The next step for the Life Insurance Corporation of India is to approach market regulator Sebi, as the bank, which is also state-owned, is a listed entity.
Kumar said the Commission will follow the time-tested methods of consultations and consensus building in bringing about any reforms and will not shy away from tough decisions, according to an Election Commission (EC) statement.
India borrows ideas that we don't need, like the FRDI Bill, and ignores the ones we need, like rewarding whistleblowers such as the ones who want to save Bombay Mercantile Bank, says Debashis Basu.
'No commercial bank will be allowed to fail. There is nothing to worry about.'
Reserve Bank of India (RBI) deputy governor M Rajeshwar Rao on Wednesday defended the central bank's decision of not allowing industrial houses to float banks, and said more deliberations are needed before RBI changes its stance on this issue agreed back in 2001. An internal working group (IWG) of the RBI had recommended allowing industrial groups into banking, but late last month the RBI said it kept on hold the two recommendations of allowing industrial houses and large non-banks to float banks. However, RBI had accepted 21 of the 33 recommendations of the group that submitted its report a year ago.
The bank, which has suffered reverses following a massive spike in dud assets and also the dismissal of its chief executive Chanda Kochhar over governance issues, however, hinted that the worse is behind.
The early bird results for the January-March 2022 quarter (Q4FY22) hint at a slowdown in corporate sector growth in the upcoming quarters. The combined net sales of the 81 early bird companies in the Business Standard sample were up 15.1 per cent year-on-year in Q4FY22; this was less than the 15.9 per cent YoY jump reported in Q3FY22. The slowdown could be much stronger for the domestic market-focused companies, including those in the banking, finance, and insurance (BFSI) space.
Working while studying is an incredible way to build your professional network, learn hands-on experience, and understand the global working environment, suggests Ajay Sharma, president and founder, Abhinav Immigration Services.
Equity-linked savings scheme, PPF and Sukanya Samriddhi Yojana are recommended instruments.
Business failures rise when growth declines. When Indian growth slowed in the last decade, defaults increased. This is the normal working of the market economy, points out Ajay Shah.
Finance Minister Nirmala Sitharaman cut fuel subsidies while slapping additional fuel taxes on unblended transport fuels in the latest Union Budget. The former will hit the rural poor, households that secured a subsidised LPG connection under the Pradhan Mantri Ujjwala Yojana (PMUY), a programme that was partly instrumental in helping the Bharatiya Janata Party (BJP) win the 2019 general elections. The latter will pretty much hurt the entire population after it kicks in from October. That's what it looks like. Or, perhaps, it's not as it appears to be, at least on the subsidy front.
A good planner will take the role of a family doctor.
According to the report, financial assets of the Indian households are predominantly in the form of bank deposits, followed by life insurance - a pattern that got disrupted after note ban
No capital came in through the approval route, while the rest of $9,86,681 was by way of issuance of rupee denominated bonds.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
'What is critical today in India is confidence of depositors.' 'If you have these kinds of problems spreading like this, the confidence level of a lot of people in the system gets shaken.'
Couples, who plan money together, stay together and get rich together!
Don't let knotty financial issues weaken your marital bond. Heavy liabilities of one partner have the potential to sour a new relationship. So, develop a plan for how you will deal with these.
The last few months have been hard on digital wallets which had a short-lived dream run post-demonetisation.
Whether salaried or running your own business, it's about time to get your investment proofs in tax-saving instruments ready for filing your income tax returns later this year.
Consensus continues to be cautious with analysts pointing towards tougher days ahead
The best investment schemes fail if they don't offer incentives to intermediaries to push investors.
The applicant must have an operational savings bank account.
Anil Rego, CEO of RightHorizons, will answer your financial planning queries.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
Once you follow these, it is also important to deploy your savings in inflation-beating investment avenues.
Investors in LIC's insurance and other schemes are receiving a lower rate of return because LIC is subsidising incompetence at best and malfeasance at worst in institutions such as IDBI Bank and IL&FS, says Jaimini Bhagwati.
The strike call is over privatisation, mergers, and also due to write-off of corporate NPAs, criminalisation of willful default
After retirement, the pressure on finances increases in the absence of regular income. Here are a few suggestions to ensure a smooth post-retirement life
Here's how the move will affect the banks' customers.
The online world is driven by convenience, simplicity and speed.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Lenders to DHFL will meet early July to hammer out a rescue package, which will include the reworking of loan payments, fresh working capital support, roping in a financial investor, and the promoters ceding control.
Shikha Verma explains how child insurance plans can help you achieve your child's financial dreams.
'Investors with as little as Rs 1 can start investing in digital gold.'
Under the Goods and Services Tax, effective midnight of June 30, most of the financial services would attract a higher tax of 18 per cent as against 15 per cent as of now.
Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
However, in the first quarter when the country was under a lockdown, net financial savings rose to 21 per cent of gross domestic product (GDP), according to the data released in the RBI's monthly bulletin.
According to preliminary information memorandum, Air India's new owner will be asked to list the company in some time
There are options like loan against property, stocks and life insurance policies.
