MMFS is looking at a compounded annual growth rate (CAGR) of 18 per cent in assets under management (AUM) during FY23 to FY26 on the back of the strong recovery. The company has initiated risk-mitigating initiatives, including diversification into non-vehicle loans, building digital capacity and re-classification of customer profiles into affluent and mass-affluent in semi-urban segments to better target marketing.
IBC has been revolutionary in many ways and is a formidable instrument for stress resolution. And despite the room for improvement, the overall effectiveness of IBC in the distress space is unmatched, notes Saloni Kothari.
Activist Manoj Jarange on Wednesday reiterated that he will stop drinking water from Wednesday evening if his demand for reservation to the Maratha community is not fulfilled by the Maharashtra government.
An improved showing of mutual funds (MFs) is helping the industry attract distribution talent at a brisk pace. The industry has onboarded a net of 11,600 individual distributors in the first seven months of 2023-24 (FY24) compared to just 5,555 distributors in the whole of 2022-23 (FY23), according to data from the Association of Mutual Funds in India. Like most financial products, MFs also have significant reliance on individual distributors to sell their products, even as digital platforms are gaining popularity.
Kerala Chief Minister Pinarayi Vijayan on Thursday declared the southern state as India's first fully e-governed state where an entire range of government services have been digitised so that they can be provided to the citizens promptly and transparently.
Leaders at an all-party meeting on Maratha quota chaired by Maharashtra Chief Minister Eknath Shinde on Wednesday passed a resolution asking activist Manoj Jarange to call off his indefinite fast.
Beer to be allowed in certain offices in Haryana; other states allow its sale in stores and malls.
"I wanted to preserve them. But they were destroyed. I am sorry, this should not happen. Now since 2000, we are preserving the records and their digitisation is being done," Sawant said addressing a gathering on Monday.
CJI Chandrachud said courts across the country are likely to become paperless soon.
Ashok Vaswani, a banker with more than three-and-half decades experience in building and scaling up businesses across consumer and corporate banking and payments, will be the next managing director (MD) and chief executive officer (CEO) of Kotak Mahindra Bank. Last week, the Reserve Bank of India (RBI) had given its approval to Vaswani's appointment. Vaswani is currently President of Pagaya Technologies, a US-Israeli artificial intelligence (AI) fintech firm, which he joined in June 2022.
'Interim Budget has ignited the entrepreneurial spirit.'
While lenders create a hype around the services offered on digital platforms, customers think otherwise, given that frustration due to the quality of service has only increased, over the years.
Top commanders of the Indian Army deliberated on the Russia-Ukraine war and Israel-Hamas conflict at a five-day conclave to draw relevant lessons besides focusing on ways to make the force 'future ready' in line with with emerging contours of threats and challenges.
A number of exhibitions at the Bharat Mandapam, the convention centre which will host key G20 summit meetings, will showcase India's technological prowess and innovation, and offer a multitude of unique experiences to the visitors.
Activist Manoj Jarange on Wednesday asked the Maharashtra government to make it clear whether it is ready to provide reservation to the entire Maratha community and why it needs more time in granting quota to it.
State-run bus services have been completely suspended in five Marathwada districts while curfew and Internet shut-down have been imposed in parts of Beed where the houses of political leaders were targeted by protesters.
Growing at a robust rate due to economic reforms in key sectors like digitisation and infrastructure, India has emerged as a star performer and is projected to contribute more than 16 per cent of the global growth, the International Monetary Fund said on Monday. "What we have been observing for quite some time now is that India has been growing at a very robust rate. "It's one of the star performers when it comes to real growth when you look at peer countries.
'Currently, 81 per cent of all reserved tickets are booked through e-ticketing.'
India and Saudi Arabia on Monday decided to expedite implementation of the $50 billion West Coast refinery project, and identified energy, defence, semiconductor and space as areas for intensified cooperation during talks between Prime Minister Narendra Modi and Saudi Crown Prince Mohammed Bin Salman Bin Abdulaziz Al-Saud.
Improved monsoon, solid fiscal performance, and capex push by the public and private sectors augurs well for India's macroeconomic stability and growth, the finance ministry's monthly economic review for June 2023 said. But the report said that while India's domestic fundamentals remain strong, negative cross-border spillovers and adverse global developments could act as a deterrent in achieving the high growth path this financial year. "An improved matching of aggregate supply and aggregate demand in the Indian economy underpins the progress made in the control of domestic inflation and the consequent strengthening of macroeconomic stability," the review said.
