Finance

Govt-RBI call truce after a marathon board meeting

Govt-RBI call truce after a marathon board meeting

Finance
Updates from : the Hindu : Panel to review economic capital for future earnings The tension between the government and the Reserve Bank of India appeared to have defused for the time being with both parties agreeing to settle for a middle ground at the end of an over nine-hour board meeting on Monday. The most contentious issue that the central bank and finance ministry locked horn was the issue of RBI’s capital. Now, while RBI has agreed for setting up of an expert committee on the economic capital framework (ECF) its mandate is restricted to future earnings and not the existing reserves, sources privy to the board deliberations told The Hindu. The membership and terms of reference of the committee will be decided by the finance minister and RBI governor. “The board decide
Deciphering LTCG tax on equity

Deciphering LTCG tax on equity

Finance
Updates from : the Hindu : What is LTCG? LTCG or long-term capital gains refer to the gains made on any class of asset held for a particular period of time. In case of equity shares, it refers to the gains made on stocks held for more than one year. In other words, if the shares are bought and held for more than a year before selling, then the gains, if any, on the said sale are referred to as long term capital gains or LTCG. Why is LTCG tax in the news? It is in the news as Finance Minister Arun Jaitley re-introduced LTCG tax on equity shares. Investors have to pay 10% LTCG tax on gains exceeding ₹one lakh on the sale of shares or equity mutual funds held for more than one year. Previously, short-term capital gains (STCG) tax of 15% was levied. The Centre said i
Rupee rises 67 paise against dollar on falling crude prices

Rupee rises 67 paise against dollar on falling crude prices

Finance
Updates from : the Hindu : A higher opening in the domestic equity market too supported the Indian currency The rupee appreciated 67 paise to 72 against the US dollar at the interbank foreign exchange Wednesday after crude prices fell to a one-year low in the global market, easing concerns over expanding current account deficit and inflation. The rise in the rupee was also supported by dollar-selling by exporters and banks and the US unit’s weakness against some currencies overseas, traders said. Furthermore, a higher opening in the domestic equity market too supported the rupee. Brent crude, the international benchmark, dropped almost 7 per cent to a one-year low of USD 65 a barrel after the US President Donald Trump urged Organization of the Petroleum Exporting Countri
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