Saturday , January 21 2017

Banking & Finance

RBI raises daily cash withdrawal limit from ATMs to Rs 10,000

daily cash withdrawal

RBI raises daily cash withdrawal limit to Rs 10,000 from Rs 4,500 Mumbai:  In a surprising move, Reserve Bank of India (RBI) on Monday raised daily cash withdrawal limit at ATMs to Rs 10,000. The cash withdrawal limit has been raised to Rs 10,000 with immediate effect, stated reports. At Present, ...

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Demonetisation could spark a new digital economy in India


Demonitisation have become an unexpected boon for Paytm and MobiKwik. As a historic opportunity to pull out evils in the nation’s shadow economy, the Indian prime minister, Narendra Modi, has proclaimed that all 500 and 1000 rupee notes have been taken of their status as legal tender, as his party ...

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Rs 3-4 lakh crore unaccounted money deposited in bank accounts: IT dept

IT dept

Besides, the IT Dept said Rs 25,000 crore worth of cash was deposited in dormant bank accounts. New Delhi: The Income Tax Department suspects that nearly Rs 3-4 lakh crore of uncounted income has been deposited in banks post the demonization drive that began 2 months ago and is scrutinizing ...

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Breakthrough in Muthoot Finance dacoity, 3 nabbed

Muthoot Finance dacoity

The Cyberabad police cracked the on Wednesday. While key persons are still at large, three of their associates were caught near the Karnataka-Maharashtra border. Hyderabad: The Cyberabad police traced the Muthoot Finance dacoity on Wednesday. While key persons are still at hide, 3 of their companions were caught near the ...

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Asia Pacific loans hit three-year low despite Chinese M&A boom


HONG KONG – Syndicated loan volumes in Asia Pacific, apart from Japan, fell for the second successive year slipping to a 3-year low of US$463.8bn in 2016 as slower economic growth and geopolitical instability shortened bank lending despite a surge in M&A activity from China that boosted North Asian loans. ...

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Realty gloom over home loans


The year also saw the launch of segregated home loan products. For instance, SBI launched home loans targeted at government employees and defence personnel Though real estate prices have revised in convinced geographies and home loan rates have fallen by 30-50 basis points (bps) in 2016 from the last year, ...

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SBI adopts a village to make it cashless


Mumbai: India’s largest bank State Bank of India BSE -0.20 % has marched on the gas towards a cashless economy as the banking behemoth has adopted a village in Maharashtra where it will drive all residents to transact digitally. Shirki, a village in Pen Taluka in Maharashtra is now the ...

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