Finance

Finance

Bengal to upgrade 250 PACS to banking outlets

Keeping the upcoming panchayat elections in view, West Bengal government is going to upgrade 250 Primary Agricultural Credit Societies (PACS) to banking outlets in the first phase with an objective to facilitate more credit to farmers, an official said on…
Finance

DS Kulkarni, wife Hemanti, arrested by Pune Police, finally

After making several efforts citing new reason every time, Pune-based builder DS Kulkarni and his wife Hemanti were arrested by the Economic Offences Wing (EOW) of Pune Police. The couple was arrested at around 5am on Saturday from a hotel…
Finance

Nirav Modi-PNB Fraud: CBI Arrests Bank Officials Gokulnath Shetty, Manoj Kharat; ED Raid Underway at Gitanjali Gems

New Delhi, Feb 17: The Central Bureau of Investigation (CBI) on Saturday made the first arrest in the Nirav Modi-PNB fraud case. The CBI has arrested Punjab National Bank’s former deputy manager Gokulnath Shetty and Manoj Kharat, SWO (single window operator) over Nirav…
Finance

Syndicate Bank delays paying penalty by citing arbitration; RBI trashes this excuse

After a delay of 50 days, the Syndicate Bank of Mudalgi in Gokak district of Belgaum finally credited the Rs5,000 debited wrongly from the account of pensioner Tukaram Yargatti, during a failed ATM transaction at a Canara Bank ATM. Syndicate…
Finance

5 simple ways to save income tax

1. Section 80D The Section 80D of the Income Tax Act, 1961 offers tax deduction up to Rs 25,000 for all Health Insurance premiums paid for one’s own self, spouse and children. The tax exemption limit is further raised to…
Finance

Capital First to merge with IDFC Bank

Non-banking financial company Capital First has decided to merge with IDFC Bank, subject to regulatory and shareholder approvals. Pursuant to the merger subject to regulatory and shareholder approvals, IDFC Bank will issue 139 shares for every 10 shares of Capital…
Finance

MONEY & BANKING Economy & Nation Crypto-currency Is Not Legal Today but Nobody Knows What the Future Holds

There is so much being written about people who have turned billionaires by investing in Bitcoins that those who missed the boat fall into four categories—the ones clambering on to the crypto-currency bandwagon in the hope of making big bucks…
Finance

RBI clarifies that linking Aadhaar to bank accounts is mandatory

The RBI clarified that everyone who is eligible to enroll for Aadhaar will have to submit it to banks under the Prevention of Money Laundering Act. Clearing the air on media reports that suggested the linking of Aadhaar to bank…
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