Finance News

TMB failed to file details of Rs 3,610 cr deals due to tech glitch: sources After the income tax department indicated that the Tamilnad Mercantile Bank (TMB) did not provide the complete details of transactions worth up to Rs 3,610 crore, sources told Business Standard that this was due to a technical glitch. The bank has now submitted all ...

SBI launches 34 Transaction Banking hubs nationwide to drive growth Dinesh Khara, the chairman of the SBI, inaugurated the hubs, on the occasion of the 68th foundation day of the bank. State Bank of India, on Saturday, launched 34 Transaction Banking Hubs at 21 district centres across the country with an aim to provide quick and efficient Transaction Banking ...

Congress-led Shimla Municipal House approves 4% increase in house tax The Congress-led Shimla Municipal Corporation (SMC) on Saturday approved a four per cent increase in house tax amid protest by the BJP councillors. The proposal was supported by Congress members in a meeting of the SMC House and they said hiking the house tax was mandatory to get ...

GST added to revenue buoyancy, helped bring down taxes for common man: FM Finance Minister Nirmala Sitharaman on Saturday said Goods and Services Tax (GST) has helped bring down the taxes for consumers by removing the cascading effect of ‘tax-on-tax’ and added to the revenue buoyancy of states. She said the GST system has seen massive scaling up ...

PSBs profit tripled to Rs 1.04 trn in 9 yrs; need to continue momentum: FM Finance Minister Nirmala Sitharaman on Saturday said the public sector banks’ profit in the last nine years has tripled to Rs 1.04 lakh crore due to initiatives taken by the government and underlined the need for continuing the momentum to fuel economy. The ...

GST officers bust 304 syndicates involving Rs 25k cr fake ITC claims Currently, 1.39 lakh businesses are registered under GST, launched 6 years ago on July 1, 2017 (Imaging: Ajay Mohanty) GST officers have busted 304 syndicates involving 9,000 fake GSTINs and input tax credit (ITC) claims of Rs 25,000 crore in the ongoing drive against bogus firms, CBIC ...

UPI transactions down marginally by 1% in June to Rs 14.7 trillion Transactions under the Unified Payment Interface (UPI) have seen a marginal dip of 1 per cent to Rs 14.75 trillion in June compared to Rs 14.89 trillion in May this year. In terms of volume too, there was a dip in transactions from 9.41 billion in May ...

SC to decide if resolution professionals can be tried under Corruption Act The Supreme Court has sought a response from the CBI on a plea against a Jharkhand High Court order that a resolution professional appointed under the Insolvency and Bankruptcy Code is a ‘public servant’ and can be tried under the Prevention of Corruption Act. A SC ...

Paytm partners with Shriram Finance to strengthen its loan distribution biz One97 Communications Ltd, the parent company of Paytm, on Friday, entered into a strategic partnership with retail non-banking finance major Shriram Finance to offer financial services to its users, including loan products. Now, Shriram Finance products will be available on Paytm’s platform, through which the digital platform ...

SBI’s chief financial officer Charanjit Surinder Singh Attra resigns In another filing, the country’s largest lender informed about appointment of four director on the bank’s central board for a period of three years. (Photo: Bloomberg) State Bank of India (SBI) on Monday said its Chief Financial Officer Charanjit Surinder Singh Attra has put in his papers. “… we ...