Then, copy that formula down for the rest of your stocks. But, as I said, dividends can make a huge contribution to the returns received for a particular stock. Also, you can insert charts and diagrams to understand the distribution of your investment portfolio, and what makes up your overall returns. If you have data on one sheet in Excel that you would like to copy to a different sheet, you can select, copy, and paste the data into a new location. A good place to start would be the Nasdaq Dividend History page. You should keep in mind that certain categories of bonds offer high returns similar to stocks, but these bonds, known as high-yield or junk bonds, also carry higher risk.
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As per undisclosed sources, the proposal was put up by a committee of officials consisting of Government officials and Reserve Bank of India. They set up a panel, which has recently given its report. The panel has advised the Indian government to launch its own blockchain based cryptocurrency. While recommending the new cryptocurrency — Lakshmi Coin is fine, India may actually take at least five to ten years before it has its own cryptocurrency given its cumbersome bureaucracy. If India does decide to accept the panel recommendations, Laxmi, the new cryptocurrency will fall under the purview of Reserve Bank of India.
Also, RBI will have to amend the Currency Act to provide for enabling provision for the new cryptocurrency. Reserve Bank of India has been a vocal critic of Bitcoin and other cryptocurrencies. Presently, Indian regulations and provisions do not provide for any type of control over such visual currencies with the Finance Ministry declaring them to be non-legal tender in the Budget of The main reason for doing so could be to curb the tax evasion and money laundering practices that can be easily carried out with cryptocurrencies.
The RBI has time and again warned about the financial and legal risks involved with the use of these tenders. It issued notices three times in December , February and December The latest notice comes on April 5th, with RBI ordering Indian banks to terminate all business relationship with cryptocurrency exchanges. The pace at which transactions are growing, if the Indian economy does adopt a visual currency, transfer would be much faster and easier. Now, to deal with problems related to cryptocurrencies.
Bitcoin has come under global scrutiny as it is regarded unsafe. There are no dispute resolution methods and the transactions cannot be traced to any person. In order to secure such transactions, ledger-like blockchain technology is required which records transactions. RBI will have to develop its own blockchain so as to protect investor interest and prevent thefts. The law on cryptocurrency will require disclosure of the source of income along with classification of cryptocurrency — whether it is an asset or a security.
If it is a security then Securities and Exchange Board of India will have to be involved for regulating the limit on transactions, listing requirements, procedures to be followed for transfer, penalties for fraud and misrepresentations, disclosure in financial statements, procedure in case of theft, etc. If it as an asset then investment limitations on the same will be required, whether banking companies can fund them or not on behalf of their clients.
The Banking Regulation Act, controls the business of the banks. Under section 5 b Banking means acceptance of deposits of money from public for the purpose of lending or investing with the option of repayment on demand. Banks also perform agency functions for their customers by paying on behalf of them. Therefore, acceptance of deposits in visual currency will be a primary function thereafter.
Presently, banks allow electronic transfer of money, but with the possibility of India having its own legal visual currency the requirement for scrutiny will grow tenfold as frauds and money laundering opportunities will also grow. As far as cybercrime is concerned, the current provisions of sections 43 and 66 of the Information Technology Act, deal with theft of any data from any computer system providing for punishment of the same — If any person, dishonestly or fraudulently, does any act referred to in section 43, he shall be punishable with imprisonment for a term which may extend to three years or with fine which may extend to five lakh rupees or with both.
What the provisions lack are exclusive terms to deal with theft of money in digital form. In a case where India introduces its own cryptocurrency, the legislation will have to be amended to include scenarios where money is laundered through cyber technology. Cryptocurrencies will be used to transfer large amount of funds, therefore penalty as per the amount involved in the transaction will have to be decided upon.
The Executive will have to come up with a proper procedure for complaints arising out of theft of money, procedure for dispute resolution mechanism, etc. Suggestively, to ensure that there is easy introduction of the system in the country, the RBI can set a limit on banks having a particular amount of turnover that will be allowed to perform transactions through cryptocurrencies. All such transactions shall require prior RBI approval with proper disclosure and authenticity.
Additionally, banks can have mandatory IT representatives on the board to help ensure data protection policy of the Bank is up to the satisfaction of the RBI. For this purpose, section 10A 2 a of the Banking Regulation Act, will be required to be amended as it does not explicitly provide for appointment of an IT expert to the Board.