Banks are depending more heavily on the market for certificates of deposit (CDs), whose worth climbed to a record Rs 5.75 trillion in the fortnight to January 15, owing to deposit tightness in the system.
Companies would have to recognise the increase in gratuity liability arising from new labour codes in their interim financial statements and results for the period ending December 31, the Institute of Chartered Accountants of India (ICAI) has said in its FAQs on the new labour codes.
Silver and gold prices snapped a two-day rebound and declined sharply up to 10 per cent in the futures trade on Thursday amid weak trends in the international markets and a strong US dollar.
The Supreme Court has sought responses from the Centre, the CBI and others on a plea filed by a 78-year-old retired banker who was duped of Rs 23 crore after allegedly being put under "digital arrest" for nearly a month.
Silver and gold prices declined sharply in the futures trade on Friday as traders booked profits at elevated levels after a record-breaking rally, tracking a bearish sentiment in global markets and a rebound in the US dollar.
The incident took place in the morning, a senior police official from Jalandhar said over the phone.
Saikia confirmed that discussions were on regarding a possible adjustment in playing hours owing to Guwahati's early sunrise and sunset.
Enforcement agencies have highlighted risks related to money laundering and terror financing, prompting closer scrutiny of crypto platforms operating in India.
Global Rating agency Moody's on Wednesday said it was reviewing IndusInd Bank's risk management capabilities, and its leadership transition, with the private sector lender grappling with accounting lapses pertaining to its derivatives transactions. "The financial impact of the derivatives losses is quite manageable considering IndusInd Bank's strong capital.
Bajaj Finserv on Thursday said it has completed the acquisition of Allianz SE's stake in Bajaj General Insurance and Bajaj Life Insurance, worth Rs 12,190 crore and Rs 9,200 crore, respectively. Bajaj Finserv, along with Bajaj Holdings & Investment and Jamnalal Sons, acquired the foreign insurer's 23 per cent stake in the businesses, marking the largest transaction in the Indian insurance sector.
Private sector lender IDFC First Bank has lowered its savings account rates and introduced new slabs for small and medium balance categories, effective January 9, 2025, as per its website. The interest slabs and rates for higher balance accounts remain unchanged. Despite the revision, the bank continues to offer one of the highest savings account interest rates in the industry among mid-sized banks.
A national rollout will take place after the pilot test in which SBI, PNB, Axis Bank, Bank of Maharashtra, Canara Bank, Kotak Mahindra Bank, IndusInd Bank, ICICI Bank, HDFC Bank, Indian Overseas Bank and Punjab & Sind Bank are participating.
Banking sector has witnessed healthy growth in advances in the third quarter of financial year 2026 (Q3FY26) against the same period last year, as the full impact of goods and service tax (GST) rate cuts drove growth. Most of the lenders saw their credit growth outpace the deposit growth in the quarter.
IndusInd Bank has appointed a professional firm to conduct investigation for identifying the root cause of accounting discrepancies relating to its derivatives portfolio. As per an estimate, Rs 2,100 crore discrepancy in accounting may impact 2.35 per cent of the Bank's net worth.
The sales of company shares by 5 senior executives have come under scrutiny as IndusInd shares declined over 30 per cent due to losses incurred by from its derivatives exposure.
'...the only match that really counts is the one at the end. And that will be our focus. Trying to play our best game when it counts.'
IndusInd Bank on Tuesday said global rating agency Moody's has placed the bank's baseline credit assessment (BCA) under review for a possible downgrade. The rating review comes days after IndusInd Bank disclosed a Rs 2,100 crore discrepancy in accounting with an estimated impact of 2.35 per cent of the bank's net worth.
Humpy settles for bronze after coming close to World Rapid title; Erigaisi finishes third
Despite introducing a single ticket format to make purchases more accessible, organisers haven't seen a significant boost in sales, with the numbers remaining sluggish ahead of the match.
