India may not have the luxury of being selective about FDI

India may not have the luxury of being selective about FDI

Going forward, as India tries to limp back to normalcy after the Covid crisis, it is quite evident that it will have to rely heavily on FDI flows to re-fire its investment engine Responding to the concerns that Chinese entities could mount takeovers of Indian companies during the Covid-triggered market rout, the Centre has taken […]

Supreme Court pulls up Singh brothers, Fortis and Indiabulls for contempt

Supreme Court pulls up Singh brothers, Fortis and Indiabulls for contempt

Asks brothers to deposit Rs 2350 crore, Indiabulls to deposit value of 12.35 lakh sold shares. The Supreme Court (SC) has ordered former Fortis promoters, brothers Malvinder and Shivinder Singh to deposit up to  Rs 2350 crore within eight weeks, on Friday. The court held the Singh brothers, Fortis Healthcare Limited (FHL) and financial services […]

I-T department busts Rs 3,300-crore hawala racket involving infrastructure firms

I-T department busts Rs 3,300-crore hawala racket involving infrastructure firms

The raids to unearth the large tax evasion nexus were conducted in the first week of this month on 42 premises in Delhi, Mumbai, Hyderabad, Erode, Pune, Agra and Goa on a group of people indulging in issuing bogus bills and carrying on hawala tran. NEW DELHI: The CBDT (Central Board of Direct Taxes) on […]

SBI, Bank of Baroda squeeze micro-ATM transactions of other banks

SBI, Bank of Baroda squeeze micro-ATM transactions of other banks

BENGALURU: Public sector lenders State Bank of India (SBI) and Bank of Baroda (BoB) have limited the cash withdrawals of customers using micro-ATMs of other banks to just four times a month, in what could cause transactions undertaken through the Aadhaar-enabled Payment System (AePS) route to fall significantly. While BoB is allowing customers to do […]

File your income tax return, NOW!

File your income tax return, NOW!

The ITR filing due date has been extended, but don’t wait till the 11th hour. The taxman has shown magnanimity yet again. This time, he has extended the due date for filing income tax returns for the financial year 2018-19 (assessment year 2019-20) by a whole month — from July 31 to August 31. The […]

SBI reports frauds of Rs 7,951 crore in 9 months of FY’19

SBI reports frauds of Rs 7,951 crore in 9 months of FY’19

State Bank of India (SBI) on Friday said frauds amounting to Rs 7,951.29 crore were reported during the first nine months of 2018-19. All these accounts became NPAs much earlier and most of the portfolio is already provided for with 100 per cent provision, SBI said in a regulatory filing. “Moreover, we provide additional provision […]

RBI refuses to state how much destruction of banned notes cost: RTI

RBI refuses to state how much destruction of banned notes cost: RTI

The RBI has declined to reveal the cost incurred on shredding banned currency notes worth Rs 15,31,073 crore which returned to banks following demonetization, an RTI activist said, citing a response from the central bank. To a query under the Right to Information (RTI) Act, the Reserve Bank of India (RBI) said the process of […]

Yes Bank shares crack 15% after Q2 results

Yes Bank shares crack 15% after Q2 results

Shares of Yes Bank Friday cracked 15 per cent after the company reported a decline of 3.8 per cent in net profit for the second quarter ended September 30, 2018. After a weak opening, shares of the company further tanked 14.99 per cent to Rs 168.60 on BSE. It later recovered most of its sharp […]

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