Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
In view of the foreign investment that would come into Bharti Airtel via the proposed share-swap and cash transaction arrangement, the finance ministry has asked DoT to ascertain more specific contents of the deal and advise the ministry on the same. In its letter, DEA has also said that the transaction would need to adhere to the sectoral cap as per the FDI policy as also specific telecom sector regulations.
For the urban population, recalibration of ATMs has already started and they will start dispensing the new Rs 2,000 currency notes from Monday or Tuesday.
'For years, the RBI has been warning banks on probable frauds in bank guarantees and advised them to exercise due care.' 'PSB staffers feel their jobs are secured, hence there is no need to be vigilant and exercise financial prudence.'
The permanant account number (PAN) will be the sole identification number for all stock market transactions from July 2, 2007.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
It is important to clarify that availing of an exemption is neither evasion nor tax planning.
OVL, along with Oil India Ltd, had in June agreed to buy Videocon Group's 10 per cent in the same block for $2.48 billion.
'If one can write 100-150 lines of good code in a day, they will always be in demand,' advises Jitendra Singh, chief technology officer, TalentSprint, an edtech platform.
A closer look at the data reveals that a lot of the items are not part of this calculation. The notable ones include buffalo meat, marine exports, raw cotton, and plantation crops such as tea, coffee, rubber, etc.
Delhi Lt Governor Najeeb Jung is expected to give his report to the Centre on Saturday on the follow up action in the wake of resignation of the Aam Aadmi Party
Telecom to Telekom Malaysia in an attempt to complete the merger, sources involved in the negotiations said, declining to be identified. The group has hired Enam Financial as adviser to the transaction. Investment banking sources said the lawyers from both the parties are now busy structuring the deal so that the acquisition meets all the regulatory norms of the country and the Birlas retain control over Idea Cellular.
Reliance Capital and Reliance Home Finance said that PWC cited the companies' failure to convene audit committee meetings within the expected time, despite multiple letters of intent sent to them, as one of the reasons for the resignation.
Under Aadhar, more than 1 billion people have their online identity.
A Europe-like cyber security defence alliance is the need of the hour, say banking technology experts.
Most of these alleged tax evaders hail from Kolkata, Mumbai, Ahmedabad, Surat, and Delhi.
Sebi to look into disclosure, other lapses in the Vijay Mallya, Diageo case.
Ratnakar Bank to absorb RBS' employees involved in three businesses
Why do we need a bad bank, owned by the banks themselves when there are at least 28 ARCs around, asks Tamal Bandyopadhyay.
'There has been a marked increase in four types of cases.' 'One is fraud related to online deliveries, online shopping and online groceries and liquor.' 'Second fake news, third hate speech and fourth sextortion.'
Readers share their good and bad ATM experiences.
Morgan Stanley Real Estate on Wednesday announced that it has invested Rs 300 crore (around $68 million in Mantri Developers Private Ltd, a private Bangalore-based real estate developer.
'Infusion of fresh capital, handsome growth in deposits and focus on recovery should bring Yes Bank back on the growth path in the next financial year,' observes Tamal Bandyopodhyay.
DDinesh Kumar Khara is someone who cares for others's ideas and suggestions.
If he takes the people along with him (which he always does); cares for the customers (80 per cent of SBI's new customers are in the 20-40 age group); and doesn't take his eyes off technology, his job is done, says Tamal Bandyopadhyay.
Investors say they see large companies going through the grind, as their promoters struggle with liquidity because they are levered up at the holding company level and are starting to get margin calls thanks to the crashes in the stock market, and in the next six months, the targets that will come up for PE companies will make for a harvest season like never before.
Governor also says two-stage verification for card transactions might go; RBI in process of setting up IT arm
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Its obsession for growth, chasing corporate clients and giving up its original mandate of meeting the needs of local trade and businesses. A quarter of its loan book has gone bad. That's an error of business strategy, points out Tamal Bandyopadhyay.
The problem is with the broking model and what brokers are allowed to do, notes Debashis Basu.
Former Mumbai police commissioner Rakesh Maria has claimed his successor Ahmed Javed knew Sheena Bora murder case accused Indrani and Peter Mukerjea socially, and that Peter also knew the then joint commissioner of police (law and order) Deven Bharti on "first name terms". Maria, who investigated some high-profile cases like the 1993 Mumbai serial blasts and also headed the probe in the 26/11 Mumbai terror attack, made the revelation in his memoir Let Me Say It Now released on Monday.
JM Financial Consultants, Arpwood Capital and Alvarez & Marsal will advise the board going forward
Yes, if you are planning to apply for a loan or want to claim refund
Legal hurdle cited in I-T action against 32,000 entities.
'The professional or the freelancer needs to pay taxes from his pocket first and then wait for payments from his clients.'
A robo advisor may seem like the perfect solution for those with only a small investment capital who are just starting their investment journey, says Mrin Agarwal, founder, Finsafe India.
The Board of Control for Cricket in India on Saturday refuted allegations that it violated India's foreign exchange regulations while conducting the second edition of the Indian Premier League in South Africa in 2009, insisting that all the payments were "bona fide and legitimate".
The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
A task force will speed up the recalibration of 200,000 ATMs so these can dispense the new Rs 2,000 notes.
'As a person who has seen the treasure, I am worried about its safety.'
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