Beleaguered Paytm Payments Bank's managing director and CEO Surinder Chawla has resigned from the company, a regulatory filing said on Tuesday. Chawla's resignation comes amidst Paytm Payments Bank facing prohibitory action from banking regulator RBI. "Surinder Chawla, managing director and CEO of PPBL, has tendered his resignation on April 8, 2024, on account of personal reasons and to explore better career prospects.
'Increasingly, they treat gold as a financial asset in their portfolio rather than just as jewellery.'
India's foreign exchange reserves increased $2.95 billion to $645.58 billion for the week ended March 29, the Reserve Bank of India (RBI) said on Friday. This is the sixth consecutive week of a jump in overall reserves. The kitty had increased $140 million to $642.63 billion in the previous reporting week.
One should avoid keeping excessive funds in one's savings account.
Experts say the state's economy is grappling with hidden debt, rising welfare costs, and lack of transparency.
India's forex kitty jumped $6.596 billion to $665.396 billion during the week ended March 28, the RBI said on Friday. In the previous reporting week, the overall reserves rose by $4.53 billion to $658.8 billion, the RBI said on Friday.
The bank made a Rs 67 crore net profit, up 21% from the previous year. Its deposits grew 8%, the loan book 10%. Net bad loans dropped from 7.53% to 6.07%. So why was the banker, who headed the bank, not promoted?
This was Rana's last legal chance not to be extradited to India. Earlier, he lost a legal battle in several federal courts, including the US Court of Appeals for the North Circuit in San Francisco.
India's forex reserves decreased $2.282 billion to $640.33 billion for the seven days ended April 19 in the second consecutive week of drop in the kitty, the Reserve Bank of India (RBI) said on Friday. The reserves had dropped $5.40 billion to $643.16 billion in the previous reporting week, ending a multi-week trend of an increase, which also saw the overall reserves touching a new all-time high of $$648.56 billion for the week ended April 5.
The RBI on Friday gave 15 days more till March 15, 2024 to Paytm Payments Bank Ltd (PPBL) to stop deposits, credit transactions or top-ups in any customer accounts, wallets, and FASTags, keeping in view the interest of customers, including merchants. As per a January 31 order of the central bank, PPBL was asked to stop further deposits, credit transactions, or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and National Common Mobility Cards, after February 29.
India's forex reserves dropped by $329 million to $578.45 billion for the week ended March 31, on decline in gold reserves, the RBI said on Friday. The forex kitty had risen handsomely in the previous two reporting weeks, and rose by $5.98 billion to $578.78 billion for the week ended March 24. For FY23, the overall kitty has dropped by $28.86 billion.
'This helps the consumers secure more favourable terms from CIs.'
Finance Minister (FM) Nirmala Sitharaman has presented a forward-looking Budget, reinforcing the government's commitment to 'Reform, Perform, and Transform'.
'Could the impending new crisis, vibe coding, similarly create not a disaster like what befell Indian handlooms during the Industrial Revolution but another opportunity like what the Y2K crisis created?' asks Ajit Balakrishnan.
P K Mishra, a retired IAS officer of the Gujarat cadre, is currently serving as the principal secretary to the prime minister.
As RBI governor, Sanjay Malhotra will have to give the highest priority to the interest of the economy while deciding on the growth-inflation trade off at Mint Street.
'As long as Sebi maintains transparency and market stability, the Jane Street episode is unlikely to deter long-term foreign capital.'
Retail inflation slowed to a four-month low of 5.22 per cent in December compared to 5.48 pc in November, mainly due to easing of prices in food basket, according to government data released on Monday. The inflation based on Consumer Price Index (CPI) was 5.48 per cent in November and 5.69 per cent in December 2023.
Amid the ongoing global tariff war, Reserve Bank Governor Sanjay Malhotra on Wednesday said he is more worried about its impact on growth than inflation. Speaking to the media after presentation of the first bi-monthly monetary policy for the current financial year, Malhotra said, RBI has reduced the growth forecast for 2025-26 by 20 basis points to 6.5 per cent.
'You've got to understand it is not easy to die by suicide.' 'People commit suicide only when they lose everything and find no other way to live.'
Titan, Nestle, Hindustan Unilever, State Bank of India, Larsen & Toubro, ITC, Zomato and Bajaj Finserv were also among the laggards. Adani Ports, IndusInd Bank, Tata Motors and HDFC Bank were among the major gainers.
