'Given the emerging trends, it may be time for India to embrace digital banking,' notes Pradipta Bagchi.
Tamal Bandyopadhyay, columnist and author of several books like From Lehman to Demonetisation: A Decade of Disruptions and Sahara: The Untold Story, tells Rediff.com why Yes Bank depositors should not panic and the current crisis at India's fifth largest private lender does not pose any systemic risk.
Amid slowdown blues, the government has unveiled a raft of measures over the past few months aimed at improving liquidity in the system, moderating interest rates as well as credit growth apart from addressing stress in the NBFC sector.
'The government in the past has also increased (the limit) from Rs 2.5 lakh to Rs 5 lakh. In future, whenever the time arises, we will look into the matter.'
Sitharaman said economic slowdown seems to have bottomed out and the coming festive season will help the economy start looking up.
Gathering of five or more people at public places is prohibited, but there are no restrictions on people stepping out for the purpose of buying medicines, and visiting friends and relatives (after 11 pm in view of the night curfew).
"It is a stable government and it will continue," Pawar said.
Kumar said the Commission will follow the time-tested methods of consultations and consensus building in bringing about any reforms and will not shy away from tough decisions, according to an Election Commission (EC) statement.
The move will avoid hoodwinking the system and reduce the blind spots, which will ultimately lead to protection of depositors' money.
Noted banker Uday Kotak said the country's financial system is currently in a Darwinian mode as only the fittest lenders are able to survive. Kotak also said that historically, whenever there has been a problem with a private sector lender, it has been merged with a state-run bank.
'Of the 202 debates, 79 were around attacking Pakistan and 66 attacking the Opposition and Nehru.' 'The PMC Bank scam where thousands of depositors lost their savings got just one,' points out Vanita Kohli-Khandekar.
As the fire at a Bhandup mall which claimed the lives of nine COVID-19 patients admitted at the hospital in the same building was finally doused on Saturday, a case has been registered against HDIL promoter Rakesh Wadhawan and five others for 'culpable homicide'.
The two central premier investigative agencies - Central Bureau of Investigation and Enforcement Directorate - have asked their officials to focus more on digital evidence, e-forums and social media to crack down on offenders. These are a crucial part of prosecution amid the second wave of the pandemic. The Income Tax Department is going full throttle on data analytics to issue notices in time-bound cases. Further, sleuths have been given electronic devices including laptops with secure connections, which keep data encrypted and inaccessible.
'Banking is a business of trust.'
Better known as Sunny Dewan, Sarang -- and his wife Anu -- have been regulars at Bollywood parties. Namrata Thakker takes a look at the couple's social calendar from their good ol' days.
The hoarding of cash accentuated from the very start of 2020, when the coronavirus pandemic started taking hold the world over, and fear of the pandemic prodded people to remain liquid for emergency use.
North Block is concerned that when India is trying to attract more investment, putting up restrictions on audit firms could create an avoidable bad advertisement.
The Enforcement Directorate (ED) has issued fresh summons to Shiv Sena MP Sanjay Raut asking him to appear on July 1 for questioning in a money laundering case linked to the re-development of a Mumbai 'chawl' and other related financial transactions involving his wife and friends, officials said.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
Now, more than 60 per cent of depositors of the bank will be able to withdraw their entire account balance.
Economists praise Das for his pragmatism and willingness to face challenges head on. And in doing so with the finesse of an able administrator.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
'In the business of money, where you are regulated, the liability lies on the head of the acquirer.' 'It is not a good thing when you cannot spot the risks.'
'Modi has presided over an ultra-nationalism that has stunted India's growth, been unable to change the country's external situation, brought foreign intervention into Indian affairs,' explains Aakar Patel.
A flavour-of-the-season approach does not work in investing, suggests Deepesh Raghaw.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
We present our alphabet of 2020, pulling in everything you'll remember about this year we'd rather forget.
Sensex closed 63.82 points higher at 26,851.05 in Muhurat trading; Nifty rises 18.65 points to end at 8,014.55.
Taking exception to Health Minister Harsh Vardhan not mentioning the death of healthcare workers due to Covid-19 in his statement in Parliament, the Indian Medical Association has published a list of 382 doctors who died due to the viral disease and demanded that they be treated as "martyrs".
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