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Economy

Borrowers will not be fined on pre-payment penalties on all floating rate term loans

Borrowers will not be fined on pre-payment…

Mumbai, May 7 (KNN) Banks will not be permitted to charge for foreclosure or pre-payment penalties on all floating rate term loans sanctioned to individual…
Minors above 10 yrs now allowed to open, operate SB accounts independently

Minors above 10 yrs now allowed to…

Mumbai, May 7 (KNN) Minors above 10 years of age will now be allowed to open and operate independently savings bank accounts, and the banks are free to offer…
No fine for non-maintenance of minimum balances in inoperative accounts: RBI

No fine for non-maintenance of minimum balances…

Mumbai, May 7 (KNN) The Reserve Bank of India (RBI) has said that customers will not be fined for not maintaining a minimum balance in their bank accounts…
NPA troubled UBI turns towards MSMEs

NPA troubled UBI turns towards MSMEs

Kolkata, May 6 (KNN) Faced with an RBI embargo not to extend credit above Rs 10 crore in the backdrop of its mounting losses, United Bank of India (UBI)…
More losers than gainers on BSE SME platform today

More losers than gainers on BSE SME…

Mumbai, May 5 (KNN) Picking up today with less than one fifth companies listed on the platform,  BSE SME ended with more losers than gainers today and…
Delhi VAT office to take 'coercive' steps, detain goods at borders sans T-2 form

Delhi VAT office to take 'coercive' steps,…

New Delhi, May 6 (KNN)  In a clear threat to Delhi traders, the state today openly said through widely published notices that yes it would resort to "coercive…
Accreditation of industry bodies will enhance stakeholder confidence

Accreditation of industry bodies will enhance stakeholder…

New Delhi, May 5 (KNN)  Considering that industry associations or business membership organisations (BMOs) play a key role in promotion and development…
India spending billions of dollars on IPR imports

India spending billions of dollars on IPR…

New Delhi, May 5 (KNN) India is estimated to have spent a tidy sum of over USD five billion in the fiscal 2013-14 on imports of the intellectual property rights…
5-point action plan to address NPAs in the banking system

5-point action plan to address NPAs in…

New Delhi, May 5 (KNN)  To address the mounting Non-Performing Assets (NPAs) pressure on the health of the Indian banking system, industry body CII has…
Credit to industry increased by 13.1% in March: RBI

Credit to industry increased by 13.1% in…

Mumbai, May 3 (KNN) On a year-on-year (y-o-y) basis, credit to industry increased by 13.1 per cent in March 2014 as compared with the increase of 15.1 per…