RBI Deputy Governor Swaminathan J has asked banks to follow KYC guidelines with both "precision and empathy", failing which regulatory actions will be taken against them by the central bank. Addressing a Conference of Directors of Private Sector Banks here on Monday, the Deputy Governor also expressed concern that in many cases, customer grievance mechanisms, including the Internal Ombudsman structure, are treated more as a formality than as a robust, effective resource.
Ministry mulls graded funding for sports federations
'If it doesn't, it will continue with measures to infuse liquidity, signalling a new cycle,' predicts Tamal Bandyopadhyay.
Delhi HC open to IOA reconstituting ad hoc panel for WFI's functioning
In the shadows of a sliding rupee, India's knitwear hub Tiruppur is weaving a success story. While the domestic currency edges closer to the 86 mark against the US dollar, triggering concerns for many sectors, this textile town in Tamil Nadu is finding opportunity in adversity: Between April and December alone, Tiruppur's exports reached Rs 26,000 crore, almost eclipsing last financial year's total of Rs 30,690 crore.
Eyeing a third straight Olympic appearance in 2028 (if the sport is included in the roster) Tokyo Games bronze medallist Lovlina said she will take it one step at a time from here on.
Perhaps because the Modi government had some differences of opinion with two of the economist governors (one of whom was appointed by the Manmohan Singh government), there is a view that its political leadership prefers a civil servant to head the RBI, notes A K Bhattacharya.
It was a protest which held a mirror to the government of a state taking pride in its commitment to democracy, gender equality and social indices.One person, who in his employed days had known governments and political parties at close quarters, told me that public perception of how the Kerala government handled the ASHA workers' strike had been terrible, reports Shyam G Menon.
To ease the potential liquidity stress, the Reserve Bank on Friday slashed Cash Reserve Ratio (CRR) by 50 basis points to 4 per cent, a move that would unlock Rs 1.16 lakh crore bank funds. The RBI on May 4, 2022 had raised CRR to 4.5 per cent from 4 per cent in an off-cycle Monetary Policy Committee (MPC) meeting, with effect from May 21 the same year.
The cabinet of the new government led by Rekha Gupta balances representation of all major communities that propelled the Bharatiya Janata Party to power in Delhi with a massive majority after over 26 years.
Will allowing business correspondents to hawk insurance products help in reviving 5-lakh strong field agents as a viable channel?
The trials were initially planned for February 27-29 but got postponed
'Challenge is basically near-term growth as the outlook has turned a bit adverse.'
'The message is loud and clear: "If you're not falling in line, we will open a line of understanding with the MNS, and then the Shiv Sena will be in trouble".'
The meeting of the Joint Committee on Waqf (Amendment) Bill took an ugly turn as the Trinamool Congress MP smashed a glass water bottle and threw it towards panel chairman Jagdambika Pal of the Bharatiya Janata Party during a heated exchange of words with BJP's Abhijit Gangopadhyay, a former Calcutta high court judge.
Amid escalating tensions over the Sinjauli mosque in Shimla, a Muslim welfare committee on Thursday urged the municipal commissioner to seal the unauthorised portion and also offered to demolish it in accordance with a court order.
Just eight months after its good showing in the Lok Sabha polls, the Indian National Developmental Inclusive Alliance (INDIA) seems to be running out of steam with internal bickering and conflicting ambitions resulting in diminishing electoral returns that have once again put the Bharatiya Janata Party in the driver's seat in national politics.
Police have registered a case on charges of culpable homicide not amounting to murder against the driver of a BEST bus involved in an accident in Mumbai which claimed six lives and left 43 others injured, officials said on Tuesday.
Shaktikanta Das will demit the office on Tuesday after completing six years as the 25th Governor of the Reserve Bank of India. Revenue Secretary Sanjay Malhotra will replace him as the 26th Governor. He was appointed as the Governor on December 12, 2018, after the abrupt exit of Urjit Patel.
Using the debt-to-GDP ratio as a fiscal anchor aligns with efforts to promote fiscal transparency through proper disclosure of off-budget borrowings.
Pakistan's head coach for limited-overs format Gary Kirsten has returned home with the board set to announce the successor to captain Babar Azam in white-ball formats later in the month.
