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Posted Date : 18-Nov-2016 , 10:04:34 pm | Posted By CASANSAAR
Public sector banks (PSBs) have reported 16 per cent rise in number of wilful defaulters at 8,167 who collectively owe them Rs 76,685 crore at the end of March 2016. As against the previous year, there is 16 per cent rise in wilful defaulters owing over Rs 25 lakh each to 8,167 from 7,031 at the ...
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Posted Date : 18-Nov-2016 , 05:53:38 pm | Posted By CASANSAAR
The Reserve Bank of India today informed the Madras High Court that it cannot disclose details regarding the release of new Rs 500 denomination currency to the banks for distribution due to security reasons. The submission was made by the counsel for RBI on a petition seeking a direction to the R...
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Posted Date : 18-Nov-2016 , 05:51:06 pm | Posted By CASANSAAR
The Supreme Court today dubbed as a "serious issue" the long queues outside banks and post offices and expressed its reservation on the Centre's plea seeking a direction that no other court in the country should entertain petitions challenging the November 8 notification demonetising R...
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Posted Date : 18-Nov-2016 , 07:54:52 am | Posted By CASANSAAR
The government allowed dispensing cash of up to Rs 2,000 through debit card swipe at some selected IOCL, BPCL and HPCL petrol pumps. The initiative has been launched by the public sector oil companies in association with State Bank of India to ease the burden on banks and ATMs. The facility...
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Posted Date : 17-Nov-2016 , 05:23:35 pm | Posted By CASANSAAR
In a breather for farmers across the country ahead of the onset of Rabi season, Economic Affairs Secretary Shaktikanta Das Thursday announced that farmers can withdraw up to Rs 25,000 per week from the payment they receive for agriculture produce in form of cheque or RTGS. Further, the government ha...
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Posted Date : 17-Nov-2016 , 08:17:31 am | Posted By CASANSAAR
In the wake of demonetisation of high-value currency, RBI has asked banks to ensure that customers submit a copy of permanent account number (PAN) card for any cash deposit exceeding 50,000 rupees, if it is not already seeded with the account. The apex bank said this in a notification with ...
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Posted Date : 17-Nov-2016 , 08:11:29 am | Posted By CASANSAAR
State Bank of India today said it collected Rs 1,14,139 crore in deposits in last seven days after the government announced demonetisation of Rs 500 and Rs 1,000 notes. The bank saw 240.90 lakh cash deposit transactions between November 10 and November 16 up to 7 PM, SBI said in a statement here ...
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Posted Date : 16-Nov-2016 , 10:06:44 am | Posted By CASANSAAR
The finance ministry today asked banks to consider engaging retired employees to deal with the unprecedented rush for exchange of invalid currency notes and ease pressure on existing staff. In a letter written to Indian Banks' Association (IBA), the financial services department of the financ...
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Posted Date : 15-Nov-2016 , 02:27:18 pm | Posted By CASANSAAR
Supreme Court today refused to stay the government's notification demonetising Rs 500 and Rs 1,000 currency notes but asked it to spell out the steps taken to minimise public inconvenience. "We will not be granting any stay," a bench comprising Chief Justice T S Thakur and D Y Chand...
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Posted Date : 15-Nov-2016 , 02:21:32 pm | Posted By CASANSAAR
Even as the government and the Opposition are trying to formulate their strategies for the coming winter session of Parliament on the issue of demonetisation, Economic Affairs Secretary Shaktikanta Das, in a press meet on Tuesday, made a couple of announements to combat the crisis of cash ...
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Posted Date : 14-Nov-2016 , 08:53:13 pm | Posted By CASANSAAR
Amidst unprecedented panic rush in banks and ATMs across the country, the Supreme Court would tomorrow hear a batch of PILs seeking quashing of the government's decision to demonetise Rs 1,000 and Rs 500 currency notes on the grounds that it infringed citizens' right to life and trade among ...
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Posted Date : 13-Nov-2016 , 09:52:26 pm | Posted By CASANSAAR
Daily limit for withdrawing cash from ATMs has been increased to Rs 2,500 from existing Rs 2,000, announced Ministry of Finance on Sunday after reviewing the position regarding availability and distribution of all denomination of bank notes. Follow Min...
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Posted Date : 11-Nov-2016 , 09:51:09 pm | Posted By CASANSAAR
Government today extended use of old Rs 500 and Rs 1,000 notes for paying household utility bills, fuel, taxes and fees as well as purchases from co-operative stores by another 72 hours to November 14 as it struggles to make available alternative currency. While withdrawing Rs 500 and Rs 1,000 no...
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Posted Date : 11-Nov-2016 , 02:09:26 pm | Posted By CASANSAAR
The Madurai bench of the Madras High Court today dismissed the petition seeking a stay on demonetisation of Rs 500 and Rs 1,000 notes. The petition was filed by the political party Indian National League (INL). The bench said the government's demonetisation scheme is good for the country. ...
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Posted Date : 10-Nov-2016 , 08:20:06 am | Posted By CASANSAAR
A plea was Wednesday filed in Supreme Court seeking quashing of the Narendra Modi government’s decision to demonetise Rs 1,000 and Rs 500 currency notes on grounds that it infringed on citizens’ right to life and to trade, among others. The PIL, which could be listed for hearing during t...
