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Three PSU banks decline info on import of coal
August 2016
Citing customer confidentiality, three state-owned banks, including State Bank of India (SBI), have declined to provide information with their overseas branches regarding transactions by leading power companies which are being probed for alleged overvaluation of coal imports, pegged at Rs 29,000 crore
US sanction to make payment for Iran difficult
February 2013
From February 6, Indian banks would not be able to transfer money to Iran for the oil imported by India from the gulf nation. This is because a new US treasury sanction, which bars banks from transferring Iran's oil revenues from importing nations to Tehran, comes into effect from February 6. So far, India has been making 45 percent of the payment to Iran for its crude oil in rupees through the Kolkata-based Uco Bank.
US sanction to make payment for Iran difficult
February 2013
From February 6, Indian banks would not be able to transfer money to Iran for the oil imported by India from the gulf nation. This is because a new US treasury sanction, which bars banks from transferring Iran's oil revenues from importing nations to Tehran, comes into effect from February 6. So far, India has been making 45 percent of the payment to Iran for its crude oil in rupees through the Kolkata-based Uco Bank.
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