The government will investigate every Indian name appearing in an unprecedented leak of financial records, known as the 'Pandora Papers', which alleged that many world leaders have secret offshore stores of wealth.
This makes it the most valued fintech company in the country after Paytm and Walmart-owned PhonePe.
Retired from the Indian Navy, his passage in the Golden Globe Race wasn't easy. Although he kept himself in the basket of race leaders, the position revealed little of what he was actually enduring. Shyam Menon captures the drama of Abhilash Tomy's incredible solo voyage across the world.
Here are six New Year Resolutions which will definitely help in achieving your financial goals in the long run.
Franklin Templeton Asset Management (India) on Tuesday said it strongly disagrees with the findings in Sebi's order in the case of winding of six debt schemes in 2020 and has decided to challenge the direction in Securities Appellate Tribunal (SAT).
2022 is shaping up as the year brimming with job opportunities for people who possess relevant skillsets. Therefore, it is crucial for fresh graduates and young professionals to enroll in relevant certification courses to add more feathers to their introductory portfolio
Lenders increasingly looking at your social media profile to evaluate creditworthiness
If bank and service provider are not compliant, pay manually, or give standing instruction linked to bank a/c, suggests Bindisha Sarang.
Few right moves and you can improve your credit score real fast
For smaller MFIs, resuming operations is more difficult because they haven't got any fresh bank credit sanctioned from their lenders.
FPIs would be classified into two categories instead of three, while the requirements for issuance and subscription of offshore derivative instruments would be rationalised.
If a holiday, banks will have to report the details on the next working day.
Assuring its users that their credit card information on Zomato is fully secure, the company said 'payment related information on Zomato is stored separately.
The year 2021 could turn out to be India's year of IPO with the domestic unicorns through their public issues setting "domestic stock markets on fire and global investors in a frenzy", an RBI article said on Tuesday. The successful Initial Public Offerings (IPOs) by new age companies in the recent months are a reflection of bullishness about Indian technology, it said. "...growth impulse is igniting financial markets. 2021 could well turn out to be India's year of the IPO.
'Yesterday, I was at a seed meeting where we gave outright grants up to Rs 20 lakhs or loans up to Rs 50 lakhs for new start-ups under 2 years.'
Such classfication brings with a high cost, including closing of formal credit channels, and likely criminal proceedings.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
HDFC Bank on Thursday said network outages that led to a regulatory ban on new credit card sales were not due to transaction volumes, and affirmed that it continues to stay in touch with the RBI for restarting the services but giving a timeline for it will be difficult. The bank said it is on its way to creating a new technology architecture for the future as part of the "digital factory" and "enterprise factory" initiative. But, it conceded that outages will continue under the older system though it will be working to minimise the time taken to bring the service back. In December 2020, the RBI took the unprecedented step of stopping the largest private sector lender from selling any new credit cards and also launching new digital services, because of a series of network outages.
To minimise hardship for legal heirs, home loan borrowers must purchase additional insurance cover while taking a home loan.
Markets regulator Sebi has kept in abeyance the processing of Go Airlines' draft papers for an initial public offer worth Rs 3,600 crore. Go Airlines (India) Ltd, which has announced rebranding itself as 'Go First', filed preliminary papers for an initial share sale worth Rs 3,600 crore in May. The proceeds will be mainly used to repay dues. The "issuance of observations (has been) kept in abeyance", according to Sebi's latest update on processing status of Go Airlines' draft offer documents. The information was updated on June 25. In Sebi parlance, issuance of observations implies its go-ahead for the IPO.
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These are FM radio, uplinking news & current affairs, print media (news & current affairs), commodity exchanges, stock exchanges along with depositories and clearing corporation, power exchanges, petroleum & natural gas refining, insurance, defence production and private security agencies.
Answers to six commonly asked questions about CIBIL score that will help clear your confusions
A user just needs to download any app floated by such fraudsters and apply for instant loans. These apps are mainly concentrated on Google Play considering the reach and popularity of Android systems.
The Reserve Bank of India (RBI) on Monday allowed microfinance lenders to fix interest rates on loans with a rider that those should not be usurious for the borrowers. A microfinance loan is defined as a collateral-free loan given to a household having an annual income of up to Rs 300,000. Each regulated entity (RE) should put in place a board-approved policy regarding pricing of microfinance loans, said the 'Master Direction - Reserve Bank of India (Regulatory Framework for Microfinance Loans) Directions, 2022'. In the past, the central bank used to announce the rates on quarterly basis.
As many as 3.2 lakh shareholders attended the meeting on the newly-minted JioMeet platform from 550 cities in 48 countries.
PSBs have been requested to reach out to MSMEs to provide bill discounting to them against their dues since they suffer the most from shortage of cash.
Credit Suisse said if the deal fructifies, then this will bring together the largest offline and online retailers in India.
Tata Group-owned Air India has informed the Centre that aircraft lessors wish to set up their special purpose vehicles (SPVs) outside India since they aren't enthused about the Indian 'legal structure' and are loath to take risks. Indian airlines have a combined fleet of about 700 planes; over 85 per cent are on lease. A majority of lessors are based in Ireland due to its attractive tax policy, light-touch regulations, and swift legal system.
'Last Saturday, the largest number of people travelled by air on a single day!' 'There is a kind of hunger among consumers to spend as they have been confined to their homes and not spending for almost 2 years.'
A crackdown on shell companies, increased regulatory compliance and failure of companies to avail bank credit, and defaulting on loans are some of the reasons cited by accounting professionals for the closure of such a large number of companies
With more and more youngsters preferring to shop online, the credit appetite has surged.
However, the Indian capital markets regulator rejected the claim saying it neither received any such request, nor provided any such information to the concerned department in Antigua.
In all this, the political establishment -- and especially the finance ministry -- appears the weakest link, and worse still, the possible reason for the political backing to Narain and Ramkrishna that emboldened them to defy all the sentinels -- the independent board, the auditors, top management persons like the chief compliance officer, the company secretary, and unbelievably the super-regulator Sebi, observes V Ranganathan.
Be it loan waiver or DBT transfer, it only helps in creating a "feel good" factor and postpones the problem for some time if structural problems are not handled.
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers home loan queries.
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
Nirav Modi, along with his wife Ami Modi, a US citizen, brother Nishal Modi, a Belgian citizen, and uncle Mehul Choksi, all accused in the CBI's FIRs in the case, left the country in the first week of January, weeks before country's biggest banking scam surfaced.
The bank is using readily available satellite images from ISRO and NASA for the purpose, and plans to scale up to 63,000 villages in the next three months.
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SpiceJet's ex promoter Ajay Singh is trying hard to pump in huge money into the airline.
Former RBI governors Urjit Patel and Raghuram Rajan have also expressed worry about the Mudra scheme, particularly government's target-setting practice and the rising bad loans.
