Former West Bengal chief minister and a front-ranking Marxist leader Buddhadeb Bhattacharjee will go down in the country's history as a pragmatic communist who kept aside his ideological convictions to woo capital for the industrialisation of his state.
After nearly three quarters of generosity , banks are now facing pressure to reduce deposit rates.
Airports across the country witnessed chaotic scenes on Friday after dozens of flights were either delayed or cancelled after a widespread global computer outage that also hit operations like cash withdrawal at some banks, and impacted functioning of some brokerages. Globally, the Microsoft cloud outage led to US airlines cancelling flights, but the tech giant later reportedly said its cloud services outage in the Central US region has been resolved.
This appears to be a common refrain in Uttar Pradesh's Lakhimpur Kheri Lok Sabha constituency where farmers want better prices for their produce and respite from the stray cattle menace and others want political leaders to talk about job creation instead of issues like the Ram temple and Article 370.
Few finance ministers announce any taxation measure that could upset the stock market. Ms Sitharaman decided to take that risk, observes A K Bhattacharya.
'The Budget needs to focus more on social welfare schemes.'
Union Bank of India, Canara Bank, Andhra Bank, Saraswat Co-operative Bank and YES Bank have come together to allow inter-bank fund transfers through debit cards.
Over 6,900 corruption cases probed by the Central Bureau of Investigation were pending trials in different courts, 361 for more than 20 years, according to the latest annual report of the Central Vigilance Commission (CVC). Besides, as many as 658 corruption cases were pending CBI investigation, 48 for more than five years.
Expressing shock, Banerjee said that this move has left Missionaries of Charity's 22,000 patients and employees without food and medicines.
'INDIA will easily cross 50 seats out of 90 in Jammu and Kashmir.'
United Bank of India has denied having defaulted to the tune of Rs 800 crore. It also dismissed any merger talk.
Days after the Karnataka governor granted sanction for the prosecution of Chief Minister Siddaramaiah in the Mysuru Urban Development Authority case, the Congress' top leadership on Friday expressed its backing for him and alleged that the Centre had unleashed a systematic assault through a 'puppet governor' to destabilise an elected government.
'The Indian private sector knows how to build and run educational organisations, what is needed is a large dose of removal of restrictions.' 'Government restrictions hold back universities in India from launching medical schools,' argue Ajay Shah and Vijay Kelkar.
PMC Bank depositors have spent the last one year holding protests, meeting politicians, writing to various authorities in an effort to get their hard-earned money back.
Six nationalised banks, including Canara Bank and Bank of Baroda, on Wednesday signed an agreement with Indian Railways for setting up more than 700 ATMs at railway stations across the country.
The government is set to initiate consultations with the Reserve Bank of India (RBI) to devise a new security clearance framework for screening potential bidders of public sector banks (PSBs) as it kick-starts the privatisation process, beginning with the strategic divestment of IDBI Bank. As the government is moving ahead with strategic divestment of IDBI Bank and is looking to privatise two PSBs, the Department of Investment and Public Asset Management (DIPAM) is looking to put in place an appropriate framework as the potential buyers will have to meet the RBI's fit and proper criteria, said an official. The process of bank privatisation would be different from the sale of any other public sector undertaking (PSU), and more restrictions and measures will have to be put in place, the official said.
The police said that the threat email was sent from the accused, Mohammed Arshil's ID.
Most of the lenders had informed their customers in advance about the strike call given by All India Bank Employees Association (AIBEA), All India Bank Officers' Association (AIBOA), BEFI, INBEF, INBOC and Bank Karmachari Sena Mahasangh (BKSM), and its impact on banking services.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
Union Finance Minister Nirmala Sitharaman on Monday said banks need to focus more on being customer-friendly so that the process of availing credit becomes more hassle-free for borrowers. However, the minister made it clear that banks do not have to be lenient on credit underwriting standards by taking any adverse risks on a proposal. At a meeting between industry representatives and the finance minister, a startup founder in the baking business suggested for credit to be available hassle-free, to which largest lender SBI's chairman Dinesh Kumar Khara said a startup's worries are more on the equity side and assured full support in lending if sufficient equity is on the table.
As many as 20 public sector banks, including big ones like Canara Bank, Bank of Baroda and Union Bank, have failed to achieve the annual farm sector lending target till November, 2009.
In days of smart, networked technology and no shame over collateral damage, what will blow up next -- cars, mobile phones, TV sets, refrigerators? And where?, asks Shyam G Menon.
The country's largest public sector lender State Bank of India on Monday fixed its benchmark lending rate at 7.5 per cent following a Reserve Bank directive, a move that will end the practice of sub-prime loan to corporates.
India needs to recognise and address challenges posed by its dependence on China for critical minerals and examine the implications of phasing down coal on bank balance sheets as it accelerates its green transition, the government's Economic Survey 2023-24 tabled in Parliament on Monday said. As part of its national plan to contribute to meeting the global goal of limiting the average temperature rise to 1.5 degrees Celsius, India has committed to reducing emissions by 45 per cent below 2005 levels by 2030, achieving 50 per cent cumulative electric installed capacity from non-fossil fuel-based energy resources, and creating a carbon sink of 2.5 to 3 gigatons of CO2 equivalent through additional forest and tree cover.
Polycab India, Power Finance Corporation, Shriram Finance, and Union Bank of India appear poised to transition from the mid-cap to the large-cap category within the domestic mutual fund industry. Their market capitalisation (m-cap) now ranks among the top 100, which is the threshold for the large-cap universe defined by the Securities and Exchange Board of India.
Banking operations including cheque clearance across the country got affected on Monday as bankers under the aegis of the United Forum of Bank Unions have gone on a nationwide strike to protest against the proposed privatisation of two state-owned lenders.
Services such as deposits and withdrawal at branches, cheque clearance and loan approvals would be affected due to the strike.
Various corporate houses and banks including TVS Motors, India Cements, Hyundai Motor India Limited and State Bank of India on Tuesday contributed a total of Rs 22 crore.
The Budget emphasises on capacity building and empowerment of marginalised sections of society including farmers.
The assertion comes in the wake of the Supreme Court directing the SBI to submit the details of the electoral bonds purchased since April 12, 2019 to the EC.
Whether she will pare the fiscal deficit target of 5.1 per cent of GDP, using the record dividend received from the RBI, or expand flagship government programmes will be keenly watched.
United Forum of Bank Unions is seeking at least a 15-per cent hike, but the Indian Banks' Association has capped the raise at 12.25 per cent.
The Centre on Monday made public the rules under the recently-notified anti-paper leak law, mandating the National Recruitment Agency (NRA) to prepare norms, standards and guidelines for the computer-based tests among others.
