SME Times is powered by   
Search News
Just in:   • Majority of working professionals welcome cracker ban in Delhi-NCR: Survey  • UK PM travels to Brussels to reactivate Brexit negotiations  • US, Pakistan, China hold talks in Muscat on Afghanistan  • Sensex, Nifty close at record highs  • Pradhan to visit Japan for LNG meet, ink cooperation on gas 
Last updated: 30 Jun, 2017  

bank-THMB.jpg Bandhan Bank expects long term benefits from GST

Bank Logo generic
   Top Stories
» Wholesale price inflation eases in Sep to 2.6 pc
» 'Govt never talk about announcing fiscal stimulus package'
» 'Centre working on mechanism to speed up GST refund for exporters'
» 'Positive exports growth in 26 out of 30 major product groups in Sep'
» Exports rise for 13th straight month, grow 26 pc in September
SME Times News Bureau | 30 Jun, 2017
Kolkata-based private lender Bandhan Bank, which mostly lends to small and micro enterprises, is hoping to gain from the implementation of the Goods and Services Tax (GST), a top official said on Thursday.

Small business units including traders across states have been raising concerns over the GST and asking to defer the launch of the new indirect tax system. In a protest, the traders have also called a nationwide strike on June 30.

"There may be some teething concerns on GST in the near term but it will have a positive impact on our business in the long term," the lender's Managing Director and CEO Chandra Sekhar Ghosh said here on the sidelines of an event of the Merchants' Chamber of Commerce.

He said the bankers would be able to know details of transactions by the borrower and this would bring in transparency in the system.

The micro-finance company which was transformed into a universal bank has 80 lakh borrowers, of which 75 lakh are women, and posted Rs 1,112 crore profit in 2016-17.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
65.95
64.30
UK Pound
87.75
84.85
Euro
77.85
75.20
Japanese Yen 58.75 56.80
As on 17 Oct, 2017
  Daily Poll
Small traders even below the threshold limit too should register under GST system?
 Yes
 No
 Can't Say
  Commented Stories
» Starting an import export business: Basic guide for beginners(21)
» GST revamp: Relief to exporters, SMEs(14)
» 'GST relaxations advanced Diwali celebrations'(1)
» Collateral free loans available for MSMEs: Minister(1)
» 'Students should apply for interest subsidy on education loans'(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter