FM pushes banks to launch deposit mobilisation drive

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India Business News: NEW DELHI/MUMBAI: Finance minister Nirmala Sitharaman on Monday nudged state-run banks to step up deposit mobilisation and conduct special drives so t.

The findings reveal that if per capita income increases by Rs 1,000, bank deposits increase by Rs 613 when considering taxes as a factor.

The SBI report recommended delinking the tax treatment from the highest income bracket and instead taxing deposits at the time of redemption rather than on an accrual basis.

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Article Details

Author / Journalist: TNN

Category: EconomyBusiness

Markets: IndiaIndonesiaUkraine

Topics: Senior citizens Finance minister Mutual funds Deposit mobilisation Finance minister Nirmala Sitharaman Business news Cyber security

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-20 @ 06:39:29 (15 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 822 words

Reading Time: 5 minutes read

Sentences: 29 lines

Sentence Length: 29 words per sentence (average)

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Copyright Owner: © Times of India

News ID: 22166644

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