Month: September 2026

*******Rs 2.42 lakh FD investment and Rs 1.06 lakh cash deposits, no ITR filed, got income tax notice; senior citizen wins case in ITAT Jaipur after 9-year fight

Read more at:https://economictimes.indiatimes.com/wealth/tax/rs-2-42-lakh-fd-investment-and-rs-1-06-lakh-cash-deposits-no-itr-filed-got-income-tax-notice-senior-citizen-wins-case-in-itat-jaipur-after-9-year-fight/articleshow/133969153.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst The Income Tax Department sent a tax notice to Mrs Devi (age 83 years old) from Vidhyadhar Nagar, Jaipur as she made

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SBI DGM [Economist]–” FCNR[B] benefits outwieigh costs “–[1] Hedging cost $16.3 billion while investment income [ US Treasury ] will be $22.4 billion –net surplus being $6.1 billion [ which translates into -Rs.58372 crores at the current exchange rate [2] So it will not be fiscal drag [3] Liquidity dynamics –12 trillion of rupee liquidity offers much relief to banks to lend to the productive sectors and it eases  elevated CD ratio [3] Banks may need couple of quarters to use these surplus funds [4] RBI’s forward position will be taken care of [ $100 billion short dollar position with $40 billion maturing within an year –As these positions unwind, liquidity will automatically contract [5] September and October which  are — traditionally liquidity strained months –because of advance tax, credit growth–capex revival, government borrowing and import payments ahead of Diwali & festival induced purchases –will have absorbed much of this surplus–Article by Mr Bibekananda Panda — Courtesy BL

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