Tax optimiser: Kumar can reduce tax by up to Rs 1.4 lakh by paying rent to mom, tax free perks, NPS

ET Wealth tells readers how individuals can reduce their income tax outgo by rejigging their income (Salary structure) and investments.

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Digital payment sector wants MDR to be back

The Payments Council of India (PCI), the industry body for the digital payments ecosystem in the country, has written to the government urging it to roll back the zero MDR regime for UPI and Rupay debit cards transactions.

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NCLAT directs NCLT to decide over SREI's plea against rights issue of Trinity Alternative Investment

A two-member NCLAT bench, while disposing of SREI Infrastructure Finance Ltd (SIFL) petition observed that the National Company Law Tribunal (NCLT) has ordered a status quo and is yet to pass any order over the plea filed by the non-banking financial company.

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ICICI puts up all round show to clock record profit in Q3

Fee income also recorded a strong growth of 19% year-on-year to Rs 4,291 crore from Rs 3,601 crore a year ago. Treasury income declined to Rs 88 crore from Rs 766 crore a year earlier because unlike last year income this year did not include a gain of Rs 329 crore from sale of shares of ICICI Securities.

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Yes Bank's plan to set up an ARC may be delayed by a quarter

Yes Bank's plan to transfer its entire bad loan book to its proposed asset restructuring company (ARC) may slip to the next financial year as the formation of the ARC got delayed due to the spread of the third wave of the Covid-19 pandemic.

from Banking/Finance-Industry-Economic Times https://ift.tt/33W1HJu

CSB Bank posts 180% jump in net profit at Rs 148 crore

The bank said it managed to contain bad loans in both gold and non-gold assets. Out of the gross NPA of Rs 389 crore, Rs 102 crore is gold loan NPAs which are backed by pledge of gold ornaments. Gross non-performing assets dipped to 2.62 per cent at the end of December against 4.11 per cent a year back. Net NPA was at 1.36 per cent against 2.63 per cent over the same period.

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Bandhan Bank report 36% rise in net profit

"The stress in the system has considerably reduced and this will lead to reduction in NPAs going forward," said managing director Chandra Shekhar Ghosh. He said that collection efficiency in Assam and West Bengal -- the two states which saw high build up of asset quality stress -- has improved.

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PTC India board to meet Jan 22 after allegations of irregularities in financial lending units

Rajib Mishra, the company's chairman, did not elaborate on the agenda of the meeting. Mishra was addressing a news conference after shares of non-banking financial company PTC India Financial Services Ltd (PFS) continued to fall on Friday. The firm was accused of lapses in corporate governance by three independent directors who resigned on Thursday.

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Govt extends HLL Lifecare bid submission deadline till February 28

The Department of Investment and Public Asset Management (DIPAM) had on December 14 invited preliminary bids for selling the government's 100 per cent stake in the health sector CPSE. The last date for expression of interest (EoI) was January 31.

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KYC: Your gateway to the world of finance

Customers often find it very tedious and irritating when they are asked to either complete or update their KYC. However, they must understand that it is only in their interest that they follow all the requirements of completing and updating their KYC data at regular intervals to avoid any fraudulent activities occurring in their accounts.

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Why Budget 2022 should give tax breaks for employees working from home

For employees working from home, there is a cost involved such as enhancing their internet connectivity, spend more on mobile/telephone expenses, availability of personal space at home to carry out their office duties etc. Thus, there is a case for allowing a deduction for home office expenses.

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Aditya Birla Sun Life AMC gets IFSCA nod to carry out portfolio management services in GIFT City

The company's move to set up new unit at the Gujarat International Finance Tec-City (GIFT City) is a strategic step towards growth of its international business to expand its reach and service global clients, including NRIs for investing in India, the asset management firm said in a statement.

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Overnight call rate surges to 21-month high prompting RBI to act

The shortfall prompted the Reserve Bank of India to announce an immediate borrowing window for Rs50,000 crore. The central bank’s move has underscored its commitment to ensuring liquidity needs even as it unwinds excess cash through Variable Reverse Repo Rate (VRRR) auctions amid the diminishing threat of coronavirus infections.

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