'Banks may find small ticket size lending economically unviable due to the cost of branch operations.'
The Reserve Bank of India (RBI) has recognised the Fintech Association for Consumer Empowerment (FACE) as a self-regulatory organisation (SRO) in the fintech sector, the central bank announced on Wednesday. The banking regulator received three applications for fintech SRO. Of the remaining two applications, one has been returned by the RBI with a provision for resubmission after meeting specific requirements, while the third application is still under examination, said Governor Shaktikanta Das at the Global Fintech Fest in Mumbai.
'A rigid or overly broad interpretation could lead to a chilling effect on investments and growth in sectors traditionally driven by private initiative.' 'Entrepreneurs may fear that their assets could be arbitrarily appropriated by the State under the guise of serving the 'common good' without sufficient legal safeguards.' 'The judgment thus supports a more nuanced view, one that balances individual property rights with public welfare objectives.'
Defence Minister Rajnath Singh on Thursday called upon the top military brass to analyse the conflicts in Ukraine and Gaza as well as the current situation in Bangladesh to "predict" any future problems and stay prepared to deal with the "unexpected".
The Congress on Saturday resolved to make the Indian National Developmental Inclusive Alliance (INDIA) an 'ideological and electoral success' to free the country from 'divisive politics' and ensure that people get a government that is sensitive and accountable.
The NGO is said to be shutting down its India operations after allegations that the charity was engaging in religious conversion.
'IPOs have performed exceptionally well, with a notable increase in average ticket size from Rs 800 crore in the last financial year to around Rs 1,300 crore in this financial year.'
'We take allegations of bias incredibly seriously, and want to make it clear that we denounce hate and bigotry in any form'
India on Thursday said the United States State Department's recent remarks on the arrest of Delhi Chief Minister Arvind Kejriwal is 'unwarranted' and asserted the country is 'proud of its independent and robust democratic institutions' and committed to protect them from any form of undue external influences.
The 'Integrity Pact' was signed by GAIL Chairman and Managing Director U D Choubey and TII Chairman R H Tahiliani.
The decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
Producers and consumers showed a rare harmony when they at the end of two-day International Energy Forum in Cancun made stability in oil prices their common goal.
Since it was formed 58 years ago, Haryana has had Jat chief ministers for 33 of those.
While Indian firms performed the best in fighting corruption, Transparency International has slammed Chinese companies for their opaque business practices.
Corruption is much higher in Pakistan which occupies 140th place, a little below Iran, Libya and Nepal which are ranked 133, 134 and 135 respectively. Meanwhile, China which was ranked a joint 72 with India in 2007, slided a step down to occupy a place above its neighbour this year.
"Government is committed to implement its policy of Zero tolerance against corruption. It is moving progressively to eradicate corruption by improving transparency and accountability," the Minister of State for the Ministry of Parliamentary Affairs Suresh Pachouri said in Lok Sabha. "Measures for strengthening the Anti-Corruption Bureau in various states are taken by the concerned governments," he told the lower house.
The Central Vigilance Commission has come out with a stunning report on the "public-private partnership" model of the nexus between corporates, politicians and bureaucrats to perpetrate large-scale corruption.
India's score is a result of an average of 13 studies including World Bank's Country Performance and Institutional Assessment, World Economic Forum Executive Opinion Survey and Global Insight Country Risk Ratings, among others.
In an interview with Rediff.com, Transparency International explains how the organisation collates its information, assigns ranks to various nations and tries to battle global corruption.
Canadian Prime Minister Justin Trudeau Thursday reiterated that there are "credible allegations" that should be taken "extremely seriously" as he urged the Government of India to work with his country to allow justice to follow its course in the killing of a Khalistani extremist leader.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
Corruption continues to ravage societies around the world, reveals Transparency International's Corruption Perceptions Index 2012.
A whopping $700 million (about Rs 3,700 crore) is paid annually as bribe in India for land administration services, a joint study by United Nation's body FAO and Transparency International has observed.
Besides India, the United States and the United Kingdom will also go to the polls this year.
'I am not a Shubman Gill hater but I feel Ruturaj is a better option because he has scored runs in tougher situations.'
In a list of 28 countries, India has been ranked 19th, while China and Russia were fared the worst, at 27th and 28th positions, respectively.
India, the US and 12 other members of the IPEF grouping have signed a supply chain resilience agreement that would help mitigate risks of economic disruptions from supply chain shocks and improve crisis coordination. The agreement would help member countries like India to reduce their dependence on China and provide timely information to the IPEF member countries about potential supply disruptions. The COVID outbreak severely disrupted the global supply chain, as most countries were dependent on China for various products like pharma raw materials.
Corruption continues to be the bane of modern India and threatens to derail its rapidly growing economy.
Former Cricket Association of Bengal (CAB) treasurer Biswarup Dey has launched a fresh tirade against the Sourav Ganguly-led Cricket Association of Bengal alleging discrepancy in ticket distribution for the India-England ODI on January 22.
Payouts to key management personnel in non-banking financial companies (NBFCs) are under the banking regulator's scrutiny. Top industry officials said this is a follow-through on the Reserve Bank of India's (RBI's) circular of April 29, 2022, which asked NBFCs in the "middle" and "upper" layer of its four-tiered scale-based regulatory (SBR) framework to put in place a board-approved compensation policy.
The Delhi battlefield may not be a cakewalk for the Rhodes Scholar.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Stories are legion about the Karatmeter's use at that time. Hundreds of people standing in queue for testing, customers breaking down after discovering the actual purity of their jewellery and then becoming irate about the jeweller who had gypped them, the local jewellery industry leaning heavily on the Tanishq franchisees to desist from using it, some jewellers even threatening violent action.
India on Friday made a strong pitch for a sovereign rating upgrade with Moody's and also questioned the parameters based on which the US-based agency accords ratings, sources said on Friday. Ahead of its annual review of the sovereign rating, Moody's Investors Service representatives met Indian government officials during which the officials highlighted the reforms and strong fundamentals of the Indian economy. A higher rating for India would mean the nation is less riskier, translating into lower interest rates on borrowings.
In line with India's 'Neighbourhood First' policy, the largest share of aid portfolio has been granted to Bhutan with the allocation of Rs 2,068 crore.
The petitioners also sought action against beneficiaries of the alleged commission of Rs 640 crore in the deal.
The insurance regulator's move to prod insurance companies to sell health products to all age groups, including those above 65, is aimed at increasing penetration though there would be challenges on pricing due to higher risk perception, experts said. While there was no regulatory cap on age for health insurance policies, most companies had an internal policy which did not allow them to sell health insurance products to persons over 65.
The spokesperson for the White House National Security Council said they are "coordinating and consulting" with Canada and also "engaging" with the Indian government.
Growing at a robust rate due to economic reforms in key sectors like digitisation and infrastructure, India has emerged as a star performer and is projected to contribute more than 16 per cent of the global growth, the International Monetary Fund said on Monday. "What we have been observing for quite some time now is that India has been growing at a very robust rate. "It's one of the star performers when it comes to real growth when you look at peer countries.
Contrary to popular perception that corruption was on the rise in India, an international organisation on Tuesday said it had in fact decreased in the past one year and placed the country 88th among 159 nations, down by two ranks.
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