In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
According to the World Bank, economic growth in middle-income countries, including India, is not accelerating. 'In fact, it is slowing down as incomes increase, with the trend becoming more pronounced each decade.'
External Affairs Minister S Jaishankar on Tuesday targeted Jawaharlal Nehru and claimed that past mistakes were responsible for the problems such as Pakistan Occupied Kashmir (POK) and occupation of some parts of the Indian territory by China.
Suddenly, the legendary advertising line -- a diamond is forever -- is losing its shine.
India's internet economy is estimated to reach $1 trillion by 2030, primarily due to e-commerce, which is expected to be worth $325 billion and rank third globally, according to industry experts. Last year marked a crucial turning point for India's e-commerce sector, with notable changes in consumer trends, technology, and regulations. InGovern Research Services, a leading corporate governance advisory firm, hosted a virtual roundtable to deliberate on the notable developments in India's e-commerce sector in 2023, with a particular focus on the essential role of customer trust in fueling its ongoing expansion.
'I have no idea about such a medal. Never got one,' says Surya Shekhar Ganguly, the national chess champion between 2003 and 2008.
Muhammad Yunus proved that he was neither an armchair economist nor a slogan mongering political activist, but a doer destined to do what Mahatma Gandhi said -- to remove every tear from every eye, recalls Rup Narayan Das.
The climate for 'doing business' remains forbidding, taxtortion is still rife, corruption at state and district levels has increased, oil prices remain extortive with high taxation, and the continued red tape has kept the enterprise system as stifled as before, points out Debashis Basu.
Indo-Pacific region. Senior officials from the ministries of External Affairs and Defence, and the US departments of Defence and State met here for the India-US 2+2 Inter-Sessional meeting.
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
Life insurance companies reported a 13.16 per cent year-on-year (Y-o-Y) growth in new business premium (NBP), totting up Rs 30,347 crore in October, even as the number of policies sold saw a sharp decline. The growth was largely driven by strong performance from private sector life insurers.
Using the same methodology as the EAC-PM study, the fastest-growing religious population is, in fact, the Buddhists. The Buddhist population increased by over 1,600 per cent between 1950 and 2015.
He said Sun Pharmaceutical will continue in manufacturing , infrastructure as well in Research and Development
In FY24, the net income generated from Waqf properties fell to about Rs 1.26 crore from Rs 150 crore in FY20.
Closely watched by the world for any escalation, the Iran-Israel conflict is already showing early signs of stress for India Inc - longer deliveries, doubling freight rates, extended working capital cycles, and higher costs. For those yet to feel the heat, there is growing apprehension and nervousness over future developments, observed industry executives.
"We should not have a repeat of what happened in Mumbai. That there was a terror attack and there was no response," Jaishankar told reporters in Mumbai.
The one-size-fits-all approach adopted by the AICTE is not suitable for regulating business schools in India, argues Asish K Bhattacharyya.
Asserting that the situation was deteriorating, Rosario urged Yunus to resolve the crisis by giving it top priority and putting an end to the violence.
At least 30 suspects have been detained in Bangladesh's Chattogram city for their alleged involvement in the killing of a lawyer and attacking security personnel following the arrest of a prominent Hindu community leader. The violence erupted after Chinmoy Krishna Das Brahmachari, spokesperson for Bangladesh Sammilita Sanatani Jagran Jote, was denied bail and sent to jail in a sedition case. The lawyer, Assistant public prosecutor Saiful Islam, was killed during clashes between security personnel and Das' followers. The interim government has condemned the violence, urging people to remain calm and has ordered an investigation into the killing and appropriate legal measures.
'Reports of the JD-U joining hands with the BJP again is baseless.'
A Bangladeshi court on Tuesday denied bail to prominent Hindu leader Chinmoy Krishna Das Brahmachari, arrested on alleged 'sedition' charges, and sent him to prison, amid protests by community members in the capital Dhaka and the port city of Chattogram.
India's gain will be an additional business of $300 million to $400 million per month if 10-11% of Bangladesh's export is diverted to Indian hubs like Tiruppur.
Bangladesh will take on Scotland in the tournament opener in an afternoon fixture followed by a clash between Asian teams Pakistan and Sri Lanka later in the day at Sharjah.
Department of Industrial Policy and Promotion secretary Ajay Shankar told PTI, "India is emerging as a globally competitive manufacturing hub for small fuel efficient cars." Shankar, who was in London to interact with the UK-India Business Council and the India Business Forum, said, though, export-oriented small and medium enterprises have been severely hit, 'fortunately the auto-sector in India has revived.'
External Affairs Minister S Jaishankar has met United States Defence Secretary Lloyd Austin and held a productive conversation with him on deepening bilateral defence cooperation, including in the co-production of defence articles, and exchanged perspectives on a variety of security issues.
The USIBC has encouraged a streamlined implementation of the GST.
Ukraine is currently in the middle of a strategic offensive into Russia's Kursk region.
Modi also urged the BRICS Business Council to create a roadmap to achieve the $500 billion intra-BRICS trade target by the next summit.
Chief Adviser to Bangladesh's interim government, Muhammad Yunus, has said the issue of attacks on minority Hindus in his country is 'exaggerated' and questioned the manner in which India projected it.
Average monthly GST collection rose from Rs 90,000 crore during the first year of its implementation -- 2017-2018 -- to Rs 1.68 trillion during 2023-2024, representing an 87 per cent rise.
A day after it received Rs 32,403 crore GST demand, Infosys on Thursday said Karnataka state authorities have withdrawn the 'pre-show cause' notice to the company and directed it to submit further response to the Directorate General of GST Intelligence (DGGI) on the issue. India's second largest IT company had made headlines on Wednesday after GST authorities slapped a Rs 32,403 crore notice on it for services availed by the company from its overseas branches for five years starting 2017.
The Life Insurance Corporation of India has the wherewithal to acquire a composite license, a top source aware of the development told Business Standard, adding that the insurance behemoth may look into entering the health and general insurance segments. "LIC has the scale, capacity, IT infrastructure, and the distribution reach to take advantage of the composite license. "LIC is looking at organic as well as inorganic growth opportunities.
US-India Business Council President Nisha Biswal believes once the economic activity and demand resumes, India could hold the potential for diversification of supply chains and manufacturing.
"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
Prominent among the wish list include updating India-US bilateral tax treaty, emanation of double taxation on software revenue, 15 year tax holiday for software technology parks and special economic zones.
The Finance Minister said as a result of India's economic reforms, a number of Indian companies have grown in size and stature and at times tend to compete with the US companies.
The government should provide home loan up to 25 lakh at a lower interest rate of 5 per cent to the people of the middle class, a prominent realtors' body appealed to the government against the backdrop of soaring home prices. G Hari Babu, president of the National Real Estate Development Council (Naredco), in an online interaction with Business Standard, said that the middle class in India accounts for roughly 30 per cent of the total population and is dependent on rental accommodation.
Amendment to the Income Tax Act with retrospective effect made by the United Progressive Alliance government in 2012 to protect revenue had evoked sharp reactions from domestic as well as global investors.
'At the heart of the strategic relationship between our countries are economic ties.'
'The transition from payment banks to SFBs is only permissible for banks not owned by corporate entities.'
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