Finance

Banks earned Rs 10,000 crore penalty from people who didn't had money It has been registered that about twenty-two scheduled commercial banks (SCB) have collected almost Rs 10,000 crore in the last three years as a penalty for not…

Maharashtra has most number of ATM frauds in India With an increase in the number of ATM frauds in the country, the assessment year 2018-19 recorded 980 cases of ATM frauds around the country, the highest number till today. Inspite of…

Buy EV Vehicle, and save upto Rs 2.5 lakh in income taxes The Finance Minister Nirmala Sitharaman in her maiden Budget 2019 speech, made some significant announcements, aiming to boost up the manufacture and purchase of electric…

SBI has reduced home loan rates To anyone who’s looking for registering a home loan, there’s good news for you. The country’s largest lender, State Bank of India (SBI) has reduced its home loan rates by 20 basis points. It has actually…

IT Employees' salary is stagnant since 7 years Amongst all the financial problems burgeoning the country, all eyes are set on the new Finance Minister Nirmala Sitharaman. She carries the load of issues such as farmer distress, sluggish…

Yashovardhan Birla is a wilful defaulter? Yashovardhan Birla, the director of Birla Surya and also chairman of the Yash Birla Group has been declared as the willful defaulter for non-payment of Rs 67.55 crore given to Birla Surya Ltd…

There have been over 50,000 bank fraud cases hitting the Indian banks in the last 11 fiscal years. Right from big PSBs to small ones, private banks even international banks with their branches in India, these financial institutions…

Amidst the heat of Public Sector bank (PSB) consolidations going on, the new government is looking forward to another such consolidation. We have kept you updated of all such news on bank amalgamations and the future predictions…

Under the second tenure of Modi government, reforms have been introduced to curb tax evasion using data analytics. This is the first time since the launch of GST on July 1, 2017 that the Centre has started to match income tax returns…

There has been a lot of unrest and a state of confusion enveloping the ongoing debate on using Aadhar card for Know Your Customer (KYC) process verifications. Finally, a temporary relief can be pertained by the online payment…

We recently brought you news about the first Public Sector Bank (PSB) consolidation of Vijaya Bank and Dena Bank with Bank of Baroda, effective on April 1, 2019, anticipating that there will allegedly be more mergers this year.…

With the commotion going on in financial sector regarding the step-up of digitization and reduction in carrying actual cash, the Reserve Bank of India has released its statement on the Vision document for the 'Payment and Settlement…

Punjab National Bank can be merged with smaller banks With 144,952 branches of 159 scheduled commercial banks catering to the needs of about 1.3 billion people, the Indian banking system is one of the largest in the world. With the…

After Bharti Airtel launched its payments bank in January, Idea cellular has set itself a June threshold to launch payments bank operations. Interestingly, Vodafone was rumoured to go live with their payments bank in March 2017,…

You would be surprised to know that India is the only country in the world which follows the Maximum Retail Price (MRP) system for selling consumer goods. As per Legal Metrology Act, every packaged product in India is labelled with…

Over the past 5 years, the mutual fund industry has traversed many milestones to become a vital cog in the investor’s portfolio mix. There have been game changers introduced that have completely revolutionised the mutual fund realm. Gone…

Banks have decided to reward those customers whose credit score is good and who pay their installments on time. For the very first time in India, home loan interest rates (which determine your EMI) will be directly linked with the…

Finally, Government of India had to issue a press release issuing directives for service charge, which is currently being forcefully charged by restaurant owners. In a press release published by Press Information Bureau, Govt. has…

For small traders and businesses looking for ways to save taxes, this is the golden time indeed. India’s Finance Minister, Arun Jaitley has explained two ways using which small traders can save upto 46% tax. Traditionally, these…

In the excitement and urgency to go cashless, are we missing something? For instance, safety standards and guidelines, especially when it comes to petrol pumps? It seems we have, as a unique mis-match of safety precautions and…