Finance minister announcement regarding bank accounts and economic package.

Just now, two big announcement coming in regarding bank account from finance minister of India Nirmala Sitharam that no minimum balance will be required in bank
accounts this means if a person wants to withdraw all money from their bank accounts they can do it and unlike before their bank account will not be locked.

The second announcement which she made is that while withdrawing money no tax will be paid. And this rule will be applicable for three months. Addition to this economic package will be announced soon. The date for filing of income tax return for FY19 has been extended till 30th of June. Also interest rate for late payment has been cut from 12% to 9%.

This decision was taken after keeping in mind about people income that has been affected due to COVID19.

Recently news came in that sensex and nifty has fallen severely as a result of this value of rupee in comparison to dollar has fallen down like never before.