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SBI and Bank of Baroda are forced to inject funds into UK subsidiaries


London: Some of India's largest  banks like the State Bank of India and  Bank of Baroda  are being forced to inject hundreds of millions of pounds to capitalise new UK subsidiaries under new rules.Under new rules regulations by the Bank of England for foreign banks offering retail services to UK consumers means that as many as 50 overseas lenders with branches in the country could face similar obligations.

Govt will make mandatory to furnish PAN card for cash transactions


New Delhi-Union Finance Minister Arun Jaitley said that  govt will soon make it mandatory to furnish PAN card details for cash transactions beyond a certain threshold to check generation of domestic black money.He added that the bulk of black money was within India itself. No society can indefinitely sustain a system where income earners consider tax evasion to be a way of life... 

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