Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to 2.55 billion Swiss francs (over Rs 20,700 crore) in 2020 on a sharp surge in holdings via securities and similar instruments, though customer deposits fell, annual data from Switzerland's central bank showed on Thursday. The increase in aggregate funds of Indian clients with Swiss banks, from 899 million Swiss francs (Rs 6,625 crore) at the end of 2019, reverses a two-year declining trend and has taken the figure to the highest level in 13 years. It stood at a record high of nearly 6.5 billion Swiss francs in 2006, after which it has been mostly on a downward path, except for a few years including in 2011, 2013 and 2017, as per the Swiss National Bank (SNB) data.
The two states account for 24% of total accounts opened under financial inclusion scheme.
If military power is all it would take to finish the menace of an awful terrorist organisation like Hamas, how come five Israeli wars in Gaza since 2003 have failed to do so? asks Shekhar Gupta.
In terms of plot, Season 4 matches Season 1. It is grim, fast-paced and engaging, recommends Deepa Gahlot.
How will the financial crisis in Dubai affect exporters and importers in India?
Kerala's election discourse operates surreptitiously. Its explicit face focuses on important national and local issues. At the same time, it seeks to secure apt communal equations to ensure votes, notes Shyam G Menon.
Nearly two million postcards and eight million letters pass through India's post offices daily.
'China seems more intent on creating a new world order rather than shaping the existing one.' 'India is of course, at this moment in time, aligned with the West-led order because of China's full-spectrum aggressive behaviour towards India.'
'There's no pro-China tilt in BRICS.' 'All these countries want to be close to China, but they are all good friends of India also.'
Maharashtra and West Bengal lead the way in bank fraud.
Now, the 'Men in Blue' are left with just five T20Is -- two more against the Proteas and three games against Afghanistan at home in January -- ahead of next year's T20 World Cup in the West Indies and the USA.
The 14-year political journey of Trinamool Congress leader Mahua Moitra has encountered both upheaval and elevation, as her expulsion from Parliament in a cash-for-query case marked the culmination of her tumultuous parliamentary term.
Chris Gayle was not at his brutal best in the IPL but Andre Russell's butchering of the bowlers has forced the teams to take note of what could await them at the World Cup.
While the fiscal year has just begun, any windfall surplus will be welcomed by the government as it bids to meet the fiscal deficit target of 5.9 per cent of GDP, amidst lack of clarity on exactly to what extent will recession in the West impact India's trade and tax collections.
The interest offered is mostly 0.5 to 1 per cent more than what other banks offer. Moreover, customer service and long-term association spanning generations are also other reasons for the popularity.
For FY21, CSB is looking at growth of around 25 per cent and is confident of doubling it in two years. And it is also exploring options to acquire a mid-size bank with a good client base and branches in the north to acquire an all-India presence.
The Reserve Bank of India on Thursday decided to keep policy rate unchanged for third time in a row as it maintains heightened vigil on inflation. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022.
'Clearly, the depositors of cooperative banks need the maximum protection.'
Former British Army soldier Daniel Abed Khalife, 21, who was awaiting trial on charges of breaching the UK's Official Secrets Act at Wandsworth Prison in south-west London, escaped allegedly by clinging to the under-carriage of a delivery van.
UBS stepping in to save Credit Suisse with a $3.2-billion acquisition has provided the beleaguered Swiss bank's India employees a glimmer of hope. The surprise deal - engineered by the Swiss government - has triggered optimism of fewer job losses at Credit Suisse's India unit and better synergies at key verticals, such as wealth management and investment banking. "UBS is a much stronger hand. Coming within its fold will give Credit Suisse's wealth management and investment banking divisions a good home.
The last two I-T teams left the premises, one each in Odisha and Jharkhand, carrying with them a number of seized "incriminating documents" and data cloned from electronic gadgets in the early morning hours.
The new Ram Lalla idol was consecrated at the Ayodhya temple on Monday, an event led by Prime Minister Narendra Modi and watched by lakhs of people on television at their homes and in temples across the country.
Australian Peter Handscomb will replace Rahane. Handscomb has extended his stay with the Foxes to feature in next month's Metro Bank One Day Cup.
Media reports have speculated a takeover could spell the end for manger Alan Pardew.
Questioning the team's authority headed by a former Patna high court judge, Banerjee pointed out that Ram Navami processions organised by the Bharatiya Janata Party had carried arms and driven tractors and deliberately taken routes where 'Namaz' was being offered.
'As it happens in any society, when progress happens, hate also comes out.' 'There is always a bit of a risk and possibility of rejection, particularly by an orthodox section of society.'
A surprise attack by Hamas militants from Gaza at daybreak killed at least 200 Israelis on Saturday even as Prime Minister Benjamin Netanyahu declared "war" and said his country would extract an "unprecedented price" from its enemy.
Hardik Pandya is touted as a possible captaincy option for Mumbai Indians in the future.
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
India offers travel adventures no other country can offer.
Unlike in the past, when old private banks compromised upon underwriting standards to take on the bulk, they've now realised that scaling up at the cost of quality isn't worth the while. These banks have also readjusted growth targets when required, and rebalanced books to preserve capital and asset quality.
Keen to back start-ups while they are half-unicorns, SoftBank plans to invest $100 million in a firm with $500-million valuation.
'The purported claim that Israel can defeat Hamas and everything 'would go back to normal' is completely absurd.'
Nirav Modi, the fugitive diamond merchant wanted in India to stand trial on fraud and money laundering charges, told a UK court on Thursday that he could be in England for years as some ongoing proceedings prevent his extradition. The 52-year-old former billionaire appeared for a hearing at Barkingside Magistrates' Court in east London via video link from Thameside prison in relation legal costs, or fines, amounting to GBP 150,247.00, accrued over his failed extradition appeal proceedings in the London high court. Dressed in a pink prison-issue outfit and sporting a moustache, a plump and bald Nirav addressed the three-member magistrates' bench to reveal that he had complied with the previous court direction to pay in GBP 10,000 per month towards the fines.
India will soon meet Iraq and the United Arab Emirates (UAE) to seek a definitive rate of discount on crude oil similar to what Russia has provided so far, sources said. Multiple officials and industry executives said Iraq, which is India's biggest oil supplier, wants to discuss the level of discounts expected by Indian refiners. India's focus on snapping up ever-increasing volumes of Russian crude oil has led to a corresponding decline in imports from the Middle East. Flows from Iraq, Saudi Arabia, and the UAE have suffered as a result.
Indian investments in the West Midlands, UK, have doubled in the last 2 years, thereby strengthening relations between India and UK.
Astronomical Rs 24.75 crore bid makes Starc most expensive player in IPL history
The ongoing Hamas-Israel conflict has disrupted India's efforts to gain from a recent fall in crude oil prices. Since Hamas' invasion of southern Israel on October 7, petroleum has become costlier by around $5 per barrel, threatening to stoke prices and impact growth. Brent crude was trading at $89.8 per barrel on October 9 (9.15 pm IST), up over 4 per cent, thwarting India's anticipation of a period of declining oil prices - after the leading global petroleum benchmark declined by around 11 per cent last week.
The central government and the Reserve Bank of India have devised a country-specific plan towards implementation of overseas trade in rupee, people aware of the matter said. To start with, a small number of banks will be allowed to manage cross-border transactions in domestic currency with a particular country. "Small countries that are dollar-deficient have shown interest in doing trade in rupee.
The central government has asked public sector undertakings to dissuade their employees from participating in the bandh.
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