Fixed Deposit Interest Rates: In such a situation, there are many small finance banks in the country where customers are getting up to 9.50 percent interest rate on fixed deposit schemes. The customers of these banks also get an insurance cover of Rs 5 lakh through DICGC on deposits.

Unity Small Finance Bank is offering its customers an interest rate of 4.50% to 9% on FDs ranging from 7 days to 10 years. On the other hand, senior citizens are getting interest rates ranging from 4.50 per cent to 9.50 per cent.

Suryoday Small Finance Bank is offering interest rates ranging from 4.00 percent to 8.51 percent on FDs ranging from 7 days to 10 years to general customers. At the same time, the bank is offering interest ranging from 4.5 percent to 8.76 percent to senior citizens in this tenure.

Utkarsh Small Finance Bank is offering 4 per cent to 8.25 per cent interest rate for fixed deposits ranging from 7 days to 10 years to general customers. At the same time, interest rates ranging from 4 percent to 9 percent are being offered to senior citizens.

Jan Small Finance Bank is offering 3.75 per cent to 8.15 per cent interest rate to customers on FDs ranging from 7 days to 10 years, while Senior Citizen Bank is offering customers interest rates ranging from 3.75 per cent to 8.75 per cent.

Fincare Small Finance Bank is offering interest rates ranging from 3% to 8.11% to its general citizens. At the same time, the bank is offering interest rates ranging from 3 percent to 8.11 percent to senior citizens.

Ujjivan Small Finance Bank is offering 3.75 percent to 8.25 percent interest rate on FDs ranging from 7 days to 10 years to general citizens and senior citizens.

ESAF Small Finance Bank is offering interest rates ranging from 4% to 8.50% to its general customers. At the same time, senior citizens are being offered interest rates ranging from 4.50 percent to 9 percent on FDs ranging from 7 days to 10 years.

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Meanwhile, the Union Finance Ministry has announced that this year’s budget will be presented in paperless form. This time also the same process will be followed which was started during the Kovid-19 pandemic. During that time, the central government had announced to adopt the paperless form of the budget.

The Finance Ministry has given information about this by tweeting. He told that like the last two Union Budgets, the Union Budget 2023-24 will also be presented in paperless form. The Union Budget 2023-24 will be presented on 1 February 2023. Apart from this, after 2 years again before the budget, Halwa Ceremony will be celebrated today i.e. on Thursday. So let’s know what changes the government can make in the budget.

What can be the changes in the budget 2023?

custom duty may increase

In media reports, a government official has been quoted as saying that the government is brainstorming a list of 35 items for a possible custom duty hike. There is hope for a change in this. The list includes things like private jets, helicopters, high-end electronic items, plastic items, jewellery, high gloss paper and vitamins. According to media reports, the move is aimed at reducing imports and promoting local manufacturing of some of these products.

At the same time, the investors of the stock market are expecting a balanced budget this time. He believes that in the general budget, the government will emphasize on job creation, increasing spending on infrastructure, overcoming the deficit and improving the economy.

Announcement can be made on online tax

According to media reports, the government is working on further improving the tax system available on online gaming, so that the government’s income can be increased. Small cases currently escape the tax system on online gaming. The government can also bring them under the tax net.

As per the current rules of online gaming, winnings of Rs 10,000 or more are taxed. People have to pay 30 percent tax on this amount. Which means if you have won Rs 9,999, then you do not have to pay any tax. If you have won more than Rs 10,000 in different games, but your winnings per match are Rs 9,999 or less, then you do not have to pay any tax.

NBFC sector hopes for tax relief

According to Mahesh Shukla, Founder and CEO of PayMe, the lending or financing industry has seen a significant improvement in recent years with financial technology or fin-tech players and non-banking financial companies (NBFCs) on the rise. There has been a rapid increase in lending or disbursement of loans as compared to traditional banks. The NBFC sector has a lot of expectations from the Finance Minister during the Union Budget 2023. The biggest expectation of fin-tech players is the liberalization of the tax regime.

Startups hope for tax relief

Not levying GST till annual turnover of Rs 10 crore will help small and medium enterprises (SMEs) to create a stronger economy and help create more jobs. The government is also expected to extend support for better partnership with banks to strengthen existing models of financing. The Reserve Bank of India (RBI) may further improve regulations to govern the fin-tech sector, which may bring in more transparency and promote digitization of lending processes across the country, including in rural areas.

Expected change in tax slab

In the tax slab, 25 percent tax is being demanded on income of more than 20 lakhs. Similarly, there is a demand to increase the tax to 20 percent on the income of 10 to 20 lakhs. In the current tax slab, up to Rs 2.5 lakh is not taxed. From 2.5 to 5 lakhs 5% tax, from 5 to 7.5 lakhs 20% tax. Similarly, 20 percent tax is levied from 7.5 lakh to 10 lakh. In which change has been demanded.

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This time many Gazetted holidays are falling on Sundays. In such a situation, if you are a bank customer, then you must know about the holidays of the year 2023.

Some of the national holidays during the year 2023 are Republic Day on 26 January and Independence Day on 15 August and 2 October (Mahatma Gandhi Jayanti).Banks in most of the states will remain closed these days. Banks will remain closed on festivals like Diwali, Ganesh Chaturthi, Christmas, Eid, Guru Nanak Jayanti, Good Friday. Although festivals like Diwali and Ganesh Chaturthi are celebrated in many states, the date varies from state to state.

Let us tell you that the holidays have been classified into three groups by the central government. The first covered by the Act, the second real-time gross settlement holidays and the third bank account closure holidays. The second and fourth Saturdays of every month are holidays in India, so banks are closed. If there are five Saturdays in a month, the bank will open on the fifth Saturday of that month.

January 01 Sunday New Year’s Day

12 January Thursday Swami Vivekananda Jayanti (West Bengal, Uttar Pradesh)
15 January Sunday Pongal
16 January Monday Thiruvalluvar Day / Mattu Pongal
Banks will remain closed in West Bengal on account of Netaji’s birthday on January 23.
26 January Thursday Republic Day
March 8 Doljatra (West Bengal)
Apr 07 Friday Good Friday
14 April Friday Tamil New Year
14 April Friday Dr. B.R. Ambedkar Jayanti
22 April Saturday Ramadan
01 May Monday May Day
05 May Friday Mercury Purnima
09 May Tuesday Rabindranath Jayanti (West Bengal)
29 June Thursday Bakrid (Id-ul-Azha)
15 August Tuesday Independence Day
August 16 Wednesday Legal Transfer Day
19 September Tuesday Vinayaga Chaturthi
28 September Thursday Milad-un-Nabi (Birthday of Prophet Muhammad)
02 October Monday Gandhi Jayanti
24 October Tuesday Vijayadashami
12 November Sunday Diwali
December 25 Monday Christmas

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