'The Indian economy and the Indian financial sector today remain resilient and much better placed.'
Banks offering a higher rate on savings bank deposits have seen robust growth in the past year but the momentum might get slower as interest rates turn more benign.
If they are made accountable, bad loan cases will shrink dramatically, recoveries will rise, and the NCLT process will be more manageable, asserts Debashis Basu.
Banks have collected about 1,500 kg of gold from temples and trusts under the Gold Monetisation Scheme (GMS) since its launch last November.
The Swiss National Bank, the country's central banking authority, has estimated the funds currently held by Indians in Swiss banks at a mere $1.98 billion. Fear of disclosure due to greater scrutiny of this illicit wealth has played the main role in the flight of capital.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
Retirement fund body EPFO may lower the interest rate on deposits to 8.6 per cent for over 4.7 crore (47 million) subscribers for 2011-12 to match it with the rate of public provident fund (PPF) scheme.
Finance Minister Nirmala Sitharaman on Saturday reviewed the performance of public sector banks (PSBs) on various financial health parameters and their resilience in the wake of the current global financial scenario emanating from the failure of some international banks in the US and Europe.
Internal assessment follows banks' worries over systemic risks.
Today, the economy requires a certain amount of push not just from the monetary policy but also from its transmission: Das.
The case against Balaji and his aides pertains to his tenure as the state transport minister in the All India Anna Dravida Munnetra Kazhagam government during 2011-15.
The Delhi high court on Monday dismissed a public interest litigation (PIL) challenging the RBI's decision to withdraw Rs 2,000 denomination banknotes from circulation. A bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad, which had reserved its order on the PIL on May 30, rejected the plea. Petitioner Rajneesh Bhaskar Gupta has contended that the Reserve Bank of India (RBI) has no power to withdraw Rs 2,000 currency notes from circulation and only the Centre could have taken a decision in this regard.
The summons were sent to Singham recently on his personal email ID and also through the Chinese diplomatic channels after the ED routed them through the ministry of external affairs, the officials said.
The RBI plans to increase e-smart facility.
Rajan, who is presently lodged at the Tihar jail, sought a stay on the release of the series and an order to take down the trailer.
Reserve bank is working with the govt to bring suitable amendments in the statutory provisions
There is an impression within the Tamil Nadu BJP -- although no one is airing it -- that over-exposure for Narendra Modi over the past months may work against party candidates, as they have triggered a near-continuous social media debate on his achievements and failures, points out N Sathiya Moorthy.
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Stating that there are strong inter-linkages between banks, NBFCs and other deposit-taking entities, he said for monetary policy to be effective and financial markets to remain stable, they should be regulated by the central bank.
The ruling Aam Admi Party in Delhi rejected the allegation of any wrongdoing and accused the BJP of "using all its power to finish AAP".
'Despite being Bihar chief minister twice and an MLA for over three decades, he and my mother used to stay in a jhopri in our village.'
Interest rates are set to fall again with public sector banks today agreeing to lower deposit and lending rates next month.
The government's step could push investors to choose riskier equity, or to fall back on bank deposits, thereby negatively impacting the debt market which actually needs to grow, points out T N Ninan.
This will go towards payment of salaries to employees of PSU and government corporations, who have not been paid for a long time.
The apex court said a tenant or an occupier of a premises does not have any right to move the government for initiating proceedings under the Public Premises (Eviction of Unauthorised Occupants) Act 1971. Interpreting section 7 of the Act, the apex court said the power to move the Estate Officer for evicting an occupier or a tenant can be exercised only by the landlord/owner.
Switzerland makes public 2,600 dormant a/c; 4 from India.
The finance ministry on Friday said 5.52 crore (55.2 million) bank accounts have been opened till October 7 and deposit of Rs 4,268 crore (Rs 42.68 billion) have been mobilised under Pradhan Mantri Jan Dhan Yojana (PMJDY).
A statement issued by the Manipur police stated that the state police and central forces conducted a search operation in Tamenglong, Imphal East, Bishnupur, Kangpokpi, Churachandpur and Kakching districts and destroyed 12 bunkers both in the Hill and the Valley.
It won't be easy for the banking sector to better its performance every quarter, predicts Tamal Bandyopadhyay.
The government on Thursday kept interest rates unchanged on small savings schemes, including NSC and PPF, for the second quarter of 2022-23 amid high inflation and rising interest rate. The interest rate on small savings schemes has not been revised since the first quarter of 2020-21. Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to have an annual interest rate of 7.1 per cent and 6.8 per cent, respectively, in the second quarter of this fiscal.
Here are the highlights from the Lashkar terrorist's deposition on Day 4.
Diversified business conglomerate Mahindra and Mahindra (M&M) has picked up a 3.53 per cent stake in private sector lender RBL Bank for Rs. 417 crore. "We may consider further investment, subject to pricing, regulatory approvals, and required procedures. However, in no circumstance will it exceed 9.9 per cent," M&M said in an exchange notification on Wednesday. Shares of RBL Bank jumped 7.1 per cent to settle at Rs. 238.8 apiece on the BSE on Wednesday, close to their 52-week high of Rs. 242.1.
'The India which was all about glamour and razzmatazz through which he could earn the trust of people of the other India, which was Bharat.'
The changes in the domestic and global economy following the outbreak of the Covid-19 pandemic are altering the corporate profit league table in India. Reliance Industries (RIL), which topped the India Inc profit chart for more than a decade, lost out to State Bank of India (SBI) in the 2023-24 (FY24) April-June quarter (first quarter, or Q1). India's biggest lender reported a consolidated net profit (adjusted for exceptional gains and losses) of Rs 66,860 crore during the trailing 12-month (TTM) ended in June this year, ahead of RIL's TTM adjusted net profit of Rs 64,758 crore in the quarter.
State information and public relations minister Dr RK Ranjan said combing operations have been launched in all districts, particularly in vulnerable areas.
The alleged chit fund scam in West Bengal involving the Saradha Group revolves around a total sum of Rs 2,460 crore with 80 per cent of the depositors' monies still remaining unpaid, a latest investigation report has revealed.
The court also said that under the provisions of the Information Technology Act, even intermediaries like social media platforms Google, Facebook and Yahoo could be held liable for penal action for display and circulation of photos and name of the victim by others.
Prime Minister Narendra Modi on Tuesday attacked the Congress, saying it skipped the meeting convened to select the new Chief Information Commissioner (CIC) as he is a Dalit and this reflected the anti-Scheduled Castes mindset of the main opposition party.
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
In a surprise move that comes in the midst of an inquiry into the phone hacking scandal, James Murdoch, the son of media baron Rupert Murdoch, resigned on Wednesday as director of the United Kingdom-based companies that run prestigious titles like The Sunday Times, The Sun and The Times.
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