I-T lens on current account deposits over Rs 12.5 lakh. All the news and more post demonetisation.
In related findings for India, the FATF in a report brought out last month, chronicled the use of banking channels to fund the activities of the banned terror group Hizb-ul-Mujahideen.
If you are a compulsive credit card user and are at a loss about how to regulate your credit card spend, here is help at hand!
The problem, say experts, is not so much the use of plastic as the lack of effort to recycle and reuse it.
The Supreme Court on Friday refused to tinker with the move to do away with the use of now-defunct high-value currency notes for public utilities, in government hospitals and for rail tickets.
Softening the demonetisation blow, the Budget for 2017-18 on Wednesday halved the tax to 5 per cent on incomes up to Rs 500,000 but proposed a new surcharge of 10 per cent on incomes between Rs 50 lakh and Rs 1 crore and raised duties on cigarettes and pan masala while stepping up allocations for infrastructure, rural, agriculture and social sectors.
'There has been a marked increase in four types of cases.' 'One is fraud related to online deliveries, online shopping and online groceries and liquor.' 'Second fake news, third hate speech and fourth sextortion.'
Non-resident individuals (NRIs) have also been allowed to apply for the niche banking licence, provided they plan to return to India.
For financial institutions, it will be an opportunity to provide better lending options. For instance, customers who pay their overdrafts on time will get access to more credit and probably at a cheaper rate.
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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.
Money saved is money earned, and cutting down your expenses could well be the single-most important step towards an organised financial life. Naval Goel shows you how to keep your finances organised.
There was hope in some quarters that the interim Budget would boost sentiment and lay the groundwork for kick-starting the investment cycle, while staying on a path of fiscal consolidation.
Watal panel had suggested an independent payments regulator be set up.
'Modi followed a prime minister whose second term was marked by such tragic passivity that Indians, it would seem, are willing to go to great pains to help this one realise his ambitions for them.'
In the next few days, use credit/debit cards wherever possible or download your bank's mobile banking app or a mobile wallet.
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The year 2014 was one of the most challenging years for India. For two consecutive years our GDP growth was sub 5 per cent. Employment generation had declined, the revenue buoyancy was low and the country had become investment starved.
There were heightened expectations from Budget 2017 after the impact of note ban on different sections but most remain unfulfilled.
The idea was that despite some defaults the high rates would assure good profits.
Delays in returning money for disputed transactions have also come under RBI's scanner.
The success of the government will depend substantially on the quality of its team of key ministers, officials and advisors
Only three percent of Indians pay income tax; our tax-GDP ratio is among the lowest in the world. This must change. Our elites must realise that India's poverty has damaging consequences for them, and that they can help decrease it. The food security bill, with all its limitations, will hopefully contribute to generating such awareness, says Praful Bidwai.
The Supreme Court on Wednesday said that the money likely to be arranged by Sahara Group from overseas to raise Rs 10,000 crore (Rs 100 billion) for the release of its jailed chief Subrato Roy would come into the country only after necessary clearances by RBI.
"I invite each one of you to become a partner in India's growth story. And once again assure you of our wholehearted support."
India is threatening to block the World Trade Organization (WTO)'s trade facilitation agreement (TFA) reached at Bali last year unless its agricultural policies are permanently excluded from multilateral scrutiny.
The searches at the Tamil television channel were conducted over alleged tax evasion.
Manish Sabharwal tackles 5 criticisms of demonetisation.
A platform that helps retailers reduce failed transactions while keeping the cost down, Innoviti is all set for India's digital payments revolution.
The agency on Monday questioned three general managers of the Punjab National Bank who have handled the -International Banking Division and Treasury department of the bank, officials said without revealing their identity.
The Budget decides to take the lead in revving up infrastructure.
Finance minister attempts a clean-up job, keeps projected expenditure growth low.
Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
Here's the full text of Prime Minister Narendra Modi's address to the nation where he announced the demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight on November 8-9.
Aadhaar now has legal backing but it still faces challenges of privacy and data sharing
'The Modi government is about privatising profits and nationalising losses.'
'There was the indisputable fact that Savarkar knew Godse, Apte and Karkare well, he had corresponded with them closely, and funded their extremely provocative newspaper, and they looked up to him as their icon.'
'There is no change in the overall story of economic recovery.'
A K Bhattacharya digs into the yet-to-be-public report on ways to curb black money and finds out that Modi's next moves could include action on dabba trading, hawala, and education.
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.
The fiscal deficit of the Centre remains a worry, running at over 6.5 per cent of GDP in April-September 2014, mainly because of revenue shortfalls from exaggerated projections in the government's July Budget and despite the relief on subsidies from lower oil prices.
Did you know that you are sacrificing a part of your salary in the name of ESOP?
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