Pilatus bank money laundering

The Reserve Bank of India has proposed the introduction of a prepaid payment instrument (PPI) that could be used only for transactions of goods and services worth up to Rs 10,000. It issued a statement announcing this following the Monetary Policy meeting on December 5, 2019.The central bank believes that the usage of PPIs, like the one proposed, can help promote digital payments and financial inclusion.It added that only banks and non-banking financial companies will be authorised to issue and load these PPIs. The instrument could be used for pay bills and merchant payments and transfer payments online.Close Since it is a lower value PPI, the customer will have to submit essential minimum details to procure it from the bank. RBI said it will give final instructions about this by  December 31, 2019 after notifying the changes to Foreign Exchange Management Act Regulations. related news NEFT to be available 24x7 from December 16: RBI Forex kitty continues to swells, … [Read more...] about Fintechs laud RBI’s move to introduce prepaid payment instrument

K RaveendranThe Narendra Modi government has allowed itself to be damned for its electoral bond scheme. The much-fancied scheme has ended up doing whatever it was meant to prevent. Details of the murky manner in which the government evolved and implemented the scheme show why it is so.Electoral bonds were supposed to check the use of black money in funding elections and it was argued that without institutionalised funding, corporate and other interested parties would pay political parties with questionable cash, often by round-tripping and siphoning off money from their businesses.Close In practice, however, the scheme has opened the floodgates to unlimited corporate donations and anonymous financing. Instead of making election funding transparent, the bonds have put a veil of secrecy over donations, at the same time enabling the government to know who has paid whom. This makes the scheme a perfect quid pro quo mechanism for vested interests to please the ruling establishment and … [Read more...] about Policy | Electoral bonds promote what they are supposed to prevent

India witnessed as blockbuster year as far as Initial Public Offers (IPOs) are concerned. From IRCTC, CSB Bank to IndiaMart and Polycab, stock exchanges witnessed bumper openings. But what exactly is an IPO?Simply put, an IPO is the process wherein a privately-held company can offer shares to the public for the first time to raise money from them.In this edition of Insight18, you can find out everything you need to know about an IPO.Close Watch the video for more.Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here. … [Read more...] about Insight18 | What is an Initial Public Offer?

Shishir Asthana"Do not judge me by my success, judge me by how many times I fell down and got back up again."These words from Nelson Mandela are true for every successful person, be it a businessman, sportsperson, musician or a trader. It is especially true in the case of Asit Baran Pati, who rose like a phoenix from the ashes of his creation.Close From a well paying Investment Banking job to live off his mother’s pension money, Asit has seen it all. It was his confidence and persistence in search of a winning formula and sticking to it that made him a successful trader. The taste of freedom between jobs when he attempted to trade fulltime, was his driving force. related news How Vishal Mehta undertook a journey from discretionary to system trading for consistent gains Mitesh Patel: The angry young man of options trading Sushil Bhagat: An all-round investor, options trader and successful corporate executive A short term momentum trader and a scalper, he is among the … [Read more...] about Asit Baran Pati | An options buyer journey to financial freedom

Lakshmi IyerThe Monetary Policy Committee (MPC) on December 5 voted to keep the policy repo rate, under the liquidity adjustment facility (LAF), unchanged at 5.15 percent even while maintaining the accommodative stance.This is in contrast to the market and our expectations of a 15-25 bps cut in rates. As per the policy statement, the decision is in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 percent within a band of +/- 2 percent. All the members of the MPC voted in favour of keeping rates unchanged.Close It was natural for bond yields to spike by 10-15 bps across the curve, as rate cut was almost priced into bond yields. 10-year benchmark government bond yield is at 6.60 percent (up from 6.45 percent levels pre-policy)Lakshmi IyerCIO (Debt) & Head – Products|Kotak Mutual Fund 'Bond market will cheer RBI decision if tone remains accommodative’Shaktikanta Das does a Hrithik, delivers a blockbuster … [Read more...] about ‘Rate cut unlikely in Feb MPC meet; key risk factor continues to be potential overshoot on fiscal side’