RBI’s Acharya suggests shift in monetary policy stance, show minutes

RBI

RBI’s Acharya suggests shift in monetary policy stance, show minutes One member of the Reserve Bank of India’s (RBI’s) rate-setting panel suggested starting the process of shifting the monetary policy stance from neutral to “withdrawal of accommodation”, increasing the odds of a rate hike this year. Noting the upside risks to inflation, Viral Acharya, RBI […]

I-T department seizes Rs4 crore in drive against cash hoarders

Income Tax

I-T department seizes Rs4 crore in drive against cash hoarders New Delhi: In a drive against cash hoarders, the income tax (I-T) department has seized currency worth Rs4 crore from people in states, including Karnataka and Andhra Pradesh, which have reported cash shortages. The drive is part of the tax department’s efforts to track down […]

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

News

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 […]

Wrong info in ITR will be reported to employers: I-T to salaried class

Income Tax

Wrong info in ITR will be reported to employers: I-T to salaried class The tax filing season for salaried class taxpayers has just begun with the Central Board of Direct Taxes (CBDT), that frames policy for the department, recently notifying the new ITRs The Income Tax Department on Wednesday cautioned salaried class taxpayers against using […]

RBI firm on new NPA rules, says cos should not take loan contract casually

RBI

RBI firm on new NPA rules, says cos should not take loan contract casually The deputy governor said even some highly rated borrowers had failed on the one-day default norm Reserve Bank of India (RBI) deputy governor N S Vishwanathan strongly defended its new rules on debt resolution, including the one-day default norm, stating that […]

Supreme Court says biometric authentication of Aadhaar prone to misuse

News

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 […]

Govt advances deadline for GST seller returns for April, May, June

GST

Govt advances deadline for GST seller returns for April, May, June However, the government has not changed the deadline for filing GSTR-3B The government has advanced the deadlines for filing of seller forms under the goods and services tax, GSTR-1, for April, May and June, in comparison to those given for previous months.GSTR-1 for the […]

Private Banks Feeling the Heat Tighten Loan Sanction Process

News

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 […]