I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
The health and family welfare ministry spent 70 per cent of its allocation till October. The ministry may need additional funds for the vaccination drive which is expected to be kicked off from January.
Recently, an Air India flyer sent a legal notice to the airline seeking damages of Rs 30 lakh for the breach of personal data of 4.5 million passengers, including her husband and herself. Air India had informed the complainant of the data leak a month earlier, after it emerged that its passenger service system provider fell prey to a cyberattack in February. However, in the absence of a data protection law, India lacks a mechanism for compensation or grievance redress of consumers in such cases, say experts. Advocate Virag Gupta, a New Delhi-based cyber law expert, explains that a legal notice is a good beginning in the Air India case, but it raises many questions. These include whether sensitive personal information has been leaked and whether the airline is responsible or not, given that a passenger service system provider was also involved.
The hotels in shopping malls, however, will not be allowed to reopen.
Weeks before shutting down operations on April 17, a logistics vendor had taken possession of a Jet aircraft--a Boeing 777--at the Amsterdam airport for non-payment of dues.
Madhya Pradesh and Maharashtra state governments had earlier approached the Railways Ministry to explore whether liquid medical oxygen tankers could be moved by the rail network, they said.
Explaining the modus operandi of the case, the FIR said HDIL promoters allegedly colluded with the bank management, to draw loans from the bank's Bhandup branch. Despite non-payment, the bank officials did not classify the loans as NPA and intentionally hid the information about the same from RBI.
This September, Sachin Bansal picked 94 per cent stake in microfinance company Chaitanya Rural Intermediation Development Services. His immediate plan is to scale up the company's operations as quickly as possible without making much investment in physical infrastructure and by leveraging technology.
Globally, the focus has moved back to India, especially in terms of telecom assets. Vodafone Idea, with some 300 million customers, continues to be attractive with shares available at a low price.
With effect from January 1, 2006, pension is calculated with reference to average emoluments.
Afcons Infrastructure, whose chartered barge had sunk in the Arabian Sea due to a cyclone this week leaving at least 51 people dead, on Friday said it will provide compensation ranging from Rs 35-75 lakh to the families of the deceased personnel.
'We feel EMI holidays should pick up now.' How travel companies are trying to win customers after demonetisation.
Ebix had signed the agreement last year to acquire Gurugram-based Yatra Online for an enterprise value of $338 million (about Rs 2,327 crore) in an all-stock deal. The deal was supposed to conclude in the October-December quarter after regulatory approvals but went through several extensions, according to regulatory filings with the US Securities and Exchange Commission.
New offerings by banks are changing the way you transact.
Be mindful that each instrument is governed by a different set of gifting rules and is also taxed differently.
Computer emergency response teams will be strengthened with ethical hackers who will respond to cyberattacks.
While five resident doctors of Hindu Rao Hospital had been sitting on a relay hunger strike since Friday, the senior doctors of the North Corporation-run facilities had gone on an indefinite strike on Tuesday. Their associations had joined hands in solidarity since Tuesday.
How much will the banks' bad assets grow in March? It could be anywhere between Rs 1.2 trillion and Rs 2 trillion, observes Tamal Bandyopadhyay.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Such service providers were given time until the end of October to follow the law of the land.
IOC ethics committee looks into Rio payment claims
The outlay for defence sector almost remained unchanged compared to what was allocated in the interim budget on February 1.
Business leaders, among others, ask govt to let go of fiscal target, seek stimulus, and direct cash transfer.
Apple Inc is commencing assembly of its iPhone 12 model in the country, a move that is expected to help the US tech giant further consolidate its position in the burgeoning smartphone market in India. Apple has partnered with third-party manufacturers like Foxconn and Wistron to make some of its phones in India. These include iPhone SE, iPhone 10R and iPhone 11.
Customs and excise duty rates have been amended mainly to promote Make in India.
Property buyers fund the project cost and the entire debt and entire equity servicing, and yet, have no locus standi in the IBC process, points out Debashis Basu.
In an interview to PTI, WhatsApp head Will Cathcart said the Facebook-owned company remains committed to privacy and security of users across India and will continue to explain to users that their messages are end-to-end encrypted.
The Jammu and Kashmir government invoked the Essential Services Maintenance Act in the state, as over 4.50 lakh employees went on a weeklong strike from Monday.
A habitual defaulter may find his/her chances of getting a loan in the future derailed.
'If your loan application gets turned down by one bank, do not apply immediately to several others.' 'This makes you appear credit hungry and possibly in some form of financial distress.' 'Multiple enquiries affect your credit score adversely,' advises Mohan Jayaraman.
Citigroup has appointed Shirish Apte and Stephen Bird as chief executive officers for the financial services entity's Asia-Pacific operations, with immediate effect.
Ways on how consumers can maximise benefits.
Do not click on any pop-ups, links in messages or notification balloons if you are off the corporate VPN, warns Niranjankumar Laxman Upadhye.
DHFL has been generating funds through various means and has exited from its subsidiary units to tide over the current financial crunch.
Experts say the focus is on preserving liquidity as there is uncertainty over the duration and impact of the 21-day nationwide lockdown imposed to check the spread of COVID-19.
In a note to customers, the country's largest lender State Bank of India said, 'Interest shall continue to accrue on the outstanding portion of the term Loan during the moratorium period'. The accrued interest will be collected by the lender in the form of additional EMIs from those borrowers who opt for the three-month moratorium.
The Reserve Bank on Monday asked all banks and financial institutions to assess the impact on their balance sheet, asset quality, liquidity, among others, in the wake of the potential threat arising out of the spread of coronavirus disease in India. Several confirmed cases have also been detected in India, which highlight the need of a co-ordinated strategy for handling the emerging situations to protect the resilience of the Indian financial system, RBI said in a notification addressed to banks, urban cooperative banks, NBFCs, payment and small finance banks.
It is suggested that you get your SIM locked with which the wallet account is mapped.
The question mark over Vodafone Idea's survival is gone after the government's telecom package, managing director and chief executive officer Ravinder Takkar said in an interaction recently. The extended moratorium for spectrum payments and adjusted gross revenue (AGR) dues has indeed ensured that Vodafone Idea survives, at least for the time being, but questions remain. Answers to those questions may determine the future of Vodafone Idea and its power to stay in a difficult telecom market in the coming years.
Dealers with turnover of Rs 2 crore and above covered; industry says threshold too low
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