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Contrast ways of India’s largest public-sector bank State Bank of India

Contrast ways of India’s largest public-sector bank State Bank of India

आर्थिक
State Bank of India has collaborated with SBI-cards for issue of SBI-cards to all account-holders of SBI having minimum balance of rupees 20000-25000, without going into credit-history of account-holder. On the other hand, SBI has from 01.04.2017 has decided to levy minimum-balance charge requiring minimum balance of rupees 5000 in savings-accounts in metro-cities. Liberal issue of credit-cards will be misused by fraud-minded persons. Already account-holders have facility of debit-cards to all account-holders. Rather SBI should take lead in abolishing transaction-charges on use of credit and debit cards. Processing charges on issue of credit and debit cards should also be abolished. Presently sellers charge transaction-charge of 2-percenbt from customers on purchases made through credit...
Welcome decision to issue 200-rupee notes: 2000-rupees notes be not printed any more

Welcome decision to issue 200-rupee notes: 2000-rupees notes be not printed any more

आर्थिक
Welcome decision to issue 200-rupee notes: 2000-rupees notes be not printed any more   It refers to board of Reserve Bank of India (RBI) in March 2017 reportedly having given nod to print 200-rupees notes. Decision will also be in tune with internationally accepted system for printing currency-notes in a series of 1-2-5 which required denomination of 200-rupees notes between existing currency-denominations of rupees 100 and 500. But with same norms, 2000-notes should no more to be printed with central government already having ruled out plan to issue 1000-rupees notes. Otherwise also, 2000-rupees notes are not acceptable amongst masses, and might being for parking dirty money and parallel economy of black money thus killing the very purpose of bold step of demonetization taken on 08.1...
Finance Bill loaded with 40 amendments to different laws passed by Lok Sabha

Finance Bill loaded with 40 amendments to different laws passed by Lok Sabha

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The Lok Sabha on 22-3-2017 passed the Finance Bill 2017. Earlier, the Finance Minister Shri Arun Jaitley moved 40 amendments to the Finance Bill proposing amendments in different laws including funding of political parties, use of Aadhar for filing Income Tax returns, cap of Rs.2 lakh on cash financial transactions and rationalisation of Tribunals and Appellate Tribunals. The following are the main features of the amendments moved in the Finance Bill 2017 : (a)  Aadhar made mandatory for PAN and Income Tax (b)  Removal of Cap of 7.5% of average net profit of the last three years for companies making political donations so as to allow higher corporate donations while curbing black money and unknown source of political donations. (c)  Limit on cash transactions has been reduced to Rs. 2 l...
नोटबंदी, काला धन और आयकर विभाग

नोटबंदी, काला धन और आयकर विभाग

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नोटबंदी के बाद देश के विभिन्न बैंकों के खातों में जमा अघोषित धनराशि से काला धन के हिस्से निकालने के लिए वित्त मंत्रालय ने एक नायाब तरीका अपनाया है। इसके तहत कर अधिकारी को किसी के दरवाजे पर जाने की जरूरत नहीं है और अघोषित आय रखने वाला खुद ब खुद टैक्स डिपार्टमेंट के ऑनलाइन फॉर्म को भरते हुए स्वेच्छा से अघोषित आय को प्रधानमंत्री गरीब कल्याण योजना में जमा कर देगा। इस प्रक्रिया के तहत जिस किसी ने भी नोटबंदी के बाद बैंकों में चलन से हटाए गए नोटों में बेहिसाब पैसा जमा कराया है, वैसे लोगों की छंटनी कर आयकर अधिकारी उन्हें एक ऑनलाइन फॉर्म भरने को कहेंगे। यह फॉर्म एक तरह का नोटिस है जो है तो बेहद छोटा लेकिन इसमें बहुत ही कुशलता से प्रश्न पूछे गए हैं। इन प्रश्नों के पूरे जवाब देने की प्रक्रिया में एक करवंचक स्वयं अपने काले धन का खुलासा करने को मजबूर हो जाएगा। आयकर अधिकारी अभी तक करीब 18 लाख ऐसे ...
RBI to issue new series of 10-rupees: Where is plastic-currency

RBI to issue new series of 10-rupees: Where is plastic-currency

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Reserve Bank of India (RBI) on 09.03.2017 announced issue of new banknotes of 10-rupees denomination in the Mahatma Gandhi series-2005 with inset letter 'L' on both number panels, bearing the signature of Governor Urjit Patel. But the then Union Minister of State for Finance Namo Narain Meena in UPA regime in a written reply in Rajya Sabha on 12.03.2013 had stated that Union Government and Reserve Bank of India (RBI) had decided to issue polymer/plastic currency-notes of rupee-ten denomination on trial basis. Even present central government in a post-demonetisation decision declared to issue plastic currency. Non-implementation of the decision even after four-years, puts a question-mark on currency-production both by RBI and central government with so many public-sector undertakings ...
बजट और मेरा दृष्टिकोण

बजट और मेरा दृष्टिकोण

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    मैं एक उदाहरण देना चाहता हूं, मैं जब अपने मां के गर्भ में था यदि उस समय मेरी मां को दूध, मक्खन, घी, मछली मांस, अंडा, ड्राई फ्रूट, फल, सब्जी भरपेट खाने को मिला होता तो शायद आज मेरा रंग रूप दूसरा हुआ होता। मैं उस मां के पेट से जन्म लेकर आया हूं जिसको भरपेट भोजन नहीं मिला, वह आधे पेट खाकर सोती थी, कभी-कभी मां के पेट में भी मुझे भूखा रहना पड़ता था। आपने कभी इस पर सोचा, आपके दिल में कभी दर्द हुआ, हम जेल में जाते थे तो गाते थे, धनवानों के राजमहल हम गरीब को फांसीघर चलो बसाएं नया नगर। मैं भी नरेन्द्र मोदी जी को धन्यवाद देना चाहता हूं, उन्होंने उस मां के दर्द को समझा और गर्भवती महिलाओं को छह हजार रूपये भोजन के लिए दिए। हिन्दी भाषी इलाके के लोग जो पिछड़े हैं, दलित हैं, गरीब हैं, मजदूर हैं, किसान हैं और गांव की झोपड़ी में रहने वाले हों, अपनी-अपनी माताओं तक यह संदेश पहुंचा...
डिजिटल भुगतान की अनिवार्यता के सबब

डिजिटल भुगतान की अनिवार्यता के सबब

TOP STORIES, आर्थिक
विमुद्रीकरण के बाद डिजिटल भुगतान प्रणाली और कैशलेस अर्थव्यवस्था को प्रोत्साहन देने के लिए सरकार द्वारा किए जा रहे प्रयासों का लोगों ने स्वागत किया है। लेकिन डिजिटल लेनदेन को बढ़ावा देने के लिए महीने में चार बार से अधिक नकदी लेन-देन पर शुल्क की व्यवस्था जनता की परेशानियां बढ़ायेगा, उन पर अतिरिक्त बोझ पडे़गा। इस व्यवस्था के अन्तर्गत बैंकों ने अपने-अपने ढंग से शुल्क वसूलना शुरू कर दिया है। जिसके विरोध में विभिन्न स्तरों पर स्वर भी उठने लगे हैं। डिजिटल भुगतान की अनिवार्यता लागू करने से पहले अबाध डिजिटल गेटवे को सुनिश्चित करना ज्यादा जरूरी है। अन्यथा नकदी पर नकेल कसने की जबरन थोपी गयी यह व्यवस्था ज्यादती ही कही जायेगी। इससे न केवल आम जनता की बल्कि व्यापारियों की समस्याएं बढ़ेगी। कहीं ऐसा तो नहीं कि नोटबंदी की नाकामी को ढं़कने के लिये डिजिटल भुगतान की अनिवार्यता का सहारा लिया जा रहा है, यह सरकार की...
Tata strategy of Manda

Tata strategy of Manda

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As a Prof. of Strategy, for past 3 years I knew it was a matter of time before the situation exploded. Cyrus Mistry never had a chance as Ratan Tata handed over to him nothing short of a financial disaster. I assure you the worst is yet to come, and the blame will be wrongly placed on Cyrus's shoulders. And, am tempted to say that I told you so in 2014 ! Excerpt from my Case study published (ref. 314-361-1) at The Case Center, U.K. in 2014 M&A Melodrama at Tata Group : Frenzy to Freeze In 2004, the 'sweet n shy' Tata group embarked on an uncharacteristic pursuit. In a radical departure from an average of one acquisition each year during 1995-2003, the group carried out 51 mergers and acquisitions during 2004-08 i.e. one M&A deal every 35.8 days for 5 years in a row. It may we...
DeMo Critics Need To Pipe Down: FM’s Deposit Numbers Suggest Big Black Money Catch

DeMo Critics Need To Pipe Down: FM’s Deposit Numbers Suggest Big Black Money Catch

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[The human and institutional costs of DeMo no longer look unacceptable, given the potential scale of black money discovered in the deposits surge]     Not too many people commented on the biggest set of numbers revealed by Finance Minister Arun Jaitley in his 2016-17 budget: not the fiscal deficit, not the tax collections, but the sheer size of deposits made in several crore accounts post-demonetisation.   If nothing else, the knowledge that so many Indians hoarded so much cash in their homes and offices, much of it probably undisclosed incomes, is itself worth the whole effort.   Barring TN Ninan, who wrote about this huge cache of potential black money in his Business Standard column, few people took note.   This is what Jaitley said in his budget speech:   After the demo...
Vigil necessary on excessive cash-withdrawal from bank-accounts

Vigil necessary on excessive cash-withdrawal from bank-accounts

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Study should be made about quantum of cash-withdrawals after lifting of cash-withdrawal limit from current-accounts in banks. It is also necessary because Reserve Bank of India (RBI) has announced removing all restrictions on cash-withdrawals even from savings-accounts in banks from 13.03.2017.   In an era when central government is trying, and rightly so, for a cashless economy, there needs to be proper check on excessive cash withdrawals from bank-accounts to prevent re-emergence of parallel economy of black money and hawala-operations. Income Tax Department can ask banks to provide details of bank-accounts and PAN-numbers where cash-withdrawal in a month has exceeded some stipulated limit. Auditors can be required to mention in their audit-reports about purpose of such heavy ...