rediffGURU Chandu Nair advises entrepreneurs and enterprises about how to create and build their business.
The poor can't withdraw their money from their bank account and other Indians live in constant fear of their money getting stolen by unscrupulous hackers, says Syed Firdaus Ashraf.
In FY23, the State Bank of India (SBI) reported a 57.4 per cent jump in its net profit to Rs 55,684.17 crore. But the chairman of the country's largest bank, Dinesh Khara's annual pay for this creditable performance was just Rs 37 lakh (his peers at state-run banks are no better off). Look at his private bank rivals - most pocketed in excess of Rs 7 crore annually - plus stock options.
the three investors that have submitted their final bids are not commercial banks. Among the three, one is a non-banking financial company. Another distinctive feature of the revival is that PMC may lose its cooperative bank characteristic after its reconstruction.
MMID is a seven-digit number issued by your bank for transactions through mobile banking.
'This is for the first time home loan rates have dropped below 7 per cent,' notes Tamal Bandyopadhyay.
The govt has incentivised the worst of investment products.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
Indian fintechs and associated entities are hoping that the Union Budget 2024 will provide a boost and empower firms to extend their reach beyond Tier-II regions, with an emphasis on supporting enterprises led by women. The fintech industry, which has witnessed regulatory reforms over the last year, expects the Budget, scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1, will further encourage financial inclusion, empower micro-small-medium enterprises (MSMEs) with lending solutions, and push for upskilling initiatives for the country's young workforce.
Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market. Historical quarterly data from listed companies (excluding banks, finance and insurance, oil and gas, and power sectors) indicate an adverse correlation between corporate margins and crude oil prices.
As many as 75 million households that do not have access to banking services will be covered and at least one bank account opened for each household, against the earlier proposal of two.
Like everything else, the structure of banks may change, and banks may depend more on digital technologies and artificial intelligence for dealing with both their customers and employees.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The Pradhan Mantri Jan Dhan Yojana scheme will help eradicate poverty and curb corruption at the grassroot level, industry said.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Want your investments to make money as well as save tax for you? Anil Rego has some advice
After private banks - HDFC Bank and Axis bank - decided to charge own customers for more than five transactions at their ATMs, public sector lender Union Bank of India has also joined the bandwagon.
The returns from liquid funds, currently, look better than what savings accounts of leading banks are offering, points out Sarbajeet K Sen.
The methodology will be announced later this week.
If the interest rate on bank deposits is linked to any external benchmark, it would jeopardise the banks' fund-raising ability. Interest rates on small savings schemes are likely to be reduced very shortly, to maintain parity. All these steps would indeed affect retired people, and particularly those dependent on interest income, says Arindam Gupta.
ICICI Bank has raised its interest rates on non-resident external rupee savings account, NRE fixed deposits and foreign currency non-resident deposits.
Unlike in the past, when old private banks compromised upon underwriting standards to take on the bulk, they've now realised that scaling up at the cost of quality isn't worth the while. These banks have also readjusted growth targets when required, and rebalanced books to preserve capital and asset quality.
"The PMJDY has been the foundation stone for the Modi government's people-centric economic initiatives. "Whether it is direct benefit transfers, Covid-19 financial assistance, PM-KISAN, increased wages under MGNREGA, life and health insurance cover, the first step was to provide every adult with a bank account, which PMJDY has nearly completed," Nirmala Sitharaman said on the sixth anniversary of the scheme.
The second and final part of advocate Prashant Bhushan's interview with Sheela Bhatt/Rediff.com. Bhushan is one of the petitioners in the black money case in the Supreme Court
The second and final part of advocate Prashant Bhushan's interview with Sheela Bhatt/Rediff.com. Bhushan is one of the petitioners in the black money case in the Supreme Court
Led by the country's largest lender State Bank of India, banks have opened over 3 crore basic accounts within a fortnight of the launch of the scheme on August 28.
Finance ministry asks bank, insurance & market regulators to issue notifications
'Midcap and smallcap indices are trading in the expensive zone.'
'Put the assets of PMC Bank and the personal assets of the HDIL promoters and head of PMC Bank in an escrow account and ring-fence it from the ad hoc action of the revenue departments and creditors,' recommends Debashis Basu.
Filing your tax returns may seem like a lot of paperwork, but it is swift and smooth once you start with a clear plan, says Anil Rego.
The early bird results for the January-March quarter of 2022-23 (Q4FY23) show a pick-up in earnings growth, despite a slowdown in revenue growth, thanks to a decline in input costs and lower provisioning for bad loans by banks. The combined net profit of 66 companies that have, so far, declared their quarterly results was up 15.2 per cent year-on-year (YoY) in Q4FY23, an improvement from 4.3 per cent YoY growth in Q3. Net sales growth of these companies, however, slowed down to 11.5 per cent YoY in January-March 2023, the slowest rate in eight quarters.
Missing the deadline for filing Income Tax returns can lead to consequences.
The deadline for compliance expired in December, 2005. Though new accounts are KYC-compliant, getting the old ones up to date is expected to take two or three years.
The Jan-Dhan accounts are zero balance accounts, comes with a life cover of Rs 30,000 per person, and an accidental cover of Rs 100,000. An active user of the account can also get overdraft facility of Rs 5,000 from banks.
With over Rs 15,000 crore in deposits, its strategy is a hit for now, but the real test will come when it starts lending to retail and corporate customers in a big way
Bank of Baroda has relatively better position on impaired assets.
However, despite the reduction, their interest rates would be about 50-100 basis points higher than those of banks
Senior citizens should avoid putting their entire retirement corpus in SCSS.
SBI offers reward points for various types of banking transactions.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances