'We may bite the bullet and draw up plans for privatisation.' 'If that is done now, the sale of the government stake will fetch money; a delay will see erosion in whatever value is left in these banks,' says Tamal Bandyopadhyay.
Each financial product is governed by a different regulator and the rules for gifting vary, points out Tinesh Bhasin.
Even under the RTI response, all public sectors banks have washed their hands of any responsibility.
Currently the currency in stock is about Rs 2 lakh crore and the reserves are adequate to meet any unusual spurt in demand
Here's how the move will affect the banks' customers.
The two states account for 24% of total accounts opened under financial inclusion scheme.
'We are probably working with flawed data on household finance.'
India has received the fourth set of Swiss bank account details of its nationals and organisations as part of an annual automatic information exchange under which Switzerland has shared particulars of nearly 34 lakh financial accounts with 101 countries.
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.
When looking for alternatives, consider several parameters -- your investment horizon and liquidity requirement, post-tax returns, and risk.
Global rating agency Moody's on Monday said HDFC Bank's multiple digital outages are credit negative as such recurring incidents could lead to moderation in revenue and flight of customers to other banks. The recurring outages also risk hurting the bank's brand perception among a growing and increasingly digitally savvy customer base, and increases the potential that clients switch to other banks, which would lead to a reduction in revenue and low-cost retail funding, Moody's said in a statement.
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
The value of unclaimed securities and other assets was nearly Rs 20,000 crore in March 2020.
Financial wealth in India grew 11 per cent to $3.4 trillion in 2020 despite the coronavirus pandemic, a global consultancy estimated on Tuesday. The 11 per cent growth in financial wealth was at par with the compounded annual growth rate for the five years to 2020, the report by BCG said. Financial wealth is defined as the total wealth excluding real assets and liabilities held by adult individuals.
Your promise to protect bankers for their commercial decisions is a huge confidence booster, but how does one define a commercial decision? Are our investigative agencies well equipped to dissect lending decisions of bankers?
South leads; North-East at bottom but moves ahead, finds out the IndiaSpend Team
'No commercial bank will be allowed to fail. There is nothing to worry about.'
'... as has been happening in the last three weeks, then the foreign exchange reserves will not be comfortable to ensure that the rupee does not fall drastically.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
'67 per cent of our transactions happen digitally and about 93 per cent of transactions happen outside the branch.' 'Despite that, there is ample scope for promoting banking-related activities in branches.' 'So, for some time, we will have to, probably, live with the same structure.'
In advanced economies where the financial system is more matured, the form of shadow banking is more of risk transformation through securitisation.
Priyadarshini Maji evaluates the impact that payment banks are likely to have on your financial life.
Why are investors gung-ho about State Bank? asks Tamal Bandyopadhyay.
Here's how you can ensure you have enough in your kitty and be in command of your finances.
The incident had acquired political overtones with the Bharatiya Janata Party and West Bengal governor Jagdeep Dhankhar hitting out at the Mamata Banerjee government over the killings, and the RSS claiming the teacher was its supporter.
Most of the lenders had informed their customers in advance about the strike call given by All India Bank Employees Association (AIBEA), All India Bank Officers' Association (AIBOA), BEFI, INBEF, INBOC and Bank Karmachari Sena Mahasangh (BKSM), and its impact on banking services.
Moody's said the government will face challenges in achieving its deficit target for the fiscal year ending March 2021, amid persistent structural and cyclical headwinds to growth.
Investment advisor Sheetal Jhaveri busts popular money myths to make you a confident investor
A well-run non-banking company has better margins than a bank, but the objective of setting up Ujjivan was to provide comprehensive financial inclusion, Ujjivan Small Finance Bank MD & CEO Samit Ghosh tells Anup Roy in an interview.
While reasonable safeguards should be built in, there can't be restrictions on the individual's right to leave her/his money to whoever s/he wants, notes Harsh Roongta.
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.
Paytm plans to launch mutual funds, insurance and banking services and s also providing the option to transact offline with a physical debit card
Individuals could soon lose tax benefits available on fixed deposits with an over five-year term once the direct taxes code comes into force from April 2011.
Fraud-hit Punjab and Maharashtra Cooperative (PMC) Bank on Tuesday invited expression of interest (EoI) from potential investors for investment or equity participation in the bank for its reconstruction. Subsequent to commencement of the normal day-to-day operations, it will be open for the investors to convert the bank into a small finance bank by making an application to the RBI, the lender said.
If a salaried employee does not possess Form 16, he can still file the I-T Return with the help of his salary slips and Form 26 AS.
Companies such as Tata Sons and Bharti Telecom, which are unlisted but have listed subsidiaries, may soon have to file periodic financial statements with the registrar of companies under the new provision of the Companies Act. The provision requires greater financial disclosures by a certain category of unlisted companies.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
If the nominations are not in place, the heirs need to go through a lengthy process to get access to the money cautions Bindisha Sarang.
Individuals often postpone tax planning till the end of the financial year. As the deadline for showing proof of investments draws near, they invest randomly in any product that will help them save tax for that year. Later, they realise that it is not suited for them, so they abandon it. Tax planning should not be a standalone, one-off activity, but should be in sync with your overall financial plan, says Sanjay Kumar Singh.
A number of insurers offer health policies designed especially for senior citizens.
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