RBI may be inclined to impose severe restrictions on lending in the coming quarters.
Every customer, on opening a Payments Bank account, will get a cashback of Rs 250 as soon they bring deposits of Rs 25,000 in their bank account. The account will have zero balance requirement and every online transaction (such as IMPS, NEFT, RTGS) will be free of charge.
Gift Nifty will provide Indian investors cues on how domestic markets could react to global events.
Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale.
'We will see a lot of investments from the private sector.' 'As long as we are not impacted by some global events, I think we will be in a strong place.'
The batch of five experts will also play a role as interpreters between India and China sides during border personnel meetings, sources said.
India has a unique window of opportunity to effectuate long-lasting structural change in its banking sector, says Riju Agrawal.
Jio Financial Services, a unit of Mukesh Ambani's Reliance Industries (RIL), got valued at Rs 1.66 trillion ($20 billion) following an hour-long special trading session conducted by stock exchanges on Thursday. Shares of RIL's unit got priced at Rs 261.85 apiece - higher than analysts' expectations of Rs 134-224 per share. The price was arrived at after calculating the difference between RIL's Wednesday (July 19) close of Rs 2,840 and Rs 2,580, the price discovered during the first-of-its-kind pre-trade session.
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At the retreat, PSBs had suggested the government cut its stake in these entities to less than 51 per cent over a period of time and empower the boards of individual banks.
The BCCI top brass deliberated on the two subjects for more than an hour in the emergent meeting of the Apex Council on Monday.
The Congress on Saturday wrote to the Election Commission seeking action against Prime Minister Narendra Modi for his 'Congress shielded terrorism for vote bank' remark and said he has crossed the 'lakshman rekha'.
Modi's BJP has promised more revdis or freebies for these assembly elections than ever before, points out N Sathiya Moorthy.
India has already become the world's fifth largest economy in the 75th year of Independence and will reach the $3.5 trillion mark by end-March, said the Economic Survey tabled in Parliament on Tuesday. In real terms, the economy is expected to grow at 7 per cent for the year ending March 2023. This follows an 8.7 per cent growth in the previous financial year.
India's solidarity with the Palestinian cause dates back to Mahatma Gandhi's time and its rising global stature and influence over all key players in West Asia make it well-placed to play a crucial role in defusing the crisis arising out of the Israel-Hamas conflict, Palestine Ambassador Adnan Abu Alhaija said on Tuesday.
The fourth finance ministerial meeting, to be held in New Delhi, will have Finance Minister P Chidambaram from the Indian side and Hyun Oh-seok, Deputy Prime Minister and minister of strategy and finance, from South Korea.
Some lenders in talks with LIC for pvt placement
"At present, our credit card base is 7.5 million," he said. Sachin Khandelwal, senior general manager for retail assets, however, declined to comment on specific details, such as the magnitude of the reduction in the bank's credit card business over the past year. The country's second-largest lender, which spearheaded the growth of retail finance in the country, has also been going slow on retail loans for the past few years.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
Here's a map that visualises the official numbers for percentage of households availing banking facilities as published by the Planning Commission of India in June 2014.
Aiming to check the menace of fake Indian currency notes, the Central Bureau of Investigation is creating a national data bank of such notes to trace their origin.
'It will send a very strong signal that it is now our time to grow.'
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
Centre mulls strategy to ensure powers given to the agencies are not misused.
In the broader market, BSE midcap and BSE smallcap indices underperformed the larger counterparts and ended flat with a negative bias.
What was the RBI doing, what was the PNB top management doing, what were the auditors doing, asks Debashis Basu.
India would be aiming to better their best-ever show when the trio of Deepak Bhoria, Mohammad Hussamudin and Nishant Dev step inside the ring in pursuit of summit berths in the men's boxing World Championships.
Microsoft has become the first global Big Tech company to join the Open Network for Digital Commerce (ONDC), an Indian government initiative for developing a first-of-its-kind open network for digital commerce. The world's second-largest technology firm intends to introduce social e-commerce via its app in the Indian market later this year. ONDC is expected to open to the public in Bengaluru over the next fortnight as it enters into the next phase of the pilot for further fine-tuning before rollouts in other cities, according to a source in the know.
Lord Jo Johnson, younger brother of former British prime minister Boris Johnson, has resigned his non-executive directorship of a UK-based investment firm linked with the now-withdrawn Adani Enterprises Follow-on Public Offer (FPO). 'The Financial Times' newspaper referenced UK Companies House records to reveal that 51-year-old Lord Johnson had been appointed as a director of London-based Elara Capital Plc in June last year and resigned on Wednesday, the day when the Adani Group announced withdrawal of the FPO. Elara, which described itself as a capital markets business raising funds for Indian corporates, was among the bookrunners on the FPO.
Brand India's societal divisions and distortions have remained as much relevant in 'liberal' America and Europe as it still is in the structurally stratified Indian society of the 21st century, observes N Sathiya Moorthy.
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Privatising public sector companies would have encountered significant opposition from their managers as well as from strong unions.
The two sides have already held seven rounds of Corps Commanders level talks to discuss the entire issue of transgressions in the Eastern Ladakh sector.
"Despite a booming economy, India's growth potential is constrained by inadequate electricity services and limited power generation and supply infrastructure... The power sector has improved in recent years, albeit in an environment where demand for electricity continues to outstrip supply," the bank said. The Bank has made three direct loans to Power Grid since 1993.
New investment projects announced in the manufacturing sector declined in the three months ended June 2023. The value of new projects was lower than in the March quarter, as well as the year-ago period, shows data from project tracker the Centre for Monitoring Indian Economy (CMIE). The new project announcements worth around Rs 85,000 crore in the manufacturing segment in June were a 48 per cent decline from the Rs 1.6 trillion in March and a 66 per cent decline from the Rs 2.5 trillion seen in June 2022.
Kotak Mahindra Bank to have a 19.9% stake in the proposed banking venture.
No word on appointment of Shagun Kapur Gogia
Does the Union government or the RBI see itself as Krishna beheading Shishupal and what will constitute the 101st or indeed the past many sins for which a Sudarshan Chakra will have to be used? More importantly, what are those sins?
Gen Pande also said that Indian troops are adequately deployed along the Line of Actual Control to deal with any situation and that guidance has been given to them to "remain firm and resolute" in their tasks.
The country's largest lender State Bank of India will get the largest sum of Rs 8,800 crore as government's capital infusion.
Modi was honoured with the 'Order of Zayed', the UAE's highest civilian award, in 2019 as a mark of appreciation for his efforts to boost bilateral ties between the two nations.
