Percy Mistry says things at market regulator Sebi are also in bad shape.
'Normally, the system is geared towards counting notes -- it is equipped to do x amount of work and one day you are asking them to do 20 x.' 'The processes involved are very complex.'
Check out which monuments make the most money for the government.
PM has asked the Reserve Bank to prepare a 20-year road map for financial inclusion
Maharashtra Chief Minister Uddhav Thackeray announced a statewide curfew for 15 days from 8 am on April 14 to contain the rapid spread of the coronavirus in its second wave. With Section 144 being imposed across the state, Thackeray essential services have been exempted from the restrictions. The curfew will be in place till 7 am on May 1.
Here's a recap of moments captured in India in the past 24 hours.
In a major ruling, the Supreme Court has held that the RBI cannot grant banking licence to cooperative societies registered under Multi-State Act without the NABARD declaring it as a state, central or primary cooperative bank.
The reputation of the Indian cricket board (BCCI) has been ruined by the freezing of its bank accounts, its president Anurag Thakur said on Tuesday, after a Supreme Court-appointed panel blocked it from making two payments to its state units. The panel asked two banks to halt the disbursements after the board ignored some of the panel recommendations for reforming the world's richest cricket board, which has been criticised for a perceived lack of transparency.
At least five state-run banks on central bank's radar for lax credit appraisal
India's e-commerce sector is expected to touch $22bn in 2015.
An official close to the development said the tender invited by the SUUTI closed in the second week of this month and 12 parties submitted their expressions of interest.
The concept of gold as an asset capable of getting anytime money is evaporating.
'Once the prime minister and the chief ministers of Maharashtra and Haryana pushed for this in 2014 and 2015, we have been trapped in a cycle of violence that gives India a bad name around the world,' says Aakar Patel.
Many PSBs are in the process of rationalisation of ATMs
The BJP can't be sure if it should celebrate that the old rival is fading or worry that new ones are rising. Because the last thing the BJP wants to see is alternatives rising, if only to the Congress, observes Shekhar Gupta.
India's largest IT-ITeS company, Tata Consultancy Services (TCS), is all set to launch its smart card solution that would enable banks to reach the remote areas and address their need for microfinancing.
Those scheduled to attend the five-day WEF Annual meeting, beginning January 21, include more than 40 heads of state or government, including those from the UK, Australia, Japan, Iran, Israel, Pakistan, Brazil, Italy, Mauritius, Republic of Korea and Switzerland, WEF announced on Wednesday at a press conference in Geneva.
UP's mills, dominated by the private sector's 94 units, have already expressed their inability to participate in the next crushing season
'If someone is trying to do a vote bank politics under the garb of the CAB then it is not in the interest of the country'
'We will see footfall returning to pre-COVID levels by January.'
The controversial Adarsh Society in South Mumbai on Tuesday moved the Bombay high court seeking de-freezing of its two bank accounts.
Bankers have been criticised for not passing the benefits of rate cuts
Mutton is retailing here at Rs 600 a kg, from Rs 500 a kg about a month before. Price of broiler chicken is Rs 150-160 a kg, as compared to Rs 130 a kg earlier.
In one case, the folks at SWAN discovered that of the Rs 1,500 they'd transferred as relief in the account of a stranded worker, the bank had deducted Rs 800 as penalty for not having minimum balance!
If Uddhav continues in this mode as a serious-minded, capable leader with his hands firmly on the steering wheel, and succeeds in enabling Maharashtra weather the current storm, there is every possibility of his emergence as a leader who will be seen as someone who is ready to play a larger role, observes Amulya Ganguli.
Modi said during the Congress-led regimes, terror attacks and bomb blasts would take place in Mumbai 'any time' and its coastline had become 'entry point' for terrorists.
After sight-seeing the Taj Mahal in Agra and the Sabarmati Ashram in Ahmedabad, Canadian Prime Minister Justin Trudeau got down to work in Mumbai. He, along with his wife Sophie Gregoire Trudeau and three kids -- daughter Ella Grace and sons Hadrien and Xavier - arrived in the country's financial capital on Monday night. Here are snapshots from Day 3 of their visit.
'Criticism of Uddhav suits the NCP perfectly.' 'NCP members head key ministries in Maharashtra like home, finance and health, yet as chief minister it is Uddhav who is criticised for the state government's shortcomings.' 'Few hold NCP chief Sharad Pawar accountable for the performance of NCP ministers,' argues Sanjeev Nayyar.
In the wake of Lodha Committee report, the Board of Control for Cricket in India's top brass on Wednesday said the Board is still 'confused' over the kind of payments that can be made from the two bank accounts which had come under the scanner of the Supreme Court-appointed panel.
In its morning update, the Union health ministry said the total number of positive cases has reached 2,16,919 with a record spike of 9,304 new cases since Wednesday 8 am across the country, while the death toll has increased to 6,075 with 260 more fatalities in this period. A PTI tally of figures announced by different states and union territories, as of 9.50 pm, showed a higher number of confirmed cases across the country at 2,17,389 and the death toll at 6,233.
The good news for PepsiCo is that the foods segment has normalised much faster to pre-pandemic levels than beverages.
'The BJP strongly believes that we are all Indians, and everyone enjoys the same rights.'
If it was true that Maharashtra Chief Minister Devendra Fadnavis held up the flight to Newark to ensure that Praveen Singh Pardeshi, the state principal secretary, was on board, he had at least one excuse...
Gujarat has topped with a score of 71.14% on ease of doing business list.
Be it loan waiver or DBT transfer, it only helps in creating a "feel good" factor and postpones the problem for some time if structural problems are not handled.
Unlike in previous years when the under-19 players were in focus and even got lucrative offers, this time the franchises were rather subdued when it came to locking in the junior stars as evidently, it takes time for them to be mature enough for top-flight cricket.
The Nafed has outstanding dues of Rs 224.26 crore (Rs 2.24 billion) as of February 15.
'The message has gone loud and clear (among the people of Assam) that the BJP is only interested in polarising (the country) and they are basically interested in (capturing votes in) the Hindi heartland and they don't bother much about rest of India.'
Financial Intelligence Unit data show many of these societies have become the biggest draw for laundering money. Subhomoy Bhattacharjee reports.
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