Free Press Journal
  • Only 7% rise in transactions through cards post note ban

    New Delhi : Transactions through debit and credit cards rose by merely seven per cent post demonetisation, as against a surge of over 23 per cent in overall digital transactions, top government officials told a parliamentary panel.  Officials from various ministries gave a presentation to the Parliamentary Standing Committee on Finance on ‘Demonetisation and Transformation towards Digital Economy’.

  • BSE warns brokers on unauthorised trades    

     Mumbai : Noticing an increasing tendency among some brokers to place unauthorised orders on behalf of clients, premier bourse BSE has asked them to exercise extra caution and do due diligence while executing trades.   “…it has been gathered that there have been growing instances of placing unauthorised orders, on behalf of clients…the trading members are hereby advised to exercise extra caution and due-diligence at their end while executing trades on behalf of

  • SBI Card slashes fuel surcharge to 1 per cent

    New Delhi: SBI Card, with over 4 million customers, today slashed fuel surcharge to 1 per cent from 2.5 per cent in line with overall reduction affected by oil marketing companies to promote digital transactions.  “Consequent to the revision in fuel surcharge levy on credit card payments from 2.5 per cent to 1 per cent, fuel surcharge waiver on your SBI Card has been revised to 1 per cent w.e.f April 26,”

  • Bhopal: Businessman want bank transaction charges to go

    BHOPAL: Businessmen have demanded to abolish the banking charge on transactions stating it was not favourable for the market which had already been affected due to demonetisation.

  • Banks rush to buy cyber security cover as digi payments rise

    Mumbai : At a time when cyber threats are on the rise for banks for increasing cashless transactions and effects of demonetisation, insurers see rise in demand for cyber insurance and cyber liability insurance, in particular.

  • Bhopal: Mallaiya deposits Rs 1.5 lakh in old notes, Sarang sends info to Amit Shah

    BHOPAL: The leaders of the Bharatiya Janata Party (BJP) have begun sending information about transactions in their bank accounts to their party national president Amit Shah. Cooperatives minister Vishwas Sarang on Thursday sent information of status of his bank account from November 8 to December 28 to Shah. Sarang said he would send information of his account from December 28 to December 31, to Shah on January 1.

  • Panel throws cold water on immediate digitisation

    While the RBI was vehemently opposed to an independent regulator for the digital payments, the Watal committee chose to play safe, suggesting that the current board for regulation and supervision of payment and settlement systems within the RBI should be given an independent status “which it today lacks by being a subcommittee of the central board of the RBI.” (more…)

  • No intention of govt to impose long-term capital gains tax: FM

    New Delhi : To assuage market fears, Finance Minister Arun Jaitley on Sunday said that there is no move to impose long-term capital gains tax on share transactions, an issue investors are hugely touchy about.

  • Bhopal: People tighten purse string, fire domestic helps, slash pocket money of kids

    BHOPAL: The ongoing discussions about demonetisation have now been replaced by discussions about going cashless and how to do transactions and save cash. Since last one month, Prime Minister Narendra Modi kept people busy with queuing up in banks and exchanging old notes and now people are busy in discovering ideas to save cash and money. From cutting down pocket money of their kids to reducing domestic help, people are doing whatever

  • People of India united to fight black money: BJP on Demonetisation

    Mumbai: Acknowledging the temporary inconvenience being caused to the general public by the government’s demonetisation announcement, the Bharatiya Janata Party (BJP), however, said national interest is more important at the present time, and by and large, the people were in support of this initiative to end black money transactions.

  • HSBC to halve branches in India as customers go digital

    Mumbai : British lender HSBC announced a consolidation exercise under which it will almost halve its branches in the country to 26 as customers shift to digital alternatives for their banking transactions.

  • Small loans soon virtually at your fingertips

    New Delhi : Your mobile wallet, which has been serving your need for instant cash in an electronic form for sundry transactions, will also empower you further with companies in the business planning to add an instant loan facility to their offerings.

  • Mandatory PAN: Jewellers’ claim biz turnover has dropped by 30%

    Mumbai :  Over 300 jewellery trader associations across the country on Wednesday went on a day-long strike to protest against the government’s move that makes PAN card mandatory for transactions worth Rs 2 lakh and above.

  • Jewellers to observe strike against mandatory PAN card proof

    New Delhi: Jewellers across the country will observe a nationwide strike tomorrow against the government’s decision to make PAN card mandatory for transactions worth Rs 2 lakh and above. From January 1, PAN Card has been made mandatory for all transactions above Rs 2 lakh in cash or through card in entire gems and jewellery sector. Over 300 associations of jewellery trade with over 100,000 shops across the country will observe a day-long

  • Accused firms got 742.58 crore from Aircel-Maxis deal

    New Delhi :  The Enforcement Directorate on Saturday told the special 2G court that there were money transactions which allegedly showed that Sun Direct TV Pvt Ltd (SDTPL) and South Asia FM Ltd (SAFL) received Rs 742.58 crore as “proceeds of crime” from Mauritius-based firms in Aircel-Maxis deal related money laundering case.

  • New reporting norms for high value transactions from April

    New Delhi : In order to check black money, the CBDT has notified norms under which cash receipts and high value transactions beyond a certain threshold will have to be reported to the Income Tax authorities with effect from April 1, reports PTI.

  • Rel Cap buys 6.82% stake in Saregama

    New Delhi : Financial services major Reliance Capital acquired 6.82 per cent stake in popular music publishing label Saregama India for Rs 43.17 crore through open market transactions.