In the excitement over the allocation of bank licences for the private sector, a new category of licence offered by the Reserve Bank of India (RBI) last year went almost unnoticed. That was when the RBI consolidated the rules for prepaid payment instruments (PPI), popularly understood as e-wallets or gift cards. In the process, the regulator has fast-forwarded a bottom-up card usage industry in India that is completely different from the world of bank-linked credit and debit cards.
Do you suspect that your partner is cheating on you and want to find out the truth by installing spyware on their phone? Or, perhaps you are a student who wants to get out of an online classroom so you can play an online game with friends? How about some Zoom raiding for a mere Rs 50-100? Or, are you a person who wishes to hack into someone's phone or laptop, and steal their financial details? Crimeware-as-a-Service (CaaS) allows you to do all this and more.
With a sole mandate of inflation targeting, RBI wears many hats.
Make in India right now is just a slogan. The policy content is missing or not clearly articulated. The lion with cogs and wheels must now show some majestic movement forward, says Rahul Khullar.
'Public sector banks are like an extended arm of the government.' 'They rush to rescue certain sectors or they rush to invest in certain sectors to prop up the economy which the private banks don't.'
NCP spokesperson and Maharashtra minister Nawab Malik said that AICC general secretary H K Patil was told about this scheduled meeting when he and other Congress leaders met Pawar in Mumbai recently.
'The slide in growth has arisen primarily because we have an NBFC crisis on top of a banking crisis,' points out T T Ram Mohan.
'When the average growth in the last three years was just 2.5%, how does that make us the fastest growing country?' 'They only tell you what has happened in the last 2 years; they are not taking into account what happened in FY21 on account of their mistakes.'
SBI had a tough journey in the last 40 years.
In webcast address to India, Microsoft CEO says Azure seeing 'incredible' momentum here, with technology adaption racing in unprecedented ways.
Fintechs need to behave with responsibility and transparency. A lot of mis-selling has been happening. Other issues have been plaguing the fledgling industry -- high interest rates, even higher processing fees, harsh collection process and, most critically, data leakage leading to rampant frauds, points out Tamal Bandyopadhyay.
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Privatising public sector companies would have encountered significant opposition from their managers as well as from strong unions.
Adapting to an inevitable digital intervention is India's only hope at beating a long-standing job crisis. To do so, focus on quality education and better skill development is fundamental, says Dr Yogesh Kumar Bhatt.
While weather forecasters remain divided on how the monsoons will play out in India over the next few months, analysts believe the news at the current juncture - at best - can trigger a knee-jerk reaction in the markets. They believe it is too early to say whether the sub-par monsoon on account of El Nino can seriously dent the market sentiment in the short-to-medium term. "These are just initial forecasts and we will have another round / status update from the weather forecasters a month down the line.
Entrepreneurs, however, say they are unsure when the many obstacles in India will be cleared.
'We are in the middle of an unprecedented SIP revolution.' 'Monthly inflow through SIPs will be Rs 15,000 crore to Rs 20,000 crore soon.' 'Traditional avenues of Indian savings like bank fixed deposits, gold or real estate are no longer attractive to invest.'
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
Had Finance Minister Sitharaman thought a little more about the middle class, disadvantaged sections, and the poor who are struggling, it would have been an inclusive Budget that would have made history, notes Ramesh Menon.
Tight liquidity will hit over-leveraged and cash-hungry companies, spare conservative ones
Apart from fulfilling banking services, one can access more than 100 e-commerce sites, book tickets, and even pay for small value groceries through the app. The bank is now proposing to allow other banks to use this to serve their own customers.
Like on Pegasus, like Covid, there have been no answers from the government about why the situation on the economy and India's future is where it is today, notes Aakar Patel.
'It really doesn't matter that investors getting allotments sell their IPO stock holdings on listing day because a new set of investors are entering.' 'This explains the continued rise in stock prices even after the first day of listing.'
Flipkart Group on Monday said it has raised $3.6 billion (about Rs 26,805.6 crore) in funding led by GIC, Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2 and Walmart, valuing the e-commerce giant at $37.6 billion. The company, which competes with Amazon, Reliance Industries' JioMart and others in the burgeoning Indian e-commerce market, said it will continue to make deeper investments across people, technology, supply chain and infrastructure to address the requirements of a rapidly growing consumer base in the country. The current funding round has also seen participation from sovereign funds DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad as well as marquee investors Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global.
The zones, says Panagariya, would have to be set up near deep-draft ports, capable of accommodating very large and heavily loaded ships
Reliance Industries Ltd (RIL) was the star performer in Friday's session, spurting over 6 per cent to its all-time high, Other Sensex gainers included Bajaj Finance, PowerGrid, ICICI Bank, Maruti, Axis Bank and SBI. On the other hand, IndusInd Bank, HCL Tech, ITC, M&M HDFC and Infosys shed up to 2.94 per cent.
Though COVID-19 will wreak more damage to the finances of the Indian population, the insurance sector is unlikely to get hurt.
If credit card delinquency spells trouble, there may be questions with regard to the much bigger retail sub-categories of car and housing loans, notes T N Ninan.
In India post the success of masala and green bonds on the LSE, Nikhil Rathi tells Rajesh Bhayani that there are many international investors interested in buying into the India story
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Did you know that women can avail for a loan of upto Rs 20 crores to set up a manufacturing business?
The background work of creating a suitable digital architecture of a website also remains unfinished as it has been a challenge to shortlist technology partners.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
If you are running a sweetmeat shop, will you manage a dairy for milk supply or buy milk from the market? Banks are running a dairy (which has its cost for processing milk), while NBFCs are buying milk from the market, observes Tamal Bandyopadhyay.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
The McKinsey report said faster employment growth at 12 million non-farm jobs annually is needed in the post-Covid period till 2029-30, up from just four million created each year between 2012 and 2018.
Live commerce, quick commerce, group buying, WhatsApp commerce, dukaantech have made their mark.
While most economies contracted in the second quarter of 2020, the Chinese economy grew by 3.2 per cent.
Falling sales since demonetisation has alarmed CEOs, who want to save cash till the economy recovers.
The economists, who were surveyed, also felt it will take time for banks to make any further reduction in deposit rates
Jharkhand Chief Minister Arjun Munda on Monday said his government has a long-term plan to make the state the country's 'auto component hub.'
