Taxmen to spare deposits below Rs 5 lakh in 2nd phase of account scrutiny
Finance > tax > Feb 21
The income tax department ( I-T department) is likely to launch the second phase of ‘Operation Clean Money’ next month to close in on unaccounted money making its way into banks but may ignore standalone deposits below rupees five lakh for now.
Govt invites i-bankers to help manage share sale in IRCTC, IRCON, IRFC
Banks > i-bankers > Feb 20
The govt is considering divesting a portion of the paid-up equity share capital through an IPO and has sought expression of interest from investment bankers by 16 March
India, Rwanda sign three agreements
India > India - Rwanda > Feb 20
India and Rwanda have signed three agreements during the visit of Vice President Hamid Ansari to boost bilateral relations that include establishment of an entrepreneurship developement centre in Kigali. According to the Memorandum of Understandings signed between Rwanda and India, Rwanda Air will soon begin services to India, and the two countries will mutually exempt visa requirements for diplomatic and official passport holders.
Banks look for insurance as cyber threats increase
Banks > Insurance > Feb 19
With instances of cyber threats increasing, the banks, which are increasingly going digital prodded by government and regulators following note-ban, are looking for cyber insurance — a fledgling industry vertical for general insurers but having large growth potential. The country reportedly lost a whopping USD 4 billion in fiscal 2016 to cyber crimes, while globally, the economic loss due to cyber crimes stood at USD 455 billion in 2016.
Sasikala sent to Bengaluru jail, will share cell with two other inmates
India > Sasikala > Feb 16
AIADMK General Secretary Sasikala on Wednesday surrendered before Bengalure police after being convicted in the disproportionate asset case by the Supreme Court. The trial court, place to surrender, was shifted the central jail at Parapppana Agrahara due to security reasons. Sasikala gave herself up at the Central Jail on the city’s southern outskirts with her relatives Elavarasi and V.N. Sudhakaran after reaching from Chennai by road, officials said.
Shurhozelie Liezeitsu elected new Nagaland CM
India > Nagaland > Feb 21
Nagaland People’s Front (NPF) president Shurhozelie Liezeitsu will be sworn in as the state’s eleventh Chief Minister Wednesday. He was on Monday invited by Governor P B Acharya to form the next government after the ruling Democratic Alliance of Nagaland (DAN) unanimously elected him leader of its legislature party. Accompanied by the outgoing Chief Minister T R Zeliang, Shurhozelie met the Governor at the Raj Bhavan and staked claim to form the next government.