Tokyo -- the songs Japan, Love In Tokyo and Sayonara from the 1966 Hindi film automatically pop up in the mind -- is buzzing and crowded like any other metropolis, discovers Deepa Gahlot. The modern apartment blocks are built cheek by jowl, so close together that one can open the window and borrow sugar from the neighbour in the next building. One of the fears of the Indian traveller is the unavailability of vegetarian food. Every city and town in Japan has an array of Indian restaurants that serve every variety of cuisine, right from Gujarati to Punjabi to Andhra and Kerala meals.
Insurance companies may soon face goods and services tax (GST) audits as tax authorities plan a "deep dive" into their business practices to check for the possibility of a raft of tax-linked irregularities. Several insurance companies are being probed for wrongly availing of the input tax credit without the underlying supply of goods and services based on fake invoices generated by their channel partners and intermediaries. "We want to deep dive into the overall business and see if there are further taxation issues besides commissions, which are already being investigated," a senior official of the Central Board of Indirect Taxes and Customs said.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
As many as 75 million households that do not have access to banking services will be covered and at least one bank account opened for each household, against the earlier proposal of two.
Consultants who help lease these properties say this is the steepest decline at least in a decade.
Under the partnership, IOC's rural petrol pump outlets -- Kisan Seva Kendras -- will act as the bank's Business Correspondents, HDFC Bank said in a statement.
Remunerate Business Correspondent Channel to bring sustainability and scalability in the model
Nandan Nilekani-led task force on an Aadhaar-enabled unified payment infrastructure has recommended setting up a network of one million interoperable micro-ATMs across the country.
In 2024 so far, 20 startups have already visited the campus with 80 placements.
As the deadline for direct cash transfer for subsidies in 43 districts nears, the government has started the mapping of gram panchayats to provide banking services in remote parts of the country.
Do a straw poll of any business friends and you will laugh and weep at what they go through, points out Rahul Jacob.
The Reserve Bank of India on Tuesday allowed for-profit companies with large and widespread retail outlets to act as business correspondents. The move will both deepen and broaden financial inclusion. Non-banking finance companies, however, have been excluded from the list.
Nearly two million postcards and eight million letters pass through India's post offices daily.
Medical emergencies don't warn before visiting you or your family. The best way to tackle them is to prepare yourself today to deal with the financial hole they leave in your pocket.
The finance ministry is planning to change the face of banking in the Red corridors at the tribal heartlands of India. The move is part of the government decision to redraw its law and order management and development plans in view of the growing Naxalite menace threatening India.
Black boxes from the jet that crashed and killed Yevgeny Prigozhin and nine other people have also been recovered by Russian investigators.
More people working in India's technology industry have lost their jobs in the first six months of 2023 than in the corresponding period in 2022.
Amphibious drones for maritime inspection... devices that extract pure oxygen from water for patients in need... self-balancing electric bikes...
Banks now ride on what is defined as a "banking outlet". This is a fixed-point service unit, manned by either the bank's staff or its business correspondent (BC), where all kinds of services - acceptance of deposits, encashment of cheques, cash withdrawal or lending of money - are provided for a minimum of four hours per day, for at least five days a week. Banks are now turning to reposition the manner in which they acquire customers, report Abhijit Lele and Raghu Mohan.
India's unemployment rate fell to a six-year low of 3.2 per cent in the July-June 2022-23 period, down from 4.1 per cent in the same period the previous year, according to the latest annual Periodic Labour Force Survey (PLFS) report. The report, released by the National Statistical Office (NSO) on Monday, showed a decline in unemployment rates in both rural and urban areas during the 2022-23 period to 2.4 per cent and 5.4 per cent, respectively, from 3.2 per cent and 6.3 per cent in the 2021-22 period. The unemployment rate for rural women (1.8 per cent) was lower than that for rural men (2.7 per cent) in 2022-23; in urban areas, the rate was higher for females (7.5 per cent) compared to males (4.7 per cent).
'Singh was forced to submit his resignation to Nitish Kumar few days ago and convinced to announce his offer to resign at the party meeting.'
Mobile phone outlets outnumber bank branches 15:1.
To achieve this, the bank plans to hire 15,000 business correspondents, who will help people in the rural areas to open bank accounts.
