The Reserve Bank of India (RBI) has decided "in principle" to bring under its regulatory ambit holding companies floated by business groups and companies that also own non-banking finance companies (NBFC).
'At the heart of the strategic relationship between our countries are economic ties.'
The Reserve Bank has given time till November 30 to banks and NBFCs to put in place a mechanism to ensure that existing digital loans are in compliance with the modified norms aimed at protecting the interest of customers. Last month, the central bank tightened norms for 'digital lending' to prevent charging of exorbitant interest rates by certain entities and also check unethical loan recovery practices. In a circular, the RBI said outsourcing arrangements entered by Regulated Entities (REs) with a Lending Service Provider (LSP)/ Digital Lending App (DLA) do not diminish the REs' obligations and they shall continue to conform to the extant guidelines on outsourcing.
The Lok Sabha elections in 2024 are not a consideration when it comes to monetary policymaking, said Reserve Bank of India governor Shaktikanta Das to underscore the central bank's commitment to controlling inflation. "It's not possible for me to comment what we do in the next MPC (Monetary Policy Committee), but one thing I can tell and I would like to make it very clear-that the fact of elections coming up in 2024 is not a factor at all so far as monetary policymaking is concerned. "Monetary policymaking is for checking (and) controlling inflation," Das said at the Business Standard, BFSI Insight Summit.
Many films and shows go back in time to bring alive so many fading and forgotten memories.
There are millions of taxpayers, all of whom are susceptible to this frustrating situation.
'India is an equity market with a breadth and depth of companies to invest in.'
It is going to be a long-term proposition for India -- which has a decades-old relationship with Moscow -- to reorient its foreign policy away from Russia, the US has said, insisting that re-aligning one's approach is not like flipping a light switch.
State Bank of India's earnings growth may turn lacklustre in the near-term, warn analysts. This, they said, could be due to margin compression and likely lower fee income over the next one year. "While the cost of deposits is repricing sharply across the system, there will be relatively lower yield expansion going ahead as most of the back-book has been repriced and there is a high competitive pressure on yields.
India scripted history as the ambitious third Moon mission of the Indian Space Research Organisation (ISRO) touched down on the Moon's south pole, propelling the country to an exclusive club of four and making it the first nation to land on the uncharted surface.
Upcoming payment banks will lift lower income groups in distant villages.
The failure to restructure our armed forces in line with contemporary needs 14 years after the Kargil war will impose strategic costs beyond just delays and scandals, says Nitin Pai
The recent report in the New York Times that China had brought India's financial capital - Mumbai - to a halt by hacking the electricity supply grid has not come as a surprise to the CTOs (chief technology officers) and cyber security experts. Indian companies, including critical infrastructure providers such as power grids, ports and radar systems, lack the IT infrastructure to prevent hacking from hostile state actors like China and North Korea, warn security experts. Recently, the United States government warned of yet another breach of critical systems tied to Microsoft Exchange email systems that the company has blamed on China. The breach has impacted thousands of organisations in the US and its impact on India is still unknown.
The jewel-encrusted Topkapi dagger and the enormous Spoonmaker's Diamond set amongst two more rows of diamonds were truly gape-worthy!, Letika Saran tells us after a fascinating encounter with Istanbul.
British Prime Minister Boris Johnson, who landed in Ahmedabad on Thursday morning on a two-day India visit, was accorded a grand welcome at the airport in Ahmedabad. Soon after, he visited Sabarmati Ashram in the company of Gujarat Chief Minister Bhupesh Patel.
Blinken will also attend a meeting of the foreign ministers of the Quad grouping and will hold bilateral talks with his Indian counterpart S Jaishankar in Delhi.
'The Indian economy and the Indian financial sector today remain resilient and much better placed.'
'While we have done a few thousand kilometres in India, most of the testing and data collection and analysis has been done in the US, Japan and Europe.'
The challenge is to enhance opportunities for people to generate livelihoods through entrepreneurship, both big and small, argues R Jagannathan.
