Finance Minister Nirmala Sitharaman on Tuesday asked banks and other financial institutions to ensure that their customers must update nominees to help resolve the problem of unclaimed money in future. "I want the banking system, the financial ecosystem including the mutual funds, stock markets to keep in mind that when someone deals with his (customer's) money, the organisations will have to think about the future and ensure that customers nominate their heirs, give the name and address," Sitharaman said speaking at the Global Fintech Fest (GFF) in Mumbai. According to a report, the banking system alone has more than Rs 35,000 crore of unclaimed deposits, while the overall quantum of the unclaimed money is said to be more than Rs 1 lakh crore.
The country's largest lender SBI on Saturday reported a 9.13 per cent rise in consolidated net profit to Rs 16,099.58 crore for the September quarter, weighed down by money it had to set aside for employees' impending wage and pension revisions. On a standalone basis, the State Bank of India (SBI) had a 8.03 per cent increase in the profit after tax for the reporting quarter at Rs 14,330 crore. However, the same was down 15.13 per cent compared to Rs 16,884 crore in the June quarter.
His business successes which started with the international distribution rights for the Bollywood blockbuster movie 'Sangam' in 1964 made him one of the richest in Britain but it was the Bofors scam that made Srichand Parmanand Hinduja famous, or rather infamous, back home. SP Hinduja, as he was known, died in London on Wednesday after a prolonged illness. He was 87, a family spokesperson said. Born in a business family in Karachi, British India, he and his two younger brothers were accused of receiving payments totalling Rs 64 crore in illegal commissions to help Swedish gunmaker AB Bofors secure an Indian government contract.
Solicitor General Ranjit Kumar, appearing for the government, said this was the stand of the Culture Ministry.
Among the Sensex stocks, Larsen & Toubro rose the most by 3.96 per cent after the company announced a major project win in the Middle East. HDFC, HDFC Bank, Sun Pharma, ITC, HUL, Titan, TCS, HCL Tech, Asian Paints, Bajaj Finance, Infosys and Tata Steel were among the major gainers.
'You will really wish oh! Had I stayed in Dharavi I would have got a nice house. I can assure you that. We will make dreams come true.'
'Every type of deal that US government officials were privately indicating 'hope' to have included a few months back made it in.'
The British were in India for over 300 years but they never became Indians. The East India Company sent all its loot back to London and the British empire continued that tradition. On the contrary, the Mughals did not send a single rupee outside India. So by what right does one call them traitors, asks A Ganesh Nadar.
The country's two top telcos, Reliance Jio and Airtel, are working overnight to undertake one of the fastest global roll-outs of 5G services in any country just a month down the line. India might be late in the game (already 70 countries have some kind of 5G and there are 698 million 5G subscribers across the world), but it's moving at breakneck speed. In his speech at the Reliance Industries AGM, Mukesh Ambani unveiled his plan to roll out the fastest 5G network in the world, starting from four metros in October but hitting every town taluka and tehsil - there are some 5,600 of them - in the country in 18 months.
French IT firm Atos is planning to hire 15,000 people in the next 12-18 months in India, including climate experts, as it moves towards decarbonisation by 2028, chief operating officer (COO) Nourdine Bihmane said. "India is a strategic market for Atos. "We have been present here for the last 30 years, and we have grown organically since. "People and innovation are our two key drivers to build momentum. "India represents one-third of our total workforce," Bihmane said. Atos has around 40,000 employees in India.
United States President Joe Biden and First Lady Dr Jill Biden on Monday hosted a Diwali reception at the White House in what they called the largest since the People's House started celebrating the festival during the George Bush administration.
At the heart of the disagreement is a 1,000-acre land parcel, part of the 3,400 acres owned by the family in Vikhroli, a northeastern suburb of Mumbai.
The unfortunate associations with the name Charles for an English king -- one who was executed; the other with a very unsavoury reputation -- led royal observers to assume that Charles would not take his Christian name when he became king.
'Or because I am getting a s**tload of money.'
This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.
