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Banks seek deferred tax assets clarity

Thursday, October 3, 2019, 10:51 AM

Banks that are looking to move to the new tax regime will have to write off or reinstate deferred tax assets (DTAs). Banks with huge DTAs on their books have reached out to the RBI to synchronise its provisioning norms with the recently-announced tax rates. Banks are hoping RBI prescribes a methodology so they can write these off over next three to five years.
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Banks plan uniform lending policy in jewellery sector

Thursday, August 1, 2019, 11:18 AM

Banks are in the process of implementing uniform policies to streamline the loan processes to gems and jewellery (G&J) industry, a senior banker said. He said one of the main challenges for the unit in the sector is obtaining credit from banks as there is a lack of uniform approach in terms of norms for security and margins, among lenders.
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RTGS, NEFT money transfer to cost less from today

Monday, July 1, 2019, 10:24 AM

With effect from today, the RBI has waived off all charges on fund transfer through Real Time Gross Settlement System (RTGS) and National Electronic Funds Transfer (NEFT) System. This, in turn, will result in lowering of fund transfer charges for bank customers. While RTGS is used for real time transfers of funds above Rs.2L, NEFT is used for fund transfers of up to Rs.2L.

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