FOREIGN BANKS

  • SC asks Centre to ensure completion of Income Tax probe into black money case by March 31 December 3, 2014

    New Delhi: The Supreme Court on Wednesday asked the Centre to ensure that the ongoing Income Tax probe for suspected black money concerning 627 Indians who have accounts in HSBC bank, Geneva, be completed by March next year. The apex court directed the Special Investigation Team (SIT) probing the black...
  • Black money: Supreme Court raps Centre, demands all names by tomorrow October 28, 2014

    New Delhi: Taking a tough stand on the black money case, the Supreme Court on Tuesday directed the Central Government to disclose the names of all the account holders by Wednesday. The Supreme Court pulled up the Centre for seeking modification of its order on black money on disclosing names of...
  • Opening account in foreign bank is not crime: Attorney General Mukul Rohatgi October 17, 2014

    New Delhi: With the Modi government facing the arduous task of fulfilling its promise of getting back black money stashed abroad, Attorney General Mukul Rohatgi today said all amounts deposited in foreign banks by Indian citizens can't be termed as black money and that it is not a crime to...
  • SIT will identify target areas for recovery of black money: sources June 2, 2014

    New Delhi: The Special Investigation Team on black money will meet shortly to decide its future course of action after its first meet on Monday. ...
  • Info requests beyond tax pact cannot be entertained: Swiss government May 8, 2014

    New Delhi: With India stepping up pressure for data on alleged illicit funds parked in Swiss banks, Switzerland has asserted that it cannot positively respond to requests which are beyond the ambit of bilateral tax treaty. Reiterating that it is committed to fighting tax evasion, Switzerland also said both nations should...
  • SC requests retired judge to head SIT probing black money case May 1, 2014

    New Delhi: The Supreme Court on Thursday requested its former judge, Justice MB Shah to head the Special Investigation Team probing the black money stashed away in foreign banks. The apex court has also asked former judge Arijit Pasayat to take over the as the Vice Chairman of the courtappointed...
  • Money laundering investigation should be done by ED: Aniruddha Bahal June 21, 2013

    Successive Cobrapost investigations has shown private and nationalised Indian banks as well as foreign banks flouting RBI rules and regulations. How can the banking industry be streamlined? Aniruddha Bahal, editorinchief of Cobrapost.com, joined IBNLive readers for an interaction on the matter. Q. At present all the know your customer is only...
  • Aadhar will bring transparency in the banking sector: Latha Venketesh June 20, 2013

    With successive Cobrapost sting operations revealing widespread violation of RBI guidelines and rules by stateowned banks, private Indian banks and even foreign banks, how can the system be streamlined so that the banks tow the line? CNBCTV18's banking editor Latha Venkatesh joined IBNLive readers for an interaction on the issue. Q....
  • Russia bans foreign banks from opening branches March 16, 2013

    Moscow: Russian President Vladimir Putin has signed a law banning foreign banks from opening branches in the country, the government website said. The bill was adopted by the State Duma February 22, 2013, and approved by the Federation Council March 6, 2013. The bill amends a number of existing Russian banking laws...
  • Private, public sector banks on strike on Tuesday December 17, 2012

    Mumbai: Around 700,000 employees and officers of the public sector, private sector and foreign banks will strike work all over India on Thursday, an official said in Mumbai on Monday. Work in 27 public sector banks, 12 old generation private sector banks and eight foreign banks shall come to a...
  • RBI widens StanChart, HSBC probe to other banks August 26, 2012

    New Delhi: The Reserve Bank has widened its probe into the affairs of British banking giants HSBC and Standard Chartered to a host of other foreign banks for alleged breach of controls against money laundering and terror financing. Besides, capital market regulator Sebi may also join the investigations, as there are...
  • 'Foreign banks should play a role India's development' July 22, 2012

    Mumbai: Reserve Bank Deputy Governor KC Chakrabarty on Saturday said MNC banks must play their roles in the nation's development. "You (foreign banks) must participate in the development process of the country if you (foreign) want to think big," Chakrabarty said. Speaking to reporters on the...
  • IT may get to reopen returns beyond 6 years February 20, 2012

    New Delhi: Government may grant the Income Tax department powers to reopen tax returns of beyond six years in specific cases of black money where "foreign assets" are involved. The IT department needs these powers to pursue the ongoing cases where funds were found to be stashed abroad and these came...
  • Govt files affidavit in SC on black money in banks May 2, 2009

    New Delhi: Government on Saturday filed an affidavit in the Supreme Court on the action taken by it on the issue of black money stashed in foreign banks. The affidavit was filed in response to a PIL filed by former law minister and eminent jurist Ram Jethmalani and five others who...
  • Foreign banks to charge 30 per cent interest :SC September 9, 2008

    New Delhi: If you are credit card holder of a foreign bank be prepared to shell out 30 per cent or rate of interest annually. And this time the Supreme Court is on the banks side. The apex court has over turned an earlier order by a consumer court, which...
  • Foreign banks move SC on interest rates on credit cards September 8, 2008

    New Delhi: A group of foreign banks, which have been restrained by a consumer court from charging an interest of over 30 per cent a year from credit card holders, on Monday said they are free to decide interest rate on credit card dues. Challenging the consumer court's judgement in the...