There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
Yes Bank on Saturday reported over two-fold jump in standalone net profit at Rs 452 crore for March quarter 2023-24, primarily due to benefits on the provision front. In the year-ago quarter, the bank logged a profit of Rs 202.43 crore. The private sector lender benefitted from write-back on income tax and interest on income tax returns, but the profits were limited by its inability to comply with the mandatory priority sector lending (PSL) requirements, its management said.
'It's a debatable topic, and we will submit our comments to the RBI by June 15.'
Finance Minister P Chidambaram, who headed the Group of Ministers on CBI's autonomy, said government will give functional autonomy to it but the agency would be governed by the general rules of the executive government.
The country's largest private lender HDFC Bank on Saturday reported a 6.51 per cent decline in its consolidated net profit to Rs 16,474.85 crore in the April-June quarter compared to the previous January-March quarter. The city-headquartered lender, which merged its mortgage major parent HDFC into itself in July last year, had reported a net profit of Rs 17,622.38 crore in the March quarter. On a standalone basis, the net profit declined to Rs 16,174.75 crore in April-June 2024-25 from Rs 16,511.85 crore in January-March 2023-24.
There is going to be another battle in the Supreme Court concerning the 26/11 attack, and this time around it would be regarding the chargesheet filed by the National Investigation Agency which runs contrary to the claims made by the Mumbai Crime Branch. Vicky Nanjappa reports.
'The FSIB will conduct interviews for the SBI chairman position on May 21-22 as the tenure of the current chairman Dinesh Kumar Khara is scheduled to end by August.'
'The demand for housing is always increasing, and so is housing shortage.'
The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise.
The Central Bureau of Investigation has recommended registration of corruption case against former Haryana Chief Minister Om Parkash Chautala for alleged irregularities in selection of candidates to the state Civil Services Executive Branch in 2003-04, the Supreme Court was on Wednesday informed.
As Cyclone Dana barrels toward the coasts of Odisha, threatening to impact nearly half of the state's population, the government is racing against time to execute a massive evacuation plan aimed at relocating about 10 lakh people in several coastal districts to safety. In West Bengal, the cyclone is set to bring heavy rainfall in several southern West Bengal districts, including Kolkata, the India Meteorological Department (IMD) has said.
The government on Saturday said a committee will be formed to propose safety measures for healthcare professionals even as OPD services were hit across the country as doctors joined the 24-hour nationwide strike called by the Indian Medical Association (IMA) to protest the alleged rape and murder of a trainee medic in Kolkata.
'Probably revised guidelines will come, and then the real picture will emerge.'
Fabindia's chief executive officer and managing director, on Friday appeared before Goa police to record their statements in connection with a voyeurism case.
Every defaulter is not a wilful defaulter who has the capability of paying back and is yet not servicing the bank loan, observes Tamal Bandyopadhyay.
Alamgir Alam had distanced himself from the activities of Lal while speaking to reporters after the ED raids, pointing out that he had earlier served with other ministers of the state government too.
Purwar was chairman of SBI between 2002 and 2006. During his career at India's largest bank, Purwar held several senior positions including managing director of the State Bank of Patiala and Chief Executive Officer for Tokyo.
Thanks to a booming market, India now has more than 300 family offices, up from 45 in 2018, according to a PwC report. The number is expected to grow rapidly, with promoters establishing more businesses in Tier-II and Tier-III cities. Family businesses play a crucial role in India's booming economy, spanning manufacturing, retail, real estate, healthcare, and finance.
In mid-March this year, the finance ministry asked state-run banks to review their gold loan portfolio for the two-year period between January 1, 2022, and January 31, 2024. This business had grown at a fast clip. Reserve Bank of India (RBI) data has it that it grew 15 per cent to Rs 1 trillion in FY24. Now, in recent times, any kind of exuberance in financial services has seen the authorities swoop down - be it pushing the lines on governance or unsecured credit.
Between March 2022 and September 2023, HDFC Bank added 56,310 employees.
Maharashtra Chief Minister Eknath Shinde and Home Minister Devendra Fadnavis have directed stringent action in the case of a car accident involving a 17-year-old boy, in which two persons were killed, the Pune police chief said on Tuesday.
For over a decade, HDFC Bank consistently outperformed industry growth rates in both deposits and advances, maintaining impeccable asset quality. Amid a landscape where other banks struggled with soaring non-performing assets (NPAs), HDFC Bank thrived, eventually surpassing ICICI Bank to become the largest private sector lender in India. Its net interest margin (NIM) remained stable in the range of 4.1-4.4 per cent.
If you are looking for an average political thriller with good performances, Thalamai Seyalagam may interest you, suggests Divya Nair.
Former Indian prime minister Manmohan Singh continues to enjoy immunity in an alleged human rights violation case filed against him in a United States court even though he is no longer the head of the State, the US department of justice has said.
'We will test the waters, ferret out information through our business correspondents, and only then open a branch'
Associated Journals Ltd (AJL), which runs the National Herald newspaper, on Wednesday told the Delhi high court that the Enforcement Directorate's (ED) May 2020 provisional attachment order attaching its nine-storey building in Mumbai was 'non executable' as the agency has not identified which portions have been attached.
No word on appointment of Shagun Kapur Gogia
Democrats in the US House of Representatives are examining whether there are grounds to impeach Trump, a Republican, based on a whistleblower's account that said he asked Ukrainian President Zelenskiy in a July 25 phone call to help investigate Democratic political rival Joe Biden.
The Army is in the process of posting 108 women officers in the rank of colonel following a selection process, the government said in the Lok Sabha on Friday.
Amid concerns by certain quarters in Pakistan over the 'strings' attached to the United States aid, Washington on Friday asserted that no condition has been imposed on Pakistan for the $ 680 Defense Authorisation Bill and charged that an attempt is on to 'willfully distort' the facts.
Notwithstanding concerns raised by the Pakistan government and its powerful military, the United States on Tuesday defended the $7.5 billion aid bill, saying there is nothing in the legislation, which impinges on the sovereignty of Pakistan.
Applications are invited from unmarried male Indian citizens for Permanent Commission Officers.
The Academy of Motion Picture Arts and Sciences recently announced its membership invitations, and Indian film celebrities Ram Charan, Jr NTR, Mani Ratnam, Karan Johar, Siddharth Roy Kapur, Chandrabose and MM Keeravaani have been invited to be members.
Vice Admiral Nirmal Kumar Verma, who once commanded India's sole aircraft carrier INS Viraat, on Monday took over as the new Navy chief.
However, Israel is yet to comment on the strike that has killed the senior Hamas leader.
Mutual funds (MFs) are seeing higher growth in new systematic investment plan (SIP) accounts in rural areas (beyond 30 or B30 centres) compared to the top 30 (T30) cities. However, the average inflows from these areas remain significantly lower than those from the larger centres. Data from the Association of Mutual Funds in India reveals that investors from B30 contributed Rs 1,725 on average to MFs through SIPs, which is 70 per cent lower than the average ticket size of T30 investors at Rs 2,940.
Santu Pan, who works for Republic Bangla news channel, was arrested on February 19 on the basis of a complaint by a woman alleging that he had trespassed into her house in Sandeshkhali.
The CBI on Thursday arrested Bharat Rashtra Samithi (BRS) leader K Kavitha in connection with a corruption case linked to the alleged Delhi excise policy scam, officials said.
Delhi police sources on Sunday said a team of the crime branch in a joint operation with the Rajasthan police nabbed the duo from Chandigarh's Sector 22.
'India should not succumb to the US ploy and help their approach by over-dramatizing the importance of the 123 Agreement to the Indian public.'
