Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
Many banks' profits will take a hit and a few of them could even end up being in the red because of treasury losses, triggered by a sudden spike in government bond yields in the rising interest rate cycle, notes Tamal Bandyopadhyay.
'INDIA will easily cross 50 seats out of 90 in Jammu and Kashmir.'
The finance ministry expects a broad-based moderation in inflationary pressures on the back of an anticipated reduction in food prices as a result of the uptick in summer sowing. The retail inflation rate remained stubbornly clung to the 5 per cent mark in seven of the past eight months. "Core inflation is trending downwards, indicating a broad-based moderation in price pressures... Driven by strong domestic growth and benign global commodity prices, core inflation is declining continuously.
If you are have an account with State Bank of India, HDFC Bank or Axis Bank you will have to pay higher charges for using ATM more than five times a month.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
Employees across segments, including those involved in specialised jobs such as technology, compliance and risk management, have started leaving the bank fold in hordes, observes Tamal Bandyopadhyay.
Wipro will be implementing the core banking solution for Paytm.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
The National Pension System (NPS) added 21.5 per cent fewer fresh subscribers under the corporate segment in 2023 compared to the preceding year. Government officials and experts attribute it to the higher exemption limit of income tax of Rs 7 lakh announced in the FY24 Budget that no more requires employees under this income bracket to opt for NPS for tax-saving purposes. Data collated from the Ministry of Statistics and Programme Implementation (MoSPI) reveals that the corporate component is voluntary in nature and saw 158,212 new subscribers in 2023 compared to 201,517 during 2022.
The Kolkata-based firm already has a presence in 22 states with over 2,000 branches and 5.9 million borrowers.
Branch networks will give preference to pensioners and labourers for withdrawing money.
A prudent guideline for self-employed individuals is to target at least 10 to 15 times their actual annual income when determining life insurance coverage.
Ramoji Rao lived as the interface between business and politics and was an active participant in both for most of his remarkable life.
Priyadarshini Maji evaluates the impact that payment banks are likely to have on your financial life.
A five-judge Constitution bench headed by Chief Justice D Y Chandrachud, which was hearing an application filed by the Election Commission (EC) seeking a modification of the operative portion of its March 11 order in the electoral bonds case, directed its registrar (judicial) to ensure that the data filed earlier by the poll panel before it in a sealed cover be scanned and digitised.
Any bank account suspected to have been "misused" for money laundering or shell company operations won't be exempted from probe under 'Operation Clean Money' despite having low deposits, the CBDT said on Tuesday.
The correlation between withdrawal of deposits and the Covid death rate is stark, reveals Tamal Bandyopadhyay.
After providing for regular income, invest both in debt and equity options
A bench headed by Chief Justice D Y Chandrachud took note of the submissions of senior advocate Kapil Sibal, appearing for Thackeray, and sought response of the faction led by Maharashtra Chief Minister Shinde.
Equity-linked savings scheme, PPF and Sukanya Samriddhi Yojana are recommended instruments.
As per the complaint, cash worth more than Rs 1.5 crore, whose audit for withdrawal and expenditure remained unclear, has been recovered during the probe.
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.
Panel has recommended that banks give an option to open a plain savings account, without mandating a minimum balance.
'The barbell strategy says that the best way to strike a balance between risk and reward is to invest at the extremes of the risk spectrum.'
'It has also saved the government about $ 9 billion in fraud and wastage because by having that unique number you eliminate fakes and duplicates from your beneficiary and employee list,' Nilekani said at an event on the sidelines of the annual meeting of the International Monetary Fund and the World Bank.
For people at the bottom of the pyramid, which I would rather address as mass market or emerging class; the primary challenge in accessing banking services are not just affordability but applicability and accessibility of services.
As unified payments interface gets popular, cash transactions will come down as most small payments will be routed through this.
Gadkari, who handles key infrastructure-related portfolios, said there is no problem with the road sector at present and money is not an issue anymore.
Vijay Mallya, who faces prosecution in India, is reportedly in London.
Dwaipayan Bose simplifies the whys and hows of revisiting your financial goals
The BJP had registered a one-sided victory on all the 17 SC-reserved seats in the 2014 Lok Sabha elections. But in 2019, out of these 17 seats, it lost Nagina and Lalganj seats to the Bahujan Samaj Party.
Not far behind is Himachal Pradesh Cricket Association (HPCA), who requested for funds to organise fourth India vs Australia Test, starting March 25, despite having Rs 65 crore plus in the association's bank account.
'It has been an ongoing process, talking to the relevant ministries about eliminating leakages and curbing non-core expenditure in various schemes.'
Work fetches money and that is what keeps us going. But how about money fetching more money? We plan to give you what you need to get started.
The new amendment, which came into force on April 21, has been introduced to detect discrepancies between the expenses and incomes of people who do not have to file tax returns.
Are you a first-time IPO investor? Even if IPOs appear attractive with expectations of high returns, they come with risks and complexities, cautions Sheetal Jhaveri and shares her checklist to help you navigate through the world of IPOs
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
Tax rules that could land you in trouble
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