The draft amalgamation scheme of Punjab and Maharashtra Co-operative (PMC) Bank with Unity Small Finance Bank (SFB) allowed quick relief to depositors with savings of up to Rs 5 lakh, but a long wait for those who had their nest egg with the scam-tainted bank. If the scheme gets approved, 96 per cent (or 880,000 of 924,000) depositors will get their full money straightaway after PMC is merged with Unity SFB. According to the draft scheme, retail investors may get up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC) instantly, and then some more in phases till they can recall their full deposits after 10 years.
Ashish Narsale brings you a solution that will help you tackle this problem even as it keeps you out of your children's bad books.
This is the first time airwaves in 700 Mhz band will be put up for auction
As per the initial proposal, DoT had sought 60 days time to start auction from the date cabinet decides on the spectrum base price and the NIA was to be issued after 15 days of the decision.
Telecom operators continued to place bids for 800 MHz and 1800 MHz bands.
As a multi-agency probe into the NSE case gathers pace, the grant of preferential server and data access to select brokers and their suspected misuse are being investigated threadbare to unveil all quid pro quo arrangements in a highly-sophisticated scheme that worked like a cricket betting scandal, officials said on Monday. While the bourse has said it has taken several steps over the years to strengthen its technology infrastructure, including as per regulatory orders, the officials said certain fresh disclosures call for a detailed probe into whether a select group of individuals in high positions had banded together to make illicit gains by facilitating the preferential trading slots, beginning over a decade ago. Even a split-second faster access is said to result in huge gains for a trader.
Move aimed at boosting retail investor participation in disinvestment.
The auction will help operators augment expansion of high-speed 4G voice and data services in the world's second largest mobile phone market.
On paper, the Thomson Oath Pro 55 smart TV seems to offer good value for money. But does it?
According to a study, the change in frequency for transmitting mobile signals could cost the telcos over Rs 1 lakh crore (Rs 1 trillion) cumulatively.
Spectrum auction kitty dips to Rs 1.05 lakh crore.
Gains were led by Tata Motors amid robust sales in June along with select financials.
Investors indulged in buying beaten down blue chips at lower and attractive levels.
In the past four months, launches of luxury and super luxury cars have sped ahead of non-luxury ones.
Airtel offers 4G service in 1800 Mhz band frequency while other companies are yet to roll out their services.
In its scheme of things, tackling inflation now comes ahead of ensuring growth in the world's sixth largest economy, points out Tamal Bandyopadhyay.
The auction is the biggest ever sale of 2G and 3G airwaves.
Tata Teleservices Ltd has decided to pull out of the upcoming 2G spectrum auction, leaving no takers for spectrum in the CDMA 800-MHz band. This will deprive the government of around Rs 18,300 crore.
The process of switching off the 3G network has already started with Kolkata in the recent-concluded June quarter. By September, the shutdown will be affected in 6-7 more circles and between December and March the entire 3G network would be shut down.
The Johnson and Johnson and Sputnik vaccines should be approved now, as should the Pfizer and Moderna ones, suggests Naushad Forbes. Leave it to the companies to figure out how to put in place the right chilling infrastructure. Don't let a lack of approvals deprive the country of availability, suggests Naushad Forbes.
India added three unicorns per month in 2021 to nearly double the overall number to about 85 at last count. And there are many gazelles and cheetahs in the pipeline. All gunning to be unicorns (and then decacorns) soon thereafter, notes Sandeep Goyal.
The retail inflation, which is factored in by the RBI to arrive at its monetary policy, has been on decline since last month. The previous low was 5.54 per cent in November 2019. The government has asked the RBI to restrict the inflation around 4 per cent, with a margin of 2 per cent on the either side.
Dealers of Tata Motors in most parts of the country have stopped placing orders for this small car in the last three-four months and the showrooms are displaying contemporary models such as Tiago, Tigor, Hexa and Nexon.
A negative net worth implies the company's liabilities are more than its assets
When it comes to performance and affordability, how do these Indian headphones fare when compared popular international brands like JBL and Sennheiser?
Lenovo, Xiaomi, Vivo, Gionee lead the onslaught, beating Indian and global brands with smart deals and astute image management measures.
India's telecom sector has been through dizzying peaks, troughs, policy U-turns, court battles, brutal competition, and daily controversies. India could go back to a private sector duopoly with just Reliance Jio and Bharti Airtel surviving the mayhem. The third player, Vodafone Idea, could be history.
Fitch Ratings has cut India's economic growth forecast to 8.7 per cent for the current fiscal but raised GDP growth projection for FY23 to 10 per cent, saying the second COVID-19 wave delayed rather than derail the economic recovery. In its APAC Sovereign Credit Overview, Fitch Ratings said India's 'BBB-/Negative' sovereign rating "balances a still-strong medium-term growth outlook and external resilience from solid foreign- reserve buffers, against high public debt, a weak financial sector and some lagging structural factors". The 'Negative' outlook, it said, reflects uncertainty over the debt trajectory following the sharp deterioration in India's public finances due to the pandemic shock.
Maintaining 4 per cent inflation is appropriate for India as targeting a lower rate could impart deflationary bias to the monetary policy, said a Reserve Bank paper. Under the current dispensation, the RBI has been mandated by the government to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side. The paper, authored by RBI Deputy Governor Michael Debabrata Patra and another official Harendra Kumar Behera, has found a steady decline in trend inflation to 4.1-4.3 per cent since 2014.
There are 29 licences in 18 service areas which will expire in 2015-16.
The government plans to bring down its stake to 26 per cent in these two banks, which are yet to be identified. This may not come in the way of getting investors for these banks, provided the government is willing to step back rather than run them the way it had been doing for over five decades since these banks were nationalised, points out Tamal Bandyopadhyay.
A crown of thorns awaits the next telecom minister at Sanchar Bhawan as the new incumbent will have to address a host of tricky issues like industry infighting, tariffs and improving financial health of the Rs 2.3 lakh crore industry.
Members of the G-23, who had shown courage to point out the flaws in the party's functioning, have allowed themselves to be co-opted by the Family to go through the motions of a post-mortem, notes Virendra Kapoor.
Fitch Ratings on Thursday said the resurgence of COVID-19 infections may delay India's economic recovery, but won't derail it, as it kept the sovereign rating unchanged at 'BBB-' with a negative outlook. It projected a 12.8 per cent recovery in GDP in the fiscal year ending March 2022 (FY22), moderating to 5.8 per cent in FY23, from an estimated contraction of 7.5 per cent in 2020-21. Fitch had in June last year revised outlook for India to 'negative' from 'stable' on grounds that the coronavirus pandemic had significantly weakened the country's growth outlook and exposed the challenges associated with a high public debt burden.
The market for vinyl collapsed with the advent of CDs in 1982. But LPs, as they were fondly called, have made a comeback in the past ten years, with certain editions costing quite a packet
Suneet Varma discusses his fondness for jewellery, his newly-minted role as a jewellery designer, and why he'd like people to reconsider their love for gold jewellery.
The Cabinet last month approved rules for mega-spectrum auction in which airwaves worth Rs 5.66 lakh crore will be put up for sale.
Chinese telcos hold 60-100 MHz of spectrum, while Indian companies hold 13-15 MHz of spectrum.
Monsoon in August was almost 24 per cent below normal, which was the sixth driest August since 1901. It came on the back of a 7-per cent monsoon shortfall in July.
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