Many users did not know that their entitlement was not coming to their regular bank account but going to an account which they had not applied for.
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
Shelar demanded that Desai's death should not be treated just as a case of accidental death, but must be dealt with from a larger perspective.
To a question related to RBI's policy rate, Rajan said no amount of interest rate cut is going to help if credit growth is weak.
Trouble at a single bank among the top five most connected lenders could wipe out nearly 50% of Tier I capital
MCA blamed its financial troubles on non-receipt of payments from the Board of Control for Cricket in India for the last 10 months.
The Reserve Bank on Wednesday said the amalgamation of Lakshmi Vilas Bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The RBI issued the statement within hours of the Cabinet clearing the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL).
In the current economic scenario, most banks around the world have experienced some jitters and felt the jolt. However, some banks have managed to steer away from the storm and stay resistant to the troubles whirling around the sector.
'Given that the market is now demanding disciplined growth, well-run companies should be able to demonstrate profitability with the cash on hand.'
It is for China to decide what role it plays at the G20 summit in New Delhi, a top US official has said, asserting that if Beijing wants to come in and be a "spoiler", that option is available to it.
'Hamas is going to be prepared. There will be booby traps and tunnels; it's going to be door to door fighting.'
One looks upon the coming new year with foreboding as current wars in Ukraine and Gaza spill over and escalate and new ones erupt in incipient fault lines across the world, notes former foreign secretary Shyam Saran.
The ED said that the investigation further revealed that there are 78 companies owned by the accused and his family members and it needed to probe whether the money went into these companies.
'Israelis not only harassed Palestine Muslims, but also Christians.' 'Palestinians have been telling Israel that this will blow up the situation, but they would not listen to us.'
The court noted that despite repeated orders, Mallya did not appear in the court and it was inevitable for the state machinery to intervene and ensure his presence.
The rout in Adani Group stocks after US-based short seller Hindenburg Research released a report on January 24 has sparked a rebound in trading activity this month. The average daily trading volume (ADTV) for the cash segment (both NSE and BSE combined) so far in February stands at Rs 59,346 crore, and is around 15 per cent more than the previous month's tally of Rs 51,844 crore, which was the lowest in six months. The ADTV for the futures and options (F&O) segment rose to a record Rs 204 trillion (notional turnover) against Rs 202 trillion in January.
Mergers to create at most six state banks
Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
Observing that it does not propose to run the administration in Manipur, the apex court said necessary verifications shall be carried out before issuing the Aadhaar cards expeditiously.
Though Indian banks' exposure to the troubled euro zone is negligible, funding pressure could impact them, Economic Survey 2011-12 said.
Many stalled projects are about to get going again, providing potential relief to banks, says T N Ninan.
The government must set up a Bank Investment Company to shrink its role in PSBs, if we are serious about tackling the two persistent issues - lax corporate governance practices and discretionary decision-making, says Shyamal Majumdar.
Only when the RBI inspection started on September 19 did they realise that their game was up and one of them had sent a letter to the central bank, leading to the RBI crackdown, report Anup Roy and Subrata Panda.
What's different this time is that global financial stress -- which has its genesis in four policy choices made in recent years -- is juxtaposed with a more resilient real economy, observes Sajjid Z Chinoy, chief India economist at J P Morgan.
'Whenever she joined any of our family functions, she was so good, so simple.'
Benchmark BSE Sensex and NSE Nifty closed marginally down in a volatile trade on Wednesday due to profit taking by investors after two straight days of gains amid mixed global trends and foreign fund outflows. The 30-share Sensex dipped 17.15 points or 0.03 per cent to settle at 60,910.28. During the day, it declined 213.66 points or 0.35 per cent to 60,713.77.
Banks will remain open for the public even on the weekend
The decision was taken at the State Bank of India headquarters in Mumbai on Monday when the top managements of the lenders met.
Do central banks also suffer from moral hazard? Are they part of the problem or the solution?
Enjoying the backing of the regulator, Gill has identified the core problems, ring-fenced the banks from "influencers" and is in the process of building a new team. Now, he needs to play a Vikram Pandit for YES Bank, says Tamal Bandyopadhyay.
'The reason is that you may not enter the branch but you want to see it near you as it establishes trust.'
Coffee Day Enterprises Ltd has reported a total default of Rs 465.66 crore on payments of interest and repayment of principal amount on loans from banks, financial institutions and Unlisted Debt Securities as NCDs and NCRPS, for the quarter ended September 30, 2022. Coffee Day Enterprises Ltd (CDEL) which is paring its debts through asset resolution, has a total debt of Rs 490.66 crore, including short-term and long-term debt. "The delay in debt servicing is due to liquidity crisis," said Coffee Day Enterprises Ltd (CDEL) in a regulatory update.
Edelweiss ARC, in a statement, denied that any undue pressure was brought to bear on Desai for loan recovery.
The market could be influenced by events elsewhere in the world and regardless of what happens to India's economy
Group term insurance is far more cost-effective than an individual cover.
A young girl from Manipur hopes the happy days of togetherness will return to her beloved state again.
At the end of October, Sri Lanka President Maithripala Sirisena handed over the deeds for the transfer of 116 hectares in Colombo Port City to China Harbour Engineering Company on a 99-year lease to build a financial centre.
Benchmark BSE Sensex rose by 319 points on Monday on gains in IT and financial stocks after positive quarterly results amid supportive global cues. The 30-share BSE barometer rose by 319.90 or 0.53 per cent to close at 60,941.67. The index opened higher and gained more than 400 points to scale the 61,000 level. It touched a high of 61,113.27 and a low of 60,761.88 in the day.
As per the Reserve Bank of India's new KYC norms, customers need not provide separate ID proofs to open a new account. Read on to know the new changes will benefit you.
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