Concerned over the rise in mis-selling of products by banks and non-banking financial companies (NBFCs), the Reserve Bank of India (RBI) is examining whether to come up with norms to curb such practices. Observing that pushing financial products, such as insurance, indiscriminately to unaware consumers may be detrimental to their well-being, RBI Deputy Governor M Rajeshwar Rao said, "We are examining whether it necessitates framing of guidelines to address mis-selling of financial products and services by REs (regulated entities)."
In the past 10 years, over 500 PSB officers have died by suicide. When targets are overwhelming, senior management and customers are both impatient, and there is constant fear, not every banker has the resilience to survive and thrive, warns Tamal Bandyopadhyay.
The bench referred to three reports submitted by the cyber cell police which said the beneficiaries were added to the bank account without any message or OTP received on the registered mobile number and email to the registered email account.
'The BJP will win comfortably if the Congress and AAP fight separately -- though not with 162 seats.' 'But if they form an alliance, it will become a major problem for the BJP. That's precisely why this expansion is happening now.'
With the interest rate cut cycle nearing its end, several debt fund managers are shifting their focus towards interest income rather than betting on duration in anticipation of capital gains.
This marks a 67% increase from the Rs 2,537 crore lost in scams in 2022-2023.
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.
India's forex reserves jumped by $4.039 billion to $598.89 billion for the week ended September 1, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had dropped by $30 million to $594.86 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
Benchmark stock indices Sensex and Nifty rallied more than 1.6 per cent to close at lifetime high levels on Thursday following buying in banking, oil and auto shares and a record dividend payout by the RBI to the government. Regaining the 75,000 level after its best single-day gain since January 29, the 30-share BSE Sensex closed at all-time peak of 75,418.04, up by 1,196.98 points or 1.61 per cent over the last close.
Borrowers should consider switching from an MCLR-linked to a repo rate-linked loan.
Analysts expect Nifty to rise up by to 6 per cent in six months, with intermittent corrections likely due to global factors.
Outgoing Reserve Bank Governor Shaktikanta Das said on Tuesday that restoring inflation-growth balance is the most important task ahead of the central bank. Addressing a press conference on his last day as the central bank chief, Das said his successor will have to navigate the changing world order, effectively deal with cyber threats, and focus on harnessing new technologies.
Former Prime Minister Manmohan Singh's 1991 budget unshackled India's economy, significantly enhancing the economic prospects for hundreds of millions of Indians, first deputy managing director of the International Monetary Fund (IMF) Gita Gopinath said on Friday.
Finance Minister Nirmala Sitharman on Monday held a performance review meeting with heads of public sector banks and asked them to make concerted efforts to garner deposits. Deposits have been growing 300-400 basis points lower than the credit growth in the last few months, creating an asset-liability mismatch for banks. During deliberations on the deposit mobilisation, she said that while the credit growth has picked up, mobilisation of deposits could further be improved to fund the credit growth sustainably, and asked banks to make concerted efforts to garner deposits by conducting special drives.
The country's current account deficit widened marginally to $9.7 billion or 1.1 per cent of GDP in April-June 2024, as against $8.9 billion or 1 per cent in the year-ago period, Reserve Bank of India said on Monday. The crucial number representing the country's external sector strength has come on the heels of a surplus of $4.6 billion or 0.5 per cent of GDP recorded in the preceding January-March quarter. The Reserve Bank attributed the year-on-year widening in current account deficit to a rise in merchandise trade gap which was recorded at $65.1 billion in Q1 FY25 as compared to $56.7 billion in the year-ago period.
The liquidity will move into deficit after advance tax payments and GST outflows. It will rebound in October because of government spending.
'Many global investors have been overweight on dollar assets, so some diversification or hedging is naturally expected.'
The Reserve Bank of India (RBI) on Monday said 98.04 per cent of the Rs 2000 banknotes have been returned to the banking system, and only Rs 6,970 crore worth such notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation.
Among Sensex scrips, Bharti Airtel, Titan, NTPC, State Bank of India, ITC, Tata Steel, Mahindra & Mahindra and Tata Motors were the major laggards. Adani Ports, Infosys, Axis Bank, HCL Technologies, Tech Mahindra and IndusInd Bank were among the gainers.