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Posted Date : 10-Nov-2016 , 07:53:06 am | Posted By CASANSAAR
Those who have deposited more than Rs 10 lakh in their bank accounts, not commensurate with their income tax returns, will have to pay tax and a 200 per cent penalty on the amount as laid out in the Income Tax Act, Revenue Secretary Hasmukh Adhia tweeted on Wednesday. “If ...
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Posted Date : 09-Nov-2016 , 07:20:10 pm | Posted By CASANSAAR
Two senior advocates have moved the Bombay high court (HC) urging it to take suo moto cognisance of the Union government’s decision to stop the circulation of all currency notes of the denomination of Rs500 and Rs1,000. Advocate Jamshed Mistry and advocate Jabbar Singh moved the HC’s ...
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Posted Date : 09-Nov-2016 , 07:14:39 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley on Wednesday said deposits of now-defunct old Rs 500 and Rs 1,000 currency notes in bank accounts will not enjoy immunity from tax and the land of law will apply on source of such money. A day after the government announced the withdrawal of Rs 500 and Rs 1,000 banknote...
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Posted Date : 09-Nov-2016 , 05:57:14 pm | Posted By CASANSAAR
RBI/2016-17/114 DBR.No.Leg.BC.31/09.07.005/2016-17 November 9, 2016 The Chairman / Managing Director and Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Small Finance Banks / Regional Rural Banks / Local Area Banks All Cooperative Banks Dear...
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Posted Date : 08-Nov-2016 , 11:36:05 pm | Posted By CASANSAAR
My dear citizens I hope you ended the festive season of Diwali with joy and new hope. Today, I will be speaking to you about some critical issues and important decisions. Today I want to make a special request to all of you. You may recall the economic situation in May 2014 when you entrusted us ...
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Posted Date : 08-Nov-2016 , 09:01:11 pm | Posted By CASANSAAR
Currency notes of Rs 500 and Rs 1,000 won’t be valid from midnight, PM Narendra Modi says in an address to the nation. “Currency notes of Rs 1000 and Rs 500 will be just paper with no value,” the PM says. Modi says the citizens’ money will be safe as they can deposi...
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Posted Date : 31-Oct-2016 , 04:31:17 pm | Posted By CASANSAAR
With several high-ticket alleged frauds like Vijay Mallya loan default case coming to fore, Central Vigilance Commission has now made it mandatory for the public sector banks to report to it all such matters involving funds over Rs one crore. Based on the reports, the anti-corruption watchdog, wh...
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Posted Date : 20-Oct-2016 , 07:44:15 am | Posted By CASANSAAR
Banks in India will either replace or ask users to change the security codes of as many as 3.2 million debit cards in what's emerging as one of the biggest ever breaches of financial data in India, people aware of the matter said. Several victims have reported unauthorised usage from locations i...
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Posted Date : 27-Sep-2016 , 08:15:41 am | Posted By CASANSAAR
As part of the consolidation process within the SBI Group, its five associate banks including State Bank of Bikaner and Jaipur (SBBJ) will soon submit to the Reserve Bank the scheme of acquisition as ratified by shareholders. The board of the directors has considered the report of the expert comm...
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Posted Date : 31-Aug-2016 , 07:36:50 am | Posted By CASANSAAR
The Kerala high court on Tuesday issued notice to the Union finance ministry, the Reserve Bank of India (RBI), State Bank of India (SBI), State Bank of Travancore (SBT) and the state government on a petition filed against the move to acquire SBT by SBI. A division bench comprising acting chief ...
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Posted Date : 23-Aug-2016 , 08:31:55 am | Posted By CASANSAAR
The government is not favour of the Reserve Bank of India’s suggestion seeking to withdraw the banking regulator’s nominee directors from the boards of public sector banks. The finance ministry feels that the presence of RBI nominees improves the working of boards of PSU banks, and their...
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Posted Date : 18-Aug-2016 , 10:49:29 pm | Posted By CASANSAAR
Around five lakh bank employees and officers in banks will join the All India General Strike on September 2, 2016 to protest against the Central Government's anti-people economic policies and anti-worker labour reforms. Employees and officers working in various public sector banks, private ba...
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Posted Date : 18-Aug-2016 , 06:01:41 pm | Posted By CASANSAAR
State bank of India board at a meeting held on Thursday approved the merger of 3 associate banks and BMBL to create a banking giant. In a filing on BSE, the public sector lender said,”The Central Board of Directors of the State Bank of India have accorded their approval to the Scheme of Acquis...
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Posted Date : 17-Aug-2016 , 07:53:49 am | Posted By CASANSAAR
The Reserve Bank on India (RBI) on Tuesday said it has imposed penalties of up to Rs 5 lakh on four co-operative banks for violation of norms. The central bank said it has imposed a monetary penalty of Rs 5 lakh on The Co-operative City Bank, Guwahati, for flouting know-your-customer ...
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Posted Date : 15-Aug-2016 , 07:27:14 pm | Posted By CASANSAAR
The six documents required for proof of identity are passport, driving licence, voter identity card, PAN card, Aadhaar card issued by UIDAI, and NREGA card. You need to submit any one of these documents. If these documents also contain your address details, then it would be accepted as proof of addr...
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