Delink provisional credit from tax payment, say stakeholders

Delink provisional credit from tax payment, say stakeholders Earlier, the GoM, headed by Bihar deputy chief minister Sushil Modi, had zeroed on two models of simplification In the effort to evolve a consensus over provisional input tax credit for the goods and services tax (GST), stakeholders have asked the group of ministers (GoM) on the […]

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Demonetisation led to highest fake currency, suspicious transactions

Demonetisation led to highest fake currency, suspicious transactions The country’s banks received an all-time high amount of fake currency and also detected an over 480 per cent jump in suspicious transactions post demonetisation, a first-ever report on dubious deposits made in the wake of the 2016 notes ban has revealed.The banks, including those in the […]

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Power regulatory bodies must have a judicial member: SC

Power regulatory bodies must have a judicial member: SC The Supreme Court ordered that one of the members of electricity regulatory commissions should be a person of judicial background, quashing orders of various high courts that the chairperson of such bodies in states should be a high court judge. The top court also said the […]

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Govt to continue talks with RBI on easing non-performing asset norms

Govt to continue talks with RBI on easing non-performing asset norms Officials said the Prime Minister’s Office and Finance Minister Arun Jaitley had been apprised of the matter A day after Reserve Bank of India (RBI) Deputy Governor N S Vishwanathan ruled out easing new norms for non-performing asset (NPA) resolution, the government doubled down […]

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Supreme Court says biometric authentication of Aadhaar prone to misuse

Supreme Court says biometric authentication of Aadhaar prone to misuse If a person is unable to get ration due to failure of authentication, then any other family member can produce the Aadhaar number to get the benefits.If biometric authentication is attached to every transaction entered into by a person, it would “form a wealth of […]

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With the ongoing cash crunch, digital money gets another lifeline

With the ongoing cash crunch, digital money gets another lifeline As news of no-cash flooded social media sites and news channels, the past 24 hours have seen a surge in people queuing to get the KYC done After a lull for months, things might be again looking up for the country’s digital money entities, due […]

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Private Banks Feeling the Heat Tighten Loan Sanction Process

Private Banks Feeling the Heat Tighten Loan Sanction Process BANKERS TURNING more cautious in granting new loans after the latest controversies The ICICI Bank controversy and Axis Bank’s chief cutting short her tenure have now made private sector lenders extra watchful about making loans, picking up a trend that’s been prevalent at state-owned banks in […]

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Relaxed Currency Derivatives Norms to Bring More Arbitrage Opportunities

Relaxed Currency Derivatives Norms to Bring More Arbitrage Opportunities Move likely to deepen domestic currency market and make it more popular among overseas investors Easier currency derivative rules have helped traders exploit the opportunities of arbitrage between rates in the overseas options markets and those back home. In effect, the arbitrage is helping deepening the […]

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IMF maintains India’s FY19 growth at 7.4%; cautions govt on fiscal deficit

IMF maintains India’s FY19 growth at 7.4%; cautions govt on fiscal deficit Projected to overtake China to be fastest-growing large economy again The International Monetary Fund (IMF) has maintained its forecast for India’s economic growth at 7.4% in 2018-19, which will again make the country the fastest-growing large economy after losing this tag to China […]

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