The implementation of this toll collection system, which will eventually eradicate toll booths, necessitates the fitting of an on-board unit (OBU) in every vehicle that can track a vehicle's location in real time.
Dr T V Somanathan is the first finance secretary to be appointed Cabinet secretary since 1985. His appointment at this juncture seems to carry much meaning for the forthcoming trajectory of reforms and restructuring of India's steel frame.
Referring to the collapse of some financial institutions in the US, the finance minister said banks in India were insulated from the crisis and their financial position was quite strong.
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
'An in-house contest encourages employees to share yoga and well-being practices with their families.'
A case was registered by the police against Congress MLA Channareddy Tannur and his son Pampanagouda Tannur on Saturday after a Dalit sub-inspector allegedly died by suicide, following his transfer within seven months of posting.
The decision was taken by bank unions at a meeting with IBA representatives, on the directive of chief labour commissioner, in Mumbai. UFBU is the umbrella body of bank unions in the country and consists of members from public, private and foreign banks.
The notification of the Act comes just a day after Union Education Minister Dharmendra Pradhan was asked when the legislation would be implemented. The minister had said the law ministry was framing the rules.
The banks offer FCNR deposits in six currencies -- US dollar, euro, pound sterling, Canadian dollar, Australian dollar and Japanese yen. In the FCNR deposit category, SBI has raised rates by 12-21 basis points on US dollar deposits across various maturities. The new rate for the one and less than two years category is 3.12 per cent (2.98 per cent). Five-year FCNR (B) deposits carry a higher rate across various maturities at 3.66 per cent as against 3.45 per cent earlier.
The United Forum of Bank Unions, a body of nine bank unions, has announced a nationwide strike on September 12, after recent talks with the chief labour commissioner over the implementation of a memorandum of understanding failed.
Employees of public sector banks have gone on two-day nationwide strike on Wednesday opposing banking sector reforms and outsourcing of non-core activities, affecting operations.Several private sector banks, foreign banks and ATMs, however, continued to operate normally.
A procession of barges will take nearly 7,000 athletes along the river past Paris's most famous landmarks, while more than 300,000 spectators will watch from the banks.
The government is planning to introduce legislative changes to the Foreign Exchange Management Act (Fema) regulations, with a focus on easing the pathway for inflows from a foreign portfolio investor to transition seamlessly into foreign direct investments (FDI) once the FPI surpasses the 10 per cent ownership threshold in a company. This move stems from multiple requests by foreign investors seeking to streamline the reporting requirements that arise when their stakes in Indian firms cross the 10 per cent mark.
The nationwide bank strike scheduled on October 5-6 has been called off after Indian Banks Association agreed for fresh negotiations with bank unions on wage revision and other demands.
'There will be 200 ITIs developed as hubs, while 800 will be developed as spoke, connected with five National Skill Training Institutes.'
Public sector banks' cumulative profit crossed the Rs 1 lakh crore-mark in the financial year ended March 2023, with market leader State Bank of India (SBI) accounting for nearly half of the total earnings. From posting a total net loss of Rs 85,390 crore in 2017-18, the Public Sector Banks (PSBs) have come a long way as their profit touched Rs 1,04,649 crore in 2022-23, according to an analysis of their financial results. These 12 PSBs witnessed 57 per cent increase in total profit compared to Rs 66,539.98 crore earned in 2021-22.
The ruling Congress is seeking to retain power in Chhattisgarh by banking on the welfare schemes of the Bhupesh Baghel government, while the Bharatiya Janata Party is hoping to corner it on the issues of alleged corruption, religious conversions and unfulfilled poll promises.
Postings to places at an altitude above 1,000 metres but less than 1,500 metres, between 1,500 and 3,000 metres, and above 3,000 metres entail different rates of allowances -- the higher the location, the bigger the allowance, reveals Tamal Bandyopadhyay.
Fresh plans of privatisation or divestment in central public sector enterprises and public sector banks might take a back seat this financial year because these may require a large consensus among coalition partners.
The Union Bank has increased interest rates on deposits and floating rates on home loans by 0.25 per cent.
"I condemn is the strongest terms the statement he has made about Sikhs not being able to wear turbans and kadas," the BJP leader from the Sikh community said.
After private banks - HDFC Bank and Axis bank - decided to charge own customers for more than five transactions at their ATMs, public sector lender Union Bank of India has also joined the bandwagon.
'When honest, wealthy people come forward to serve India, people should feel proud and welcome them.'
Amid a debate on the basis of a monetary policy stance, one may be curious enough to know how non-food retail inflation has behaved over the years in India. Let the eager souls catch a glimpse of facts. In the past 10 years, non-food inflation came down below 4 per cent on two occasions - pre-Covid period of 2019-20 and now in the first four months of the current financial year (FY25).
Contrary to the current trend of declining home loan rates, Union Bank of India has hiked interest rates for fresh home loans by 0.50 per cent across all maturities of fixed and floating rate options, effective January 1, 2004.
When it comes to the Congress and Wayanad, the only way the scepticism in the minds of some in Kerala may be addressed is by the Gandhi family proving that they are more than a passing caravan in town, reports Shyam G Menon.
US nominee for World Bank president, Ajay Banga, has tested positive for COVID-19 following which the meetings scheduled during his two-day visit to India have been cancelled. According to a Finance Ministry statement, Banga's meeting with Nirmala Sitharaman would not happen as he is in quarantine. "During routine testing, Ajay Banga tested positive for COVID-19 but remains asymptomatic.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
A combination of factors, including heavy investments in US Treasury bonds and dollar sales at a healthy profit, facilitated the Indian central bank in transferring a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24). The RBI's dollar purchases increased in FY24, supported by robust capital inflows endorsing the economy's health.
Mortgage finance remains a structural growth opportunity in India with a policy focus on affordable housing, housing shortages, low mortgage penetration, and rising incomes as drivers. Affordable Housing Finance Companies (AHFCs) serve the mass market, low-income segments, which is the least-serviced category, and to operate in this segment, the mortgage provider needs good assessment skills. AHFCs and HFCs have also been increasing exposure in other mortgage segments (loan against property, developer loans among others).
An Iranian delegation is expected to visit India this weekend to discuss an arrangement under which Union Bank will make payments to Halk Bank in Turkey.
Both candidates have shifted from their traditional constituencies - Sadhotra from Marh and Sharma from Akhnoor - after these two segments were reserved for Scheduled Castes.
Accusing the labour ministry of "playing hide and seek" with their demands, the bank unions on Tuesday threatened to go on an indefinite strike.\n\n\n\n
Soren, who is scheduled to join the Bharatiya Janata Party on August 30, also resigned as an MLA of the state assembly and a minister in the Jharkhand Cabinet.
The Budget proposals are expected to boost the fortunes of consumer goods and fast-moving consumer goods companies, which have been struggling with poor consumer demand for more than a year. The Budget announcements, such as the increase in standard deduction by Rs 25,000 for income-tax payers and slab revisions, will put more money in their hands, boosting consumer demand. Private consumption is also likely to benefit from a new scheme to offer internships to 10 million youths in the country's top 500 companies.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
The Financial Intelligence Unit-India (FIU-India), the national agency responsible for analysing suspicious financial transactions, has received requests from four more offshore crypto exchanges to operate in India again, said a senior government official familiar with the matter. In the beginning of 2024, India had banned nine crypto exchanges - Binance, Kucoin, Huobi, Kraken, Gate.io, Bitstamp, MEXC Global, Bittrex, and Bitfenix - for non-compliance with anti-laundering law in the country.
Operations in branches of public sector banks are affected and cheque clearance would be delayed.
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