Markets regulator Sebi on Wednesday barred former CEO of IndusInd Bank, Sumant Kathpalia, and four other senior officials from accessing the securities markets in connection with an alleged insider trading in the bank's shares. In addition to the market ban, Sebi has impounded Rs 19.78 crore collectively from the five individuals, according to an interim order passed by the regulator.
External auditor PwC is likely to submit its report to IndusInd Bank's board on Friday regarding accounting discrepancies in its derivatives portfolio, sources said. As per an estimate, Rs 2,100 crore discrepancy in accounting may impact 2.35 per cent of the bank's net worth.
IndusInd Bank MD and CEO Sumant Kathpalia on Tuesday resigned with immediate effect, taking moral responsibility of accounting lapses in the derivatives portfolio, having financial implication of Rs 1,960 crore to the bank.
Chartered accountants' apex body ICAI may review the financial statements of IndusInd Bank, which is grappling with discrepancies in accounting to the tune of Rs 2,100 crore. The private sector lender, on March 10, disclosed about some discrepancies in its derivatives portfolio which could have an adverse impact of about 2.35 per cent of the bank's net worth as of December 2024 as per its internal review.
https://www.rediff.com/business/report/why-ipo-bound-oyo-seeks-to-rename-parent-firm/20250530.htm
Investors must account for currency depreciation in their financial plans and use instruments that can cushion the erosion in purchasing power.
The 23-year-old Chennai girl edged out On Yee 3-2 to become the first Indian woman to annex the IBSF World Snooker (15-red) crown.
Dr Aarti Ullal suggests simple remedies to manage your blood sugar levels.
'The aim is to have curated datasets that create cultural and historical nuances that help us make our models understand these better.'
'Engaging with Pakistan at this stage sends out a message that undermines the sentiments of the people of India who stand firmly against any compromise on national security.'
In another development, aviation safety regulator DGCA in an order on Sunday late evening extended the time by Monday 6 pm for IndiGo CEO Pieter Elbers and Chief Operating Officer and Accountable Manager Isidro Porqueras to submit reply to its show cause notice over the ongoing disruptions in the airline's operations.
The Reserve Bank of India (RBI) has approved IndusInd Bank's request to form an executive committee to discharge the duties and responsibilities of the chief executive officer (CEO) for a period of maximum three months or till a new CEO takes charge, whichever is earlier.
Purnendu Maji and Srinivas Bhogle present Rediff's Most Valuable Player Index of Asia Cup 2025.
FIDE World Cup: Arjun storms into quarterfinals of the World Cup
The exemption of individual life and health insurance premiums from the Goods and Services Tax (GST) enables the insurance industry to make products affordable and attractive, said Ajay Seth, chairman of Insurance Regulatory and Development Authority of India (Irdai) at the Business Standard BFSI Insight Summit 2025.
Seeking to qualify for the Candidates' event, India's top-rated Arjun Erigaisi walked off with an easy draw with his Chinese counterpart Wei Yi in the first game of the quarterfinals, in Panaji on Monday.
With just 16 players out of 206 participants that started the event remaining in the fray, most of the players decided against taking undue risk and decided to wait for the next game.
IndusInd Bank on Tuesday fire fought the fallout of a Rs 2,100 crore discrepancy in accounting, saying it has enough reserves and capital to cover for it, but the management's assurance failed to arrest the free fall of shares which tanked over 27 per cent on the bourses. IndusInd Bank CEO and managing director Sumant Kathpalia said that the accounting lapse was noted around September-October last year and the bank gave a preliminary update to the RBI about this last week.
Rajaneesh Gupta lists the amazing numbers that make Rohit Sharma one of the finest ODI batters of his time.
Grandmaster Arjun Erigaisi will take on an in-form Levon Aronian of Armenia, while P Harikrishna will have to tackle giant-killer Jose Eduardo Martinez Alacantara of Mexico in the pre-quarterfinals of the World Cup in Panaji, Goa.
Bajaj Finserv - the holding company of Bajaj group's financial services business - has laid out plans for the next five years. During this period, it is eyeing 18-22 per cent compound annual growth rate (CAGR) in net profit at Rs 21,000-24,000 crore on a consolidated basis.
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