An analysis for the first eight months of CY18 shows that the value of RuPay and UPI transactions constitute 65.2 per cent of all transactions done through debit and credit cards, in value terms, across retail outlets by the end of August.
For banks, the package will limit the burden of provisioning for stressed loans. Besides, the proposed restructuring package for MSMEs with a credit of up to Rs 25 crore is expected to provide a breather to units from this sector.
Audit firms such as KPMG believe zero complaints may be an indicator of the lack of requisite mechanism to allow for such reporting
The currency with the public is 10.3 per cent higher than it was in the week preceding November 8, 2016 - from Rs17.97 trillion to Rs18.76 trillion.
If a name does not unify the three, there could be continued clash of identities, which could splinter the brand even before it takes shape, say Abhijit Lele and Nikhat Hetavkar.
Governments that did not respect the central bank's independence would sooner or later incur the wrath of financial markets, ignite economic fire, and come to rue the day they undermined the regulatory institution, Deputy Governor Viral Acharya warned.
The problem for the NBFC sector is the funding inertia by banks and not lack of funds.
JM Financial Consultants, Arpwood Capital and Alvarez & Marsal will advise the board going forward
The current episode highlights the structural vulnerabilities in the liquidity management practices of Indian NBFIs
The new board will have to provide the NCLT a road map for turning around the company by October 31, which, Kotak said, is challenging, given that the company's issues represent a "moving target"
PSB executives said loans to group holding company IL&FS and entities might still be treated as "standard".
'People, whose sensitive information has been leaked by State agencies or companies having license from UIDAI to access the Aadhaar database, can file suits, collectively or individually.'
The NCLT said the new board must hold its meeting by October 8 and come out with a road map before the next hearing on October 31
The IL&FS group has a complicated structure, with the holding company owning stakes in its financial services arm as well as the subsidiaries that operate its infrastructure assets.
Alvarez & Marsal will develop a detailed restructuring plan for the group to demonstrate to shareholders and lenders that it was self-sufficient in repaying its liabilities. So far, the IL&FS management had been working on its revival plan.
Vijaya Bank assured employees that the service conditions 'will remain unaffected and staff benefits retained'
The RBI has cited corporate governance and regulatory issues for not extending Kapoor's term. Further, the lender has been directed to search for a successor.
The artificial intelligence-based system aims to authorise cashless claims within 60-90 seconds and bring the turnaround time for investigations down to a one day, or even a few hours.
A senior executive of NIA confirmed the development and said that the insurance company is assessing damage to the airport's assets
The Indian market regulator had revamped the FPI regulations in 2014 giving custodians the mandate to collect and verify the KYC documentation of offshore investors
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