Daily Newsletter | Monday, March 21, 2016 | | | $181 billion Indian black money in tax havens? | | Between six and seven trillion dollars worth of black wealth lies hidden in tax havens across the world, according to a fresh estimate by a trio of senior economists from the Bank of Italy. |
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| Govt expects no dividend from 9 PSU banks | | The finance ministry has not budgeted for any dividends from at least nine public sector banks during the next fiscal, in what is being seen as an indication that the government expects the finances of several lenders to remain under stress even during 2016-17. |
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| | Jharkhand lynching: Raids on to nab three more accused | | Latehar police on Sunday forwarded to jail five people – including one of the two kingpins Mithilesh Prasad Sahu, associated with a local cow protection vigilante group – who were arrested for lynching two cattle traders in Latehar’s Balumath police station area. |
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| | | | RBI expected to cut rates by up to 25bps | | Prospects for a lower interest rate regime have increased significantly with economists and bankers expecting the Reserve Bank of India (RBI) to cut rates in its monetary policy review on April 5. Some bankers say that conditions are ripe for a rate cut in March itself. |
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| If lending rates dip, interest on FDs can't remain high: FM | | Finance minister Arun Jaitley on Sunday defended the decision to reduce interest rates on small savings such as public provident fund, arguing that there was a need to move towards lower interest rates to make the economy more efficient, rather than sluggish. |
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| IDBI to raise lower amount from LIC on Sebi formula | | IDBI Bank will be able to raise only around Rs 850 crore through a preferential allotment to Life Insurance Corporation (LIC), against its earlier plan of Rs 1,500 crore, after the lender was forced to follow the Sebi-formula for issuing shares and was reminded that the insurer can at best hold 15%. |
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