P K Mishra, a retired IAS officer of the Gujarat cadre, is currently serving as the principal secretary to the prime minister.
From the Sensex pack, Asian Paints, UltraTech Cement, Power Grid, ICICI Bank, Reliance Industries, Hindustan Unilever, Bharat Electronics and Sun Pharma were among the major gainers. In contrast, Trent, Eternal, Axis Bank and Titan were among the laggards.
'Challenge is basically near-term growth as the outlook has turned a bit adverse.'
Make minimum payments on all debts, then use extra funds to tackle the smallest debt first.
Prime Minister Narendra Modi on Friday said it is important for India and China to work together to bring stability to the world economic order as he asserted that New Delhi is ready to advance bilateral ties from a strategic and long-term perspective based on mutual respect, mutual interest and mutual sensitivity.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Available data obscures the true stress in bank books, and the pandemic will result in balance sheet impairments and capital shortfalls at lenders, RBI Governor Shaktikanta Das said on Monday. Balance sheet impairment and capital shortfalls will be more evident once the regulatory reliefs are rolled back, Das said in the bi-annual Financial Stability Report, asking lenders to augment capital.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'While we expand into other areas, banca remains our primary channel, and we continue to be a banca-led organisation.'
In the concluding part of the series on personal financial ratios we explain the net invested assets to net worth ratio that will help you stay out of financial troubles.
Budget 2025-26 delivers a carefully calibrated strategy-stimulating demand and investment while keeping fiscal discipline intact. In an environment marked by global trade disruptions, and a softening in urban consumption, Finance Minister Nirmala Sitharaman has taken a measured approach.
Experts say the state's economy is grappling with hidden debt, rising welfare costs, and lack of transparency.
Speaking at the 'Samudra se Samruddhi' event, where he inaugurated and laid foundation stones of projects worth Rs 34,200 crore, Modi said all the problems of India have only one solution, and that is self-reliance.
When the government chooses to either ignore or use identity documents only when it suits them, it shakes people's sense of stability, notes Shyam G Menon.
Pacer Kuldeep Singh, who was bought by Punjab Kings in the players' auction, is excited by the challenge of playing for his new team in IPL 2025 later this year.
Kolkata tops the list with 617 cancellations, New Delhi stands second with 203, followed by Mumbai at 190.
Cricket has been the driving force behind change in the sporting ecosystem in India but women's participation in other sports in the country still needs more support and platforms for exposure.
Crypto assets should not be granted official currency or legal tender status, the much-awaited synthesis paper by the International Monetary Fund (IMF) and Financial Stability Board (FSB) has said ahead of the G20 leadership summit under India's presidency. However, the report has argued against a blanket ban on activities linked to crypto assets, explaining that such a move can be costly as well as technically demanding to enforce. Central banks should avoid holding crypto assets in their official reserve as they pose a risk to monetary and global financial stability, according to the synthesis paper.
A graphic on key policy decisions taken by the Reserve Bank of India in 2013.
Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale.
The finance ministry has put out a revised draft in public domain.
State-owned banks have received guidance from the government to close Jan Dhan accounts whose beneficiaries are unwilling to keep them active, amid rising instances of such accounts being misused by fraudsters as mule accounts to defraud people, people aware of the development said.
The indicator combines the impact on all major risk dimensions, said the RBI, which has carried out multiple tests before coming to this conclusion.
'This helps the consumers secure more favourable terms from CIs.'
India's banking system is stable and can withstand global shocks, but there are weak spots like decelerating growth and rising fiscal deficit which need to be addressed, said a Reserve Bank report.
The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government, according to the central bank's annual report. In actual terms, the increase was Rs 7,02,946.97 crore over Rs 63.45 lakh crore as on March 2023.
In FY24, loans given out by such firms had topped a whopping Rs 146,517 crore, up by 49 per cent year-on-year and spread over 10.19 million accounts (up 35 per cent).
Economic activity has regained momentum from late-May after the dent caused by the second wave of COVID-19, and the pandemic's impact on the overall asset quality has been less than expected, Reserve Bank Governor Shaktikanta Das said on Thursday. However, Das flagged rising data breaches and cyber-attacks as among the risks for the recovering economy, along with others like firming global commodity prices. The governor also said the second wave had a "grievous toll" on the country.
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.
Bad loans, however, continued to rise in the micro, small and medium enterprises category
Jaishankar said the UN Security Council condemned the attack and underlined the need to hold perpetrators, organisers, financiers and sponsors of the reprehensible act and bring them to justice.
Finance Minister (FM) Nirmala Sitharaman has presented a forward-looking Budget, reinforcing the government's commitment to 'Reform, Perform, and Transform'.
Sanjay Malhotra takes charge as the 26th RBI governor at a time when headline retail inflation has shot up to 6.2%.
The Indian government outlines its futuristic defence programme, Sudarshan Chakra Mission, focusing on indigenous development, predictive technologies, and targeted counter-action systems to enhance national security.
Experts say Indian Railways must grow its share in the freight market to remain financially sustainable.
From the Sensex constituents, Tata Steel, Bajaj Finance, Bharti Airtel, Adani Ports, Eternal, Bajaj Finserv, NTPC, HDFC Bank, Reliance Industries and Axis Bank were among the major gainers. In contrast, Trent, State Bank of India, Tech Mahindra, Maruti and Mahindra & Mahindra were among the laggards.
The government has proposed a new regulatory architecture for large financial institutions, by establishing "a college of supervisors" comprising representatives from various regulatory agencies.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
The Indian economy could remain less affected by global trade wars than other countries because the two engines of domestic growth - consumption and investment - are likely to face a limited impact from such headwinds, according to an article on the 'State of the Economy' in the Reserve Bank of India's (RBI's) bulletin, released on Tuesday.
Gross non-performing assets (GNPAs) of banks may rise to 9.8 per cent by March 2022 under a baseline scenario, from 7.48 per cent in March 2021, according to the Financial Stability Report (FSR) released by the Reserve Bank of India. Under a severe stress scenario, GNPA of banks may increase to 11.22 per cent, it added.
