The reduction in the number of loan accounts and the outstanding amount during the last financial year is a cause of concern and stress for microfinance institutions (MFI), Secretary, Department of Financial Services, M Nagaraju said on Thursday, highlighting "inefficiency" in MFIs that leads to higher rates of interest.
We know what Mrs Sitharaman and Mr Chaudhary (who may soon be moving out of the finance ministry to head to Lucknow to take charge as president of the Bharatiya Janata Party's Uttar Pradesh unit) look like, but who are the others in these photographs?
Led by the country's biggest lender State Bank of India (SBI), public sector banks logged a record cumulative profit of Rs 52,603 crore in the third quarter of the current fiscal, reflecting an 18 per cent year-on-year growth.
Capex, infrastructure development, and prudent fiscal management are the key focus areas in the Budget, says Nilesh Shah.
New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. Tariffs on some agricultural products that are not traditionally considered sensitive will be brought down to zero, while in the case of relatively sensitive items, duties will be reduced in a graded manner and quotas will be imposed.
'Global uncertainty is something which definitely occupies the minds of officials when we are preparing for the Budget.'
Following the notification allowing 100 per cent foreign direct investment (FDI) in the insurance sector, the Finance Ministry has revised norms to remove the requirement that a majority of directors and key management personnel in an insurance company with foreign investment be Indian residents.
But selectively, with regulatory scrutiny and special approval, points out Tamal Bandyopadhyay.
India needs to limit its reliance on multinational corporations (MNCs) for strategic audits and consulting in order to strengthen its economic sovereignty and achieve the goal of Atmanirbhar Bharat, the Ministry of Corporate Affairs (MCA) said in an office memorandum released on Wednesday.
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
Given that a sizeable part of this money is part of the coveted current accounts and savings accounts, it is surprising that banks are not in a hurry to revive these accounts, notes Tamal Bandyopdhyay.
At a time when the finance ministry is focusing on addressing employee grievances, the number of employees in most public-sector banks (PSBs) has declined over the last three financial years.
The horrific crime, which resulted in the girl becoming pregnant, came to light on June 9 after she filed a complaint recently.
In 2023-2024, 95 scheduled commercial banks received over 10 million complaints from their customers. The process of KYC at many banks has become 'HYC' -- harass your customer, points out Tamal Bandyopadhyay.
Tensions ran high in Gubbi taluk on Saturday as the farmers' protest against the Hemavati Link Canal project escalated into violence, prompting police to register FIRs. It is said that more FIRs are likely to follow.
Finance Minister Nirmala Sitharaman on Wednesday asked fintech startups to come out with solutions to deal with the rising incidence of digital arrests, cheating by fly-by-night operators, and other kinds of cyber frauds. Speaking at the Digital Payments Awards 2025 ceremony here, the minister credited fintechs with helping speed up financial inclusion and taking the payment system to even the far-flung areas of the country.
While demand for sub Rs 50-lakh affordable housing prevails, market players cite increased land rates, escalated construction costs and low margins as key prohibiting factors.
According to Tirupati district superintendent of police L Subbarayudu, Nagaraju (24), who is the victim's maternal uncle, lured the girl to a secluded place in AM Puram village by offering her snacks on Friday evening and committed the crime.
The revised ceiling will be within the Rs 10 lakh mark.
Markets regulator Sebi is actively working with the Ministry of Finance and other financial regulators on setting up a centralised KYC (Know Your Customer) system, chairman Tuhin Kanta Pandey has said. The Central KYC is an online database that maintains KYC records of customers in a centralised manner, aiming to streamline compliance across financial institutions.
'AI analyses body language, etiquette, and communication skills, providing an in-depth performance matrix and a ranking system to help employees identify areas of improvement.'
Currently, deposits of up to Rs 5 lakh are covered under the deposit-insurance scheme.
This will be the first full-year Budget of the BJP-led National Democratic Alliance government since it came to power for a third consecutive term in July last year.
The Insurance Regulatory and Development Authority of India (Irdai) has asked at least 10 general and life insurance companies to submit a detailed road map for their listing strategies by the end of this month, according to multiple sources with direct knowledge of the matter. "The regulator met four life and six general insurers last month and asked them to provide their listing strategies by the end of February," said one of the sources.
Payments banks have urged the Union finance ministry to increase their deposit limit for each account to Rs 5 lakh, according to a source who participated in a meeting, chaired by the Department of Financial Services Secretary M Nagaraju, in New Delhi. At present, they can accept deposits of up to Rs 2 lakh.
A shocking murder case has surfaced in Venkateswara Colony under Meerpet Police Station limits in Rangareddy district of Telangana.
Congress president Sonia Gandhi has approved the proposal for the candidature of Yadav and Jabbar, the All India Congress Committee said in a release.
The Union Finance Ministry on Tuesday said that aggregate business of public sector banks (PSBs) has shown strong growth of 11 per cent in the first half of the financial year 2024-25 (H1FY25) to touch Rs 236 trillion. The operating and net profit were also robust. At Rs 1.5 trillion, operating profit grew by 14.4 per cent year-on-year (Y-o-Y) while the net profit saw an impressive 25.6 per cent jump at Rs 85,520 crore in the first half of FY25.
Finance Minister Nirmala Sitharman on Monday held a performance review meeting with heads of public sector banks and asked them to make concerted efforts to garner deposits. Deposits have been growing 300-400 basis points lower than the credit growth in the last few months, creating an asset-liability mismatch for banks. During deliberations on the deposit mobilisation, she said that while the credit growth has picked up, mobilisation of deposits could further be improved to fund the credit growth sustainably, and asked banks to make concerted efforts to garner deposits by conducting special drives.
The T-72 tank with five soldiers on board sank due to flash floods while they were crossing the river.
Tilak Varma, who was handed his maiden T20I call-up, posted a series of photos with family and friends before departure, and wrote, 'Blessings from my family and wishes from my friends. Ready for life's next chapter.'
Rising Indian star Tilak Varma's father Namboori Nagaraju, described the influence left-handed batters coach Salam Bayash had over his career.
A 25 year-old Hindu man was brutally killed in broad public view in Hyderabad by his Muslim brother-in law and another person in a case of suspected "honour-killing," with the incident sending shock waves after the gory murder that was caught on camera went viral.
He said a detailed forensic examination will be conducted at the crime scene, including the house of the accused and the adjacent property at Elanthoor village in Pathanamthitta district, where the victims' bodies were buried after being cut into pieces.
The two persons arrested for the murder of a Hindu man in Hyderabad allegedly over his interfaith marriage have been sent to judicial remand even as Telangana Governor Tamilisai Soundararajan on Friday sought a "detailed report" from the state government on the sensational incident.
In the human sacrifice case, a pervert is the prime accused, who exploited the fears of a man and his wife over their financial woes and two women were killed following torture, police said.
What is the Amul Vs Nandini battle. Why does the opposition see red over the Gujarat dairy brand's Bengaluru foray with its brand of milk and curd. An explainer seeks to shed light on the issue.
Senior Congress leader Siddaramaiah on Saturday said the incoming government in Karnataka would not only give its stamp of approval for the five pre-poll guarantees announced by the party in the first cabinet meeting itself but also pass an order to this effect immediately.
It was in the deep hours of Wednesday night Namboori Tilak Varma shared the news of his India selection to his parents, Nagaraju and Gayatri Devi, over a video call.
Nagaraju (25), was previously arrested in seven cases in Telangana and Andhra Pradesh, it said, adding he is a native of Srikakulam District in Andhra Pradesh.
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