Despite steady loan growth, the banking sector is expected to report subdued margins in the quarter ending June 2024 (Q1FY25), driven by high demand for deposits amidst tight liquidity conditions. However, according to Bloomberg analysts, listed banks are forecasted to see a 14.5 per cent year-on-year (Y-o-Y) increase in net profit. Estimates showed that banks' net interest income (NII), and revenues from interest minus interest expenses might grow 11.9 per cent Y-o-Y.
The Financial Intelligence Unit-India (FIU-India), the national agency responsible for analysing suspicious financial transactions, has received requests from four more offshore crypto exchanges to operate in India again, said a senior government official familiar with the matter. In the beginning of 2024, India had banned nine crypto exchanges - Binance, Kucoin, Huobi, Kraken, Gate.io, Bitstamp, MEXC Global, Bittrex, and Bitfenix - for non-compliance with anti-laundering law in the country.
Chanting 'Justice for RG Kar' and 'Justice for our sister', hundreds of IT professionals took to the streets of Sector V in Salt Lake, the city's IT Hub, protesting against the rape and murder of a post-graduate trainee doctor at RG Kar Hospital.
It said Delhi is facing an unprecedented heatwave with temperatures hovering around 50 degrees Celsius in some parts for the first time in the city's history.
At a time when the role of corporate boards is once again under the scanner, independent directors on the Paytm Payments Bank board have indicated that red flags were raised over regulatory issues but they may have been late in doing so. "As independent directors, we asked questions and monitored responses to the Reserve Bank of India (RBI). Many changes were made on compliances. "Obviously, in retrospect, it was not found to be enough," said one of the independent directors on the condition of anonymity.
A political source revealed that Naqvi assumed the role of chairman through a clear understanding between influential stakeholders and the Pakistan Muslim League-Nawaz (PML-N) and Pakistan Peoples Party (PPP).
'People are suffering, we are seeing visuals on every news channel. What measures have you taken to control water wastage if water scarcity is a recurring problem in summers'
'A mule operates someone else's account to transfer illegal money.'
'Unfortunately, most of our students use AI to replace knowledge when they should be using the AI tools to enhance their knowledge.' 'I am sorry to say, even those students who have opted to study AI have no idea what AI is.'
Pakistan's on-field performances not affected by frequent changes in PCB, says acting chairman
Shareholders of Reliance Industries have approved the appointment of Saudi Aramco Chairman Yasir Al-Rumayyan on the company board, with less than 2 per cent of votes cast against the proposal. Disclosing the results of shareholder votes on the appointment, Reliance in a regulatory filing said 98.03 per cent of votes were cast in favour of the resolution to appoint Al-Rumayyan for three years. As many as 10.89 crore shares or 1.96 per cent voted against the resolution, while 3.23 crore votes were declared invalid due to lack of proper authorisation, it said.
Hours after he resigned as Haryana chief minister along with his cabinet ministers, senior Bharatiya Janata Party leader Manohar Lal Khattar Tuesday hinted that he may be fielded by the party in the coming Lok Sabha polls.
The small finance bank model may still be testing the water some 10 years since its launch. According to banking experts, the regulator has taken a cautious approach in granting approvals. Unity Small Finance Bank was the last one to get a licence in the category in November 2021.
Kejriwal, who was arrested on March 21 by the Enforcement Directorate (ED) in the same case and later by the CBI which was probing corruption charges, stepped out after spending 155 days in Tihar jail. The AAP supremo, who was earlier granted three-week interim bail in the ED case, was given a resounding welcome by his party leaders and supporters who were drenched in heavy rain. Addressing party workers from the top of an SUV, Kejriwal, sporting a half-sleeve blue shirt, raised 'Inquilab Zindabad' and 'Vande Mataram' slogans.
If indeed we want the board to manage the RBI, probably the government should take a close look at the US Federal Reserve system which has a two-part structure - a central authority in Washington, DC, and a decentralised network of 12 Federal Reserve Banks located throughout the country, says Tamal Bandyopadhyay.
'Article 370 is now dug 70 feet deep in the ground. It cannot come out.'
