Thursday, 10 November 2016

How can I exchange old Rs 1000 and Rs 500 Notes ?

Modi has taken a bold and effective step to curb black money. If you don’t have a black money, it should not bother you much. Your hard earned money will always be yours. You have enough time and opportunities to exchange the old Rs 500 and Rs 1000 notes to legally valid currency notes.
  1. You can deposit in your account in any bank or post starting from 10/11/2016 to 30/12/2016. There is no limit for this deposit.
  2. Once you deposit your Rs 1000 and Rs 500 notes, you can withdraw in legally valid currency notes up to Rs 10000 per day and Rs 20000 per week from the bank or post offices.
  3. One can exchange the notes at banks or head and sub post offices producing identification documents like PAN, EPIC, Adhar, Passport etc. This kind of exchange of notes is capped at Rs 4000 up to 24/11/2016 and Rs 20000 from 25/11/2016 to 30/12/2016.
  4. Even if you can not exchange your old Rs 1000 and Rs 500 notes during the given period up to 30/12/2016, you can exchange notes at specified RBI offices with a declaration up to end of this financial year.
  5. One can withdraw up to only Rs 2000 at ATMs as of now from 10/11/2016 and it will be increased to Rs 4000 soon.

Tuesday, 9 August 2016

Transforming india : A cashless life spread soon all over india

India is going to change, rural India is adopting cost effective convenient technologies. Get your mobile banking service soon, be registered for mobile payments and be sure you are not a financially illiterate in front of your Panwala or a Vegetable Seller. Now let us see how you can pay that Panwala. It is possible immediately within 30 seconds through Inter bank Mobile Payment Service (IMPS), a unique concept of mobile based account to account funds transfer, which is the brain child of National Payment Corporation of India- NCPI. Inter bank Mobile Payment Service enables one to send money to another bank account using the mobile number and MMID of the receiver. MMID is a unique number called Mobile Money Identifier given to every account holder having IMPS. So what you need to do is just open your mobile banking application, select fund transfer, then IMPS, enter the amount to be transferred, the payee's mobile number and his MMID. Confirm the payment using your PIN, within 30 seconds payee gets and SMS telling stating that he has got the credit in the account from you. The payments completed and you can walk away without arguing for changes of soiled noted.

The PoS payments in the rural areas could not penetrate much due to the cost involved in it. There are 225 million ATM cards are issued, where 90 million cards are issued by SBI alone. But the availability of PoS merchants is as less as 0.55 million. Merchant need to install a machine, and then he has to pay commission for every payment which ranges between Rs 1.20 to Rs 2.50. But the mobile payment system is absolutely free of charge. It can be even used for usual fund transfers. Advantages of IMPS are availability at 24x7x365 days irrespective of a bank holiday, no need to share your bank accounts with the person who sends the money, confirmation of the transaction to both the parties, hence fool proof. Many bank accounts can be linked to single mobile number using different MMIDs. MMID helps the error free transfer of money by matching with the mobile number. You can do a lot with IMPS viz mobile to mobile money transfer (don't get confused, both the parties should have a bank account), ATM to mobile money transfer, Merchant payments etc. This is the fastest inter bank fund transfer service available at present.

Visit National payments corporation of india(NPCI)  to know more . To Register to mobile banking and MMID contact to your bank.

Monday, 8 August 2016

RRB NTPC 03/2015 Result 2016

Are you looking for RRB NTPC RESULT 2016 Region wise ?
The indian Railway RRB NTPC Result is announcing position`s for ASM , Goods Guards ,Clerk , TA , CA, and NTPC on August 2016 . However , Result for the above listed position from different has been enlisted their zone wise PASS PERCENTAGE.
A large number of candidates participated in the RRB examination conducted from march to  june 2016 , since it`s a computer based valuation and made results dates had got fluctuated so far and it is now RRB has the arrangements to check the railway Non technical examnination results 2016 available for region wise.

The Aspirants those who awaiting for the results online for RRB NTPC  result 2016 should hold their registration number and should bothered about their date of birth for the signing to enroll their results online there will be rumors spreading about the main examination.there is nothing like that going to take place.

For more information feel free to drop queries below in comment box.

