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PNB to bring rural branches under CBS
Punjab National Bank will bring all the rural branches under Core Banking Solution (CBS) platform by the end of this financial year.

Alarm bells ring over British Columbia treaty override
Last fortnight, Vancouver, British Columbia hosted the annual International Fiscal Association (IFA) Congress with over 1000 international tax experts representing large MNCs, international tax experts, academicians and tax administrators of several jurisdictions. Expectedly, the buzz centered on India’s Direct taxes code. Most participants expressed anxiety on DTC provisions impacting cross border investments, particularly on General anti-avoidance rules (GAAR) and were perplexed with a position that the Indian domestic law can override a double tax treaty (DTT).

News of the day

Sensex back above 17k
The Sensex has recaptured 17k mark on the back of strength in IT, energy and power stocks. The benchmark is now quoting at 17,002, up 310 points, and the Nifty is well above the 5k mark at 5,079, up 93 points.
Public Relations

Dhanalakshmi bank trims deposit rates

Private sector-lender, Dhanalakshmi bank today said that it has reduced its interest rate on deposits across various slabs. - Bank of Baroda to boost India-UAE investment flow - LIC housing finance cut rates by 50 bps - LIC Hsg Fin waiting for NHB clarity to launch reverse mortgage product - Indusind Bank"s Rs 480 cr QIP issue closes today - US regulators pressure Citi to hire external consultants - Axis Bank Chief Shikha Sharma to get Rs 2 cr package">Axis Bank Chief Shikha Sharma to get Rs 2 cr package The change comes into effect since August 17, a release issued here said. Deposits with a tenure of one-year and above but less than five-years will now yield an interest of 7.50 per cent as against the earlier eight per cent. Interest rate on deposits with a tenure of up to 179-days has been cut by up to 0.50 per cent. Interest rate on deposits of 180-days to less than one-year and five-years and above and inclusive of 10 years, remain unchanged at 6.50 per cent and eight per cent, respectively, the release said. Senior citizens are eligible for an additional interest of 0.75 per cent per annum, it added.


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