HDFC Bank on Monday said it aims to regain the two per cent market share in the credit card market it ceded to rivals during a recent ban, within a year by aggressively tapping into its existing depositor base. The bank will also focus on forging new partnerships to sell more cards and will not deviate from its conservative approach on taking credit risks as it goes aggressive in the market, its group head for payments and consumer finance, digital banking and IT, Parag Rao, told reporters. On August 17, RBI lifted the ban on HDFC Bank which had prevented it from issuing new credit cards from December 2020.
The terms are the same as those suggested by a panel headed by Prime Minister's Economic Advisory Council Chairman C Rangarajan for awarding future oil and gas block contracts.
As a percentage contributor to nominal GDP, PFCE's share was 60.1 per cent in FY23, compared with 59.6 per cent and 60.8 per cent in the two preceding fiscal years. "Although PFCE is expected to grow 7.7 per cent in FY23, we believe it is still short of a broad-based recovery. "The current consumption demand is highly skewed in favour of goods and services consumed largely by the households falling in the upper income bracket. "A broad-based consumption recovery, therefore, is still some distance away," said Sunil Kumar Sinha, principal economist with India Ratings.
Rebound in IT majors TCS and Infosys in late trades helped markets end higher.
He also asserted that within 24 hours of taking oath, he would prove the majority on the floor of the House.
Retail investors need to keep abreast of the news flow that emanates from companies so as to keep better track of their investments.
GSR 592(E) states that all NRIs -- including PIO like your son -- are not eligible to open PPF accounts. The accounts opened prior to all these dates are allowed to run up to their maturity but no extension or renewal can be made.
'We had tremendous faith in honorable Modiji in his second term as he was well-settled. Sadly that has been belied.'
At the BSE, 1,964 stocks declined and 871 advanced while 99 remained unchanged.
"There will be some challenges" in the switchover to GST in the short term, Finance Minister Arun Jaitley has warned.
Dr Reddy's was the top loser in the Sensex pack, shedding around 5 per cent, followed by M&M, Tech Mahindra, Axis Bank, IndusInd Bank and TCS. NSE Nifty sank 306.05 points to finish at 14,675.70.
Financial planners also believe that retail investors should avoid the IPOs or direct stock route because it is too risky for them.
Investing in the US market provides Indian investors a hedge against the rupee's long-term tendency to depreciate against the dollar.
Shares of IT giant Infosys erased early gains and ended with a loss of nearly one per cent on the NSE today on profit-booking after the company named former SAP executive board member Vishal Sikka as its new CEO.
You have sold shares and made profits but don't know what the tax implications will be? Will your profits attract short-term or long-term capital gains tax? Get Ahead tax expert Mahesh Padmanabhan answered these and many more queries related to the tax issues on capital gains and ESOPs.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'India has many attractive features for the long-term investor; it combines: A low per capita income, a young population, and a heavier presence of high margin, asset-light firms in the technology sector.'
The 76-year-old Nepali Congress president, who has served as the prime minister for a record fifth term, defeated his challenger party general secretary Gagan Kumar Thapa by 39 votes, officials said.
Always acknowledge what you don't know and know that there are many paths to an end goal, says three-time founder and CEO Neha Sampat.
Already, there is a feeling even within the BJP's AIADMK ally that the BJP is overdoing things on the ED/I-T front, as corruption is not an election issue in the state -- as long as the people are otherwise not excessively unhappy with the governing party, points out N Sathiya Moorthy.
One of cricket's greatest players passed into the ages on Monday. Rediff.com salutes the legend.
The idea behind starting Chingari is not to build a TikTok clone but to position itself as a super app for India like WeChat.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
Chirag Daruwalla, who is following in the footsteps of his famed astrologer father, the late Bejan Daruwalla, tells you.
ONGC was the top loser in the Sensex pack, shedding 4 per cent, followed by Bharti Airtel, SBI, IndusInd Bank, NTPC, Sun Pharma and ITC. On the other hand, Bajaj Finance, Bajaj Auto, Reliance, Bajaj Finserv and Asian Paints were among the gainers.
The levy of retrospective tax on the UK's Cairn Energy Plc is a tale of bizarre twists and turns that saw its attached shares being sold in May 2018 amid the passing of the baton from a full-time finance minister to interim one and the talks at the highest level to resolve the dispute, to claims that levy of back taxes was a result of an investigation into Panama Papers leak. The government late last month refunded about Rs 7,900 crore it had collected from selling residual shares of the British firm in its erstwhile India unit, seizing dividend and withholding tax refunds, to settle an eight-year-old dispute that had tarred the country's reputation as an investment destination. But, this did not come about easily. For seven years, the establishment vehemently justified in courts and outside seeking of Rs 10,247 crore in back taxes plus interest and penalty from a firm that gave India its biggest onshore oil discovery.
The move is part of recommendations made by a task force on the use of space technology in improving border management which have been accepted by Union Home Minister Rajnath Singh.
The amended India-Mauritius tax treaty has inserted a new clause allowing source-based taxation at 10 per cent on fees paid for technical and consultancy services.
'We actually have a problem because there may be too much activity in India.' 'Markets don't like too much concentration. But we are very happy with our collaborations in India.'
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