'LIC's proposed investment will come out of what is technically called the 'policyholders funds'.' 'As the name implies, these monies belong to policyholders; that is, you, me and 25 crore others who have taken a total of 30 crore policies from LIC.' 'It is not the government's or LIC's money to play poker with,' says S Muralidharan, former managing director, BNP Paribas.
According to the third batch of supplementary demands for grants tabled in the Lok Sabha, approval is being sought for gross additional expenditure of over Rs 1.58 lakh crore.
As probe into suspected black money stashed abroad by Indians gathers steam, banks in Switzerland are running from pillar to post to safeguard their interest.
'It can't be a coincidence that he and his family, uncles and all, vanished from India only days before the scam was discovered.'
While all the Aam Aadmi Party MLAs present in the House voted in favour of the motion as expected, there was no vote against it due to the absence of BJP legislators.
According to reports, public transport and banking services remain partly disrupted for the second day in some states.
According to A Krishna Kumar, Managing Director, the bank will try to maintain the employee strength at current levels even as it keeps expansion programmes in mind.
'Many non-resident taxpayers faced issues in filing Form 10F since the portal didn't allow those who didn't have PAN to file the form.'
'At a time when there's a lot of conversation happening around how AI has made art directors and production designers jobless, we will simply say that if your work speaks for you, you will never be out of work.'
'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.
19 per cent of all travel in India (by bus, train or air) was pilgrimage or religious travel (possibly the single largest after business and family-related travel), discovers Ambi Parameswaran.
'The idea of this movie is to trace these journeys and not to blame.' 'We could have talked what happened in 1948. This is what the Israelis did. This is what the Palestinians and Arabs did.' 'We didn't want to go there.'
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
Prime Minister Narendra Modi on Thursday launched his government's mega scheme ' Pradhan Mantri Jan Dhan Yojana', declaring that it was aimed at eradicating financial untouchability by providing bank accounts to the poor.
Many from this small lender have made it to other bank boards over the past 5 years
RBI will make a presentation on January 24 before the panel on the state of NPAs and stressed loans.
'Why is the RSS trying to destroy the indigenous culture of Assam and its language?' 'If these migrants settle in Assam, they will overwhelm the 47 per cent of people who speak Assamese.'
On the occasion of the first prime minister Jawaharlal Nehru's 125th birth anniversary, Sheela Bhatt/Rediff.com visits his residence of 16 years, and comes away marvelling at his enduring legacy.
Panjwar, 63 was involved in drug and weapons smuggling and was designated as a terrorist under the Unlawful Activities (Prevention) Act in July 2020.
The Enforcement Directorate has attached assets worth over Rs 14 crore belonging to the Gitanjali Group and its promoter and jeweller Mehul Choksi, one of the prime accused in the alleged over Rs 13,000 crore PNB loan fraud case. The properties attached, under the anti-money laundering law, include a flat measuring 1,460 sq feet located at O2 Tower in Goregaon area of Mumbai, gold and platinum jewellery, diamond stones, necklaces made of silver and pearls, watches and a Mercedes Benz car, the ED said in a statement. A provisional order for attachment has been issued under the Prevention of Money Laundering Act (PMLA) for the assets worth a total Rs 14.45 crore that are in the name of Gitanjali Group of companies and its director Mehul Choksi, it said.
"Our government does not delay decisions. We neither nurse problems nor keep them pending," Modi said.
The Securities and Exchange Board of India (Sebi) could soon issue interim orders imposing a market ban on the two former fund managers of Axis Mutual Fund (MF) for suspected front-running of trades, said people with knowledge of the development. "The market regulator has gathered prima facie evidence that demonstrates that the duo has violated the integrity of the market. "While a detailed investigation is still pending in the matter, Sebi could take action under Section 11 (4) to prevent further harm to the investors and the securities market," said a source.
Meanwhile, US President Joe Biden condemned Russia's annexation of Ukrainian territory on Friday.
Prime Minister Narendra Modi owns assets worth over Rs 2.23 crore, mostly as bank deposits, but has no immovable properties as he has donated his share in a piece of land in Gandhinagar, according to his latest disclosure about assets.
'The entire system acted as cheerleaders to Vijay Mallya. The RBI failed, the banks failed, the auditors of the banks and Mallya failed.'
There are concerns that his arrest and arraignment could bring with it a repeat of the kind of violence and protest seen during the January 6, 2021 attack on the US Capitol building by pro-Trump rioters in the aftermath of the 2020 presidential election that Trump lost to Joe Biden.
'Nirmalaji must consider herself a very lucky finance minister, partly because of the government's response to covid and partly because we as a nation have done very well as an economy, post pandemic.'
Here's the full text of President's address with a word cloud.
If a holiday, banks will have to report the details on the next working day.
Will G20 showcase an India that is inclusive, culturally rich, diverse and tolerant, asks Ramesh Menon.
Pablo Carreno Busta rallied from a set down to defeat Hubert Hurkacz 3-6, 6-3, 6-3 in Montreal to claim the biggest title of his career at the Canadian Masters on Sunday.
Budget-makers in North Block are looking to maintain this fiscal status quo, in spite of tax revenues nowhere close to where the government wants and in spite of possible higher expenditure commitments.
Companies owned by fugitive diamantaire Mehul Choksi have allegedly siphoned off over Rs 6,344.96 crore from the Punjab National Bank (PNB) using fraudulent letters of undertaking and foreign letters of credit, a CBI investigation into the scam has detected. The findings were submitted by the CBI in a supplementary chargesheet filed before a special court in Mumbai last week, where the agency said the PNB was conned by its employees who were allegedly hand in gloves with Choksi and his company executives and who facilitated the scam as part of a criminal conspiracy. The PNB officials at the bank's Brady House branch in Mumbai issued 165 letters of undertaking (LoUs) and 58 foreign letters of credit (FLCs) during March-April 2017, against which 311 bills were discounted.
He also stressed that whether we look from the world point of view or from the national viewpoint, the responsibilities of each member of the BJP are constantly growing. "Each and every worker of the BJP is a representative of the country's dreams," added PM Modi.
'MFs have a combined exposure of Rs 3.2 lakh crore to NBFCs, out of which Rs 1.1 lakh crore matures by September 2019.'
'We are facing a crackdown for more than a year. Our permission to collect funds was cancelled. Our bank accounts were frozen.' 'We believe that our work in India is very important. We want to be the environment watchdog. We do not want to waste time fighting legal battles.'
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With new private banks in the play, the going could become more difficult for the old-school state-run banks, already losing business and market position, forcing them to think hard towards consolidating and forming larger entities to garner big-ticket deals.
The BJP seems wanting to return to a 'Tamil Hindutva' agenda for elections in Tamil Nadu, explains N Sathiya Moorthy.
The focus of the Union Budget is on providing basic amenities to the poor, middle class and youth, Prime Minister Narendra Modi said on Wednesday, and asserted that it is imperative that India becomes self-reliant.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
