The number of active SIP accounts is nearing the 100 million milestone.
Beneficiaries of kerosene, LPG and fertiliser subsidies will be able to get direct cash transfers through banks, ATMs or even mobile banking after the UIDAI's recommendations to plug leakages in the system are implemented.
The country's largest lender State Bank of India will get the largest sum of Rs 8,800 crore as government's capital infusion.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
A non-strategic investor like Poonawalla brings in not only capital but also creative freedom. Indian cinema needs more investors like him, reports Vanita Kohli Khandekar.
Nuclear Power Corporation of India has said that a large number of International Banks have given commitment to finance the proposed Jaitapur nuclear power project in coastal Maharashtra.
Vijaya Bank assured employees that the service conditions 'will remain unaffected and staff benefits retained'
Fair trade regulator CCI has approved private sector lender Ratnakar Bank' proposal to buy Royal Bank of Scotland's credit card business, mortgage portfolio and banking operation in the country, saying the deal will not have an adverse impact on competition.
Joy Thomas stated that one large account -- HDIL -- was the sole reason for the present crisis that led to the regulatory action on Tuesday when Reserve Bank of India superseded its management and placed it under an administrator for the next six months.
As a fallout of the dissolution of the administrative board of Maharashtra State Co-operative Bank by the Reserve Bank of India, the Nationalist Congress Party is eager to teach its ally, Congress, a lesson.
According to RBI sources, some banks had extended credit to existing borrowers to repay their debt, known as evergreening of loans in banking parlance.
'It is human nature to get angry and annoyed when you are inconvenienced.' 'But we were able to enroll a few of our customers as 'bank mitras', who with my staff made sure that the queues were orderly and coupons were given to all the customers who wanted to withdraw or deposit money.'
Scenes from polling stations in Mumbai which voted in the Lok Sabha election on Monday, May 20, 2024.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
While some states like Kerala and Telangana were badly hit by the strike, the impact was partial in Punjab, Haryana and Maharashtra
Banks cannot shirk their responsibility in cases of frauds.
The government is likely to infuse Rs 3,000 crore in seven public sector banks to shore up their Capital Adequacy Ratio (CAR) to 12 per cent to improve the market confidence in the banking sector.
Tamil Nadu's finances most stressed, with gross fiscal deficit estimated at Rs 31,830 crore.
They were arrested with the 'cooperation of district authorities of Satara on the strength of Non-bailable Warrant of Arrest issued by the Court of Special Judge, CBI Cases, City Sessions Court, Mumbai', CBI spokesperson R K Gaur said in New Delhi.
"My aim is to make Maharashtra the world's big financial powerhouse and to make Mumbai a global fintech capital," he said.
At least 27 Indian pilgrims, all from Maharashtra, who arrived in Nepal for a 10-day tour were killed and 16 others injured after their bus veered off the highway and fell into a fast-flowing river in central Nepal on Friday.
Coming down heavily on the Maharashtra government, the apex court castigated it saying the state has huge amount to "waste on freebies" but does not have money to compensate to a private party which lost land to it "illegally".
Non-performing assets of banks have been on the rise for past several months due to slowdown in the economy.
Thomas Ninad's bank account was defrauded of Rs 14 lakh under mysterious circumstances.
I challenge the thief to come out on the field with a bow and arrow and we will counter it with a flaming torch, Thackeray said.
NBFCs are allowed to include registration, stamp duty
Keeping up his tradition of celebrating the festival with soldiers, Prime Minister Narendra Modi visited Sir Creek near the Indo-Pak border in Gujarat's Kutch district and offered sweets to jawans.
Prime Minister Narendra Modi on Friday inaugurated the Rs 17,840 crore Atal Bihari Vajpayee Sewri-Nhava Sheva Atal Setu, the longest bridge as well as the longest sea bridge in the country connecting south Mumbai with Nhava-Sheva in Navi Mumbai.
He could have blazed a trail that few Indian judges had. It was a missed opportunity of a lifetime, notes Ramesh Menon.
The RBI on Friday imposed a fine of Rs 6.5 crore (Rs 65 million) on six public sector banks including IDBI Bank, Dena Bank and Indian Bank, for violation of customer identification or KYC norms and anti-money laundering guidelines.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
The Indian National Developmental Inclusive Alliance (INDIA) parties, led by the Congress, staged a walkout from both Houses of Parliament on Wednesday, in protest against all states except two being 'ignored' in the budget, an allegation termed 'outrageous' by Finance Minister Nirmala Sitharamanm, who said all the states never found a mention in any of the previous budgets, including those presented by the Congress.
Move to help India Inc access funds in the absence of foreign funds.
Congress President and Leader of the Opposition in Rajya Sabha Mallikarjun Kharge on Wednesday questioned Union Finance Minister Nirmala Sitharaman over the Union Budget and claimed that the plates of all states except Bihar and Andhra Pradesh were empty in the budget allocation.
Under the Goods and Services Tax, effective midnight of June 30, most of the financial services would attract a higher tax of 18 per cent as against 15 per cent as of now.
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Bank stocks have underperformed in the second quarter of FY'14 with the BSE Bankex declining 18 per cent compared to fall of 1 per cent in the BSE 30-stock index, Sensex, during this period.
Apart from Gujarat, Shah claimed that co-operative movement is still active in many other states, such as Maharashtra, Karnataka and Rajasthan.
Analysts say loan growth, Casa ratio and exposure to sectors under pressure did not indicate any stress at United Bank.
Images that should keep you grinning for days on end.
Bank of India, Canara Bank, Dena Bank, Corporation Bank and Andhra Bank are among the lenders that received capital infusion from the government.
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