Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The Supreme Court of India has refused to halt the redevelopment project of Dharavi in Mumbai, allowing the Adani Group to proceed with their project. The court rejected a plea from Seclink Technologies Corporation, the original highest bidder for the project in 2018, which challenged the tender process and the award to Adani Properties Pvt Ltd in 2022. The court directed Adani Properties to make payments through a single bank account and ordered Seclink Technologies to file an affidavit detailing their increased offer for the project. The project work has already commenced, with constructions underway and 2,000 people employed on the site.
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
All that you must know about the pros and cons of gift deeds, tax implications, essentials, documents required, conditions, etc...
CPI inflation slowed to 9.39% in April compared with 10.39% in March.
The Securities and Exchange Board of India (Sebi) might relax the disclosure norms around rumour verification to help smooth implementation and ease compliance amid pushback from India Inc, said people in the know. The rule has been notified following amendments to the Listing Obligations and Disclosure Requirements (LODR) by Sebi. However, its implementation has been deferred until February.
Ratnakar Bank to absorb RBS' employees involved in three businesses
A 2008-style bank run seems unlikely, but if it did happen, the sector is much better prepared.
Public sector banks have lost nearly Rs 2.85 lakh crore on account of loan dues of 13 corporates even as the banks are used to bail out ailing financial institutions such as Yes Bank and IL&FS, United Forum of Bank Unions alleged on Monday. In a press release, UFBU's convener B Rambabu said the organisation calls for a two-day all India bank strike on December 16 and 17 protesting against Banking Laws (Amendment) Bill 2021 and opposing the Centre's alleged move to privatise PSBs. According to the statistics given by the UFBU, the 13 corporates' outstanding dues were at Rs 486,800 crore and it was resolved at Rs 161,820 crore resulting in a loss of Rs 284,980 crore.
While Gupta, 60, can rightfully bask in the glory he has achieved for his bank in the subcontinent, his peers in foreign banks will have to revisit their India play, especially the local incorporation model, says Raghu Mohan.
'Right now, we have no relationship with Pakistan. And the relationship with China is not great.'
FDs are not advisable for long-term wealth creation as their post-inflation, post-tax returns are not very attractive.
Kapoor, 62, and the Wadhawans were arrested by the agency in this case early this year and they are in judicial custody at present.
The RBI has agreed to consider the application of India Post in consultation with the government.
Based on this screening, the committee may weed out applications that do not meet the eligibility yardstick or the 'fit and proper' criteria for securing a licence.
'The government has to explain (to the army, air force and navy chiefs) whether they want a punitive strike, a deep punitive strike, or whether they want limited war or an all-out war, will it be a circumscribed war or will it be a shallow attack along the border.'
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With new private banks in the play, the going could become more difficult for the old-school state-run banks, already losing business and market position, forcing them to think hard towards consolidating and forming larger entities to garner big-ticket deals.
The department of financial services has decided to give banks commission, to ensure these accounts are kept active.
One of every four people in the 27-37-year age group, the most prolific in using digital banking apps, reported a fraud in the past year
It is to keep labour unions away and make the employees feel important.
After an extremely stable 2023, the Indian rupee started 2024 on a promising note and has turned out to be the best-performing Asian currency so far in January, appreciating 0.1 per cent despite 2 per cent rise in the dollar index. All other Asian currencies depreciated by around 1.4-4 per cent during the month. The local currency regained its ground against the greenback on the back of foreign portfolio inflows, said market participants.
The death of the 81-year-old former England keeper was announced by his former club Stoke City on Tuesday.
'As long as the government owns the banks, bankers will follow signals from politicians as to how to lend.' 'State-owned banks will remain State-owned banks as long as the current dispensation is in power -- and certainly there will be no change if the other chaps get in,' says Mihir S Sharma.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
'There will be no change of seats for Delhi, Assam and Maharashtra.' 'Andhra, J&K, Kerala, Punjab, Karnataka, Tamil Nadu, Odisha, West Bengal and Telangana will lose seats while there will be an increase for MP, UP, Bihar, Haryana, Gujarat and Chhattisgarh.' 'It is a big mistake if you make it a north-south issue.'
Bajaj Auto was the top gainer in the Sensex pack, surging 3.95 per cent followed by Maruti Suzuki at 2.69 per cent.
Mukesh Ambani is stringing in new partnerships within the Reliance ecosystem with the best in global business -- from Facebook, Google and Microsoft to umpteen sovereign wealth funds and a soon-to-be-declared strategic partner in a big global retailer, notes Shailesh Dobhal.
Despite a strong start to trade today, key benchmark indices retreated sharply from their higher levels following bouts of profit-taking amid fresh weakness in the rupee against the dollar.
Growing up in the Mumbai of 1970s, Uday Kotak aspired to be a cricketer and trained under legendary coach Ramakant Aachrekar. However, it was an on-field injury which resulted in a shift to finance. He started off with bill discounting, turned to lending and successfully applied to start a universal bank in the first decade of the millennium, as India was warming up to private play in banking.
Experts said banking is a play on the economy and the latest buying into this space is underpinned by hopes of a sharper-than-expected recovery in the economy.
Kapoor has told the Enforcement Directorate that he was 'forced' to buy the M F Husain painting from Priyanka Gandhi and the sale proceeds were utilised by the Gandhi family for the medical treatment of Congress president Sonia Gandhi in New York, according to the charge sheet filed by the federal anti-money laundering agency in a special court in Mumbai.
'We are in a position to start due diligence and private data room access shortly.'
'I am determined now to celebrate all festivals together.' 'People don't respond much when you try to convince them by talking about principles of secularism etc. But if we revive our shared cultural practices, specially food, we may get a better response.'
'Till the BJP does not understand Kejriwal they cannot win Delhi.'
Markets end in green with auto, banks on a steady climb.
The stocks are largely from sectors such as chemicals, finance and cement, which struggled earlier but the worse seems to be behind them.
'The highlight of the interview process is it is robotic.'
'What made him different was that he was not a banker at all by temperament.' 'He was a businessman, a typical lalaji at that.' 'He had to win at any cost.'
The 30-share Sensex ended higher by 177.46 points at 28,885.21 and the Nifty gained 63.90 points at 8,778.30.
