Inflation target remains 5% for January 2017.
Their return on assets and fee income could be hit as the Reserve Bank might tighten other norms.
A government report revealed that fake companies floated with fake addresses, issued fake GST invoices and generated fake e-way bills, with fake vehicle registration details without supplying any goods causing huge loss to the exchequer.
The protocol aims to "democratise" lending, reduce costs of credit, and ensure accessibility of credit to small companies and street vendors, according to Nandan Nilekani.
The official twists and turns have raised questions on the government's credibility and its ability to pull the nation out of the demonetisation quagmire. To keep up with the new rules, the government has issued an updated FAQ on demonetisation.
State-owned Indian Bank on Thursday said it has suspended an official who is accused of wrong doings by an online portal in an expose.
The Sebi, which has been mandated by the Supreme Court to facilitate refund of Rs 24,000 crore (Rs 240 billion) with 15 per cent annual interest to bondholders of two Sahara group firms after ascertaining their genuineness.
The cards should be issued strictly for use in India and transactions settled in Indian rupee.
A comprehensive look at one of the most-preferred tax-saving investment option for the salaried class
While a wallet is convenient, payments bank offers interest on deposits and ATM facility.
There is some hope for these companies, with Finance Minister Arun Jaitley saying there was a need for legislative backing for private companies that were using Aadhaar. Adding that a careful reading of the judgment is required, Jaitley said this could be "temporary".
The Home Ministry said that 'Aadhaar' is strong on ensuring unique identity, 'however, uniqueness of identity is not a necessary condition to ensure authenticity of identity or genuineness of other entries or records of Aadhaar number', sources said.
The Employees' Provident Fund Organisation and the Labour Ministry are in touch with the Prime Minister's Office for the purpose, a senior official said.
The Supreme Court on Friday dismissed a plea seeking stay on further sale of electoral bonds ahead of assembly elections.
The government has also announced a slew of measures to ease cash flow for the rural sector.
Railway passengers can book their tickets and do shopping using RuPay pre-paid debit cards.
Capital market regulator Sebi on Wednesday announced introduction of uniform forms and documents for the purpose of customer identification by different market intermediaries like stock exchanges and mutual funds, a step intended to bring uniformity to the process.
If the nominations are not in place, the heirs need to go through a lengthy process to get access to the money cautions Bindisha Sarang.
It might be a cheaper option, but lack of clarity is choking its growth
ICICI Bank, the largest private sector lender in the country, is offering an 'instant account number' if you apply for a savings deposit account through its website.
Swiss brokerage UBS joins European banking peer HSBC in shutting down its offshore derivative business
Consumers will thank the Modi government for this simple yet revolutionary move, which is long overdue, says Debashis Basu.
Under the PMGKY scheme, black money holders can deposit unaccounted cash in account which will be subject to 50 per cent tax and 4-year interest free lock-in for the remaining 25 per cent of the amount
The statutory status will provide a legal foundation to Aadhaar.
Telecom Secretary J S Deepak has resolved the toughest issues facing the sector, but his real test will be in delivering on the govt's Digital India dream
Ankit Mehra, founder and CEO, GyanDhan, an education financing marketplace, tells you how to apply for an education loan in the pandemic.
'Allocate some parts of one's surplus income towards cryptocurrencies, considering the immense growth potential of this emerging asset class.'
During the meeting with Finance Minister Nirmala Sitharaman, it was also suggested that employees' provident fund should increase its exposure in the stock market, which in turn would improve liquidity.
According to the committee, single overseas investments of more than 10 per cent in a company should be considered as Foreign Direct Investment while those less than 10 per cent should be classified as foreign portfolio investment.
To participate in an OFS, investors will have to open a trading A/C
Niranjan Upadhye, general manager, fraud risk management, Worldline India, tells you how to quickly spot a scam and save yourself from grief.
The size of the Indian financial services market could touch around $340 billion in the next few years.
Market intermediaries, who are constantly on the lookout for avenues to reduce overhead and compliance costs, have found a new tool.
'If you give your ID and password to somebody else, how can anybody blame the technology for that problem?'
Six months after a Rs 400-crore fraud was detected in its Gurgaon branch, the Reserve Bank of India (RBI) on Monday rapped Citibank for the episode.
Mukesh Ambani said, by March 2017, it will cover 90 per cent of India's population
The issue of electoral bonds has snowballed into a political flashpoint after following reports that said the Reserve Bank of India and Election Commission had reservations against them but they were overrule by the Modi government.
But mobile wallet companies say many consumers are not ready to give out their PAN
Now SEBI registered Mutual Funds would be allowed to accept subscriptions from foreign investors who meet the Know Your Client (KYC) requirements for equity schemes.
'Lifestyle, peer pressure, lure of extra pocket money and many other factors are responsible why youth are taking drugs.'
