Category: HDFC Bank

Budget 2016: 9% tax rate regime for India’s first International Financial Centre

The pet project of Prime Minister Narendra Modi – the International Financial Services Centre (IFSC) – housed in the Gujarat International Finance Tec City – has received a boost in the Union Budget 2016/17. The long pending tax issue has been decided with 9 per cent minimum alternate tax (MAT),… – Continue reading

Tata Steel to refinance $1.5bn offshore debt

Tata Steel’s Singapore arm T S Global Holdings Pte raised $1.5 billion debt to settle outstanding loans, the company said in a statement. Tata Steel group executive director-finance and corporate Kaushik Chatterjee said, “Tata Steel actively reviews all its financing options and seeks to continuously optimise its debt based on… – Continue reading

Banks, MFs ask US NRIs to submit FATCA certificates

MUMBAI: Indian banks and mutual funds have in the past fortnight started warning NRIs who hold an American passport or are working in the US that their accounts could be frozen unless they get a tax-compliant certificate from US authorities, thanks to a treaty signed by New Delhi and Washington…. – Continue reading

Indian banks make a beeline for space in Gujarat’s Gift City

Bank of India, Bank of Baroda, Corporation Bank, Punjab & Sind Bank, HDFC Bank and many others have signed up for space in Gujarat’s International Finance Tec-City (also known as Gift City). In fact, banks are expected to be the first to kick off operations in 2016/17, when the International… – Continue reading