A man who had gone to withdraw money at an ATM in Sangam Vihar in New Delhi allegedly ended up getting four notes of Rs 2,000 with “Children Bank Of India” written on them, police said on Wednesday. Rohit Kumar, a customer care executive, had gone to withdraw cash from the State Bank of India ATM in Sangam Vihar on February 6. He got four notes of Rs 2,000 which had “churan” label on them in place of the official watermark. The notes also had “PK” written on ... Rediff.com, 3 hours ago
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The Bharat Interface For Money app was launched on the iOS platform earlier this month. It is also available on the more popular Android platform. There have been over 17 million downloads of the BHIM app so far. Image: Prime Minister Narendra Modi launching the mobile app ‘BHIM’ at the DigiDhan Mela, in New Delhi on December 30, 2016. Union Minister for Electronics & Information Technology and Law & Justice Ravi Shankar Prasad and Minister of State for Electronics ...Rediff.com, 8 hours ago
Don't threaten, warn or issue show cause notice to taxpayers under Operation Clean Money, CBDT tells taxman
The department had sent SMSes and emails to 18 lakh people who made suspicious deposits of over Rs 500,000 during the 50-day demonetisation period. The CBDT on Tuesday asked the taxman to ensure there is no "threat, warning or show cause" notice to taxpayers contacted by it under 'Operation Clean Money' that is aimed at checking black money post-note ban. The Central Board of Direct Taxes (CBDT), the policy-making body of the Income Tax department, brought out an eight-page instruction leaflet ...Rediff.com, 23 hours ago 900,000 accounts under Operation Clean Money 'doubtful' Rediff.com, 6 days ago I-T to go easy on up to Rs 5 lakh deposits by 70+ people Rediff.com, 6 hours ago Have you received a letter from the taxman? Do reply Rediff.com, 5 days ago
Any bank account suspected to have been "misused" for money laundering or shell company operations won't be exempted from probe under 'Operation Clean Money' despite having low deposits, the CBDT said on Tuesday. The Central Board of Direct Taxes (CBDT), the policy-making making body of the department, issued specific guidelines to ascertain if a particular cash deposit is genuine or not and with a view to "maintain consistent approach during verification" under 'Operation Clean Money' where 18 ...Rediff.com, 21 hours ago
The RBI and the government have firmed up plans to launch a new series of Rs 1,000 notes shortly to replace the earlier note of similar denomination that was withdrawn from circulation following the November 8 demonetisation announcement, a senior government official has said, the Indian Express reported. The RBI, the official said, has already started production of the new Rs 1,000 note. According to the official, the initial plan was to introduce the new Rs 1,000 note in January but it ...Rediff.com, 1 day ago Rs 1000 note won't make a comeback, tweets economic affairs secretary Rediff.com, 8 hours ago
The Supreme Court on Tuesday questioned the source of money in the bank accounts of social activist Teesta Setalvad and others which were frozen by Ahmedabad police in 2015 after allegations of misappropriation. "Whose money is this? From where did the money in these bank accounts have come," a bench headed by Justice Dipak Misra asked the counsel for Setalvad. "There are multiple donors who have donated the money for various purposes. Our personal bank accounts and the bank accounts of NGOs ...Rediff.com, 1 day ago
Controversial televangelist Zakir Naik has responded to the Enforcement Directorate summons in connection with a money laundering case and said he is willing to give statement via any electronic media facility. "My client is willing and ready to give any statement before you via Skype or any other mode of electronic media to assist you in your investigation," read a letter sent by Naik, the founder of NGO Islamic Research Foundation, through his lawyer Mahesh Mule. Naik also said that he is an ...Rediff.com, 1 day ago
He may make a comeback as co-chairman at India's second largest software exporter. Illustration: Dominic Xavier/Rediff.com. Marti G Subrahmanyam, a professor of finance, economics and international business at New York University’s Stern School of Business, who helped Infosys acquire a view of its main market United States, may make a comeback as co-chairman at India’s second largest software exporter. Infosys founder N R Narayana Murthy hinted as much when he found fault with the ...Rediff.com, 1 day ago
Was the controversial preacher a part of the hawala racket being masterminded from Karachi?Security agencies monitoring Karachi-based businessmen close to D-Company and a `terror outfit masquerading as charitable and social organisation' for funding Mumbai-based IRF.Three days after controversial preacher Zakir Naik's chief financial officer Aamir Gazdar was arrested by the Enforcement Directorate for alleged money laundering , the trail has led the sleuths to Pakistan and the ...Rediff.com, 2 days ago
Demonetisation cannot be a "standalone measure" to check black money as others like tax and electoral reforms are needed to tackle this menace, former RBI Governor C Rangarajan has said. He maintained that the authorities should have been well prepared for the note ban exercise. "The demonetisation measure has no doubt sent shivers down the spine of some. However, because of the shortage of new currency to replace the old many have suffered."All this will have an immediate effect on ...Rediff.com, 4 days ago
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