Financial Literacy News: Since January 1, 2020, the RBI has asked banks not to charge their savings account holders for NEFT transfers made online, offering a convenient avenue for savings account holders. What exactly are NEFT and RTGS, and how do they differ?
Among the proposals currently being discussed was the establishment of a single settlement bank in GIFT City, with which other entities would have dollar balances. Subsequently, debits and credits would be conducted through the settlement bank, sources said.
The income-tax (I-T) department has recorded a surge in filing of Income-tax Returns (ITRs), resulting in a new record of 8.18 crore ITRs for the A.Y. 2023-2024