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Is govt mulling over raising protection on bank deposits beyond Rs 1 lakh?
Sat, Dec 09, 2017
Media reports have shed light on the likelihood of protection of bank deposits being raised with the upcoming FRDI bill.
Is your bank deposit safe? Know more about FRDI Bill & bail-in clause
Fri, Dec 08, 2017
FRDI Bill i.e. Financial Resolution and Deposit Insurance Bill 2017 aims to focus on finding a resolution in case of a rare event of a failure of any financial service provider like banks, insurance companies or a non-banking financial companies etc. At present the bill is pending with the standing committee and have not been enacted as a law.
From cheque clearance to cash deposits, banking services to hit as 10 lakh PSU bankers strike today
Tue, Aug 22, 2017
Employee unions under United Forum of Bank Unions (UFBU) has called for today's bankers strike.
10 days left to deposit under Pradhan Mantri Garib Kalyan Deposit Scheme; Follow these 3 steps
Thu, Apr 20, 2017
Launched on December 6, 2017, the PMGKDS was applicable to every declarant under the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana - the scheme closed on March 31.
Over 1 lakh SB accounts opened in TN: Airtel Payments Bank
Mon, Mar 13, 2017
"We are delighted to have taken formal banking services to these remote rural pockets of Tamil Nadu. We are fully committed to the vision of Digital India and financial inclusion," MD and CEO of Airtel Payments Bank, Shashi Arora said.
Demonetisation: Government may offer second chance to deposit old notes of Rs 500 & Rs 1,000
Thu, Jan 26, 2017
The Government of India may give a second chance to citizens of the country to deposit old currency notes of Rs 500 and Rs 1,000.
Demonetisation: Private entities to analyse data vis-a-vis Income Tax Return, Tax Deducted at Source
Thu, Jan 26, 2017
Post demonetisation, the Income Tax department has started the process of engaging private entities to match the data with I-T return or other information of assessees.
Indian banks' loans up 5.1% year-on-year in two weeks to January 6: RBI
Fri, Jan 20, 2017
Indian banks` loans rose 5.1% in the two weeks to January 6 from a year earlier, while deposits rose 14.7%, the Reserve Bank of India`s (RBI) weekly statistical supplement showed on Friday.
Banks will now tell Income Tax Department if you deposit more than Rs 10 lakh in a year
Thu, Jan 19, 2017
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.
FM Arun Jaitley set to launch Airtel's Payments Bank on January 12
Wed, Jan 11, 2017
Finance Minister Arun Jaitley is scheduled to launch Airtel's Payment Bank on Thursday, which has been running pilot services in four states. Airtel has sent out media invites "for the launch of Airtel Payments Bank India's first payments bank by Arun Jaitley" for January 12.
Demonetisation: 60 lakh depositors put Rs 7 lakh crore in banks since November 8
Fri, Dec 30, 2016
As many as 60 lakh individuals and firms have made large deposits totalling an astonishing Rs 7 lakh crore in old notes, top government officials said today while warning that every penny of tax will be extracted as the black money does not become white by merely putting it in banks.
Notes Ban: Govt likely to come up with ordinance before Cabinet today
Wed, Dec 28, 2016
In an attempt to put an end to the liability of the government and the Reserve Bank of India (RBI) on the demonetised high value notes, the government is likely to come up with an ordinance before the Union Cabinet on Wednesday, PTI reported on Tuesday.
Deposit in bank acounts of political parties exempt from tax, says Hasmukh Adhia
Sat, Dec 17, 2016
As it levies stiff penalties on unaccounted cash in banks, the government on Friday said political parties depositing old Rs 500 and Rs 1,000 notes in their accounts will be exempt from income tax.
Treasury gains may support Indian banks to compensate asset quality
Mon, Dec 12, 2016
Nitin Aggarwal and Renish Patel analysts of Antique Stock Broking firm said, “Treasury gains will add upto 6% in operating earnings of major public sector undertakings (PSU) banks over second half of current fiscal year (2HFY17), assuming 50 basis point reduction in interest rate across yield curve.”
23% Jan Dhan accounts still without balance; deposit surge abates
Sun, Dec 11, 2016
Despite a huge surge in total deposits in Jan Dhan accounts following demonetisation, about one-fifth of these still continue to have no balance.