NAGENDRA BABU KAMAVARAPU

  Combating Financial Frauds via Voice Calls & SMS: RBI's New Guidelines With the rise in digital transactions, financial frauds through voice calls and SMS have become a growing concern. To address this, the Reserve Bank of India (RBI) has issued new guidelines to safeguard customers and ensure secure digital banking. Here's a quick breakdown of these measures: Key Steps to Prevent Fraud Mobile Number Revocation List (MNRL): Banks and financial institutions must use the MNRL, developed by the Department of Telecommunications (DoT), to monitor and update customer databases. This helps identify revoked mobile numbers and prevents their misuse in fraudulent activities. Standard Operating Procedures (SOPs): Institutions must create SOPs for verifying registered mobile numbers, monitoring accounts linked to revoked numbers, and preventing their use as money mules or in cyber frauds. Dedicated Number Series for Calls: Use  ‘1600xx’ series  for transactional calls. Use...

  RBI's New Guidelines for ARCs: Streamlining Borrower Settlements On January 20, 2025, the Reserve Bank of India (RBI) introduced revised guidelines for Asset Reconstruction Companies (ARCs) aimed at improving the settlement process for borrower dues. Here’s a quick overview of the key changes: Key Highlights 1. Board-Approved Policy ARCs must establish a clear, Board-approved policy for settling dues, covering eligibility criteria, permissible sacrifices, and methods for valuing securities. 2. Last Resort Settlement Settlements should only occur after exhausting all recovery options. The Net Present Value (NPV) of the settlement must not fall below the realizable value of securities. 3. Preferred Lump Sum Payments Borrowers are encouraged to make lump sum payments, with staggered payments requiring a solid business plan and cash flow projections. 4. Independent Advisory Committee (IAC) For dues over ₹1 crore, an IAC must review settlement proposals to ensure thorough evaluation b...

  Free Income Tax Calculators Online for Easy Tax Planning Filing income tax can be daunting, but free online tax calculators make it simple and efficient. These tools help estimate your tax liability, compare old and new regimes, and plan your finances effectively. Here’s a quick look at some of the best free income tax calculators available: Calculator Highlights Link IDFC FIRST Bank Calculator Compare old vs. new tax regimes for FY 2024-25. IDFC FIRST Bank Income Tax Department Official calculator for accurate tax estimates as per the Income Tax Act. Income Tax Dept ClearTax Calculator Simple tool for calculating taxes with deductions for FY 2024-25. ClearTax Groww Calculator Straightforward tax calculations based on income slabs. Groww HDFC Life Calculator Quick and accurate tax calculations with slab details for FY 2024-25. HDFC Life How to Use These Calculators Enter your total annual income. Add deductions (e.g., 80C, 80D). Select your preferred tax regime (old or new). View...