India is witnessing its own tech tsunami, and is poised to become the second largest global startup hub by the end of the decade
The idea of the payment banks is to provide access to banking for people, especially in rural areas.
Xi and Modi met soon after their arrival at a summit of the BRICS group of emerging powers. Xi said the two countries should join hands in setting global rules and suggested he attend the November meeting of the 21-nation APEC in Beijing, as well as take part in Chinese-led regional initiatives.
Currently, only three have completed more than six months of operation in the space - Fino Payments Bank, Airtel Payments Bank and Paytm
The amendment would help check round-tripping of funds and boost the domestic consumption, Jaitley added
Soon, one will be able to pay utility bills at the local supermarket, while buying groceries, with the RBI allowing the setting up of payment banks.
Ratan Tata has invested his own money into 3 high-growth online retail firms, which are yet to make a profit.
'The worst is over, but it may take a couple more years for the banking system to re-establish the growth process.' 'Banks are the major pillars in an economy's revival.' 'Without banking operations and lending, revival will not happen.'
'Modi remains the most popular politician in India; the BJP's organisational and fundraising prowess is considerable; and the Opposition, while newly collaborative, has no leader or clear economic messaging as of yet.'
This is the first time in the RBI's history that a governor is leaving without willing to renew his contract
The earlier government was blamed for non-performance, the current one will be rightfully blamed for mismanagement
While listing the matter for hearing on April 27, the bench said that the high court shall provide the judgement passed on Thursday to the parties by April 26 and on the same date the copy of the verdict shall also be placed before the apex court.
As global markets near all-time highs driven by liquidity, Marc Faber suggests most asset prices worldwide are inflated.
Rajan tells RBI colleagues he will be returning to academics
Sanjeev Nayyar visits an Amma canteen in Chennai, and comes back impressed
Saundarya Rajesh has helped more than 8,000 women get back to work.
Indian states are preparing for a Rs 1.9 lakh crore (Rs 1.9 trillion) tax windfall this fiscal year.
The limit under the Liberalized Remittance Scheme (that was earlier $200,000 and now brought down to $75,000) is applicable per person per financial year.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
'Wisdom demands Modi moves to restore the critical institutions of the State and dial back on the cult building around his persona,' say Sonali Ranade and Shealja Sharma.
Jaypee, Essar, GMR, GVK, Lanco, Abhijeet groups debt rise despite falling cash flow, says UBS
The central bank has, so far, cut its repo rate by 125 bps.
'Even if it is difficult to replicate Bangladesh, India can cause sufficient turmoil in Pakistan to keep it off balance,' says Colonel Anil A Athale (retd).
New Delhi can strengthen its leverage by having better relations with the two than they have with each other.
The Indian Navy has just one aircraft carrier. The INS Vikramaditya carries just 26 unreliable MiG-29 fighters and 10 helicopters -- an insufficient capability to battle a serious foe.
'The government has used the current macro situation to its advantage.'
Life insurance offers dual benefits: financial security to your family in case of the policyholder's death as well as helps you save tax, says Alok Patnia.
Gold schemes are offering attractive returns to investors.
In Budget 2015, the finance minister has opted to take the slow road and has doubled the cess on coal to "balance the need to tax pollution and the price of power" in his words.
Bharat Biotech started work on developing a vaccine against Zika way back in 2014.
In April, the World Bank had projected India's GDP would grow at 6.1 per cent in the current financial year and at 6.7 per cent the following year.
Summary of sports events and persons who made news on Thursday
For the region to realise its full potential, New Delhi needs to start looking at the land-locked northeast as an important starting point in India's 'Act East' policy, says Nitin Gokhale
In an online chat with readers January 24, Rajeev Mahajan of Antworks answered queries on personal loans and peer to peer lending.
The sector faces many challenges and calls for prompt corrective action.
The nature of the entity you choose for your business, how you structure its legal form, how conducive you make it to receive funding, compliance with statutes from the outset, are all vital parameters that a good lawyer can lend you his experience with.
Yes, startups neither have a rigid structure, nor do they have to be uptight about things, but basic discipline is a must, and it is in the hands of startup founders to inculcate some rules within the team.
Even a doomsayer like Nouriel Roubini says India is in a sweet spot. If only we'd live up to the promise, says Shekhar Gupta.
Finance Minister must be hoping that Indians get over gold-addiction.
The most preferred CoCo bonds are those through which banks raise their additional Tier-I capital.
