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State Bank of India (SBI) is considering the merger of all five of its remaining associate banks with itself, having amalgamated with two of them in the last two years. It (merger of other associate banks) is in my mind, but we have to see,
Union Finance Minister Pranab Mukherjee on Wednesday said the estimates of 8.8 per cent GDP growth released on Tuesday could be revised if inaccuracies are found in computation.
Fraudulent home loan seekers and habitual defaulters will have a tough time now as lenders have a ready pool of information available on them, with the launch of the country”s first electronic centralised database of mortgage information called Cibil Mortgage Check. Cibil Mortgage Check would help banks and financial institutions share and access mortgage information, exercise better due diligence, and thus help reduce fraudulent property transactions.
Advanced economies must pursue long-term policy reforms to reduce public debt levels over the coming decades and ensure future fiscal sustainability, according to three papers published today by the International Monetary Fund (IMF). In order to protect the fragile economic recovery, support growth and job creation and provide reassurance to capital markets, fiscal adjustment plans must be clearly defined—but with a focus on the medium term rather than seeking a quick fix.
Corruption in the corporate world, the ones like the Satyam scam that shook the Indian corporate sector, cannot be eliminated using any accounting standards nor by an accountant as it happens due to the greed of the people at the helm and not due to any procedure, ICAI President Amarjit Chopra said today.
In a move aimed at increasing its share of current and savings account (CASA) deposits, IDBI has done away with the concept of minimum balance on these accounts and has waived off most service charges except those pertaining to bounced cheques.
Union Finance Minister, Shri Pranab Mukherjee has asked the insurance companies to create awareness among the poor and vulnerable section of the society especially the people living in rural areas so that they can avail the benefits of financial services. He further said that they may be informed about the benefits of the life insurance and insurance against natural calamities.
The United States says it’s trying to understand the potential impact of a steep hike in US worker visa fees on Indian companies, but no new step has been taken yet to ease Indian concerns. I think we have been explaining to the Indian government the specifics in the legislation, and trying to understand the potential impact on Indian companies,
Consequent upon examination of Representations received from organizations working for the welfare of the children with disabilities and minority institutions, a decision was taken to carry out certain amendments to the Right of Children to Free and compulsory Education (RTE) Act, 2009. Accordingly, the Right of Children to Free and Compulsory Education (Amendment) Bill, 2010 was introduced in the Rajya Sabha on 16th April, 2010 incorporating the following amendments to the RTE Act.
Amid reported differences between the ministries of labour and finance, the former today asserted that the decision of EPFO trustees would be “final and supreme” on whether a portion of Rs 5 lakh crore of provident funds should be invested in stock markets.
