Suitors for Punjab and Maharashtra Co-operative Bank (PMC Bank) may have to infuse additional capital of nearly Rs 750 crore so that the payout per depositor is more than the Rs 5 lakh sum assured by the Deposit Insurance and Credit Guarantee Corporation (DICGC). The Reserve Bank of India (RBI) has also slotted its board meeting on March 19 in Mumbai - a fortnight short of the current deadline to find a resolution for the beleaguered bank and the moratorium placed on it comes to an end. Sources close to the PMC Bank transaction said that the central bank wants the suitors "to go the extra mile so that depositors can get more than the Rs 5 lakh insured by the DICGC". This is also to ensure that the new owners of the bank - who are to be issued a small finance bank (SFB) licence - are serious and have deep pockets.
Jokes, parodies, cartoons and even remixes of the Q&A flooded the internet space once it concluded
First lady Jill Biden cheered her countrywomen to an upset victory over the French in the debut of 3x3 basketball at the Olympics as President Emmanuel Macron watched on from the sidelines.
Since 2014, the public sector banks' branch network in rural and semi urban has grown by a mere 4,000 while for private sector banks, it doubled from 9,673 to 18,437.
Flush with liquidity, banks are eager to lend. And, therein lies the problem, warns Tamal Bandyopadhyay.
'...if elections were to be held today.' 'The problem is Akhilesh is not very aggressive.' 'Had he started his campaign aggressively six months ago, the picture in UP would have been very different.'
NITI Aayog's Rajiv Kumar accused former prime minister Manmohan Singh and senior Congress leader P Chidambaram of creating a 'false narrative'
The new Miss America is somebody many "relate to", as she herself said after being crowned. Here's why. And a few other interesting facts you did not know about the Indian-American beauty queen.
International pop star Rihanna on Tuesday extended her support to the ongoing farmers agitation while criticising the Internet shutdown at the protest site.
Companies bank on festive season to beat slow market blues
Although residential sales faced a major set back in Q2, they made a comeback with help of pent up demand.
He asked the people to shun the argument that they 'want to enjoy before the third wave of coronavirus' and stressed that there should be no compromise in following COVID-19 protocols.
The focus will definitely shift towards more meaningful trips than the kind of micro trips we were into before, says Varun Arora.
The superstar, who's quite active and popular on Twitter, is one tweet short of reaching 786, the number of his iconic coolie badge in the 1975 blockbuster Deewar.
On November 12, 2021, the Reserve Bank of India (RBI) decided to ring in uniformity in asset classification and income recognition across all lending institutions. Shadow banks, or non-banking financial companies (NBFCs), like commercial banks, are to test non-performing assets (NPAs) on a daily basis and upgrade them to "standard assets" only when interest and principal arrears are settled by borrowers. This is going to create all manner of headaches for shadow banks and their clientele. Says Y S Chakravarti, managing director and chief executive officer (CEO), Shriram City Union Finance: "NPA levels will go up, especially of small borrowers.
Pre-Diwali Dhanteras sales of gold and silver witnessed a tepid response from consumers on Thursday on account of high prices of the precious metals and sluggish demand due to COVID-19 induced economic hardship, according to jewellers and industry experts. However, jewellers are expecting maximum footfalls on Friday as Dhanteras -- considered the most auspicious day in Hindu calendar for buying items, ranging from precious metals like gold and silver to utensils -- is being celebrated for two days this year.
A bunch of designers show you how to rock the sheer trend in 2017.
Banks are set to sell dud-loans worth Rs 90,000 crore of 22 firms in the first tranche to the National Asset Reconstruction Company (NARCL). It's reason for cheer given that such sales to asset reconstruction companies (ARCs) have been poor in recent times. In fiscal 2020, their assets under management (AUM) contracted by 4 per cent; and in fiscal 2021, it fell by another 100 basis points to Rs 1.07 trillion. So, why are we where we are?
Home sales in the top 10 cities - Ahmedabad, Bengaluru, Chandigarh, Chennai, Hyderabad, Kochi, Kolkata, Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Pune - have declined at a compound annual growth rate of 8% since 2011.
Small stocks made a dashing comeback in 2020 after delivering negative returns in the last two years as increased retail investor participation in pandemic times saw small-cap index surging up to 31 per cent and outperforming the bigger benchmark gauge. This year turned out to be eventful for the equity market, witnessing bearish and bullish sentiments at different points of time. While the initial part of COVID-ravaged 2020 saw the bears in full force amid concerns related to the pandemic and lockdowns hurting economic activities, bulls made a comeback towards the latter half of the year. As the market swayed with many lows as well as highs, small and mid-cap indices emerged as markets favourites in 2020.
The counting of votes for the assembly elections in West Bengal, Tamil Nadu, Assam, Kerala and Puducherry would be held on Thursday morning with trends expected early.
Political controversies aside, Twitter's business in India is expanding, and creating opportunities for Indians, reports Neha Alawadhi.
Rather than going through the tedious, hit-or-miss process of physically designing hull forms and superstructures for warships and then determining how visible they are to radar, the company will simulate this process on supercomputers.
'Kejriwal took political steps and micro level care at every level not to allow the consolidation of Hindu votes behind the BJP,' observes Sheela Bhatt, the distinguished political commentator.
This was the one Budget that required radical departures on all these fronts, when it had none, asserts, Shreekant Sambrani.
Prime Minister Manmohan Singh on Monday told defence scientists to speed up work on advanced technologies like hypersonic propulsions, unmanned vehicles and stealth machines to keep pace with current trends in warfare. Stressing that self-reliance and defence preparedness was not a case of numbers or percentages, the PM, addressing a Technology Day function, said scientists should clearly define strategic and critical areas in which development of national capability is must.
Highlighting the role of MSMEs in enhancing exports and helping the country achieve self reliance, Union Minister Nitin Gadkari on Monday said India does not need to import from China. "Already in automobile sector, in many sectors now, in agriculture, automobiles, everywhere, we have already found the solutions. Now we don't need to import from China," said the minister. He observed that India was exporting a lot of items instead of importing them.
'We are having an outsize impact not only on the lives of the customers and livelihood, but also the economy of India.'
Online hiring activity went up around 26 per cent in May.
'You will still want to take all the necessary precautions, which is the right thing to do.'
Himachal has a tradition of change in government after every elections and going by the trend, this time it is the turn of the BJP which is upbeat after exit poll results.
Beware, it's not just criminals who want your data!
Being trendy was never this simple!
One reason for the surge in cases is the spread of infection at large weddings. Weddings turned out to be super spreaders.
In less than an hour, seven of the top 10 India trends were fuelled by wishes pouring in for Prime Minister Modi from different quarters.
'At this time, staying in the game is more important.' 'If we do that, then wealth can be generated.'
Vivo V9 becomes the first to bring 19:9 aspect ratio phone to India.
The assessment of PMJDY should be done within the context of the programme.
'Social distancing, wearing masks and hygiene should be practised more strictly.'' 'People should not assemble in close spaces as the micro droplets may hang in the air and can last for a longer time.'
There has been a distinct trend change in the micro-indicators like rising auto sales and consumer confidence index in the last 20 quarters, Chandrasekaran stated.
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