The country's largest private lender HDFC Bank is planning to facilitate a shift in its payments module from the existing core banking platform. This would ensure minimal payments downtime, even if core banking is not available. "This 15-month project will be followed by hollowing the customer-master modules from its existing core systems. "It will ensure a single system of record for customers across various products," said Sashidhar Jagdishan, managing director (MD) & chief executive officer (CEO), in the annual report for 2021-22.
The stock exchange BSE has called off the merger of its unit at the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC), India International Exchange (India INX), with NSE International Exchange (NSE IX), a similar unit floated by rival National Stock Exchange (NSE), according to sources familiar with the development. BSE and NSE had been in discussions for the merger for over a year, but it has yielded no results, they said.
The heat wave is likely to impact parts of Jammu and Kashmir, Himachal Pradesh, Uttarakhand, Punjab, Haryana, Delhi, Rajasthan, Madhya Pradesh, Jharkhand, Odisha and Gangetic West Bengal, the Met office said.
The chief adviser alleged elections held under Hasina's regime were "rigged blatantly and generations of young people grew up without exercising their voting rights."
The central government has asked public sector undertakings to dissuade their employees from participating in the bandh.
To minimise risk, invest in a debt fund whose duration matches your investment timeframe.
'We may see little softness in liquidity position after the stabilisation of the government.'
'We are sure FY25 is going to be better...But to call out that all problems are behind us is a bit early.' 'The underlying business sentiment has not changed significantly.'
The strike call by the Federation is to protest the alleged failure of the State Bank of India management to implement an agreement reached between them on service conditions of officers, it said in a statement.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
The notice requested Rashid or a representative of his to appear before the district expenditure monitoring committee within two days to address the discrepancy and ensure timely submission of the expenditure report to the Election Commission of India.
The Centre on Monday made public the rules under the recently-notified anti-paper leak law, mandating the National Recruitment Agency (NRA) to prepare norms, standards and guidelines for the computer-based tests among others.
We are, therefore, setting up more branches in more tertiary terms, like tier 2 and tier 3 terms. Going forward, that is where the growth will come.
The real estate sector wants "high-impact" measures, like special schemes and tax breaks for developers, to revive the fortunes of the affordable housing segment in the country, multiple executives told Business Standard. This segment has been struggling since the Covid-19 outbreak, in contrast to larger and costlier homes which have been selling like hot cakes. The demand comes at a time when the government is taking suggestions from industry players before tabling the General Budget in the Parliament next month.
Union Minister of Commerce and Industry Piyush Goyal's recent comments on large e-commerce players have reignited the debate about their impact on smaller offline retailers. On Wednesday, Goyal said that the rapid growth of e-commerce in India is a "cause for concern" and is diminishing the market share of small, mom-and-pop stores by offering high-margin products such as consumer electronics and apparel at discounted rates.
The case against Balaji and his aides pertains to his tenure as the state transport minister in the All India Anna Dravida Munnetra Kazhagam government during 2011-15.
The Indian Post Payments Bank will be a boon to Indians who live in rural areas. India has 154,000 post offices, of which 139,000 are rural.
Longer-tenure FDs generally give higher returns. Nonetheless, going for a tenure higher than two to three years is not advisable.
'The film-literate public in Kerala are not happy watching run-of-the-mill movies.'
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
On Thursday, in his first interview with the local media since assuming office, Muizzu said India was instrumental in providing aid to the Maldives and has implemented the "greatest number" of projects.
An exclusive excerpt from The Tatas: How A Family Built A Business And A Nation.
The BJP cited the amendments to the Representation of People Act, 1951 and the relevant portions of the Reserve Bank of India Act and the Income Tax Act for not revealing its donors.
Tata Realty and Infrastructure, a subsidiary of Tata Sons, is looking to expand its business with over 50 projects across major cities in India, Sri Lanka, and the Maldives. The combined projects boast a development potential exceeding 51 million sq ft, according to a top executive. The Mumbai-based real estate major has completed the first phase of project developments in Male (the Maldives), and is gearing up for the second phase. It has also expanded its footprint in Sri Lanka and plans to add about 2 million sq ft. in Colombo.
