Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market. Historical quarterly data from listed companies (excluding banks, finance and insurance, oil and gas, and power sectors) indicate an adverse correlation between corporate margins and crude oil prices.
Lenders are not enthused because, as brokers, their responsibility towards policyholders will be higher than corporate agents.
Keen to capitalise on the growing geopolitical support from African nations after the recently concluded G20 Summit, India is working with the African Union to hold the fourth India-Africa Forum Summit later this year in Kenya's Nairobi, sources said. Prime Minister Narendra Modi is expected to attend the mega meet along with as many as 50 African leaders, they added. First held in New Delhi in 2008, the India-Africa Forum Summit marked India's initial diplomatic efforts to seek a comprehensive partnership with the African bloc of nations as a whole, at a time when China had begun its own outreach.
'Sell part of your portfolio where you're making good money, especially in small caps and mid caps.' 'The money which you take home is yours. The money which is there on paper is not yours.
ICICI Bank is looking for Managers/ Assistant Managers for Branch Banking/ Operations/ Channel Sales/ Credit/ Customer Service/ Direct Sales areas be located all over India.
Over 4 mn bank accounts could be dormant, suspects tax department.
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
The decision has been taken after a preliminary inquiry conducted by the home ministry found that the NGO was carrying out activities contrary to the Foreign Contribution Regulations Act under which it has to function.
Most adult Indians should have access to bank deposits, credit and remittance facilities as well as insurance and mutual fund products in the next decade, and technology will play a big role in this transformation, says Tamal Bandyopadhyay.
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
There are plenty of shootouts and a fair amount of sex over the nine brisk episodes though the dialogue is thankfully free of profanity, observes Deepa Gahlot.
'Embedded with the divisive regime, they administer heavy doses of the opium of religion and nationalism day in and day out,' observes Mohammad Sajjad.
Finance Minister P Chidambaram said on Tuesday the inflow of foreign funds in the banking system was not disorderly and could be channelled for productive use. There was large inflow of capital mainly from export earnings, remittances, foreign direct investment, foreign institutional investments and private equity, he said.
Kotak Mahindra Bank on Monday launched its online remittance service - FundstoHome - for non-resident Indians.
A clampdown on fresh personal loans, credit cards and auto loans is taking a toll on direct selling agents hired by banks to push these products. According to estimates, banks have reduced the number of DSAs by 15-25 per cent, while marketing expenses are 35-40 per cent lower.
The Supreme Court (SC) on Monday slapped a fine of Rs 2000 ($25) and a four-month jail sentence on fugitive businessman Vijay Mallya. In addition, the former liquor baron has been asked to deposit $40 million with 8 per cent interest within a month, failing which his properties would be attached to recover the amount. The court held Mallya guilty of contempt after it was brought to its notice that he had transferred $40 million to his children in the US.
Some experts feel that Israel got so totally engrossed in countering Iran and in efforts to foil the Islamic Republic's nuclear programme that it has neglected its own backyard.
Upcoming payment banks will lift lower income groups in distant villages.
The Popular Front of India (PFI), banned recently by the government for alleged terrorist links and spreading communal hatred, has a "well-structured and organised" presence in the Gulf countries for raising and mobilising funds, the Enforcement Directorate said on Monday after a local court took cognisance of its latest charge sheet filed against three PFI office-bearers.
'I believe the modified scheme is much more beneficial and simpler.'
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.
If you have questions related to online insurance frauds, then Piyush Ranjan, chief technology officer, Coverfox Insurance, will answer your queries.
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
If military power is all it would take to finish the menace of an awful terrorist organisation like Hamas, how come five Israeli wars in Gaza since 2003 have failed to do so? asks Shekhar Gupta.
Voices from the Treasury are clamouring for lowering rates as this would boost demand.
The Garhwal region collectively has deposits worth Rs 2,100 crore and advances worth Rs 1,000 crore.
The Bharatiya Janata Party regime will have to make good on this election slogan to restore state-owned banks to health, says Rajiv Lall.
They straddle many different (non-financial) lines of business with sometimes opaque overarching governance structures.
The increasing involvement of Big Tech in the financial system could give rise to concentration risk and there are potential spillovers, which call for closer attention, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Tuesday. "...enormous amounts of consumer data is being generated and leveraged upon by a few entities (the so-called Big Tech) by virtue of their huge customer base. "Such developments raise concerns on concentration risk and potential spillovers as their level of engagement with the financial system strengthens in the years to come," Das said at the Global Fintech Fest 2022.
'We expect the new government to look into the issue of penalties imposed on technology firms involved in UID related projects.'
Unbanked customers can expect easier access to banking.
Based on repeated appeals from Choksi, who is wanted in the Rs 13,000 crore bank fraud in Punjab National Bank and is holed in Antigua and Barbuda after fleeing from India in 2018, the CCF removed his name from the Red Notice list in November 2022, the CBI said in a statement.
However, the government's draft policy on e-commerce companies has forced consumer companies to also adapt to the changes. For Dabur India, e-commerce channel continues to be a key driver of growth in urban India. The contribution of online sales to its entire portfolio is at six per cent compared to 1.5 per cent before the pandemic.
The Supreme Court Wednesday flagged the issue of possible misuse of funds received through electoral bonds by political parties for illegal purposes like terrorism and asked the Centre whether there was any 'control' over how these funds were put to use.
On Monday China said it has "effectively managed and controlled" frictions in certain border areas.
The Jan-Dhan accounts are zero balance accounts, comes with a life cover of Rs 30,000 per person, and an accidental cover of Rs 100,000. An active user of the account can also get overdraft facility of Rs 5,000 from banks.
The meeting will be attended by all heads and EDs of public sector banks
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
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