With the Iran war escalating sharply and crisis deepening in the global energy market, India on Monday unveiled a coordinated plan to support exporters and shippers caught in the fallout.
Learning from East Asia, India must reform its district administration with performance, accountability, and vision to achieve the goal of Viksit Bharat, points out Deepak Mishra.
Several executives argue that UPI has the potential to grow tenfold, but warn that the absence of a monetisation model risks stagnating the real-time payments system, which has been recording all-time-high transaction volumes every year.
'We've moved from thousands killed yearly in Jammu and Kashmir to 127 last year.' 'Cross-border terrorism in Kashmir is being solved. We are winning it.'
At least 13 candidates are in the race for the position of managing director and chief executive officer (MD & CEO) of Punjab National Bank (PNB), the second-largest public sector bank (PSB), according to multiple sources familiar with the matter. "Among the candidates, some are executive directors (EDs) and managing directors in major PSBs. "Financial Services Institutions Bureau (FSIB) will conduct the interviews next month," said a source.
The Enforcement Directorate (ED) has earmarked assets worth about Rs 15,000 crore that will be restored to victims of real estate, Ponzi and other frauds across India during the current financial year. The agency has been "aggressively" initiating this provision for restitution since last year to ensure rightful claimants duped by financial crime get their dues. The ED has already restored Rs 31,951 crore worth of assets under this provision, including Rs 15,201.65 crore from 2019-21 in cases related to Vijay Mallya, Nirav Modi and the National Spot Exchange Limited (NSEL). The ED Director has issued directions to all regions to actively work on cases marked for restitution of assets worth Rs 15,000 crore during the financial year 2025-26.
'The only solution is for the government to allow us to charge a low controlled MDR of 25 bps on UPI P2M transactions only for merchants with more than a Rs 40 lakh turnover.'
The Indian insurance industry is set to focus on customer-centric technological adoption and expansion into rural areas to drive growth in 2025.
'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.'
This will be the first full-year Budget of the BJP-led National Democratic Alliance government since it came to power for a third consecutive term in July last year.
While the capital spending is being maintained at 3.1 per cent of the GDP, a little more would have boosted economic growth even further, suggests Rajiv Memani.
The federal agency issued a statement, saying it has attached fresh assets worth more than Rs 35 crore that are "beneficially-owned and controlled" by the PFI "in the name of various trusts, companies and individuals" as part of its ongoing probe against the outfit and entities linked to it.
Ahead of the Basant Panchami Amrit Snan at the Maha Kumbh, top officials are emphasizing the implementation of "zero error" directives to prevent a repeat of the deadly stampede that occurred during a previous snan. The Uttar Pradesh government has deployed senior IAS officers with experience in crowd management and inter-agency coordination to oversee the event.
These recommendations are based on interactions held by the Banks Board Bureau with eligible candidates from PSBs towards appointment against vacancies in PSBs for the period 2018-19
Investors' wealth jumped Rs 13.78 lakh crore on Monday as the benchmark equity index Sensex hit its lifetime high after exit polls predicted a massive win for the BJP-led NDA in the Lok Sabha polls. The 30-share BSE Sensex jumped 2,777.58 points or 3.75 per cent to hit a record peak of 76,738.89 in early trade. The benchmark finally ended at 76,468.78, registering a sharp rally of 2,507.47 points or 3.39 per cent.
The Tamil Nadu government is set to unveil a housing initiative for 18,720 women employed by Taiwanese tech giant Foxconn, a key supplier to iPhone-maker Apple, this Saturday. The project, located at Vallam Vadagal near Chennai, marks the first time an Indian state government has constructed a hostel of this scale for a private firm - a model that's been successful in China and Vietnam.
The talk of governance reforms at public-sector banks seems to remain on paper, as a majority of them continue to be working with just a handful board members. Half of the board seat at these banks have been vacant. Ten of the 12 public-sector banks, even large ones like Punjab National Bank, Canara Bank and Union Bank of India - all except State Bank of India (SBI) and Bank of Baroda - don't even have a chairman. In 2014, while splitting the post of chairman & managing director (CMD), the government had decided to appoint non-executive chairmen at these banks. SBI, which has an executive chairman and four managing directors, was an exception.
Union Minister of Commerce and Industry Piyush Goyal's recent comments on large e-commerce players have reignited the debate about their impact on smaller offline retailers. On Wednesday, Goyal said that the rapid growth of e-commerce in India is a "cause for concern" and is diminishing the market share of small, mom-and-pop stores by offering high-margin products such as consumer electronics and apparel at discounted rates.
Home loans also pose lower bad-debt risks for the banks than corporate loans.
'There is no scope for any doubt. This was a scheme designed to enrich the ruling party.'
Instructions were issued on holding loan camps in the last week of September.
Khara will replace SBI Chairman Rajnish Kumar, whose three-year term comes to an end on October 7.
IT firms Infosys and Mphasis on Tuesday said they will create employment for about 2,000 people, while Wipro will invest pound 16 million (about Rs 163 crore) in the UK over the next few years. The announcements were made ahead of the virtual summit between UK Prime Minister Boris Johnson and his Indian counterpart Narendra Modi on Tuesday. Infosys said it plans to hire 1,000 workers in the UK over the next three years as part of efforts to support the country's economic recovery and growth.
A committee headed by Patel recommended retail inflation targeting and a monetary policy committee.
The government plans to transfer all subsidies including food, fertiliser and kerosene, potentially taking direct payments to more than $60 billion.
Adani Mining is building a 300-km rail line for its about $16 billion Carmichael coal mine project in Australia.
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Prior RBI permission a hurdle, given its views; business interest needs to be clearer.
Senior IPS officer Anil Kumar Sinha was on Tuesday night appointed the new CBI Director to succeed Ranjit Sinha who retired in a glare of controversy with the Supreme Court directing him to recuse from 2G spectrum scam case probe.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
'It's not really going to bring about purity in the election process.'
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
The Pakistani delegation, in its meetings with World Bank officials, insisted on early appointment of the judges and setting up the court.
The e-commerce sector gave a much higher average hike of 16-20 per cent to its executives.
Wayanad will continue to support Rahul but not to the same extent as in 2019, when his margin of victory had been enormous. Articulate, to the point and speaking in fluent Malayalam, CPI's Annie Raja, had the people who gathered to see her, listening in rapt attention, notes Shyam G Menon.
The meeting will be attended by all heads and EDs of public sector banks
The appointment will be made by Prime Minister Narendra Modi in consultation with Finance Minister Arun Jaitley.
There will be a lot to repair and rejuvenate -- if that opportunity even presents itself, warns Rathin Roy.
As per the RBI Act, the central bank has to have four deputy governors.
The Finance Ministry has invited private sector bankers.
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