Retail inflation declined to an 18-month low of 4.7 per cent in April mainly due to falling prices of vegetables, oils and fats, and came closer to Reserve Bank's target of 4 per cent, showed government data released Friday. It was for the second month in a row that Consumer Price Index (CPI) based inflation remained within the RBI's comfort zone of below 6 per cent. The government has tasked the central bank to ensure retail inflation remains at 4 per cent with a margin of 2 per cent on either side.
Retail inflation fell to a 15-month low of 5.66 per cent in March, mainly due to a decline in food prices, government data showed on Wednesday. The inflation figure in March is within the RBI's comfort zone as it is below 6 per cent. The retail inflation based on Consumer Price Index (CPI) was 6.44 per cent in February 2023 and 6.95 per cent in the year-ago period.
India witnessed a 12 per cent year-on-year (YoY) jump in total household wealth last year, at $14,225 billion, according to the Global Wealth Report 2022 by Credit Suisse. The report also forecasts the number of millionaires in the country to more than double from 796,000 in 2021 to 1.6 million in 2026. According to the report, which is based on data for the wealth holdings of 5.3 billion adults across nearly 200 countries, global household wealth rose 9.8 per cent in 2021 to $463.6 trillion, driven by widespread gains in share prices and a favourable environment created by central bank policies in 2020 to lower interest rates but at the cost of inflationary pressure.
The Centre has imposed a ban on the Popular Front of India (PFI) and several of its associates for their alleged terror activities.
Bank employees body AIBEA, which is a major constituent of the United Forum of Bank Employees' Association that has called a nationwide strike, on Tuesday said Finance Minister P Chidambaram rejecting wage demands of bank employees is "unfortunate" and the strike was forced on them.
The overall debt servicing metrics of Indian corporates are weak.
'Hacking of an ID or an account will have the same impact on a user in a city and one in a small town.' 'Security is like a railroad, you create it to last for every customer.'
The move will have cascading effects for lot of related sectors
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This means individuals like Vikram Pandit, former Citibank chief, can be a promoter only if he comes back to the country permanently.
Non-compliance can also result in legal complications and disputes with the tax authorities.
Mutual funds' average cash holdings in equity schemes topped 6 per cent in February as fund managers went slow on deployment of new inflows on expectations of better buying opportunities amid uncertainties in the market.
The common man in India is bogged down by corruption and there is a need to fix accountability at all levels, the Supreme Court observed on Friday as it dealt with a petition seeking debarment of those against whom charges have been framed in criminal cases from contesting elections.
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.'
'The Israeli government is saying, "OK, leave northern Gaza, because we're going to fight Hamas there".' 'But Hamas is not stupid. They are going to put militants in southern Gaza too. And then what's Israel going to do?' 'At some point are they going to say, 'Leave southern Gaza too because we want to fight Hamas there? Go across the border to Egypt"'? 'That's what people are worried about. Because they fear that once they cross the border into Egypt there will be no coming back.'
The Enforcement Directorate has issued fresh summons to Jharkhand Chief Minister Hemant Soren to appear before it in Ranchi on November 17 for questioning in a money laundering case linked to alleged illegal mining in the state, official sources said Wednesday.
Bankers seem to be pleased with the government for keeping its promise of not interfering in operational matters, but are apprehensive about the intense scrutiny of their functioning.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Bandhan Bank is the first bank to be launched in eastern India post Independence.
The agency detected the fixed deposits in State Bank of India, Axis Bank and Bank of India during the questioning of several close aides of Mondal and other witnesses during its ongoing probe in the case, they said.
The Jharkhand Mukti Morcha leader had asked the ED to advance the date of appearance to November 16, which has not been agreed to by the agency, they said.
Ananthasubramanian, 55, started her career in 1982 at Bank of Baroda as a specialist officer in the planning stream.
American writer HP Lovecraft famously said that the oldest and strongest of fears is the fear of the unknown. For present-day advertisers and celebrities, this fear is showing up in the response they receive from social media to their brand communication. This is something AU Small Finance Bank and online food delivery platform Zomato recently experienced with their advertisements.
Cricket South Africa (CSA) on Monday announced a new partnership with dairy major Amul for the T20I series in India.
With almost all opposition parties too backing the 'Bharat bandh' and many announcing parallel protests in support of the farmers, the Centre has issued an advisory directing the states and Union Territories to tighten security and ensure peace is maintained.
Monthly systematic investment plan (SIP) flows into India have held steady above Rs 13,000 crore in 2022-23 (FY23) in the face of markets delivering muted returns in 18 months. However, it is not a rose-tinted view when it comes to viewing new SIP registrations and the cessation of existing ones. The ratio of SIPs stopped as a percentage of fresh SIPs registered (called SIP stoppage or closure ratio in industry parlance) stood at 56 per cent in the first 11 months of FY23, compared with 41 per cent during the same period of 2021-22 (FY22).
Gianiji had crafted his moves with the meticulous planning of a chess grandmaster. He did not know whether a checkmate was feasible, as his time was running out, but he wanted Rajiv Gandhi to smell the fear of loss. A fascinating excerpt from K C Singh's The Indian President: An Insider's Account of the Zail Singh Years.
The issue price for Sovereign Gold Bond Scheme 2021-22, which will open for subscription for five days from November 29, has been fixed at Rs 4,791 per gram of gold, the Reserve Bank of India said on Friday. The Sovereign Gold Bond Scheme 2021-22 - Series VIII will be open for subscription from November 29 - December 03, 2021. "The nominal value of the bond...works out to Rs 4,791 per gram of gold," the RBI said.
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
PSB branches will work fulltime on the 1st and 3rd Saturday.
'We feel there is definitely something murky in the system.' 'Will anyone believe that Nirav Modi will go to a branch and bribe a low-level officer?' 'Just look at the people with whom he had moved around.'
Since April, India has seen multiple strains of the coronanavirus sweep the nation, upending life and businesses alike. Out-of-home retail and discretionary categories such as durables, auto, fashion, lifestyle, hospitality, food services, travel, and tourism have been the worst-hit as Covid cases remain high, leaving state governments with no option but to curtail mobility and economic activity.
The Modi PMO is like none other: It is staffed by people who are so low profile that the only dominant personality is the Prime Minister's.
The Supreme Court on Friday said there should be a robust mechanism to ensure that the interests of Indian investors are protected in the stock market and sought views of the Centre and market regulator SEBI on PILs alleging exploitation of innocent investors and "artificial crashing" of the Adani group's stock value.
Net investments in active equity mutual fund (MF) schemes rose to Rs 7,300 crore in December after declining to a 21-month low of Rs 2,260 crore in November, shows the latest data from the Association of Mutual Funds in India (Amfi). The rebound in net inflows was driven by a surge in investments and moderation in redemptions. While the inflows into these schemes rose 5 per cent month-on-month (MoM) in December, the redemptions were 14 per cent lower compared to November.
Only a few thousand chargers dot the Indian landscape, some in working condition, others not, with some held hostage to the power supply vagaries of local utilities, reports S Dinakar.
The Centre has no objection to a proposal for setting up a panel of domain experts to look into strengthening the regulatory mechanisms for the stock market, the Supreme Court was told on Monday while it was hearing pleas relating to the Adani stocks rout after the Hindenburg report.
"This is the third year in a row that India makes to top 10 in Doing Business, which is a success which very few countries have done over the 20 years of the project, Without exception, the other countries that have done this are very small, population-wise, and homogeneous," Simeon Djankov, Director of Development Economics at the World bank told PTI in an interview.
Open order books in February breach 700,000; wait period for some models exceed a year.
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