Conducted by research firm IDC, the study titled 'Understanding the Indian Retail Banking Customer' says push marketing is fast becoming obsolete and the thrust should be on creating brand advocates.
SBI had a tough journey in the last 40 years.
A whopping Rs 62,476 crore has been "illegally" transferred by smartphone maker Vivo to China in order to avoid payment of taxes in India, the Enforcement Directorate said Thursday, as it claimed to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies. This money is almost half of Vivo's turnover of Rs 1,25,185 crore, it said without stating the time period of the transaction. The crackdown on the leading Chinese company came after the federal probe agency found that three Chinese nationals, all of whom "left" India during 2018-21, and one other person from that country incorporated as many as 23 companies in India in which they were also helped by a Chartered Accountant, Nitin Garg.
Post graduate colleges are aggressively tying up with banks to introduce banking courses.
Indian rupee, which earlier this week touched an all-time low, is likely to remain under pressure and may test new levels as a fallout of the US Federal Reserve indicating more interest rate hikes, experts said. The aggressive rate hikes will dampen demand and increase the possibility of a recession in the US. This could accelerate the pace of capital outflows, weaken the rupee and raise the threat of imported inflation.
Switzerland, UK, Venezuela, US and France are t
Russia is among the top buyers of Indian tea, accounting for about 18 per cent of the industry's total exports.
Continuing their massive selling spree for the ninth consecutive month, foreign investors dumped Indian shares worth Rs 50,203 crore in June -- the highest net outflow in over two years -- amid aggressive rate hike by the US Federal Reserve, elevated inflation and relatively higher valuation of domestic equities. Foreign portfolio investors (FPIs) have now pulled out around Rs 2.2 lakh crore from domestic equities in the first six months of 2022 -- the highest-ever net withdrawal by them. Before that, FPIs withdrew Rs 52,987 crore in the entire 2008, data with depositories showed.
'The Khalistanis get bulk of the money from abroad.' 'Where did Amritpal's Mercedes come from, which costs well over Rs 60 lakhs?' 'Where does his fleet of vehicles come from?' 'Local Punjabis can certainly not contribute this kind of money.'
The agency is also examining the documents seized during raids at 31 places including the residence of Delhi Deputy Chief Minister Manish Sisodia on Friday, they said.
The case relates to an international espionage racket in which Pakistan-based spies recruited agents in India for collecting sensitive and classified information regarding locations/movements of Indian naval ships and submarines, and other defence establishments.
His global experience, deep business acumen and long association with the Tata Group will prove invaluable in his new role: ICICI Bank MD and CEO Chanda Kochhar.
Chief Minister Himanta Biswa Sarma said two major terror modules were busted in the state in a "nationally coordinated operation".
India's services sector lost momentum in July as demand was curtailed by competitive pressures, elevated inflation and unfavourable weather, a monthly survey said on Wednesday. The seasonally adjusted S&P Global India Services PMI Business Activity Index fell from 59.2 in June to 55.5 in July, pointing to the slowest rate of growth in four months. For the 12th straight month, the services sector witnessed an expansion in output. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.
Dealers say foreign investors are now taking keen interest in lower-rated corporate bonds, too
DDinesh Kumar Khara is someone who cares for others's ideas and suggestions.
If he takes the people along with him (which he always does); cares for the customers (80 per cent of SBI's new customers are in the 20-40 age group); and doesn't take his eyes off technology, his job is done, says Tamal Bandyopadhyay.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
All shares held by SBI in the five associate banks will stand cancelled after merger.
Slow credit off-take to put pressure on margins
India's services sector activity witnessed a sharp upturn in August on the back of stronger gains in new business, ongoing improvements in demand conditions and job creation, a monthly survey said on Monday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from July's four-month low of 55.5 to 57.2 in August, amid a quicker upturn in business activity and the sharpest rise in employment for over 14 years. For the thirteenth straight month, the services sector witnessed an expansion in output.
Several exchanges are facing a cash crunch with committed investment not coming from venture capital funds and trading activity seeing a sharp decline, reports Rajesh Bhayani.
Stating that its ATM operations are making losses, nation's largest bank SBI has said it is all for charging customers for transactions.
Elaborating this, Swati Piramal, vice president, Assocham and director of drug major Nicholas Piramal said though big multinational pharmaceutical companies have adequate cash reserves to face the global crisis, small and medium scale research-driven pharmaceutical and biotech companies which are heavily dependent on external funds for survival, may find the going tough and this will open up acquisition opportunities for Indian companies.
'Saying that Snapdeal is not doing well is beyond premature. Suggesting that someone has won or lost is myopic.'
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
A depreciating rupee, which briefly hit 80 to the dollar on Tuesday, may boost India's exports but price-inelastic imports of crude oil and gold would mean limited relief on the trade deficit, which clocked a record $26.2 billion in June. Due to global risk aversion on the back of geo-political tensions and aggressive policy tightening by the Fed, the dollar has appreciated against most currencies, including the rupee. And, with other currencies depreciating, India's comparative advantage in this respect may be limited.
'Keeravaaniji doesn't work in isolation.' 'He responds to stories, situations and the emotional core of a film.' 'That's why his tunes are so different.' 'Unchiseled emotional masterpieces.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
India's services sector activities improved further and expanded at strongest rate in over 11 years in May, supported by a substantial pick-up in new business growth, even as input cost inflation climbed to a record high, a monthly survey said on Friday. The seasonally adjusted S&P Global India Services PMI Business Activity Index jumped to 58.9 in May, up from 57.9 in April, amid better underlying demand and strong inflows of new work. For the tenth straight month, the services sector witnessed an expansion in output.
One should appreciate the sagacity and audacity of JRD and Nani Palkhivala in founding TCS on April 1, 1968. At that time there was no Microsoft or Intel, SAP or Accenture, much less Google.
They needed a person who could build and execute their vision: A frontiersman; a problem solver and an institution builder. It was their and India's good fortune that Faqir Chand Kohli more than measured up to their requirements and indeed laid the foundation to take TCS to unimaginable heights and to the giant success that it is today. Shivanand Kanavi salutes the incomparable F C Kohli, who passed into the ages last week.
The cost of acquiring new cardholders is quite low for domestic card issuers by international standards, but net credit losses are comparatively high, a study commissioned by the Indian Cards Council (ICC) revealed.
'His biggest contribution as defence minister was to change the rules of bringing martyred soldiers' bodies home.'
The challenge for Indian software is clear. A good part of its bread and butter business - writing code and maintaining software systems - is being automated, reducing revenue streams and work for lower level employees
Banks in talks with temple trusts to push gold scheme
If you default, it will affect your credit score and your career.
In South Asia, the poverty would fall to 13.5 per cent in 2015.
The Ashokan Pillar in Kolhua, Bihar, is one of India's best maintained historical sites.
'Consolidation was part of the Indradhanush package.'
The current slowdown has lasted for over 18 months and is the longest incident of sluggishness since 2006.
ICICI Bank on Friday tied up with Europe's financial powerhouse Fortis for offering asset and wealth management, estate planning and corporate services to Non-Resident Indians worldwide.
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