Banking operations at public sector banks across the country were impacted on Tuesday as the United Forum of Bank Unions (UFBU) went on nationwide strike demanding the immediate implementation of a five-day work week.
India's 2024 Paris Olympics medallists, including star javelin thrower Neeraj Chopra and shooter Manu Bhaker, were felicitated with cash awards by the Indian Olympic Association.
'About $8.5 billion in free cash, about $3 billion as annual debt refinancing, and $3 billion-4 billion in fresh borrowing. An additional $1.6 billion-1.8 billion will come from development profits in 2025-26.'
State governments have requested the Centre for export incentives, lifting of import duty in the case of cotton for the textile sector and GST exemptions.
Harpreet Singh alias Happy Passia alias Jora, an alleged terrorist who had illegally entered the US, was arrested by the FBI and US Immigration and Customs Enforcement's Enforcement and Removal Operations in Sacramento.
The stage is set for the loading of cash into automated teller machines (ATMs) through the cassette-swap mode with an initial four-phased roll-out across 30 cities from June 1. The lockable cassette-swap will do away with the current practice of open-cash replenishment into ATMs. Cash-in-transit (CIT) firm personnel, tasked with loading cash into ATMs, will not have to touch it anymore. Cash-handling will be done by CITs at the cash centre, and the task of taking into account the amount of cash remaining from the last cassette-load will also be made simpler.
Christina Rindiki's all-women team on the India-Myanmar border in Champhai, Mizoram, delivers 300 plus Amazon packets daily. The women handle all aspects of the operation and made around 450 deliveries per day this month alone. This is their story.
Around 2,500 engineers and 45,000 cash management employees step up efforts to complete the target of recalibrating 12,500 ATMs every day.
Automotive (auto) major Mahindra & Mahindra (M&M), which is readying to launch nine sport utility vehicles (internal combustion engine/ICE), seven Born Electric Vehicles (BEVs), and seven light commercial vehicles by 2030, has outlined an investment of Rs 27,000 crore in its auto business between 2024-25 (FY25) and 2026-27 (FY27). Over the next three years, the company will deploy Rs 37,000 crore, including its auto business, farm business (Rs 5,000 crore), and service business (Rs 5,000 crore).
According to the RBI's April 6 circular, cash loading companies, which take cash around the country, are supposed to increase their net worth to Rs 1 billion within 90 days.
The Union Territory of Ladakh created history by successfully conducting its maiden 21-km trail running event in sub-zero temperature at 13,862 feet high Pangong Tso.
'EV-charging is the next big opportunity after fuelling'
With the signing of the pact, the Quad grouping of India, Japan, Australia and the US is set to gain more heft now, notes Dr Rajaram Panda.
At ATMs, as a step to avoid getting Rs 2,000 notes, people are withdrawing Rs 1,900 in Rs 100 notes and then putting another request for the balance Rs 600, so that they remain within the limit of Rs 2,500 per day of withdrawal.
The specifics will also cover what's fit and proper to be a chest manager; the insurance and re-insurance aspects; and the new capital threshold, which is Rs 100 crore now.
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
Capital markets regulator Sebi on Monday came out with a framework for operationalising the gold exchange, wherein the yellow metal will be traded in the form of electronic gold receipts (EGRs). The stock exchange desirous of trading in EGRs may apply to Sebi for approval of trading in the new segment, the regulator said in a circular. The bourses can launch contracts with different denomination for trading or conversion of EGR into gold. Under the new framework, the entire transaction has been divided into three tranches-- creation of EGR; trading of EGR on stock exchange and conversion of EGR into physical gold.
These companies, the study said, will have to either dip into its cash balance or borrow in short term.
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
Today, India is one of the fastest-growing eCommerce markets in Asia/Pacific along with China.
Rama Mohana Rao's son became director of 7 companies after he became chief secretary.
Snapdeal said it will give its users the option to defer the delivery by a few days till new currency notes become easily available.
To ensure enough food to the poor during the lockdown, the government last week started distributing free 5 kg of rice or wheat per person and 1 kg pulse per household under the Pradhan Mantri Garib Kalyan Yojana to over 81 crore PDS beneficiaries.
'It is going to be as high as 50% in the coming one or two months and can be about 20% to 25% in the medium term.'
The cloud kitchen market in India will hit $1.05 billion by 2023. Just 13% of the total market has been utilised so far.
Defending champions Mumbai Indians have opted for Jaipur's Sawai Man Singh Stadium as their home ground.
Industry estimates over 30 tonnes of gold were sold on Akshaya Tritiya this time.
Continuing its probe into covert activities of Lashkar-e-Tayiba, the National Investigation Agency has arrested a man hailing Bihar in the national capital,
From farmers to cement, steel, logistics, transportation and automobiles, the back-end is struggling to get going due to the liquidity crisis.
The longer it takes for RBI and the government to stabilise monetary conditions in the economy, the more severe and long lasting will be the damage caused to various sectors of the economy, especially to the informal sector, says Rajeswari Sengupta. Rajeswari Sengupta discusses the impact of this move on money supply, output and prices, in the short- and medium-term.
Not just from the likes of Alibaba and Didi Chuxing, Indian startups saw a surge in Chinese funding from financial investors in 2019. This is a seven-fold jump from $459 million in 2016.
'Our biggest advantage is that the troops are much better trained and motivated than the Chinese and can improvise and manage with a part of the resources.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
With future prospects being difficult to predict, hiring for a short period is proving to be cost-effective
No longer an in-house task; hiring legal eagles is now becoming norm for M&As, fundraising
'Till now, we were under tremendous stress. The economy was not recovering, the financial cycle was not moving and the banks were not supporting.' 'With the government pumping in money to the banks and asking the NBFCs to give priority to the MSME sector, there will be a revival.'
According to a 2013 CLSA report , online retail in India was worth $3.1 billion, or about 10% of the country's organised retail market
Online retail is increasing market share rapidly.
HNI equity folios up 46% in the first half of FY15.
Though e-commerce opens a new world for the handicraft industry, empowering craftspersons still remains a real challenge.
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