Nine people were on the helicopter that crashed in northwest Iran on Sunday, including three officials, an imam, and flight and security team members, as reported by Tasnim news.
Ashraf to postpone his planned visit to Australia and seek a meeting with caretaker Prime Minister, Anwar ul Haq Kakaar.
As many as 80-85 per cent Paytm wallet users will not face any disruption because of regulatory actions, and the remaining users have been advised to link their apps to other banks, RBI Governor Shaktikanta Das said on Wednesday. The Reserve Bank of India on January 31 barred Paytm Payments Bank Ltd (PPBL) from accepting deposits, credit transactions, or top-ups in any customer accounts.
UCO Bank, Bank of Maharashtra, Bank of India, Indian Overseas Bank, Indian Bank, and Central Bank of India don't have a non-executive chairman.
In FY24, loans given out by such firms had topped a whopping Rs 146,517 crore, up by 49 per cent year-on-year and spread over 10.19 million accounts (up 35 per cent).
Florida Governor Ron DeSantis has signalled that he would largely bypass the New Hampshire primary next week and instead would focus on South Carolina where the Republican presidential primary is scheduled for February 24.
Six weather stations across Delhi recorded over 100 mm of rain in a single day, the India meteorological department (IMD) said on Thursday, categorising it as an "extremely intense spell".
Inzamam ul Haq blames ousted PCB Interim Committee chairman Zaka Ashraf for mess in Pakistan cricket
In a relief to former Aam Aadmi Party communication in-charge Vijay Nair, the Supreme Court on Monday granted him bail after nearly 23 months of incarceration in a money laundering case stemming from the alleged Delhi excise policy scam, observing that liberty is 'sacrosanct' and needs to be respected in cases involving even stringent laws.
Given the pressure from India Inc and the banking fraternity, it is surmised that the portfolio rejig will take place before April.
He will be the first bureaucrat to head the central bank in almost five years.
West Bengal Chief Minister Mamata Banerjee, who rushed to the district late on Sunday night, assured the people of all help from the administration.
The Centre has notified new norms for the appointment of directors of Indian Institutes of Management (IIMs), making it mandatory for applicants to have first class degrees in both Bachelor's and Master's, along with a PhD or equivalent from a reputed institute.
The Enforcement Directorate has issued two summons to Delhi Chief Minister Arvind Kejriwal to appear for questioning on March 18 and 21, official sources said Sunday.
According to Rosaviatsia, the Russian government's aviation agency, an individual with Prigozhin's name was on board.
As deputy governor, Patel headed the RBI panel to draft the monetary policy report, which became the basis of the ongoing reforms at the apex bank
Zaka Ashraf back in Pakistan, discussing 'incidents' in India with senior board officials
The National Payments Corporation of India on Thursday granted approval to Paytm-owner One97 Communications Ltd to participate in UPI as a Third-Party Application Provider (TPAP) under the multi-bank model. Axis Bank, HDFC Bank, State Bank of India, and YES Bank will act as Payment System Provider (PSP) banks to Paytm.
Hours after an Iranian military commander claimed to have located the crash site of the helicopter carrying Iranian President Ebrahim Raisi, conflicting reports emerged as the head of Iran's Red Crescent Society, Pir Hossein Koulivand, said that rescue teams are still searching the area for the accident site.
Raisi's condition currently remains unknown, Iranian state news agency IRNA has reported, after the helicopter he was traveling in crashed in the country's East Azerbaijan Province.
One of the 22 Indian crew manning a crippled cargo ship which collided against a bridge in Baltimore has suffered a 'minor injury' while the rest are all safe aboard the vessel, owners of the Singapore-flagged ship said on Wednesday.
The pictures and videos of the locals wading through waist deep water in Bawana JJ colony area, waterlogged houses, school and hospital went viral on social media even as teams of engineers from Haryana and Delhi worked on a war footing to plug the breach.
RBI has cited at least 10 areas where it has no control over PSBs.
Officials said that Moscow has dispatched a panel of inquiry to probe into the incident.
