'Every time a new tech comes in, there are a set of people who will predict that this will be the end of Indian IT and every time the Indian IT industry and overall technology providers have proven to be resilient.'
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
'The highlight of the interview process is it is robotic.'
In the jobs created in 2022, the share of those in the age group 18-25 increased to at least a five-year high of 56 per cent. A Business Standard analysis of the monthly Employees' Provident Fund Organisation (EPFO) payroll data shows in 2018 the share of youths among the new EPFO subscribers was 50.9 per cent. The National Statistical Office is releasing the monthly EPFO payroll data since April 2018 as part of the government's effort to track formal-sector employment by using payrolls as an instrument.
Risks are increasing with 55 times increase in such transactions over the past three years, says a Assocham-PwC report
The Enforcement Directorate on Saturday said it has searched the Bengaluru-located office and residential premises of Edtech major BYJU's and its CEO and co-founder Raveendran Byju and seized 'incriminating' documents and digital data as part of a foreign exchange violation probe.
Those with plans to enter the wealth management business want to first put in place robust processes.
'Currently, 81 per cent of all reserved tickets are booked through e-ticketing.'
With the deal closing, SoftBank becomes an investor in two of India's largest on-demand cab service -- Uber and Ola.
Populism gains momentum during election periods, and this trend is evident in at least four states: Telangana, Rajasthan, Madhya Pradesh and Chhattisgarh.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
To manage anxious crowds, as many as 3,400 personnel of paramilitary and Delhi Police along with 200 quick reaction teams have been deployed at ATMs and banks.
Against an offer of 4.55 crore shares of Adani Enterprises Ltd, only 4.7 lakh were subscribed, according to information available from the BSE. Adani Enterprises fell almost 20 per cent to below the offer price of its secondary sale as all the seven listed companies of the conglomerate took a beating in the aftermath of Hindenberg Reserach alleged that the group was "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".
Still the Reserve Bank of India will operate as usual and can provide funds via its overnight repo window, traders also said.
'They are not tom-tomming what a great thing the Supreme Court decision is.' 'If they say it was a great thing, the public will react because people suffered and are still suffering.'
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
According to RBI's circular, cases of frauds involving more than Rs 25 crore and up to Rs 50 crore should be given to the CBI's Banking Security and Fraud Cell
Analysts say strengthening bank's capital will boost earnings, bank needs chief with long stint to run show
The development assumes significance as Prime Minister Narendra Modi had last month announced 10 lakh government recruitments in the next 1.5 years.
The Reserve Bank of india is likely to tell state-run United Bank of India (UBI), which has seen erosion of capital due to bad loans and higher provisioning to implement prompt corrective action.
The Reserve Bank of India (RBI) is planning to introduce plastic currency notes as an experiment in five cities.
The best possible way to deal with job uncertainty is accepting the fact that it could happen to anyone and if it does, then it is important to work on a multi-pronged strategy on how to get through it in the best possible manner, advises Sumit Sabharwal.
Days after the fraud allegedly masterminded by diamantaire Nirav Modi came to light, the prime minister asked the management of financial institutions as well as the supervisory bodies to do their job diligently to check such frauds.
Despite the rating agency CARE withdrawing the ratings assigned to the bank facilities of FIPL "with immediate effect" following the receipt of a no-objection certificate (NOC) from the banks, Modi's company received uninterrupted letters of undertaking (LoUs) from PNB, which were honoured by other banks until a few weeks ago.
Trading activity was adversely affected at the Interbank Foreign Exchange market early on Wednesday because of thin attendance due to the Mumbai bandh called by the Opposition parties in the state.
The entire HSBC list features names of 1,668 Indians
'FDs should hold your emergency funds, equivalent to around 6-12 times your monthly expenses.'
Sharma to step down as Axis Bank chief on December 31.
'Second Innings Tap VRS-2020' will be opened to all permanent officers and staff who have put in 25 years of service or completed 55 years of age on the cut-off date.
The National Company Law Tribunal (NCLT) on Thursday reserved its order on crisis-hit airline Go First's plea seeking voluntary insolvency resolution proceedings and interim moratorium on financial obligations while aircraft lessors vehemently opposed the petition. Amid the airline facing severe financial crunch and cancelling flights, a two-member NCLT bench comprising Justice Ramalingam Sudhakar and Member L N Gupta heard the arguments for and against the petition for nearly four hours. As aircraft lessors opposed the plea, the counsels for Go First said the petition was not a malicious one to avoid payment of dues to its creditors but to save the company.
Twenty years after the burning of a train in Godhra killed 59 'karsevaks' and triggered one of India's worst post-Partition riots, the poll-scape reflects the yawning gulf between the two communities.
The proposed amalgamation will make Bank of Baroda, which will merge the other two lenders with itself, the second largest public sector bank after State Bank of India in place of Punjab National Bank.
Even as India's internet base continues to widen, with the country set to have over 900 internet users by 2025, a parallel rise in cyber threats has become a matter of huge concern. Experts say that the sudden surge in digital adoption left little time to develop a cybersecurity backbone for the country. This has put large amounts of data at risk.
RBI Governor Raghuram Rajan wanted to improve training for staff, through initiatives such as sending them to other central banks for short stints.
Some believe the shift to mobile-based transactions will be seamless considering that the urban tele-density is 148%. In rural areas, it is touching 51%. But smartphone penetration in India is a mere 12%. Growth of mobile money has been extremely slow: It is currently 1%.
With the Big Four information technology services players having disappointed the Street, the focus is on mid-cap IT players who seem to have met expectations, according to analyst reports and management commentary on the demand environment.
The decision of the Reserve Bank of India (RBI) to allow banks to engage companies with large retail outlets as business correspondents has the potential to change the future of financial inclusion and branch banking in India.
A whopping Rs 62,476 crore has been "illegally" transferred by smartphone maker Vivo to China in order to avoid payment of taxes in India, the Enforcement Directorate said Thursday, as it claimed to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies. This money is almost half of Vivo's turnover of Rs 1,25,185 crore, it said without stating the time period of the transaction. The crackdown on the leading Chinese company came after the federal probe agency found that three Chinese nationals, all of whom "left" India during 2018-21, and one other person from that country incorporated as many as 23 companies in India in which they were also helped by a Chartered Accountant, Nitin Garg.
The Indian government has received sensitive information from its German counterpart regarding tax evaders, who have channelled money in a tax haven bank in Liechtenstein, a small European country known for hosting such banks, and it is unwilling to make these details public.
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