'Foreign capital will continue to come directly into India, but companies have realised that GIFT City is a more cost-efficient way of channelling funds.'
'We have seen something do very well when the times are good but maybe not as well when the times are bad.'
AQuity Solutions is a leading tech-enabled clinical documentation, medical coding and revenue integrity solutions provider in the healthcare domain. On the other hand, IKS Health provides administrative, clinical and operational services to clinicians.
The interest charged on an inter-state loan given to a credit card holder without the use of a plastic card would not be subject to the integrated goods and services tax (IGST), a two-judge bench of the Calcutta high court has ruled. In this connection, it recently set aside a ruling by a single judge of the high court. The issue was a loan of Rs 650,000 granted by Citi Bank with an EMI of Rs 58,056 for 12 months and inclusive of integrated GST (IGST) on each installment of interest.
Higher for longer' may be the narrative in the developed markets, but interest rates might not stay high for very long in India, with a section of the market expecting rate cuts to begin this year. The six-member Monetary Policy Committee of Reserve Bank of India (RBI) decided to keep interest rates unchanged at 6.5 per cent in the April review - after hiking the policy repo rate in six previous meetings. RBI Governor Shaktikanta Das emphasised that the pause was only for the April policy and that the central bank was ready to act if the situation demanded.
Learning perhaps from the Kargil debacle, Musharraf tried hard to evolve as a statesman in his dealings with India, recalls Rana Banerji, who headed the Pakistan desk at RA&W.
Tata Steel's European arm, Corus, the second-largest steel maker on that continent, has appointed Citibank to help find a suitable buyer for its beleaguered Teesside Cast Products factory in northeast Britain.
Citi Bank on Wednesday joined the list of foreign banks that have exited the retail banking business in India as the US-based banking giant announced selling its consumer banking portfolio to Axis Bank for an estimated Rs 12,325 crore. Global banking majors such as ANZ Grindlays, RBS, Commonwealth Bank of Australia have scaled down their operations in India. In a mega-deal announcement on Wednesday, Axis Bank and Citibank said their boards have approved acquisition of Citibank's consumer businesses in India by Axis Bank.
'We will see footfall returning to pre-COVID levels by January.'
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
Its obsession for growth, chasing corporate clients and giving up its original mandate of meeting the needs of local trade and businesses. A quarter of its loan book has gone bad. That's an error of business strategy, points out Tamal Bandyopadhyay.
Four Hinduja brothers -- Srichand, Gopichand, Prakash and Ashok -- had in 2014 signed on a document saying the assets held by one brother belong to all, and that each of them will appoint the others as their executors. But now family patriarch Srichand Hinduja, 84, and his daughter Vinoo want the letter to be declared of "no legal effect" and the family's assets be separated as per his wish of 2016.
Before taking such loans, compare the interest rates charged by various players, advises Sanjay Kumar Singh.
In April 2015, the regulator issued a show cause notice to the bank for alleged violation of portfolio managers' norms with respect to one relationship manager.
While some of the banks mentioned in the report said they have not come across any such fake apps, others have started an inquiry and also informed the CERT-In -- the national nodal agency for responding to computer security incident.
As the government plans to take sector-specific steps to tackle the slump, Finance minister Nirmala Sitharaman will soon hold talks with representatives from various sectors to get and take steps so that the confidence of those sectors can be restored.
Since December 2018, monetary policy has been eased substantially by RBI with policy rates being cut by 75 bps and policy outlook being changed to 'accommodative'.
Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 cases were reported by the ICICI Bank.
Forum president M G Rahatgaonkar and Member Jyoti Mandhale observed in their order that the complainant had not filed the complaint within the specified time frame (the case pertains to 2006) and hence it was being disposed off.
From Samsung to Apple iPhone XR, smartphone firms are showering discounts in April.
The Korean giant Samsung will be hiring them.
The key features of the product include a dedicated priority service platform, superior foreign exchange rates on inward remittances and lower service charges on banking services, a release said.
Sanjay Nayar is said to be joining Kohlberg Kravis Roberts & Co as its CEO and Country Head in the country.
The Ruias have received overwhelming response from international banks for funding of their proposed bid to pick up Hutchison's 67 per cent equity stake in Hutchison-Essar Ltd, in which they hold the remaining stake.
A consortium of bankers that will fund the Ruias' bid for Hutchison's 67 per cent equity stake in Hutchison Essar Ltd will begin "due diligence" on the company in the next few days
Top corporates have paid more advance tax in second quarter this year.
Taxi passengers in Bangkok will soon be able to pay their fares with a credit card, making Thailand the first country in South East Asia to use the integrated system that comprises an automatic controller, handheld card reader, printer, meter and dis
'Working with Papa was the toughest,' confesses Varun Dhawan.
Reserve Bank of India has slapped a penalty of Rs 500,000 on Citi Group for failing to comply with 'Know Your Customer' guidelines by letting fake stamp scam accused Abdul Karim Telgi and associates to open accounts with the foreign bank.\n\n\n\n
Vishal Kampani said one of the important lessons he learnt from his father was to be humble.
Two non-government organisations run by social activist Teesta Setalvad and her husband have been served notice by the home ministry for alleged violations of the Foreign Contribution Regulation Act and asked to reply within 15 days.
Telecom Regulatory Authority of India Chairman Rahul Khullar said insurance companies have asked for 4-6 weeks to deal with unsolicited commercial call or SMS.
The CBI on Wednesday registered a case against social activist Teesta Setalvad and her organisation for alleged violation of FCRA in recieving funds from abroad without taking prior permission from the home ministry.
In a daring daylight heist, two unidentified armed assailants looted a cash van of around Rs 1.5 crore after allegedly killing an ATM security guard in Kamla Nagar area of North Delhi on Saturday morning.
Neemuchwala will be a big asset when it comes to setting things right.
The 'Smart Cities' project is one that has faced many hurdles.
The order said the NGO has transferred an amount of Rs 2.46 lakh from its foreign contribution designated account to Sabrang Trust domestic account, thus mixing of domestic and foreign funds and violating the rules.
Delivering the key mote address at the Citi's Investor Summit, Jaitley hoped that as a professional organisation the Reserve Bank will take 'the best decision'.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances