TRANSACTIONS

  • SBI accounts for half of mobile transactions in June: RBI September 18, 2014

    Mumbai: State Bank of India accounted for half of the total number of mobile transactions undertaken in June, while ICICI Bank became the first to surpass the Rs 1,000crore mark albeit with only a fifth of the registered users as the country's largest lender. State Bank of India's (SBI) account holders...
  • RBI reduces free crossbank ATM transactions to 3 per month in metros August 14, 2014

    New Delhi: The Reserve Bank of India reduced free usage of other bank automated teller machines (ATMs) to three per month from five as the number of such machines has increased to 160,000 by Marchend from 27,000 seven years earlier, it said on Thursday. The reduction will, however, not be applicable...
  • 2G: Not involved in Rs 200 crore transaction, claims A Raja June 5, 2014

    Former Telecom Minister A Raja, an accused in a 2G scamrelated money laundering case, on Thursday told a special court that he was not involved in the Rs 200 crore transaction, which as per the Enforcement Directorate (ED) was a bribe given to DMKrun Kalaignar TV by DB Group company. Arguing...
  • Jan Lokpal Bill: Soli Sorabjee backs AAP government's stand February 8, 2014

    New Delhi: Eminent lawyer Soli Sorabjee on Saturday backed the Delhi government's stand that there was no need to take the prior consent of the Centre before introduction of its Jan Lokpal Bill in the Assembly, which it plans to do next week. In his opinion given to the Delhi government...
  • May support Congress if it accepts banking transaction tax, says Ramdev January 20, 2014

    New Delhi: Yoga guru Ramdev said he may support the Congress in the upcoming Lok Sabha elections provided the party supports his proposal to replace all taxes with single tax on banking transactions. "If Congress accepts our proposal of single window taxation and single tax we will support it... We give...
  • Pay more for safety, banks may raise ATM cost by Rs 6 per transaction December 7, 2013

    Mumbai: ATM usage is likely to get costlier as banks are planning to hike ATM charges by Rs 6 per transaction. The proposal to hike charges comes after a few state governments asked banks to tighten security at ATMs following the brutal assault of a customer inside an ATM in...
  • ATM may hike charges by Rs 6 per transaction December 6, 2013

    Mumbai: The ATM usage could get costlier as the banks may hike ATM charges by Rs 6 per transaction, according to CNBCTV18. The proposal came after a customer was attacked inside an ATM in Bangalore and state government has stepped up the pressure on bank to improve security in ATM. A...
  • Woman kingpin, husband send to custody in illegal moneytrail November 16, 2013

    The woman 'kingpin' of an illegal money transaction racket with a Pakistani link, arrested from Karnataka with husband, were on Saturday sent to judicial custody by a district court in Lakhisarai. Chief Judicial Magistrate Amar Jyoti Shrivastava remanded the couple to 14 days judicial custody. The woman was arrested on the basis...
  • Only 3.6 per cent Indian households undertake cashless transactions September 7, 2013

    New Delhi: Just 3.6 per cent households in the country undertake cashless transactions, although the government and the Reserve Bank have been taking steps to promote e-payment channels, says a report. It cited poor acceptance of cards by sellers and lack of awareness about cashless systems/options as the two main reasons...
  • Coimbatore: Nearly Rs 59 lakh of 'Hawala money' recovered from 52-year old man September 4, 2013

    Nearly Rs 59 lakh was seized from a person who got down in Coimbatore from a bus coming from Chennai in the wee hours of Tuesday. Based on tip off, police kept vigil in the Thiruvallur Bus Stand and searched the baggage of 52-year old Abubacker and found the money,...
  • Etrip system becoming bone of contention between SAD and BJP July 30, 2013

    The etrip system introduced by Punjab government to bring transparency in transactions by traders and check tax evasion has become a bone of contention between allies SAD and BJP, which feels it might affect its vote bank in urban areas. Punjab BJP brass led by party incharge for state affairs Shanta...
  • AP: Three members of white collar criminal gang arrested May 22, 2013

    Hyderabad: Three members of an interstate white collar criminal gang who allegedly indulged in fraudulent transactions worth over Rs 3 crore from across the country, including the national capital, were arrested on Tuesday, the police said. The accused, including Anshul Thapar from Ludhiana, K Govardhan from Chitoor in Andhra Pradesh...
  • Cases of terror funding have increased by 300 per cent: Report February 25, 2013

    New Delhi: A Finance Ministry report has come out with shocking details about terror funding just a few days after the Hyderabad bomb blasts. According to the report terror funding has gone up by 300 per cent in the last one year while cases of hawala transaction and fake currency...
  • Brokers request Finance Minister to rejig STT February 19, 2013

    Mumbai: It's Budget month and just like last year, this year too, speculation is rife about the fate of the controversial Securities Transaction Tax (STT). At their end, capital market participants want the Finance Minister to have a relook at the rate of STT to begin with. Single page advertisements...
  • FTN: Are benami transactions bedrock of electoral politics? September 11, 2012

