As of now, foreign employees applying for withdrawal of provident funds are required to open bank accounts in India.
Mohandas Pai took part in an hour-long chat on rediff.com
The bank, which has suffered reverses following a massive spike in dud assets and also the dismissal of its chief executive Chanda Kochhar over governance issues, however, hinted that the worse is behind.
Take a moment to consider ways to improve your finances.
It is not the job of regulators to ensure that users make profits. It is not the job of regulators to prevent people from making losses. It is not the job of regulators to prevent people from doing stupid things, argues Ajay Shah.
It should cover mandatory expenses, insurance premiums and loan installments for six months to a year.
Finance Minister Arun Jaitley announced several reforms.
The abolition of wealth tax is again a welcome step.
FM needs to convince Indians to invest more in stocks.
Thanks to the recapitalisation by the government and measures taken by the central bank, collapse of any large housing finance company won't pose as big a risk as it had six months ago.
The levy has also been removed on low cost houses up to a carpet area of 60 square metres in a housing project under any housing scheme of the state government.
Recently, the government announced yet another ambitious scheme aimed at providing health insurance to 50 crore individuals.
From the date you put in your papers, the employer will promptly freeze your salary payouts and you will get everything along with the full and final settlement.
'Give cash assistance of Rs 75 per person per day and an android phone and you will see the economy reviving.'
As protectionism grows from the United States to Australia, Sanjay Kumar Singh draws up a comprehensive financial checklist for those shifting to India.
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The first phase would comprise universal access to banking facilities. Under this, basic bank accounts with zero balance, RuPay debit card and financial literacy, will have to be completed in the next one year, officials said.
It will take over large non-performing assets of banks and help in revive companies ridden with bad debts.
As many as 75 million households that do not have access to banking services will be covered and at least one bank account opened for each household, against the earlier proposal of two.
PS banks need to pull up their socks to improve cash flows.
The government, he said, has implemented 'bold reforms'.
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To get what it thinks are its dues, its brass have directed; construction, realty, renting of property, personnel supply, security & goods transport among those under lens
Tax-saving investments should not be made with the sole purpose of saving tax, but should also help an individual grow his wealth, suggests Archit Gupta, founder and CEO, ClearTax.
Prime Minister Narendra Modi announced the financial inclusion scheme in his first Independence Day speech last year.
In an online chat with readers a few hours after the Union Budget 2015-16 proposals were announced by Finance Minister Arun Jaitley, Sundeep Agarwal, Director, PwC India, answered related queries to help put the announcements into perspective.
Retirees have better options that offer liquidity, better returns and are more tax-efficient.
Govt must introduce automated investment scheme for poor.
Aditya Puri thinks the government is on track.
Syed Firdaus Ashraf/Rediff.com lists 11 Modi flagship schemes that may have been gamechangers in the Lok Sabha election.
Enjoying the backing of the regulator, Gill has identified the core problems, ring-fenced the banks from "influencers" and is in the process of building a new team. Now, he needs to play a Vikram Pandit for YES Bank, says Tamal Bandyopadhyay.
The Central Board of Direct Taxes is set to rationalise I-T rules.
To say capital gains from stocks are effortless shows little understanding of the treacherous investing terrain, says Debashis Basu.
Jaitley said a 10 per cent tax long on capital gains exceeding Rs 1 lakh made from the sale of shares has been introduced but those made till Janaury 31 would be grandfathered. A 10 per cent tax on distributed income by equity oriented mutual funds has also been proposed in the budget.
It is best to invest long-term surplus in stocks or equity mutual funds.
The forthcoming budget is an excellent opportunity for the Government to fulfill its promise of high economic growth.
Finance Minister Arun Jaitley presented the Union Budget.
Economy to grow by 7.2-7.5 per cent in second half of current fiscal, says FM.
The hype surrounding the Budget gives it undue importance.
Naveen Kukreja explains the finer points to keep in mind while planning for your retirement.
Budget might turn out to be neutral for the sector.
