SBI's Bhattacharya is ranked second on the list, while ICICI's Kochhar is 5th and Axis's Sharma is 19th in the Fortune list
Most adult Indians should have access to bank deposits, credit and remittance facilities as well as insurance and mutual fund products in the next decade, and technology will play a big role in this transformation, says Tamal Bandyopadhyay.
Apart from fulfilling banking services, one can access more than 100 e-commerce sites, book tickets, and even pay for small value groceries through the app. The bank is now proposing to allow other banks to use this to serve their own customers.
It's not e-retailers alone. Bankers are also celebrating initiatives like 'Big Billion Day Sale' this festive season.
At ATMs, as a step to avoid getting Rs 2,000 notes, people are withdrawing Rs 1,900 in Rs 100 notes and then putting another request for the balance Rs 600, so that they remain within the limit of Rs 2,500 per day of withdrawal.
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
'Slowly, but surely, India will move towards a low-cash economy.'
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
The broader markets are outperforming the benchmark indices.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
'By not letting bankrupt banks fail, we have discouraged ordinary folk from taking precautions while choosing their bank or at least when they hear bad news about their bank,'says S Muralidharan, former MD, BNP Paribas.
June was a memorable month for the 101-year-old Tamilnad Mercantile Bank (TMB). Last month, the Thoothukudi-based bank witnessed two new landmarks in a history in which the last three decades could easily qualify for a Kollywood blockbuster.
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
CEOs of leading banks say third straight rate hike by RBI inevitable, though not desirable.
As a nationwide strike of trade unions hit banking and other services on Wednesday, business chambers pegged the loss to the economy at a staggering Rs 25,000 crore and said such "disruptive" actions can hit India's image as an attractive business destination.
The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years.
State owned banks SBI and PNB were the top Nifty gainers along with ICICI Bank and auto shares.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
Raghuram Rajan has appointed him as head of several committees soon after taking charge.
RBI has cited at least 10 areas where it has no control over PSBs.
'Our clients need business. For business you need workers and so we decided to help'
It is suggested that you get your SIM locked with which the wallet account is mapped.
As many as 17 locations in Delhi, Mumbai, Hyderabad, Jaipur and Surat were raided by the ED.
'Four weeks have passed after the scam was exposed, yet no big guy has been arrested.' 'This gives the impression that he wants to be soft on the biggies.'
There's surplus liquidity and RBI, with plentiful forex reserves, is ready to pump whatever extra is needed
Paloma Sharma -- the only non-middle aged, non-canine member of the home -- on a Sunday spent at the bank.
Debit card use at POS terminals increasing at rapid clip, transactions at ATMs declining
Increasing awareness about mutual funds, ease of transactions through digitisation and sharp surge in equity markets have aided asset management companies to add a staggering 3.17 crore investor accounts in 2021-22, with experts saying the trend is likely to continue this fiscal as well. This was a significant rise from 2020-21 when 81 lakh accounts (or folios in mutual fund parlance) were opened, data with the Association of Mutual Funds in India (Amfi) showed. The ongoing financial year too appears to be promising in terms of folios as increase in investor accounts will enable people to move beyond fixed deposits and savings accounts, said Priti Rathi Gupta, founder of LXME, a financial platform for women.
Firms in which IP is critical, such as pharma and research and knowledge-based organisations, were taking the lead in seeking cyber covers to protect their computer systems from hack attacks
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries.
In Mumbai, police seized Rs 1.40 crore from three persons in new Rs 2,000 notes.
'I am not scared of corona, I am sure God is protecting us.'
'If there is any industry that is unfit for modern corporate form it is the diamond trade.' 'But no one was asking the right questions.' 'The music was playing and so the game was on,' says S Murlidharan, former MD, BNP Paribas.
Investment in market leaders with a safety-first approach could yield reasonable returns across sectors.
What is Change really like in Bihar? Once seen as India's basket-case, what is its turnaround story like?
'Without it, it is going to be much, much, much, much worse.' 'In the meantime, we really need to work on a sort of war footing, given that it is a natural disaster, provide relief, provide essentials, till we get biological herd immunity, we need to get economic immunity, and also social immunity.'
What is Change really like in Bihar? Once seen as India's basket-case, what is its turnaround story like? Archana Masih reports from India's other most talked about state.
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