ED arrests two Private Bank Officers for helping in conversion of black money
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ED arrests two Private Bank Officers for helping in conversion of black money

In a very shocking incident, the Enforcement Directorate has arrested two bank managers from Axis bank after they acted as mediators for converting black money into white, in lieu of a gold brick. Officials identified the two managers as Shobit Sinha and Vineet Sinha, working as managers in the Kashmere Gate …

Constitutional compulsion to roll out GST by Sep 16 next year: Arun Jaitley
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Constitutional compulsion to roll out GST by Sep 16 next year: Arun Jaitley

Union Finance Minister Arun Jaitley said on Friday it was a “constitutional compulsion” to roll out the Goods and Services Tax before September 16, 2017, reported PTI. He added that since the existing indirect tax system will cease to exist by September next year, it will be impossible to run the country without …

IFC likely to invest Rs 450 Cr in Apollo Health and Lifestyle Ltd
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IFC likely to invest Rs 450 Cr in Apollo Health and Lifestyle Ltd

Apollo Health and Lifestyle Ltd (AHLL), a wholly-owned subsidiary of Apollo Hospitals, Thursday announced receiving investments of Rs 450 crore ($65.8 million) from International Finance Corporation (IFC).  “The investment will help us meet the ever-increasing demand for quality healthcare in the country,” said …

Maruti sales jump 12 %to 1,35,550 in November
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Maruti sales jump 12 %to 1,35,550 in November

India’s largest passenger vehicles maker in terms of both revenue and volumes has posted healthy sales number for the month of November despite currency demonetisation move by the government playing the spoil sport. Total sales for the month of November is up by 12.2 per cent at 1.35 lakh as against 1.2 lakh on a …

RBI Limits Jan Dhan Withdrawal at Rs 10,000 Per Month
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RBI Limits Jan Dhan Withdrawal at Rs 10,000 Per Month

The Reserve Bank of India, issued a notification on Tuesday, said Jan Dhan account holders can withdraw only up to Rs. 10,000 per month. It added that, “Limited or Non KYC compliant account holders may be allowed to withdraw Rs. 5,000 per month from the amount deposited through SBNs after November 09, 2016 within …

Airtel Payment Bank gets over 10,000 savings account users in just 2 days
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Airtel Payment Bank gets over 10,000 savings account users in just 2 days

Airtel Payments Bank said over 10,000 customers have opened savings accounts with it within two days of going live with a pilot project in Rajasthan. The customers mostly comprise of people from semi-urban and rural areas. Shashi Arora, MD & CEO, Airtel Payments Bank said, “We are offering the highest interest …

Demonetization Move Slows Down PC, Mobile Devices Market in India in CY Q4 2016: IDC
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Demonetization Move Slows Down PC, Mobile Devices Market in India in CY Q4 2016: IDC

Indian government’s decision to scrap high-valued notes of Rs 500 and Rs 1000 which accounts for more than two-third of the cash stream will lead to “immediate but temporary” fall in device sales in Q4 2016, according to research firm IDC.  In the mobile phones segment, IDC analysts revised the estimated sales …

Digital transactions in banking sector going up: SBI
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Digital transactions in banking sector going up: SBI

SBI Chairperson, Arundhati Bhattacharya, said on Thursday, , “Digital transactions have really gone up in the sense that if you look at my PoS transactions, it is 300 per cent up in numbers and 200 per cent by value. If you take a look at the wallet, the wallet download is hugely up. In fact, we have never seen so …

Banks waive MDR for all debit cards till Dec 31
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Banks waive MDR for all debit cards till Dec 31

As people continue to face cash crunch after the scrapping of high value notes, the Union government on Wednesday decided to waive off MDR (Merchant Discount Rate) charges on use of debit cards and service charges on online Railway ticket booking till December 31. “Public sector banks and some private sector banks …