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India writes to Switzerland seeking info on secret accounts

Last Updated: Sunday, June 29, 2014, 15:49

India has made a fresh request to Switzerland seeking bank details and names of Indians having unaccounted money in Swiss banks, as the government expands its efforts to combat the menace of black money.

AUM-to-GDP ratio 7%: PwC report

Last Updated: Sunday, June 29, 2014, 12:10

The mutual fund penetration in the country is very low compared to global and peer benchmarks.

Bank unions meet Jaitley, press for early wage revision

Last Updated: Friday, June 27, 2014, 18:51

The delegation informed that more than 10 rounds of discussions have taken place between bank management and UFBU so far on the issue but IBA is delaying the settlement.

AIBEA seeks hike in tax exemption on bank deposit interest to Rs 25K

Last Updated: Thursday, June 26, 2014, 20:35

Bank employees body AIBEA has demanded an increase in the exemption of tax on interest earned on bank deposits to Rs 25,000 from Rs 10,000 at present from the government in its maiden Budget next month.

Banks' asset quality better but systemic risks up: RBI

Last Updated: Thursday, June 26, 2014, 20:33

The Reserve Bank of India on Thursday said the overall asset quality of banks has improved in the recent past with a reduction in bad loans, although systemic risks have increased.

Bank deposits, credit rise nearly 14%

Last Updated: Wednesday, June 25, 2014, 20:50

Bank deposits grew at 13.91 percent year-on-year to Rs 79,00,894 crore as of June 13, similar to credit growth, according to RBI data.

India, Switzerland deny sharing 'black money' details

Last Updated: Monday, June 23, 2014, 18:56

Switzerland has not shared any information or given assurance on sharing details about Indian account holders in Swiss banks, where a major portion of India`s "black money" is suspected to be stashed, governments of both countries said Monday.

Black money: RBI directs banks, FIs to give information to SIT

Last Updated: Monday, June 23, 2014, 17:21

The Reserve Bank of India Monday directed all banks and financial institutions to provide information and documents sought by the Special Investigation Team (SIT) set up to unearth black money.

Black money: RBI directs banks to provide data required by SIT

Last Updated: Monday, June 23, 2014, 16:57

Joining the fight against tax evasion and black money that is menacing the economy of the country, the Reserve Bank of India on Monday directed all Indian banks and financial institutions to provide all information and documents sought by the Special Investigation Team on black money.

Swiss govt's decision to share list will help in further enquiry: SIT chairman

Last Updated: Sunday, June 22, 2014, 22:50

Chairman of the Special Investigation Team (SIT) Sunday appreciated Swiss government's decision to share the list of account holders with India saying that it will help in further enquiry which was on a hold up till now.

Share all info regarding Indian black money: CPI to govt

Last Updated: Sunday, June 22, 2014, 20:18

CPI on Sunday asked the government to share all information regarding Indian black money parked in foreign banks as Switzerland was readying a list of Indians suspected to have un-taxed money in Swiss banks.

Swiss govt prepares list of Indians with suspected black money

Last Updated: Sunday, June 22, 2014, 18:13

In a major boost to India's fight against black money, Switzerland has prepared a list of Indians suspected to have stashed un-taxed wealth in Swiss banks and the details are being shared with Indian government.