We have the workforce, now we need to ensure that we take full advantage of game-changing technologies and geopolitical openings, suggests Jayant Sinha, chairman, Parliament's Standing Committee on Finance.
Having successfully executed the merger with parent HDFC, HDFC Bank's managing director and chief executive Sashidhar Jagdishan on Saturday said the country's largest lender aims to double every four years. In a letter to the over 4,000 employees from HDFC who joined the bank's rolls on Saturday, Jagdishan said the future is bright, and the work on realising the potential of the merger starts now. "The runway for financial services and mortgage, which are so underserved and under penetrated, is going to be very large. HDFC Bank - the combined entity - with a large and growing distribution and customer franchise, more than adequate capital, healthy asset quality and profitability, will be best positioned to capture growth.
Foreign portfolio investors (FPIs) are likely to seek from the finance ministry a six-month extension of the date for complying with the amendments to the Prevention of Money-Laundering Act (PMLA), citing implementation challenges. Sources said FPIs, through their custodians, were planning to approach the ministry, highlighting key concerns and seeking more clarification. The ministry, through a notification on March 7, lowered the threshold for reporting ultimate beneficial ownership (UBO) for non-profit organisations and politically exposed persons to 10 per cent from 25 per cent.
The Centre is considering a gradual phasing out of certain direct tax exemptions meant for corporate and personal tax payers. This is among the tax proposals being discussed for the upcoming Union Budget 2022-23. A top policymaker said that according to the government's internal assessment, the percentage of corporates and individuals shifting to the new exemption-less tax regime has been very encouraging, and the Budget-makers expect many more to make the switch in the coming years. The person also said the finance ministry is exploring the option of rationalising the capital gains tax rates.
Stick to low-cost ULIPs launched in the past few years. Go with an insurer with a good investment team and solid track record of long-term returns, suggests Sanjay Kumar Singh.
One of the biggest advantages of index funds and ETFs is their low cost, points out Sarbajeet K Sen.
'Who you know today will determine who you know tomorrow.' 'Becoming an expert in your domain will incentivise others to have you in their networks.' 'And the more diverse your network, the better it is.' An enlightening excerpt from Ambi Parmeswaran's All The World's A Stage: A Personal Branding Story.
Investors need to evaluate how they stack up against other high credit quality fixed-income options before putting money in them.
'A 25 year old buying a high-value policy now will be well covered even in his 40s.'
The Delhi Police's crime branch had, on March 31, lodged an FIR against seven people, including the cleric, on a complaint by station house officer of Nizamuddin police station for holding a congregation of Tablighi Jamaat followers in alleged violation of the orders against large gatherings to contain the spread of coronavirus.
Brand India's societal divisions and distortions have remained as much relevant in 'liberal' America and Europe as it still is in the structurally stratified Indian society of the 21st century, observes N Sathiya Moorthy.
How should you, as a consumer, be prepared for a rate cut, if any? Read on to find out more.
For Yoginder, it is a release from pain. But for us, his friends, it is the loss of a warm and generous life companion, says Nitin Desai of his 50-year association with the eminent economist who passed into the ages on December 6, 2022.
Indian start-ups breathed a sigh of relief after the UK government facilitated the acquisition of the now-defunct Silicon Valley Bank's (SVB's) British arm by HSBC. In a bid to allay fears, the US Federal Deposit Insurance Corporation (FIDC) announced recently that it had transferred all deposits of start-up-focused SVB to a newly created bridge bank and all depositors would have access to their money. President Joe Biden also sought to reassure jittery depositors that they can have confidence that the US banking system is "safe".
Finance Act, 2019 has made it mandatory for certain categories of taxpayers to file their ITR, even though their income may be below the taxable threshold. read on to find the details.
You can gift your sister a Women Special Credit Card, which is not only loaded with exciting rewards for women, but they are also your sister's first step towards a better credit management.
Bull markets need a a charismatic leader and a fancy destination.
