The second wave of Corona has caused terrible havoc. All efforts are being made to avoid this.
In this chain, the time of opening and closing of the bank has been changed to protect the bank personnel from infection. By May 15, the banks will open only four hours. Along with this, there is a readiness to give tax compliance to the companies and to extend the time limit of the major schemes given under the relief package last year. On the other hand, the interest rate on GPF has also been announced.
1. Banks will open only four hours
In view of the increasing cases of corona virus infection, the state level bankers committee has decided that by May 15, the working hours in banks will be reduced by two hours from 10 am to 2 pm. With this, only banking services such as deposits, cash withdrawals, check clearing and government transactions will be provided at the bank branches in times of this crisis. Only 50% of the employees in the bank are allowed to come. If the district administration issues a new order in view of the condition of corona infection, then its order will be considered at the top.
2. Banks will not give dividend even this year
In view of the second wave of Corona, this year also banks will not pay dividends to their investors. Actually, RBI has stopped giving dividends from banks. This decision has been taken in view of the weak financial condition of the banks. This will impact investors investing in millions of bank shares. They will not get dividend this year like last year.
3. Interest on GPF will be given at the rate of 7.1%
The government has also kept the interest on General Provident Fund (GPF), Gratuity Funds and Special Deposit Scheme unchanged this year. According to the government-issued notification, customers will get interest at the rate of 7.1% in the April-June 2021 quarter. The interest rate on GPF is reviewed every 3 months.
4. Difficult to advise fund house online
The Corona epidemic has promoted work from home and online culture. However, a lot of work is being done online easily, so there is also a problem in some places. Mutual fund houses offering online advice are finding it difficult to provide the right advice to their investors. They have given this information to SEBI.
5. Relief in tax compliance possible for companies
The Corona crisis has severely affected companies from the smallest. In view of this, the government can once again give relief to the companies within the tax compliance deadline. Along with this, it can also extend the schemes given in the relief package last year. It has started with the Emergency Credit Line Guarantee Scheme. The deadline for availing benefits under this scheme has been extended to 30 June.
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