Standard format for reporting bank fraud cases on anvil

Last Updated: Sunday, June 28, 2015, 15:40

"Information received from the banks are highly unstructured which makes mining of data contained in the statements very difficult. They also use different narrations for debit and credit entries which are sometimes very cryptic in nature, making it difficult to decipher the nature of transactions and hence the money trail," an official said.

Germany`s Schaeuble says eurozone will fight danger of contagion

Last Updated: Sunday, June 28, 2015, 01:53

The eurozone will do all it can to fight the risk of financial contagion from Greece after its creditors refused to extend its bailout, German Finance Minister Wolfgang Schaeuble said Saturday.

Jaitley to skip FMs meet to sign agreement on AIIB in Beijing

Last Updated: Saturday, June 27, 2015, 18:43

The official, however, did not give any reasons for Jaitley skipping the meeting but it may be because of pressing domestic issues.

South Korea unveils $14 bn stimulus package to spur growth

Last Updated: Thursday, June 25, 2015, 11:08

Finance Minister Choi Kyung-Hwan said the extra was crucial because a recovery in Asia`s fourth largest economy hinged on the effectiveness of efforts to quickly contain Middle East Respiratory Syndrome.

Germany`s Schaeuble `not optimistic` for Greece debt deal Wednesday

Last Updated: Thursday, June 25, 2015, 01:16

German Finance Minister Wolfgang Schaeuble said he had little hopes of reaching a long sought-after debt deal with Greece at a meeting of his eurozone counterparts on Wednesday.

Govt notifies new and simplified ITR forms

Last Updated: Tuesday, June 23, 2015, 20:48

The Income Tax department has notified the new set of ITR forms, including a three-page simplified one, for taxpayers to file their returns for assessment year 2015-16.

Private sector investments imperative for growth: Jaitley

Last Updated: Tuesday, June 23, 2015, 14:18

Finance Minister Arun Jaitley on Tuesday told Silicon Valley corporate leaders and investors that for growth to gain traction increase in private sector investments was imperative, even as he cautioned that ease of doing business would need constant monitoring and improvement.

Govt does not intend to legislate retrospectively: FM Jaitley

Last Updated: Sunday, June 21, 2015, 12:58

Jaitley said the government has categorically made it clear that "we do not intend to legislate retrospectively. We do not intend that any fresh action under the old retrospectively laws be taken."

India a bright spot in troubled global economy: FM Jaitley

Last Updated: Sunday, June 21, 2015, 09:26

"In otherwise troubled time of the global economy, India clearly is a bright spot. As a bright spot, our growth rates are improving. Fiscal discipline is under control," he said.

Greece`s Varoufakis wants `clear decision` from Merkel at summit

Last Updated: Saturday, June 20, 2015, 22:10

Greece`s Finance Minister Yanis Varoufakis said German Chancellor Angela Merkel must make a clear decision at a eurozone summit Monday on whether to negotiate a rescue deal with Athens or heed populist calls to jettison the debt-wracked country.

Next 2-3 years 'very critical' for economic reforms: FM Jaitley

Last Updated: Friday, June 19, 2015, 10:28

Jaitley, who is on a 10-day trip to the US, said the macro-economic indicators and "bare statistics" look good but the aspirations are much higher.

India's economic growth potential higher than 7-7.5%: FM Jaitley

Last Updated: Friday, June 19, 2015, 08:48

Finance Minister Arun Jaitley said on Thursday that economic reforms in the legislative pipeline can push India`s growth rate above the 7 to 7.5 percent range.