Rupay : India`s Own payment brand card

There are 225 Million ATM cards in India, of which 90 Million are from a single Bank- State Bank of India, 0.55 Million merchants have PoS machines, Rs 3000 Crore is being dispensed every day from ATM machines. We are using American Branded Visa and Master Cards for all these. How much money they are making from giving their technology and brand name? What is the volume of personal financial data is getting transferred to US every day? So there comes an idea of India’s own card brand- RuPay.

NPCI- National Payment Corporation of India is a section 25 non profit organization formed by RBI and other Indian Banks. To bring the competition in cards, reduce the cost of card payments and card issuance and most importantly to secure the data within the nation NPCI has brought its own brand of card called RuPay. Already 12 co-operative banks and Regional Rural Banks are using the RuPay ATM cards, which can be used to withdraw cash from ATMs. By the end of March 2012, debit card will be launched using the flat form of Axis Bank and SBI as acquirer (bank to which PoS machines belongs to) and issuer of cards and Union Bank of India and Bank of India as card issuer. RuPay card holder can do shopping by April 2012. It will be ready for online transactions i.e. ecommerce by June 2012.

Apart from the main stream card business RuPay is also concentrating on financial inclusion. Adhar enabled biometric cards are being issued in Jarkhand by Axis Bank, Bank of India and SBI. RBI has given permission to 18 prepaid card service provider to issue prepaid cards with easy KYC to non bank customers and migrant labours.

RuPay will not be just an domestic card. RuPay has tie up with Discover Cards which is a neutral player for Indian market and 3rd largest card issuer (Visa and Master occupy first two positions and Amex occupy the position next to Discover. RuPay cost is 50% lesser than the Visa and Master cards which are dominating Indian market.

Friday, 5 August 2016

Brief on Goods and service tax (GST)

So finally council of states approved GST bill ( A big reform in tax system after independence 1947 )

What is Goods and Service Tax (GST)
GST is a destination based tax levied on supply of goods and services
Proposed Dual GST in India is to be levied concurrently by states and central government on a common tax base

It will be levied on all stages of the supply chain till the final sale to consumers, providing ITC benefits on the basis of invoices issued at the previous stage of the supply chain

CGST stands for Central Goods and Service Tax and SGST stands for State Goods and Service Tax both shall be on Intra – State supplies of goods or services in India.
IGST stands for Integrated Goods and Service Tax shall be on Inter State supplies of goods or services in India‐ levied and collected by the Centre. (IGST shall be sum of CSGT and SGST)

Destination Based Consumption Tax
Destination based consumption tax means that state and central taxes levied at different stages of the supply chain will be totally shifted to the final destination, consumers, and the destination state will get the full SGST paid by its residents

Exports are zero rated
If credit of IGST levied on interstate movement of goods is set off against state GST by dealers in the consuming states, such credited IGST will be refunded to the consuming states
Similarly if SGST credit is utilized for payment of IGST, the concerned state which has collected the SGST should remit such credit to IGST account managed by Central Government.

Design of the Proposed GST
Center and States will levy CGST and SGST on the same tax base
CGST will replace all central indirect taxes ( Excise duty and Service Tax) on domestic goods/services excepting excise duty on tobacco products, motor fuels, and luxury goods
SGST is likely to replace the following state taxes: sales tax/VAT; entertainment taxes; entry tax; luxury tax; purchase tax; taxes on lottery, betting and gambling; cesses and surcharges
IGST to be levied on inter‐state supply
IGST will be levied on imports

Benefits of GST

Consolidation of multiple Centre & State taxes
Increased tax collection on wider tax base
Improved tax GDP ratio –revenue aligned to the economy
Better and effective administration

Ease of compliance
Reduction in effective tax rate on goods & services
Reduction in cascading effect of tax
Efficient deployment of resources

Reduction in incidence of tax on goods / services
Reduce double taxation

Bihar's Jungle Raj is back in form: Youth killed for overtaking JD(U) leader's son's vehicle

Imagine. You are driving your car on a highway in Bihar. You overtake an SUV. The people in SUV questions you for driving your vehicle faster than their vehicle. As a punishment for your superfast driving and overtaking them, you are shooted and killed.

This is happening in Bihar. JD(U) and RJ(D) alliance has brought the Jungle Raj back in Bihar. The politicians are acting as if they are the kings in the Jungle Raj.

