Recorded versions or bhajans being recited by those present at the temples were played out at around 5 am to counter the morning azaan being recited on the loudspeakers.
The Securities Appellate Tribunal has quashed a Sebi order that had barred Yashovardhan Birla and others from the securities market for two years for alleged mis-utilisation of IPO proceeds.
The Centre has increased the premium rates for its flagship insurance schemes, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), for the first time in seven years due to "long-standing adverse claims experience", and to make them economically viable. The premium for PMJJBY would increase from Rs 330 to Rs 436 a year effective June 1, and the PMSBY premium would rise from Rs 12 to Rs 20, the Ministry of Finance said in a statement. PMJJBY provides life insurance cover worth Rs 2 lakh to all account holders aged 18-50 years.
Demonetisation is the biggest reason for the rise in preference for small savings.
The Supreme Court (SC) on Monday slapped a fine of Rs 2000 ($25) and a four-month jail sentence on fugitive businessman Vijay Mallya. In addition, the former liquor baron has been asked to deposit $40 million with 8 per cent interest within a month, failing which his properties would be attached to recover the amount. The court held Mallya guilty of contempt after it was brought to its notice that he had transferred $40 million to his children in the US.
The Bharatiya Janata Party on Sunday won four seats in Haryana, Uttar Pradesh, Bihar and Odisha, while the Rashtriya Janata Dal retained the Mokama assembly seat in the bypolls to seven assembly constituencies in six states.
'Amritpal is the creation of journalists and the inaction of the government in Punjab.'
Some of the services like cash deposit and withdrawal at the counter and cheque clearances have been impacted due to the strike by banking staff.
Indian Sellers Collective (ISC), a trade association of micro and small enterprises and family businesses, on Wednesday urged IT veteran NR Narayana Murthy to cooperate in the Competition Commission of India's antitrust probe against Amazon for alleged anti-competitive practices. In 2014, Murthy's Catamaran and Amazon had formed a joint venture, Prione Business Services. On Monday, the partners announced that they have mutually decided not to continue the JV beyond May 2022. ISC thanked Murthy for deciding to end the joint venture with Amazon.
November 8 marks 6 years after demonetisation. A K Bhattacharya reveals how the prime minister and the RBI worked together for months before Modi's 8 pm speech. A riveting excerpt from The Rise Of Goliath: Twelve Disruptions That Changed India.
Justice Ramana said the body was required to be "created under a statute" clearly defining its powers, functions, and duties.
With the 115 bps reduction in repo rate beginning February, banks have already transmitted 72 bps to the customers on fresh loans and some large banks have transmitted as much as 85 basis points.
Capital markets regulator Sebi on Monday came out with a framework for operationalising the gold exchange, wherein the yellow metal will be traded in the form of electronic gold receipts (EGRs). The stock exchange desirous of trading in EGRs may apply to Sebi for approval of trading in the new segment, the regulator said in a circular. The bourses can launch contracts with different denomination for trading or conversion of EGR into gold. Under the new framework, the entire transaction has been divided into three tranches-- creation of EGR; trading of EGR on stock exchange and conversion of EGR into physical gold.
Companies such as Tata Sons and Bharti Telecom, which are unlisted but have listed subsidiaries, may soon have to file periodic financial statements with the registrar of companies under the new provision of the Companies Act. The provision requires greater financial disclosures by a certain category of unlisted companies.
Do you have parents who have turned 60? You may want to forward Sarbajeet K Sen's suggestions to them.
During the first half of the financial year 2021-22, the reported number of fraud cases in various banking operations increased to 4,071 as against 3,499 in the year-ago period, the RBI's Report on Trend and Progress of Banking in India 2020-21 showed. However, the amount involved in frauds in various banking operations based on the date of reporting declined to Rs 36,342 crore during April-September 2021 from Rs 64,261 crore in the corresponding period of the previous financial year, the report said on Tuesday. In H1 2021-22, banks saw 1,802 reported cases of frauds amounting to Rs 35,060 crore which were related to advances.
Reserve Bank of India (RBI) on Friday kept the benchmark interest rate unchanged at 4 per cent and decided to continue with its accommodative stance despite rising inflation. This is the 11th time in a row that the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has maintained the status quo. RBI had last revised its policy repo rate or the short-term lending rate on May 22, 2020 in an off-policy cycle to perk up demand by cutting the interest rate to a historic low.
These banks need to build a significant deposit base to start full-fledged banking.
Every patriot should learn from our history and recognise that celebrating size will neither negate nor obscure the huge economic challenges that India faces, asserts Rathin Roy.
A provisional order under the Prevention of Money Laundering Act has been issued for attaching bank deposits, plots, flats and residential houses, it said in a statement.
The court also said that the "frivolous contentions" by the petitioner objecting to the PM's photo and his "morale boosting message" on the vaccination certificate, was "not expected from a citizen of the country".
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Tata Sons, India's biggest business group, and firms controlled by billionaires Anil Ambani and Kumar Mangalam Birla are among the 26 companies that have applied for licences to open banks.
The federal probe agency wants to question and record Ayyub's statement in a money laundering case against her.
The Bombay high court on Tuesday directed the Mumbai civic body to demolish the unauthorised construction at Union minister Narayan Rane's bungalow in Juhu area in Mumbai, noting that it violated the Floor Space Index (FSI) and Coastal Regulation Zone (CRZ) rules.
Leading stock exchanges BSE and NSE on Friday decided to drop Yes Bank from Futures and Options segment from May 29. The existing Futures and Options contracts across all expiries will expire on May 28.
'The banks cannot pass on the hike in premiums to its customers, according to the norms. The premium won't go up substantially in any case and may be hiked to 12-13 paise (per deposit of Rs 100 a year),' Finance Secretary Rajiv Kumar said.
The Bharatiya Janata Party's bypoll win in four of the six seats it contested has invigorated the party ahead of assembly polls in Gujarat and Himachal Pradesh.
'The solution is to enable a graceful transfer of the deposit and funding 'franchise' from capital-deficient firms to capital-surplus firms.' 'This will expand credit intermediation, bring down its costs, and put the financial sector on a definite path of recovery,' argues former RBI deputy governor Viral Acharya.
Post office savings deposit, recurring deposit accounts and the senior citizen savings scheme account have shown the highest growth in the current financial year.
Budget carrier Go Airlines, which has rebranded itself as 'Go First', has filed preliminary papers for an initial share sale worth Rs 3,600 crore.
The Supreme Court on Tuesday dismissed a plea challenging the Delhi high court order which had rejected a public interest litigation (PIL) seeking to halt Central Vista construction work in view of the COVID pandemic.
Tax shortfall: Finmin asks banks to deposit March TDS by month end.
In an interim relief, the Supreme Court on Thursday ordered the status quo and said the Delhi High Court-appointed three-member Committee of Administrators (COA) will not take over the affairs of the Indian Olympic Association.
The Delhi High Court on Tuesday directed the setting up of a three-member Committee of Administrators (CoA) to take over the affairs of the Indian Olympic Association (IOA).
Given the relevance of bank deposits for Indian savers, whether the regulator would permit linking savings interest rate to a repo-like structure needs to be seen, as a move of this nature could increase volatility in savings also.
An investigation was started into the 2011 World Cup final by the Sri Lankan Ministry of Sports, following former Minister of Sports Mahindananda Aluthgamage's allegations that the April 2, 2011 final was fixed even though no substantial proof has been furnished to corroborate the charge.
Investors need to evaluate how they stack up against other high credit quality fixed-income options before putting money in them.
Amid a tussle between the Union government and Twitter over the new IT rules, officials of the microblogging site on Friday deposed before a parliamentary panel chaired by Congress's Shashi Tharoor over preventing misuse of social media.
Here's how the move will affect the banks' customers.
The country's largest lender State Bank of India on Wednesday said it has reduced its marginal cost of fund-based lending rate (MCLR) by up to 15 basis points across various tenures, effective March 10. The bank has reduced its one-year MCLR by 10 basis points to 7.75 per cent from the earlier 7.85 per cent, SBI said.
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