It won't be easy for the banking sector to better its performance every quarter, predicts Tamal Bandyopadhyay.
Several Indian banks have alerted their customers not to download apps from any source other than official app stores. Banking customers are being targeted by a new type of mobile banking malware campaign using SOVA Android Trojan. This malware captures the credentials when users log onto their net-banking apps and access bank accounts. The new version of SOVA appears to be targeting more than 200 mobile applications, including banking apps and crypto wallets.
Nearly four decades ago, when Rakesh Jhunjhunwala was a young chartered accountant in training, he was paid a conveyance of Rs 60. Deductions would take away Rs 15 from this princely sum and he was left with Rs 45 by the time the allowance made its way to his hands. He would save as much as he could from this amount, so that he would have a small amount to spend when he met his friends on the weekend at Chicken Centre. This was an eatery popular with the young at the time, perhaps because food and drink were affordable even for those new to the workforce.
Announcing relaxations such as allowing shops selling essential commodities to reopen and government offices to resume work, Chief Minister M K Stalin on Saturday announced extension of lockdown by one week till June 14 to combat COVID-19.
The two-time MP was taking part in the Rahul Gandhi-led march in Phillaur in Jalandhar where he fainted, said senior party leader Partap Singh Bajwa, who was also marching in the yatra.
Under the scheme, customers can now make zero down payment, avail a six-month EMI holiday (only interest needs to be serviced monthly) and access up to 100 per cent on-road funding for a loan tenure of five years, Tata Motors said in a statement.
Congress MPs on Thursday met the LoK Sabha Speaker Om Birla and Rajya Sabha chairman M Venkaiah Naidu and raised the issue of alleged ill-treatment of party lawmakers, including some women, by the Delhi police during their protests in the national capital against Rahul Gandhi's questioning by the Enforcement Directorate.
Tamil Nadu-based Lakshmi Vilas Bank (LVB) with pre-independence lineage on Friday lost its identity after its merger with the Indian subsidiary of Singapore's DBS Bank. The debt-ridden 94-year old old bank's fate was sealed with Union Cabinet headed by Prime Minister Narendra Modi approving Scheme of Amalagamation on Wednesday.
At 37, Annamalai Kuppusamy, is the youngest president Tamil Nadu BJP ever had and he is the first to rise to the position in the state unit within a year of joining the party.
We'll need to wait a couple of years to see how many restructured loans turn bad and whether some banks fall victim to their obsession for growth, explains Tamal Bandyopadhyay.
A sum of Rs two crore was on Wednesday seized from the residence and other premises of a Dravida Munnetra Kazhagam candidate and his son at Karur, a senior electoral officer said.
It is a sea of men clad in veshtis with distinctive party colour border design seeking votes with a smile and folded hands for their party candidates. The town is abuzz, with electioneering at its peak, and teeming trendy cars criss-cross the busy roads and bylanes bringing in more and more leaders from elsewhere for campaign.
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
Titan, NCC, Delta Corp, Karur Vysya Bank, Aptech, and Jubilant Life Sciences are among stocks in Jhunjhunwala's portfolio that have taken a severe hit, falling more than 50 per cent during the period.
Taking to Twitter, Jothimani said, 'Today I wrote to Hon Minister for AYUSH @shripadynaik regarding the insult meted out to our Tamil Nadu doctors by the AYUSH Secy for not knowing Hindi.'
The India Meteorological Department said the deep depression over the Gulf of Mannar close to Ramanathapuram district's coast remained practically stationary for 18 hours and then weakened into a depression.
Private sector lenders have been communicating to their customers about their strong capital positions but it has not put depositors at ease.
In Tamil Nadu, Chief Minister Edappadi K Palaniswami announced new relaxations such as resumption of intra-district transportation in 25 districts after a hiatus of nearly two months. Maharashtra Chief Secretary Ajoy Mehta has issued an order notifying extension of the lockdown, an official said.
Sabare International, a Karur-based home furnishings company, has taken ICICI Bank to court over a foreign exchange derivative contract. The company has requested the Karur civil court to declare the contract void. This is the second company to have gone into a legal dispute with ICICI Bank after the Chennai-based Sundaram Multi Pap, which had alleged "mis-selling of certain foreign exchange derivative contracts for speculative purposes".
New GST rates are between 5-18% on sectoral products
The FIR was filed for alleged irregularities in construction of a bridge that collapsed during heavy rains in November in Karur district.\n
"The Reserve Bank of India... has levied an aggregate penalty of Rs 10 million (Rs 1 crore) on the bank for non-compliance of regulatory directions observed during assessment of implementation of SWIFT-related operational controls," Yes Bank said in a regulatory filing.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Congress leader Rahul Gandhi on Monday accused Prime Minister Narendra Modi is the 'person through which' prior information on India's air strikes in Balakot in Pakistan in 2019 was made available to Republic TV editor-in-chief Arnab Goswami.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
'Any person who wants to enter this service should have a single object of serving the public irrespective of hindrances.'
A bench of Justice N Kirubakaran, since retired, and Justice B Pugalendhi, in a recent order also said that in our country 'it is made to believe that Sanskrit alone is Gods' language'.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The central bank tweaked the retail inflation range to 4.8-4.9 per cent in the first half of 2018-19, and 4.7 per cent in the second half.
Banks say they themselves red-flagged the transactions to RBI. It must be noted that these transactions are not outright evidence of fraud or proof of nefarious activities.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Currently, the investor and his family's net worth in listed firms stands at Rs 8,517 crore, compared to Rs 8,388 crore as of March 31, 2020.
Executives are dusting down the musty corner offices at private banks and spearheading a quiet revolution in the way they function.
With the addition of the seven banks - South Indian Bank, Karur Vysya, State Bank of Hyderabad, State Bank of Bikaner, State Bank of Travancore, State Bank of Mysore, and Punjab and Sind Bank - the number of banks allowed to import the precious metals now stands at 30.
The Reserve Bank on Wednesday said the amalgamation of Lakshmi Vilas Bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The RBI issued the statement within hours of the Cabinet clearing the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL).
Flight services were disrupted in Karnataka while in Tamil Nadu, heavy rains battered Karur, Ariyalur, Perambalur, Thanjavur, Tiruvarur and coastal Pudukkottai and Nagapattinam districts.
Sounding a statewide alert, the Tamil Nadu police on Monday detained 96 persons and stepped up search operations across the state following the theft of 17,100 detonators used for quarrying purposes, from a private godown at Karur near Tiruchirappalli. "We are serious about the theft and are probing the matter. We have already detained 96 persons in connection with the matter," DGP K P Jain said.
30-year-old Krishnamurthy, founder, Honey Kart, quit his job as a technical programmer at Wipro, and borrowed money from friends to become a beekeeper. Today he is not only debt-free but also processes 500 kilograms of honey every month that sells for Rs 716 per kg.
The size of the Indian financial services market could touch around $340 billion in the next few years.
