indian banks association

An Unveil Professional Opportunity of Cooperative Banks Audits

Fema / RBI - It was emphasized that the business in cooperative Banks i.e. State cooperative banks and district cooperative banks needs to be conducted in a manner not detrimental to the intents of the depositors and as these entities being Banks are subject to the regulatory provisions of the banking Regulation Act, 1949 (AACS), it is essential that ...

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Back to the Future with #KonaKonaKotak

Fema / RBI - Thanjavur has always fascinated me, in my imagination it was filled with relics of India’s glorious past and gave us an insight of how our ancestors thought, lived and celebrated. Join me now as I take you through all that is great about the present place….Here’s why you should visit Thanjavur....

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Taxation of Cooperative Societies Under Direct & Indirect Tax

Fema / RBI - U/s 2(19) of the Income Tax Act 1961, ‘cooperative society’ means a cooperative society registered under the Cooperative Societies Act, 1912 (2 of 1912), or under any other law for the time being in force in any State for the registration of the cooperative societies....

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Draft guidelines for foreign banks delayed

Fema / RBI - The draft guidelines on how foreign banks can convert themselves into wholly owned subsidiaries of their parents, have been delayed, with the Reserve Bank of India (RBI) awaiting clarity from tax authorities. The guidelines were to be have been relea...

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RBI asked banks to cap bank charges

Fema / RBI - Banks may soon have to cap the charges on basic services such as issuing a draft, remittances or for stop-payment instructions. Faced with a rising number of customer complaints on excessive charges, the Reserve Bank of India (RBI) has asked the Indian Banks’ Association (IBA) to come up with guidelines on what the reasonable charges sh...

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HDFC clarification on Charges for Cash Withdrawals

Fema / RBI - HDFC BANK IMPORTANT NOTICE REVISION OF FEES AND CHARGES – SAVINGS & SALARY ACCOUNTS (EFFECTIVE 01st March 2017) Effective 01st March 2017, cash transaction charges for Savings and Salary accounts are being revised as follows: Sr. No Charge Type Revised charges 1 Number of Cash transactions(Cumulative of Deposit and Withdrawal) 4...

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15 Days Paternity Leave to Bank Employees

Fema / RBI - Male employees with less than two surviving children shall be eligible for 15 days paternity leave during his wife’s confinement and may be availed upto 15 days before or upto 6 months from the date of delivery of the child. ...

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2nd and 4th Saturday of the month will be Bank holiday

Fema / RBI - Discussions were held between the Indian Banks’ Association representing Managements of Banks and  the authorized representatives of Workmen Unions and Officers’ Association, on wage revision for officers in banks on 23.02.2015 at Mumbai. After holding several rounds of discussions. the parties have mutually agreed as under: ...

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IDBI Bank signs MOU with Government of Karnataka at Global Investors Meet 2012

Fema / RBI - IDBI Bank Ltd has entered into a Memorandum of Understanding with the Government of Karnataka (GoK) at the Global Investors Meet (GIM) held at Bangalore. The meet was organized by Government of Karnataka and Karnataka Udyog Mitra. Shri Manogaran Varadaraj Masilamani, General Manager, IDBI Bank and Shri B.S. Sirsikar, Joint Director (Plan...

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Income Tax Dept to investigate if banks helped people hide black money

Fema / RBI - In its pursuit to unearth black money, the Income Tax Department will probe certain banks and their officials suspected to be helping customers hide illicit funds through multiple accounts. We have found instances where banks are running multiple accounts of certain customers for the purpose of hiding black money, a senior official of Cen...

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Recent Posts in "indian banks association"

HDFC clarification on Charges for Cash Withdrawals

HDFC BANK IMPORTANT NOTICE REVISION OF FEES AND CHARGES – SAVINGS & SALARY ACCOUNTS (EFFECTIVE 01st March 2017) Effective 01st March 2017, cash transaction charges for Savings and Salary accounts are being revised as follows: Sr. No Charge Type Revised charges 1 Number of Cash transactions(Cumulative of Deposit and Withdrawal) 4...

Read More
Posted Under: Income Tax |

15 Days Paternity Leave to Bank Employees

Male employees with less than two surviving children shall be eligible for 15 days paternity leave during his wife’s confinement and may be availed upto 15 days before or upto 6 months from the date of delivery of the child. ...

Read More
Posted Under: Income Tax |

An Unveil Professional Opportunity of Cooperative Banks Audits

It was emphasized that the business in cooperative Banks i.e. State cooperative banks and district cooperative banks needs to be conducted in a manner not detrimental to the intents of the depositors and as these entities being Banks are subject to the regulatory provisions of the banking Regulation Act, 1949 (AACS), it is essential that ...

Read More
Posted Under: Income Tax |

Back to the Future with #KonaKonaKotak

Thanjavur has always fascinated me, in my imagination it was filled with relics of India’s glorious past and gave us an insight of how our ancestors thought, lived and celebrated. Join me now as I take you through all that is great about the present place….Here’s why you should visit Thanjavur....

Read More
Posted Under: Income Tax |

2nd and 4th Saturday of the month will be Bank holiday

Discussions were held between the Indian Banks’ Association representing Managements of Banks and  the authorized representatives of Workmen Unions and Officers’ Association, on wage revision for officers in banks on 23.02.2015 at Mumbai. After holding several rounds of discussions. the parties have mutually agreed as under: ...

Read More
Posted Under: Income Tax |

Taxation of Cooperative Societies Under Direct & Indirect Tax

U/s 2(19) of the Income Tax Act 1961, ‘cooperative society’ means a cooperative society registered under the Cooperative Societies Act, 1912 (2 of 1912), or under any other law for the time being in force in any State for the registration of the cooperative societies....

Read More
Posted Under: Income Tax |

IDBI Bank signs MOU with Government of Karnataka at Global Investors Meet 2012

IDBI Bank Ltd has entered into a Memorandum of Understanding with the Government of Karnataka (GoK) at the Global Investors Meet (GIM) held at Bangalore. The meet was organized by Government of Karnataka and Karnataka Udyog Mitra. Shri Manogaran Varadaraj Masilamani, General Manager, IDBI Bank and Shri B.S. Sirsikar, Joint Director (Plan...

Read More
Posted Under: Income Tax |

Income Tax Dept to investigate if banks helped people hide black money

In its pursuit to unearth black money, the Income Tax Department will probe certain banks and their officials suspected to be helping customers hide illicit funds through multiple accounts. We have found instances where banks are running multiple accounts of certain customers for the purpose of hiding black money, a senior official of Cen...

Read More
Posted Under: Income Tax |

India-born Anshu Jain tipped to become Deutsche Bank co-head

BERLIN: Speculation is growing that India-born Anshu Jain may take over as the co-head of Deutsche Bank , Germany's largest private bank, together with Bundesbank President Axel Weber, when the incumbent Josef Ackermann retires in early 2013. ...

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Posted Under: Income Tax |

SBI employees on two-day strike from Nov 25

"Around 2.5 lakh staffers of SBI, including 80,000 officers, will go on a two day strike from November 25 to protest against the new pension scheme and to press for redressal of wage related issues," General Secretary of All India State Bank Officers...

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Posted Under: Income Tax |
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