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Demonetisation: Bank account violators will face 7 years jail, warns I-T department Demonetisation: Bank account violators will face 7 years jail, warns I-T department

Warning people against depositing their unaccounted old currency in someone else's bank account, the tax department has decided to slap charges under the newly enforced Benami Transactions Act against violators that carries a penalty, prosecution and rigorous jail term of a maximum seven years. 

Demonetisation: Liquidity to stay, interest rates may fall further Demonetisation: Liquidity to stay, interest rates may fall further

Additional liquidity that is coming into the banking system following demonetisation will not go away in a "hurry" and may pull down interest rates further, the country's largest lender SBI said.

Banks to allow withdrawal of Rs 2.5 lakh for weddings from next week Banks to allow withdrawal of Rs 2.5 lakh for weddings from next week

Banks may allow withdrawal of Rs 2.5 lakh by the families with upcoming weddings from next week only after receiving operational guidelines from the RBI, even though the Centre announced the relaxation earlier this week.

Demonetisation: SBI waves merchant discount rate on RuPay debit cards Demonetisation: SBI waves merchant discount rate on RuPay debit cards

State Bank of India (SBI) waived merchant discount rate (MDR) on the RuPay Debit Cards with immediate effect. 

Beware! You may get I-T notice for flaunting your wealth on social media Beware! You may get I-T notice for flaunting your wealth on social media

Income tax department may be keeping a close tab on you in case you take pride in flaunting your wealth on social media platforms.

Punjab National Bank slashes deposit rates by upto 0.25% Punjab National Bank slashes deposit rates by upto 0.25%

Flush with funds, Punjab National Bank (PNB) on Saturday trimmed interest rate on fixed deposits by up to 0.25 per cent in line with competition.

Demonetisation: I-T department issues notices to those depositing huge cash Demonetisation: I-T department issues notices to those depositing huge cash

Acting swiftly, the Income Tax department has issued hundreds of notices seeking "source" of funds from individuals and firms who have deposited huge amounts of cash in banks using the scrapped Rs 500 and Rs 1000 currency notes after November 8.

Demonetisation: Income Tax department sends notices to those depositing huge cash

Acting swiftly, the Income Tax department has issued hundreds of notices seeking "source" of funds from individuals and firms who have deposited huge amounts of cash in banks using the scrapped Rs 500 and Rs 1000 currency notes after November 8.

Govt allows one time exchange of old notes up to Rs 2,000 over bank counters; window open till December 30 Govt allows one time exchange of old notes up to Rs 2,000 over bank counters; window open till December 30

The noose is getting tighter on those who are trying all possible means available to convert black money into white. The Reserve Bank of India on Friday announced that it will limit exchange of old notes into new ones at bank counters only once till December 30. The norm comes into effect starting Friday, November 18.

Banks to exchange old Rs 500/1,000 notes only of their respective customers today; senior citizens exempted Banks to exchange old Rs 500/1,000 notes only of their respective customers today; senior citizens exempted

Even as millions across the country throng banks to exchange old notes following the demonetisation of high-end currency, banks will not exchange the decommissioned notes for non-bank customers on Saturday.

700 petrol pumps start dispensing cash against debit card swipe 700 petrol pumps start dispensing cash against debit card swipe

Nearly 700 petrol pumps across the country Friday started dispensing cash through debit card swipe in a bid to ease the cash crunch in the economy following the government's decision to withdraw 1,000 and 500 rupee notes.

Beware! Misuse of bank a/c for black money can invite prosecution Beware! Misuse of bank a/c for black money can invite prosecution

Government on Friday cautioned Jan Dhan account holders, housewives and artisans that they will be prosecuted under the I-T Act for allowing misuse of their bank accounts through deposit of black money in Rs 500/1,000 notes during the 50-day window till December 30.

Unsung heroes: Bank staff who work overtime to provide you with cash! Unsung heroes: Bank staff who work overtime to provide you with cash!

While millions are struggling to deposit or exchange the demonetised currency and withdraw money from banks, it is the staff of nationalised and private banks who are facing the brunt of the government move to spike the Rs 500 and Rs 1,000 notes.

Demonetisation: Government may put total ban on exchange of old notes soon Demonetisation: Government may put total ban on exchange of old notes soon

A decision regarding the same might be announced before November 24.

Soon, EPFO to hike minimum salary limit for maintaining PF account to Rs 25,000 per month Soon, EPFO to hike minimum salary limit for maintaining PF account to Rs 25,000 per month

The Employees Provident Fund Organisation (EPFO) is likely to hike the limit for compulsorily maintaining a PF account to Rs 25,000 from the existing Rs 15,000.

7th Pay Commission: Final touches given to Allowances of central govt employees; may soon see disbursal 7th Pay Commission: Final touches given to Allowances of central govt employees; may soon see disbursal

The Committee set up to review the Allowances sanctioned to central government employees under 7th Pay Commission is likely to have finalised Allowances for central government employees.