The US market regulator Securities and Exchange Commission was doing what it could to stem the flow. It temporarily prohibited naked short-selling in the securities of major financial players including Freddie Mac and its sister firm Fannie Mae in July. But this didn't really help. It was only after global central banks pumped in unprecedented liquidity into global markets, that the storm was finally calmed.
Most adult Indians should have access to bank deposits, credit and remittance facilities as well as insurance and mutual fund products in the next decade, and technology will play a big role in this transformation, says Tamal Bandyopadhyay.
No attention to detail seems to have been paid while introducing such a major provision and the wide arc of people it will take in its ambit, states Harsh Roongta.
The RBI on Friday said it will give banks Rs 1 trillion through targeted long-term repo operations (TLTROs), of up to three-year maturity, to deploy in "investment-grade corporate bonds, commercial paper, and non-convertible debentures over and above the outstanding level of their investments in these bonds as of March 27, 2020."
Every financial plan needs to be tweaked periodically.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The banks also received a warning from the rating agency Care, in February 2016, after Firestar's financials deteriorated.
Making purchases on your credit card can turn out to be a better idea. Here's why.
Haryana Chief Minister Manohar Lal Khattar said protesting against the government 'will not serve any purpose'.
The Life Insurance Corporation has decided not to nominate any retired employee as a director on the board of the almost 90 companies in which it has equity or loan exposure.
If you are one of those who is now staring at your credit card bill and wondering how to go about it, here is the way out.
India's $121 billion troubled debt pile, over $100 billion of which is on the books of state-owned banks, has come under close scrutiny from prosecutors, the media and politicians
FM proposed rationalisation of various tax exemptions.
With the Reserve Bank of India's (RBI's) draft reconstruction scheme for the troubled lender suggesting a permanent write-down of these bonds outstanding as of March 5, bondholders who have invested RS 10,800 crores are up in arms, reports Hamsini Karthik.
Large urban co-operative banks may come to be solely under the provisions of the Banking Regulation Act, even as the smaller among them are to remain within the exclusive fold of the Registrar of Co-operative Societies. The upcoming changes will bring the curtains down on the vexed issue of dual control of UCBs, which has been in vogue for 54 years. The new framework will affect 1,551 UCBs in the country, which had a total business of Rs 7.36 trillion.
Top officials said asking employees other than the fund management team to mandatorily invest a fifth of their salary goes against the principle of natural justice.
Taxpayers can claim a deduction on tuition fees for a maximum of two children.
From zeroing in on the best means for stake dilution to moving beyond microfinance, Bandhan navigates a tough path. Namrata Acharya reports.
The government is drawing up a relief package for industry with steps such as relaxation of asset-classification norms by banks, thus allowing companies to delay the repayment of loans, and tax holidays for the worst-hit sectors like aviation and hospitality. But it might not be enough to stop more bankruptcies from getting filed.
LIC, ICICI Bank, PNB to have nominees on board; firm asked to sell non-core assets.
It will carry out most banking operations like accepting deposits but can't advance loans or issue credit cards.
The system envisaged under the FRDI Bill, if implemented properly, would help improve the efficiency of capital allocation without harming consumers, and without risking the stability of financial firms, says Ajay Shah.
Form Marketing Management is recruiting Sales Professionals for a local bank in the UAE.
Shiv Sena's Rajya Sabha MP Anil Desai, a confidant of Uddhav Thackeray, said the party is now looking to implement the 50:50 formula with its ally the BJP.
Suuti's merchant bankers give proposal; deal value could be Rs 2,800 crore
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
While we have our wish lists ready, it's only on February 28 that the verdict will be out. We do hope the FM plays Santa and brings some good cheer in this financial year. Meanwhile let's take a moment and list our expectations.
The Code on Social Security, 2020 gives a lot of comfort to gig firms which recognise cab drivers or food delivery executives as 'independent contractors' who directly do business with customers with the help of their digitised platforms.
Proper documentation can help take half the pain out of filing your income tax return, says Amar Pandit.
Hair and skin tips for the rains, GMAT/GRE strategies, mocktail recipes, money planning mantras and more!
The new system is expected to give emphasis on various in-built credit enhancement structures.
New one-stop shops will redefine how you transact in shares, funds, insurance and debt.
If you are wondering what all this is about and why should your wife need an independent score then read on to find out.
The government is ready to support Air India, but wants the airline to improve its performance.
Commercial banks are also expected to be soft on loan repayments and restructure the loans, if not write them off.
Are you buying a financial product that you shouldn't? Here are the questions you should ask yourself and avoid regretting later.
Industrial Development Bank of India and Life Insurance Corporation of India have forged an alliance to fund about Rs 35,000 crore (Rs 350 billion) worth of long gestation projects, including infrastructure.
If new goals have emerged, this is the time to make fresh investments.
Indian Railways has tied up funds for the next two years for its ambitious modernisation programme.
