SEBI to enhance supervision on stock brokers

Last Updated: Tuesday, September 8, 2015, 16:31

The Securities and Exchange board of India (SEBI) is planning to enhance supervision on stock brokers after they defaulted on 20 billion rupees of investor fund.

Govt must build trust for compliance window success: Kidwai

Last Updated: Tuesday, September 1, 2015, 16:25

The government needs to assure against any "witch-hunt" to make the compliance window under the new black money law a success and it's a "pity" that the people do not believe its credibility, HSBC's India head Naina Lal Kidwai has said.

Black money: Swiss banks ask Indians to utilise 'compliance window'

Last Updated: Sunday, August 30, 2015, 18:04

Spooked by the new black money law, a number of Swiss and other European banks have begun asking Indian clients to disclose their accounts to the tax authorities back home as they fear being accused of 'abetting' the hoarding of untaxed assets.

Bank accounts now with 70 crore Indians: Modi

Last Updated: Saturday, August 15, 2015, 09:39

Prime Minister Narendra Modi on Saturday said some 70 crore people untouched by any form of financial inclusion on Saturday had bank accounts, thanks to the scheme he announced exactly a year ago.

All I-T refunds to be put directly in bank accounts: CBDT

Last Updated: Tuesday, June 23, 2015, 16:35

The department is also planning to fully adopt and use banking services to end the current system of sending I-T refunds over the value of Rs 50,000 via cheques through the postal department.

India's push to offer banking for all stumbles on empty accounts

Last Updated: Friday, June 12, 2015, 09:31

More than half of a record 160 million accounts opened in India as part of a drive to offer banking to all are still empty.

Now, Switzerland to publish list of dormant bank accounts

Last Updated: Sunday, May 31, 2015, 15:53

The Ombudsman further said that a new banking law, which has come into force this year, has mandated that "assets over 500 Swiss franc that have been dormant for 50 years, that is 60 years after the last contact, have to be published. "If, following this publication, no justified claims are reported, the assets must be liquidated and their net proceeds will be transferred to the Swiss Confederation.

Court pulls up I-T Dept for withholding info on foreign accounts

Last Updated: Thursday, May 28, 2015, 17:59

A Delhi court on Thursday pulled up the Income Tax (IT) Department for withholding information on foreign bank accounts of those persons against whom it has filed complaints and slapped a fine of Rs 10,000 on it.

Swiss accounts: India seeking details on foreign entities too

Last Updated: Tuesday, May 26, 2015, 23:12

Indian nationals are not the only ones about whom India's tax authorities have sought details from Switzerland as they have also requested for information on some foreign entities, mostly based in tax havens.

Yash Birla has 'no individual account' in his name, says group

Last Updated: Tuesday, May 26, 2015, 20:38

With Yash Birla's name being made public by the Swiss government in relation to an information request from the Indian tax authorities, his business group Tuesday said he has "no individual bank account in his name or under his control".

Swiss move gives enough hints of action to follow: FM

Last Updated: Tuesday, May 26, 2015, 18:52

'Delighted' at Switzerland making public names of some Indians with Swiss accounts, Finance Minister Arun Jaitley on Tuesday said this should provide enough indications of actions to follow for those holding unaccounted assets outside India.

Yash Birla, Gurjit Singh Kochar among seven Indian names made public for Swiss a/c

Last Updated: Tuesday, May 26, 2015, 15:46

The names of these seven "Indian nationals" have been published in Switzerland's Federal Gazette with regard to details sought about them by the Indian authorities.