After the finance minister directed public sector banks to join the account aggregator (AA) ecosystem, 5-6 major ones, including State Bank of India (SBI) and Bank of Baroda are expected to go live by July-end. Sahmati, an industry alliance for the AA ecosystem, has been working with PSU banks to get them onboarded for quite some time now. So far, Union Bank of India and Punjab National Bank (PNB) have gone live on the AA ecosystem. While Union Bank has been live for a while, PNB went live earlier this month.
The asset manager is yet to resolve the impasse surrounding the payment of pension to its erstwhile employees who had opted for voluntary retirement in 2003.
Value investor Parag Parikh's sudden death has come asa big jolt to the fraternity.
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
Indian Sellers Collective (ISC), a trade association of micro and small enterprises and family businesses, on Wednesday urged IT veteran NR Narayana Murthy to cooperate in the Competition Commission of India's antitrust probe against Amazon for alleged anti-competitive practices. In 2014, Murthy's Catamaran and Amazon had formed a joint venture, Prione Business Services. On Monday, the partners announced that they have mutually decided not to continue the JV beyond May 2022. ISC thanked Murthy for deciding to end the joint venture with Amazon.
Tax planning should not be left for March. If you do so, you could face a severe cash crunch in that month, warns Sanjay Kumar Singh.
Ajit Mishra, vice president, research, Religare Broking, answers your stock market queries.
Despite price correction, policies that support the yellow metal will remain in place in the foreseeable future.
Kerala's election discourse operates surreptitiously. Its explicit face focuses on important national and local issues. At the same time, it seeks to secure apt communal equations to ensure votes, notes Shyam G Menon.
To select the right platform, get the opinions of a few existing users or browse online for feedback. Select a platform that offers a seamless experience. Check that the platform you are going with is a regulated entity, suggests Sanjay Kumar Singh.
If you have an active trading account or have consumer loans or thinking of taking out a loan, consider investing in NBFCs, says Devangshu Datta
Bundled products often come with restrictions. The customer also gets locked into two products at the same time. This reduces flexibility.
'Making money in such markets is typically harder and investors need to put in considerable effort to identify stock ideas over the year.'
'When we say we want to increase pension participation, do we want to increase participation through the savings route?' 'Or do we want people to save in specific pension products?' asks Renuka Sane.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
High rates of such schemes deter banks from dropping borrowing rates - and thus lending rates
Disney-Star generated advertising revenue of over Rs 27 billion for IPL 2020.
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
Adani Enterprises has 14 resolutions to pass, Adani Ports & SEZ has 13, Adani Power 12.
Sebi directs freezing of all demat accounts not linked to Aadhaar by December 31
Conservative investors and those in the lower tax bracket should opt for these, experts tell Sanjay Kumar Singh
To make money, invest in both good and bad times; otherwise the entire exercise is futile, experts tell Joydeep Ghosh & Sanjay Singh
Finance Minister Arun Jaitley said Sebi would develop new products in the commodity derivatives space apart from taking steps to deepen the corporate bond market.
In August, the Supreme Court had said that the total amount should be deposited within 3 months with its Registry, pending the outcome of the appeal filed by the DLF against the May 19 order of Competition Appellate Tribunal's upholding the penalty imposed by CCI.
The Aam Aadmi Party (AAP) has to deal with 3 powerful enemies: the media, the political establishment, and business houses.
'What is critical today in India is confidence of depositors.' 'If you have these kinds of problems spreading like this, the confidence level of a lot of people in the system gets shaken.'
The onus is on you to reject financial products that don't suit your needs.
But what do banks gain by opening their apps for all? The answer -- rival bank's customers under their fold.
For large start-ups the US market is considered to be a preferred destination, as Indian investors were seen as hesitant to pay the kind of valuation private equity investors or the US markets pay. However, Zomato's listing has quashed these notions.
According to ICRA, even in a high-growth scenario, wherein the second half of FY20 sees the incremental bank credit rise to Rs 6.5-7 trn, there will still be a 40-45% year-on-year decline.
It is a classic case of extremes: The worst contraction in GDP along with the highest-ever levels of cash in the economy; and a severe dent in consumption together with strong growth in bank deposits and digital payments.
'The introduction of a tax on LTCG will be a deterrent for foreign investors and could potentially result in a movement of trading activity away from India to other offshore jurisdictions such as Singapore, which offer better tax rates and sophisticated financial products.'
Equity fund managers say large-caps offer higher relative safety, especially in such times.
Asset managers are betting big on ETFs these days.
According to SBI executives, the aim is to do things efficiently with an eye on profitability, and get a feedback on areas, including which business to enter and which to exit.
Marking a key milestone in the Indian government's fight against black money allegedly stashed abroad, India will get this month the complete information on flats, apartments and condominiums owned by Indians in Switzerland as also on earnings made from such properties to help it look into tax liabilities associated with those assets.
Relations with the government, the bank's majority owner, are a tricky issue for all SBI chiefs, and, like all his predecessors, Khara will be closely watched for his equations with the finance ministry representative on the SBI board.
Reduce frill expenses, monetise your assets and invest in professional development to negotiate the choppy phase.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
