According to the Axis Bank website, starting on August 12, 2023, you will be qualified for a cashback of 1.5% when using your credit card to pay for travel-related expenses on Flipkart. According to the bank, using the Merchant Category Code (MCC) 9399 to pay for government services would not earn you any cashback. Additionally, you won’t be qualified for cashback on fuel purchases, gift card purchases made on Flipkart and Myntra, EMI transactions, etc.
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SBI Amrit Kalash
The deadline for investing in SBI Amrit Kalash is August 15, 2023. According to the SBI website, the rate on this 400-day term deposit is 7.1% for ordinary consumers and 7.6% for senior persons. According to the SBI website, “the specific tenor scheme of “400 days” (Amrit Kalash) at 7.10% w.e.f. 12-April-2023.” Senior citizens are eligible for a 7.60% interest rate.” This SBI special FD scheme also allows for early withdrawal and loan against deposit.
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Penalties for belated income tax return
Taxpayers who did not file their income tax return (ITR) by July 31, 2023 would face penalties. Those who file their ITR after the due date would face a fee of up to Rs 5,000 beginning August 1, 2023. If you do not file your ITR by the deadline, you have until December 31, 2023 to file a delayed return.
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IDBI Amrit Mahotsav FD
IDBI Bank has launched a unique bucket of “Amrit Mahotsav FD for 375 days” with a maximum rate of 7.60% p.a. applicable till August 15, 2023. “Amrit Mahotsav FD for 444 days” has a callable option with a peak rate of 7.65% p.a. and a non-callable option with a peak rate of 7.75% p.a.
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Bank holidays August 2023
In August 2023, banks will be closed for 14 days, including the second and fourth Saturdays, Sundays, and other holidays. There are state-specific bank holidays, as well as national holidays when all banks are closed. All banks in India will be closed on August 15th in celebration of Independence Day.
