Unaccounted wealth is now in the banking system thanks to demonetisation. Publicly available data shows how different routes were used to bring the money in
Using an online wallet for investing is not an easy task. Monitoring your investments in MF using wallets can be a cumbersome activity for many.
When banks use the term â€œtransaction‘, only transactions initiated by you (transaction through Debit Card, New Banking) or a third party are taken into account.
The start of a new year gives us a psychological chance to make a new beginning. The belief that we can make a fresh start is very powerful and goes back in time.
The Pradhan Mantri Garib Kalyan Yojana (PMGKY) provides for 50 percent tax and surcharge on declarations of unaccounted cash deposited in banks. Declarants also have to park a quarter of the total sum in a non-interest bearing deposit for four years.
Our numbers are at 2 billion transactions this year, which in turn will enable us to become really the transaction layer on top of every bank account," Paytm Founder and CEO Vijay Shekhar Sharma
Here are some interesting things you can do with your money that has gone into bank.
Warning people against depositing their unaccounted old currency in someone else's bank account, the tax department has decided to slap charges under the newly enforced Benami Transactions Act against violators that carries a penalty, prosecution and rigorous jail term of a maximum seven years.
Watch the interview of Kusal Roy, Sr General Manager, ICICI Bank and Deepak Chandnani, CEO, Worldline South Asia and Middle East with Surabhi Upadhyay on CNBC-TV18, in which they shared their views on how to protect from unauthorised transactions.
Under the proposed move that may take a couple of months to come into effect, the market intermediaries - be it brokerage firms, mutual funds or any other Sebi-registered entity - would rather be allowed to use KYC checks conducted by the bank with which the investor has got an account.
Employees Provident Fund Organisation (EPFO) has sealed the bank accounts of 636 organisations and attached the properties of seven others for alleged irregularities in paying their employees' PF contribution in Madhya Pradesh.
"Under Incentive Refund Scheme, up to 10 percent of the administrative charges will be paid back to employers on meeting certain conditions. The scheme will be operational for one year till December 31, 2016," an official told PTI.
State-run NTPC today said that Supreme Court has asked Madhya Pradesh Commercial Tax Authority to withdraw attachment of company's Vindhyachal Super Thermal Power Station's banks accounts.
Saving allows you to preserve your money by keeping it in safe custody. Investing allows you to grow your money, though it comes with some risk.
In a CNBC-TV18 panel interview, a number of star speakers came together to discuss what India is and can do to push financial inclusion through the digital revolution.
In a brief statement in Arabic, Aramco said: "The attempted fraud has been foiled and did not have any financial impact on either the two companies or on trading relations between them."
In a second set of clarifications in question-answer format, the government also relaxed conditions for those who cannot get bank statements of their foreign accounts by saying it would accept their "best estimate" declarations with a rider that penalty would follow if disclosures were not complete.
This came after the Narendra Modi government notified new set of Income Tax Return forms for assessment year 2015-16 and also proposed income tax benefits for individuals who make payments through debit and credit cards.
More than half of a record 160 million accounts opened in India as part of a drive to offer banking to all are still empty, illustrating the massive task ahead for one of the government's most high-profile campaigns and the strain on banks.
Smart Payment Solutions, a 100 percent subsidiary of Payworld, has applied for a payment bank licence to further strengthen its presence in digital payment space and domestic money remittance segment.
The Securities and Exchange Board of India (Sebi) found that Parivar Dairies and Allied was running 'collective investment schemes (CIS)' without obtaining registration from the regulator.
Suggestions can be given on www.mygov.in even as 8.39 crore accounts have been opened under the scheme as on December 1.
There have been a lot of deliberations on working out the right delivery model for financial inclusion so that each Indian has access to a bank account. How can we create a low cost delivery model so as to bring the unbanked into the banking fold?
Married couples are often seeing arguing over financial matters. This can be challenging as two different people brought up in different financial conditions would behave in different way related to money.
Prime Minister Narendra Modi has launched an ambitious plan to streamline a bloated and inefficient welfare system by paying for everything from cooking gas to university stipends via a bank account, in a bid to save billions of dollars a year.