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‘ICICI Bank has sufficient liquidity’

Reuters

Mumbai, September 30, 2008

RBI said on Tuesday that ICICI Bank has sufficient liquidity to meet the needs of its depositors, and that the bank and its subsidiary banks abroad were well capitalised.

“There are reports in some sections of the media that based on rumours regarding the financial strength of ICICI Bank, depositors are withdrawing cash at its ATMs and branches in some locations,” the central bank said. (more…)

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Sixth Pay Commission: Salary arrears paid in FY09 to be taxed

Clearing doubts on the tax treatment of arrears given to Central government employees following the Sixth Pay Commission, the finance ministry on Tuesday clarified that income tax would be deducted only from the arrears of salary actually paid during 2008-09. “On the balance, tax would be deducted during the financial year in which these pay arrears are actually paid,” as per an official release.

Section 192 of Income Tax Act, 1961 (which deals with tax deduction at source) requires any person responsible for paying any income chargeable under the head ‘Salaries’ to deduct income tax on the amount payable at the stipulated rate at the time of payment, the release added. (more…)

Tuesday, September 30, 2008

Mumbai (PTI): The Cricket Board has shifted the venue of the fourth ODI between India and England on November 23 from the original Jamshedpur to Bangalore.

“The reason is Tatas have said the stadium in Jamshedpur (Keenan Stadium owned by Tatas) is unsafe,” BCCI sources told PTI. The Bangalore tie would be a day/night contest, they added.

The revised itinerary of England’s tour is:

Nov 6: England team arrives

Nov 9: Warm-up tie at CCI, Mumbai (more…)

September 30, 2008

Mysore (PTI): Dasara, Karnataka’s most prominent festival, began atop the Chamundi hills here with the centenarian Sri Shivakumara Swamiji of Siddaganga mutt inaugurating the event, marking the continuation of the tradition. (more…)

Wishing Eid Mubarak to all.

This Year ID-Ul-Fitr holiday is on October 1st.

Eid ul-Fitr or Id-Ul-Fitr, often abbreviated to Eid, is a Muslim holiday that marks the end of Ramadaan, the Islamic holy month of fasting. Eid is an Arabic word meaning “festivity”, while Fi?r means “to break the fast” (and can also mean “nature”, from the word “fitrah”); and so the holiday symbolizes the breaking of the fasting period. (more…)

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