The SNJPC recommendations cover pay structure, pension and family pension and allowances besides dealing with the issue of establishing a permanent mechanism to determine subjects of service conditions of district judiciary.
Those who consider the rupee as a proxy for virility have started thumping their chests and dreaming of dethroning the dollar from its coveted position, observes Tamal Bandyopadhyay.
The Insurance Regulatory and Development Authority of India (IRDAI) is considering a proposal to make insurance frauds a parameter for calculating credit scores in an attempt to put a lid on the increase in such activity. The proposal, which is a part of the recommendations made by a working group formed by Irdai and the General Insurance Council, suggests that insurance frauds should feature when the risk profiles of individuals are evaluated and should be used to calculate their credit scores. A poor credit score can deprive a person of financial services such as loans and credit cards, and deter him from indulging in fraud.
Diageo, which had acquired Mallya's United Spirits nearly six years ago, is claiming $40 million paid to the liquor tycoon as part of an alleged breach of agreement.
They have also been accused of extending loans for criminal intent of falsification of repayment by a number of borrowers, including some entities associated with large corporate groups.
In yet another move to close the regulatory gap between banks and shadow banks, the Reserve Bank of India (RBI) has mandated exposure limits to the non-banking finance companies, in line with commercial banks. In the large exposure framework released on Tuesday, the regulator capped aggregrate exposure of NBFCs which are in the upper layer toward one entity at 20 per cent of capital base. The limit can only be extended by another 5% with board's approval. For a particular borrower group, the cap is at 25 per cent, with additional 10 per cent if exposure is towards infrastructure.
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
Throughout 2022, China turned to the PLA as an increasingly capable instrument of Statecraft, strengthening its ability to 'fight and win wars' against a 'strong enemy', points out Ajai Shukla.
The year 2021 could turn out to be India's year of IPO with the domestic unicorns through their public issues setting "domestic stock markets on fire and global investors in a frenzy", an RBI article said on Tuesday. The successful Initial Public Offerings (IPOs) by new age companies in the recent months are a reflection of bullishness about Indian technology, it said. "...growth impulse is igniting financial markets. 2021 could well turn out to be India's year of the IPO.
China's e-commerce giant Alibaba, which completed the world's largest initial public offering ever this month, has won approval from authorities in Beijing to establish a private bank as it diversify into financial services.
The criteria for allowing companies to avail of this provision will include profitability, networth, paid-up capital, and turnover.
The Anil Ambani Group's financial services arm Reliance Capital on Wednesday said it has received in-principle approval from insurance sector regulator Insurance Regulatory Development Authority for its proposed 26 per cent stake sale in Reliance Life Insurance to Japan's Nippon Life.
The reports also claim that the same beneficiary had been found to avail treatment at two hospitals at the same time.
Debutant author Upendra Namburi who took up his first summer job when he was 17 and has spent the last 16 years in the FMCG, banking and financial services talks of the highs and lows that go with writing a novel.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
14 bills were passed by the Lower House while 15 bills were passed by Rajya Sabha.
'There are unscrupulous traders who create fake invoices by showing bogus e-way bills, movement of goods.' 'Since the entities registered across different states, and kept on changing their numbers, tracing them was difficult.'
DoT though failed to implement TRAI's recommendations to levy spectrum usage charge
Mobile Number Portability (MNP) has crossed a landmark figure of 100 million with 11 per cent of the total mobile subscribers exercising this facility till date.
The RBI is of the view that it cannot carry out satisfactory due diligence for granting registration because the funding is from a jurisdiction that has been identified by FATF as having weak measures to combat money laundering and terrorist financing.
They have also raised a host of questions regarding the incident questioning the management's action and reaction in a letter signed by all of them.
Other countries with a large number of cases including Brazil, Russia, Spain and the United States of America, all have more people heading to work.
Delayed submission of employees confidential report will not be a hindrance for promotion and they will be assessed on the basis of overall record and self-assessment of the year, the Centre has said.
Agarwal's relationship with the finance ministry has been choppy, particularly after P Chidambaram.
Telecom regulator TRAI has imposed cumulative penalty of Rs 50 lakh on nine mobile operators for failing to meet quality of service benchmarks in the second quarter ended June 2013, official sources said.
In the metal pack, Tata Steel was up 3.7% while Vedanta was up 1.8% .
GST collections in March grew 13 per cent to the second highest ever at Rs 1.60 lakh crore, taking the growth rate of revenue mop-up for full 2022-23 fiscal to 22 per cent. March also saw over 91 per cent of the GST registered businesses filing returns and paying taxes - reflecting greater compliance and improving economic activity. Gross GST revenue collected in March 2023 is Rs 1,60,122 crore, of which Central GST is Rs 29,546 crore, State GST is Rs 37,314 crore, Integrated GST is Rs 82,907 crore (including Rs 42,503 crore collected on import of goods) and cess is Rs 10,355 crore, the finance ministry said in a statement.
Meet stereotype-busters in their own right,who share their experiences about glass-ceiling in India.
While Google has market capitalisation of almost $753 billion and Facebook commands one of $515 billion, it is the wealth of user data they have that one fears
It will be headed by Secretary, Department of Financial Services.
I feel it is utterly silly to disproportionately celebrate academic achievements in school and college when there is so much life and transformation by life yet to happen, states Shyam G Menon.
In yet another secretary-level change, government appointed Hasmukh Adhia, a 1981 Gujarat cadre IAS officer, as the new Financial Services Secretary replacing G S Sandhu.
'They can transition from short to long-duration funds when the yield curve normalises.'
In a dramatic turn of events in May 2019, an Emirates aircraft en-route to Dubai was asked to stop while it was taxiing for a take off in Mumbai. The pilot was given no reason and ordered to immediately return to the parking bay. As the aircraft returned to the terminal, two passengers from the first class - Naresh Goyal and his wife Anita - were offloaded by the immigration authorities, who said the duo cannot leave the country. Goyal, founder of Jet Airways, was stunned. The man, who ruled the aviation sector for two and a half decades with an iron hand, did not expect to be offloaded in this fashion.
Mumbai, which adds 37 per cent to the total direct tax mop-up, has reported tax collection of Rs 4.93 trillion so far, against the full-year target of Rs 5.35 trillion.
Companies don't have to be in the field to nudge people to return money they owe lenders.
Terry Walsh may have expressed a desire to again take up the Indian coaching job, but Hockey India on Tuesday made it clear that it doesn't require the services of the Australian any more.
The local train traffic on the Central and Western Railway routes was mostly normal though the trains were running a few minutes late, railway officials said.
Citigroup on Monday said it will repay $20 billion bailout money to the US government, a move that will ease strict government regulations on the financial services provider.
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