank are; the aspirant entity / group should have total assets of Rs.50 billion or more and the initial minimum paid-up voting equity capital for a bank shall be Rs.5 billion. In the other words; the bank shall have a minimum net worth of Rs.5 billion at all times.

    Apr 12, 2018