Union Finance Minister Nirmala Sitharaman presented her sixth Budget on February 1. This was an interim budget ahead of the general elections later this year. It was focused on youth and women empowerment, while maintaining fiscal consolidation and continuing capex.
The evolution of NBFC sector over the years in terms of size , complexity and inter connectivity has led to increase in risk factor as well. To align with the regulatory framework of NBFC's with changing risk dimensions, SBR framework has been introduced by RBI, guidelines of which were effective from 1st October 2022.
A non-banking institution which is a company and has the principal business of receiving deposits under any scheme or arrangement by any mode is also a non-banking financial company (Residuary non-banking company).
PPF is one of the best long term investment options with attractive rate of interest and returns on investment for the individuals who have low risk appetite. It can also be called as savings cum tax savings investment option to save taxes and earn guaranteed returns.
Due to lockdown, the government has relaxed a few rules on PPF and small saving schemes like 5 year National saving certificate, Kisan Vikas Patra, Sukanya Samridhi Yojana, etc.