The main topics of discussions at this years Toronto conference organised by NetIP will be energy and Barack Obama.
For India, it is a symbol of will and a successful feat of arms.
The Adani Group led in adding net fixed assets, which are up more than 90 per cent since September 2019 or before COVID-19.
The top three fixed line players Bharat Sanchar Nigam Limited, Mahanagar Telephone Nigam Limited and Bharti Airtel reported a revenue decline.
The total number of unique investors directly investing in the stock market has surged to 80 million for the first time, with the latest 10 million additions taking place in just eight months, according to data shared by the National Stock Exchange (NSE), the country's largest bourse. "The 80 million unique PAN (permanent account number) investors correspond approximately to around 50 million unique households in India amounting to around 17 per cent households directly investing in the Indian stock market via NSE's extensive nationwide network of trading members," said the exchange. In 2021, the number of domestic households were pegged at 300 million.
'Most of the measures the finance minister announced will take effect after the lockdown.' 'By that time, millions of people will be starving.'
About 50,000 truckers, most of whom are single-truck owners, could be thrown off their businesses due to the recent fuel price hike. "Already the vehicle supply on the road is higher than the requirement. "With the fuel price hike, fleet owners will look to cut down fleet size wherever needed and due to this, small single-truck owners could be at the receiving end," Ashok Goyal, managing director at BLR Logistiks (I) Ltd said. The company has a fleet of 500 vehicles of all types-small, medium and large with pan-India presence.
India's biggest non-bank finance company, Bajaj Finance (BAF), is set to raise capital after a gap of four years. On October 5, the board of directors will meet to approve the fund raise by way of preferential issue and/or qualified institutional placement (QIP) subject to regulatory and shareholder approvals. The move, analysts said, comes ahead of expectations, and could be in the wake of simmering competition in the consumer lending space, especially with the launch of Jio Financial Services (Jio Fin). "While we still do not have finer details on the game-plan of Jio Financial, it has plans to initially foray into consumer and merchant lending.
FMCG major Hindustan Unilever Ltd on Thursday reported an increase of 12.74 per cent in its consolidated net profit at Rs 2,601 crore for the fourth quarter ended March 31, 2023. The company had posted a net profit of Rs 2,307 crore in the January-March quarter of the previous fiscal. Its revenue from sales during the quarter under review stood at Rs 14,926 crore, up 10.83 per cent, as against Rs 13,468 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing.
Food aggregator platform Zomato has discontinued its 10-minute delivery offering, Zomato Instant, as the business has struggled to grow and faces challenges in turning profitable, media reports said. The company has denied these claims, stating that the business is just being rebranded. This comes as the company's CEO Deepinder Goyal announced 800 job vacancies across 5 roles via a Linkedin post.
According to insurers, the premium is quite low, claims are very high.
Indian National Developmental Inclusive Alliance (INDIA) parties will make all-out efforts to thwart the government's move to pass the bill even as the numbers are stacked in favour of the NDA with BJD and YSRCP pledging their support to the government on the bill.
Coupang, a prominent online retail giant headquartered in the United States (US), is gearing up to establish a cutting-edge technology centre in India, aiming to hire several dozen skilled professionals by the end of the year, Business Standard has learnt. The intended expansion involves the recruitment of software engineers across various domains, underscoring Coupang's commitment to extend its global reach. The Indian team will support the company's global technology team, sources said.
189 people working at 59 Indian airports were found drunk on duty in the first half of this year, marking a 32 per cent year-on-year increase.
Foreign direct investment into the country is expected to rebound in the coming months on account of India's high economic growth, and steps to further improve the business environment of India, the Economic Survey said on Tuesday. The rise in global uncertainty in the wake of the Russia-Ukraine conflict, FDI equity inflows in the manufacturing sector in the first half of the current fiscal (April-September) fell below its corresponding level in the first half of 2021-22, the document, which was tabled in Parliament, said. The monetary tightening at the global level has further restricted the FDI equity inflows, the survey said.
The finance ministry on Friday asked state governments to accord priority to employees of banks and insurance companies for Covid-19 vaccination, saying they are exposed to high risks during these difficult times.
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
