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Inclusion Into Startup Initiatives, Risk Mitigating Policies: BWA Lists Web3 Needs for Upcoming Government
The BWA, in a recent announcement, listed some immediate steps that the upcoming government could consider aiming to grow the blockchain-based sector. Providing escrow accounts and banking services for owners of Web3 businesses, allowing offsetting of losses, and reducing the one percent TDS tax law to 0.01 percent are among suggestions given by th...
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Haryana Cops To Impose National Security Act Against Protesting Farmers
Amid a stand-off with the farmers, Haryana Police in Ambala District has said that any loss to the government and private property during the protest will be compensated by attaching the property and seizure of bank accounts of the protestors.
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Axis Bank Q4 Results: Net Loss At Rs 5,728 Crore
Private sector lender Axis Bank on Thursday reported a net loss of Rs 5728.42 crore for the March 2023 quarter on account of the acquisition of the retail consumer business of CitiIndia.
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Apple, Google Need to Submit Details on Tackling Fake Crypto Apps, US Lawmakers Reach Out
US authorities have reached out to big tech giants Apple and Google, in a bid to check if the companies are proactively monitoring crypto apps available to their users for downloads. The letters, addressed to Tim Cook and Sundar Pichai come in the backdrop of a Federal Bureau of Investigation (FBI) warning that has recently claimed that fake crypto...
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How Banks Recouped 40% Losses From Vijay Mallya, Nirav Modi, Mehul Choksi
Assets worth Rs 9,371 crore belonging to fugitive businessmen Vijay Mallya, Nirav Modi, Mehul Choksi have been transferred by the Enforcement Directorate to state-run banks that will help them recover losses on account of the fraud.
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Punjab & Sind Bank Declares Lanco Infratech's Rs 215 Crore NPA Account As Fraud
Punjab & Sind Bank declared Lanco Infratech Limited's NPA account as fraud, with outstanding dues of Rs 215.17 crore on Wednesday, June 16.
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Indian Economy Likely To Contract By 9.6% In 2020-21: World Bank
The World Bank said that the informal sector, which accounts for four-fifths of employment, has been subject to severe income losses during the COVID-19 pandemic
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ICICI Bank June Quarter Profit Rises 36% To Rs 2,599 Crore, But Misses Street Estimates
ICICI Bank on Saturday reported a 36.22 per cent rise in net profit to Rs 2,599.15 crore in the quarter ended June 30 compared to the corresponding period a year ago, but missed analysts' estimates. Provisions for bad loans by the country's third largest private bank by market capitalisation rose sharply to account for the impact of the coronavirus...
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Your Money Safe, Says Finance Minister As Yes Bank Crashes 85%: 10 Points
A day after the Reserve Bank of India (RBI) suspended the Yes Bank's board for a period of 30 days "owing to serious deterioration in the financial position of the Bank" and imposed a withdrawal limit of Rs 50,000 on its account holders till April 3, Finance Minister Nirmala Sithraman assured depositors that there will be no loss to any Yes Bank de...
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Forced Stake Sale Behind Fall, Says Yes Bank After Shares Plunge 23%: 10 Points
Yes Bank said on Wednesday that the steep fall in its shares the previous day was primarily on account of forced stake sale by a large shareholder. The statement from the private sector lender came a day after the Yes Bank stock nosedived as much as 29.92 per cent during the session before paring some of those losses to still close at its lowest le...
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Suspended PMC Bank Chief Hid Info From RBI Fearing "Reputational Loss"
Former Punjab Maharashtra Co-operative Bank Managing Director Joy Thomas has admitted to misleading the RBI for six to seven years by concealing and misreporting defaulted loans worth Rs 6,500 crore taken by crisis-hit real estate firm HDIL
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New Government Scheme Okayed To Provide Cash During Job Loss
"This scheme is a relief payable in cash directly to their (employees) bank account in case of unemployment and while they search for new engagement," said the Ministry of Labour and Employment.
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10 Latest Updates On Minimum Balance Rules In SBI, HDFC Bank, ICICI Bank
Top banks have collected as much as Rs 5,000 crore in fiscal 2017-18 as charges for non-maintenance of minimum balance requirements. According to banking data, as many as 21 public sector banks and three major private sector lenders collected a whopping Rs 5,000 crore from customers for non-maintenance of minimum balance in their accounts in 2017-1...
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Government Banks Lose Rs 25,775 Crore To Banking Frauds In Fiscal 2018, PNB Lost The Most: RTI
The Punjab National Bank (PNB) had incurred the highest loss of Rs 6461.13 crore due to different cases of fraud. 21 public sector banks suffered a total loss of over Rs 25,700 crore
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Tax Defaulters Beware: CBDT Enables I-T Department To Get Address From Bank, Civic Agencies
Till now, tax authorities could only issue notice to a defaulting or erring taxpayer as per the address provided by them in their PAN (Permanent Account Number)
-
Inclusion Into Startup Initiatives, Risk Mitigating Policies: BWA Lists Web3 Needs for Upcoming Government
The BWA, in a recent announcement, listed some immediate steps that the upcoming government could consider aiming to grow the blockchain-based sector. Providing escrow accounts and banking services for owners of Web3 businesses, allowing offsetting of losses, and reducing the one percent TDS tax law to 0.01 percent are among suggestions given by th...
