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BANK FREEZES ACCOUNT OVER DISPUTED TRANSACTION
Businessman’s bank account put on hold after a Rs 2,253 transaction was flagged, requests to use the remaining balance went unanswered; High Court orders Axis Bank to release the moneyCalcutta High Court has ordered Axis Bank to defreeze a Kolkata businessman's bank account that had been put on hold over a cyber fraud cas...- Soon, FD details will be part of your CAS statement; Here’s how it helps youSoon you will get to see your fixed deposit (FD) details in CAS statements. CAS stands for consolidated account statements and it is usuall...
- RBI policy rate hike to immediately pinch retail customersThe RBI has raised the repo rate by 25 basis points to 5.50%, its first hike since February 2023, which could make floating-rate home, car ...
- These 8 banking stocks have an upside potential of up to 29% in 1 year, according to analystsFor the last two years, one sector where actual performance has been better than expected has been banking. Yes, there were exceptions amon...
- Bank restricted access to matured fixed deposits worth Rs 13.8 lakh, allowed customer to withdraw only Rs 50,000, ordered to pay Rs 14.15 lakhA district consumer commission in Thiruvananthapuram has ordered a cooperative bank to pay a widow over Rs 14.15 lakh after it blocked her ...
- Rs 85.3 lakh cash gifts from relatives deposited in bank trigger unexplained deposit income tax notice; taxpayer contests and wins case in ITAT ChennaiMr Amirtharaj from Thygarayanagar, got Rs 85.03 lakh cash gifts from his sister’s husband, uncle and other relatives, he deposited this cas...
- Hackers can target your wealth adviser’s WhatsApp: How to protect your moneyRecent incidents highlight the increasing threat of compromised WhatsApp accounts among financial advisers in India. These attacks exploit ...
- NRI child sending money to parents in India: Why a tax-free gift can still trigger an income-tax noticeParents receiving money from their NRI children in India may enjoy tax exemptions on gifts, but large transactions can attract scrutiny fro...
- SC refuses to interfere with freeze on bank accounts of Trinamool CongressThe Supreme Court recently refused to lift the debit freeze on four bank accounts belonging to Trinamool Congress. This decision hampers th...
- SC dismisses Mamata-led TMC faction’s plea to operate four debit-frozen bank accountsThe Supreme Court refused to allow the Mamata Banerjee-led Trinamool Congress faction to access frozen bank accounts. These accounts hold a...
- India showcases justice reforms, digital initiatives at UN CongressAt the 15th United Nations Congress, Law Minister Arjun Ram Meghwal emphasized India's new legal framework incorporating technology. He dis...
- SC upholds HC order, clarifies scope of Fortis forensic auditThe Supreme Court maintained the Delhi HC's directive for a forensic audit of certain banking transactions. This audit specifically concern...
- SBI seeks clarity on handling of bank accounts, deposits under FCRA billState Bank of India officials are seeking clarity on handling accounts when an organization’s registration is suspended. They highlighted r...
- ‘Money came by mistake’: Man returns Rs 8,400, later finds his Rs 25,000 blocked by bank over ‘suspicious activity’A viral X post has raised concerns over returning money received from unknown bank accounts after a man claimed that Rs 8,400 sent to him b...
- Delhi man filing ITR found ₹79 crore unidentified income linked to PAN: Tax details show a Mumbai firm was using his credentials. Know what you should do in this situationA Delhi resident found that his PAN and identity information were used to register a fraudulent business. The GST registration, linked to a...
- Do banks report deposits over $10,000 to the IRS? What really happens when you cross the cash reporting thresholdA cash deposit exceeding $10,000 in a single day triggers an automatic report to the federal government. Financial institutions do not make...
- ECI gets 3 months to decide TMC name and symbol disputeThe Supreme Court directed the Election Commission to decide within three months the dispute between rival All India Trinamool Congress fac...
- High Court lets team Mamata Banerjee operate three bank accountsThe Calcutta High Court permitted the Mamata Banerjee faction to operate three frozen bank accounts. The state police had frozen these acco...
- Calcutta HC extends interim order on AITC's three HDFC Bank accounts till January 29In a significant ruling, the Calcutta High Court has extended the interim order on three AITC bank accounts, which will stay in effect unti...
- RBI proposes framework to freeze only disputed amounts instead of entire accounts in cyber fraud casesBanks will soon freeze only disputed transaction amounts, not entire accounts. AI systems will monitor unusual transfers of one thousand ru...
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