-The Times of India NEW DELHI: The Centre will pursue more mergers in the state-run banking space as the aim is to have a handful of strong and bigger banks of international level, finance minister Arun Jaitley has said. "Today banking is not what it used to be 10-20 years ago... Is it necessary to have 30-32 public sector banks, some of them weak? Obviously not. What will you do with...
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400 benami deals spotted, Rs 530 crore properties seized
-The Times of India NEW DELHI: The income tax department identified more than 400 benami transactions up to May 23 and immovable properties were attached in 40 cases valued at over Rs 530 crore as the authorities stepped up their fight against black money. Sources said 200 other properties were also identified as part of an ambitious crackdown on benami assets. They added that searches were conducted on 10 senior government...
More »Why Aadhaar cannot deliver anything it promises -Anupam Saraph
-The Economic Times Aadhaar came with a lot of promises. They were brought by some of the brightest in India. Aadhaar promises to remove duplicates and ghosts from government databases, deliver subsidies to beneficiaries, collect taxes, provide financial inclusion and eliminate corruption. Here is why it cannot deliver anything it promises. Aadhaar came with a lot of promises. They were brought by some of the brightest in India. Promise 1: Removing Fraud and Duplicates In...
More »Rs 6,000 crore and counting: Windfall from tax on stashed cash after note ban -Dhananjay Mahapatra
-The Times of India NEW DELHI: Vice-chairman of the special investigation team (SIT) on black money, Justice Arijit Pasayat, said on Friday that after demonetisation, the Centre has collected around Rs 6,000 crore as tax on unexplained cash deposits so far, and the amount could go up. Tax authorities sought explanation from individuals, who deposited substantial amount of cash after demonetisation of Rs 500 and Rs 1,000 notes, either in their own...
More »Post-note ban, Rs 35,000 crore cash stash flooded MP banks -Ankur Sirothia
-The Times of India BHOPAL: More than Rs 35,000 crore of stashed cash was pulled out of hidden lockers of corporates and individuals and deposited in 25 major banks within 60 days of demonetisation in Madhya Pradesh, reveal documents accessed by TOI. More than 40% of these accounts are under I-T surveillance, say sources. Money in Pradhan Mantri Jan Dhan Yojana accounts rose by Rs 461 crore after the note ban —...
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