Foreign investors withdrew Rs 10,355 crore from the country's equity markets in the last four trading sessions this month due to sweeping tariffs imposed by the US on most nations, including India. The outflow occurred after a net investment of Rs 30,927 crore in the six trading sessions from March 21 to March 28. This infusion helped reduce the overall outflow for March to Rs 3,973 crore, according to data from the depositories.
The next Census' findings will help identify the extent of India's ageing population and vulnerability levels.
The Reserve Bank of India (RBI) on Wednesday came out with comprehensive draft guidelines to harmonise and regulate gold loans across all financial entities, including putting a cap of 75 per cent on loan-to-value (LTV) ratio. The draft guidelines also aim to address concerns related to certain lending practices, provide clarity on specific aspects, and strengthen the conduct-related standards in the sector.
Private banks' net profit grew 26.3 per cent year-on-year (Y-o-Y) to Rs 48,982 crore in the first quarter ended June 2024 (Q1FY25) owing to healthy growth in credit and other income. The gross non-performing assets (GNPAs) increased with the end of dispensation granted during the pandemic, according to the data compiled by BS Research Bureau for listed 18 private banks.
The country's forex reserves jumped by $4.53 billion to $658.8 billion during the week ended March 21, the RBI said on Friday. In the previous reporting week, the overall reserves had increased by $305 million to $654.27 billion.
India's forex reserves jumped by $9.7 billion to an all-time high of $666.85 billion for the week ended July 12, the RBI said on Friday. In the previous reporting week, the kitty had increased by $5.16 billion to $657.16 billion, surpassing the previous high of $655.82 billion for the week ended June 7.
Citibank on Wednesday joined the list of foreign banks that have exited retail banking business in India. Mumbai-based Axis Bank completed acquisition of Citigroup's consumer business for Rs 11,603 crore. Under the deal, Axis acquired consumer banking businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans.
'I don't know when I will be able to access those funds.'
The Reserve Bank on Wednesday said the amalgamation of Lakshmi Vilas Bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The RBI issued the statement within hours of the Cabinet clearing the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL).
Widespread use of crypto assets, including stablecoins, can have a negative impact on the macroeconomic and financial stability of a country, the Reserve Bank of India (RBI) said on Monday. In its Financial Stability Report (FSR), the banking regulator highlighted that excessive use of crypto assets can reduce effectiveness of monetary policy, worsen fiscal risks, circumvent capital flow management measures, divert resources available for financing the real economy and threaten global financial stability.
The International Monetary Fund (IMF) has said its executive board granted $1 billion in assistance to Pakistan this month after finding out that the country met all conditions and targets for it.
Gold demand in India witnessed a 5 per cent on-year rise at 802.8 tonnes in 2024 supported by reduction in import duty, and purchases related to weddings and festivals, and going ahead consumption of the yellow metal in 2025 is likely to be between 700-800 tonnes, according to the the World Gold Council. The World Gold Council (WGC) in a report on Wednesday said gold demand in the country in 2024 stood at 802.8 tonnes, as against 761 tonnes in 2023.
Jio Finance, a wholly owned subsidiary of Jio Financial Services, is likely to delay its maiden bond issue of Rs 3,000 crore, originally scheduled for this month. The decision comes amid expectations of softening yields in April because the Reserve Bank of India's (RBI's) monetary policy committee (MPC) is widely expected to cut the policy repo rate by another 25 basis points, sources said.
Saurav Ghosh's step-by-step guide will help you understand what bonds are, how they help investors make money, how much money they make and which bonds to invest in.
The Real Effective Exchange Rate (REER) of the rupee moderated in December to 107.20 after hitting a peak of 108.14 in November, latest data released by the Reserve Bank of India (RBI) showed. The REER was 103.66 in January 2024. The rupee depreciated around 3 per cent against the dollar in 2024.
The gold loan portfolio of banks continued to show strong off-take with 76 per cent year-on-year (Y-o-Y) growth in January 2025 amid moderation in retail credit - especially in the unsecured credit segment - following increase in risk weights in November 2023. The gold loan pool had grown 17.4 per cent Y-o-Y in January 2024.
'When you have the best market at your doorstep, international diversification is a distraction.'
The National Payments Corporation of India on Thursday granted approval to Paytm-owner One97 Communications Ltd to participate in UPI as a Third-Party Application Provider (TPAP) under the multi-bank model. Axis Bank, HDFC Bank, State Bank of India, and YES Bank will act as Payment System Provider (PSP) banks to Paytm.
Global trends, macroeconomic announcements and US tariff developments are expected to drive stock markets in a holiday-shortened week, analysts said. Market participants will also closely track foreign investor activity, geopolitical tensions, and their impact on the US dollar and crude oil prices, they added.
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