• SBI to penalise non maintenance of Monthly Average Balance in accounts from 1st of April
SBI to penalise non maintenance of Monthly Average Balance in accounts from 1st of April.
6 Mar, 2017. \\ Business.

State Bank of India has decided to reintroduce penalty on non-maintenance of minimum balance in accounts from 1st of next month. Failing to maintain monthly average balance in accounts will attract ...

  • HDFC, ICICI, Axis to charge Rs 150 after four cash transactions
HDFC, ICICI, Axis to charge Rs 150 after four cash transactions.
3 Mar, 2017. \\ Business.

India's leading private banks HDFC, ICICI and Axis Bank have decided to charge a minimum amount of 150 Rupees on cash withdrawal and beyond four transactions in a month. The move was seen aimed at dis......

  • Govt launches new income declaration scheme 'Pradhan Mantri Garib Kalyan Yojana'
Govt launches new income declaration scheme 'Pradhan Mantri Garib Kalyan Yojana'.
17 Dec, 2016. \\ National.

The Pradhan Mantri Garib Kalyan Yojana (PMGKY) comes into effect today. Any unaccounted cash or deposit in a bank account can be disclosed under the scheme before April 1, 2017. The PMKGY provides for...

  •  Demonetisation: 50% tax penalty for disclosing unaccounted deposit, 4-year lock-in
Demonetisation: 50% tax penalty for disclosing unaccounted deposit, 4-year lock-in.
26 Nov, 2016. \\ Assam Trending.

A minimum of 50 percent tax may be levied on unexplained bank deposits made using the banned currency notes up to 30 December along with a 4-year lock in period for half of the remaining amount under ......

  • Customer PAN must for deposit exceeding Rs 50,000: Reserve bank
Customer PAN must for deposit exceeding Rs 50,000: Reserve bank.
17 Nov, 2016. \\ Business.

In the wake of demonetisation of high-value currency, the Reserve bank of India (RBI) has asked banks to ensure that customers submit a copy of permanent account number (PAN) card for any cash deposit...

  • Deposits above Rs 2.5 lakh to invite penalty on income mismatch
Deposits above Rs 2.5 lakh to invite penalty on income mismatch.
10 Nov, 2016. \\ Assam Trending.

The Government has warned that the cash deposits above 2 lakh 50 thousands rupees threshold under the 50-day window can attract tax plus a 200 percent penalty in case of income mismatch, said Revenue ......

  • Banking operations hit in Assam due to strike
Banking operations hit in Assam due to strike.
29 Jul, 2016. \\ Business.

Banking operations across the country were hit on Friday, with 10 lakh employees of 40 private and state-run banks striking work. In Guwahati and other parts of Assam, banking services were hit as som...