Discussion paper fixes Rs 1,000 cr as minimum capital for these specialised banks
Banking is a boring business but still the banker should enjoy it as fancy awards and cozy relationships with politicians, Bollywood stars and corporate honchos cannot save them if the job is not done properly. In the concluding part of the series Tamal Bandyopadhyay wonders how long Kochhar would need to wait for her redemption or downfall and atonement.
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In his clearest message yet on the controversy over the safety of ENDS, health minister Harsh Vardhan ruled out their acceptability in the light of research findings by experts which have held that they are no less unsafe than the 'real thing', said a government statement.
'The government should refrain from 'adventurism' and 'megalomania'.' 'But this should be true of reckless government action against every Indian, whether or not they are wealthy or have access to the finance minister even when he is in hospital,' says Aakar Patel.
'Much as I have been enjoying the anti-GST jokes on WhatsApp and also worrying about the economy in a tailspin in more serious moments, there is a tiny part of me that is thankful to Modi and Jaitley,' notes Keya Sarkar.
Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
Investors must withdraw funds, open a new trading account and transfer assets.
If indeed we want the board to manage the RBI, probably the government should take a close look at the US Federal Reserve system which has a two-part structure - a central authority in Washington, DC, and a decentralised network of 12 Federal Reserve Banks located throughout the country, says Tamal Bandyopadhyay.
Every year Fortune honours 10 innovators, groundbreakers and game changers as 'Most Powerful Women Entrepreneurs'.
On the final day of his two-day visit to India's financial capital, Congres vice president Rahul Gandhi tried to connect with Mumbaikars by raising the issue of high electricity bills en route his padyatra from National College, Bandra to Dharavi, Asia's largest slum colony.
'The more the news media weakens, especially at this juncture of economic ruin with lay-offs and wage cuts, the more the owners and journalists weigh their value in terms who they are close to, the more they depend on the State to bail them out of trouble, slow-fry their rival, the faster it pushes us towards institutional destruction,' warns Shekhar Gupta.
Deepak Parekh, chairman of Housing Development Finance Corporation (HDFC), India's largest mortgage lender, says the exuberance in industry about the new government is justified but big ideas articulated by the prime minister need speedy implementation.
There is a case for analysing the fiscal deficit, separately for expenditure and investment.
'Gandhi turned his life into a counter-intuitive experiment in old ideas like non-violence and swadeshi.' 'He offered numerous universal ideas that talk to the human condition.' 'His ability to take risks was outstanding,' says Sopan Joshi, explaining why the Mahatma's ideas are as relevant as ever.
Walt Disney has laid off about 250 employees and replaced them with Indians holding H1-B visas.
India Inc was, perhaps, watching out for a repeat of the dot-com bubble burst of the early 2000s.
'Visiting my friend in his affluent locality, I realised that the Delhi weather had become the great equaliser.' 'Pollution was always in the air, everywhere, and had become the primary subject of all conversations,' notes Ambassador B S Prakash.
Banks in India must have a modern approach, suggests a panel comprising of banking bigwigs.
'Clearly, the depositors of cooperative banks need the maximum protection.'
Auroville just turned 50. Aurovilians who grew up in The experimental city speak of how their childhood was marked by a sense of openness and possibility.
A senior official with Muthoot Finance said the group would also want to apply for a universal licence.
Helping Hands, a group of young volunteers, hopes to rebuild a "stronger, prettier and a prouder Nepal" after the Himalayan nation was rattled by the April 25 earthquake. Anusha Subramanian reports from Kathmandu.
Opposition led by Congress on Thursday upped the ante against the government on the bugging issue demanding a judicial probe and a statement by Prime Minister Narendra Modi on the matter which, they said, has put NDA's credibility at stake.
Uneasy calm prevailed in Ayodhya, which on Saturday looked like a fortress, with deployment of more than 10,000 cops on the 22nd anniversary of the demolition of the Babri Mosque.
Incoming US President Donald Trump has assembled a core team that is -- not surprisingly -- overwhelmingly white and male.
Amitabh Chaudhry, who will now head the merged entity, will manage assets under management of about Rs 1.10 lakh crore and an employee base of 23,620 after the completion of the deal
Though General Naravane's visit will not deal with 'impermanent' issues like the changing stands of politicians, it will certainly reinforce the deeper 'permanent' links between the people of Nepal and India. Time will hopefully tackle the present impermanence of the Sino-Nepalese romance, notes Claude Arpi.
Five longtime Republicans -- K V Kumar, Puneet Ahluwalia, Suhail Khan, Ajay Kuntamukkala and Harry Walia -- have been named to the GOP's Asian Pacific American Advisory Council.
The year 2014-15 could well go as one of long-pending financial sector reforms, expected to have a lasting impact.
White House said Trump strongly believed that protecting environment and 'promoting our economy are not mutually exclusive goals'.
'We'll certainly have Hollywood productions, so why wouldn't we have Bollywood?'
Economists expect Modi to announce big-bang reforms.
The time the companies have to get ready for GST is 6 to 12 months.
N Sundaresha Subramanian digs deeper into what Catalyst, an Indo-US project, brings to the payments ecosystem.
Mumbai-origin Gulam Kaderbhoy Noon, who migrated to Britain with little funds and went on to found several Indian food companies that made him known as Britain's first 'Curry King', died on Tuesday at the age of 79 after he surrendered in his battle against liver cancer.
'Power is always transitory, and you should be the same person whether you have it or not,' the head of the number one law firm in India tells Pavan Lall.
As China begins rejuvenation of its military power, there is an urgent need for transformation of the Indian military, says Lieutenant General Anil Chait (retd).
Ahead of the assembly elections next year, the BJP has been wallowing in a welter of ideas that has resurrected the debate on populism versus pragmatism, as it has to pander to two important but incompatible constituencies, of the freebie consuming masses and Bengaluru's heavy hitters craving for even roads, pristine lakes and unbroken power supply, reports Radhika Ramaseshan.
The move is aimed at making it easier to do business in India.
The argument that a Bharatiya Janata Party government has no business marking the 125th birth anniversary of Panditji makes little sense, says Virendra Kapoor
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