Reserve Bank of India (RBI) Deputy Governor Swaminathan J criticised some non-banking financial companies (NBFCs) for lax loan appraisal practices and charging excessive interest rates, even as he acknowledged the sector's rapid expansion over the past decade, especially in recent years. "Unfortunately, some NBFCs seem to believe they can operate with weak underwriting in the pursuit of fast growth while levying excessive and unsustainable interest rates - sometimes disguised as upfront or processing fees - followed by aggressive recovery methods in case of default," Swaminathan said at the conference of NBFCs in Chennai last month.
'About $8.5 billion in free cash, about $3 billion as annual debt refinancing, and $3 billion-4 billion in fresh borrowing. An additional $1.6 billion-1.8 billion will come from development profits in 2025-26.'
'...hesitate to support the risk-taking it requires.'
Panchayat Season 4 is watchable, mainly because of the wonderful actors, who, over the seasons have developed a warm rapport, notes Deepa Gahlot.
Speaking about the incident, Jain said only a portion of the house razed by junior civic engineers was illegal and its occupants had promised to remove the illegal part.
'Listen to the voice in your head and keep your inner sanctum safe.'
Visuals from the building in Sector 13 area showed flames and thick smoke billowing out.
There are challenges galore before him, and it is not going to be easy. In the next four years, he has to conjure a system that changes the optics about him and the BJP both nationally and internationally so that he can ride back on his own, claim the top slot, and not have to lean on a coalition, asserts Ramesh Menon as Modi 3.0 completes a year in power.
A major fire broke out at the Enforcement Directorate's office building in south Mumbai in the early hours of Sunday. The fire started on the fourth floor of the five-storey building and raged for hours before being brought under control. Authorities believe a short circuit caused the fire, resulting in damage to furniture, cupboards, and electric installations. While there were no casualties, several documents and equipment inside the office are feared to have been damaged.
Acharya Jonas Masetti, a Vedanta scholar from Brazil, was awarded the Padma Shri for teaching the Vedas, the Bhagavad Gita, Sanskrit, Yoga, Meditation and Indian spiritualism abroad.
Prime Minister Narendra Modi inaugurated the Pamban sea bridge, providing rail link between Rameswaram island and the mainland and flagged off the new Rameswaram-Tambaram (Chennai) train service. The bridge is India's first vertical sea-lift bridge, spanning 2.08 kilometers, and includes a 72.5-meter-long vertical lift span that can be raised up to 17 meters, allowing the smooth passage of large ships while ensuring seamless train operations. Built at a cost of over Rs 550 crore, the bridge features stainless steel reinforcement, high-grade paint, and fully welded joints, enhancing durability while reducing maintenance requirements. The bridge is a remarkable blend of tradition and technology.
The government aims to initiate "transformative reforms" across six domains, including taxation and financial sector, in Union Budget 2025-26, Finance Minister Nirmala Sitharaman said on Saturday.
In a double-dose bid to boost growth and employment prospects, the Union Cabinet on Tuesday approved a Rs 2.07 trillion outlay for a research development and innovation (RDI) Scheme to fund private sector innovations, and an employment-linked incentive (ELI) to create over 35 million new jobs over the next two years.
By democratising access to finance, empowering women and marginalised groups, and adapting to India's diverse regional landscapes, PMMY has helped fortify the country's grassroots growth engines, says Chief Economic Advisor to the Government of India, V Anantha Nageswaran.
Tenants should primarily buy contents insurance. 'This covers personal belongings like electronics, furniture, clothes, and appliances against risks such as fire, theft, floods, and other natural calamities.
Here is a list of items set to become cheaper and costlier.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
To enable Indian banks and financial institutions to develop an aircraft-leasing ecosystem at GIFT City, the Ministry of Civil Aviation has sought support from the Ministry of Finance. It has also raised concern over slow progress in developing aircraft leasing in India.
