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.
While Rohit Sharma will be eager to test his ultra-aggressive batting template against the Asian giants, for Virat Kohli it is the perfect platform to return to form after enduring a tough phase in the last few years.
The World Bank has approved loans totalling $1.75 billion (about Rs 13,834.54 crore) to fund India's PM Ayushman Bharat scheme and private investment to boost the economic growth. Of the total loan, $1 billion will go towards the health sector, while the rest $750 million will be in the form of development policy loan (DPL) to fill the financing gaps through private sector investment in the economy. The World Bank Board of Executive Directors approved two complementary loans of $500 million each to support and enhance India's health sector.
All these male politicians are unlikely to risk their sinecures to speak up in support of a bunch of women wrestlers who have chosen to challenge a politician who appears to have the ruling regime in a stranglehold, points out Kanika Datta.
In a dramatic turn of events in May 2019, an Emirates aircraft en-route to Dubai was asked to stop while it was taxiing for a take off in Mumbai. The pilot was given no reason and ordered to immediately return to the parking bay. As the aircraft returned to the terminal, two passengers from the first class - Naresh Goyal and his wife Anita - were offloaded by the immigration authorities, who said the duo cannot leave the country. Goyal, founder of Jet Airways, was stunned. The man, who ruled the aviation sector for two and a half decades with an iron hand, did not expect to be offloaded in this fashion.
'Hamas is going to be prepared. There will be booby traps and tunnels; it's going to be door to door fighting.'
The Reserve Bank of India (RBI) on Friday hiked repo rate by 50 basis points to 5.90 per cent in order to control the rising inflation, keeping in line with the aggressive policies of central banks and the volatile markets prevalent across economies. RBI Governor Shaktikanta Das announced the rate hike today. In the meeting of the Monetary Policy Committee (MPC) that started on Wednesday, five of the members of the MPC voted to hike the key lending rate, repo rate, by 50-basis points (bps).
From what we've caught in a glimpse of its adrenalin-pumping promos, Jawan pays rich ode to SRK's inbuilt feminist. An army of females swarming its multi-heroines star cast screams iron fist in velvet glove in all its mainstream glory.
The Reserve Bank of India's (RBI's) decision on Wednesday to relax restrictions on banks operating in the International Financial Services Centre (IFSC) related to the repatriation of idle funds in foreign currency accounts (FCA) could give a fillip to trading in foreign stocks at the GIFT City.
The Congress on Thursday questioned the decision of State Bank of India to give $1 billion loan to Adani group for the development of Carmichael coal mine during Prime Minister Narendra Modi's just concluded visit to Australia.
The Sri Lankan government has asserted that the recently signed maritime security pacts with India will "neither result in hindrance nor threat" to the island nation's security as "misinterpreted" by several media outlets in this country.
The Indian captain described De Villiers, who was criticised for picking and choosing international assignments after announcing his retirement last year, as the "most honest and committed" person.
After securing a euro 150 million Credit line for solar energy finance from a German financial institution, State Bank of India is in talks with european Investment Bank for about euro 200 million to fund climate finance. Recently the country's largest lender obtained euro 150 million in green funding from German government-owned KFW on soft terms and a long repayment period. SBI will use funds to finance solar energy projects.
100 years of Dev Anand and 10 scenes etched in our memory!
'We have not seen too many large deals compared to last quarter.'
Meet Chhotu Sharma -- the perfect example of what happens when determination meets hard work.
Stocks of gold jewellery retailers have been able to retain their sheen in 2023 despite volatile gold prices. Kalyan Jewellers, Titan, PC Jewellers, Thangamayil Jewellery, and Tribhovandas Bhimji Zaveri (TBZ) have rallied 21-72 per cent so far since April as compared to a 13 per cent gain in the benchmark Sensex index. The rally gained steam on the back of gold's 6 per cen
While most borrowers calculate the gain they stand to make from switching to a lower interest rate, they often fail to take into account all the costs.
The bias, lack of objectivity and continuing colonial mindset are blatantly visible, External Affairs Ministry spokesperson Arindam Bagchi said at a media briefing while replying to a volley of questions on the documentary.
She said it was a strange thing for her to know that for the time being he has been disqualified from even fighting another election for eight years.
