Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
Telecom department says spectrum can't be used as collateral because it's government property
The jewellers and companies linked to Nirav Modi and Mehul Choksi had allegedly colluded with PNB officers to obtain fake bank guarantees to get loan from overseas branches of Indian banks including Allahabad Bank, Axis Bank and UCO Bank.
Apart from navigating the bank through the Covid crisis, Jagdishan may also have to deal with the latest development on the auto loan lending practice scam. He will be expected to deliver consistent profit growth of 20 per cent-plus quarter after quarter, irrespective of the operating environment.
India's economy grew by 1.6 per cent in the fourth quarter of 2020-21, restricting the full-year contraction to 7.3 per cent, official data showed on Monday. The fourth quarter growth was better than the 0.5 per cent expansion in the previous October-December quarter of 2020-21. The gross domestic product (GDP) had expanded by 3 per cent in the corresponding January-March period of 2019-20, according to data released by the National Statistical Office (NSO).
In August, RBI allowed 11 business houses to start a payments bank.
The trick is to know how long you are supposed to hold which document, observes Bindisha Sarang.
'NiMo having skipped, the next best bet is a high-profile banker.' 'Ms Usha happens to be in the wrong place at the wrong time.' 'Ms Usha's crime? That's as thin as it gets.'
FinMin finally sacked executive directors K V Brahmaji Rao and Sanjiv Sharan on January 18. The bank's board, however, had felt they had no criminal intent and it was a case of 'casual oversight'
The RBI governor-designate may be economical with spoken words, but is known for his sharp and critical writings
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
The group needs to rustle up Rs 5,000 crore in cash and an equal amount in bank guarantees for bail.
At ATMs, as a step to avoid getting Rs 2,000 notes, people are withdrawing Rs 1,900 in Rs 100 notes and then putting another request for the balance Rs 600, so that they remain within the limit of Rs 2,500 per day of withdrawal.
In an online chat with readers on October 14, Anil Rego answered their credit card queries.
A glance back at some of the important ups and down Indian Inc faced in 2018.
Innovative methods like transfer of funds through the RTGS banking system and concealment of currency wads inside car bonnets were detected by Election Commission as it took steps to curb the use of black money during the just-concluded Lok Sabha polls.
The broader markets, however, outperformed their larger peers.
Indian economy about to take-off
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances