'The size of the investments is important, but equally crucial is the number of jobs that these proposals create.'
'Some of the astounding proposals, if translated into statutory provisions, would be suicidal.' 'This would not be a wonder cure for increasing insurance penetration and only result in mushrooming growth of players like paan kiosks with deleterious consequences.'
Currently, banks are closed every second and fourth Saturday of a month. Why shouldn't they be shut every Saturday? When most customers carry their banks in their pocket (the app on the mobile phone), there is no need to keep banks open on Saturdays, argues Tamal Bandyopadhyay.
The creditors of the grounded carrier Jet Airways on Wednesday raised questions over the source of Rs 200 crore deposited by the Jalan-Kalrock Consortium before the insolvency appellate tribunal NCLAT and said it does not align with the resolution plan. Additional Solicitor General N Venkataraman, representing lenders including SBI and other banks, told the National Company Law Appellate Tribunal (NCLAT) that there are apprehensions about the source of funds, which deposited money for Jalan-Kalrock Consortium's (JKC). "The payment is not compliant with the resolution plan as it mandates that the money is to be paid through JKC," ASG submitted before a three-member NCLAT bench headed by chairperson Justice Ashok Bhushan.
India should convert the Trump threat to an India opportunity, re-embracing a more liberal trade regime as a way of reviving manufacturing output and exports.
As many as 26 premises are being searched in these cities by the federal agency under the criminal sections of the Prevention of Money Laundering Act, they said.
Growth in corporate profits needs to be commensurate with wages to boost the economy, Economic Survey 2024-25 said, noting that sharp disparities between the two pose risk to the economy by curbing demand. The document tabled in Parliament on Friday noted that while the labour share of GVA (gross value added) shows a slight uptick, the disproportionate rise in corporate profitsredominantly among large firmsaises concerns about income inequality.
Congress leader Ghulam Ahmad Mir on Thursday promised that LPG cylinders will be provided in Jharkhand at a subsidised rate of Rs 450 even for 'infiltrators', sparking a political row in the midst of assembly elections in the eastern state.
'During his stint as prime minister, he got 270 million people out of poverty.' 'This, according to the World Bank, is the fastest compression of poverty anywhere in the world.' Arvind Mayaram, the former finance secretary, recalls his encounters with Dr Manmohan Singh.
Rogue lending under political influence was rife in the Congress-led regime and is not happening in the Modi regime, certainly not on that scale. But if PSBs cannot lend as indiscriminately as they did last time in the name of 'credit expansion', how well will these banks do, asks Debashis Basu.
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
The Union home ministry has cancelled the Foreign Contribution Regulation Act (FCRA) registration of the Centre for Policy Research (CPR) for alleged violation of laws, a move the public think-tank termed "incomprehensible and disproportionate" and vowed to seek legal recourse against.
'Banks may find small ticket size lending economically unviable due to the cost of branch operations.'
Bandhan Bank has declared disappointing results for the first quarter of the 2023-24 financial year (Q1FY24). While the market has been braced for known issues around microfinance exposures in West Bengal and Assam, there is higher stress in the portfolio. This means higher credit costs and poorer asset quality, leading to target downgrades by analysts.
Guaranteeing a loan requires careful analysis before making the decision; you should not guarantee a loan just because a friend or acquaintance has asked you to do so, warns Rajiv Raj
Against varying claims its SGF ranged from Rs 839 crore (Rs 8.39 billion) to Rs 62 crore (Rs 620 million), between July 29 and August 14, the bourse had Rs 84.66 lakh (Rs 8.46 million) in the actual SGF.
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
The police received over 500 complaints alleging that many social media influencers and YouTubers promoted the HIBOX mobile application on their pages and lured people into investing through the app, the officer said.
Edtech company Byju's parent Think & Learn will challenge the National Company Law Tribunal's (NCLT's) order on insolvency proceedings and may approach the National Company Law Appellate Tribunal (NCLAT) in the next few days, a source claimed. With the NCLT appointing Pankaj Srivastava as the interim resolution professional (IRP), time is running out for Byju's as the committee of creditors (CoC) begins to be formed.
IndusInd Bank had moved NCLT claiming default of Rs 83.08 crore against the media & entertainment firm. The petition, to initiate insolvency proceedings against ZEEL, has been filed under section 7 of the Insolvency & Bankruptcy Code (IBC).
FDs are not advisable for long-term wealth creation as their post-inflation, post-tax returns are not very attractive.
Days after the Karnataka governor granted sanction for the prosecution of Chief Minister Siddaramaiah in the Mysuru Urban Development Authority case, the Congress' top leadership on Friday expressed its backing for him and alleged that the Centre had unleashed a systematic assault through a 'puppet governor' to destabilise an elected government.
This will be an upfront payment for the vaccine doses that these two companies will supply to the government.
In September, JSW MG Motor India, the newly minted joint venture between SAIC Motor, which is present in 100 countries, and Indian conglomerate JSW Group, launched the Windsor, an electric car that introduced battery as a service (BaaS).
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
Sahara accuses Mirach Capital of cheating, forging bank letter.
The Congress has promised to introduce the 'Mahalaxmi Scheme' in the poll manifesto which will provide Rs 1 lakh annually to the poor to alleviate poverty.
'The dakiyas will be our partners, receiving credit proposals from micro-enterprises at the grassroots level.'
Modi accused the JMM, Congress and RJD of using Bangladeshi infiltrators for "vote bank politics," facilitating their settlement in Jharkhand, which is a threat to the state's social structure.
The ministry also decided to dispense with the requirement of the Integrity Pact Bank Guarantee to reduce the financial burden on the Indian defence industry, a move aimed at promoting domestic manufacturing.
Investors may have to wait a little longer for Unified Payments Interface (UPI)-based block mechanism in the secondary market even as the market regulator has set the effective launch date as January 1, 2024. Several brokerage firms said they may take a few months more to implement it. Investors will be able to register for this facility only if the stock broker has opted for the UPI block facility.
Sahara Counsel told the court that negotiations were underway for selling Sahara Group's offshore properties for raising sufficient fund for Subrata Roy's bail.
UB Group Chairman Vijay Mallya has turned down suggestions from banks that he should give a personal guarantee as a precondition for additional funding to the cash-strapped Kingfisher Airlines.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was on Monday awarded to Ben S Bernanke, Douglas W Diamond, and Philip H Dybvig for their research work on bank regulation and how financial crises should be managed.
Gas price hike seems to be a distant dream for Reliance Industries and its partners--Niko Resources and BP.
Kharge also targeted Prime Minister Narendra Modi, saying the people should not believe Modi's "guarantees".
Following a review of peer-to-peer (P2P) platforms, certain issues -- including high non-performing asset levels, significantly high balances in escrow accounts, and non-compliance with net owned fund and disclosure requirements -- came to the RBI's attention.
The outward foreign direct investment (FDI) by Indian companies stabilised in 2023-24 (FY24) after witnessing a fall in 2022-23 (FY23). The actual outward FDI inched up slightly to $13.75 billion in FY24 from $13.49 billion in the previous financial year (FY23), according to finance ministry data. This stability came after a sharp fall in outward flows in FY23 from $18.52 billion in 2021-22 (FY22).
He asserted that it was time to "throw such forces out" to protect "mati, beti, roti" (land, daughter, bread).