In the backdrop of the crisis brewing at Paytm Payments Bank, major fintech companies are ramping up their workforce and inducting new faces in their leadership teams, industry sources said on Wednesday. Users will not be able to add funds to their Paytm Payments Bank Wallet after February 29, though they will still be able to use the services and the existing balance in the wallets, according to the Reserve Bank of India (RBI) diktat. Industry sources said that competitors to Paytm are investing heavily in offline payments while doubling their salesforce.
Retail inflation increased to four-month high of 5.08 per cent in June as food items, including vegetables became dearer, according to government data released on Friday. The Consumer Price Index (CPI) based retail inflation was on a decline since January, before rising again in June. The CPI-based retail inflation was 4.8 per cent in May 2024 and 4.87 per cent in June 2023.
Many from this small lender have made it to other bank boards over the past 5 years
After opening close to 1,500 branches in 2022-23, HDFC Bank, the country's largest private sector lender, will continue expanding its branch network at the same speed in the current financial year. The lender says branch expansion is crucial for deposit mobilisation. As of March 31, 2023, HDFC Bank had 7,821 branches, up from 6,342 a year ago.
Disengagement from the LAC will remain a chimera because China has given enough indications that the PLA will not move back any more. China has even deployed drones to monitor and deny any patrolling by Indian troops even in the buffer zones which are all in Indian Territory, explains Lieutenant General Prakash Katoch (retd).
Deutsche India, which houses the largest technology centre of German investment bank Deutsche Bank, is expanding its operations in India and hiring thousands. "Since January 2023, we have hired more than 2,500 people for Deutsche India and expect a positive trend to continue for the rest of 2023," Dilipkumar Khandelwal, chief executive officer of Deutsche India and Global Head of Technology Centers told 'Business Standard'. "We will continue to hire in the similar range even for the next year." Deutsche India has about 16,000 employees in the country and most of them are engineers.
'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession.
As required, Modi submitted the affidavit while filing his nomination papers Tuesday as an election candidate from the Varanasi parliamentary constituency, a seat he has held twice earlier.
The State Bank of India (SBI) on Tuesday evening submitted details of electoral bonds to the Election Commission of India in compliance with the Supreme Court order.
As many as 80-85 per cent Paytm wallet users will not face any disruption because of regulatory actions, and the remaining users have been advised to link their apps to other banks, RBI Governor Shaktikanta Das said on Wednesday. The Reserve Bank of India on January 31 barred Paytm Payments Bank Ltd (PPBL) from accepting deposits, credit transactions, or top-ups in any customer accounts.
French organisers turned Paris into an open-air Olympic playground where everyone was invited, with or without a ticket.
The commerce department has reaffirmed its plans to launch the 'Trade Connect' e-platform to help exporters connect with stakeholders of international trade, as a part of the new government's 100-day action plan, a senior government official said.
Only borrow an amount that can be repaid comfortably. The ratio of total EMI to take-home salary should not exceed 40 per cent.
Moody's Ratings on Thursday raised India's GDP growth forecast for FY24 to around 8 per cent from 6.6 per cent on the back of strong domestic consumption and capital expenditure. The estimate comes a day after RBI Governor Shaktikanta Das said the economic growth in the current financial year could be close to 8 per cent in view of the third quarter GDP data released by the government. The latest estimate of Moody's is about 140 basis points higher than the earlier projection of 6.6 per cent made in November 2023.
Shah said the present Lok Sabha elections are about "choosing between corrupt leaders of INDI alliance and honest politician Narendra Modi, who despite being Chief Minister and then Prime Minister never had an allegation of single paisa against him."
Bandi Sanjay Kumar, who took oath as minister in the Narendra Modi cabinet on Sunday, weathered political storms and intra-party bickering before he could successfully establish himself as a firebrand BJP leader in Telangana.
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