-
Haryana Cops To Impose National Security Act Against Protesting Farmers
Amid a stand-off with the farmers, Haryana Police in Ambala District has said that any loss to the government and private property during the protest will be compensated by attaching the property and seizure of bank accounts of the protestors.
-
Axis Bank Q4 Results: Net Loss At Rs 5,728 Crore
Private sector lender Axis Bank on Thursday reported a net loss of Rs 5728.42 crore for the March 2023 quarter on account of the acquisition of the retail consumer business of CitiIndia.
-
Apple, Google Need to Submit Details on Tackling Fake Crypto Apps, US Lawmakers Reach Out
US authorities have reached out to big tech giants Apple and Google, in a bid to check if the companies are proactively monitoring crypto apps available to their users for downloads. The letters, addressed to Tim Cook and Sundar Pichai come in the backdrop of a Federal Bureau of Investigation (FBI) warning that has recently claimed that fake crypto...
-
How Banks Recouped 40% Losses From Vijay Mallya, Nirav Modi, Mehul Choksi
Assets worth Rs 9,371 crore belonging to fugitive businessmen Vijay Mallya, Nirav Modi, Mehul Choksi have been transferred by the Enforcement Directorate to state-run banks that will help them recover losses on account of the fraud.
-
Punjab & Sind Bank Declares Lanco Infratech's Rs 215 Crore NPA Account As Fraud
Punjab & Sind Bank declared Lanco Infratech Limited's NPA account as fraud, with outstanding dues of Rs 215.17 crore on Wednesday, June 16.
-
Indian Economy Likely To Contract By 9.6% In 2020-21: World Bank
The World Bank said that the informal sector, which accounts for four-fifths of employment, has been subject to severe income losses during the COVID-19 pandemic
-
ICICI Bank June Quarter Profit Rises 36% To Rs 2,599 Crore, But Misses Street Estimates
ICICI Bank on Saturday reported a 36.22 per cent rise in net profit to Rs 2,599.15 crore in the quarter ended June 30 compared to the corresponding period a year ago, but missed analysts' estimates. Provisions for bad loans by the country's third largest private bank by market capitalisation rose sharply to account for the impact of the coronavirus...
-
Your Money Safe, Says Finance Minister As Yes Bank Crashes 85%: 10 Points
A day after the Reserve Bank of India (RBI) suspended the Yes Bank's board for a period of 30 days "owing to serious deterioration in the financial position of the Bank" and imposed a withdrawal limit of Rs 50,000 on its account holders till April 3, Finance Minister Nirmala Sithraman assured depositors that there will be no loss to any Yes Bank de...
-
Forced Stake Sale Behind Fall, Says Yes Bank After Shares Plunge 23%: 10 Points
Yes Bank said on Wednesday that the steep fall in its shares the previous day was primarily on account of forced stake sale by a large shareholder. The statement from the private sector lender came a day after the Yes Bank stock nosedived as much as 29.92 per cent during the session before paring some of those losses to still close at its lowest le...
-
Suspended PMC Bank Chief Hid Info From RBI Fearing "Reputational Loss"
Former Punjab Maharashtra Co-operative Bank Managing Director Joy Thomas has admitted to misleading the RBI for six to seven years by concealing and misreporting defaulted loans worth Rs 6,500 crore taken by crisis-hit real estate firm HDIL
-
New Government Scheme Okayed To Provide Cash During Job Loss
"This scheme is a relief payable in cash directly to their (employees) bank account in case of unemployment and while they search for new engagement," said the Ministry of Labour and Employment.
-
10 Latest Updates On Minimum Balance Rules In SBI, HDFC Bank, ICICI Bank
Top banks have collected as much as Rs 5,000 crore in fiscal 2017-18 as charges for non-maintenance of minimum balance requirements. According to banking data, as many as 21 public sector banks and three major private sector lenders collected a whopping Rs 5,000 crore from customers for non-maintenance of minimum balance in their accounts in 2017-1...
-
Government Banks Lose Rs 25,775 Crore To Banking Frauds In Fiscal 2018, PNB Lost The Most: RTI
The Punjab National Bank (PNB) had incurred the highest loss of Rs 6461.13 crore due to different cases of fraud. 21 public sector banks suffered a total loss of over Rs 25,700 crore
-
Tax Defaulters Beware: CBDT Enables I-T Department To Get Address From Bank, Civic Agencies
Till now, tax authorities could only issue notice to a defaulting or erring taxpayer as per the address provided by them in their PAN (Permanent Account Number)
