Author: admin@thebankingtimes.in
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ICICI Bank’s New Rs. 50,000 Minimum Balance Rule: What Happens If You Don’t Maintain It
ICICI Bank’s New Rs. 50,000 Minimum Balance Rule: What Happens If You Don’t Maintain It Effective August 1, 2025, new ICICI Bank urban savings accounts must maintain a Monthly Average Balance (MAB) of Rs. 50,000. Falling short can attract penalties. (Existing accounts continue under old rules.) Key rule for urban branches: Minimum MAB = Rs.…
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Revised Income Tax Bill, 2025 Tabled With Key Fixes For Salaried, Homeowners & Investors
Revised Income Tax Bill, 2025 Tabled With Key Fixes For Salaried, Homeowners & Investors Finance Minister Nirmala Sitharaman on Monday tabled a revised Income Tax Bill, 2025 in Parliament, replacing last week’s withdrawn draft. The update adopts most recommendations of the Parliamentary Select Committee chaired by Baijayant Panda, aiming to replace the Income-Tax Act, 1961…
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No GST Notices on UPI Transactions, Clarifies Finance Minister
No GST Notices on UPI Transactions, Clarifies Finance Minister Union Finance Minister Nirmala Sitharaman has clarified in a written reply to the Lok Sabha that Central GST authorities have not issued any GST notices based on UPI transactions. Finance Minister’s clarification: “Central GST authorities have not issued any notices based on UPI transactions.” The clarification…
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Banks Free to Decide Minimum Balance Requirement, Says RBI Governor
Banks Free to Decide Minimum Balance Requirement, Says RBI Governor Reserve Bank of India (RBI) Governor Sanjay Malhotra has clarified that the central bank has not imposed any restrictions on the minimum balance requirement for savings accounts, leaving the decision entirely to individual banks. RBI Governor Sanjay Malhotra: “What kind of minimum balance is required…
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Aadhaar Face Authentication Doubles To 200 Crore Transactions In Six Months
Aadhaar Face Authentication Doubles To 200 Crore Transactions In Six Months Aadhaar Face Authentication has set a new benchmark, reaching 200 crore total transactions as of 10 August 2025. The milestone comes less than six months after crossing the 100 crore mark, underscoring India’s rapid shift to secure, paperless, and contactless digital identity verification. UIDAI…
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Social Media Buzz Over Possible UPI Charges — How Much Could It Earn?
Social Media Buzz Over Possible UPI Charges — How Much Could It Earn? A fresh wave of discussion is circulating on social media about whether the government or the National Payments Corporation of India (NPCI) might introduce charges for Unified Payments Interface (UPI) transactions. No official announcement has been made, but the speculation has triggered…
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Digital Payments Surge: UPI Records 1,946.79 Crore Transactions in a Month
Digital Payments Surge: UPI Records 1,946.79 Crore Transactions in a Month India’s digital payment ecosystem has witnessed remarkable expansion, with transaction volumes soaring from 2,071 crore in FY 2017-18 to 22,831 crore in FY 2024-25 — a compound annual growth rate (CAGR) of 41%. Transaction values during the same period have surged from Rs. 1,962…
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Govt, RBI roll out sweeping banking reforms; MSMEs and digital payments get big boost
New Delhi, Aug 11 — The Banking Times Desk Highlights Credit discipline strengthened via IBC, CRILC and early-warning frameworks. NPA resolution push with asset transfer mechanisms and NARCL consolidation. PSB governance upgrades: arms-length leadership selection, non-executive chairmen, performance-linked extensions. Key laws: Banking Regulation (Amendment) Act, 2020; Banking Laws (Amendment) Act, 2025. MSME credit support through…
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Income-Tax Bill 2025 Withdrawn: Key Takeaways and Old vs Proposed Comparison
Income-Tax Bill 2025 Withdrawn: Key Takeaways and Old vs New Comparison Finance Minister Nirmala Sitharaman on Friday moved to withdraw the Income-Tax Bill, 2025 in the Lok Sabha, acting on recommendations from the 31-member Select Committee chaired by BJP MP Baijayant Panda. The House approved the withdrawal amid Opposition uproar. The Committee’s review, tabled on…
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Top 10 Richest People in India (2025): Fortunes, Sectors, and What They Signal for the Economy
*Top 10 Richest People in India (2025): Fortunes, Sectors, and What They Signal for the Economy* India’s billionaire list is more than a leaderboard of personal fortunes—it is a window into the country’s evolving economy. Behind each name are sectors that create jobs, attract capital, and shape long-term growth: energy and materials that power factories,…