The document discusses several announcements that will have positive impacts for the banking and financial services sectors in India. It notes that raising the savings bank interest tax deductible amount to Rs. 10,000 will improve bank deposits. Increasing the limit for tax-free bond issuance to Rs. 60,000 crore will provide more cost-effective funding for organizations like NHAI, IRFC, and NHB. A new equity savings scheme offering a 50% income tax deduction is also introduced to deepen capital markets and boost retail participation in equities.

2. 2
Announcement
Impact
Comment
This is likely to improve the savings bank deposits for
the banks
Positive
Positive for the overall banking sector
Saving Bank interest deductible up to Rs10,000

3. 3
Announcement
Impact
Comment
Financial Institutions to benefit from cost effective
funding avenues
Positive
Positive for financial institutions such as NHAI,
IRFC, IIFCL, HUDCO, NHB and SIDBI.
Rise in overall limit of issuance of tax free bonds from
Rs. 30000 crore last year to Rs. 60000 crore

4. 4
Announcement
Impact
Comment
This will increase the retail participation in equity
market and improve the depth of the domestic capital
market
Positive
Positive for the financial services sector.
Introduction of Rajiv Gandhi Equity Savings Scheme
for a 50% income tax deduction.