'With technology advancing rapidly, the need for branches is declining.'
The jewellery industry has welcomed the government's decision to ban old Rs 500 and Rs 1,000 notes, saying gold demand will rise as people will have more faith in the precious metal than the currency notes. But the unorganised builders and secondary (resale) property market would be adversely impacted.
According to the officials, the funds to the Congress were sent by Hyderabad-based Megha Infrastructure and Engineering.
Maruti is not an online outlier, of course; other heavyweights have rolled out similar services. But as an analyst pointed out, Maruti's all-India roll-out has significant impact given that it accounts for over half of all cars sold, reports, reports Pavan Lall.
In yet another step to attract foreign money, the Reserve Bank of India (RBI) has allowed non-resident investors to acquire shares of listed Indian companies through stock exchanges under the foreign direct investment (FDI) scheme.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
Income tax officials have directed property dealers and registration authorities to prepare a list of top property deals that have taken place in the last three years.
The court on September 3 asked the SIT to submit its fresh report.
Echoing similar views, CII too said the Prime Minister has given high importance to manufacturing and investment.
Non-resident individuals (NRIs) have also been allowed to apply for the niche banking licence, provided they plan to return to India.
Richest Indian Gautam Adani's group, which has grown on acquisitions, has fairly solid fundamentals but debt-funded future acquisitions can start putting pressure on ratings, S&P Global Ratings said on Thursday. Starting out as a commodities trader in 1988, the Adani group has diversified from mines, ports and power plants into airports, data centres and defence. It recently forayed into the cement sector with a $10.5 billion acquisition of Holcim's India units and is also looking to set up an aluminium factory. Most of this expansion has been funded by debt.
The regulator has put a cap on the business a bank can get from a single insurer.
Payment banks may not be viable option to attain financial inclusion.
Earlier this year, the Union Cabinet gave the management of state-run companies the freedom to decide on divesting their subsidiaries. However, the very next day a meeting was held at the top level of the Government of India, for the presentation of proposals for more autonomy for state-run companies. Interestingly, no chiefs of any of these companies were invited. It is a problem that will stare the government in the face with the state-owned banks too, as talks have again begun for inviting strategic investments in these companies.
Every 10 per cent rise in crude oil price will shave off around 0.2 percentage point (pp) from India's GDP growth and widen the current account by 0.3 per cent, says Nomura.
On average, an account-holder among Punjab farmers availed of crop loans of around Rs 2.23 lakh in the first 11 months of 2016-17.
These directions on enhancing security of card transactions will come into effect from March 16, 2020, as per the RBI notification.
Sebi had directed some of these companies to wind up their unregistered schemes and repay investors.
'Keeravaaniji doesn't work in isolation.' 'He responds to stories, situations and the emotional core of a film.' 'That's why his tunes are so different.' 'Unchiseled emotional masterpieces.'
Learning perhaps from the Kargil debacle, Musharraf tried hard to evolve as a statesman in his dealings with India, recalls Rana Banerji, who headed the Pakistan desk at RA&W.
The payouts were 22 per cent lower than the previous year's tally of Rs 7,938 crore.
The concept of gold as an asset capable of getting anytime money is evaporating.
The ED had launched raids on Friday at multiple locations linked to Prasad's family members including that of his son and Bihar Deputy Chief Minister Tejashwi Yadav in Delhi.
India does not have a unified regulatory regime to counter Ponzi, or pyramid, schemes whose operators typically grab new deposits to meet their promise of guaranteed returns to existing savers, point out Manoj Kumar and Mayank Bhardwaj.
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.
Under Sharma Axis Bank has also taken the lead in focusing on technology, which has now become core to almost every other lender's strategy.
'The reviews have been generous and overwhelming.' 'But unfortunately, it's not shown in the numbers and technically, you would call it a flop.' 'I don't understand what to take from it... I am at a loss...'
On other days Digvijaya Singh is among staunchest critics of the Rashtriya Swayamsevak Sangh and Union Home Minister Amit Shah, but on Thursday he revealed how Shah as well as RSS workers had helped him during his `Narmada Parikrama' four years ago.
Economic Affairs Secretary Subhash Garg is the finance ministry's primary liaison with the RBI.
Shiv Sena MP Sanjay Raut routed his unaccounted money through various shell companies opened in the name of his family members and associates, his former aide and prime witness in the money laundering case linked to the redevelopment of Patra 'chawl' project told the Enforcement Directorate (ED).
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Privatising public sector companies would have encountered significant opposition from their managers as well as from strong unions.
In 2009, the UPA government, had announced a slew of measures to boost liquidity in NBFCs. These included a scheme for providing liquidity support to NBFCs having assets size of over Rs 100 crore through a SPV.
The hoarding of cash accentuated from the very start of 2020, when the coronavirus pandemic started taking hold the world over, and fear of the pandemic prodded people to remain liquid for emergency use.
The central bank can directly print money and finance the government, but it should avoid doing so unless there is absolutely no alternative, former RBI governor D Subbarao on Wednesday said while pointing out that India is 'nowhere' near such a scenario. In an interview with PTI, Subbarao suggested that to deal with the second wave of COVID-19 induced slowdown in the economy, the government can consider Covid bonds as an option to raise borrowing, not in addition to budgeted borrowing, but as a part of that.
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
The first stage of the inclusion strategy was focussed on opening bank accounts, logically seen as creating the last-mile channels for financial access.
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
'The big power struggle in faraway Europe erupted at a most critical juncture when India has been increasingly sceptical about American policies and statesmanship,' argues Ambassador M K Bhadrakumar.
Union Minister Ravi Shankar Prasad on Tuesday said foreign investments and innovations are welcome but at the same time, the government is focussed on promoting Indian innovation as well as keen on the country's safety and security. Speaking at the India Mobile Congress 2020, the IT and Telecom Minister said that IT and communications sectors have registered over 7 per cent growth and received one of the highest Foreign Direct Investment (FDI) even during the challenging time of COVID-19.
'We have not issued notices randomly.' 'We have done the risk profiling of individuals, and sent to those whose profile has not matched with their declared income.'
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