-The Times of India MUMBAI: A few cooperative banks, mostly in rural areas, have found a new way to bypass banking system norms put in place by the government to fight the black money menace. Since PM Narendra Modi launched the demonetisation drive on November 8, these cooperative banks, which are yet to be computerised and still use physical ledger books, are taking cash from customers and opening backdated fixed deposits...

-The Times of India BANGALORE: Holders of fixed deposits have been earning a negative return in real terms for most of the preceding five years, thanks to inflation outstripping interest rates. To make matters worse, depositors continue to be taxed on this nominal income. Although bank fixed deposits have never been tax friendly, the level of compliance has been sketchy. But compliance is slowly getting stricter. In the past, RBI norms required banks...

-Express News Service   On Tuesday, Prime Minister Manmohan Singh directed his cabinet colleagues to update details of their business interests, assets and liabilities. In the first such exercise last year, only two cabinet ministers had explicitly declared their interests in private companies — Urban Development Minister Kamal Nath and Corporate Affairs Minister Murli Deora. Kamal Nath mentioned 23 companies in which either he or his family have a “business interest”. Deora...