The bi-annual financial stability report noted that failure of an NBFC with the maximum capacity to cause solvency losses to the banking system will lead to a loss of 2.5 per cent of the total tier-I capital of the banking system.
Do not go for riskier options like co-operative bank only for the higher return. Even if you go for them, park only a small portion of your capital there, say Tinesh Bhasin and Sanjay Kumar Singh.
External Affairs Minister Sushma Swaraj met Foreign Minister of Antigua and Barbuda E P Chet Greene on the sidelines of the 73rd session of the United Nations General Assembly and raised the extradition issue of Choksi, who is currently in the Caribbean island.
Nearly two weeks after drone and missile attacks on its vital oil facilities, Saudi Arabia has said it is enhancing cooperation with India to combat terrorism, including choking funds to terror networks and exchange of information and intelligence.
Sanjay Gulati, a resident of suburban Oshiwara, went to a protest march held outside a city court on Monday morning and had been under stress because of his deposit being stuck.
The Uttarakhand government on Friday decided to waive for six months electricity and water bills of families and individuals affected in the subsidence-hit Joshimath.
Isn't it time to review the 'fit and proper' criteria for banking licence, particularly with reference to individuals applying for it, asks Tamal Bandyopadhyay?
Amid slowdown blues, the government has unveiled a raft of measures over the past few months aimed at improving liquidity in the system, moderating interest rates as well as credit growth apart from addressing stress in the NBFC sector.
The restrictions on Punjab and Maharashtra Cooperative (PMC) Bank has been extended for another three months till the end of March next year. Reserve Bank of India (RBI) has extended the restrictions as further action on the draft scheme for the takeover of the crisis-hit bank by the Delhi-based Unity Small Finance Bank (USFB) is in process. The central bank had prepared a draft scheme of amalgamation and the same was placed in the public domain on November 22 as part of seeking suggestions and objections, if any, from members, depositors and other creditors of PMC Bank and USFB.
The crises of the 21st century, 9/11, the economic meltdown, COVID-19, Russia-Iran war and the Hamas-Israel war seem to be never ending. In this situation, Iran might be contemplating a nuclear deterrent to defend itself, observes Ambassador T P Sreenivasan, the distinguished long-time Rediff contributor who turns 80 on June 17..
Lou also spoke about China's tensions with neighbouring countries without directly mentioning the eastern Ladakh border standoff with India since May 2020 which resulted in the Galwan Valley clash in June of that year.
All lenders, including public, private, rural and cooperative banks, have been asked to make arrangements to gather information on deposits of the Specified Bank Notes.
In a circular, the ministry said all NGOs which were registered under the Foreign Contribution Regulation Act should receive donations from abroad in a single designated bank account.
RBI's oversight cadre move creates HR trouble, officers threaten agitation.
'Farmers are much pained today.' 'They have no idea what to do with the money they have.'
Banks, cooperative banks and post offices will have to report to the tax department all cash deposits between April 1 to November 9, 2016.
Many requests are pending with the Swiss authorities.
All three agreed to have the proceedings heard in English and each of them nodded that they understood the charges of first-degree murder and conspiring to murder Nijjar, the report said.
The World Bank has announced that it will stop all its programmes in Russia and Belarus with "immediate effect" in response to Moscow's military operations in Ukraine and "hostilities" against the people of the war-torn country. On February 24, Russian forces launched military operations in Ukraine, three days after Moscow recognised Ukraine's breakaway regions - Donetsk and Luhansk - as independent entities. The decision comes as a large number of countries, organisations and businesses are severing ties and have imposed sanctions on Russia over the country's invasion of Ukraine, and with Belarus for its support and cooperation with Moscow.
Many senior citizens fail to disclose certain incomes like interest, commissions, or dividends in their ITRs.
Its obsession for growth, chasing corporate clients and giving up its original mandate of meeting the needs of local trade and businesses. A quarter of its loan book has gone bad. That's an error of business strategy, points out Tamal Bandyopadhyay.
The Reserve Bank of India (RBI) on Wednesday announced to increase the policy repo rate by 50 basis points to 4.9 per cent, the second hike in five weeks aimed at quelling the inflation. The MPC vote was unanimous and has decided to keep stance withdrawal from accommodative, RBI Governor Shaktikanta Das said in a press conference on Wednesday. The decision was taken during a three-day meeting of the RBI's Monetary Policy Committee (MPC) to review the interest rates in the country. The MPC voted unanimously to increase the policy repo rate by 50 bps to 4.90 per cent," Das said.
Both countries have been working on administrative assistance.
Banking services across the country were hit on Wednesday by the day-long strike by 10 central trade unions and 14 bank unions, but workers of largest lender SBI and a few other banks stayed off the agitation.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
Two of the depositors had died of cardiac arrest, while another, a woman doctor, allegedly committed suicide.
In a circular, the ministry said all NGOs registered under the Foreign Contribution Regulation Act should receive foreign donations in a single designated bank account.
The Maharashtra cabinet on Thursday cleared a proposal that offers an option of availing the Old Pension Scheme (OPS) to the state government employees who joined the service after November 2005.
The Strengthening Rural Credit Cooperatives Project supports the government of India's programme to reform and revitalise the country's rural Credit Cooperative Banks.
The federal agency said it conducted raids against a director of Zanmai Lab Pvt Ltd, which owns WazirX, on August 3 in Hyderabad and alleged he was "non-cooperative". The agency's probe against the crypto exchange is linked to its ongoing investigation against a number of Chinese loan apps (mobile applications) working in India.
India, President of the G20, will host global leaders for the Summit scheduled to take place on September 9 and 10 in New Delhi.
The Maharashtra government will amend its agriculture law to protect farmers and Agriculture Produce Marketing Committees (APMCs) as the three central farm laws are not in the interest of agriculturists, state Revenue Minister Balasaheb Thorat said.
The waiver would cost Rs 18,000 crore to the state government.
Over 4 mn bank accounts could be dormant, suspects tax department.
The mystery surrounding the alleged fund diversion from Zee Entertainment Enterprises (Zee) by founders Subhash Chandra and Punit Goenka has thickened with speculations of an amount multiple times higher than that cited by the ex-parte interim order passed by the Securities and Exchange Board of India (Sebi) dated June 12, 2023. While Zee shares witnessed a fresh selloff on Wednesday, news reports of accounting fraud left investors guessing about the hole in the media broadcaster's books. An order by the Securities Appellate Tribunal (SAT) in October 2023 had clearly hinted that Sebi's investigation had found a deeper rout.
'With a solid investment programme and sustainable development strategy, India can exceed 7 per cent growth per year, or a doubling of high-quality national income within a decade.'
Amul's move is being seen by many, especially opposition parties, as a threat to KMF's famed dairy brand 'Nandini'.
Prime Minister Narendra Modi said he looks forward to useful conversations with his fellow leaders from China, South Africa, Brazil and Russia on addressing pressing international and regional challenges that stand in the way of their goals.
'No action will be taken against Ajit Pawar. I am sure.'
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