10 entities, including Ujjivan Financial Services and Equitas Holdings, on Wednesday got RBI’s approval to set up Small Finance Banks to provide basic banking services to small farmers and micro indus-tries. Other entities to get the Reserve Bank’s nod are Au Financiers (Jaipur), Capital Lo-cal Area Bank (Jalandhar), Disha Microfin (Ahmedabad), ESAF Microfinance (Chen-nai), Janalakshmi Financial (Bengaluru), RGVN (North East) Microfinance (Guwa-hati), Suryoday Micro Finance (Mumbai) and Utkarsh Micro Finance (Varanasi). The “in-principle” approval will be valid for 18 months to enable these entities comply with the guidelines on Small Finance Banks, RBI said in a statement.
Business & Economics
Reverse Outsourcing: Indian remedies to a fever-pitch outsourcing debate
Presidential elections in the US follow a scripted narrative. As the candidates battle for the highest office, everything is fair game. In a weak economy, that means it is open season on that familiar bogey: […]
India
RAMDEV TWEAKS TAX PROPOSAL, SUGGESTS AMNESTY
NEW DELHI (TIP): With mounting criticism over the proposal to introduce a tax on bank deposits and abolish all other levies, yoga guru Baba Ramdev, who is one of the key proponents of the new […]
United States
Seminar on Banking & Taxation
NEW YORK (TIP): New York seniors held a seminar on Banking and Taxation on Wednesday, February 26 at Panchmukhi Hanuman Temple, Glen Oaks. Shashikant Patel briefly explained about NRE, NRO, FCNRE accounts, updated tax deduction […]
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