RBI Governor Shaktikanta Das on Thursday said financial inclusion will continue to be a "policy priority" for the central bank to make the post-pandemic recovery more equitable and sustainable. The Reserve Bank of India will very soon be coming out with the first financial inclusion index, which will assess progress in terms of access, usage and quality, Das said, while speaking at the Economic Times Financial Inclusion Summit. It is the responsibility of all stakeholders to ensure that the financial ecosystem (including the digital medium) is inclusive and capable of effectively addressing risks like mis-selling, cybersecurity, data privacy and promoting trust in the financial system through appropriate financial education and awareness, he added.
Rs 7,774 crore, has been provisioned for COVID-19 Emergency Response and the rest for medium-term support, ranging from one to four years to be provided under mission-mode approach.
Reliance Retail will acquire the retail, wholesale, logistics and warehousing businesses of the Future Group. Future Group's financial and insurance businesses are not part of the deal.
The Department of Posts was one of the 11 entities to get the in-principle nod from the Reserve Bank of India in 2015 for setting up a payments bank.
'Defence funding is channelled to State-owned research organisations where scientists are merely bureaucrats holding meetings and sending out minutes of meetings and press releases, but have long ago stopped any innovative work.' 'Unless this tragedy is fixed, India's chances to create world-conquering and job-creating new industries are slim,' says Ajit Balakrishnan.
'Everyone says never waste a crisis.' 'When we went into Covid and we were in total lockdown, we were at work.' 'The planes were not flying and we wondered what to do.' 'We looked at each of our performance metrics -- what are customers complaining about, how do employees feel, how do investors feel?'
Moving from pricing control to a free market means stiff competition.
Jahnavi Mehta. Kaviya Maran. Preity Zinta.
Finance Minister Nirmala Sitharaman presented her third Budget on February 1.
Credit card payments to buy fuel at petrol pumps will from October 1 not get a 0.75 per cent discount that State-owned oil companies had introduced more than two-and-a-half years back to promote digital payments.
Almost 2,000 companies whose private provident and pension funds have invested in non-convertible debentures of IL&FS group firms are staring at the prospect of booking losses to the tune of Rs 9,000 crore or more if the interest income is added.
Inflation targeting has worked well and the government must stay with it, and the framework is going to work well in the period ahead also, former RBI Governor D Subbarao said on Thursday. He also said low inflation contributes to sustainable growth. Addressing the 'Times Network India Economic Conclave' virtually, Subbarao said the government's proposal to privatise some public sector units is not akin to selling family silver but it is a route for putting India on a sustainable growth path.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
Jaitley said banking network is expanding hugely and the health of banks reflects on the challenges for the economy.
The government plans a mega launch of the Pradhan Mantri Jan Dhan Yojana (PMJDY) by Prime Minister Narendra Modi on August 28, which is likely to see opening of one crore bank accounts on the first day itself.
Start-ups such as Max Wholesale, Jumbotail and ShopKirana are helping them place orders, maintain inventory, optimise delivery routes and make payments, all digitally.
Auto experts from CarJasoos answer all your questions related to buying, selling or maintenance of new cars.
It's a $1.5 billion industry, but how do you know that the person you are paying is really qualified to help you?
Telecom Regulatory Authority of India Chairman Rahul Khullar said insurance companies have asked for 4-6 weeks to deal with unsolicited commercial call or SMS.
'Dear Business Partner, Kindly note and inform your all customers that Digital Cashback has been revised from 0.75 per cent to 0.25 per cent with effect from August 1, 2018 across oil industry for all loyalty customers,' said the text message sent by State-owned oil companies to petrol pump operators.
While the benefits offered by the new-generation products are alluring, choose a plan that offers features you may actually need in the future
'The two-word answer is: Proper oversight,' says T N Ninan.
Had Finance Minister Sitharaman thought a little more about the middle class, disadvantaged sections, and the poor who are struggling, it would have been an inclusive Budget that would have made history, notes Ramesh Menon.
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According to the regulator, a large number of complaints relate to calls or messages received by consumers on behalf of banks, insurance companies and builders.
Sonata Software said on Monday it is evaluating plans to enter the business process outsourcing sector in the insurance space.
Read the fine print carefully because even a policy with a high sum assured may have sub-limits
Noted banker Uday Kotak said the country's financial system is currently in a Darwinian mode as only the fittest lenders are able to survive. Kotak also said that historically, whenever there has been a problem with a private sector lender, it has been merged with a state-run bank.
According to sources, the postal bank will tie up with other banks and financial companies to offer products like loans, mutual funds, and insurance policies to its customers.
IMD has decided to increasingly use cutting-edge technology such as artificial intelligence (AI) and machine learning (ML) in forecasting, both to avoid such glitches and to counter the disruption of normal seasonal patterns as a result of climate change. It has formed various internal sub-groups of senior officials and meteorologists to decide on how best to use AI and ML in predicting cyclone intensity, and in making short-range weather forecasts (those valid for up to three hours) as well as long-range forecasts.
The rising COVID-19 infections across the country are a matter of concern, but it may not impact the ongoing economic revival as one does not foresee lockdowns, Reserve Bank Governor Shaktikanta Das said on Thursday. The economic revival will continue "unabated", Das said, asserting that there is no need for a downward revision of RBI's 10.5 per cent GDP growth forecast for FY22. Speaking at Times Network's India Economic Conclave, Das said, "We have 'insurance' to protect economic revival like a fast-paced vaccination drive, greater ability among people to follow COVID protocols", and one does not see lockdowns as well.
Fraud-hit Punjab and Maharashtra Cooperative (PMC) Bank on Tuesday invited expression of interest (EoI) from potential investors for investment or equity participation in the bank for its reconstruction. Subsequent to commencement of the normal day-to-day operations, it will be open for the investors to convert the bank into a small finance bank by making an application to the RBI, the lender said.
Beware of spot offers and discounts aimed to lure you into binge buying.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Investment in market leaders with a safety-first approach could yield reasonable returns across sectors.
Tackling cyber frauds effectively will be the greatest challenge facing us all in the present century.
India's HCL Comnet, a subsidiary of HCL Technologies, has got a network management order worth Rs 31 crore (Rs 310 million) from state-run National Insurance Company, the Bombay Stock Exchange said on Friday.\n\n\n\n
New Year is around the corner and these things should be on your agenda!
The department has a network of more than 150,000 post offices across the country.
