We believe the retail banking still remains a great opportunity. It is a long-term story. The level of penetration of the retail credit in India is estimated around 10 per cent of GDP as against other Asian countries, where it is 30-40 per cent.
The two entities' combined distribution network would comprise 4,182 banking outlets and 476 ATMs across 34 states and Union territories of India, with more than 31,000 employees serving about 15 million customers across the country.
Former Indian Premier League commissioner Lalit Modi on Tuesday said he has presented his reply to the show cause notice from the Enforcement Directorate (ED), with regard to the Foreign Exchange Management Act, claiming he cannot be held responsible for any wrongdoings since he had no 'cheque signing powers' during his stint as the chief of the Twenty20 tournament.
She pocketed Rs 9.12 crore as remuneration in FY16
"If HR isn't responsive, it's critical to keep records of all interactions -- e-mails, dates and any conversations you had. If HR fails to help, escalate the matter to higher management or the internal complaints committee," says Smita Shetty Kapoor.
The meeting will be attended by all heads and EDs of public sector banks
The RBI wants to include shares and options within the variable salary of the CEOs, proposed to be capped at 200 per cent of their fixed salary; the floor for it is 50 per cent.
Investors' wealth jumped over Rs 59.75 lakh crore in the 2021-22 fiscal, helped by a largely buoyant trend in domestic stocks with benchmark index Sensex surging over 18 per cent during the period. Braving many headwinds in the latter part of the current fiscal, Sensex closed the 2021-22 financial year with a gain of 9,059.36 points or 18.29 per cent. Mirroring optimism in equities despite worries related to geopolitical tension, inflation concerns, FII selling, the market capitalisation of BSE-listed firms rallied by Rs 59,75,686.84 crore to Rs 2,64,06,501.38 crore in the entire 2021-22 fiscal.
Tesla Inc chief Elon Musk is set to acquire micro-blogging site Twitter for about $44 billion. Back home, India Inc, too, is seeing aggressive merger and acquisition (M&A) activity with PVR-Inox and HDFC-HDFC Bank announcing their mergers recently. While Axis Bank recently acquired Citi India's India retail business, reports suggest Larsen & Toubro Infotech (LTI) and Mindtree could be eyeing a merger.
Infosys has emerged as the fastest growing IT services brand following 52 per cent brand value growth since last year and 80 per cent since 2020 to $12.8 billion, earning it third spot, the brand valuation consultancy said in its latest Global 500 IT Services Ranking report. TCS and Infosys have pushed IBM to fourth spot from second. IBM's brand value now stands at $10.6 billion, a decline of 34 per cent from last year and 50 per cent since 2020.
Sesnsex ended the day flat on heavy selling pressure.
The board will have to take a decision that he cannot remain a permanent director and also have to decide to whether to amend the article of association of the exchange in this regard.
Contactless card transactions can be up to three times faster than cash payments
Contactless card transactions can be up to three times faster than cash payments
Top bankers have hailed the contributions of the outgoing Reserve Bank Governor Duvuuri Subbarao saying he did his best during a tenure that was marked by difficult times for the economy.
The stocks Radhakishan Damani enters or exits are closely watched by fund managers, says Joydeep Ghosh.
Wipro, Steel Authority of India, HDFC Bank, Mahanagar Telephone Nigam, Bharat Heavy Electricals and Reliance Commnications among companies reporting a decline in headcount in FY17.
What connects P S Jayakumar of Bank of Baroda, V Vaidyanathan of Capital First Ltd and Chandra Shekhar Ghosh of Bandhan?
As the world celebrated International Day of Persons with Disabilities (PwD) on December 3, corporate India has kept up with efforts to make workplaces more inclusive and accessible. Organisations across sectors are taking initiatives such as equipping offices with practical work tools like Braille-friendly and voice-enabled lifts and screen readers. While inclusion has gained pace, only 11.3 per cent (or 3.4 million out of 30 million) Indians with disabilities have jobs.
With more firms now offering stock options to their chief executives, the salaries of these managers are sky-rocketing.
RuPay is working on how to increase offers to customers. It is also focused on technology innovation in the card payment system.
'Credit expansion is probably the quickest way to get the economy going again.' 'Easy credit is like a shot of nitro in a race car: In timely, small, quick, doses it can give a tremendous boost but carried to extreme it can destroy the engine,' points out S Muralidharan, former managing director, BNP Paribas.
Mutual funds (MFs) are set to be net sellers of Indian equities for the first time in the past seven financial years, having sold stocks worth about Rs 1.27 trillion so far in 2020-21 (FY21), making it the highest net sales on record in a financial year. MFs had been net buyers in the previous six financial years, including purchases of over Rs 1.41 trillion in FY18, Rs 88,152 crore in FY19, and Rs 91,814 crore in FY20. The last time they offloaded Indian equities was in FY14, when they net sold stocks worth Rs 21,159 crore. In contrast, foreign portfolio investors (FPIs) have ramped up buying in FY21, purchasing more than Rs 2.6 trillion worth of shares.
Two Indians -- HDFC's Renu Sud Karnad and ICICI Venture's Renuka Ramnath -- have been named in the global list of top 25 Nonbank Women in Finance, compiled by American magazine USBanker.
Attractions range from start-up challenges to non-monetary perks; employee stock options also play a role.
Banks are not allowed to lend to developers for purchasing land parcels.
The Enforcement Directorate (ED) on Thursday said it has arrested Karvy Stock Broking Limited (KSBL) CMD C Parthasarathy and group CFO G Krishna Hari in connection with a money laundering investigation linked to alleged diversion of clients' securities of over Rs 2,873 crore. The agency produced the two-- already lodged in central jail, Bengaluru after being arrested by the police-- before a special Prevention of Money Laundering Act (PMLA) court in Hyderabad on January 20 and on January 25 it remanded them to four days of ED custody from January 27-30, it said in a statement. The ED case, filed under the criminal provisions of the PMLA, is based on multiple Telangana Police FIRs filed by the HDFC Bank, few other banks and investors alleging clients' securities were illegally diverted by Karvy Stock Broking Ltd and these were later pledged with banks and non banking financial companies (NBFCs) for loans which were later "defaulted".
Report holds Hitachi responsible for debit card data theft. When the data theft came to light, Hitachi had denied that its systems were compromised.
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
Slow credit off-take to put pressure on margins
'Start-ups that generate a majority of their income in India are likely to opt for an Indian listing.'
Raghuram Rajan's 'surgery' uncovers more bad loans
RBI is closely monitoring monsoon.
Apart from fulfilling banking services, one can access more than 100 e-commerce sites, book tickets, and even pay for small value groceries through the app. The bank is now proposing to allow other banks to use this to serve their own customers.
Select companies in infra, capital goods, private banks, auto, oil & gas, and mining could be considered by investors.
'Returns can be very variable in equity markets.' 'That is why I tell small investors don't put 100 per cent of your money in equities, even if you are young.'
Mergers and acquisitions (M&As) in India are expected to stay buoyant, seen over the last three-four years, despite a slowdown in the first seven months of the calendar year. "M&A is a lumpy business activity, and we may suddenly see large deals taking place during the next two quarters of the calendar year. "This would help maintain the streak of strong M&A activity.
The past decade saw three full cycles of markets moving up and then going into bear phases.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
NBFCs are allowed to include registration, stamp duty
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