Amendments would be required in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 for privatisation, sources said.
Under the new model, the IT services firm will replace the current structure of its various strategic business units, service lines and geographies with four strategic market units and two global business lines.
Had Finance Minister Sitharaman thought a little more about the middle class, disadvantaged sections, and the poor who are struggling, it would have been an inclusive Budget that would have made history, notes Ramesh Menon.
Fund managers may end up losing out on crucial information during market hours, leading to information asymmetry vis-a-vis other institutional investors such as alternative investment funds, insurance players, or foreign portfolio investors.
Prime Minister Narendra Modi on Saturday released Rs 20,946 crore to 10.09 crore farmers across India as the 10th installment of financial aid under the PM-KISAN scheme and said there was a need for innovation in agriculture along with promotion of natural farming. Under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, a financial benefit of Rs 6,000 per year is provided to the eligible farmer families, payable in three equal installments of Rs 2,000. The PM-KISAN scheme was announced in the February 2019 Budget.
In an effort to cut costs and improve efficiency, Insurance major Aviva on Thursday announced that it would reduce its staff in the United Kingdom by 4,000 from the existing 36,000 and offshore 1,000 of them to India by 2008.
After the government sought Parliament's nod for a second batch of supplementary demand for grants that will cause a hit of Rs 2.99 trillion to the exchequer, doubts suddenly arose about the government's ability to meet the Budget projections of reining in its fiscal deficit at 6.8 per cent of gross domestic product (GDP), or Rs 15.06 trillion, for the current financial year. Till now, many were of the opinion that the government would succeed in checking the deficit at a much lower figure than what was given in the Budget Estimates (BE). The government had sought Parliament's approval to spend Rs 3.74 trillion extra, but Rs 74,517.01 crore will be matched by equal savings on other heads.
The good news is investors can make 5 to 6 switches during a year among funds depending on the insurance companies without incurring any costs.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Buying in India is usually cheaper unless you have a pre-existing disease
The loss to policyholders due to massive mis-selling of insurance policies by trusted private sector and public sector banks will be well in excess of Rs 2 trillion, warns Harsh Roongta.
Hamsini Karthik reveals why the ongoing business rejig will help unlock value for shareholders of Grasim, Reliance Capital and Tube Investments
Ola Electric on Thursday said it will bring its electric scooter to the Indian market in July this year, and is working on setting up a 'Hypercharger Network' to include one lakh charging points across 400 cities. Last year, Ola had announced a Rs 2,400 crore investment for setting up its first electric scooter factory in Tamil Nadu. Upon completion, the factory will create nearly 10,000 jobs and will be the world's largest scooter manufacturing facility that will initially have an annual capacity of 2 million units.
The differently-abled deserve a normal life. Nothing will stop Poonam Natarajan from ensuring that India, slowly but surely, gives it to them, discovers Shobha Warrier.
The government has an opportunity right now to save Indians from deep recession, and in many cases, starvation, notes Kalyan Singhal.
Ten central trade unions except Bharatiya Mazdoor Sangh are observing one-day general strike on Thursday to protest against various government policies.
Mired in corruption, politics and with a history of suicides by its hapless depositors, PMC Bank's revival is a challenge very different from Yes Bank and LVB, both for the regulator and the rescuer, observes Tamal Bandyopadhyay.
As many as 14,000 runners from across 15 countries will be lining up to take part in a nearly month-long initiative to raise funds for coaches and support staff in various sports amid the COVID-19 pandemic, the organisers said on Thursday. Championed by celebrated national badminton coach Pullela Gopichand, and Arjuna Awardees Ashwini Nachappa and Malathi Holla, 'Run to the Moon' will conclude on July 21 to coincide with the 51st anniversary of man's first landing on the moon.
Unit-linked plans or Ulips continue to be expensive compared to other instruments, say certified financial planners.
Ola Electric's technology team is working hard to iron out the technical kinks that marred the electric vehicle company's hyped online sale of its electric scooters (e-scooters) - the S1 and the S1 Pro - on Wednesday, said company sources. The SoftBank-backed firm is facing technical difficulties in making the website live for the purchase of its e-scooters. According to company sources, the website couldn't go live as there were integration issues.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
Veteran Olympian, Ashok Diwan has sought government help to return home after 'developing some health problems in the USA'.
Even as it gasped for breath, American insurance giant AIG was lobbying the United States Congress hard to get the Indo-US civil nuclear energy deal cleared, reports ProPublica.org.
'At a time when the entire India-US relationship needs to be defined by President Trump and Prime Minister Modi, a fresh look at the liability issue has become urgent,' says Ambassador T P Sreenivasan, former Governor for India at the IAEA.
India's roughly $150 billion outsourcing sector generates about three quarters of its revenue from the United States.
Despite the incessant disruptions and bitter clashes between political parties witnessed in the ongoing monsoon session of Parliament, lawmakers from across the political spectrum will display rare unanimity in the coming days to pass two bills aimed at protecting their interests.
The presidential dreams that the veteran leader from Delaware had harboured since childhood seemed all but over for a third time until he won South Carolina's Democratic Party primary on February 29 last year, forcing most rivals out of the race and making one of the most dramatic comebacks in American political history.
India needs to follow countries such as Singapore who have and are further bolstering their cyber security apparatus.
Bank strike continued for day-two on Tuesday, led by nine unions of public sector banks (PSBs) in the country, opposing government's policy to privatise the lenders. Customers will be inconvenienced to get services such as cash withdrawals, deposits, cheque clearances, remittance services. Government transactions related to treasury as well as business transactions will also be impacted. United Forum of Bank Unions (UFBU), an umbrella body of nine unions, had given a strike call for March 15 and 16.
Two-wheeler prices are likely to rise by 10-25 per cent on account of higher premiums on insurance and commodity prices, mandatory safety regulations and BS-VI emissions that kick in from April 1, 2020.
For automakers, the festive season is about raking it in through ramped up sales and attractive consumer offers. However, despite the robust demand, what may spoil the party this year is a global shortage of semiconductors.
'The rule for millennials is: You can have a career for life.' 'You have to constantly adapt to the needs of the industry to stay relevant.' 'The jobs will be the same, but the skill sets required will be different.' 'Technology will dominate the nature of jobs available in the future.'
China accounts for 90% of imports of mobile phones to India.
The actual expenditure will only be marginally higher and hence, the multiplier effect will be muted.
Top officials said asking employees other than the fund management team to mandatorily invest a fifth of their salary goes against the principle of natural justice.
India and Russia are involved in talks to sort out the nuclear liability issues before they sign an agreement for setting up Units III and IV of the Kudankulam power plant in Tamil Nadu during Prime Minister Manmohan Singh's annual summit with President Putin in Moscow next week.
Large number of buyers has put purchases on hold because of a combination of factors, including high fuel prices, higher insurance cost, and firm interest rates.
Ties between India and the United States have been strained in recent years because of trade policies and patent disputes.
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