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IT DEPARTMENT ASKS BANKS TO REPORT PRE NOTE BANK CASH DEPOSITS.

For the period April to November 9 2016, the date of Demonetization, Banks, have been asked to furnish the deposits made in the customers’ accounts.  The further details read as under: a) People who have not furnished the PAN number or Form 60 (in lieu of PAN number) should be advised to furnish the details

IT DEPARTMENT ASKS BANKS TO REPORT PRE NOTE BANK CASH DEPOSITS.

For the period April to November 9 2016, the date of Demonetization, Banks, have been asked to furnish the deposits made in the customers’ accounts.  The further details read as under: a) People who have not furnished the PAN number or Form 60 (in lieu of PAN number) should be advised to furnish the details

News Bits

1. Vijaya Mallya”s UB Engineering files Insolvency Petition Pune based UB Engineering which belongs to Vijay Mallya led UB group has filed for insolvency in the National Company Law Tribunal (NCLT).  The company owes around 450 crores to five banks viz Axis Bank, Yes Bank, Corporation Bank, IDBI Bank and Lakshmi Vilas Bank. Insolvency is the

News Bits

1. Vijaya Mallya”s UB Engineering files Insolvency Petition Pune based UB Engineering which belongs to Vijay Mallya led UB group has filed for insolvency in the National Company Law Tribunal (NCLT).  The company owes around 450 crores to five banks viz Axis Bank, Yes Bank, Corporation Bank, IDBI Bank and Lakshmi Vilas Bank. Insolvency is the

A PRECURSOR ON BANKS’ Q3 RESULTS

The results for the quarter ended October to December 2016 is expected to be better for the Banks.  In the same quarter last year, banks had reported a dismal performance with an increase in the bad loans and provisioning therein, with Reserve Bank of India stressing for an Asset Revaluation.  In the third quarter, the

A PRECURSOR ON BANKS’ Q3 RESULTS

The results for the quarter ended October to December 2016 is expected to be better for the Banks.  In the same quarter last year, banks had reported a dismal performance with an increase in the bad loans and provisioning therein, with Reserve Bank of India stressing for an Asset Revaluation.  In the third quarter, the

BRINGING WALLET TO THE MASSES

Demonetization has brought the players to capture the opportunity to increase their sales through association with more users, more so through a Maida’s touch in the rural areas.  The challenge is to push through the sales in the Tier II and Tier III towns unlike other digital communiques, which target the urban folks.  What is

BRINGING WALLET TO THE MASSES

Demonetization has brought the players to capture the opportunity to increase their sales through association with more users, more so through a Maida’s touch in the rural areas.  The challenge is to push through the sales in the Tier II and Tier III towns unlike other digital communiques, which target the urban folks.  What is

Demonetisation windfall for banks After SBI, FPO, other PSBs like Bank of Baroda, IDBI Bank to hit market

The increase in bank deposits, after demonetisation has resulted in stepping up lending and improving their non-performing asset (NPA) ratios.  A bunch of public sector banks are looking to tap the market to increase their capital base during the first two quarters of the next financial year.  Closely following the announced follow-on public offer of

Demonetisation windfall for banks After SBI, FPO, other PSBs like Bank of Baroda, IDBI Bank to hit market

The increase in bank deposits, after demonetisation has resulted in stepping up lending and improving their non-performing asset (NPA) ratios.  A bunch of public sector banks are looking to tap the market to increase their capital base during the first two quarters of the next financial year.  Closely following the announced follow-on public offer of