HENCY R SHAH AND ASSOCIATES

G20, IMF, FSB to work on policy formulation of crypto assets The Indian Administration has proposed a joint specialized paper by the International Monetary Fund (IMF) and the Financial Stability Board (FSB) to "integrate the macroeconomic and administrative points of view of crypto-resources". These associations are supposed to introduce their joint paper during the fourth G20 Money Clergymen and National Bank Lead representatives Meet, planned next October. This would assist in the detailing of a planned and far reaching strategy with drawing closer to crypto resources, when numerous nations including India didn't have an administrative system for crypto resources. A few conversations on the issue are normal over the span of G20 gatherings this year, which will help "construct informed banter inside the G20 gatherings and lead to the detailing of composed and extensive strategy approach," as per a Press Data Department discharge. The IMF-JSB paper is "expe

Is Ethanol blending the next game changer?  India's E20 India launched a pilot for E20, or petrol blended with 20% ethanol at the ‘India Energy Week’ in Bengaluru, bringing forward by two years the launch of a cleaner-burning version of petrol. What is Ethanol Blending? Ethyl alcohol or Ethanol (C2H5OH) is a biofuel that is naturally made by fermenting sugar. While it is mostly derived by extracting sugar from sugarcane, other organic matter like foodgrains can also be used for its production. As part of its carbon reduction commitments, India has launched the Ethanol Blended Petrol (EBP) programme to mix this biofuel with petrol to reduce the consumption of fossil fuel. Earlier, the government announced the achievement of E10 target, that is, the petrol used in the country has 10% ethanol in it. Then PM launched the pilot of E20 across at least 15 cities. The same is expected to be rolled out across the country in a phased manner in the coming months and years. Why E20

Unearth the Power of Lithium in J&K  Lithium stores have been found out for the first time ever in India. The 5.9 million tons of Lithium derived assets have been found in the Salal-Haimana area of Reasi region of Jammu and Kashmir, as per the Geological Study of India. Lithium, a non-ferrous metal, is one of the vital parts in EV batteries. India has of late been hoping to reinforce its inventory of key minerals, including lithium, that will be basic for advancing its electric vehicle plans, Reuters revealed. With that in mind, the revelation of lithium holds in Jammu and Kashmir is a critical one. For what reason is the revelation of lithium in India no joking matter? Lithium is one of the vital parts in electric vehicle (EV) batteries. As the world changes from gas and diesel to electric vehicles, the interest for lithium is going up quickly as well. Lithium is utilized in EVs as well as in batteries for devices like workstations and cell phones. It has likewise tracked down app

  ChatGPT hits 100 million users, makes history as fastest - growing platform   OpenAI's ChatGPT is popular, we all know that. But AI has even broken world records in popularity. ChatGPT has reportedly reached unprecedented levels of success just two months after its launch. A recent study by UBS claims that the chatbot has gained 100 million monthly active users, making it the fastest-growing consumer application in history. ChatGPT is only a few months old and already causing waves in the business world. The Microsoft-backed chatbot's ability to generate articles, essays, scripts, and poetry has made it a hit among users, who can access the application for free. To further sustain its growth and offer a more stable and faster service, OpenAI recently introduced a premium subscription.   What is ChatGPT? ChatGPT is an easy-to-use artificial intelligence tool that answers questions posed by users with relevant, natural-sounding answers and topics. The AI chatbot r

BUDGET 2023-2024 Taxation Policy DIRECT TAX Personal Tax Old Tax Regime: There are no changes proposed in tax rates including surcharge and cess, income tax exemption limits and income slabs. New Tax Regime: Basic exemption limit hiked from ₹ 2,50,000 to ₹ 3,00,000. Standard Deduction of ₹ 50,000 and Family Pension of ₹ 15,000 to be allowed as deduction to salaried individuals. Deduction of amount paid or deposited in  the Agniveer Corpus Fund. The highest surcharge capped at 25 percent for income above ₹ 2 Crores. Taxable income for rebate is proposed to be increased to ₹ 7 Lacs from existing ₹ 5 Lacs. Option to exercise before filing of Return of Income for the Old Tax Regime: Once in case of person have Business or Professional income.  Year on Year basis for Others. New Proposed Slab Rate Capital Gain Deduction from capital gains arising on sale of residential house or any other capital assets by further investment into new residential house shall be capped to ₹ 10 crores. It is pr

The evolution of digital banking: What traditional banks must offer to remain competitive 1Financial services continue to experience a massive upheaval as digital transformation is rolled out across the sector at a dramatic rate. By 2030, the everyday banking experience could be entirely virtual with more than two billion people having digital bank accounts on digital platforms, according to the Bill and Melinda Gates Foundation. But in most cases, that level of digital transformation remains a work in progress while customers continuously adjust to a dazzling array of new digital technologies which are being accelerated through constant innovation, creating new behaviours and increasing their expectations. For global banks, this creates a series of complex challenges and opportunities as they calibrate and re-calibrate their digital offering in various regions of the world, where the pace of digital transformation moves at distinctly different speeds. Meanwhile the branch networks of