Walmart-owned fintech firm PhonePe said it has crossed 500 million lifetime registered users on its platform. With this milestone, 1 in 3 Indians are now on PhonePe. The company said it is the first Indian internet company to have reached this scale globally. This milestone has been achieved in just over 7 years since the PhonePe UPI (Unified Payments Interface) payments launched in August 2016.
There has been a growing shift in weddings happening on non-muhurat dates. Couples prefer a post wedding party/celebration to a traditional reception.
The Centre has taken a major step towards increasing efficiency in decision-making by empowering joint secretaries to report to secretaries directly, officials said on Wednesday.
'We created war rooms -- from an IT perspective and also a customer war room -- to address any challenges that come up.'
Things are looking up for engineering firms and Siemens is likely to be one of the leading beneficiaries. Apart from the generic revival in activity, which is expected to continue through the 2023-24 financial year (FY24), the Budget has a strong infrastructure thrust, which works in Siemens' favour. The company reported a standalone Ebitda (earnings before interest, tax, depreciation and amortisation) of Rs 550 crore (up 66 per cent year-on-year or YoY) in Q1FY23 (Siemens follows the October-September accounting year).
"India has become the fastest growing major economy in the world. Despite the global slowdown, we have registered excellent growth. Today, India is a bright spot in the global economy. We are seen as the engine of global growth," he said.
Debit card payments remained sluggish due to the surge in digital transactions after the pandemic, and the Unified Payments Interface (UPI) has emerged as the most popular mode of money transfer, particularly for small value transactions, according to RBI data. In July 2020, the total debit card spends stood at Rs 2.81 trillion, as compared to Rs 3.15 trillion in July 2023, reflecting a growth of 11.96 per cent. UPI spends have seen a whopping growth of 428 per cent, zooming from Rs 2.90 trillion to Rs 15.33 trillion during the same period, the data revealed.
Asserting that the world does not have much time to correct the mistakes of the last century, Prime Minister Narendra Modi on Friday announced a 'Green Credit Initiative' focused on creating carbon sinks through people's participation and also proposed to host the United Nations climate conference in 2028, or COP33, in India.
Vasundhara Raje may have had her faults but she is an unconventional and brave leader who deserves better, observes Aditi Phadnis.
Out of all the reported digital payment frauds in India, over half (55 per cent) were United Payments Interface (UPI)-related, a new report released on Tuesday revealed. Another 18 per cent are card related, 12 per cent are related to internet banking and nine per cent are from phishing calls. Most of the UPI-related frauds, however, have a low ticket size.
The Centre told the Supreme Court on Wednesday that almost every country, including India, was grappling with the problem of use of black money in elections and the electoral bonds scheme was a "conscious attempt" to eradicate the menace of "unclean money" in the poll process.
India must change approach and have better access to networks to fulfil its digitisation dream.
'You can choose who you would like as your showstopper.' 'You have the freedom to create your own background -- sun, moon and the stars, which may sometimes not be possible in a physical show.'
The real risk is that the core assumption -- that the votes for a candidate sponsored by an alliance will at least equal the sum total of its parts -- proves to be facile, observes T N Ninan.
The commanders present in Delhi gathered at the South Block in Raisina Hills area, while many others joined the deliberations virtually.
According to officials, seven employees of the Yojna Bhawan having access to the basement have been detained for questioning.
One hopes in his next term, Narendra Modi will take up the mission of inculcating respect for following rules in Indians as a mission. Therein lies the chance for India to become a developed country, asserts Colonel Anil A Athale (retd).
The Universal Immunisation Programme is one of the largest vaccination projects in the world aimed at protecting children and pregnant mothers from preventable diseases. Under it, the government provides shots for 12 vaccine-preventable diseases, such as polio, diphtheria, tetanus, measles, and hepatitis B, for free.
The equity cult has grown at a rapid pace in India in the last few years, with retail investors latching on to the stock markets like never before. At 126.6 million, the number of dematerialised (demat) accounts, where investors hold their securities in electronic form for trading purposes, are at record high levels. The growth rate, on an annualised basis, stood at 27 per cent in 2022-2023, up from barely 6 per cent a decade ago.
Home Minister Amit Shah on Friday introduced three bills in Lok Sabha to replace the Indian Penal Code, Criminal Procedure Code and the Indian Evidence Act, asserting that the proposed laws will transform the country's criminal justice system and bring the spirit to protect the rights of citizen at the centre stage.
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