close
This ad will auto close in 10 seconds

New agency to probe anomalies in IT returns filed post demonetisation

There is a move to set up a new agency for probing anomalies in income tax returns filed by 18 lakh people after demonetisation, Union Minister Radha Mohan Singh said on Wednesday.

SEBI likely to allow mutual funds to trade in commodities soon

SEBI likely to allow mutual funds to trade in commodities soon

With an aim to deepen the nascent commodity market, SEBI is likely to give mutual funds the go-ahead to trade in commodity markets in a month, while the regulator is also in talks with the RBI to allow institutional investors like banks and FPIs to trade in the segment.

Debit card transactions: RBI to reimburse banks MDR charges effective January 1

Debit card transactions: RBI to reimburse banks MDR charges effective January 1

The Reserve Bank will start reimbursing MDR charges to banks for payments made since January 1 through debit cards by citizens, in line with the government's move to further digital solutions.

Banks need Rs 91,000 crore capital to sustain 8-9% growth: Ind-Ra

Banks need Rs 91,000 crore capital to sustain 8-9% growth: Ind-Ra

Indian banks will require Rs 91,000 crore in tier-1 capital till March 2019 to sustain a minimum annual growth rate of 8-9 percent, according to a report by India Ratings and Research (Ind-Ra).

There is scope for further cuts in lending rates: RBI Guv

There is scope for further cuts in lending rates: RBI Guv

RBI Governor Urjit Patel on Wednesday said there is further scope for banks to reduce lending rates as the Reserve Bank has already brought down its policy rates by 175 basis points since January 2015.

Demonetisation woes due to bank officers' role: Arvind Panagariya

Demonetisation woes due to bank officers' role: Arvind Panagariya

In implementing demonetisation what did not go as planned was that "a lot of bank officials really played it in the way that they should not have played it" and it was on a scale not anticipated, according to Arvind Panagariya, Vice Chairman of Niti Aayog.

No limits on cash withdrawals through ATMs, current a/cs from today

No limits on cash withdrawals through ATMs, current a/cs from today

In a big relief to people and small businesses, RBI has announced lifting of restrictions on daily withdrawal of money from ATMs and from current accounts from Wednesday but the weekly limit of Rs 24,000 on savings bank accounts will continue.

No limits on cash withdrawals through ATMs, current a/cs from tomorrow

No limits on cash withdrawals through ATMs, current a/cs from tomorrow

In a big relief to people and small businesses, RBI has announced lifting of restrictions on daily withdrawal of money from ATMs and from current accounts but the weekly limit of Rs 24,000 on savings bank accounts will continue.

Bank deposits up 0.64% in January 6 fortnight

Bank deposits up 0.64% in January 6 fortnight

According to the data released by the Reserve Bank of India, deposits in banks jumped by 0.64 percent in the fortnight to January 6 after falling in the previous 14 days.

Cash deposits above Rs 10 lakh in bank account to come under I-T lens

Cash deposits above Rs 10 lakh in bank account to come under I-T lens

The tax department has asked banks to report deposits in any account aggregating Rs 10 lakh in a year, as well as cash payments of Rs 1 lakh or more on credit card bills.

 

 

Finance Ministry likely to finalise capital infusion plan for PSBs; to exceed Rs 25,000 crore

Finance Ministry likely to finalise capital infusion plan for PSBs; to exceed Rs 25,000 crore

Based on the request of various lenders which have been impacted by demonetisation amid rising bad loans, the Finance Ministry is likely to finalise capital infusion plan for public sector banks (PSBs) this week.

After pilot services, Airtel to officially launch its Payments Bank Thursday

After pilot services, Airtel to officially launch its Payments Bank Thursday

For the same, Airtel has sent out a media invite which reads “For the launch of Airtel Payments Bank – India's first payments bank by Arun Jaitley”.

UCO Bank cuts lending rate by up to 0.8%

Public sector lender UCO Bank on Tuesday slashed its benchmark lending rate by up to 0.8 percent in line with market competition.

NPA pains to spill over into next fiscal, says Moody's

NPA pains to spill over into next fiscal, says Moody's

Weak asset quality will continue to plague credit profile of banks, with their profitability remaining under pressure till the next fiscal, says a report.

Petrol pumps to not accept credit/debit card payments across India from Monday

Petrol pumps to not accept credit/debit card payments across India from Monday

With banks deciding to imposed transaction (MDR) charges on them instead of consumers, petrol pumps across India will not accept credit and debit card payments for fuel sales from Monday.

Note ban: I-T asks banks report of deposits in savings accounts between April 1 to November 9, 2016

Note ban: I-T asks banks report of deposits in savings accounts between April 1 to November 9, 2016

Seeking to analyse the banking transactions in months before the demonetisation, the Income Tax Department has asked banks to report cash deposits in savings accounts between April 1 to November 9, 2016.

Bank of Baroda joins rate cut bandwagon, slashes lending rates by up to 0.75%

Bank of Baroda joins rate cut bandwagon, slashes lending rates by up to 0.75%

Joining the rate cut bandwagon, Bank of Baroda on Thursday lowered its lending rates by up to 0.75 percent -- which will lead to cheaper home and corporate loans.

 

Fake accounts post demonetisation: Court denies anticipatory bail

A special court has dismissed anticipatory bail pleas of three men, accused of opening saving accounts in Jain Cooperative Bank Ltd here by forging signature of introducer, saying several such cases have been reported post demonetisation.

Demonetisation: 32 violation cases lodged, over Rs 200 cr detected till date, says CBI

Demonetisation: 32 violation cases lodged, over Rs 200 cr detected till date, says CBI

Out of 32, three to four case are against Reserve Bank of India (RBI) officials, five against Post Office employees and the remaining cases are against those employed with different banks, said a CBI official. 

Banks begin levying MDR charges on debit card payments

Banks begin levying MDR charges on debit card payments

In what could be a blow for digital payments system, some banks in the country have started levying Merchant Discount Rates (MDR) charges on use of debit cards for payments.