Page 20 - Banking Finance December 2016

P. 20

NEWS FLASH

' Tax Dept will probe on smaller deposits if big ac- ' Export certification agencies to come on common
counts show irregularities platform for duty benefits

' IDS fetches Rs 3.5 lakh crore of taxes till 28th No- ' Common backend provider for all Micro ATMs on
vember the cards
' Oil falls 2% on doubt over OPec output cut ' 10,000 customers open account with Airtel Pay-
ments Bank
' World's diamond polishing hub Surat faces a big
cut after demonetization ' Citi India waives Debit card fees for merchants
' Cognizant announces buyout of digital marketing ' Insolvency and Bankruptcy Board sets up 2 panels
firm Mirabeau BV ' RBI may use CRR hike as last resort

' Caterpillar India bags Golden Peacock Award ' Tata Power to sell Arutmin stake for $ 247 million
' Volkswagen offers ABS, dual airbangs as standard ' Price of petrol raised 13 paise, diesel cut 12 paise
firment ' India to invest $20bn in gas fields in next 5-7 years

' Jakson to install rooftop solar plant at Rashtrapati ' Next round of RCEP talks in Jakarta from Decem-
Bhawan ber 5

' Govt likely to meet 3% fiscal deficit goal of FY18: ' Strategic rail lines to come up along China border
BofA-ML ' ISRO will launch 83 satellites in one go in January
' Ola teams up with SBI, PNB for Mobile ATMs 2017

6 lakh ration shops to be turned into Bank Mitras
The government is looking to turn all six lakh ration shops into business correspondents or bank mitras which is part of
the second phase of its financial inclusion programme. By this move, the government wants to promote more transac-
tions in the recently opened accounts under the Pradhan Mantri Jan Dhan Yojana.
"Already around four lakh fair price shops have enrolled as business correspondents. Owning to their strategic location
and high footfall, we are hopeful that they can emerge as focal points for all banking transactions, including remit-
tances," said a government official. The government is also looking to push interbank transactions and Aadhaar-seeded
accounts to further streamline the system.

SEBI committee on disclosure requirements and accounting practices

SEBI has re-constituted its committee which advises the regulator on issues related to disclosure requirements and
accounting practices for various entities in the securities market.

The 17-member Committee on Disclosures and Accounting Standards will continue to be chaired by Tata Sons Director
(Finance) Ishaat Hussain and the panel includes Wipro CFO and Executive Director Suresh Senapaty, NSE Managing
Director and CEO Chitra Ramkrishna, Comptroller and Auditor General of India (CAG) Director General AB K P Sasidharan
and ICAIs P Vijay Kumar. The expert panel also includes representatives from SEBI, Finance Ministry and Corporate
Affairs Ministry.

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