Housing sales are likely to be hit, especially in affordable and mid-income categories, following the RBI's decision to hike repo rate, according to real estate developers and consultants. However, the impact of RBI's decision to raise the benchmark lending rate by 50 basis points to 5.40 per cent is expected to be for a short term, they added. This is the third consecutive rate hike after a 40 basis points and 50 basis points increase in May and June, respectively.
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
The second quarter results of banks show that net profits for the industry increased 57 per cent annually. The private sector banks recorded a 64 per cent rise in profits, whereas the net profits of public sector banks jumped 50 per cent in this period. A significant portion of this increase can be attributed to the rise in credit costs and a decline in non-performing assets (NPAs).
The Reserve Bank of India's rate-setting panel on Wednesday started discussions to firm up the next bi-monthly monetary policy amid expectations that it might retain status quo on interest rate but change its monetary policy stance amid rising inflation on account of geopolitical developments.
With around 33 deals valued at USD 647.5 million, India has the highest investment in the fintech segment compared to China's USD 284.9 million during the quarter ended June 30, 2020, the report released by RBSA Advisors said.
Financial institutions are 300 times more vulnerable to cyberattacks than any other industry.
The Indian markets have seen a good run in the last three months with the S&P BSE Sensex rising around 7 per cent and the Nifty50 moving up 7.5 per cent. The next leg of the market rally from here on, analysts suggest, will be driven by a growth in corporate earnings over the next few quarters. That said, they do not expect material / sharp downgrades to India Inc's earnings estimates despite headwinds for the economy.
SBI's overall gross NPA as on end-December 2013 was close to Rs 68,000 crore ( Rs 680 billion) or 5.73 per cent of its gross advances.
'We will test the waters, ferret out information through our business correspondents, and only then open a branch'
The Indian regulatory framework forced Citi to hibernate -- contrary to the claim that it never sleeps!
They straddle many different (non-financial) lines of business with sometimes opaque overarching governance structures.
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The NPAs of banks stood at over Rs 3 lakh crore as on December 2014.
Inflation trajectory, domestically as also globally, is what will shape the economy, and therefore the market, over the next couple of quarters.'
The one-time restructuring of loans will help every firm and prevent cost-cutting measures such as lay-offs.
Banks enjoyed an expansion in Net Interest Margins (or NIMs) as well as in credit demand through the 2022-23 financial year (FY23). The credit expansion was because economic growth continued to recover from the Covid-19 years, and indeed, second half GDP growth surprised on the upside. The NIM expansion was because banks raised lending rates immediately (in many cases automatically due to floaters) as the Reserve Bank of India (RBI) hiked policy rates, and only started raising deposit rates late into the fiscal.
The government is set to earn an equity dividend of nearly Rs 13,800 crore from the listed public-sector banks (PSBs), all 12 of them, for FY23, up 50 per cent from Rs 9,210 crore in FY22. This will be the highest ever dividend for the government from PSBs. The 12 PSBs in our sample are paying an equity dividend of nearly Rs 21,000 crore for FY23, up 53 per cent from Rs 13,710 crore for FY22.
Highly-rated finance firms and housing finance companies are expected to benefit from the absence of Housing Development Finance Corp (HDFC) from the bond market once it merges with the HDFC Bank in early FY24. Post merger, the bond market is expected to become less crowded, which will ease fund raising conditions for other players in the field. It may perhaps also compress the spread for debt instruments floated by housing finance companies (HFCs) over 10-year government bonds, subject to demand and supply conditions.
India Inc on Friday said it is looking forward to a repo rate cut in future as cost of funds has to come down in coming times, and expects continuation of accommodative policy stance by the Reserve Bank of India (RBI). The RBI decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, as the economy faces the brunt of the second COVID-19 wave. Sanjay Aggarwal, president of PHD Chamber of Commerce and Industry, said the RBI has maintained an accommodative stance as long as necessary to revive and sustain growth on a durable basis and to mitigate impact of COVID-19, apart from an aim to keep inflation within the target.
India added three 'unicorns' per month in 2021 to nearly double the overall number of startups valued at over USD 1 billion to 51 as of end-August, a report said on Thursday. Even as, cumbersome regulations are forcing startups to leave India and settle in other countries where they enjoy better treatment, as per the Hurun India, which prepared the list. It can be noted that over the last few years, dedicated efforts have been undertaken to hone the startups ecosystem by the government through flagship initiatives like 'Startup India'.
Rajapaksa said China indicated that it would help Sri Lanka, while adding that "usually they don't like" lending out more money to cover earlier debt payments.
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