With the migrant workers losing jobs,remittances from NRIs could decline by 20 pct this fiscal.
The levy was introduced in 2005 to track unaccounted money and trace its source.
Asia's banks are likely to step in with loans and boost their presence across the region as the credit crisis has forced big Western rivals to retreat.
The idea was mooted during a meeting of officials of the Central Vigilance Commission,the CBI and other security agencies recently,official sources said.
The Small Industries Development Bank of India (SIDBI) on Tuesday said it is looking at foreign borrowings to the tune of USD 700-900 million for the next fiscal year.
Public sector lender Oriental Bank of Commerce may cut interest rates for deposits of one year by 50 basis points on Tuesday.
Oriental Bank of Commerce said it will reduce its benchmark prime lending rate by 50 basis points to 12 per cent,with effect from April 1.
Punjab National Bank,the country's second largest state-run lender,said there is no further scope for the banks to slash their lending rates.
HMIL in a bid to enhance financing options for its customers,signed a Memorandum of Understanding (MOU) with Bank of India.
Allahabad Bank closed its sale of perpetual bonds earlier than scheduled after collecting extra bids,the bank said on Thursday.
Indian Bank on Tuesday opened a new branch at Gannavaram town about 15 km from Vijayawada.
The Reserve Bank of India will release its annual monetary policy statement for the 2009/10 fiscal year (April/March) on April 21.
Tata Motors,on Thursday said it has tied up with public sector lender Indian Bank for providing financing facilities.
Auto maker Tata Motors on Wednesday said it has tied up with public-sector lender Andhra Bank for providing retail finance facilities to its passenger vehicle customers.
Haryana Gramin Bank,sponsored by state-run lender PNB,has introduced Centralised Banking Solution.
IDBI Bank,Federal Bank and Fortis Insurance International have together invested 2.5 billion rupees in its life insurance venture to expand business.