Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: list of goods taxed at 4% :: TDS :: VAT Audit :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: cpt :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: ACCOUNTING STANDARD :: empanelment
 
 
« News Headlines »
 Did you know? The tax exemption on your HRA
 Income Tax Department expands list of deposits, transactions under scrutiny
  Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962
 Master Directions on Access Criteria for Payment Systems
 RBI-Scheduled Bank's Statement of Position in India as on Friday, January 06, 2017 (Revised)
 3 Big Mistakes To Avoid This Tax Season
 The Top 5 Tax Stories Of 2017
 Are multiple service tax rates in the offing?
 All you need to know about claiming tax break on HRA
 How much income tax you should pay on investments in gold?
  Best ways to save tax in 2017

MoF considers tax benefits to boost deposit growth
November, 22nd 2006

The finance ministry has indicated that it is ready to provide further tax benefits on savings to boost deposit growth and an announcement to this effect may be made in the coming budget as well. We are ready to provide further tax incentives if required and suggested by the Indian Banks Association(IBA), official sources said.
Finance minister P Chidambaram, while presenting the Union budget for 2006-07, announced that fixed deposits in scheduled banks for a term of minimum five years would qualify for tax exemptions.

IBA, it may be noted, is preparing a concrete report for deposit mobilisation. However, we need to wait for full report and based on the report a decision would be taken, sources said.

Meanwhile, sources said that the IBA is likely to ask banks to focus on correct and competitive pricing, product development, increasing the number of branches and aggressive marketing to push deposit growth and keep pace with a 31% credit growth.

Chidambaram in his review meeting with bankers earlier during the month said that banks must come up with a concrete strategy to boost deposit growth.Banks need to focus on product development by devising different products for different customers. Flexibility is key for customers and the one size fits all product would not help in any way, SC Gupta, chairman and managing director, Punjab National Bank, said.Corporation Bank CMD B Sambamurthy said that banks must make pricing competitive to attract customers. A large number of other avenues is available to customers now and banks must keep that in mind and accordingly price their products, he said.Though the finance ministry has said that there is no immediate pressure on liquidity and banks can sustain the credit growth for the next eight to nine months, they need to start mobilising deposits immediately to avert any liquidity crunch at a later stage.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions