Government's financial inclusion mission is well intentioned, but it may be putting a severe strain on the banking sector.
While some are relatively new in this business, Vodafone, which has 1.8 million touch points in the country, has been offering basic banking and payment services through its pre-paid mobile digital semi-closed wallet called M-Pesa since 2012.
Payments banks are niche banks which will be allowed to function with several restrictions.
The government has also announced a slew of measures to ease cash flow for the rural sector.
They say new rules that make over-billing by private hospitals a criminal offence will hurt their ability to treat patients properly, says Subir Roy.
For stressed loans, the need is to prevent disruption in cash flows from a systemic perspective, conserving employment and assets in untainted enterprises with the potential for recovery, says Shyam Ponappa.
Trustees of Retirement fund body EPFO will decide tomorrow on amending the scheme to provide a minimum monthly pension of Rs 1,000, which will immediately benefit about its 28 lakh pensioners.
Can't believe you can file your income tax return without Form 16? Read this...
Leaving it to Parliament the issue of amending laws to provide heavier penalty on banks indulging in such acts, RBI Governor D Subbarao also dismissed perceptions that the central bank was going soft on errant banks.
Rating agency Standard & Poor's on Friday revised upwards the long-term corporate credit ratings of software majors TCS, Infosys and Wipro to 'A' from 'BBB+.'
It is best to invest long-term surplus in stocks or equity mutual funds.
That's all it takes to protect an institution -- just one person with no past and no greed for the future, says Shekhar Gupta.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
The government plans to transfer all subsidies including food, fertiliser and kerosene, potentially taking direct payments to more than $60 billion.
'SBI is already too big. Too big to fail.' 'It already is a moral hazard. What will it do with 20,000 branches that it cannot do with 14,000, especially in these days of online and mobile banking?'
Two major hydel projects being built by construction majors GVK and L&T have suffered severe damages in the floods which hit Uttarakhand last week.
'I want to assure the country that no country, no government can tolerate anybody taking the law into their hands, whether it is an individual or a group.'
Though it may be anecdotal, there are some HR people who cannot reconcile their own salary from a CTC to take home!
If India has more billionaires than before, it is because the Indian economy began to look more attractive to FIIs, notes T N Ninan.
If banks won't lend, seek a loan from fintech lenders or P2P platforms to help you get out of a debt trap.
Bandhan Bank to fund SMEs, create jobs, says FM
Every financial plan needs to be tweaked periodically.
Some banks might charge you a nominal amount of Rs 100-150 for issuing the card.
The former Bihar chief minister has seven criminal cases against him, most of them related to cheating and forgery. Vicky Nanjappa reports
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, will answer your queries.
Deepak Parekh, chairman of Housing Development Finance Corporation (HDFC), India's largest mortgage lender, says the exuberance in industry about the new government is justified but big ideas articulated by the prime minister need speedy implementation.
The Association of Mutual Funds in India (Amfi) has already taken up the matter with the market regulator and the finance ministry.
Pawan Kumar, organising secretary of the Bharatiya Mazdoor Sangh (BMS) affiliated to the Rashtriya Swayamsevak Sangh (RSS), tells Aditi Phadnis it will join forces with other trade unions if necessary to oppose the Employees' Provident Fund Organisation (EPFO) provisions in the Union Budget.
A customer wanting to buy a car would have to wait a long time for delivery.
A simple primer on how much money taxpayers can save under various sections of the Income Tax Act.
Customs and excise duty rates have been amended mainly to promote Make in India.
'It is common knowledge that cash is anonymous.' 'When demonetisation was implemented, one of the intended objectives was to put identity on the cash holdings in the economy.' 'With the return of Rs 15.28 lakh crore in the formal banking system, the almost entire cash holding of the economy now has an address.' 'It is no more anonymous,' says Arun Jaitley.
During deleveraging the income falls more than reduction in debt due to the austerity measures.
The president outlined the government's agenda in the coming financial year in his customary address to the joint sitting of both the Houses of Parliament.
Adhil Shetty, CEO, BankBazaar.com shares his thoughts on what could help make digitisation and going cashless easier in the New Year.
Go for high quality and low-to-medium-duration funds in your debt portfolio
If you are wondering what all this is about and why should your wife need an independent score then read on to find out.
Debt fund managers think the Reserve Bank governor might at best go for one rate cut in April.
Finance Minister Arun Jaitley presented the Union Budget.
Bandhan Bank is the first bank to be launched in eastern India post Independence.
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