Changes in I-T rules kick in today; to help govt track taxpayers' income, reports Dilasha Seth.
The Finance Ministry is considering a proposal to set up a National Asset Management Company that may act as a nodal agency for taking over bad loans of banks and help revive sick units.
In 2009, FinMin proposed to move regulators' reserves into public account. These accounts were finally opened in 2013-14. However, no funds have been deposited in it so far.
Regional States will be worried that the US's nascent engagement with the Taliban behind the fig leaf of humanitarian aid enables the return of US intelligence personnel to Afghanistan, observes Ambassador M K Bhadrakumar.
The niche banks - small finance and payments banks -have been set up to further the regulator's objective of deepening financial inclusion.
Janmejaya Sinha lays down Urjit Patel's agenda - cleaning up bank balance sheets, evaluating robustness of CPI and pushing for digitisation in financial services.
After more than two decades and three attempts, the government has finally sold its flagship national carrier Air India, and it is deja vu for Maharaja as it returned home to its founding father the Tata group. Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932 and named it Tata Airlines. In 1946, the aviation division of Tata Sons was listed as Air India, and in 1948, the Air India International was launched with flights to Europe. The international service was among the first public-private partnerships in India, with the government holding 49 per cent, the Tatas keeping 25 per cent and the public owning the rest. In 1953, Air India was nationalised and for the next over four decades it remained the prized possession for India controlling the majority of the domestic airspace.
As per the comprehensive format devised by the government, the selected candidates, besides being asked to provide information about themselves, their family members, including in-laws, have to provide information about the mobile numbers used during the last five years, the registration number of vehicles owned or used, email and social media or web-based portal accounts, in addition to bank and post office account numbers among others.
Bankruptcy proceedings are going at a slower pace than what the bankers had envisaged and many cases have gone beyond the 270-day timeline set under the IBC mainly because of litigation.
Companies today are taking a very fashionable way to reduce their workforce. Instead of the outright firing of employees, an alternative approach that some companies are using is the passive-aggressive method which is both deliberate and accidental, points out corporate lawyer Ishanee Sharma.
It may not be an exaggeration to say that in the next three years, in India itself a million jobs or more might be at risk due to automation. How we leverage its benefits will determine our fate in the digital era.
A part of Rs 6.5 lakh cr corpus may be used to set up Workers' Bank.
The NRA will have representatives of IBPS, SSC and Indian Railways.
'Put the assets of PMC Bank and the personal assets of the HDIL promoters and head of PMC Bank in an escrow account and ring-fence it from the ad hoc action of the revenue departments and creditors,' recommends Debashis Basu.
Senior Congress leader Shashi Tharoor on Tuesday attacked the Centre over the glitches in the new income tax portal, alleging that even after spending Rs 4,200 crore on it, the government had "failed" to make it user-friendly and created a "mess" instead.
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
India will welcome two trade missions in 2015 focused on meeting its infrastructure needs with US technology and services.
Experts believe that the government needs more innovative ways to secure the cyber space in the country and a cess is more like a punishment which would not help in the long run.
Bankers pay a small price for their misdeeds, no matter how large the cost to their banks or to the economy at large, says TT Ram Mohan.
However, the US praises India for its significant counter-terrorism actions.
Singapore continued to be the largest source of FDI in India followed by Mauritius, the US, the Netherlands and Japan.
In Chanda's defence, one can always say, why would the Videocon Group take care of her husband as a quid pro quo to get a loan? After all, the group has taken money from the entire banking industry and ICICI Bank's share in the pie is not even 10 per cent. So, if it had a quid pro quo with Chanda to get the money, it must have had similar arrangements with other banks, too. If this is not the case, one must accept that it had got money from all banks, including ICICI, without any under-the-table conditions, points out Tamal Bandyopadhyay.
With Prime Minister Narendra Modi emphasising the need to kick-start investment in the country, the project monitoring group (PMG) under the Cabinet Secretariat has asked various government departments to start monitoring projects for which clearances have been facilitated through this mechanism.
Royal Bank of Scotland and JP Morgan were also fined over attempts to rig currency benchmarks in a year-long probe that has put the largely unregulated $5 trillion-a-day market on a tighter leash, with dozens of dealers suspended or fired.
A court in Mumbai on Tuesday remanded two police officers in the custody of the Maharashtra criminal investigation department in a case of alleged extortion in which former Mumbai police commissioner Param Bir Singh is one of the accused.
The only thing that might justify a response is the desperate state of Pakistan's economy and how its people are suffering. But it's better to be heartless for now, argues Shekhar Gupta.
The govt plans to seek Centre's help for a re-assessment by the World Bank.
The retirement age of doctors in some departments is 60 years and in some others, it is 62.
Banks and friendly neighbourhood jewellers can serve as good channels to provide liquidity for gold deposits with built-in incentives for them, suggests Harsh Roongta.
The government on October 12 announced the LTC cash voucher scheme under which central government employees can purchase any goods or services with GST rate of 12 per cent or above to avail the benefit.
Salt-to-software conglomerate Tata group was among "multiple" entities who on Monday put in preliminary bids for buying the government's stake in loss-making carrier Air India.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
Directors that are shareholders will also face more problems.
The Department of Posts was one of the 11 entities to get the in-principle nod from the Reserve Bank of India in 2015 for setting up a payments bank.
In accordance with ''Level-1'' alert under the graded response action plan (GRAP), private offices will function with physical attendance of 50 per cent of the staff, barring essential categories.
The Reserve Bank of India (RBI) on Thursday paved the way for niche banking by issuing draft guidelines for setting up payment banks and small banks.
Yellen, 74, was confirmed by the Senate in a broad bipartisan support of 84-15 votes on Monday. Both the Democratic and the Republican parties have 50 members in the 100-seat Senate.
Bharti recorded $5 billion liability for past-due AGR fees, but is still completing its self-assessment to determine the final amount.
Initial information from a reliable police source said that the two women killed in the blast were Chinese nationals and may have been the target of the blast.
Prices of perishable items could spike in the near term.
