Ranjani Srinivasan, a citizen and national of India, entered the United States on a F-1 student visa as a doctoral student in Urban Planning at Columbia University, the Department of Homeland Security said in a statement on Friday. It added that Srinivasan was "involved in activities supporting" Hamas, a terrorist organisation.
The upcoming Union Budget to be presented on February 1 is likely to assume a nominal gross domestic product (GDP) growth between 10 and 10.5 per cent for FY26, a Business Standard poll of 10 economists showed. The first advance estimates released by the National Statistics Office (NSO) had estimated a nominal GDP growth of 9.7 per cent for FY25. Nominal GDP, calculated at current market prices, factors in the effect of inflation. It is used as the base to calculate crucial macroeconomic indicators, such as fiscal deficit, revenue deficit, and debt-to-GDP ratio.
'The intensity and frequency of heatwaves will be much higher than in previous years over Punjab, Haryana, Rajasthan, Gujarat, Madhya Pradesh and Odisha.'
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
Former Prime Minister Manmohan Singh was a brilliant economist with a visionary outlook on India's potential, combined with a fine sense of political feasibility, former RBI Governor Raghuram Rajan said on Friday. Singh, the architect of India's economic reforms, passed away here late on Thursday at the age of 92.
'With continued focus on votes, upcoming by-polls and purchasing politicians, the political hierarchy has little time for national defence.' 'They would do well to heed a veteran scholar, who says, "There will be war with China in the next few years. The next full scale war will have the involvement of Pakistan and terror elements, insurgents and intelligence assets operating inside India",' warns Lieutenant General Prakash Katoch (retd).
The GDP growth is expected to be about 6.3 per cent in the current fiscal year, a tad lower than the government's estimate of 6.4 per cent, owing to several factors such as weak demand, SBI research report said on Wednesday. According to the first advance estimates (FAE) of National Income for 2024-25 released by the National Statistics Office (NSO), released on Tuesday, India's economic growth rate is estimated to slip to a four-year low of 6.4 per cent in 2024-25, because of poor showing by the manufacturing and subdued investments.
The Budget for 2016-17 has announced a massive rollout of ATMs and micro-ATMs.
During the negotiations held on May 5, IBA made two unacceptable propositions including an offer of 2 per cent hike in the wage bill cost as on March 31, 2017
All that you must know about the pros and cons of gift deeds, tax implications, essentials, documents required, conditions, etc...
Anandu Krishnan, a 26-year-old man, has been arrested for allegedly defrauding people of several crores by promising scooters, sewing machines, home appliances, and laptops at half price using fake CSR funds from major companies. The total fraud is estimated to be around Rs 600-700 crore. Krishnan was operating the scam since 2022 by registering societies and convincing people that he was the National Coordinator of the National NGO Federation and that he had been entrusted with managing the CSR funds of various companies. He collected money through 62 "seed societies" and used his political links to convince the victims. The police are investigating the role of certain political leaders in the fraud.
Fundraising through qualified institutional placement (QIP) has revived this year, led by commercial banks, after a lacklustre 2022. According to data compiled by Prime Database, Indian companies have raised Rs 53,070 crore in 2023 so far, of which seven banks - Union Bank of India, Indian Bank, Bank of India, Federal Bank, IDFC First Bank, Bank of Maharashtra, and J&K Bank - account for Rs 21,290 crore, or about 40 per cent. If other financial institutions are included, the figure surges to Rs 26,690 crore.
Shigeru Ishiba is expected to prioritise strengthening Japan's military capabilities and fostering deeper international partnerships, particularly with India, with whom Japan shares significant strategic interests, explains Dr Rajaram Panda.
The board of HDFC Bank has approved the appointment of Keki Mistry and Renu Karnad as the additional non-executive directors of the bank, and V Srinivasa Ranjan as its executive director. Mistry was the chief executive officer and vice chairman of HDFC, which merged with the bank today (1 July 2023). Karnad has been the managing director of HDFC since 2010. Ranjan was the executive director and chief financial officer of HDFC.
Temples across Uttar Pradesh were packed with devotees on Sunday for Ram Navami, with Chief Minister Yogi Adityanath leading prayers at the Gorakhnath Temple. Heavy crowds were witnessed at temples in Lucknow, Gorakhpur, and Varanasi, where security was heightened. In Gorakhpur, Adityanath performed the traditional kanya pujan ritual, while in Varanasi, a 51-foot statue of Lord Ram has become a major attraction. The festival was celebrated with enthusiastic fervor across the state.
'It is nice that the banking system is in good shape.' 'It is a little early to call it too good because I think it was too bad in the past.'
By acting now, you can step into 2025 with your finances in order and without unnecessary penalties.
The net leasing of Grade-A commercial office space in India will stagnate this financial year at 32-34 million square feet, with global uncertainties brewing caution among key tenant categories, according to the latest Crisil Ratings report. Major seven cities in India - Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Pune - had Grade-A office space with an operational stock of around 705 million square feet as of March 2023. India's commercial office space is dominated by technology companies, with information technology (IT) and IT-enabled services (ITeS) companies occupying 42-45 per cent of the operational stock.
