Paytm app users will continue to use all services like mobile and DTH recharges except for Paytm Payments Bank's offerings including wallet funds, Fastag and bank accounts, according to the company hit by RBI restrictions. Paytm Payments Bank users will not be able to add any funds to their wallet and bank accounts but will be able to use the balance until it is exhausted, according to the RBI order. "The RBI has issued a directive restricting Paytm Payments Bank account/wallet from accepting new deposits or allowing credit transactions after March 15, 2024.
The spike at private sector lenders like ICICI Bank and Axis Bank follows a push to grab market share from India's dominant state banks.
'Focus will be on smaller loan amounts to meet the needs of affordable homebuyers.'
Prime Minister Narendra Modi and Congress leaders Sonia Gandhi and Mallikarjun Kharge were among the top leaders who paid homage to former prime minister Manmohan Singh at his home in New Delhi on Friday.
For Yogi Adityanath the successful management of the fair is a crucial part of building 'Brand UP' and making the state a $1 trillion economy.
According to experts, 'Lakshmi' and the logo 'Godesses Lakshmi' have a lot of value in India and are the biggest driver for the Bank. Retaining the Lakshmi name and logo will help DBS.
Despite the Bharatiya Janata Party-led National Democratic Alliance throwing all its weight to snatch Jharkhand from the hands of a Jharkhand Mukti Morcha-headed coalition, the saffron camp suffered a debacle leaving the party's rank and file wondering what had gone wrong.
Many senior citizens 'underestimate the impact of inflation, taxation, health-related expenses, and the heavy premium they will have to pay on health insurance.'
The finance minister, in her Budget speech, should focus more on what she is directly responsible for, rather than on programmes where her role is largely supportive, notes Nitin Desai.
Over 100 Indian immigrants, including 33 each from Haryana and Gujarat, 30 from Punjab, and several from other states, were deported from the US after undertaking perilous journeys filled with extortion and hardship. The returnees landed in Amritsar in a US military plane and are now back home, facing huge debts and emotional trauma. Many of them were lured by promises of a better life in the US but fell victim to human trafficking and extortion rings. The families of the deportees are demanding strict action against the travel agents who facilitated their illegal journeys.
'Regardless of whether you invest Rs 100 or Rs 1 crore per month, risk is inevitable.' 'Positive returns at the end of the year can never be guaranteed.' 'This is a fundamental truth every SIP investor must grasp.'
India will soon allow corporate houses to open banks despite misgivings within the RBI.
'Some of the astounding proposals, if translated into statutory provisions, would be suicidal.' 'This would not be a wonder cure for increasing insurance penetration and only result in mushrooming growth of players like paan kiosks with deleterious consequences.'
Air India has leased a fleet of six Airbus A320 neo aircraft from CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co Limited, to boost the Tata Group-owned company's transformation journey, a statement said on Wednesday. The leasing agreement was signed on the sidelines of the Airline Economics Growth Frontiers Asia Pacific 2022 conference, said the CDB Asia statement. CDB Aviation is among the first aircraft leasing companies to secure the placement of Air India's additional A320 neo aircraft under the recently announced multi-stage transformation plan since the purchase of the airline by Tata group, which aims to increase the carrier's fleet and help it boost both domestic and international operations.
Temperatures in 17 locations breached 45 degrees Celsius on Monday, with the punishing heat affecting health and livelihoods.
US short-seller Hindenburg Research had shared an advance copy of its damning report against Adani group with New York-based hedge fund manager Mark Kingdon about two months before publishing it and profited from a deal to share spoils from share price movement, according to market regulator Sebi. The Securities and Exchange Board of India (Sebi), in its 46-page show cause notice to Hindenburg, detailed how the US short seller, the New York hedge fund and a broker tied to Kotak Mahindra Bank benefited from the over USD 150 billion routs in the market value of Adani group's 10 listed firms post-publication of the report.
'I wonder if they will keep it up after the elections.' 'I fear they'll start questioning eligibility -- income, age, bank accounts -- and eventually stop the scheme altogether.'