The ratings agency, in a report, said 'the Reserve Bank of India's deferral of the Basel 3 implementation deadline by a year has eased the pressure on banks to issue hybrid Tier 1 capital in FY15.'
A comprehensive technical framework needed, from which a more convincing policy could be demonstrated
New investors should avoid short-term, tactical entries and instead go for staggered buying via ETFs to manage volatility.
Ramalingam Kalirajan offers some easy steps to reactivate your accounts with banks like SBI, HDFC Bank, IDFC First Bank and PNB just so that you can start availing all the benefits linked to your account.
The foreign degree no longer sells itself, families are doing the math, and for many, the numbers just don't add up.
Foreign investment in bonds issued by Indian corporates touched a 10-year high in May at 20,996 crore, driven by $3.35 billion fundraise by the Shapoorji Pallonji (SP) group, which saw infusion from Deutsche Bank, BlackRock, Morgan Stanley, Davidson Kempner, and Cerberus Capital, among others. The SP group sold three-year bonds, offering 19.75 per cent yield compounded annually and payable at maturity.
HDFC Bank on Tuesday said RBI has given approval to the group to acquire up to 9.5 per cent stake each in six lenders, including ICICI Bank and Axis Bank.
India's foreign exchange reserves increased to $604 billion as on December 1, surpassing the $600 billion mark after a gap of about four months. The forex reserves were last above the $600 billion mark on August 11 this year. "India's foreign exchange reserves stood at $604 billion as on December 1, 2023.
India's forex reserves jumped by $7.65 billion to $638.26 billion in the week ended February 7, the RBI said on Friday. This is the third consecutive week of a jump in the kitty, which had increased by $1.05 billion to $630.61 billion for the week ended January 31.
Bank credit growth is expected to moderate this financial year after a robust 16 per cent estimated for last financial year, driven by strong economic activity and retail credit demand. There are three reasons for this: a statistical high-base effect given the strong growth seen last financial year, revision in risk weights by the Reserve Bank of India (RBI), and relatively slower economic activity.
India's foreign exchange reserves rose by $1.85 billion to $595.05 billion in the week ended on June 30, the Reserve Bank of India said on Friday. The overall reserve had dropped by $2.90 billion to $593.20 billion in the previous reporting week. In October 2021, the country's forex reserve had reached an all-time high of $645 billion.
India's forex reserves jumped by $2.84 billion to a new all-time high of $692.3 billion for the week ended September 20, the RBI said on Friday. The overall kitty had increased by $223 million to a new high of $689.46 billion for the previous reporting week.
India's forex reserves jumped by $ 2.76 billion to $ 623.2 billion in the week ended December 29, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had increased by $4.47 billion to $620.44 billion. In October 2021, the country's forex kitty had reached an all-time high of $ 645 billion.
The weakening of inflation, prospects of economic growth, geopolitical uncertainty and comfortable system liquidity may result in the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) to cut the repo rate by another 25 basis points, opine top economists. They also said the external economic pressures like trade policies and others would require continued RBI's accommodative stance and policy support for the Indian industry to sustain the growth.
Conservative investors seeking equity-like tax benefits with low risk may go for them.
'From tariff tensions and border skirmishes to unrest in West Asia.' 'The worst may be behind us. But any further upmove will now have to come from earnings.'
They don't just want better returns -- they're looking for global opportunities, more variety and smarter ways to grow their money, says Soubho Moulik, CEO, Appreciate.
Group Captain Shubhanshu Shukla, India's second astronaut, shares his journey from a shy child hearing stories of Rakesh Sharma to becoming part of the Axiom-4 mission to the International Space Station. He emphasizes the role of the IAF in his transformation and inspires India's youth to explore space.
A family feud within the politically influential Matua community has erupted between Union minister Shantanu Thakur and his brother, BJP MLA Subrata Thakur, creating ripples in West Bengal's political landscape and posing a challenge for the BJP ahead of upcoming elections.
For FY26, the company has adopted a cautious outlook, anticipating domestic growth to broadly track the industry's low single-digit estimated growth amid ongoing economic headwinds.
India's forex reserves dropped $2.901 billion to $593.19 billion in the week ended June 23, the Reserve Bank said on Friday. The overall reserves increased by $2.35 billion to $596 in the previous reporting week. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
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