The IPL uses this system for players' auction.
Finance Minister Nirmala Sitharaman on Tuesday asked banks and other financial institutions to ensure that their customers must update nominees to help resolve the problem of unclaimed money in future. "I want the banking system, the financial ecosystem including the mutual funds, stock markets to keep in mind that when someone deals with his (customer's) money, the organisations will have to think about the future and ensure that customers nominate their heirs, give the name and address," Sitharaman said speaking at the Global Fintech Fest (GFF) in Mumbai. According to a report, the banking system alone has more than Rs 35,000 crore of unclaimed deposits, while the overall quantum of the unclaimed money is said to be more than Rs 1 lakh crore.
'We will have a strong exit as our third quarter is strong.'
The resolution, moved by Chief Minister Bhupendra Patel, was passed unanimously as besides the BJP MLAs, members of the Opposition Congress as well as the Aam Aadmi Party extended their support to it.
rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
With Suresh Prabhu taking over, the Railways has initiated a number of steps to bring about efficiency with former Delhi Metro chief E Sreedharan also being roped in as part of this process.
Tech-driven skills will be in demand in the post pandemic era, alerts Sonya Hooja, COO and co-founder, Imarticus Learning.
'When I talk to my colleagues in the Railways, they say 'aadmi toh bohot hai, lekin matlab ka aadmi ek bhi nahi hai (the Railways has a bloated workforce, but doesn't have employees with have the skillsets that matter)'.'
'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
The world needs to wake up to this new dimension of war at sea and be prepared to face the 'unknown enemy' who have the advantage of attacking at their choice of location and time, cautions Commodore Venugopal Menon (retd).
'There was some intelligence that he'll be killed before the whole process -- after sessions court, high court, Supreme Court, mercy petition before the governor, the President -- was completed; they (Pakistani intelligence agencies) will somehow manage to kill him.'
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
Describing the DAD as the "guardian of defence finance", he emphasised the need to bolster the internal vigilance mechanism so that any suspicious activity can be detected and reviewed immediately.
Bird Group's executive director Ankur Bhatia died on Friday at the age of 48 following a massive cardiac arrest.
Data doesn't have to be the bane of your existence. In fact, it can be a tremendously powerful tool for managing your unite -- if you know how to sort through it and how to use it to improve performance. Recent insights into the art and science of performance measurement suggest five key steps.
vThe longest duration cyclone over the north Indian Ocean had developed over the Bay of Bengal and weakened over the Arabian Sea between November 8-23, 1977 with a life period of 14 days and six hours.
The decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
It has noted that melting glaciers due to any impact of climate change will not only severely affect the flow in Himalayan river system but will also give rise to natural disasters.
If you are serious about your future, here are some MBA programmes and short courses you can consider, advises Arun Jagannathan is co-founder and CEO, CrackVerbal.
According to the Union home ministry data, tabled in Parliament last week, 10,61,648 women above 18 years and 2,51,430 girls below that age went missing between 2019 and 2021 across the country.
Senior Indian Police Service (IPS) officer Praveen Sood took over as the new Central Bureau of Investigation (CBI) director on Thursday and he will be in the post for two years, officials said.
Indian policymakers must realise that in buying small quantities of equipment, it becomes hard to start manufacturing them in India, explains Ajai Shukla.
The hotel, Roseate House in Aerocity near the Indira Gandhi International Airport, has lodged a case at IGI Airport police station.
As the world celebrated International Day of Persons with Disabilities (PwD) on December 3, corporate India has kept up with efforts to make workplaces more inclusive and accessible. Organisations across sectors are taking initiatives such as equipping offices with practical work tools like Braille-friendly and voice-enabled lifts and screen readers. While inclusion has gained pace, only 11.3 per cent (or 3.4 million out of 30 million) Indians with disabilities have jobs.
The July-September quarter results of software companies in the engineering research and development (ER&D) segment were broadly in line with expectations, though there have been cuts in revenue growth guidance. While results were a mixed bag, and there are cautionary views on the near-term outlook, brokerages and global consulting firms highlight the strong growth trajectory for the sector. They expect this segment of the software sector to grow by 8-12 per cent going forward.
Gujarat will host the next round of G20 meetings from March 27 to April 4, during which three conclaves will be held in the state on a range of issues, where delegates from different countries will converge for participation, an official said.
'As long as businesses do not consider cyber recovery an integral part of their enterprise IT, they remain greatly vulnerable.'
The NCMC facilitates convenient travel while integrating last-mile connectivity, a must in India's extensive landscape. It enables travellers to pay for a cross-section of needs, including toll tax, retail shopping, and withdrawing money.
In the latest update on the Israel-Hamas conflict, Israeli Defence Forces Spokesperson Lieutenant Colonel Jonathan Conricus noted on Saturday that people in the Gaza Strip are listening to Israel's warning and are doing the right thing, noting that there has been a significant movement of Palestinian civilians towards the South.
Debt management is going to be a worry for the Vedanta group until FY25 at least. However, the restructuring of business divisions in Vedanta India could lead to an unlocking of values. The group structure is fairly complex. Anil Agarwal-led Vedanta Resources (VRL), which is London-listed, has a lot of debt on the balance sheet. It will have to repay $1 billion in secured bonds by January 2024 and at least another $300 million in calendar 2024.
Days after landing on the Moon, India will aim for the Sun on Saturday with its maiden solar expedition, as ISRO's trusted PSLV will carry the Aditya L1 mission on a 125-day voyage to the Sun.
The World Anti-Doping Agency (WADA) on Wednesday defended the Therapeutic Use Exemption (TUE) system after some athletes' confidential medical data was leaked by a group of Russian hackers, shedding light on potential abuse.
When the subscriber reaches superannuation or the age of 60, 60 per cent of the total corpus accumulated in NPS can be withdrawn as a lump sum.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
They all seem to forget that the Music Academy is as much an independent institution as T M Krishna is an individual musician. In drawing those red lines for the Academy management, they do not even seem to recognise that they too have crossed a red line themselves, points out N Sathiya Moorthy.
While there is no specific treatment for dengue, recovery primarily involves managing symptoms and preventing complications, says Dr Amit Sakaria.
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
The sons learned that they had been completely disinherited and that Surinder Kanwar's new wife would inherit everything.
The CBI has registered an FIR against an officer of Punjab National Bank (PNB), now suspended, for allegedly cheating the state-run lender to the tune of Rs 168.59 crore through 34 fake bank guarantees, officials said Thursday. Nearly four years after LoU (letter of undertaking) scam allegedly perpetrated by uncle-nephew duo of Mehul Choksi and Nirav Modi bled the PNB to the tune of about Rs 13,000 crore, bank official Priya Ranjan Kumar followed similar modus operandi to issue 34 fake bank guarantees without making any entries in its core banking system Finacle, according to the CBI FIR. "As per the interim investigation report dated November 27, 2022, it emerges that the fraud has been perpetrated by the bank staff in collusion with some unknown persons through illegal and unauthorized usage of the bank's systems.
rediffGURU Nidhi Gupta, a physiotherapist with 20 years of experience helps diagnose and manage chronic pain. She also prescribes exercises to deal with pain and heal faster.
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