With days to go before the new tax regime around crypto assets kicks in, several investors are reportedly either booking profits, rejigging their portfolios or moving their crypto assets to their private wallets outside of India. Starting April, gains from trading in crypto and other virtual assets like non-fungible tokens (NFTs) will be taxed at a flat 30 per cent, as announced in the Union Budget. And, 1 per cent of tax will be deducted at source (TDS) on every transaction involving crypto and other virtual assets. The new tax regime also bars investors from offsetting losses from one crypto asset (such as Bitcoin) against gains from another (say, Ethereum).
A 6-7 million tonnes shortfall in rice production due to a fall in paddy sowing area is likely to keep rice prices at elevated levels, adding to the inflationary pressure that the slowing economy is already grappling with. Elevated food prices, including that of cereals, had led to retail inflation reversing a three-month declining trend, to touch 7 per cent in August. Similarly, the wholesale price inflation, which declined to 11-month low, also showed price pressures from cereals resulting from wheat output being impacted by severe heat waves in some parts of the country.
Discuss your interests, passion, hobbies etc to help you find things in common with each other.
Six compelling reasons to use your credit card. WARNING: reckless use of plastic can land you in a debt rap
These ETFs will also carry interest-rate risk, especially the 10-year ETF. The investor can overcome this risk by holding them till maturity, suggests Sanjay Kumar Singh.
The new wing will be known as the corporate finance investigation department, which will be headed by one of Sebi's executive directors. This department will have information technology solutions experts, particularly to detect the menace of frauds.
Staying invested for a long time and making money in the process requires patience, strategy and discipline.
The committee will submit its report in two months and its chairperson can invite any expert of any institution in the country to help in the probe into the April 10 tragedy, a notification by Jharkhand tourism department said.
Mahesh Padmanabhan, principal advsior, RelaxWithTax, will answer all your tax-related queries in an online chat on February 5, between 2 pm and 3 pm
With the wedding season already in full swing, a few things to keep in minutes financially when tying the knot, advises Bindisha Sarang.
'Returns can be very variable in equity markets.' 'That is why I tell small investors don't put 100 per cent of your money in equities, even if you are young.'
'Mr Badal wanted to talk to a member of the Gandhi family to bring about some sort of rapprochement between the Akalis and the Congress which were the two major parties at that time.'
Credit cards are no angel or devil. Spending habits and personal finance management make it what it appears to be. Let there be no illusion, think real, be wise.
Calling RBI Governor Raghuram Rajan's exit a 'bad omen' for the Indian economy, eminent economists and former policymakers on Sunday said it will be seen by the world as India's non-approval to a policy against inflation and bad loans.
Stressed MSME borrowers would be eligible for restructuring of debt, if their accounts were classified standard.
Blockchain's promise: Dramatically speeding up transactions, explains Ajit Balakrishnan.
The future of cryptocurrencies in India appears uncertain but that has not deterred young Indians from embracing the so-called 'fourth industrial revolution' world, where interconnectivity and smart automation, much of it relying on blockchain technology, drive human civilisation. Reserve Bank of India (RBI) Governor Shaktikanta Das has repeatedly warned of macroeconomic instability and even "serious consequences" if cryptocurrencies turn mainstream. The country's monetary authority wants a China-like total ban on crypto, not even allowing these currencies to be treated as investments. Though Parliament's website had listed the Cryptocurrency and Regulation of Official Digital Currency Bill as one seeking a total ban of cryptocurrencies in the country, it was not presented in the Winter Session. India now has the highest number of cryptocurrency investors in the world.
The DMK leadership may now have to deal with a demand for more seats from its Congress ally in the Lok Sabha polls, predicts N Sathiya Moorthy.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Chartered accountant and Sebi registered investment advisor, Harsh Vardhan Roongta, answers your home loan queries
Industry players believe the new DFI model will be initially risk capital, which will then be used to mobilise additional resources from development agencies such as World Bank.
This is a challenge India's political establishment will have to face unitedly, without looking for electoral benefit, warns Vir Sanghvi.
According to highly placed sources, the finance ministry is likely to extend ECLGS and other loan guarantee schemes for micro, small and medium enterprises (MSMEs), hospitality and tourism sector, and the health infrastructure beyond March 31, Business Standard has learnt. This is likely to be announced by Finance Minister Nirmala Sitharaman as part of her Budget speech on February 1.
