The United Forum of Bank Unions would be holding a one-day all-India strike on January 7 followed by a four-day strike from January 21-24.
The overall debt servicing metrics of Indian corporates are weak.
Norms governing investments by provident funds bar these from depositing funds in a commercial bank in case the NPAs of that bank exceed two per cent of net advances.
Food inflation in April stood at 6.08 per cent, while the overall WPI inflation fell to a three-year low of 4.89 per cent.
Royal Challengers Bengaluru's IPL 2024 campaign is just one-match old, but it has already exposed their biggest chink. It's fragility in bowling, and they need better returns from bowlers against a confident Punjab Kings at an unforgiving M Chinnaswamy Stadium, in Bengaluru, on Monday.
The Indian economy has recovered 'handsomely' from the pandemic-induced disruptions, former Niti Aayog vice chairman Arvind Panagariya said on Tuesday, while expressing hope that the recovery will be sustained and the growth rate of 7 to 8 per cent will be restored. Panagariya suggested that the government must now signal its intention to wind down fiscal deficit by cutting it by half-to-one percentage point in 2022-23. "The Indian economy has recovered handsomely, returning to its pre-COVID GDP... "Only private consumption is still below its pre-COVID-19 level," the eminent economist told PTI in an interview.
'As long as economic growth remains steady, creating jobs and generating stable incomes, the rise in home loans should not create problems.' 'If the growth trajectory changes course over the medium term and interest rates rise along with inflation, the expanding trend in home loans may not sustain.'
'Yes, the playing conditions still vary over time. But you're still in control of what sort of works for you on a pitch. So, you might play on a new hybrid pitch for one game.'
Penalties for non-disclosure or inaccurate disclosure of these details can be severe.
The scheme calls for banks, refineries and hallmarking centres to work together.
It's a historical tie, we will benefit from India team's visit: Pakistan tennis fraternity
Delays in returning money for disputed transactions have also come under RBI's scanner.
The war between hackers and banks over ATM security will be dynamically redefined, notes Atanu Biswas.
The payments industry is at a crossroads with the banking regulator on two pressing issues, neither of which seems headed towards an amicable solution. Depending upon which side accommodates the other, customers in India will have to choose between convenience and ironclad safety. In the end, the Reserve Bank of India (RBI), which regulates both banks and all payments services providers, will prevail. But the question is: will it do so by bending a little or by sticking to its firm stand? The two issues - one concerning payment facilitators storing customers' card details and the other about auto-renewal of payments - appear similar but aren't.
The bank chiefs have also cancelled the customary media conference after the bi-annual policies.
Foreign Portfolio Investors' (FPIs) selling spree continues as they pulled out over Rs 3,400 crore from the Indian equity markets in the first three trading sessions of November on rising interest rates and geopolitical tensions in the Middle East. This came after such investors withdrew Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
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.
Banking secot to see major changes by 2020.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
False and acrimonious debates such as Modi versus Manmohan might allow for victories that are political and partisan. But the real loser is the nation, India and Bharat, notes Arvind Subramanian, former chief economic advisor to the Modi government in its first term.
Capital adequacy and tighter regulation are just one step forward.
Of the 700-odd Indians having foreign bank accounts, not all can be deemed to be operating these illegally.
For banks, the package will limit the burden of provisioning for stressed loans. Besides, the proposed restructuring package for MSMEs with a credit of up to Rs 25 crore is expected to provide a breather to units from this sector.
Exuding confidence in sustaining the tempo of credit growth, public sector bankers said on Wednesday that consolidation in the public sector bank (PSB) space has given them a robust base to scale. The privatisation of PSBs can be done through divestment of government stake to a wider base of investors without haste. There is nothing to worry about at this point (high credit offtake) as underwriting standards and risk management are much better.
In a major relief to Indian information technology (IT) companies operating in Australia, Canberra has agreed to amend its domestic laws to stop taxing offshore income of such Indian companies, as part of the free trade deal inked. This may lead to savings up to $200 million each year for over 100 Indian IT companies operating in Australia. "The Government of Australia has agreed to amend the domestic taxation law to stop the taxation of offshore income of Indian firms providing technical services to Australia. "This will resolve the issue that the Indian government has raised about the double taxation avoidance agreement (DTAA) between the two governments for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income," said a commerce ministry official.
'There must have been some wonderful genetic disorder due to which I was attracted towards filmi songs.'
Foreign portfolio investors (FPIs) have pulled out Rs 17,696 crore from the Indian markets in December so far amid uncertainty due to a new coronavirus strain, Omicron, and expectations of faster tapering by the US Federal Reserve. According to the depositories data, FPIs took out Rs 13,470 crore from equities, Rs 4,066 crore from the debt segment and Rs 160 crore from hybrid instruments between December 1-17. In November, FPIs were net sellers to the tune of Rs 2,521 crore in Indian markets.
'They say 'a picture paints a thousand words', so seeing Rishi Sunak PM at the door of Number 10 can never be taken from us.'' 'It is a symbol that will go down in the history books.' 'It is the very embodiment of me saying to my boys, "You can be who you want to be",' notes James Salins in this must-read feature.
PSB branches will work fulltime on the 1st and 3rd Saturday.
Marking a key milestone in the Indian government's fight against black money allegedly stashed abroad, India will get this month the complete information on flats, apartments and condominiums owned by Indians in Switzerland as also on earnings made from such properties to help it look into tax liabilities associated with those assets.
Banks argued that loans of most lenders are funded primarily by retail deposits and not from the wholesale market as was the practice abroad
Without bringing sound governance and technical capabilities into the RBI's work, injecting new money sets the stage for a next wave of bad behaviour by banks, warns Ajay Shah.
India's mutual fund (MF) industry had barely any retail footprint when it completed 50 years in 2013. MFs had Rs 7 trillion in assets under management (AUM) in March 2013, of which around Rs 5 trillion was in institution-focused debt funds. By comparison, bank deposits in the country stood at Rs 67.5 trillion around the same time.
Consumer goods firms and auto companies are witnessing an upturn in rural demand, which had been lagging for most of FY24. Expectations of a bumper rabi crop harvest have helped turn the tide. The Reserve Bank of India's (RBI's) Monetary Policy Committee kept the repo rate unchanged last week, noting that as rural demand catches up, consumption is expected to support economic growth in 2024-25.
On October 31, Chaudhuri was arrested from his Delhi home by the Jaisalmer police for his alleged role in crippled Rs 200 crore Garh Rajwada hotel project in the city which was sold for Rs 25 crore to Alchemist ARC in March 2014. The project was financed by the bank in 2007.
Government announcements for the building of new roads, railways, and other capital expenditure (capex) projects may have hit an all-time low, according to numbers for the December quarter.
At least nine separatist organisations supporting terror groups have their bases in Canada and despite multiple deportation requests Ottawa has taken no action against those involved in heinous crimes, including the killing of popular Punjabi singer Sidhu Moosewala, officials in New Delhi said on Tuesday.
'The Insolvency and Bankruptcy Code is neither beneficial to banks nor helpful for the borrower.' 'Genuine people who are caught in economic stagnation will lose everything and thousands will lose jobs.'
Education finance is a complex and dynamic sector. There are too many variables -- the course, the calibre of students, the universities, and the job prospects once the course is over, notes Tamal Bandyopadhyay.
Banks, through the Indian Banks' Association, have urged RBI and credit information companies to maintain a database of wilful defaulters.
