First things first: For those wondering if they need to reapply, the answer is no.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The post of chairman and managing director has been split and the government has appointed managing directors and chief executive officers in four banks -- Indian Overseas Bank, United Bank of India, Oriental Bank of Commerce and Vijaya Bank.
Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a record Rs 27.23 lakh crore in March this year, according to RBI's data on 'Sectoral Deployment of Bank Credit'. Experts from banking and real estate sectors attributed this growth in housing credit outstanding to a strong revival in the residential property market post-COVID pandemic on pent-up demand. According to the data of the Reserve Bank of India (RBI) on sectoral deployment of bank credit for March 2024, the credit outstanding to the housing (including priority sector housing') stood at Rs 27,22,720 crore in March 2024, up from Rs 19,88,532 crore in March 2023, and Rs 17,26,697 crore in March 2022.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Fintech firm One97 Communications, which owns the Paytm brand, on Wednesday said its loss in the fourth quarter of the financial year 2023-24 has widened to Rs 550 crore following the ban imposed by the RBI on transactions related to its payments bank. The company had posted a loss of Rs 167.5 crore in the same period a year ago, the company said in a regulatory filing. "Our fourth quarter FY24 results were impacted by temporary disruption on account of UPI transition etc. and permanent disruption because of the PPBL embargo.
The people of India have 50 days, from November 10 to December 30, to deposit notes of Rs 500 and Rs 1,000 in any Bank or Post Office.
The government has invited applications for the post of chief economic adviser (CEA) to replace K V Subramanian, who will complete his three-year tenure next month. Subramanian was appointed as CEA on December 7, 2018, while he assumed charge on December 24 in the same year. As per the public notice dated October 24, 2021 issued by Department of Economic Affairs, the Ministry of Finance, officer of central, state governments, RBI and public sector banks holding analogous post on regular basis in parent cadres or department are eligible to apply for the post.
The income tax department on Wednesday conducted a survey operation at Hinduja Global Solutions, an entity of the Hinduja Group, in Mumbai and some other cities, official sources said.
The State Bank of India (SBI) on Tuesday evening submitted details of electoral bonds to the Election Commission of India in compliance with the Supreme Court order.
The committee headed by RBI's Deputy Governor Usha Thorat made a series of recommendations that include increasing banking penetration and strengthening of Regional Rural banks and Urban Co-operative banks in the region. It said post offices, traditional institutions and NGOs need to be co-opted by the banking industry so as to encourage economic activities.
'This government is not in the hands of M K Stalin but in the hands of the bureaucracy -- the IAS and IPS.'
The collapse of Silvergate Bank, Silicon Valley Bank (SVB) and Signature Bank in the US might create temporary liquidity issues but will not have any significant impact on the Indian crypto market in the long run, officials from several exchanges told Business Standard. All three banks are considered crypto-friendly. SVB offered services such as cryptocurrency custody and lending.
Having issued over 21 lakh cards since lifting of curbs last year, the country's largest private sector lender HDFC Bank is planning to launch a slew of digital initiatives over the next few quarters, a top official said. The Reserve Bank had barred HDFC Bank from issuing new credit cards following incidents of outages in the lender's internet banking /mobile banking/ payment utilities over the previous two years. The curbs were partially lifted after eight months in August last year. Finally, in March 2022, the RBI lifted all restrictions placed on the bank, including digital launches.
It would help the PSU transform its banking and insurance operations cross 150,000 post offices in the country.
With an expected earnings growth of 15 per cent, benchmark index Nifty 50 may hit 24,500 level by December 2024 and move further to surpass the level of 26,500 by December 2025, Emkay Investment Managers said on Tuesday. The 50-share Nifty settled at 22,888.15 on Tuesday. In the previous day, it hit a new lifetime peak of 23,110.80.
The response was tepid in other parts of the country even as several INDIA bloc parties as well as other non-BJP outfits extended their support to the bandh.
'The film-literate public in Kerala are not happy watching run-of-the-mill movies.'
Fintech firm One97 Communications, which owns the Paytm brand, has received support from merchants, and it assured them of continuity of services without any disruption, the company said in a blog on Sunday. The blog post came amid the recent crisis around Paytm Payments Bank Limited (PPBL), an associate company of Paytm, which has been barred by the RBI from accepting deposits or top-ups in customer accounts, wallets, FASTags and other instruments after February 29.
The bank expects to grow loan book by 10 per cent in the current financial year with calibrated exposure to corporate accounts and thrust on the retail segment.
The avoidable stresses and strains in ties helped in one way. It showed for the entire region how a matured India handled diplomatic relations, especially with a smaller and suspicious neighbour, with practised dignity and patience, unruffled by provocations in word, deed and action, observes N Sathiya Moorthy.
'When honest, wealthy people come forward to serve India, people should feel proud and welcome them.'
Rau's felt the need to be where the action was.
The institute that once drew largely elite students also decided to expand its base and cater to a wider pool.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Post Office has 1,54,000 rural branches.
The decision of the Reserve Bank of India (RBI) to allow banks to engage companies with large retail outlets as business correspondents has the potential to change the future of financial inclusion and branch banking in India.
The Reserve Bank on Saturday extended the special drive to withdraw Rs 2,000 bank notes from the system by another week, till October 7.
TDS merely means the bank will pay you the entire interest amount without forwarding the tax on it to the government.
The syndicate used "stooge" bank accounts and shell companies to transfer the largest amount linked to a single case recorded in the city, the Customs and Excise Department of Hong Kong said.
To minimise risk, invest in a debt fund whose duration matches your investment timeframe.
It has also been decided to make heavy deployment of forces in some pockets of Kanpur ahead of Friday prayers, police said.
CBI officials booked for graft by the central probe agency were not only receiving regular kickbacks for compromising investigation, but were also acting as conduits to bribe their peers on behalf of companies accused of siphoning off crores of public money from banks, the FIR against them alleges.
French organisers turned Paris into an open-air Olympic playground where everyone was invited, with or without a ticket.
'A fresh look is being given to ways of processing, transmission, and delivery.'
Rain-related incidents claimed nine more lives in Gujarat, taking the death toll to 16 in two days, while another 8,500 people were relocated and rescued from flood-affected areas with rains continuing to lash some parts of the state for the fourth consecutive day on Wednesday, officials said.
Suspended Jharkhand IAS officer Pooja Singhal was paid "commission" by subordinate staff from MGNREGA funds of Khunti district which she and her husband subsequently utilised for acquiring various properties, the Enforcement Directorate (ED) claimed in a statement on Wednesday.
Justice BV Nagarathna said she had to dissent against the demonetisation move by the central government as in 2016, when the decision was announced, the Rs 500 and Rs 1,000 notes comprised 86 per cent of the total currency notes in circulation, and 98 per cent of it came back after they were banned.
Two days after five Chinese nationals were killed in a suicide attack at a hydropower project in Khyber Pakhtunkhwa in Pakistan, a Chinese company has suspended civil works and laid off hundreds of workers at another hydropower project in the same restive province, according to media reports on Thursday.
These banks need to build a significant deposit base to start full-fledged banking.
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