HSBC maintained "overweight" rating on Indian equities, saying "fundamentals are strong".
President Pranab Mukherjee addressed a joint session of Parliament ahead of the budget session which began on Tuesday. Here are the highlights of President Pranab Mukherjee's speech:
Pulbic banks have no reason to cheer Budget announcement.
Customers have other options available to them to do low-value transactions, if wallets start mandating full KYC and would switch to those.
Vijay Mallya, who faces prosecution in India, is reportedly in London.
The finance minister said easy access and efficiency in providing banking services will help in revival of businesses which are restarting operations after the lockdown.
Ahead of his government's first full year budget, Prime Minister Narendra Modi on Friday sought ideas from economists to attract investments, create jobs and finance infrastructure to put India back on high growth path.
False and acrimonious debates such as Modi versus Manmohan might allow for victories that are political and partisan. But the real loser is the nation, India and Bharat, notes Arvind Subramanian, former chief economic advisor to the Modi government in its first term.
Migrant workers play a very vital role in building the nation and their rights cannot be ignored at all, the Supreme Court said on Thursday while asking the Centre to devise a mechanism so that they receive food grains without ration cards.
NPCI has launched several consumer friendly systems including one that allows users to transfer money to people over mobile phones across India.
He said digitisation was aimed at bringing in accountability and added that more cash would bring with it social evils.
PM has asked the Reserve Bank to prepare a 20-year road map for financial inclusion
'Genuine mistakes can and must be forgiven,' argues Vivek Gumaste.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Banks now ride on what is defined as a "banking outlet". This is a fixed-point service unit, manned by either the bank's staff or its business correspondent (BC), where all kinds of services - acceptance of deposits, encashment of cheques, cash withdrawal or lending of money - are provided for a minimum of four hours per day, for at least five days a week. Banks are now turning to reposition the manner in which they acquire customers, report Abhijit Lele and Raghu Mohan.
The government has opted for the RuPay debit card over the Aadhaar-based platform for "last-mile" authentication in its Pradhan Mantri Jan Dhan Yojana.
Your promise to protect bankers for their commercial decisions is a huge confidence booster, but how does one define a commercial decision? Are our investigative agencies well equipped to dissect lending decisions of bankers?
80-85 per cent of about 700 major infrastructure projects within the Centre's domain have been delayed.
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'India is doing better than when we took office 17 months ago'.
The key components of the Ayushman Bharat Digital Mission include a health ID for every citizen that will also work as their health account, to which personal health records can be linked and viewed with the help of a mobile application, a Healthcare Professionals Registry (HPR) and Healthcare Facilities Registries (HFR) that will act as a repository of all healthcare providers across both modern and traditional systems of medicine.
Payments banks are niche banks which will be allowed to function with several restrictions.
The Prime Minister stressed on achieving financial inclusion.
Pradhan Mantri Jan Dhan Yojana and Make in India -- are not covered here.
Stating that pushing GDP growth, which has slipped to 5-year low of 6.8 per cent in 2018-19, is the top priority, President Ramnath Kovind said Modi govt will bring more reforms and raise farm investments to boost growth.
'Like doctors, health workers, police, bankers are also COVID warriors,' notes Tamal Bandyopadhyay.
The Governor, who completes one year in RBI on Wednesday, has stabilised the rupee and is getting a fix on inflation.
Sitharaman cancels Myanmar trip at last moment citing launch of Modi's Jan Dhan Yojana.
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The first phase would comprise universal access to banking facilities. Under this, basic bank accounts with zero balance, RuPay debit card and financial literacy, will have to be completed in the next one year, officials said.
80% of beneficiaries in 300 districts to be linked with direct benefits transfer
Low consumer demand, a slide in investments and troubles in the banking sector should prompt the government to recalibrate taxes and expenditure. It is also important to ramp up spending on health care and education, says CII president Sumit Mazumder.
Arun Jaitley will aim for jumps in other revenue streams for the government.
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The year 2014 was one of the most challenging years for India. For two consecutive years our GDP growth was sub 5 per cent. Employment generation had declined, the revenue buoyancy was low and the country had become investment starved.
As Prime Minister Narendra Modi is set to deliver his third Independence Day speech on August 15, he is inviting ideas from citizens on issues he should speak on
Bankers need to take a call on whether they will allow technology firms to run banks or banks themselves will turn into tech firms, says Tamal Bandyopadhyay.
The meeting will be attended by all heads and EDs of public sector banks
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
For the CBI, crimes are likely to become more innovative, complex, driven increasingly by technology and transcending geographical boundaries, says Anil Kumar Sinha.
The government is determined to stop generation of black money, he said.
The number of cyber crimes in India could touch 3,00,000 in 2015
Bankers said the mammoth task of cleaning up the PSBs and improving their health will be a mammoth task for any chief executive.
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