"The Hindu" news clipping on this incident:

"The incident happened when the son of a prominent businessman of the town, Aditya Sachdeva, a plus-two examinee, was traveling in his Swift car with his friends and allegedly overtook the SUV (Sports Utility Vehicle) driven by Rocky Singh Yadav, son of JD(U) MLC Manorama Devi under Rampur police station of the district. Rocky was travelling in his car along with a security guard provided by the Bihar Police for the politician.

“We’re returning from Bodh Gaya and soon after we overtook the SUV they started firing in the air and made us stop. Then they forced us to get out of the car and started punching us. When we tried to leave the spot, someone fired and my friend got hit”, said friend of Aditya Sachdeva who was accompanying him in the car."

This is not a stray incendent. These kind of news are frequently being reported from Bihar after JD(U) and RJD coallition assumed power.

Wednesday, 1 June 2016

RRB NTPC CEN 03/2015 Result out Soon

RRB result 2016 for various posts like ASM, Goods Guard, Clerk, TA, CA, JE, Staff Nurse, Group D is available here, Check RRB NTPC result 2016 from this page. Go through the tables given below to check out more details RRB result 2016. RRB recruitment examinations are being conducted from 25th March-15th May 2016. This is a long period of examination but as per the application received by RRB, it is going to take this much time for sure.
RRB result 2016 Non technical

How to Check RRB result 2016?
  • The appeared candidate must go through the official website of RRB.
  • On the home page of the official website, choose “Check your Result “link.
  • Now, a file will open on your system in PDF format.
  • You have to enter you roll number to make sure your selection.
  • Now, the RRB NTPC written result 2016 will appear, and you can save the files or else you can take print out copy for you later reference.
RRB NTPC cut off marks 2016
The RRB examination conducted by the authorized organization and every year the examination is conducted and interested candidate on the examination. The examination conducted for the recruiting skilled competitor form several parts of the region. The examination is conducted on various levels such as Technical, Non- technical and Sub-Inspectors/ Constable Exam. According to the categories the syllabus and post will differ on the railway department. RRB result 2016 for non technical recruitment examination is expected to be released in June 2016.
                                                                  RRB NTPC
The RRB organizes difference written examination for filling difference designations in the different department of railways at every year.  After completing the examination, most of the applicants are eager for RRB result 2016. A huge number of competitors applied on this RRB examination to get Government job.
There is some competitors applied for the examination, and it is the right place to get Government job. There is a large competition around the candidate to be admitted into the RRB job. If you have appeared in any railway recruitment, board examination as well as looking for RRB recruitment result 2016 then you can verify at the official website.
Many competitors applied for the examination at the different post, and they are eagerly waiting for the RRB result 2016. Since there are many websites are available in online to see the RRB examination results.  The official website for checking the result of RRB exam 2016 is you can see this website
RRB is a Government organization, which is completely responsible for the recruitment in the Railways Departments. The Railway Recruitment Boards have a number of boards working at appointing employee from different parts of India. The RRB has now recently conducted the examination for the candidate for the recruitment job on railway department.
In this official website, you can get latest new updates as well as any notifications. Therefore, keep connected with the official RRB websites to get more additional information regarding RRB exams or else RRB NTPC result 2016.
 Here are some of the common steps to check your RRB examination result 2016. Candidate can check their result by below given instruction properly.
These are the easy step, which helps candidate to see the RRB Result 2016.
RRB cut off marks 2016 for non technical examination will decide whether candidates will be selected or not. If any candidates have scored marks more than the cut off marks for his category and post, then only he/she will be selected for that post. RRB cut off 2016 are to be released just after the announcement of RRB result 2016. We have arranged RRB cut off marks for various posts for you and link to check those cutoff marks are given below.
If you have visited the above-given link then we are sure that you already have got cut off marks. If you want to get exact cut off marks for this recruitment, then you will have to wait till the results are being announced by the board officials.
RRB result 2016 will be announced soon and exact dates are to be released by the board. You can get the latest information about RRB result and cut off marks directly in your inbox. For that, you will have to subscribe to the latest releases from the “Subscription box” which is given in the top right corner of this website. You can also Bookmark this page and visit again to get more details about the RRB NTPC result 2016.