China supplied more than $20 billion worth of arms to Pakistan. These include 20 J-10CE and JF-17 Block III fighter aircraft, Wing Loong drones, frigates, submarines, Hongqi HQ-9P surface-to-air missiles, 240 PL-15E air-to-air missiles, LY-80 air defence systems, ZDK early warning aircraft and other weapons.
Delhi International Airport Limited (DIAL), which operates India's largest airport, dismissed the expert committee report as "inaccurate", claiming it relied on "probabilities, hypothesis, and conjectures" rather than empirical data or complete documentation.
'We are not asking for incentives, but at least taxation can be aligned such that the rupee tax on consumers remains the same.'
The visitor returns not just with the jewel-like beauty of the country imprinted on the mind, the body rejuvenated by hot stone massages, but also with the captivating stories and myths that are built into every important structure -- whether a tourist magnet or an off-the-beaten track spot.
The Bullet Train project between Mumbai and Ahmedabad has achieved significant progress with the completion of 386 km of pier foundation and 272 km of viaduct. Track laying is expected to begin soon as all other infrastructure work is ready.
Twice every 12 days, the NISAR satellite will scan nearly all of earth's land and ice surfaces to measure changes in the planet's ecosystems, growth and retreat of its land and sea ice, and deformation of its crust.
The reopening of the Ratna Bhandar became a major political issue during the recently held assembly elections in the state.
The BJP registered emphatic victories in seven municipal corporations in Haryana, while its nominees were leading in two other civic bodies in the recently held elections. The Congress, which was hoping to improve its electoral fortunes after a defeat in the 2024 Assembly polls, suffered another setback. The BJP candidates won with large margins in Faridabad, Gurugram, Hisar, Karnal, Rohtak, Sonipat, and Ambala. The BJP was also leading in Yamunanagar and Panipat. In Manesar, an Independent candidate, Inderjeet Yadav, won the mayoral election. The results are seen as a major setback for the Congress, which has been facing internal turmoil and factionalism.
The death of a young pilot and three fighter jet crashes prompt the question -- should there be more simulation training?
'That is why I'm extremely concerned when India says that every terrorist incident in future from Pakistan will be treated as an act of war.'
'In a world which is full of categories, hatred and ideologies, there was this basic decency.'
The wall collapsed on the Rs 300 ticket queue line near the shopping complex on the ghat road from Simhagiri Bus Stand at around 3 am. Heavy overnight rains and strong winds are suspected to have loosened the soil, causing the structure to fall, Anitha told reporters.
A team of experts involved in rescuing eight people trapped in a partially collapsed tunnel in Telangana have reached the end of the tunnel, but debris is hindering further progress. The rescue operation, described as one of the most complex in the world, continues with experts from the Indian Army, Navy, NDRF, and GSI working tirelessly to find a breakthrough. Despite continuous efforts and oxygen pumping, there has been no contact with the trapped individuals.
Eden Gardens' pitch and the outfield areas remained totally unaffected from the Amphan, one of the worst cyclones to hit the city in decades.
Dealers said the discounts this March are higher than the same month in the previous year.
Australia's new student visa rules focuses on stricter eligibility, higher financial and English language requirements among others.
Nine persons were still feared trapped under the debris of the structure which collapsed at 1.45 pm on Saturday at Wardhaman Compound in Valpada area, they said, adding that search and rescue operations were on.
16 missing, 150,000 evacuated, 70,000 without power.
rediffGURU Rohit Gupta, co-founder and COO of College Vidya, provides a list of competitive exams that can help you land a job in the public sector.
The Delhi airport, the country's busiest airport, on Friday early morning witnessed the collapse of a roof at Terminal 1 amid heavy rains that killed one person, prompting the government to order a detailed probe and an inspection of the structural strength of all airports.
While growth in India is largely domestic and hence the overall GDP effect may not be more than 0.15-0.2%, but overall trade will be impacted due to every country going back to the drawing board, points out Madan Sabnavis.
The ground floor of the structure was used as a shop and the upper floor as residence, an official said.
