Reserve Bank of India on Thursday said a centralised portal would be ready in three to four months wherein depositors and beneficiaries can access details of unclaimed deposits across various banks. As of February this year, about Rs 35,000 crore of unclaimed deposits were transferred to RBI by public sector banks in respect of deposits which were not operated for 10 years or more. "In order to improve and widen the access of depositors/beneficiaries to such data, RBI has decided to develop a web portal to enable search across multiple banks for possible unclaimed deposits based on user inputs," RBI Governor Shaktikanta Das said while announcing the first bi-monthly monetary policy for the current financial year.
'There are many things we need to work on.' 'At the heart of it is, one, the extent of inequality, which is not good for democracy and nation; two, a structural decline on how a country ought to function, how people should be held accountable, whose role is what.'
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
Besides Uttar Pradesh, the other six states where bird flu is confirmed are Kerala, Rajasthan, Madhya Pradesh, Himachal Pradesh, Haryana and Gujarat.
The new report highlights how different parts of the intelligence community have arrived at disparate judgments about the pandemic's origin.
The issue is likely to be discussed on Thursday at a meeting of Sebi's board, which would also be apprised of the impact of the Finance Ministry's decision for not agreeing to such a proposal from the capital markets regulator, sources said.
Reliance Industries, construction major L&T and IRB Infrastructure are some of the top companies that have used an infrastructure investment trust structure to reduce part of their debt and generate returns for their investors. Earlier this month, IRB Infrastructure InvIT was listed on the National Stock Exchange, giving its investors an option to exit by selling their units. The listing came within months of the Securities and Exchange Board of India's (Sebi's) guidelines for conversion of private unlisted InvITs into listed ones were issued.
In prior elections, not only have opinion poll forecasts been very different from the results, the error margin has increased over time. One need only look at the charts that show the Sensex half a year before and after the results day for the last six elections. The markets did not change direction in any, says Neelkanth Mishra.
'Space out when raising funds; Sebi mulls securitisation platform'
A lesson we have not learnt from China is the urgent need to knit the vast country together to keep it from falling apart at the seams. While there is considerable dent in poverty, sadly, the North East remains as distant today as it always was, points out Shreekant Sambrani.
'The domestic scenario is much better than earlier, demonstrated in the March quarter earnings.'
ndia has said it is ready to sign the global trade deal as early as next month if other WTO members agree to its demand for concessions on food subsidies.
Markets will be closed on Thursday and Friday on account of Holi and Good Friday, respectively.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
This is the full text of Prime Minister Manmohan Singh's address to media persons ahead of his interaction with them in New Delhi on Friday
'Everybody says 5G and communication is important.' 'Everybody says automation, robotics, human computing interfaces -- people and machines working together -- is the future.' 'Everybody agrees that cybersecurity is something that is here to stay.' 'Everybody agrees that synthetic biology is important.' 'Instead of outlining thinking about industries for tomorrow and the future, let the evolutionary pathway be built in a way that it promotes robust, creative, thinking.'
The Delhi high court on Friday sought response from the Central Bureau of Investigation (CBI) on the bail plea by former managing director and chief executive officer of the National Stock Exchange (NSE) Chitra Ramkrishna in connection with the co-location case. Justice Sudhir Kumar Jain issued notice on the bail application and listed the case for further hearing on May 31. The trial court had dismissed the bail plea of the former NSE boss on May 12 and said that no ground for bail was made out at this stage.
The sentiment around Indian equities remains positive and unchanged.
India's macroeconomic situation is certainly better than what it was a year ago, eminent economist Pinaki Chakraborty said on Monday, while expressing hope that the country will be back on the path of economic growth if there is no major third wave of the COVID-19 pandemic. In an interview with PTI, Chakraborty, who is the director of the National Institute of Public Finance and Policy (NIPFP), said that inflation may remain at an elevated level as there was a significant fiscal and monetary expansion in the last 18 months. "The current macroeconomic situation is certainly much better than what it was one year back. We are seeing recovery in most sectors," he said. Chakraborty noted that COVID-19 vaccination has been going on at a very fast rate in India.
Thousands of agitators took part in the rally, during which violence between tribals and non-tribals was reported in Torbung area, a senior police officer said.
In stock market parlance, "meme stock" was certainly the word of the year. Coined to mean those stocks that gain sudden popularity on the internet with resultant high prices, it was used to derisively describe the behaviour of retail traders globally who entered the market in huge numbers in the two Covid-19 years. A recent study, "Market Concentration and Retail Participation in India", by the National Stock Exchange economics team led by their chief economist Tirthankar Patnaik shows unlike these impressions, the retail investors, at least in India, have not performed inconsistently.
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
The Congress released a booklet 'Nau saal, Nau sawaal', asking nine questions from Modi. The BJP rejected the Congress' criticism as a 'bundle of lies and mountain of deception' and said the questions are born out of 'pathological hatred' of the PM.
In New Delhi, Singh will continue US administration's ongoing consultations with India, and advance a range of issues in the US-India economic relationship and strategic partnership.
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The Congress works more but is not good at marketing itself, unlike opposition parties, believes party vice-president Rahul Gandhi.
The executive order, which was signed by Trump on Thursday, prohibits certain purchases involving publicly traded securities or any securities that are derivative of or are designed to provide investment exposure to such securities of any Communist Chinese military company.
The Asian markets are largely trading in the green, taking heart from a positive close on Wall Street.
Close to 20 regional stock exchanges, including the big exchanges of Delhi, Chennai, and Bengaluru, have voluntarily exited in the face of SEBI's stringent regulations. Namrata Acharya finds out what makes CSE continue to fight its lone battle.
It will take over large non-performing assets of banks and help in revive companies ridden with bad debts.
The most immediate challenge for growth is the disruption of the global economy brought about by the Ukraine war and related sanctions, the Covid shutdowns in China and the rising tide of inflation, points out Nitin Desai.
The SME segment has been grappling with lack of liquidity and lacklustre institutional participation.
Most experts said indices would open higher on Monday and rally might sustain for a few sessions
Fundraising activity in the upcoming financial year 2022-23 may even surpass FY22 when 52 Indian companies raised a record Rs 1.11 trillion via initial public offerings (IPOs). According to a note by PRIME Database, 54 companies (including LIC) plan to raise Rs 1.4 trillion and currently hold the Securities and Exchange Board of India's (Sebi's) approval. Another 43 companies, the note said, are looking to raise about Rs 81,000 crore but waiting for Sebi nod.
The credit guarantee cover under the scheme would be both transaction-based (for single eligible borrowers) and umbrella-based (for a group of eligible borrowers).
The IOC stake sale will, however, dwarf in front of Rs 22,557 crore or Rs 225.57 billion that the government raised through a stake sale in Coal India Ltd last year.
Lawyers say compensation may be an uphill task for investors because of a lack of judicial precedent and broader institutional difficulties.
Here's the full text of President's address with a word cloud.
This may mean easier access, simplified KYC and documentation requirements, and fewer investment restrictions for a majority of FPIs, especially broad-based funds and pooled vehicles that were earlier part of Category-II.
But experts say downside limited, pockets of opportunities for investors
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