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Demonetisaton: RBI may have received Rs 15 lakh crore deposits old notes

- Alive Correspondent   05-01-2017

The Reserve Bank (RBI) is may have received deposits close to Rs 15 lakh crore, of estimated Rs 15.4 lakh crore worth junked Rs 500/1,000 currency old notes that were in circulation, from the 50-day demonetisation exercise that ended on December 30.When asked if about Rs 15 lakh crore has come to the system

The government has not rolled back ATM usage charges transaction fees

- Alive correspondent   03-01-2017

In the wake of the cash crunch that has been brought about by demonetisation, customers are reportedly upset that the government has decided against continuing the waiver on ATM usage and debit card transaction fees till the situation is normalised.   Speaking to The Times of India, Naroze Dastur, managing

Withdrawal Limit from ATMs Increased to Rs 4,500 Effective Jan 1

- Alive correspondent   31-12-2016

In a late-night development, cash withdrawal limit from ATMs was increased from Rs 2,500 to Rs 4,500 effective January 1. However, there is no change in the weekly withdrawal limits, which stays at Rs 24,000. RBI said in a statement, "On a review of the position, the daily limit of withdrawal from

Low on cash, don't worry ,Pocket friendly options to ring in the New Year in Mumbai

- Alive Correspondent   30-12-2016

The New Year’s eve is widely celebrated across the globe because it marks the last day of the year and to welcome what is in store in the new year.   If you're a foodie and on a budget this New Year's eve, fret not as

RBI extends small loans repayment window for borrowers to 90 days

- Alive Correspondent   29-12-2016

The Reserve Bank of India extended the small loans repayment window by 30 days, now allowing 90 days for those with housing, car, farm, and other loans worth less than Rs 1 crore. The RBI said in a notification, "On a review, it has been decided to provide 30 days, in addition to

Free Wi-Fi for 200 more railway stations in 2017 says Suresh Prabhu

- Alive Correspondent   27-12-2016

Railways Minister Suresh Prabhu said on monday that 200 more stations and some additional trains would be provided with Wi-Fi in 2017.   Dedicating six Wi-Fi facilities to rail users at Kannur, Ernakulam and Kollam at a function here, he said 100 stations had been fitted with Wi-Fi this year and the target

To push cashless economy, govt to tighten cheque bounce law

- Alive Correspondent   26-12-2016

To clear the path for moving towards a cashless economy, the Modi government is examining a proposal that could lead to harsher punishments for defaulters in cheque bouncing cases.   The suggestion came when the finance ministry mandarins met delegations of traders' associations as part of the pre-budget exercise. The

Digital payments: Government to announce awards on Christmas

- Alive Correspondent   26-12-2016

On christmas Government become a Santa in Kaun Banega Crorepati scheme. yes, Asserting that promoting digital payment is an integral part of the government’s overall strategy to weed out black money and corruption, the NITI Aayog today said the government will launch awards under the Lucky Grahak Yojana

GST Council okays support bills, stuck on dual control

- Alive Correspondent   24-12-2016

New Delhi : The Goods and Services Tax (GST) Council on Friday made "significant headway" in firming up the main draft that the central and state GST laws will be modelled on and drew the contours of the law for compensating states for any revenue loss.   GST Council

With housing scheme Telangana CM transforms 2 villages

- Sanjib Sharma   23-12-2016

On Friday Telangana government under its flagship scheme they stepped into newly constructed two-bed room houses in Siddipet district villages.   Chief Minister K. Chandrasekhar Rao, who adopted these two villages in his Gajwel constituency and vowed to turn them into model villages for the entire country, inaugurated the new

I-T Rs 7 crore seized from cab driver's account in Hyderabad

- Sanjib Sharma   23-12-2016

Income-Tax officials have found Rs 7 crore deposited in a  Uber cab driver’s account in the State Bank of Hyderabad (SBH) in the city. The money was in the old Rs 500 and Rs 1,000 currency notes. I-T official told, toldDuring scrutiny of huge cash deposits in bank accounts after

ED Arrests Hawala Trader Paras Lodha From Delhi

- Sanjib Sharma   22-12-2016

On Thursday The Enforcement Directorate said that it arrested hawala trader Paras Mal Lodha here for converting more than Rs 25 crore in old notes linked to businessman J. Shekhar Reddy and lawyer Rohit Tandon into new currency.   Businessman of Kolkata-based arrested on Wednesday night after hours of questioning by

Govt passes ordinance to facilitate digital transfer of salaries

- Sanjib Sharma   21-12-2016

The Centre on Wednesday decided to bring in an ordinance to amend the Payment of Wages Act for allowing business and industrial establishments to pay salaries through cheques or electronically.     "An additional way of payment has been introduced through this ordinance. The old system of

92-year-old DMK Supremo Karunanidhi Stable After Tracheotomy Procedure

- Sanjib Sharma   17-12-2016

DMK President M. Karunanidhi on Friday underwent tracheotomy procedure to optimise breathing and his condition is now stable, doctors said. The 92-year-old leader, who was re-admitted to Kauvery Hospital Chennai late last night with breathing difficulties due to throat and lung infection, has undergone tracheostomy to optimise breathing, Dr S

In Over 586 Searches, Income-Tax Department Nets For Rs 2,900 Crores

- Sanjib Sharma   16-12-2016

After the announcement of November 8, the income tax department carried out a record 586 searches across the country after which Rs 300 crore in cash seizures, Rs 79 crore in new currency note of Rs 2000 and unaccounted income of Rs 2,600 crore.     Till now, the highest seizure has been from Tamil Nadu

Yahoo reveal over one billon user accounts have been hacked Again

- Sanjib Sharma   16-12-2016

Yahoo is in deep trouble as the company discovered another cyber-security breach, which is believed to have compromised over one billion accounts. For the record, Yahoo’s 2013 hacking makes it the biggest ever data breach given the number of accounts.   The company have revealed that user data including

CM Arvind Kejriwal Lashes At PM Modi, Asks To Make His Educational Degree Public

- Sanjib Sharma   15-12-2016

Delhi Chief Minister Arvind Kejriwal again in his bookmarked instinct of lashing at Prime Minister Narendra Modi asked him to come clean on his educational qualification. He challenged PM to make his degree public.      Addressing reporters at his residence here, Kejriwal alleged that Modi's reluctance to

Bengaluru RBI officer laundered money for 30% cut

- Sanjib Sharma   14-12-2016

BENGALURU: Continuing its crackdown on fraudsters after demonetization, the CBI arrested on Tuesday a Reserve Bank of India employee in Bengaluru on charges of money laundering.   CBI sleuths arrested Michael Kattukaran, a senior special assistant at the RBI's issue department in Bengaluru, and two other persons.&

Government 'stings' corrupt bank officials: Reports

- Sanjib Sharma   13-12-2016

NEW DELHI: The government has reportedly carried out sting operations at several banks to expose corrupt officials who are helping black money hoarders+. According to reports, CDs of these sting operations have been prepared and submitted to the concerned authorities.   Reports say sting operations have been carried out at

Cyrus Mistry Removed As Director Of Tata Industries:Tata Sons Spokesperson

- Sanjib Sharma   12-12-2016

Ousted Chairman of Tata Sons Cyrus Mistry has been removed as director of the Tata industries, said Tata Sons Spokesperson on Monday.   After an Extraordinary General meeting or EGM, Mistry was also removed as the director of the Tata Industries. The holding company of all the Tata Businesses, Tata


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