India has taken up the issue of high oil prices with producer nations and OPEC, demanding affordable rates, Minister of State for Petroleum and Natural Gas Rameswar Teli told the Lok Sabha on Monday. Petrol and diesel prices have shot up to record highs across the country after relentless price increases since early May. Petrol is retailing above Rs 100 a litre in more than a dozen states.
While Governor Ravi's speeches have put the local BJP supporters on the defensive in matters of religion and social justice, his add-on 'attack on the constitutional scheme' in the 'Senthil Balaji case', has been condemned squarely by many legal experts and editorial writers across the country, thus adding weight to CM Stalin's position -- at least until the courts come up with their binding views, observes N Sathiya Moorthy.
The programme has triggered a huge debate in India.
Covaxin was found to have 78 per cent efficacy against COVID-19 of any severity, 14 or more days after the second dose, and is extremely suitable for low- and middle-income countries due to easy storage requirements, said the global health body.
India on Tuesday pitched for a stake in vast oil and gas fields as well as LNG terminals in the frozen Artic of Far East Russia as it looked to import more oil from the former Soviet republic as part of a strategy to diversify its energy basket.
Experts point to the higher contribution of rural from the north for the growth reported by the region, a point endorsed by companies who've been pushing their presence aggressively there.
E-commerce giant Amazon on Thursday announced a $250 million (about Rs 1,873 crore) fund that will focus on digitising small and medium businesses, and driving innovation in the areas of agri-tech and health-tech in India. "Small and medium sized businesses are often the engine and the lifeblood of economies and I think it's true in India as well. "And we are very passionate about trying to enable acceleration of SMBs in fuelling innovation and the economy in India," Amazon Web Services CEO Andrew Jassy said.
You can have a traditional Diwali celebration with your family at these special spots.
Bhagat Singh was born on September 28, 1907 in Banga village in Lyallpur district, now Faisalabad in Pakistan Punjab.
'It is flabbergasting to think that this heavenly region has, for decades, been coveted by India's aggressive neighbours,' says Claude Arpi after a recent visit to Ladakh. 'Wanting to use the newly created infrastructure to defend the borders after the clash of 2020 with China and the resulting standoffs, the home ministry is keen to boost border tourism to show that these areas are controlled by India.'
'... To ensure that the vast Indian Ocean Region remain peaceful.'
'We failed as a country because those who should have been there to say goodbye did not show up.'
Andhra Pradesh now comes third in ease of doing business.
The key risks against a fast recovery would include long delays in business travel resumption, delays in commissioning, etc.
Blinken and Indian leaders on Wednesday will discuss a plethora of pressing issues such as the fluid situation in Afghanistan, regional security concerns, COVID-19 response and ways to boost Indo-Pacific engagement, people familiar with the agenda of talks said.
'It is only because of the Congress that we became a secular republic.' 'As we enter a period where another political force has became dominant, it will be interesting to see if this legacy of Nehru and the Congress is sustained or we are taken in a new direction,' says Aakar Patel.
Russia has been grappling with sanctions slapped by the US and its allies over Moscow's invasion of Crimea.
At a time when Manipur is burning, voices like Colonel Sapam's serve as a healing balm. 'These are voices that need to heard and their stories of peace and reconciliation must be retold -- over and over again.
Around 70 companies have received IPO clearance from markets regulator Sebi, but are waiting for election results.
There is a deep-seated sense of rejection that the new generation Tamil youth have felt for a decade and more now, observes N Sathiya Moorthy.
Physical security for women, the first step towards getting them into factories and offices, is all but absent in most Indian cities, notes Kanika Datta.
The US House of Representatives and the Senate on Tuesday passed the National Defense Authorization Act (NDAA), which included key components of Indian-American Congressman Raja Krishnamoorthi's resolution language urging the Chinese government to end its military aggression against India along the LAC.
Unlike the Germans, Britons began to face the hard truths about their colonial empire only recently.
HR Guru Mayank Rautela offers practical advice.
Attlee said Great Britain had concluded that the Indian element of the army was no longer reliable and that Netaji's Indian National Army had demonstrated that. That had shaken the foundation on which Britain's Indian empire rested, argues Lieutenant General Ashok Joshi (retd).
