These changes will entail a relook at the various laws governing banks in the country - the two Bank Nationalisation Acts (passed in 1970 and 1980); the State Bank of India (SBI) Act of 1955; and the Companies Act of 2013.
'Those who looted the nation have fled the country.' 'Those with rooms full of cash have already converted their cash into gold and property.'
The finance minister asked lenders to identify eligible borrowers and reach out to them and urged for quick implementation of a sustained resolution plan for the revival of every viable business.
India's unabated tryst with Russian crude oil is slowly coming to an end. The time has come for Indian refiners to navigate, creatively, the choppy waters of the post-honeymoon period, and for Indian policymakers to take cognisance of the broader impact on India from the spillover of the Russian crisis - after Washington's warning to transgressors last week. Shipments from Russia to India have averaged over 1.8 million barrels a day since February, according to data from Paris-based market analytics firm Kpler. But much of the crude shipped to India was non-sanctioned because it traded below a price cap set by the US led G-7 nations in December.
Haryana Deputy Chief Minister Dushyant Chautala on Tuesday indicated that there were shortcomings by the administration in assessing the situation in Nuh, where a communal violence erupted on July 31 during a religious procession.
A day after fact-checking website Alt News co-founder Mohammad Zubair was arrested by the Delhi Police, officials said on Tuesday that his 'objectionable tweet of 2018 led to a Twitter storm with hate speeches, detrimental to communal harmony'.
Govt renews search for five PSU bank chiefs; norms relaxed.
In separate letters to the two banks, located at Mylapore area, he said that under the relevant party laws, he continued to be the AIADMK treasurer.
Individuals could soon lose tax benefits available on fixed deposits with an over five-year term once the direct taxes code comes into force from April 2011.
Mundra fills the vacancy created by the retirement of KC Chakrabarty in April, two months before his five-year tenure was come to an end.
Prasad said country's postal department is 150 years old and needs improvement and the government is trying its best to do the needful.
The candidate will be expected to have at least two to three years of remaining service.
The most sought after exam for aspiring probationary officers will be held on Sunday, April 28.
'The stockbroker should have a good balance sheet to support its scale of operations. It should also have proper risk management in terms of margins so that it doesn't go bankrupt during extreme market movements.' 'The broker must have a track record of navigating several market cycles in an ethical and transparent manner.'
The Organised Crime and Corruption Reporting Project (OCCRP) on Thursday trained its guns on the Adani Group, alleging hundreds of millions of dollars were invested in publicly traded group stocks through Mauritius-based 'opaque' investment funds managed by partners of promoter family, charges the conglomerate denied vehemently.
'Hamas is going to be prepared. There will be booby traps and tunnels; it's going to be door to door fighting.'
From zeroing in on the best means for stake dilution to moving beyond microfinance, Bandhan navigates a tough path. Namrata Acharya reports.
High voter turnout was recorded in most of the seven assembly constituencies in six states where by-elections were held on Tuesday.
SC asked AG to file an affidavit about the measures undertaken by the govt and RBI to minimise public inconvenience.
Chatterji's posting at PMO is seen as a major move to bring the PMO and the Congress closer.
They alleged that the central bank has "failed miserably" in handling the situation post-demonetisation.
Go-getter, ambitious, dynamic, workaholic are some of the adjectives that officials who worked closely with B V R Subrahmanyam use to describe him.
A fierce competition among parties to offer freebies and guarantees, a scramble for tribal, OBC, women votes and a touch of Hindutva -- all have combined to make the Madhya Pradesh assembly polls a high-stakes battle with main rivals BJP and the Congress pulling out all the stops to gain power.
Credit card issuers saw significant erosion of their card base during the July-September quarter as the Reserve Bank of India's (RBI) norms mandated deactivation of cards that have been inactive for a year. The second quarter of the current financial year saw outstanding cards-in-force decline by 2.55 million to 77.7 million. Prior to this, the industry, on an average, was witnessing a net addition of over 1.5 million credit cards a month as players became aggressive on the unsecured lending business after the pandemic.
The order grants permission to the UK High Court Enforcement Officer to enter the 62-year-old tycoon's properties in Hertfordshire, near London.
Gill, who studied at Modern School and Hindu College in Delhi, joined Deutsche Bank in 1991 and became its India CEO in 2012.
The Andaman and Nicobar police have arrested a Port Blair-based businessman, carrying a reward of Rs 1 lakh, from Haryana in connection with a gang rape case, an officer said on Monday.
P Murugesan has been sending telegrams for 33 years in rural Tamil Nadu. He remembers hectic marriage seasons, many moons ago, when everyone sent telegrams. And days when even 15 Morse machines could not handle the load...
'If the RBI blesses us with a banking licence, we would like to launch a successful bank.'
'For years, the RBI has been warning banks on probable frauds in bank guarantees and advised them to exercise due care.' 'PSB staffers feel their jobs are secured, hence there is no need to be vigilant and exercise financial prudence.'
'Should the government be in the business of running banks?' 'Particularly when it does not have the fiscal strength to continuously infuse capital into such banks?'
Financial institutions are 300 times more vulnerable to cyberattacks than any other industry.
The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions
'Villages are much better prepared than towns as far as COVID-19 is concerned.'
'Imagine for a soldier -- first you conquer territory after fighting a fierce battle, suffer casualties and then you are ordered to come back to your side of the International Border in India.'
This is the first time that a retired officer has been appointed at this position for which a gazette notification was issued to announce the change in rules for the appointment.
Keeping the contents of the BBC documentary aside, Rishi Sunak's response needs to be viewed in the backdrop of Britain's historically close relations with Pakistan, argues Lieutenant General Prakash Katoch (retd).
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
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