In the new decade, the scene will change because the banks till recently had been challenged by the fintechs, but the techfins have now entered the arena, observes Tamal Bandyopadhyay.
In a festival gift to borrowers, the finance ministry on Wednesday approved guidelines for a scheme for grant of ex-gratia payment of the difference between compound interest and simple interest for six months of loans up to Rs 2 crore.
While one can file an updated return, there are certain caveats, warns rediffGURU Mihir Tanna.
The 30-share BSE Sensex surged by 477.24 points or 0.83 per cent to close at more than one-week high of 57,897.48. As many as 28 of its constituents closed with gains while two declined. The broad-based Nifty of the National Stock Exchange rose by 147.20 points or 0.86 per cent to settle 17,233.45, tracking gains in Sun Pharma, Asian Paints, and Reliance Industries.
The Reserve Bank on Tuesday allowed banks to open ATMs outside their branches without permission from the central bank.
These individuals largely include businessmen associated with companies, including the dummy ones, in sectors ranging from real estate, financial services, technology and telecom to paints, home decoration, textiles, engineering goods, gems and jewellery. Several of these persons and their companies are said to be based in Kolkata, Gujarat, Bengaluru, Delhi and Mumbai.
The JV, Edelweiss Tokio Life Insurance (ETLI), will soon apply to the Insurance Regulatory & Development Authority to get its nod to start operations, which may take eight months to one year time from now, Edelweiss Capital's Chairman Rashesh Shah said.
A 22-year-old person was killed and another one injured on Thursday after a tree fell on their hut in Mumbai as moderate to heavy rains lashed the city and its suburbs in the last 24 hours, officials said.
'The correction could take two to three months and traders need to be careful.' 'For investors, this could be a good time to nibble in.'
The further expansion and upgrade of the Chinese military does not augur well for India, which continues to confront an increasingly belligerent China on its borders, notes former foreign secretary Shyam Saran.
Low home loan rates by banks could put large players in an advantageous position over smaller non-bank players, believe analysts.
Hemendra Kothari, the former chairman of DSP Merrill Lynch, is set to acquire Ambuja Cements' stake in ING Vysya Life Insurance for around Rs 190 crore.
Punj Lloyd voluntarily deposited Rs 1.06 crore (Rs 10.6 million) on the spot through challans when excise officials visited them during an investigation in the matter.
Expect heightened volatility and stress to hit the markets. Caution may be the need of the hour, alerts Akash Prakash.
Every class of passenger travel, except three-tier AC, loses money.
The industry employs about 10 million workforce.
Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector.
Earlier last month, for the first time ever, an anonymous hacker was served with a restraining order as a non-fungible token (NFT), reports Shivani Shinde.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
JM Financial Consultants, Arpwood Capital and Alvarez & Marsal will advise the board going forward
With billionaire Elon Musk closing the deal to buy Twitter and firing the social media firm's four top executives, twitterati in India on Friday seemed divided with many who were vocal against content moderation on the platform hailing the development while others sounding a note of caution. Musk has completed his $44 billion (one billion=100 crore) takeover of Twitter and fired the social media company's four top executives, including CEO Parag Agrawal and legal executive Vijaya Gadde, according to the New York Times. Musk singled out Gadde, 48, criticising her for her role in content moderation decisions at the company, the report said.
It may sound bizarre, but incidents of public sector bankers dying by suicide could probably equal the number of such bankers quitting their jobs, reveals Tamal Bandyopadhyay.
The agency has booked Sisodia, a 1992-batch IRS officer Sukesh Kumar Jain who was then secretary of vigilance, retired CISF DIG Rakesh Kumar Sinha who was working as special advisor to Chief Minister Arvind Kejriwal and joint director in the Feedback Unit, they said.
India's tremendous success at the Tokyo Olympics seems to have influenced the sports budget as the central government on Tuesday allocated Rs 3062.60 crore for financial year 2022-23 -- an increase of Rs 305.58 crore.
The Gupta brothers are accused in South Africa of using their relationship with former president Zuma to profit financially and influence senior appointments, charges that they have vehemently denied.
Cites technical reasons; crew told to apologies to passengers and provide feedback forms for those seeking a refund for pre-booked meals
The tributes to Fr Stan by his associates and his co-accused (which were read out) provided a clue to why his death continues to touch so many.
The RBI governor's assurance should give investors enough confidence to start believing in the NBFC sector again, say bankers.
The Congress needs to reorganise itself at the grassroots, infuse younger blood, and have more boots on the ground. Just offering freebies is not the answer anymore. Leadership matters, asserts Ramesh Menon.
The Directorate of Revenue Intelligence, the lead agency to check customs frauds and smuggling, has decided to post officers at India's Mission in New York (US), Singapore, Brussels (Belgium) and in Nepal's Birgunj.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Anil Ambani-controlled Reliance Capital Ltd is all set to start life insurance business with regulator IRDA approving the acquisition of Chennai-based AMP Sanmar Life Insurance Ltd.
Allegations of a particular market player being favoured over others were flying thick and fast in the early days of the scam.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
The current slowdown has lasted for over 18 months and is the longest incident of sluggishness since 2006.
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.
Strict lockdown-like restrictions are already in place in the southern stateand the Pinarayi Vijayan government decided to clamp the complete shutdown in the wake of severe spike in the positive cases.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Given the security dilemma prevailing between India and China, India should curb the operation of Chinese telecom companies in India, asserts Dr Rup Narayan Das.
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