Page 942 - Finance News

Black money chase: Money-pooling schemes, buying stocks under income tax lens

Demonetisation had led to increased detection of illegal money-pooling schemes, says tax official

Chit funds, private money lenders feel demonetisation heat

Overall, around 25 per cent of the deposits in chit funds are in cash

Demonetisation: Strain on banking system as card use zooms 60%

Overall national growth in card usage was 60%, with majority skewed towards debit card usage

Recalibrating ATMs to take more than a week, say bankers

Cash management companies reported filling up ATMs had been affected because bank staff were under pressure at branches

Cash still hot as a medium of exchange

Currency circulation in India as a percentage of GDP is 12%, versus Japan's high of 20%

Investors need to revise their fixed-income strategy post demonetisation

As money flows back to banks, their deposits are expected to rise sharply

Demonetisation is another proof that Modi is reforming India: Chris Wood

The Indian government's demonetisation move, as well as the outcome of the US Presidential elections, have taken them by surprise

NPCI waives switching fee for RuPay card transactions

This waiver has been made with effect from November 11 till December 31

RBI tightens deposit monitoring, but announces measures to lessen pain

To alleviate pain of the customers standing in long queues, RBI also announced a number of measures for banks to follow

Bank employees union raps govt, RBI

RBI should also immediately ensure adequate supply of cash in denominations of Rs 100 and new Rs 500 notes

American Apparel files for second bankruptcy in just over a year

The second bankruptcy comes as the retailer struggles to overcome years of losses and rising online competition

RBI sets up panel to oversee ATM recalibrations

The panel will provide direction and guidance for recalibrating ATM machines to dispense the new notes

RBI asks banks to furnish daily data on cash withdrawals

In a circular on Sunday it asked banks to submit the data in a specific format in contrast to lenders sending it fortnightly

YES Bank appoints Amresh Acharya as Global Indian Banking head

Acharya will play a vital role in capturing market share on a global scale and build stable CASA/deposits

Banks shut today, ATMs open, withdraw Rs 2500 a day: Top developments

The weekly limit of Rs 20,000 for withdrawal from bank accounts has been increased to Rs 24,000. The limit of Rs 10,000 per day has been removed

Small towns lead in old note deposits to banks

Kolkata-based UCO Bank received Rs 2,500 crore as cash deposits. Of this, Rs 1,300 crore came from rural and semi-urban areas

SBI Q2 net down 35% at Rs 2,538 cr on high NPA provisions

Bank raises forecast for deposit growth; provisions for bad loans almost doubled from a year earlier to Rs 767 cr

Banks expect 5/25, SDR cases to increase as new debt resolution scheme kicks in

NPAs and provisioning requirement for banks to come down

Bank of Baroda profit surges four-fold to Rs 552 crore in Q2

During the quarter, gross NPAs)more than doubled to 11.35% as against 5.56% in the same period of previous fiscal

Action on banknotes provides a boon to struggling Indian lenders

Lower lending rates have long been seen as a needed boost to India's economy, which grew at a 15-month low in the April-June quarter