Of $90 billion remittances that India is expected to receive in 2022, only $27.4 billion has come in the first half of the year.
The number of fraud cases reported by private banks outnumbered those by public sector banks for the second consecutive year.
The industry came under scrutiny after the proliferation of games like cards, casinos, and fantasy sports among young people led to addiction and financial losses, with some reported cases of suicide.
The joint inspections is to ensure the safety, efficacy, and quality of drugs available in the country
'Investors need to have a fairly diversified basket of funds within equities.' 'We want them to allocate to largecap funds, midcap funds and flexicap schemes.'
'By naming Tejashwi as the next CM candidate, he has put us in a dilemma.' 'Who will lead us in 2025?' 'What will happen to the party after 2025?'
The success of recent IPOs and the stability in the secondary market are propelling many firms and investment bankers to remove their IPO plans.
The average top executive monthly compensation is Rs 1 crore. The median employee salary is now Rs 820,000.
Mutual funds have ratcheted up Rs 53,700 crore (Rs 537 billion) through new fund offers (NFOs) in 2022 until November, against Rs 1 trillion in Calendar 2021, notwithstanding the number of launches this year eclipsing the 2021 tally. Industry insiders cite the absence of launches in popular categories as the reason behind lower collections this year. Typically, only NFOs in popular categories from major fund houses rake in the moolah.
The vaccine would not have production scalability issues unlike Covaxin, Bharat Biotech's COVID-19 virus vaccine.
'...helping the government, citizens, and companies get the balance right.' 'As great as technology is, these are societal questions, not just technical ones.'
Credit card spending dropped 11 per cent sequentially in November at Rs 1.15 trillion, but topped Rs 1 trillion for the ninth month straight, data from the Reserve Bank of India (RBI) showed as the festive season ends and consumption activity slows down. Year-on-year (YoY), spending was up 29 per cent. Card spends have consistently topped the Rs 1 trillion mark, led by the rising share of e-commerce transactions.
Even as competition to garner deposits is intensifying into a tight liquidity and high credit growth scenario, Bank of Baroda (BoB) has hiked deposit rates for the second time in the current quarter. Also, private lender IDBI Bank has come out with a limited period offer on its term deposits. It is offering 7.6 per cent interest rate for a tenor of 700 days, effective from December 2022.
In the high courts, only 13.2 per cent women occupied the position of judge.
Assessment year 2020-2021 saw returns filed fall to 69.7 million and stood at 71.4 million in assessment year 2021-2022.
Gaming platforms will also be required to display a warning after a certain time of usage to reduce the risk of addiction.
'I hope they all survive, but it is a tough world.' 'The carriers who are already established are already struggling.'
'If the FYUP is making the child employable, then we will have to ensure that learning on the job is integrated.' 'And also ensure that by the time they end FYUP they are completely employable.'
The regulatory changes brought in by the insurance regulator and the amendments proposed to the Insurance Act by the Centre may herald a new dawn for the sector in India. This may result in insurers bringing out more consumer-led products, top honchos of general insurance companies of the country concurred at the Business Standard BFSI Insight Summit 2022.
India has a huge untapped population which doesn't have facilities for financial aid and insurance, and it is perhaps plausible to look at the option of having niche players catering to smaller sectors akin to non-banks and microfinance institutions in lending, said Rakesh Joshi, member (Finance & Investment), Insurance Regulatory and Development Authority of India (Irdai). Speaking at the Business Standard BFSI Insight Summit, Joshi said, "Today, most of our insurance companies operate at a national level. There is arguably a case for having differentiated operations, which cater to niche sectors the same way we have non-banking financial companies (NBFC) and microfinance institutions in lending." "The capital requirement for niche players may not be as large as those having national ambitions. "Enabling these niche players, which require lower capital, will enhance the penetration in areas which hitherto had not seen traction from large players," he said.
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