We must stop stigmatising business failures. Particularly when startups are mushrooming all around, the financial system, backed by the RBI and the government, can explore ways of extending support to restart the journey of a failed entrepreneur by finance as well as counselling, recommends Tamal Bandyopadhyay.
The three new laws -- the Bharatiya Nyaya Sanhita, the Bharatiya Nagarik Suraksha Sanhita and the Bharatiya Sakshya Act -- will replace the colonial era Indian Penal Code, the Code of Criminal Procedure and the Indian Evidence Act of 1872.
The newly enacted laws are -- the Bharatiya Nyaya Sanhita, the Bharatiya Nagarik Suraksha Sanhita and the Bharatiya Sakshya Act
Banks shall not charge fees for transactions settled on IMPS and UPI in excess of rates charged for NEFT for transactions above Rs 1,000, the order said.
'There are deeper, underlying, forces at work and we need institutional arrangements to guard against them.'
The bad loans of public sector banks were at 4.4 per cent in March 2014 compared with 2.09 per cent in 2008-09, it said, adding, the gross NPA increased by almost four times from March 2010 (Rs 59,972 crore or Rs 599.72 billion) to March 2014 (Rs 2,04,249 crore or Rs 2,042.49 billion).
Each bottle of pickle that leaves FarmDidi, headed to a consumer, has a little kahani behind it -- it's linked to the tale of a life, the life of a simple, striving village woman who created it, and that's what gives Manjari Sharma satisfaction and happiness.
Under the proposed mechanism, the finance ministry has said banks will notify customers when someone tries to deposit money in their accounts, a government official said.
The government's target of hitting $52 billion to $58 billion in mobile phone exports in FY26 has been faltering; an Indian corporate group with financial muscle will help.
'The last year's growth is a foretaste of things to come in the retail credit market.'
'We went from zero to about 10 million users in three months. Paytm came out with the wallet play and we came out with the UPI play.'
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
The Congress on Wednesday said the Supreme Court judgment on certain matters relating to transactions by the Adani Group has proven to be 'extraordinarily generous' to Securities and Exchange Board of India (SEBI) and asserted that the party's fight against crony capitalism and its ill-effects on prices, employment and inequalities will continue.
The culture of these firms is alien to the Indian financial system. Distressed assets funds are known for their ruthless recovery ethics. Slicing and dicing a company and selling it on a piecemeal basis is their usual practice. This is something Indian banks are finding a little uncomfortable.
In the first such collaboration for India, the country's flagship payments platform, the Unified Payments Interface (UPI), and Singapore's PayNow payment system have launched a real-time cross-border payment linkage system. The linkage, which was launched by Prime Minister (PM) Narendra Modi and Singapore's PM Lee Hsien Loong on Tuesday, was kicked off by a live cross-border transaction between Reserve Bank of India Governor Shaktikanta Das and Monetary Authority of Singapore managing director Ravi Menon, using mobile phones.
The sector may be overcrowded with a fair number of large players and the entry of the Adani Group through its two key acquisitions, followed by the takeover of majority stake in Sanghi Industries via Ambuja Cements. Since every major player is in expansion mode, there could be a capacity surplus and hence, price wars.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
In a landmark overhaul of colonial-era criminal laws, the Centre on Friday introduced in the Lok Sabha three bills to replace the IPC, CrPC and the Indian Evidence Act, proposing among other things repeal of the sedition law and introducing a new provision with a wider definition of the offence.
'Malicious files can silently sit in your phone and relay data to hackers without your knowledge.'
'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.'
For the Mizo people, tribal and family identity are important. But so are jobs, farmers' access to markets, roads, and health facilities for a young population where drugs are a big affliction.
According to the Central Bureau of Investigation, Gutte is one of the directors of Gangakhed Sugar and Energy Limited.
Defining challenge in India is augmenting state capacity, says Finance Minister P Chidambaram.
Indications are that the DMK combine will win more seats than the AIADMK and BJP, but is facing a tough fight in about half a dozen from the rest, predicts N Sathiya Moorthy of the electoral contest in Tamil Nadu.
The system envisaged under the FRDI Bill, if implemented properly, would help improve the efficiency of capital allocation without harming consumers, and without risking the stability of financial firms, says Ajay Shah.
The governor's move has been welcomed by a large segment of the Indian-American community who were opposing the bill.
Anyone endangering sovereignty or integrity of India may get a maximum punishment of life imprisonment while those involved in mob lynching and rape of minor may be given the maximum punishment of death sentence.
RBI says haste in easing norms for banks harmful to economy.
Finance Minister P Chidambaram, while addressing the Carnegie Endowment for International Peace on "Recapturing India's Growth Momentum" in Washington on Thursday, said that the leading think tank need not launch an initiative to explore how India will vote in 2014, declaring that the Indian polity will vote the Congress back into power.
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
Besides low interest rates, a reduction in active Covid cases and strong high-frequency macro data have lifted the sentiment of both corporate India and the stock markets.
'Param Bir's letter alleges that Waze was being used directly by the home minister.' 'I think an enquiry by a high court judge is the need of the hour.'
While recruitment is falling, the capabilities needed to land an IT job are stiffening.
The footprints of Indian-origin corporate executives at multinationals is expanding, with Sandeep Kataria taking over the reins of footwear major Bata as its global chief executive officer. From FMCG majors to IT titans, Kataria joins the league of Indian-origin executives who have climbed the highest echelons of corporate across diverse sectors globally. From Nooyi to Pichai to Nadella, the list of such people at the helm of multi-billion dollar enterprises is long.
The proposed IFC disrupts existing regulatory structures.
Greenwashing is making misleading or false environment-friendly claims about a product. Consumers in India currently do not have any way of telling whether a claim is authentic or greenwashing. And one never hears of action against any company for making false claims of being environment-friendly.
'If India can only grow at 5%, why bother spending time on the country?' asks Akash Prakash.
The linking of biometric UID/Aadhaar number to all public services makes "We, the People of India" worse than slaves, says Gopal Krishna.
Sources said his residence and NGO offices located in south Delhi's Vasant Kunj, Adchini and Mehrauli areas are being searched under the provisions of the Prevention of Money Laundering Act (PMLA).
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