Tata Group is in discussions with some major international companies, including those from Taiwan, for its foray into the semiconductor chip business. The Union government had earlier tried to bring in Taiwanese manufacturers Taiwan Semiconductor Manufacturing Company (TSMC) and United Microelectronics Corporation (UMC) for chip manufacturing in India. A person close to the development said the Tatas have now opened a separate channel for a possible tie-up. Currently, India mostly imports chips, which are fabricated and assembled to put into various applications, including automobiles, renewable power, mobile phones, televisions, and other electronic items.
Kerala Governor Arif Mohammed Khan, Chief Minister Pinarayi Vijayan and Congress MP Shashi Tharoor were also present with the PM as he interacted with the students inside the train.
White House Press Secretary Karine Jean-Pierre said the upcoming visit will affirm the deep and close partnership between the United States and India.
Unfortunately, in India, infrastructure projects are lost in a miasma of political and personal vanity, observes Shyam G Menon.
Former Arsenal manager and world governing body FIFA's current chief of global football development, Arsene Wenger will play a role in Indian football's grassroots programmes and talent development.
In a multi-city protest on Monday, a large number of company secretaries (CS) and chartered accountants (CAs) came together to seek extension of the deadline for annual filing due to glitches in the ministry of corporate affairs (MCA) portal. According to the Companies Act, firms are supposed to submit Form AOC 4 for filing of the balance sheet within 30 days of holding the annual general meeting (AGM). This deadline was over on October 29.
Defending the abrogation of Article 370 of the Constitution, the Centre on Monday told the Supreme Court that the entire region of Jammu and Kashmir has witnessed an "unprecedented" era of peace, progress and prosperity, with street violence, orchestrated by terrorists and secessionist networks, becoming "a thing of the past."
Indian issuers are borrowing lesser through bonds compared to their global peers. The total value of bond issuances was down 10.1 per cent on a rolling 4-quarter basis in March 2022, compared to a similar period in March 2019, shows an analysis of data from tracker Refinitiv, a London Stock Exchange Group (LSEG) business. The four quarters ended March 2019 marked the last full financial year before the pandemic took hold.
What we want from spectrum allocation is access to broadband networks at prices that will result in productivity gains.
He asked to focus on the 'vocal for local' mantra during the 'Azadi ka Amrit Mahotsav' celebrations.
Piramals are the largest investors in the Indian real estate sector after HDFC, with investments worth $3 billion already.
25 student suicides in 2023 at India's coaching hub Kota have revealed the mindboggling stress children confront every day, reports Prakash Bhandari.
'An armed helicopter equipped with counter-drone systems will provide the airborne counter-drone capability and flexibility needed to protect India's critical assets.'
States have been told to prepare in advance to counter any impact of an adverse southwest monsoon.
'The upper caste elite's belief that they are casteless is a belief that is available only to the upper castes. Because all the lower castes are reminded by society every day what their caste is.'
Any direction or rule of the House cannot subvert the constitutional guarantee of freedom of speech granted to members of Parliament, Leader of Opposition in Rajya Sabha Mallikarjun Kharge said, asserting that any criticism of the government and its policies can never be equated with the "dignity" of the Council of States.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
Aviation regulator Directorate General of Civil Aviation (DGCA) on Monday said it has issued a show cause notice to Air India regarding two incidents of passenger misbehaviour onboard a flight from Paris to New Delhi last month.
Ola founder and chief executive officer (CEO) Bhavish Aggarwal will step back from day-to-day operations to focus more on engineering functions, team building, and products, apart from focusing on long-term strategic projects, such as two-wheelers, cars, and innovations in quick commerce and international expansion. "I'll be spending more time with all engineering functions, team building, and on products," said Aggarwal in an internal note, adding, "I'll also be increasing my focus on our longer-term strategic projects, including new two-wheeler products, our car project, innovations in quick commerce, electrifying ride-hailing, our cell research and development (R&D), international expansion, building our Pune technology (tech) centre, and Futurefoundry UK." To drive scale, speed, and quality, Aggarwal said he is expanding Ola Group's chief financial officer (CFO) G R Arun Kumar's role to help him steer 'day-to-day operations' across the group.
'We're seeing major Bollywood celebrities, fashion icons, and even movie studios all wanting to build Metaverse experiences'
Modi said India's next general elections will be held in 2024 and he invited G20 delegates to visit the country to witness the "festival of democracy" in the "mother of democracy".
