Account Number Portability

Reserve Bank to announce its third bi-monthly policy review of current fiscal

The Reserve Bank of India will announce the third bi-monthly policy review statement of this fiscal this afternoon. The six members Monetary Policy Committee led by RBI Governor Dr. Urjit Patel began two day meeting in Mumbai yesterday. 

AIR Correspondent reports that the RBI Monetary Policy Committee meeting's outcomes are keenly awaited by all stakeholders including industry and stock markets. 

Account Number Portability

RBI asks banks to work towards account number portability

Reserve Bank of India Deputy Governor S S Mundra has asked banks to work towards account number portability, as it will be a far-reaching step towards enhancing competition and improving customer service. 

Speaking at the annual conference of banking ombudsmen in Mumbai, he said banks should look forward to providing more choices to the new generation of customers who are more technology savvy. 

Income Tax Return

Last day of filing Income Tax Return today; No extension of deadline

The last date for filing of the Income Tax Returns for the financial year 2016-17 will not be extended beyond today's deadline, a top official said. The Income Tax Department said it has no plans to extend the deadline as it has already received over two crore returns electronically, reports PTI.

On reports of the e-filing website facing some glitches, the official said that no major glitches have been reported with the department's e-filing website barring a few times when the portal was interrupted for maintenance.

Banking Regulation Amendment Bill 2017

Banking Regulation Amendment Bill 2017 & others bills scheduled to be tabled in Lok Sabha

The Banking Regulation (Amendment) Bill, 2017, the Companies (Amendment) Bill, 2016, the National Bank for Agriculture and Rural Development (Amendment) Bill, 2017 and The Companies (Amendment) Bill, 2016 is scheduled to be come up for consideration and passage in the Lok Sabha today. 

The Indian Institutes of Information Technology (Amendment) Bill, 2017 and the Indian Institutes of Management Bill, 2017 will also come up for consideration and passage in the Lower House. 

Pranab Mukherjee Hails GST

President Pranab Mukherjee hails GST as shining example of cooperative federalism

President Pranab Mukherjee has said that Parliament stands for debate, discussion and dissent adding that disruption hurts opposition more than the government. In his farewell address at Central Hall of Parliament last evening, he said, disruption denies the opportunity to opposition to raise the concern of the people. The President hailed the passage of GST as a shining example of cooperative federalism.

Mukherjee said, voice of each Member of Parliament is important and it is unfortunate that the Parliamentary time devoted to legislation has been declining. The President said, ordinance route should only be adopted in compelling circumstances. 

Praising the Prime Minister, the President said, the advice and cooperation extended by Narendra Modi benefited him. He said, Modi is driving transformational changes with passion and energy. The President added that he will carry forward with him fond memories of association with Modi. 

Talking about his tenure, Mukherjee said, he has tried to protect, preserve and defend the Constitution which represents hope and aspirations of billion plus Indians. Vice President Hamid Ansari and Lok Sabha Speaker Sumitra Mahajan also addressed the gathering. Prime Minister Narendra Modi and leaders from different political parties attended the function besides several Union Ministers.