Banks Want MPs, Finmin Officials to Help Convince RBI to Relax Norms

Banks Want MPs, Finmin Officials to Help Convince RBI to Relax Norms Lenders seek a longer period — a minimum of 30 days — to start the resolution of a loan Lenders led by the State Bank of India (SBI) have sought New Delhi’s intervention in convincing the banking regulator to relax the recent rules […]

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FinMin raises questions on interest rate of 8.55% proposed by EPFO

FinMin raises questions on interest rate of 8.55% proposed by EPFO Asks why the retirement fund body has not kept a higher surplus The finance ministry has raised questions over the Employees’ Provident Fund Organisation’s (EPFO’s) recent decision to declare an interest rate of 8.55 per cent to around 200 million formal sector workers for […]

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Examine possibility of converting GSTN into govt-owned firm: FM to Adhia

Examine possibility of converting GSTN into govt-owned firm: FM to Adhia The move came after there were reports of leakages of data, including those allegedly by Facebook and Cambridge Analytica Ten months into the goods and services tax (GST), the Centre is looking at converting GST Network (GSTN), a company managing the IT infrastructure of […]

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Don’t deny pension for want of Aadhaar: EPFO to banks

Don’t deny pension for want of Aadhaar: EPFO to banks The circular also said people who do not have Aadhaar should be encouraged to get it The Employees’ Provident Fund Organisation (EPFO) has asked banks to not deny monthly pension to people for want of Aadhaar cards or biometric authentication. Instead, they can use other […]

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Decoding ITR Form-1 (Sahaj) meant for salaried individuals

Decoding ITR Form-1 (Sahaj) meant for salaried individuals The Central Board of Direct Taxes (CBDT) has notified the new income tax return forms (ITR) for assessment year (AY) 2018-19. While some amendments have been made in ITR Form -1 (Sahaj), ITR Form-2 has also been rationalised. ITR Form 1 (Sahaj) ITR Form -1 (Sahaj) is […]

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Non-banking Cos Using UPI to Get a Payments Council Seat

Non-banking Cos Using UPI to Get a Payments Council Seat The Payments Council of India, the industry body for payments in the country, is in the process of forming a separate subcommittee for non-banking private players using Unified Payments Interface (UPI) for fund transfer. This comes amid steady growth of UPI-based transactions and mushrooming of […]

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SEBI Clarifies on Investment Limit for FPIs Owned by Foreign Govts

SEBI Clarifies on Investment Limit for FPIs Owned by Foreign Govts Two or more foreign government-related entities from the same jurisdiction will be considered a single foreign portfolio investor (FPI) and will be eligible to invest up to 10% in a listed Indian company, market regulator Sebi said. “However, in cases where government of India […]

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