These have always been pro-cyclical bets but new banks could erode RoEs.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
rediffGURU Nikunj Saraf suggests considering small-cap, mid-cap, and multi-cap mutual funds.
You can build your own retirement savings portfolio by investing in equity, hybrid and/or debt funds. Alternatively, you can also invest in retirement funds which provide asset allocation solutions for different investment needs and risk appetites, says Dwaipayan Bose
Kotak Mahindra Bank to have a 19.9% stake in the proposed banking venture.
Licence winners are expected to be announced by the first quarter of 2014.
The bank's overall exposure to the 40 select accounts referred by the Reserve Bank to be resolved under bankruptcy laws is Rs 15,229 crore
Opposition parties including Congress and Trinamool Congress on Wednesday joined ranks to slam the government for continuing restrictions on cash withdrawal from banks even after 90 days of demonetisation, saying Prime Minister Narendra Modi had said that hardships will last only 50 days.
The curious thing is that savings instruments have not really kept pace with changing needs, although people have access to a wider variety than before.
We are clearly focused on increasing our loan book in segments such as auto loans, home loans, commercial vehicles finance and corporate loans, says Chanda Kochhar.
The new return forms also make life easier for expatriates.
Syed Firdaus Ashraf/Rediff.com lists 11 Modi flagship schemes that may have been gamechangers in the Lok Sabha election.
For withdrawals through cheque, the weekly cap has been hiked to Rs 24,000 from Rs 20,000
In their election affidavits, Sonia Gandhi declared a 45 per cent drop in her income in 2017-18 compared to 2013-14, while Irani's income increased roughly an 80 per cent increase in her income in the same time span.
Voices from the Treasury are clamouring for lowering rates as this would boost demand.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
Radio frequency identification service by Bharti, SBI allows cashless buying.
The bank has received authorisation to collect funds for PPF at branches mandated by the ministry of finance, ICICI Bank said in a release in Mumbai on Friday.
The Income-Tax (I-T) department has issued around 8,000 notices to salaried employees, self-employed individuals, and companies who made significant donations to charitable trusts. The department suspects potential tax evasion, as records of these donations do not correspond with the income and expenses of those making them. Sandeep Bajaj, managing partner, PSL Advocates & Solicitors, says, "Notices were issued for donations made during the assessment years of 2017-18 through 2020-21."
Private lenders have also been expanding their branch and automate teller machine networks aggressively.
For banks, the package will limit the burden of provisioning for stressed loans. Besides, the proposed restructuring package for MSMEs with a credit of up to Rs 25 crore is expected to provide a breather to units from this sector.
Websites that compare product prices and offer cashback can help you get attractive deals and discounts.
Customers using e-commerce websites are young and techno-savvy.
The discrimination against girls reflects "mental illness", says PM.
Archit Gupta -- founder and CEO, ClearTax.com -- lists common mistakes and how to avoid them for filing a hassle-free income tax return.
The two countries will also account for almost half the global manufacturing investment.
The government on Tuesday night announced that Rs 500 and Rs 1,000 will be no longer legal tender after November 8, midnight. Here are the details you need know
Moreover, all her existing and future entitlements such as any unpaid amounts, unpaid bonuses or increments, unvested and vested and unexercised stock options, and medical benefits will be revoked.
The Bharatiya Janata Party rejected this was any sort of demonetisation and instead reminded the Congress that even during the rule of Manmohan Singh, old currency notes were taken off circulation.
Bank fixed deposits schemes, flexible rate deposit schemes, and sweep-in/sweep-out facility provide for higher interest rates compared to bank savings account and with the same degree of safety.
Under the stipulation, banks with cash deposits of Rs 10 lakh (Rs 1 million) and above in a year in any savings account maintained by a person would have to report under the Annual Information Return.
RuPay is working on how to increase offers to customers. It is also focused on technology innovation in the card payment system.
The Reserve Bank of India (RBI) has relaxed card-on-file data storage norms pertaining to guest transactions checkout, whereby now, apart from the card issuer and the card network, the merchant or its payment aggregator involved in the settlement of the transactions can save the data for a maximum of T+4 days or till the settlement date, whichever is earlier. And, acquiring banks have been permitted to store the card-on-file data until January 2023 for handing other post-transactions activities. The industry reached out to the RBI on the issue and sought a solution.
The Committee, which has been set up in pursuance of the announcement made by the Minister in his Budget speech, will also suggest whether the unclaimed deposit should come to government or be kept in a separate account.
Sharing a ride is likely to become a hot new trend.
'Given the worries about sluggish growth, rising interest rates and likely volatility, it's quite logical to infer that the SIP route could be the preferred way of investing.'
New guidelines by RBI on card usage will make it difficult for swindlers to dupe cardholders, but customers say security has come at the cost of convenience.
Help your children become responsible with finances
Retail customers of banks, who have to pay exorbitant charges and penalties for basic services and pre-payment of loans, are in for some good news. The Reserve Bank of India (RBI) is considering a ceiling on such charges.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
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