Bangladesh's ousted Prime Minister Sheikh Hasina has launched a scathing attack on the interim administration, accusing Chief Adviser Muhammad Yunus of running a "fascist regime" that persecutes minorities and allows terrorists to operate freely. Hasina, who is currently in India, made the remarks in a virtual address to overseas Awami League supporters, vowing to bring Yunus and his allies to justice for alleged atrocities. Her comments come ahead of a visit by India's Foreign Secretary to Dhaka, where he is expected to raise concerns about the safety of minorities in Bangladesh.
Yunus in his 26-minute speech did not give any deadline for the tenure of his interim government but acknowledged that "everyone is interested to know when our government will leave".
The Nobel laureate filed an application before the High Court.
Share prices of Nestle India, Asian Paints, Bandhan Bank, Tata Technologies, AU Small Finance Bank and Avenue Supermarts, all a part of the BSE 500 index, have hit their respective 52-week lows on the BSE in Thursday's intra-day trade after a sharp correction in the equity markets.
The other members of the interim government will be finalised after consultations with various political parties, the press secretary added.
Moreover, the process to release those arrested between July 1 to August has started, and many have already been released, it added.
Nobel Laureate Muhammad Yunus, whose experiment of poor men's banking in Bangladesh helped establish micro-credit movement across the developing world, will address the Indian Parliament in December this year.
Chintan, an Indian NGO has been chosen for America's first Innovation Award for the Empowerment of Women and Girls.
US Secretary of State Hillary Clinton ruffled a couple of sensitive feathers while on her otherwise successful South Asian tour.
Grameen Bank managing director Muhammad Yunus has asserted that India is well positioned to tap the huge potential for growth of social business within its existing legal and regulatory framework.
Yunus, however, rejected reports that a committee was constituted for the negotiation.
Yunus will teach India Inc why and how social business is not charity but business wherein a surplus is passed on to the target group of beneficiaries in the form of lower prices, better service and greater access
Nobel peace laureate Muhammad Yunus today filed an appeal against the Bangladesh High Court verdict upholding his dismissal from the Grameen Bank, in a final bid to retain his position as head of the pioneering micro-finance agency he founded nearly three decades ago.
A total of 22,27,506 farmers have obtained loan of about Rs 10,736 crore from cooperative banks in the state.
Nobel Laureate Muhammad Yunus asked the Indian industry on Tuesday to get into micro-finance activities and the government to enable a legal framework for promotion of 'social business' in the country.
Most studies suggest that microcredit is beneficial but only to a limited extent and the reality is less attractive than the promise.
'I will be researching the successful business models that have emerged from the rapid industrialisation of India's economy and its effects within Indian society. In addition, I will be examining the entrepreneurship process within India and future opportunities for entrepreneurs in India.'
Professor Yunus is the first Sakal Person of the Year.
World Economic Forum's Global Shapers Annual Survey 2015 is one of the most geographically diverse surveys of millennials.
If struggling with dealing with queues of people asking for new notes wasn't enough, banks are now facing the challenge of storing the old notes in their strong rooms.
While rising interest rates and tighter liquidity are giving negative signals for the financial sector, increasing economic activity could mean higher business volumes for lenders. Liquidity in the banking system has moved from Rs 8 trillion surplus into a deficit of Rs 33,000 crore over the 2022 calendar year. By the end of November, bank credit had grown 17.5 per cent YoY (year-on-year).
Bangladesh is in turmoil, which is not good news for India, which shares a porous 4000 km border with it. There is a danger of fundamentalism growing there, and India has to move in to reset its ties with the new dispensation before China and Pakistan make capital out of it, alerts Ramesh Menon.
It will carry out most banking operations like accepting deposits but can't advance loans or issue credit cards.
All 'grameen dak sevaks' in rural post offices will be given handheld devices by March 2017.
Land attachment and auction is being undertaken by banks that are controlled by the RBI, Gehlot said, urging the Centre to waive farmers' loans.
The government, they said, will launch a mega drive, Viksit Bharat Sankalp Yatra, across all 2.7 lakh panchayats in the country to reach out to beneficiaries and enrol them.
'I hope that by seeing us in such huge numbers the government will get scared and agree to our demands.'
Retail investors now own a bigger slice of smallcap companies than at the start of 2023-24 (FY24), underscoring their growing conviction about investing in this red-hot space. Data from Capitaline shows mutual funds' (MFs') average holding in the National Stock Exchange Nifty Smallcap 250 rising to 9.26 per cent from 8.67 per cent during the first six months of FY24, with the number of companies with over 20 per cent MF holdings increasing from 24 to 28. In comparison, MF holdings in Nifty50 companies have gone up only marginally, from 9.67 per cent to 9.75 per cent.
ISRO has been selected for the Gandhi Peace Prize for 2014 for its contribution to the country's development through space technology and satellite-based services.
Faadu: A Love Story looks like one of those old movies with a socialist bent that glorified honest poverty and looked down upon ambition and enterprise, notes Deepa Gahlot.
The event, which was slated to have been held at Rajghat to commemorate the Buddhist monk's 60th year in exile in India, was later moved to Dharamshala in Himachal Pradesh, and will now be held at the end of the month.
Bandhan Financial Services, which was given a banking licence on Wednesday, hopes to come up with a unique business model, with a mix of doorstep and retail banking.
Elon Musk is one of the world's most successful entrepreneurs.
The poor and unbanked can take their rightful place as consumers of financial services only if the Modi government encourages different entities to advance the financial inclusion agenda, say Vikram Gandhi & Chandni Ohri.
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
Unlike the race to buy airwaves by telecom companies, airports by infrastructure companies and city gas networks by energy companies, the race to develop super apps by consumer-facing companies in India has not brushed up against any regulatory issues. Officials at the ministry of electronics and information technology and at other regulators are happy they do not have to meddle in who among the Tata group, Reliance Industries Ltd, Flipkart or Paytm will manage to build an app that sweeps in customers. Unlike separate apps a customer uses on her mobile to order groceries, buy food or airline tickets or just make payments, a super app can perform all these functions.
The Reserve Bank of India (RBI) on Monday allowed microfinance lenders to fix interest rates on loans with a rider that those should not be usurious for the borrowers. A microfinance loan is defined as a collateral-free loan given to a household having an annual income of up to Rs 300,000. Each regulated entity (RE) should put in place a board-approved policy regarding pricing of microfinance loans, said the 'Master Direction - Reserve Bank of India (Regulatory Framework for Microfinance Loans) Directions, 2022'. In the past, the central bank used to announce the rates on quarterly basis.
'The lockdown has been a great excuse to delay payments.'
If the country is to meet its jobs and income challenge, there has to be a parallel focus on jobs in the formal sector.
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