With the above relaxation, more than 70 per cent of the depositors of the bank will be able to withdraw their entire account balance, the central bank said as most of its account holders have an average balance of just about Rs 10,000.
The panel also suggested that Know Your Client rules should be based on the risk profile of investors.
Finance Minister Arun Jaitley said it has been decided to fix the minimum wages at Rs 350 per day for unskilled non-agricultural workers for 'C' category areas keeping in view the modalities of fixing minimum wages.
India is scheduled to play against Pakistan in their 2019 World Cup match in Manchester on June 16.
These recommendations are based on interactions held by the Banks Board Bureau with eligible candidates from PSBs towards appointment against vacancies in PSBs for the period 2018-19
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
Owing to Finance Minister Nirmala Sitharaman being new to her role, a number of crucial announcements in the Budget bore Garg's imprint, especially the decision to borrow in overseas markets, reduce the fiscal deficit as a percentage of gross domestic product, and resort to off-Budget borrowing to meet that target, says Arup Roychoudury.
Will RBI chief have the final say, in the form of a veto
The programme will also include all the age-group national teams and the 'A' squads.
The Central Information Commission (CIC) on Friday urged the Supreme Court-appointed Committee of Administrators running the Board of Control for Cricket in India to 'immediately initiate efforts' to look into the issues raised by historian Ramachandra Guha in his resignation letter.
It was an extraordinary turnaround for an Olympics that was expected to be held without major issues by a country known for public safety and economic stability. It also revealed a fatal miscalculation by Japanese and IOC officials of public sentiment at a time of heightened fears over the coronavirus.
With Anil Kumble's contract ending after the ICC Champions Trophy, the Board of Control for Cricket India on Thursday invited applications for the post of head coach for the senior men's team.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
The Asian Games-bound Indian athletes should adhere to the 'No Needle Policy' during the mega-event in Indonesia, the Indian Olympic Association instructed on Wednesday.
Officers responsible for preparing budgets say their detailed costing projections are mostly ignored. The defence ministry simply takes the previous year's budgetary allocations for each service and adds a small percentage to those.
Most listed corporate entities in the country are in a fix. With the sudden declaration in late March of a nationwide lockdown to tackle the Covid-19 pandemic, the final calculations of their financial results for the year 2019-20 (FY20) are hanging in limbo. Till April 19, only 41 of the 3,947 companies listed on the BSE have managed to finalise the dates for the declaration of their yearly financial results.
The senior Congress leader's role has come under the scanner of investigating agencies in the Rs 3,500-crore Aircel-Maxis deal and the INX Media case involving Rs 305 crore.
Large urban co-operative banks may come to be solely under the provisions of the Banking Regulation Act, even as the smaller among them are to remain within the exclusive fold of the Registrar of Co-operative Societies. The upcoming changes will bring the curtains down on the vexed issue of dual control of UCBs, which has been in vogue for 54 years. The new framework will affect 1,551 UCBs in the country, which had a total business of Rs 7.36 trillion.
The National Green Tribunal on Monday directed the Delhi government and city police to demolish illegal constructions at controversial self-styled godman Asaram's ashram in Karol Bagh locality.
There is so much liquidity in the system, in the global economy, and that's why the stock market is very buoyant. It will certainly witness correction in the future: RBI's Das.
Rediff.com highlights the provisions of the controversial Andhra Pradesh Reorganisation Bill, which was introduced by Home Minister Sushilkumar Shinde in Lok Sabha on Thursday amidst pandemonium.
RBI says haste in easing norms for banks harmful to economy.
Has the Modi government been more at odds with institutions than other governments? There is no doubt that there have been more run-ins. While the RBI and CBI cases have drawn attention, there have been others, less publicised, Subhomoy Bhattacharjee points out.
The rotation policy followed by the BCCI and the travel route for the visiting team forced the BCCI to schedule the first match of the tour in Delhi
Calling the Budget 2018 'anti-labour', the Bharatiya Mazdoor Sangh will observe February 20 as a 'black day'.
The announcement of a deferral is expected to be part of Finance Minister Arun Jaitley's Budget speech on February 29.
So far, almost every positive development in terms of the bilateral ties has been overtaken by innate hostility that is often driven by popular sentiments.
The ICICI board, which consists 12 members, is divided on whether Kochhar should be on leave during the internal enquiry
RBI had received 72 applications for small finance bank licences.
The Pakistan Cricket Board (PCB) has returned an amount of seven million rupees to Shoaib Akhtar which it had deducted from the former fast bowler's earnings as part of a fine imposed on him years ago. An official of the board said that during a meeting between Chairman of the executive committee, Najam Sethi and Akhtar, the matter was amicably resolved.
The two-member COA comprising Vinod Rai and Diana Edulji have recommended election for fresh set of office-bearers by removing acting president CK Khanna, acting secretary Amitabh Chaudhary and treasurer Aniruddh Chaudhry.
While Rs 37,461.01 crore has been allocated for higher education, Rs 56,386.63 crore has been earmarked for school education.
'As a person who has seen the treasure, I am worried about its safety.'
'There will always be hiccups given that the Namami Gange programme is spread over different sectors and involves several agencies.'
Some NGOs and individual petitioners have moved the apex court against the decisions of some high courts, including the Bombay high court and the Kerala high court, to allow municipal authorities to deal with the stray dogs menace as per the rules.
The Union health ministry on Tuesday said that aid received from other countries has been distributed in different states to help deal with the rising number of COVID-19 cases.
Centre releases Rs1,712cr to TN, Rs 1,234cr to Karnataka for drought.
Interception of electronic communication should also be covered in the powers being sought, the report said.
Chidambaram and his son Karti were named in the chargesheet filed by the Central Bureau of Investigation in the case on July 19.
The one-member commission of inquiry under former solicitor general Gopal Subramanium will probe the alleged irregularities in DDCA.
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