Banking services were affected on Friday as employees of public sector banks struck work demanding compassionate appointments, fresh recruitments, one more pension option and ban on outsourcing and merger of public sector banks.
India has suspended the Indus Waters Treaty with immediate effect, accusing Pakistan of breaching the pact by refusing to negotiate modifications and engaging in sustained cross-border terrorism. The decision follows a recent terror attack in Jammu and Kashmir that killed 26 people. Pakistan has rejected India's move, calling it an "act of war."
Red Square and VDNKh easily rank among the most striking places I've visited -- both for their historical significance and architectural splendour.
My admiration for Russian culture, vision and ambition grew with every step as I clocked the miles, Nitin Sathe tells us after a visit to Moscow and St Petersburg.
About 1 million bank officers are expected to participate in the strike on May 30 and May 31
To ease pressure due to the coronavirus lockdown, corporate have asked banks and the government for a six-month liquidity line, so that they can pay off their suppliers and employees.
Union Finance Minister Nirmala Sitharaman on Tuesday commended Indian financial sector regulators for doing a "world-class job" and bringing greater transparency into the system. Underlining that she is not against questioning or critiquing regulators, Sitharaman said there is a need to be "extremely conscious" about contributions made by them as well. Speaking at the Financial Express Best Banks Awards, the finance minister said, "I strongly recommend that facts are taken on board before we discuss anything to do with the regulators, strictly speaking."
The Reserve Bank has asked the public to pay their income tax dues well in advance so as to avoid standing in long queues and stated that 29 agency banks are also authorised to accept such payments.
The nationwide bank strike scheduled on October 5-6 has been called off after Indian Banks Association agreed for fresh negotiations with bank unions on wage revision and other demands.
A cloudburst in the high altitude villages of Dharali in Uttarkashi district of Uttarakhand led to flash floods, causing damage to houses and sweeping away structures. Several people are feared buried under debris.
India and the UK on Thursday inked a landmark free trade agreement (FTA) that will cut tariffs on British whisky, cars and an array of items, besides boosting bilateral trade by around $34 billion annually.
High frequency indicators, like vehicles sales, air traffic, steel consumption and GST E-way bills, point towards a sequential pickup in momentum of economic activity during the second half of the fiscal 2024-25 and sustain moving forward, RBI Bulletin said on Wednesday. However, a strong dollar, driven by US economic resilience and trade policy pivots, could exacerbate capital outflows from emerging economies, push risk premiums higher, and intensify external vulnerabilities, said an article on 'State of the Economy' published in RBI's February bulletin.
India-Turkiye ties are strained over Ankara's Islamabad tilt, its arms links with Pakistan, and fallout from the Pahalgam terror attack.
The cases pertain to State Bank of India, Punjab National Bank, Andhra Bank, Oriental Bank of Commerce, Indian Overseas Bank, Allahabad Bank, Canara Bank, Dena Bank, Punjab and Sind Bank, Central Bank of India, Union Bank of India, IDBI Bank, Bank of Baroda, Bank of Maharashtra and Bank of India.
Employees of public sector banks have called off the strike planned on February 25 and 26
China has expressed its support for Russia's initiative to revive the Russia-India-China (RIC) troika, emphasizing its importance for regional and global security and stability.
Manas Sood, a Class 12 student from the Delhi Public School, has distributed 2,650 boxes of Tax City Education and empowered over 12,000 students from 52 schools across India. His aim? To help young Indians understand taxes and become financially literate.
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.
Tamil Nadu-based Lakshmi Vilas Bank (LVB) with pre-independence lineage on Friday lost its identity after its merger with the Indian subsidiary of Singapore's DBS Bank. The debt-ridden 94-year old old bank's fate was sealed with Union Cabinet headed by Prime Minister Narendra Modi approving Scheme of Amalagamation on Wednesday.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
The decision was taken by bank unions at a meeting with IBA representatives, on the directive of chief labour commissioner, in Mumbai. UFBU is the umbrella body of bank unions in the country and consists of members from public, private and foreign banks.
The Reserve Bank of India's move to raise ceiling on NRE rupee deposits have prompted IDBI, Union Bank of India and Yes Bank to increase interest rates on fixed deposits of non-resident Indians.\n\n
Norms governing investments by provident funds bar these from depositing funds in a commercial bank in case the NPAs of that bank exceed two per cent of net advances.
Sitharaman said the government understands that the contours and tone of issues for each sector varied from one to the other.
The number of Indian billionaires has grown by 123 per cent in the 10-year period, reaching 185 in 2024. Their wealth has grown by 263 per cent to $905.6 billion.
Banking operations are likely to be hit on Tuesday as unions have called a nationwide strike to protest mergers of public sector undertaking banks and the proposed hike in foreign direct investment limit to 74 per cent in the sector.
In a double-dose bid to boost growth and employment prospects, the Union Cabinet on Tuesday approved a Rs 2.07 trillion outlay for a research development and innovation (RDI) Scheme to fund private sector innovations, and an employment-linked incentive (ELI) to create over 35 million new jobs over the next two years.
Despite similar tax treatment, debt MFs enjoy certain advantages over FDs.
Over 10 lakh (1 million) bank employees across the country are likely to strike work on Tuesday in protest against the 'negative attitude of the Indian Banks Association and the central government' towards their wage revision.
Indian banks are the 2nd-fastest-growing ones.
It is Finance Minister P Chidambaram's meeting with leaders of public sector bank unions that averted the three-day bank strike proposed from March 28.
'The snakes and ladders game will continue till the consolidation process is complete simply because we don't know how bad the scene is, with some of the banks being merged,' says Tamal Bandyopadhyay.
'It has remained around 38 per cent over the past four to five quarters.'
The current situation in Kerala politics is perhaps best described as a case of the state's traditional two front politics now seeing a third front (the BJP) muscling in with the potential outcome being either a messy three front affair or a renewed endorsement of the two front pattern but with one of the old fronts compromised or quashed, observes Shyam G Menon.
Congress leader Rahul Gandhi accused the BJP of rigging the Maharashtra assembly elections and expressed concerns about similar tactics being used in the upcoming Bihar polls. He alleged that the special intensive revision of electoral rolls in Bihar is an attempt to manipulate the election process.
Nationalisation has served its purpose. It's time to move ahead, keeping majority ownership of the government in a few banks to serve the people, argues Tamal Bandyopadhyay.
Despite facing financial constraints, Kerala has been able to invest in welfare schemes and targeted programmes.
'I hear that there are some 10,000 Indians stuck in Iran, including nearly 4,000 students from Kashmir. But, I do not know any of them. Here I am all by myself and the embassy has asked me not to venture out far from my hotel. People here are going about their daily lives despite the bombings'
Vice President V V Giri's resignation in 1969 triggered political upheavals that saw the ruling party defy its own presidential nominee, the expulsion of a sitting prime minister by her party president, and a historic split in the Indian National Congress, recounts Utkarsh Mishra.
FM has called for a tripartite meet to resolve the bank staff issue and avoid a strike.
State Bank of India and IDBI Bank have decided not to go to the IIMs this year.
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