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FATCA stands for Foreign Account Tax Compliance Act. It is an agreement signed between India and United States (US). FATCA compliance is basically a 'self-declaration' to provide details about account holder's tax residency to the financial entity.
Cashkaro.com ties up with YES Bank to launch card-linked offers as part of its loyalty program for both offline and online shoppers. It is available on all YES BANK debit cards and will be extended to all other payment products of YES Bank in the near future. The initiative will now enable YES Bank debit card holders to earn customized cashback offers a wide range of participating online merchants.
Public sector lender UCO Bank is facing business restrictions from Reserve Bank of India (RBI) following mounting losses, continuous erosion of net worth and huge NPAs. It has become the second ender to face business restrictions after IDBI Bank following RBI's revision of its PCA framework.