    An exhaustive survey done by association for democratic reforms which shows how political parties are consistently increasing their wealth. ...
  • ICICI Bank planning to allow transactions via Facebook September 5, 2012

    Hyderabad: Third largest lender ICICI Bank today said it is working towards allowing its customers to make transactions through social networking site Facebook. The Mumbaibased bank's chief technology officer Mukesh Kumar Jain said the bank has Facebook likes close to 8 lakh and claimed that ICICI is the only bank...
  • Budget 2012: Government cuts STT to 0.1 pc March 16, 2012

    New Delhi: The Government on Friday lowered the securities transaction tax (STT) to 0.1 per cent, a move that will bring down costs of equity transactions. STT, which was introduced in 2004, is levied on the sale and purchase of equities. "In order to reduce transaction costs in the capital markets,...
  • Stock exchanges for abolition of STT in Budget February 7, 2012

    New Delhi: Stock exchanges on Tuesday pitched for abolition of the Securities Transaction Tax (STT) on equity trades at their meeting with Finance Ministry officials in New Delhi. The issue of removal of STT was raised by representatives of different stock exchanges, including BSE, National Stock Exchange, MCXSX and USE. Besides,...
  • Terror, crime funds trickling in casinos: Report January 22, 2012

    New Delhi: Indicating signs of possible funds related to crime and terror trickling into the Indian casino sector, a government report has said that more than 7,000 instances of suspicious transactions have been detected in the elite gaming business during the last financial year. A total of 7,006 Suspicious Transaction Reports...
  • Goa polls: EC starts monitoring money transactions January 17, 2012

    Panaji: Election Commission of India's Goa office on Monday began monitoring of money transactions through banks. Chief Electoral Officer S Kumarswamy told on Monday that any transaction above Rs 2.5 lakh through the bank would be monitored. Flying squads will apprehend the...
  • 'No. of users transacting online to be 39 mn by 2015' November 28, 2011

    New Delhi: As Internet penetration is increasing and ecommerce becoming more secure, the number of people transacting online is expected to touch 39 million by 2015, says a study. According to the study by financial services firm Avendus, this will also provide a further fillip to the Indian ecommerce market which...
  • Wikileaks' Visa payments suspended December 7, 2010

    London: In yet another blow to WikiLeaks, Visa Europe on Tuesday said it has begun suspending payments to the whistleblowing website ahead of carrying out an investigation into the organisation. Visa is the latest company to cut its links with Wikileaks, following online payment firm PayPal. It cut off the account...
  • Stockbrokers disappointed with Union Budget July 6, 2009

    Mumbai: Stock Brokers on Monday expressed disappointment over absence of relief on Corporate tax and Security Transaction tax (STT) in the Union Budget, tabled by finance minister Pranab Mukherjee in Parliament. The Sensex crossed the 15k level minutes after the trading started on expectations of lowering of Security Transaction Tax and...
  • Income tax limits raised; farmers, exporters get sops July 6, 2009

    New Delhi: Promising to halve poverty by 2014 and add 1.2 crore jobs each year, Finance Minister Pranab Mukherjee presented India's budget for this fiscal that hikes income tax exemption limit and steps up allocations for welfare schemes and infrastructure, while assuring high growth for the $1.2 trillion economy once...
  • Govt considers tax reforms to ease market, STT may go June 9, 2009

    Mumbai: The tax on transactions in the share market could be done away with in this budget. It's part of a series of capital market reforms the Finance Ministry is considering. If the Securities Transaction Tax (STT) is removed, India will be one of the cheapest markets in the...
  • Watch: New Budget to waive off transaction tax? June 9, 2009

    The tax on transactions in the share market could be done away with in this years budget. It's part of a series of capital market reforms the Finance Ministry is considering. If the Securities Transaction Tax is removed, India will be one of the cheapest markets in the world for...
  • Raju diverted Satyam funds to buy 147 benami firms January 25, 2009

    New Delhi: In a crucial breakthrough in the Satyam case, the CID now has details of Raju's alleged benami land transactions. The CID allegedly got a confession out of V Gopala Krishna Raju, a trusted aide of the now infamous Raju family. Reports suggest that G K Raju also handled B Ramalinga...
  • 7 tactics that make you poorer and the bank richer October 13, 2008

    During a cash crunch, many companies look for ways to make an extra buck. Private sector banks, for instance, have introduced a slew of new charges. And like always, the changes are subtle and you will never know about them until you find a debit to your account that you...
  • What made IT officials raid brokers June 19, 2007

    Mumbai: The Income Tax department on Tuesday conducted nationwide raids targeting commodity exchanges and brokers in 24 cities. They searched commodity exchanges that were involved in huge transactions in gold trading. ...
  • PC to retain tax on cash withdrawals February 11, 2007

    New Delhi: The controversial Banking Cash Transaction Tax, which makes noncorporate entities to pay 0.01 per cent tax on all cash withdrawals above Rs 25,000 from current accounts on a single day and subjects corporates to the levy if they withdraw more than Rs 1,00,000 in a day from current...