Third-party sales force in financial sector dying slow death.
From April onwards, the government have sensitised the ministries to live within the Budget.
Despite fears of slow economic growth, the health of their unsecured assets are not so likely to be stressed.
Those conducting their businesses predominantly in cash and evading income tax have reasons to worry.
Apart from the cheaper interest cost, the need to make local purchases and payments in the yuan has prompted a few Indian companies with Chinese operations to explore fund-raising opportunities through this route.
Leaving behind apprehensions of a rise in interest rates and petro duty cut impacting budget numbers, the officials are now confident of keeping the fiscal deficit within the targeted 4.6 per cent of the gross domestic product.
For home buyers in Noida Extension things have just gone worse. While banks have decided not to disburse loans to residential properties in the area, including those that had no litigation against them, builders are threatening to charge a penalty if payments are not made according to the existing contracts.
In an interview with Malvika Joshi and Somasroy Chakraborty, Madan Menon, RBS' chief executive for Singapore and Southeast Asia and head of global banking and markets in India, shares the bank's plans.
Empowered CIB to play lead role in recovering tax evaded.
Empowered CIB to play lead role in recovering tax evaded.
Jobless growth has found a new home - India's life insurance companies. In the last financial year, private life insurers reduced headcount by 27 per cent to achieve profitability.
Standard Chartered Bank's aim of expanding its consumer banking business in South Asia was strengthened when it convinced Sanjeeb Chaudhuri to join the bank earlier in July.
The country's largest commercial bank's SME advances grew nearly 23 per cent to Rs 119,676 crore last financial year.
RBI feels allowing foreign companies into this business may affect financial stability.
"It is felt there should be an arm's-length distance between the fund manager and the custodian of securities. There should be separation between fund manager, banker and the custodian," a senior labour ministry official said.
A senior CBDT official said the idea was to use TDS as a major driver to meet the stiff direct tax collection target of Rs 5.33 lakh crore in the current financial year.
India is pushing for speedy implementation of a globally networked customs (GNC) platform, which envisages an interconnected customs-to-customs information sharing system.
RBI slams public sector banks for the strange phenomenon of profits dipping when a new chairman takes over.
Implementation of GST demands full support from all states.
Agencies to help get data on assets of taxpayers.
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