SBI Q3FY24 result review: A higher-than-factored weakness in the October-to-December quarter (Q3) results of State Bank of India (SBI), for financial year 2023-24 (FY24), has prompted brokerages to cut earnings estimates for the ongoing financial year. They, however, have maintained 'Buy' ratings on the stock, revising target price upwards in some cases, owing to the stock's recent underperformance relative to its peers.
Do not keep a large portion of your long-term portfolio in FDs.
A freebie once granted can hardly be discontinued. All that can happen is to substitute it with a bigger freebie, notes A K Bhattacharya.
New investors should gradually build a 5 to 10 per cent allocation to gold.
A combination of factors, including heavy investments in US Treasury bonds and dollar sales at a healthy profit, facilitated the Indian central bank in transferring a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24). The RBI's dollar purchases increased in FY24, supported by robust capital inflows endorsing the economy's health.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
President-elect Donald Trump urged his supporters to donate to Democrats to help them overcome the 'financial strain' in the aftermath of the general elections.
A bank employee from Rajasthan was shot dead on Thursday by terrorists in Kulgam district of Jammu and Kashmir, officials said.
IPOs worth Rs 50,000 crore including Hyundai, NTPC Green Energy and Swiggy are set to hit the market in late October or early November.
The Reserve Bank on Monday superseded the boards of Srei Infrastructure Finance as well as Srei Equipment Finance, citing concerns over governance and payment defaults, and decided to refer the two NBFCs for resolution under the insolvency law. This is only the second time in as many years that the Reserve Bank of India (RBI) is referring entities for the resolution process under the Insolvency and Bankruptcy Code (IBC) after taking first ever such step in the case of DHFL back in 2019. Superseding the boards of the crisis-hit Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL), the RBI has appointed Rajneesh Sharma, former Chief General Manager of Bank of Baroda as the administrator to manage the affairs of the two companies.
The top court took note of the submissions of some aspirants that a question related to an "atom" and its characteristics had two correct answers and a set of examinees, who gave one particular answer out of the two correct ones, were awarded four marks.
Markets regulator Sebi has ordered the attachment of bank accounts and shares and mutual fund holdings of fugitive businessman Mehul Choksi to recover dues totalling Rs 5.35 crore. The latest decision has been taken after Choksi failed to pay the fine imposed on him in October 2022 by Sebi in a case pertaining to indulging in fraudulent trading in the shares of Gitanjali Gems Ltd. Choksi, who was the chairman and managing director as well as part of the promoter group of Gitanjali Gems, is the maternal uncle of Nirav Modi, both of whom are facing charges of defrauding state-owned Punjab National Bank (PNB) of more than Rs 14,000 crore.
Trumponomics, poor growth, and high valuation certainly don't make a bullish recipe for Indian markets, warns Debashis Basu.
For Indian parents, sending a child abroad for a three-year degree could deplete 48% of their retirement savings, while a four-year degree may consume up to 64%.
'Over the next 12 months, it will be difficult to make 15 to 20 per cent return in the markets as the valuations appear stretched.'
SBI comes second and Bharti Airtel is third
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.
Finance Minister Nirmala Sitharaman on Wednesday said the Union Budget strikes a fine balance between growth, employment, and fiscal consolidation, and promotes cooperative federalism. Replying to the discussion on the Union Budget 2024-25 and Union Territory of Jammu and Kashmir Budget in Rajya Sabha, the minister said the government is on track to achieve the pre-announced fiscal deficit target of 4.5 per cent by 2025-26. Sitharaman, also a former defence minister, said the Agniveer Scheme to recruit people in the age group of 17.5 to 21 years, is aimed at keeping the armed forces fit, young and battle-ready.
We'll need to wait a couple of years to see how many restructured loans turn bad and whether some banks fall victim to their obsession for growth, explains Tamal Bandyopadhyay.
On February 22, 2013, the Reserve Bank of India issued guidelines on 'Licensing of New Banks in the Private Sector'.
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
Voters, it is said, get the government they deserve. We will soon see what voters in Maharashtra choose. Till then, a sense of helplessness and scepticism hangs in the air, notes Ramesh Menon.
Is it is necessary to play divisive politics to succeed in the next general elections? asks Dr Sudhir Bisht.
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