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www.gradeup.co 1 | P a g e www.gradeup.co Monthly Digest May-2019 Dear readers, This Monthly GK Digest is a complete docket of important news and events that occurred in a month of May 2019. This file is important for, Bank and all exams. Banking & Financial Awareness 1. Income tax department has signed an agreement with May 2019. The interest rates on large SBI savings account Goods and Services Tax Network (GSTN) to facilitate deposits and interest rate on some short-term loans will the exchange of data to nab tax evaders and reduce black automatically change as and when RBI changes its repo money generation. rate.This will help in better transmission of RBI's policy Note: The move will allow the I-T department to verify rates into the banking system. the information filed by businesses in income tax returns, 5. LIC Housing Finance (LIC HFL) has launched ‘Udyam’, a compared to the annual GST returns. Both sides will skilling centre in Bengaluru to empower youths of the decide on the modalities for “automatic”, “spontaneous” country. and “request based” exchange of data.The I-T department Note: It has been launched in association with Lok will share key financial information, including the status Bharti Education Society, the implementing partner. of I-T return filings, turnover of the business, gross total The Centres of Excellence will provide training to income, and turnover ratio among others with GSTN. marginalised youth in the BFSI, retail, and IT/ ITES 2. India Ratings & Research (A Fitch Group Company) has sectors.
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