Ram Rahim, lodged in Rohtak's Sunaria Jail, is serving a 20-year sentence handed out to him in 2017 for allegedly raping two of his disciples.
'The finance minister missed yet another opportunity to simplify the income tax structure in the Budget.' 'This was an opportune moment to get rid of the old tax system entirely and move fully to the new system,' asserts M Govinda Rao, member of the 14th Finance Commission.
Commencing hearing on pleas challenging the constitutionality of the Places of Worship Act, 1991, the Supreme Court asked the Centre to reply to cross-pleas against or seeking implementation of statute.
Manmohan Singh represented the finest aspects of India, asserts Aakar Patel.
Religare Enterprises, a financial services firm, has disclosed that the Reserve Bank of India (RBI) turned down its application to appoint Rakesh Asthana as its whole-time director in May this year without citing any reasons. Asthana is a former top official of the Central Bureau of Investigation (CBI). In a notice to the stock exchanges, Religare said that while the company and Asthana were weighing the options of dealing with the letter of refusal by the RBI, it was also busy in preparing for the "herculean task" of making ready multiple applications to regulators.
Senior bankers anticipate discussions on issues related to technology, cyber security, and customer protection.
As RBI governor, Sanjay Malhotra will have to give the highest priority to the interest of the economy while deciding on the growth-inflation trade off at Mint Street.
Facing Kerala in the quarter-finals in Pune from February 8, J&K will be looking to script history as they aim to make it to the Ranji Trophy semi-finals for the first time ever.
Private sector bank board members have urged the Reserve Bank of India (RBI) top brass to consider workload management of the boards as they feel there are too many issues that go to the boards for approval and the situation becomes unmanageable at times. The views were conveyed to the regulator on Monday in a conference of directors of private sector bank boards on the theme "Transformative Governance Through Sound Boards". RBI governor Shaktikanta Das, deputy governors Swaminathan J and M Rajeshwar Rao, and other senior officials of the central bank participated in the conference.
The International Boxing Association (AIBA) on Wednesday constituted a five-member ad-hoc committee for finding a group which would organize and administrate the sport in India.
Current senior selector Aaqib Javed and former spinner Saqlain Mushtaq are in fray to replace Gary Kirsten as Pakistan's new white ball coach after the former Proteas batter stepped down
Following his removal from the committee, Riaz took to X and wrote, 'There is a lot I can say but I don't want to be part of the blame games.'
BP Plc has won a bid to operate ONGC's giant Mumbai High oil and gas field by offering up to 60 per cent increase in output over baseline, the state-owned firm said on Wednesday. State-owned Oil and Natural Gas Corporation (ONGC) had in June last year floated a tender seeking foreign partners to reverse declining output at its flagship Mumbai High fields, offering a share of revenue from incremental production plus a fixed fee but not any equity stake.
'I had to persuade him. I think he was a sceptic to begin with, but later on he was convinced that what we were doing was the right thing to do, that there was no other way out.'
An astute reader of the game both on and off the field, Ashwin might have gauged what was in store going forward and that perhaps made it easier for him to take a call.
Three Hindu temples were vandalized by a mob in Bangladesh's Chattogram on Friday, following protests and violence sparked by the arrest of a former ISKCON member on sedition charges. The attack occurred in the port city's Harish Chandra Munsef Lane, where the Shantaneshwari Matri Temple, the nearby Shoni Temple, and the Shantaneshwari Kalibari Temple were targeted. Temple authorities reported that a group of hundreds threw brickbats at the temples, causing damage to the Shoni Temple and the gates of the other two. The incident has triggered diplomatic tensions between India and Bangladesh, with both countries expressing concerns over the safety of their respective minorities.
The principal opposition party though appeared content securing 99 of the 543 seats in the 2024 national elections as against its all-time low of 44 in 2014 and then 52 in 2019.
India has its share of both large tech companies and large national laboratories, but why is it that these don't seem to be at the forefront of any innovation news headlines? asks Ajit Balakrishnan.
Pakistan captain Shan Masood and head coach Jason Gillespie will no longer have a say in selection matters after the PCB selectors cut down their powers, according to a source.
