Like everything else, the structure of banks may change, and banks may depend more on digital technologies and artificial intelligence for dealing with both their customers and employees.
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
A bench, headed by NGT Chairperson Justice Adarsh Kumar Goel, set up a five-member Committee to probe Thursday's gas leak incident in the chemical factory, in which 11 people were killed and 1,000 exposed, and submit a report before May 18.
Faced with prospect of its assets across the globe being seized just like Pakistan and Venezuela, the government decided to scrap retrospective taxation but the international embarrassment could have been avoided had 'attached' shares of Britain's Cairn Energy Plc not been sold, according to tax and legal experts. On Thursday, the government introduced a Bill in Parliament to scrap the tax rule that gave the tax department power to go 50 years back and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India. The 2012 legislation was used to levy a cumulative of Rs 1.10 lakh crore of tax on 17 entities, including UK telecom giant Vodafone, but substantial punitive action was taken only in the case of Cairn.
RIL has denied knowingly producing any gas from the ONGC block
According to new proposal for amendements in the labour law, a worker will be allowed to object to being laid off within three years, against no clear period specified in the law now.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
Currently, industries with up to 100 workers were allowed to do this.
Does the Union government or the RBI see itself as Krishna beheading Shishupal and what will constitute the 101st or indeed the past many sins for which a Sudarshan Chakra will have to be used? More importantly, what are those sins?
It would be a good idea to create independent oversight committees for each regulatory institution and indeed, even for their appellate bodies, says A K Bhattacharya.
'This year's Budget didn't give into populist measures everyone was expecting after demonetisation, so I think that was a positive step.' 'Hopefully the Budget will continue in the way it has been.'
The names of all the 3.30 crore applicants as per draft NRC and supplementary list of inclusions and exclusions (final NRC) have been published.
The manner in which India has allowed the rule of law to be subverted for over eight years is tragic, notes former additional solicitor general of India Bishwajit Bhattacharyya.
Advice to the new finance minister from former RBI governor Raghuram Rajan: 1. Clean up banks by reviving projects that can be revived after restructuring debt. 2. Improve governance and management at public sector banks. 3. De-risk banking by encouraging risk transfers to non-banks and the market. 4. Reduce the number and weight of government mandates for public sector banks, and for banks more generally.
"India has become the fastest growing major economy in the world. Despite the global slowdown, we have registered excellent growth. Today, India is a bright spot in the global economy. We are seen as the engine of global growth," he said.
Of the 289 faulty hip implant victims identified, 93 patients had undergone revision surgeries. The company, however, said it could reach only 67 patients and would pay Rs 25 lakh each to the other 26 as well after verifying their claims and if those patients approached J&J.
A roster of the work for fresh cases notified under the order of the chief justice of India will come into effect from February 5 till further orders.
NSE's board was to approve on Friday the annual financial statement for the year ended March 31, 2019, but it decided to defer the matter till its legal team firmed up a view on Sebi's order, sources said.
'This government has not created any employment.' 'Forget employment, the government had not done anything in skill development.'
When it closed close down the copper plant at Thoothukudi in 2013. Its orders were held illegal by the NGT on procedural grounds
To mark the first anniversary of the Sterlite firing anniversary -- 13 people died and several were injured when the Tamil Nadu police fired on a large crowd protesting -- various organisations will hold rallies and meetings in the port city.
Representatives of the British telecom company on Friday met senior finance ministry officials, in search of an amicable solution.
The sluggish legal system in India makes it extremely difficult for law-enforcing agencies in the ministry of finance to punish violations of foreign exchange laws. Unfortunately, it is not just FEMA. The Prevention of Money Laundering Act too has significant infirmities, say Paranjoy Guha Thakurta and Pranati Mehra.
Chandrayaan-3's success is a must for India's space ambitions; we can't afford to lose out. And for realising our space dreams, the Indian private sector must be encouraged because if we lose this race, the moon, Mars, and mineral-rich asteroids will already be crowded before we reach there.
The Finance Ministry is of the opinion that Vodafone might drag its tax dispute to court.
The justice delivery system is struggling to cope, creaking at the joints and bursting at the seams. Indian courts have to deal with about 30 million cases with a judicial strength of just about 19,000 judges.
Vodafone, according to sources, in its response to the Finance Ministry's offer for conciliation, had expressed keenness to settle the long-pending capital gains tax dispute.
The NRC will include the names of all Indian citizens who have been residing in Assam before March 25, 1971.
The 2,500-hectares lease included both notified and non-notified areas.
Summary of sports events and persons who made news on Wednesday
"Reform is not an end in itself. Reform for me is just a way station on the long journey to the destination. The destination is the transformation of India," he said.
The Opposition on Monday charged the government with trying to promote crony capitalism, creating fear by giving "unbridled power" to taxmen, trying to snoop into people's lives through increased use of Aadhaar through the provisions of the Finance Bill.
The environment ministry till May 2014 (still under UPA) ordered that cases like Vedanta's expansion plans need to consult people. But in December 2014, the NDA government reversed this position and in March 2015 the environment ministry extended Vedanta's environmental clearance till December 2018. This it did even while the question of the need for public hearing by projects in different kinds of industrial parks was being contested in the courts. This allowed the company to carry out construction.
Indian Prime Minister Narendra Modi who envisioned Make In India last September was at his eloquent best as he made a fervent plea to global businesses to come Make In India.
Lack of decisiveness and courage to deal with PSBs may turn out be the biggest impediment to the Modi government's economic initiatives, says Debashis Basu.
Nestle India had re-launched Maggi earlier this month with a mandate of being safe for consumption amid much fanfare
The report touches on variety of issues including consent, rights of children, data protection authority and right to recall data.
The problem of stressed assets needs to be addressed with effective recovery.
The second-longest serving chairman introduced quite a few measures for the primary market and implemented a new corporate governance framework.
