Lifarticle- Soumya.Santipuri

What is RBI? RBI (Reserve Bank of India) is the Central Bank of India which is the regulator of Banking system and one of the moderators of the Indian Economy. It was established under the Reserve Bank of India Act, 1934 and owned by the Ministry of Finance. Amongst many functions, it is responsible for printing Indian Currency except the 1-rupee notes and coins that are issued by the Government of India under section 6 of the coinage Act, 2011. Central Bank has also the power to destroy the currency already issued. What does issue of currency actually mean? Issue of currency means inclusion of liquidity in the economy which increases the money supply. Money refers to the total volume of currency held by the public at a particular point of time. Currently, Bank notes in circulation is 31,05,721 Crores having denominations of 10, 20, 50, 100, 200, 500 and 2000 as in March, 2022 as per the Annual Report by the RBI. These notes issued by RBI are bearer promissory notes containing ...

  1. Opting into the new tax regime- The new budget 2023 has popularised the new tax regime under Section 115BAC and it is the government’s intention to have a uniform tax regime for all in the future. This regime was introduced in 2020 due to major disallowed exemptions and deductions with minuscule added benefits. However, in this budget the new tax regime got a transformation with lesser slabs and most interestingly it has raised the limit of 5 lakhs to 7 lakhs in order to provide the benefit of rebate. It is now optional to convert into the new tax regime and enjoy the benefit of zero tax in case your income is up-to 7 lakhs but there’s obviously a catch. The new tax regime actually disincentivise the thrift because in the old tax regime you could save taxes by doing tax saving investments in 80C, 80D,80TTA, 80TTB Employee’s contribution to NPS and later on earn income from that source.  If you are already claiming deduction more than 250000 in the old tax regime, new ...

  ·         Try to attempt 100% questions. Be fast from the beginning so that you have time to revise. ·         Even your last day revision matters. ·         Utilize reading time to carefully prioritize the questions. It is not advised to read the compulsory questions at that time. For MCQs no reading time is given. ·         Amendments, latest RTP and 2 MTPs are must. If you don’t have time to solve, just go through the sample answers. ·         For Accountancy- Do no spend more than 40 minutes on AS, ·         For Tax, plan your time for MCQs. They will be tricky and lengthy. In paper, you should be prepared for new and lengthy questions. ·         For Practical subjects, maintain steps in answers. Huge step marks are provided. · ...

  “All I’ve known is trading and investing. I don’t want to do anything else in life,” Jhunjhunwala told the Reuters news agency 10 years ago. “I’ll call it quits the day I die.” ·         Jhunjhunwala died of sudden cardiac arrest the age of 62. He died at Breach Candy hospital at 6.45 am on 14 th August, 2022 ·         While Jhunjhunwala had been keeping unwell for some time and was admitted to Breach Candy Hospital in July for a check-up ·         By the time of his unfortunate demise, he had done enough to restore the power and glory of a stock market badshah, including run-ins with the markets regulator, which he mostly settled without accepting wrongdoing. He was the risk-taker who became an icon for a generation of investors by showing them that an ordinary person could make a fortune with disciplined and informed investing. It is easy to see him as a man with the ...