Hughes Strengthens Dominance in Finance & Banking Sector with Two More Contract Awards by Indian Banks

New Delhi, Delhi, India, Thursday, February 03, 2011 -- (Business Wire India) Hughes Communications India, Ltd. (HCIL), a leading provider of broadband satellite and managed network services, and wholly owned subsidiary of Hughes Network Systems, LLC (HUGHES), today announced two significant contracts signed for the United Bank of India and UCO bank networks for their respective RRBs (Regional Rural Banks). The first contract award is from United Bank of India valued at Rs. 8 crores , under which Hughes will provide broadband services connecting 1,095 Regional rural bank locations The second contract, valued at Rs. 7.5 crores was awarded by the UCO Bank to deploy a network of 808 satellite terminals...

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50 DoT officials under CVC scanner for alleged graft

The central vigilance commission has imposed major penalty on 226 officials of different government organisations for their alleged involvement in corrupt practices. Out of the total 226, a highest of 50 are from department of communications, 36 from Central Board of Excise Customs, 23 from ministry of railways and 13 from State Bank of India. Besides, 10 officials from Vijaya Bank, nine from Punjab Sind Bank, eight from MCD, seven from Andhra Bank, 6 from Canara Bank and five each from Allahabad Bank, Bank of India, Punjab National Bank, Power Grid Corporation of India Ltd and UCO Bank have been penalised. According to the commission's performance report for December, the anti-corruption watchdog...

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Banks seek better tax breaks on NPA provisioning

Banks have sought enhanced tax breaks for the provisions that they make in their books of accounts towards bad and doubtful debts. At a pre-budget meeting with the Union Finance Minister, Mr Pranab Mukherjee, the country's top bankers sought full deduction for income-tax purposes the provisions made by banks on bad and doubtful debts. Currently, the income-tax law has capped the amount that banks can avail themselves of as deduction for bad and doubtful debts. Provision for bad and doubtful debts made by banks are allowed as a deduction to the extent of 7.5 per cent of gross total income and 10 per cent of aggregate average rural advances made by them. Alternatively, such banks have been given...

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Banking on Belief: 'Lockless' Bank in India To Be Guarded By God

The United Commercial (UCO) Bank has announced that they are opening India's first "lockless" bank branch in a small village called Shani Shinganapur in the Ahmednagar district. Luckily the area, whose presiding deity is Lord Shani, is known for its total lack of crime. In fact, the village is so crime-free that reportedly none of the village's homes even have doors--let alone locks. While the bank will have doors, they will all be lock free but officials aren't worried about the risk. They say that people have a stronger faith than an urge for riches. "People here fear that if there is a theft or robbery, then the culprit and their family have to bear the wrath of Lord Shani," said local...

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Ornaments worth Rs 10 lakh stolen in Patna from UCO Employee's Residence

PATNA: Gold ornaments worth Rs 10 lakh were stolen from the Shivpuri residence of Amita Mishra, a teacher of economics in B D College, under Shastrinagar police station on Friday afternoon. Amita told TOI that she lives alone in the house as her husband, Gyan Prakash, working with UCO Bank, is posted in Gujarat and her daughter is in Canada for higher studies. She said she left her flat for her college at around 11 am on Friday. "I returned around 6 pm and found the latchet of main door broken and lights on," she said, adding both her almirahs were open. She said that since she was arranging her daughter's marriage, she had purchased gold ornaments for her and kept them in the almirahs. "My...

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Download Forms for Income Tax Annual Year 2010-11

Download New Income Tax Return Forms Annual Year 2010-11 SARAL - II (ITR-1)English    Instructions Hindi   Instructions For Individuals having Income from Salary / Pension / Income from One House Property (excluding loss brought forward from previous years) / Income from Other Sources (Excluding Winning from Lottery and Income from Race Horses. ITR 2 English  Instructions Hindi  Instructions For Individuals and HUFs not having Income from Business or...

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