Bank GK Updates Dec 07 - Dec 12 2016
|India likely to miss April deadline for GST|
India > GST > Dec 12
India is likely to miss a self-imposed deadline to launch the Goods and Services Tax (GST) from April after a meeting of federal and state officials ended on Sunday without deciding who would administer the tax. Central and state finance officials failed to resolve their differences amid acrimony over Prime Minister Narendra Modi's shock decision last month to abolish high-value banknotes in an attempt to combat tax evasion, forgery and corruption.
Cyclone Vardah keeps Andhra Pradesh on high alert; over 9,400 evacuated
India < Cyclone vardah > Dec 12
Over 9,400 people living along the Bay of Bengal coast in SPS Nellore district of Andhra Pradesh were today evacuated to relief camps amid heavy rains due to the influence of severe cyclonic storm Vardah.
Cyrus Mistry removed as director of Tata Industries
Corporate > Tata Industries > Dec 12
The boardroom battle between Tata Sons and its former chairman refuses to end with Cyrus Mistry being removed as the director of Tata Industries. The announcement was made by a spokesperson of Tata Sons today. According to sources in the company, Mistry was voted out at the EGM (Extraordinary General Meeting) of the Tata Industries.
AgustaWestland scam: After SP Tyagi's claim, CBI to question ex-PMO officials
India > AgustaWestland scam > Dec 12
The Central Bureau of Investigation (CBI) is likely to interrogate some of the officials of the Prime Minister's Office, who worked during the tenure of Manmohan Singh. The development comes after former chief of air staff SP Tyagi claimed that officials of the PMO under Manmohan Singh were involved in changing the altitude criteria for the VVIP choppers, which were to be procured from AgustaWestland.
BoB in talks to buy Central Bank's housing finance arm
Banks > BoB - Central Bank > Dec 11
Looking to strengthen its position in the home loan segment, Bank of Baroda is in talks to buy a majority stake in Cent Bank Home Finance (CBHFL), the housing finance subsidiary of Central Bank of India, say sources. Central Bank holds 64 per cent stake in CBHFL, while Hudco, UTI and National Housing Bank are the other promoters. "Talks are at an advanced stage. Central Bank has agreed to sell its entire stake to BoB," a source told PTI.
SBI to launch Rs 25,000 limit credit card soon
Banks > SBI > Dec 11
To tap opportunities arising out of limited cash supply, SBI Cards will soon launch a credit card with a cap of Rs 25,000 for those at the lower strata of the society, who have the capacity to pay but don't have cards, a top company official said.
Banks must keep deposits record of scrapped, valid notes: Government
Banks > Deposits record > Dec 11
To avoid any malpractices, the government today asked all public sector banks to strictly maintain record of deposits made through both old Rs 500/1,000 notes and other valid currencies. In a letter written to chief executive officers of public sector banks, the Finance Ministry asked that "maintenance of records regarding deposit of Specified Bank Note (SBN) and Non-SBN, as the case may be, is essential both in the bank record as well as the customers record.
Government to launch helpline number 14444 for digital payments support
India > Digital payments support > Dec 11
After a TV channel and a website to promote digital payments, a nationwide toll-free helpline number '14444' will be launched soon to educate people and provide support related to cashless mode of transactions. The service is expected to be operational within a week.
Claims worth Rs 4,416 crore settled under PM Crop scheme
India > PM Crop scheme > Dec 10
Madhya Pradesh has settled and disbursed claims worth Rs 4,416 crore under the Prime Minister's Crop Insurance Scheme in the state. Prime Minister Narendra Modi had launched the scheme at Sherpur in Sehore district of Madhya Pradesh during the Farmers' Convention held on February 18, 2016.
Digital payments soar by up to 300 per cent after demonetisation
Finance > Digital payments > Dec 10
The government's demonetisation move, and the subsequent cash crunch, has led to a surge in digital payments. According to the government data, the number of daily transactions through e-wallet services such as Oxigen, Paytm and MobiKwik has shot up from 17 lakh — recorded on November 8 when demonetisation was announced — to 63 lakh as on December 7 (a growth of 271%). In terms of value, the surge has been 267%, from Rs 52 crore daily to Rs 191 crore now.
SC clarifies national anthem mandate, gives relief to disabled people
India > National anthem > Dec 09
The Supreme Court on Friday refused to provide any interim relief or relax its order mandating singing of national anthem+ before screening of films. However, the top court clarified+ that the disabled need not stand up for the anthem.
Aadhaar-based rail reservations for senior citizens mandatory from April 2017
India > Railways > Dec 09
From January 1 to March 31, 2017, requirement of Aadhaar verification for getting concessional tickets for senior citizens will be on a voluntary basis. From April 1, 2017, such a requirement would become mandatory.
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