Lopping off Tax from Principal!

FD holders, beware! Banks are resorting to deducting TDS from the principal without informing customers.

Until now, we told investors that bank fixed deposits, although taxable, would at least ensure that your tax-paid principal amount, usually your hard-earned savings or retirement kitty, is safe. Well, not anymore. Beware. A bank could be nibbling away at your principal in the name of...

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UBS: The Indian Connection

Froriep Renggli, a Zurich-based law firm, has alleged the active connivance of UBS in routing trades in Reliance Energy and Reliance National Resources through its clients' accounts.

On 28 December 2009, Froriep Renggli, a Zurich-based law firm, acting on behalf of unnamed ‘clients’ who are customers of the Union Bank of Switzerland (UBS) dashed off letters to the Reserve Bank of India...

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New Banks: Will RBI Relent?

The RBI has barely suppressed its dismay over the finance minister’s announcement that the apex bank is considering allotting new banking licences to private-sector players.

A surprise element in Pranab babu’s popular Budget was the announcement that the Reserve Bank of India (RBI) is considering new banking licences for private-sector players in order to extend the ‘geographic reach’ of...

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