The observation came in an order issued by a Division Bench, comprising Chief Justice S Manikumar and Justice Shaji P Chaly, on January 25 while dismissing an appeal filed against a single judge order junking a plea seeking removal of the Prime Minister's photo from the COVID-19 vaccination certificates.
Reserve Bank of India (RBI) deputy governor M Rajeshwar Rao on Wednesday defended the central bank's decision of not allowing industrial houses to float banks, and said more deliberations are needed before RBI changes its stance on this issue agreed back in 2001. An internal working group (IWG) of the RBI had recommended allowing industrial groups into banking, but late last month the RBI said it kept on hold the two recommendations of allowing industrial houses and large non-banks to float banks. However, RBI had accepted 21 of the 33 recommendations of the group that submitted its report a year ago.
The news of Bengaluru-based IMA cheating thousands once again underlines the need for investors to steer clear of unregulated deposit schemes. The most important sign of a Ponzi scheme is the promise of exorbitant returns and so investors must ask how the promoter expects to earn the kind of return he is promising, says Sanjay Kumar Singh.
The Delhi high court on Friday dismissed with a cost of Rs 20 lakh actress Juhi Chawla's lawsuit challenging the 5G wireless network technology and said the plea was defective and filed for gaining publicity.
Since 2014, the public sector banks' branch network in rural and semi urban has grown by a mere 4,000 while for private sector banks, it doubled from 9,673 to 18,437.
The government has reconstituted a high level committee for the disposal of enemy properties that have been left behind by those who migrated and took up citizenship of Pakistan and China.
The Centre should privatise all public sector banks (PSBs), except the State Bank of India (SBI). This is because private banks have emerged as a credible alternative to PSBs with substantial market share. Also, government ownership hinders the ability of the Reserve Bank of India (RBI) to regulate the sector, according to a report by the National Council of Applied Economic Research (NCAER).
When looking for alternatives, consider several parameters -- your investment horizon and liquidity requirement, post-tax returns, and risk.
Finance Minister Nirmala Sitharaman presented her third Budget on February 1.
The Reserve Bank of India on Thursday kept the benchmark interest rate unchanged at 4 per cent and decided to continue with its accommodative stance against the backdrop of an elevated level of inflation.
Why are investors gung-ho about State Bank? asks Tamal Bandyopadhyay.
Consolidating its position, the Bharatiya Janata Party wrested high-profile Rampur and Azamgarh Lok Sabha seats in Uttar Pradesh from the Samajwadi Party and won three assembly seats, including that of Chief Minister Manik Saha, in Tripura in by-election results announced on Sunday.
Pakistan's Election Commission on Friday disqualified former prime minister Imran Khan for five years in the Toshakhana case for hiding proceeds from the sale of gifts he received from foreign leaders.
Unions claimed that about 10 lakh staff and officers of public sector banks and some private sector banks are participating in the strike.
A total of 246 militants of United Gorkha People's Organisation and Tiwa Liberation Army formally surrendered before Assam Chief Minister Himanta Biswa Sarma in Guwahati on Thursday.
'Largely, new demat accounts are now being opened by the younger crowd, particularly GenZ.' 'This is great news since younger investors start their journey with very little capital, so they are risking less.'
Police also said that people will have to adhere to all Covid-protocols, such as wearing face masks and maintaining social distancing, at the programme on Rajpath on January 26.
Banking operations including cheque clearance across the country got affected on Monday as bankers under the aegis of the United Forum of Bank Unions have gone on a nationwide strike to protest against the proposed privatisation of two state-owned lenders.
Bank strike continued for day-two on Tuesday, led by nine unions of public sector banks (PSBs) in the country, opposing government's policy to privatise the lenders. Customers will be inconvenienced to get services such as cash withdrawals, deposits, cheque clearances, remittance services. Government transactions related to treasury as well as business transactions will also be impacted. United Forum of Bank Unions (UFBU), an umbrella body of nine unions, had given a strike call for March 15 and 16.
'When I said the Gandhi family had to step aside, it was because we have consistently seen that the public has not accepted them.'
Every time we look at the Congress, its future, strengths, weaknesses, opportunities and threats, we find the situation more hopeless than even a few months earlier, observes Shekhar Gupta.
US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, and its audit committee, providing data and alleging that there have been significant financial irregularities to the prejudice of public shareholders, banks, creditors, and third-party suppliers. Amazon has said this warrants a thorough and independent examination of all relevant facts and related-party transactions, including of past financial years, by an independent agency. Separately, Amazon has written to Securities and Exchange Board of India Chairman Ajay Tyagi, seeking the withdrawal of the regulator's conditional approval granted to FRL related to the merger deal between the Future group and Reliance.
All four societies were under common management of the Sahara group and had collectively garnered Rs 86,673 crore, including more than Rs 47,000 crore collected by Sahara Credit Cooperative Society Ltd from nearly 4 crore depositors.
The only feasible way to have a healthy banking sector could be making it mostly private, along with two or three large, better-run government banks, suggests T N Ninan.
The balance sheet of the Reserve Bank plays a critical role in the functioning of the country's economy.
Avoid investing in a new ELSS scheme each year. Stick to one well-chosen scheme to avoid clutter in your portfolio.
Flush with liquidity, banks are eager to lend. And, therein lies the problem, warns Tamal Bandyopadhyay.
The Supreme Court on Wednesday granted bail to Alt News Co-founder Mohammad Zubair in all first information reports (FIRs) lodged in Uttar Pradesh against him concerning his alleged derogatory tweets.
NBFCs which have not met Sebi criteria will face tough action.
The Securities Appellate Tribunal has stayed a Sebi order that barred Franklin Templeton's Asia Pacific head Vivek Kudva and his wife Roopa from the securities market for one year.
The action came after Amit Shah accused Teesta of giving baseless information to the police about the 2002 Gujarat riots.
A proposal to withdraw the bill was moved by Minister of State for Finance Pon Radhakrishnan and was approved by the House
According to the report, financial assets of the Indian households are predominantly in the form of bank deposits, followed by life insurance - a pattern that got disrupted after note ban
Officials said multiple premises of Baig and his associates are being raided by the agency under the provisions of the Prevention of Money Laundering Act
The Reserve Bank of India (RBI) has approved a three-member committee of directors to run the day-to-day functioning of cash-strapped Lakshmi Vilas Bank.
SBI has twice hiked interest rates on fixed deposits within a month, but an investor still gets better returns at the post office.
The country's largest lender SBI will levy charges for cash withdrawal beyond four free transactions in a month from customers holding the basic savings bank deposit (BSBD) accounts. These customers will also be levied charges for cheque book beyond 10 leaves in a year. As per the revision in service charges for BSBD accounts, State Bank of India (SBI) will levy charges ranging from Rs 15 to Rs 75 for the "additional value added services" with effect from July 1, 2021.
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.
Indian bonds remained volatile over the past week on uncertainties over the maiden offshore sovereign bonds issuance, according to a report by DBS Group Research.
The currency with the public is 10.3 per cent higher than it was in the week preceding November 8, 2016 - from Rs17.97 trillion to Rs18.76 trillion.
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