Does the Union government or the RBI see itself as Krishna beheading Shishupal and what will constitute the 101st or indeed the past many sins for which a Sudarshan Chakra will have to be used? More importantly, what are those sins?
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
SBI remains a favourite of most brokerages in the PSB segment.
India appears poised to sustain its growth in a more durable way than before with the economy carrying the momentum from FY23 into the current fiscal year, the Annual Economic Review for 2022-23 released by the finance ministry on Thursday said. However, the report cautioned that escalation of geopolitical stress, enhanced volatility in global financial systems, sharp price correction in global stock markets, a high magnitude of El-Nino impact, and modest trade activity and FDI inflows, are factors that could constrain the pace of growth. "Should these developments deepen and dampen growth in the subsequent quarters, the external sector may challenge India's growth outlook for FY24," the finance ministry said.
The Debt Recovery Tribunal (DRT) on Tuesday directed Diageo Plc not to disburse $40 million of the $75 million sweetheart deal to him.
The unions are opposing the government's move to take away the public debt management from the Reserve Bank and curtail its powers on the monetary policy.
Former RBI governor D Subbarao has suggested that the government should come up with a 10-year road map for privatisation of all Public Sector Banks (PSBs) as it would provide much needed predictability to stakeholders. Subbarao further said that the big bang approach to privatisation of state-owned banks is not desirable but at the same time the issue should not be put on the back burner. "Ideally, we should have a road map, maybe over a 10 year timeframe, to privatise all PSBs. "That will give much needed predictability to all stakeholders," he told PTI.
The Bill when enacted will pave the way for setting up of the Resolution Corporation
'Although mid- and small-cap funds have the potential for higher growth, they come with inherent higher volatility.'
Finance Minister Nirmala Sitharaman's Rs 30,600 crore government guarantee for the bad bank has changed the body language of bankers for the better, observes Tamal Bandyopadhyay.
The Ministry of External Affairs (MEA) on March 17 had announced that State Bank of India (SBI) would extend a term loan of $1 billion to Sri Lanka, fully guaranteed by the Indian government, and this was part of India's financial aid to the troubled island nation. Ministry of External Affairs (MEA) spokesperson Arindam Bagchi was quoted saying by news agency PTI that the loan would be used for importing food, medicines, and other essential items. "India has always stood with the people of Sri Lanka and we will continue to extend all possible support at this juncture.
Both the Lok Sabha and Rajya Sabha were adjourned till 2 pm after opposition members held protest in Parliament seeking a discussion on the issue.
'The difference between black money in India and the black money out of India is, in India, it is tax evaded money and Indian money outside India is not only tax evaded money, but money which has been taken out of India's capital resources needed for India. So it is not only tax evasion, but treason too.'
It is high time the Indian government signalled discomfort with the UK providing refuge to those accused of financial crimes in India, states Jaimini Bhagwati.
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
Arun Jaitley addressed a post-Budget press conference.
According to the complaint filed by SBI, the account had become non-performing asset on January 27, 2016.
Tata Steel, SBI, L&T and Sun Pharma advanced 2-5% each.
The Congress on Monday promised that a government led by it will conduct a nationwide caste census and implement 33 per cent reservation for women in the Lok Sabha and state legislative assemblies at the earliest, including adequate representation for women belonging to the OBC community.
About 50 respondents from across banks, financial institutions and intermediaries including brokerage firms, corporate bodies, consulting firms, research institutes and industry bodies participated in the survey
There is not much bank employees can do, but some words of encouragement from the management would have helped. Stretched working hours and the tense atmosphere is taking a toll on their health.
Sensex, Nifty end the day in red on unfavourable cues from global markets.
With the possibility of targeting a huge vote bank among workers in the unorganised sector, the Bharatiya Janata Party is planning to launch a 'Bharatiya Janata Asanghatith Kamgarh Union' that would take up issues of people living on daily wages.
While some states like Kerala and Telangana were badly hit by the strike, the impact was partial in Punjab, Haryana and Maharashtra
'We are talking about boosters these days. Booster vaccines, boosters for the economy. We read somewhere that the current budget is a booster for the nation's economy. But where is booster for the judiciary?' the high court asked.
Bank employees' unions have decided go on a day-long strike on January 7 across the country to press for a wage hike. Bank unions have also threatened to go on strike on multiple days later this month if their demand is not accepted.
Anirudha Kalkote, 24, was produced before a US magistrate in Houston on Friday to face the charges.
Banks play 'mind games' to woo customers. Big data and 'games' are now the tools of the trade.
IBA has commissioned a study to evaluate the pros and cons of keeping banks shut on Saturdays.
The talk of governance reforms at public-sector banks seems to remain on paper, as a majority of them continue to be working with just a handful board members. Half of the board seat at these banks have been vacant. Ten of the 12 public-sector banks, even large ones like Punjab National Bank, Canara Bank and Union Bank of India - all except State Bank of India (SBI) and Bank of Baroda - don't even have a chairman. In 2014, while splitting the post of chairman & managing director (CMD), the government had decided to appoint non-executive chairmen at these banks. SBI, which has an executive chairman and four managing directors, was an exception.
In a significant development, India is believed to have placed a funding request of around $55 million in its first call with the Pandemic Fund of the World Bank, sources said. The fund has been set up to finance critical investments in a bid to strengthen pandemic prevention, preparedness, and response capacities at national, regional, and global levels, with a focus on low- and middle-income countries. It was created in the aftermath of the Covid-19 global pandemic.
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