The five warmest years in Indian weather history have occurred in the past 14 years -- the others being 2009, 2017 and 2010, in order of intensity.
They have cited higher capital for bad-loan provisioning, pending legislative amendments, and delay in finalising rules by the Reserve Bank of India (RBI) as some of the reasons.
The point made by sociologist M N Srinivas, that it represented a Sanskritic act that was linked to caste, is never raised in Indian debates and the disapproval of drink is almost universal, notes Aakar Patel.
In August, RBI allowed 11 business houses to start a payments bank.
'Clients deemed higher-risk are required to update their KYC more frequently.'
Only investors with a higher risk appetite should enter these funds.
'The revenue projection arises out of all sectors doing well and the formalisation of the economy helps in making sure the tax domain gets widened.'
We are, therefore, setting up more branches in more tertiary terms, like tier 2 and tier 3 terms. Going forward, that is where the growth will come.
For the near term, Gill will have to improve relations with the Reserve Bank of India, which have been strained in recent times. He will also need to strengthen the bank's asset quality and improve governance standards and internal processes.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
'Banks are being encouraged to lend instead of parking their resources with the RBI and earn risk-free interest income,' points out Tamal Bandyopadhyay.
'Election funding needs a little more transparency.'
Banks feel happy shifting their toxic assets from loan books to investment books while the ARCs enjoy the management fees with a smile, observes Tamal Bandyopadhyay.
Amid the rhythmic chug of the train, a chorus of voices rises, each bearing its tale of hope and despair.
The tax authorities may tell banks and crypto exchanges to report transactions of virtual digital assets (VDAs) as the government begins taxing gains from cryptocurrencies and non-fungible tokens from April 1. So far, the tax department has relied on voluntary disclosures on transactions of VDAs. Once implemented, the sale and purchase of digital assets will reflect in the Annual Information Statement (AIS). The AIS contains details of at least 46 of the financial transactions done by a taxpayer in a financial year.
'.. if you do not want to take the asset allocation call.'' 'This category of funds can offer optimum risk-adjusted returns.'
'Valuations of midcaps and smallcaps have reached very high levels, and hence to that extent leave little margin of safety.'
The fine was imposed in the exercise of powers vested in the RBI under the provisions of Section 47 A (1) (b) of the Banking Regulation Act, 1949.
'This is not just the IREDA's IPO. It is the success of the ministry of new and renewable energy and of the renewable energy industry.'
It's not just the way Asian Games silver medallist Harmilan Bains runs, what she wears too speaks volumes about her self-confidence.
Each of the larger states may need less than Rs 10,000 crore each to finance the exercise.
How much will the banks' bad assets grow in March? It could be anywhere between Rs 1.2 trillion and Rs 2 trillion, observes Tamal Bandyopadhyay.
SBI's ownership should give confidence to depositors and lenders about the bank's solvency.
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
Food delivery major Swiggy has received approval from its shareholders for a $1.25 billion initial public offering (IPO), according to filings made with the Registrar of Companies sourced by Tofler. The Bengaluru-based firm plans to raise as much as Rs 3,750 crore (around $450 million) via a fresh issue and up to Rs 6,664 crore (around $800 million) through an offer-for-sale (OFS) component, the filings stated.
'We're putting a lot of focus on GenAI developers and people who can really do all the architecture and programming.'
Consumer goods firms and auto companies are witnessing an upturn in rural demand, which had been lagging for most of FY24. Expectations of a bumper rabi crop harvest have helped turn the tide. The Reserve Bank of India's (RBI's) Monetary Policy Committee kept the repo rate unchanged last week, noting that as rural demand catches up, consumption is expected to support economic growth in 2024-25.
Banks are in the process of getting a board-approved restructuring framework in line with the RBI's framework and eligibility defined by the central bank.
It is difficult to say if the banking sector will see the worst behind it by March 2020, warns Tamal Bandyopadhyay.
'India's emergence as a top crypto market comes despite a regulatory and tax environment that can be challenging for the industry to navigate.'
As the new Tax Collection at Source (TCS) on foreign remittances is set to become applicable from October 1, travel agents' body TAAI has made a last-minute plea to the government, urging them to abolish the decision or defer its implementation until the next fiscal year to allow discussions on overseas tour packages. The government has raised the TCS on foreign remittances under the Liberalised Remittance Scheme (LRS) from 5 per cent to 20 per cent. This will be applicable to international travel, sending money abroad and other remittances.
Bank unions - officers and workmen - had buried their differences and sat across the table on August 29 to work out a fresh deal with the IBA involving a 20 per cent wage hike.
Households may be feeling the pinch of higher inflation but corporate India is enjoying record high margins and profits. The combined quarterly net profit of listed companies scaled a new high in the April-June 2023 quarter owing to a sharp rise in operating and net profit. The expansion in margins more than compensated for the slowdown in revenue growth, which slipped into single digits in Q1FY24 after a gap of nine quarters.
'There is a need for an innovation sandbox where the PSBs can collaborate and then they can do their own innovation on top of it.'
Private lender Tamilnad Mercantile Bank's (TMB) is planning an Initial Public Offering ( IPO) of about Rs 1,000 crore by November-December 2021. The IPO will involve combination of fresh capital plus sale of existing shares. The shareholders of the unlisted South-based private bank have already given nod for IPO.
Deutsche India, which houses the largest technology centre of German investment bank Deutsche Bank, is expanding its operations in India and hiring thousands. "Since January 2023, we have hired more than 2,500 people for Deutsche India and expect a positive trend to continue for the rest of 2023," Dilipkumar Khandelwal, chief executive officer of Deutsche India and Global Head of Technology Centers told 'Business Standard'. "We will continue to hire in the similar range even for the next year." Deutsche India has about 16,000 employees in the country and most of them are engineers.
'We have a plan to plough back a 'This year in the first half we had profits of more than Rs 31,000 crore.' significant amount of profits this financial year.' 'We have seen this organic plough back of profit is one of best ways to support the equity of the bank.'
Dear Finance Minister, We don't expect magic, just a little understanding and some tax relief that feels like a real reward, not a bare minimum. A little extra fuel in our wallets could go a long way, pleads Vatsal Ramaiya
ICICI's board has denied any wrongdoing, highlighting that the loan was underwritten in accordance with the bank's credit standards and was extended as part of a consortium involving over 20 banks.
