The government would be ironing out issues related to the controversial 'bail-in' clause in the earlier Bill, explore hiking the deposit insurance cover of customers, and decide whether the resolution framework should apply to public sector banks.
The best time to buy health insurance is when you don't think you need it.
Of course, NOT! Here's why. And here's how you can increase your Rs 1 crore retirement corpus.
The Bill when enacted will pave the way for setting up of the Resolution Corporation
Two senior Bihar government officers are under investigation after the Economic Offences Unit (EOU) discovered property documents, cash deposits, and valuable items allegedly disproportionate to their known income.
The CBI has registered a new case against Anil Ambani and Reliance Communications Ltd for allegedly causing a loss of Rs 3,750 crore to the Life Insurance Corporation (LIC) of India.
The Union Cabinet on Wednesday approved amendment to the DICGC Act to provide account holders access to up to Rs 5 lakh funds within 90 days of a bank coming under moratorium to ensure timely support to depositors. Last year, the government raised insurance cover on deposit five-folds to Rs 5 lakh to provide support to depositors of ailing lenders like Punjab and Maharashtra Co-operative (PMC) Bank. Following the collapse of PMC Bank, Yes Bank and Lakshmi Vilas Bank too came under stress, leading to restructuring by the regulator and the government.
'Other sectors that manage the savings pools of Indians are giving tough competition to life insurance companies.'
The much-anticipated cryptocurrency bill, however, is missing from the list, reports Shrimi Choudhary.
As the government moves to revamp India's securities legislation, unifying three different laws into the Securities Markets Code (SMC), regulatory experts and market insiders have raised concerns on potential funding challenges for the stock market regulator.
Payments banks have urged the Union finance ministry to increase their deposit limit for each account to Rs 5 lakh, according to a source who participated in a meeting, chaired by the Department of Financial Services Secretary M Nagaraju, in New Delhi. At present, they can accept deposits of up to Rs 2 lakh.
'We deposited money just yesterday, but they did not say anything...'
Those who have binged on credit must spend less, cut discretionary expenses, and focus on repayment.
A proposal to withdraw the bill was moved by Minister of State for Finance Pon Radhakrishnan and was approved by the House
Will the Financial Resolution and Deposit Insurance Bill endanger our bank deposits?
India borrows ideas that we don't need, like the FRDI Bill, and ignores the ones we need, like rewarding whistleblowers such as the ones who want to save Bombay Mercantile Bank, says Debashis Basu.
Why do we need a cure here for peculiarly Western diseases when we don't have those diseases, and which the West itself is not trying to cure, asks Debashis Basu.
Mutual funds, bonds, PPFs, equity and real estate are some options which offer varying rates of return.
'Clearly, the depositors of cooperative banks need the maximum protection.'
Think again. Not filing could cost you. Here's who must file, who should, and why it matters. What's more, the deadline to file your ITR has been extended till September 15, 2025
The Deposit Insurance and Credit Guarantee Corporation (DICGC) will pay the depositors of 21 stressed cooperative banks, including the Punjab & Maharashtra Co-Operative Bank (PMC Bank), up to Rs 5 lakh within 90 days. The Reserve Bank of India (RBI) had imposed restrictions on the withdrawal of deposits from these banks. Of the 21 banks, 11 are from Maharashtra, five from Karnataka, and one each from Uttar Pradesh, Kerala, Rajasthan, Madhya Pradesh, and Punjab.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The system envisaged under the FRDI Bill, if implemented properly, would help improve the efficiency of capital allocation without harming consumers, and without risking the stability of financial firms, says Ajay Shah.
Bank, bankruptcy reforms, Nabard Bill amendment on agenda.
Brokerages expect a further slowdown in Indian firms' revenue and earnings growth in Q4FY25, following low single-digit growth in the preceding three quarters, as factors like weak consumer demand and credit growth linger on.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health insurance related queries.
The provisions in the FRDI bill do not modify current protections for depositors adversely at all, the ministry held, maintaining that these rather provide additional protections in a more transparent manner.
The government on Friday notified the rules for insolvency and liquidation proceedings of financial service providers (FSPs). These rules, notified by the ministry of corporate affairs, will not be applicable to banks, reports Ruchika Chitravanshi.
With disruptions continuing, the productivity of Rajya Sabha fell to 13.70 per cent during the second week of the ongoing monsoon session from 32.20 per cent during the first week, resulting in an overall productivity of 21.60 per cent for the first two weeks.
This case is the largest investigated by the Pandemic Response Accountability Committee Fraud Task Force to date, US Attorney for the Northern District of Texas Leigha Simonton said in a press release.
The US House of Representatives averted a government shutdown on Thursday, narrowly passing a $1.1 trillion spending bill despite strenuous Democratic objections to controversial financial provisions.
'A mid-year review makes the end-of-year financial review manageable and less stressful.'
Noted banker Uday Kotak said the country's financial system is currently in a Darwinian mode as only the fittest lenders are able to survive. Kotak also said that historically, whenever there has been a problem with a private sector lender, it has been merged with a state-run bank.
The Monsoon Session of the Lok Sabha was adjourned sine die on Friday after 19 sittings that saw the passage of 14 legislation while Rajya Sabha came to an end after passing nine bills.
She said I treated her like a bachchi. At another moment, she said I had gone to various people and 'bitched' about her. She also threatened to bring the entire matter to the PM's notice. A revealing excerpt from Subhash Chandra Garg's We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.
It is your duty to be responsible to your health and start saving and investing early in a suitable health insurance, says Naval Goel
Health care costs are rising exponentially and most people are under-insured.
Despite the incessant disruptions and bitter clashes between political parties witnessed in the ongoing monsoon session of Parliament, lawmakers from across the political spectrum will display rare unanimity in the coming days to pass two bills aimed at protecting their interests.
The strike call is over privatisation, mergers, and also due to write-off of corporate NPAs, criminalisation of willful default
Prime Minister Narendra Modi on Wednesday said that the country's economic growth is picking up pace again and the domestic industry needs to enhance its risk-taking appetite. Noting the recent reforms taken by the government, the Prime Minister said that bringing reforms is a matter of conviction for his government, which is ready to take all risks in the national interest. "We have taken bold decisions. Reforms continued even during pandemic. "The government is doing reforms not out of compulsion but out of conviction," he said while addressing the CII's annual meeting.