Market downturns or regulatory shifts can reduce liquidity, making it harder to buy or sell assets when needed.
One97 Communications (OCL), the company that operates brand Paytm, received a nod from the National Payments Corporation of India (NPCI) to onboard new Unified Payments Interface (UPI) users. This comes nearly nine months after the Reserve Bank of India (RBI) placed an embargo on OCL to add new customers.
In a move to strengthen governance in private sector banks and wholly-owned subsidiaries of foreign banks, the Reserve Bank of India (RBI) on Wednesday directed them to have at least two wholetime directors. Lenders that do not meet the requirement will have to submit the names for the RBI's approval within four months. Banks need prior approval from the banking regulator for the appointment of wholetime directors.
The first quarter of calendar 2023 will see new faces heading four large public-sector banks -- Canara Bank, Bank of Baroda, Indian Overseas Bank, and Bank of India.
'We are focused on playing on our strengths, which are technology, and building a large profitable business by working with banks as well as non-banks and NBFCs for loans.'
The federal agency issued a statement, saying it has attached fresh assets worth more than Rs 35 crore that are "beneficially-owned and controlled" by the PFI "in the name of various trusts, companies and individuals" as part of its ongoing probe against the outfit and entities linked to it.
'We asked them to withdraw these instructions immediately.
'We said, "If you don't withdraw, we are going to give a call that from tomorrow officers will totally boycott these instructions".'
rediffGURU T S Khurana answers readers' personal income tax queries.
Foreign portfolio investors (FPIs) sold shares worth Rs 20,170 crore ($2.4 billion) recently. This marked the fifth-highest weekly outflow from overseas funds since the beginning of 2008 and the largest since the last week of March 2020. Due to the Covid scare, FPIs had sold shares worth Rs 21,951 crore during that week, causing the market to decline by nearly 20 per cent.
Six US Congressmen have written to the Attorney General of the United States expressing concerns over the Department of Justice's indictment of the Adani Group, alleging it jeopardizes relations with India. The letter, signed by Lance Gooden, Pat Fallon, Mike Haridopolos, Brandon Gill, William R Timmmons, and Brian Babin, criticizes the Biden administration's decision to pursue the case, arguing that it has no real injury to US interests and could negatively impact the strategic partnership between the US and India. The Congressmen call for an investigation into the DOJ's conduct and request records pertaining to the case.
Co-lending deals between non-banking financial companies (NBFCs) and banks are likely to rise after the Reserve Bank of India's (RBI's) decision to increase the risk weight on consumer credit, industry leaders and experts say. Smaller NBFCs, they add, may increasingly opt for co-lending as capital markets could become costlier for them. "Smaller NBFCs will be more comfortable with co-lending because they are geography-specific in terms of industry or customers.
Postings to places at an altitude above 1,000 metres but less than 1,500 metres, between 1,500 and 3,000 metres, and above 3,000 metres entail different rates of allowances -- the higher the location, the bigger the allowance, reveals Tamal Bandyopadhyay.
Flipkart-backed super.money is on an expansion spree and plans to expand its range of offerings in credit and wealth management after launching its operations in July this year. The Bengaluru-based fintech company is on track to roll out credit products such as credit on Unified Payments Interface (UPI), unsecured credit cards, and personal loans within the first half of the next calendar year (2025).
If they are made accountable, bad loan cases will shrink dramatically, recoveries will rise, and the NCLT process will be more manageable, asserts Debashis Basu.
The recent run on the US-based Silicon Valley Bank (SVB) and the subsequent seizure of its assets by the regulators may have sparked a global wave of risk aversion, particularly for start-ups. However, the Indian banking sector is unlikely to be a victim of any contagion effects, said analysts. he bank, which played a big role in financing start-ups and technology players, faced stress after incurring huge losses on its holdings of US bonds, following the most-aggressive monetary tightening cycle by the Federal Reserve in around four decades.
Reserve Bank Governor Shaktikanta Das on Tuesday said the fiscal-monetary coordination was at its best during the last six years even as he thanked Prime Minister Narendra Modi for giving the opportunity to head the monetary authority of the country. Das, in a series of posts on X, on his last day of his six-year term as RBI Governor, also thanked the Finance Minister, various stakeholders and his colleagues at the central bank.
The staff of public sector banks had gone on a nationwide strike for two days beginning February 10 after discussions with the IBA failed.
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
The most striking features of this Budget was its focus on simplification and improving the ease of doing business in India, asserts Kaku Nakhate.
RBI's oversight cadre move creates HR trouble, officers threaten agitation.
The Reserve Bank of India (RBI) on Monday said 97.87 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,581 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation. The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, has declined to Rs 7,581 crore at the close of business on June 28, 2024.
'We have seen something do very well when the times are good but maybe not as well when the times are bad.'
