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FinMin expects at least 80% of taxpayers to move to new tax regime

Feb 7, 2020

Revenue Secretary Ajay Bhushan Pandey said the government did an analysis of 57.8 million taxpayers before the budget and found that 69 per cent of them would save on tax payouts under the new system, while 11 per cent were found to be favouring the old regime.

RBI holds rates steady, raise deposit insurance rate marginally

Feb 6, 2020

The RBI has also decided to increase the insurance cost of bank deposits as the cover will be increased to Rs 5 lakh from Rs 1 lakh which was earlier announced by finance minister Nirmala Sitaraman in Budget 2020. The cost will be increased by 2 paise from 10 paise to 12 paise for a deposit of Rs 100 which wouldn’t increase the costs of the bank   

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