For the first time, the bank is recruiting the CFO from outside its experienced talent pool of top management.
Solar equipment manufacturing, however, is unlikely to pick up in India as Chinese imports are more cost-effective
There has been an exponential increase in the use of technology to validate financial numbers, with a greater reliance on electronic evidence, use of live videos where possible, data analytics, and project management software to overcome the physical limitations in verifying transactions and accounts.
In the start-up world, hitting the $1-billion mark, which accords the "Unicorn" tag, is a milestone. Enterprises typically reach the milestone only by series C or series D, or three to four funding rounds later. Zeta achieved it at the first one. On May 25, the six-year-old banking tech firm raised $250 million from Japanese conglomerate SoftBank, at a post-money valuation of $1.45 billion. "This is the first time we have raised institutional money," Zeta co-founder Bhavin Turakhia beamed on the conference call. This trajectory is uncommon in start-ups.
Leaving behind the luxe life and dapper suits of foreign banks, Puri and his team at the upstart venture shared fizz drinks, wore a footwear brand popular among the middle class, shared a rat-infested space in a yet-to-be gentrified work space to plan and execute it.
When Nitin Gadkari was president of the Bharatiya Janata Party, the party had announced it would set up a separate ministry for handlooms and handicraft. Instead of doing that, the BJP government has abolished the only institution that took into account the voice of the weavers.
'The jobs that are being created now are the delivery boy jobs which are of extremely poor quality, or contractual jobs where you hire a person on a per piece basis.'
Jai Bhim is a story of hope and despair, observes Utkarsh Mishra.
'Facilitating conversion of well-run NBFCs into banks is urgently needed.'
As Prime Minister Narendra Modi is set to deliver his third Independence Day speech on August 15, he is inviting ideas from citizens on issues he should speak on
.jpg)
Kerry said this in a newspaper article co-authored by US Commerce Secretary Penny Pritzker.
On November 12, 2021, the Reserve Bank of India (RBI) decided to ring in uniformity in asset classification and income recognition across all lending institutions. Shadow banks, or non-banking financial companies (NBFCs), like commercial banks, are to test non-performing assets (NPAs) on a daily basis and upgrade them to "standard assets" only when interest and principal arrears are settled by borrowers. This is going to create all manner of headaches for shadow banks and their clientele. Says Y S Chakravarti, managing director and chief executive officer (CEO), Shriram City Union Finance: "NPA levels will go up, especially of small borrowers.
The Union Cabinet on Wednesday approved additional funding of up to Rs 3 lakh crore at a concessional rate of 9.25 per cent through the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector hit hard by the coronavirus crisis. The ECLGS was the second-biggest component of Rs 21 lakh crore comprehensive package announced by Finance Minister Nirmala Sitharaman last week.
'There are deeper, underlying, forces at work and we need institutional arrangements to guard against them.'
However, if the rupee depreciates much, the economy in dollar terms would be that much smaller.
'The new ceiling will cover around 93 per cent of all deposit accounts, up from 90 per cent earlier,' notes Tamal Bandyopadhyay.
'When there is unlocking, there is demand revival.' 'This is going to be the main growth engine in this kind of an economic scenario.'
The interface allows you to add multiple banks and transfer money, even between payment wallets, for a fraction of existing costs
Experts say this is a good time to buy a house for self-use, points out Sanjay Kumar Singh.
'By extending its support to the LeT, China is not helping the cause of containment and eventual destruction of radicalism and terror.'
Questioning the bullet train in view of the investment needed in Indian Railways is similar to saying that India needed to invest in primary education rather than in IITs, says Shreekant Sambrani.
Beware: During the period that you avail of the moratorium, there would be no repayment of interest or principal. Thus, the outstanding will go up substantially for this period as a consequence
The volume of shares traded in the stock market had fallen 28 per cent in April. Turnover, or the value of securities changing hands, fell 12.6 per cent. This trend of falling volumes seems to have stabilised in May.
'People have been flying for years on the basis of a police clearance and an airport entry pass.' 'Then they came out with a convoluted thing -- that your police clearance must be from your place of residence.' 'Now if a pilot is sitting in Delhi but is from Timbuktoo, the papers will have to come from there.' 'So at any point, you have a certain number of pilots sitting on the ground because his AEP has expired and the papers haven't come.' Revealed: India's bizarre processes to get pilots to fly planes.
Education, jobs, health and more: Experts share their wishlist.
Take an education loan. Encourage them to freelance while studying.
SP leader Akhilesh Yadav reacted quickly to the allegation, tweeting that the red caps are a 'red alert' for the Bharatiya Janata Party itself as they will oust that party from power.
'Let me talk about young Indian startups with their hearts in the right place and how they are proving that innovations that represent 'affordable excellence' -- breaking the myth that 'affordability' and 'excellence' cannot go together -- is indeed possible!' says Dr R A Mashelkar, the eminent scientist, in this fascinating feature.
'In the last five years of UP government, the UP police were given a fair environment and the rule of law always remained supreme.' 'In these five years, nobody within BJP dared tell a police officer to act against the rule of law.'
Lenders can now review a borrower account within 30 days of default. Earlier, the banks had to start resolution within one day of default.
A group of public health experts, including doctors from All India Institute of Medical Sciences and members from the national taskforce on COVID-19, have said that mass, indiscriminate and incomplete vaccination can trigger emergence of mutant strains and recommended that there is no need to inoculate those who had documented coronavirus infection.
As education loans are given on a floating-rate basis (and not fixed), one needs to account for probable spikes in the EMI while choosing the loan tenure. Loans are available for up to 15 years, which could lower your EMI and ease your repayment burden, advises Mohan Jayaraman.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The Union cabinet on Wednesday approved the construction of National War Memorial and Museum near the famed India Gate in New Delhi.
Most of the changes have come about in the last four years and ITC is now reaping the dividends - standalone revenues from the non-cigarettes FMCG business have grown 40 per cent from FY17 to Rs 14,728.21 crore in FY21 and pre-tax profits 30 times to Rs 823.69 crore. The business accounted for 30.58 per cent of gross revenues and 4.85 per cent of pre-tax profits in FY21. "In the last four years, our margins in FMCG have gone up by 640 basis points (bps) and EBITDA margins have been moving up consistently. "We created levers that enabled a sustained growth trajectory," said ITC chairman and managing director Sanjiv Puri. Puri took charge as the chief executive officer in 2017; in 2018, he was redesignated managing director and effective May 2019, he became chairman.
Ratnakar Bank to absorb RBS' employees involved in three businesses
The Budget for 2016-17 has announced a massive rollout of ATMs and micro-ATMs.
Your nearest grocery shop might soon become a one-stop shop for depositing and withdrawing money.
Property buyers fund the project cost and the entire debt and entire equity servicing, and yet, have no locus standi in the IBC process, points out Debashis Basu.
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
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances