Any crucial decision taken by the central government will have a direct impact on the nation and society. Lower income level groups are the ones who are most likely to get affected by such decisions. Like every year, 2018 too witnessed a few interesting happenings in the Indian business sphere.
Here, let’s us have a look at those events...
New Rs 10 & Rs 100 Denomination Notes Were Unveiled In 2018
New Rs 10 and Rs 100 denomination notes were released in 2018. Here are the details of those new denominations.
Currency: Rs 10 Currency: Rs 100
Size: 63 mm x 123 mm Size: 66mm x 142 mm
Base colour: Chocolate Brown Base Colour: Lavender
Jeff Bezos Claims Top Spot In The Forbes 2018 World’s Richest List
Jeff Bezos claimed the top spot in The Forbes 2018 world’s richest list. His total assets rose to 112 billion dollars in 2018. The principal founder of Microsoft Corporation, Bil Gates is placed second in the list.
RBI’s Initiation Gives Fruitful Results
RBI’s interesting concept of 'Payments Banks' came into force in 2018. Payments banks are like any other normal bank which accepts deposits, issues debit cards, provides net banking service & mobile banking services, however, they are restricted from issuing loans and credit cards. Airtel Payments Bank is first payments bank to begin its operations in 2018. Apart from Airtel, there are 5 other such banks that are operational in India. Aditya Birla Payments Bank, Paytm Payments Bank, Jio Payments Bank, India Post Payments Bank, etc., have forayed into the segment.
A Big Relief To SBI Saving Account Holders
SBI reduced the penalty charges for non-maintenance of minimum balance by 75%. This came into effect from April 1, 2018. This decision benefited nearly 25 crores saving account holder of SBI.
10% Tax On Sale Of Shares And Mutual Funds
Income earned on shares and mutual funds are subjected to 10% tax if held for more than 1 year. An individual needs to pay 10% tax if he/she earns an income of more than 1 lakh.
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