The beleaguered Deutsche Bank announced major overhaul of its business, which included discontinuing loss-making equities trading business, creating a new 'bad bank', and cutting 18,000 jobs. Deutsche Equities India employs 35 people, all of whom could face the job axe.
Foreign portfolio investors' (FPIs') net investment in the domestic debt market in October was the third highest during the current calendar year as foreign investors rushed to lock in higher returns amid global uncertainty and geo-political tensions, market participants said. FPI inflows in debt stood at Rs 6, 322 crore in October against Rs 768 crore in September, according to data on the National Securities Depository Limited (NSDL). Market participants said that the majority of the inflows were channelled through corporate bonds.
'I remember that when I was about seven years old, a doctor saw me and told my family that I would only survive for six months and that the disease had no cure. But my mother never gave up. She would always say, 'My son is born to become a renowned wrestler'.'
The Bill allows stopping of transmission and intercepting messages in case of public emergency, in the interest of the public, to prevent incitement for committing offence.
Inaugurating the solidarity rally, Venugopal, a Rajya Sabha MP, strongly condemned the war unleashed by Israel in Gaza and their attacks against hospitals and refugee camps there.
The Reserve Bank of India on Tuesday banned chartered accountant firm Haribhakti & Co LLP from undertaking any type of audit assignments for regulated entities for a period of two years starting April 1, 2022.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Had it not been for the intellectual dominance and political legitimacy of the Leftist philosophy since 1970, would EPW have become what it did? After all, there were other more established journals around then, says T C A Srinivasa-Raghavan.
'In their over-enthusiasm to clean up the system, both the banks and the regulator should not forget that the key to the insolvency law is revival of companies -- recovery of bank dues is an offshoot of that,' points out Tamal Bandyopadhyay.
A bench directed that only hard copies of supplementary list of inclusions would be published at the NRC seva centers, circle offices and offices of the district magistrates of the state.
Discussion paper fixes Rs 1,000 cr as minimum capital for these specialised banks
The department has a network of more than 150,000 post offices across the country.
With many getting payment reminders, confusion prevails among borrowers, term-plan investors and credit cardholders over the implementation of the three-month moratorium on all loan repayments amid disruptions caused by the coronavirus outbreak. As part of measures to alleviate hardships faced by people, the Reserve Bank of India, on March 27, announced a slew of steps, including a three-month moratorium on loan repayments.
Banks have several deposit schemes, which can be customised for people with varying needs. Deposit accounts can be opened by an individual in his own name (single account) or by two or more individuals jointly (joint account).
Swiss authorities have always maintained that assets held by Indian residents in Switzerland cannot be considered as 'black money' and they actively support India in its fight against tax fraud and evasion.
rediffGURU Chandu Nair advises entrepreneurs and enterprises about how to create and build their business.
Challenges abound but innovation is key for new banks inorder to survive.
Reserve Bank of India said on Thursday that banks would be allowed to use credit derivatives to manage risks relating to lending, including buying protection on loans and investments, to reduce risk.
Recently, Slice, a payment app, acquired a 5 per cent stake in North East Small Finance (NESF) for $3.42 million - the first such deal by a fintech in a small finance bank. Slice (valued at $1.5 billion, and backed by Tiger Global, Blume Ventures and Axis Bank) will technically get a toehold in a scheduled commercial bank if NESF were to get a licence to morph into one down the line Such a transition is well within the banking regulator's declared framework. The transaction has to be seen in a larger context.
After agonizing over this for weeks, he made a decision. When they met after work one evening, he startled her by blurting out, 'I think we should break up.' A moving excerpt from Chitra Banerjee Divakaruni's An Uncommon Love: The Early Life of Sudha and Narayana Murthy.
The strike call is over privatisation, mergers, and also due to write-off of corporate NPAs, criminalisation of willful default
'Try to buy a policy with a lower sum assured or one with a deductible.' 'Those whose spouses work for companies must get themselves enrolled into the employer's group health cover.' 'Some public sector banks also offer group health covers to those who open a savings account with them.'
As many as 6,801 cases of fraud were reported by scheduled commercial banks and select financial institutions involving an amount of Rs 71,542.93 crore in the last fiscal.
Besides Nuh, the services will remain snapped in Faridabad, Palwal and the territorial jurisdiction of sub-division Sohna, Pataudi and Manesar of Gurugram district.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
RBI proposed that at least half of the compensation of a CEO should be variable. It also said that stock options should be part of the variable pay, against the extant practice of keeping it beyond and above the scope of the official compensation package.
Amul had pioneered inclusive growth through work with dairy farmers at grass-root level, changing lives, enhancing income and empowering women.
The Reserve Bank on Friday said it will soon commence the pilot launch of e-rupee for specific use cases with a view to bolstering India's digital economy, making payment systems more efficient, and checking money laundering. In a concept note on Central Bank Digital Currency, the RBI said CBDC is aimed to complement, rather than replace, current forms of money and is envisaged to provide an additional payment avenue to users, not to replace the existing payment systems. "Supported by state-of-the-art payment systems of India that are affordable, accessible, convenient, efficient, safe and secure, the Digital Rupee (e?) system will further bolster India's digital economy, make the monetary and payment systems more efficient and contribute to furthering financial inclusion," the paper said.
'A lot of actors auditioned for Wagle Ki Duniya, but R K Laxman rejected them all.' 'He was the decision-maker, as the serial was based on his Common Man.' 'He wanted a natural, who looked like a common man.'
There will be no charge for RuPay credit card use on Unified Payments Interface (UPI) for transactions up to Rs 2,000 in line with the RBI direction, a recent NPCI circular said. RuPay credit card has been operational for the last four years, and all major banks are enabled and are issuing incremental cards for both commercial and retail segments. "During credit card on-boarding on the apps, the device binding and UPI PIN setting process shall include and be construed as customer consent for credit card enablement for all types of transactions," the circular dated October 4 said.
In what has been billed as 'a unique public-private experiment', an Indian outsourcing company that claims Royal Bank of Scotland and Goldman Sachs as its clients, is to employ inmates at the Cherlapally Central Jail in Hyderabad to help process bank paperwork.
25,600 cases of banking fraud totalling Rs 1.79 billion were reported up to December 2017. 'There is an inherent legacy when it comes to insuring crime.' 'Generally, most banks are uncomfortable in sharing data about employee fraud.'
Dwaipayan Bose examines the seven important factors that investors about exchange traded funds must know before they start investing/trading in them.
Discussions are on in government about how to make the process simpler for the poor and more cost-effective for telecom operators, says Subhomoy Bhattacharjee.
Israel's ministry of defence and the Israel defence forces on Sunday said they are planning to evacuate another 14 communities close to the Lebanese border, The Times of Israel reported.
Despite its admirable competence and proven track record, the RBI doesn't have the capacity to supervise an economy that's growing so fast and becoming larger by the year, points out T C A Srinivasa Raghavan.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
Crypto exchanges have been asked to furnish details this month itself.
Pennsylvania-based Customers will buy shares worth $22 million from the founders.
'It is flabbergasting to think that this heavenly region has, for decades, been coveted by India's aggressive neighbours,' says Claude Arpi after a recent visit to Ladakh. 'Wanting to use the newly created infrastructure to defend the borders after the clash of 2020 with China and the resulting standoffs, the home ministry is keen to boost border tourism to show that these areas are controlled by India.'
