For financial institutions, it will be an opportunity to provide better lending options. For instance, customers who pay their overdrafts on time will get access to more credit and probably at a cheaper rate.
Nikunj Saraf, Vice President Choice Wealth, answers your mutual fund queries.
There will be different ways of returning the money, depending on the profile of the depositors and the amount, predicts Tamal Bandyopadhyay.
'There will be partnerships between banks and fintech firms, but there will also be areas where they will be direct competitors.'
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
Here's the full text of address to the nation by President Ram Nath Kovind on the eve of the Republic Day 2022.
While the company insisted it had enough spectrum across circles, analysts said the company might soon need to acquire some spectrum to ensure uninterrupted service.
Income tax collection, by way of advance tax and TDS, in the April-June quarter was about 80 per cent of what was collected in the same period last year.
Apart from fulfilling banking services, one can access more than 100 e-commerce sites, book tickets, and even pay for small value groceries through the app. The bank is now proposing to allow other banks to use this to serve their own customers.
The government has been taking steps to promote cashless or digital transactions to take India towards a less-cash economy
Although the industry is disappointed with the government decision not to lower spectrum prices at a time telcos are saddled with over Rs 4-trillion debt and an estimated Rs 1.43-trillion licence fee dues, the DCC has relaxed the payment structure to offer some relief to the financially stressed sector.
Nilekani said new-age technology markets work on a winner-takes-all basis.
Bob van Dijk, chief executive officer of Naspers, is now betting on companies in food tech, payments, travel and other consumer sectors to tap the potential of the Indian market.
Jio Platforms is expected to use its 388 million mobile phone subscribers as the cornerstone of an e-commerce and digital services business to rival Amazon and Walmart's Flipkart.
The Indian financial system's asset quality improved despite the pandemic, but it could be due to special dispensations by the regulator, and banks would likely see increased stress on their books once the schemes expire. According to the annual trend and progress report of the Reserve Bank of India (RBI) released on Tuesday, the data available for this financial year so far indicate that banks' bad debts have moderated while provision coverage ratios (PCRs), capital buffers as well as profitability indicators have improved relative to pre-pandemic levels.
A bench comprising Chief Justice T S Thakur and Justice D Y Chandrachud said, "We will examine both aspects (inconvenience and constitutional validity) of the matter. Come on Friday at 2 pm".
Stressing that both the government and the opposition have 'important roles to play', the President said, "While giving expression to their political ideas both must move forward in tandem to ensure that development of the country and welfare of its people are promoted consistently."
In a filing with the US Security and Exchange Commission on Friday, Walmart said it would allow the initial public offering of Flipkart in four years at a valuation no less than what it invested in the e-commerce firm, if a grouping of minority shareholders asks for it.
Going by the pace, almost 80 per cent of the demonetised currency is expected to be replaced by end-February.
Unlike most MF distributors in India, Paytm Money will be offering low-cost direct plans, which don't charge for distribution expenses
The government on Monday announced a one-time Rs 10,000 interest-free festival advance to all its officers and employees as part of plans to increase consumer spending to spur demand in the economy.
Becoming a unicorn is surely a marker for a company in its growth story, but it's not a major achievement nor is it a turning point of any significant worth.
Exchanges believe its legal status may now change, with the government pushing for digitised transactions.
While Bihar and J&K have the least proportion of bank account holders using debit cards at PoS machines, Telangana's record is the highest.
A Europe-like cyber security defence alliance is the need of the hour, say banking technology experts.
But Trump is about to announce his candidacy for president in 2024. And it is not clear if Florida Governor Ron DeSantis, the present hero of disenchanted Republicans, or Biden, who says he might seek re-election (but will decide in 2023), can checkmate Trump, notes Shreekant Sambrani.
Retailers in the food, grocery and fashion retail segments to be unaffected
While GST and insolvency laws are among the major achievements of the Modi government, the list of failures include demonetisation, toxic banks, manufacturing hiccups and most prominently bizarre job creation figures. Mihir S Sharma takes a look at the four years of Modi government.
Successful bidders will have to pay 25 per cent of the amount upfront for sub 1 GHz, and 50 per cent upfront for higher frequency bands.
The company is modelling its many ventures on Alibaba in China.
Either drivers were blissfully unaware of the requirement or they hadn't bothered to get one installed in their vehicle.
In 2015, Infosys, under the leadership of then CEO Vishal Sikka, had bought Israeli automation technology firm Panaya for around $ 200 million and e-commerce service provider Skava for $1 20 million. The buyouts were mired in controversy owing to allegation of over-payment apart from not being an ideal fit.
In the past few days, many companies, including fashion e-tailer Nykaa, food delivery platform Zomato, logistics and delivery firm Delhivery, insurance discovery platform PolicyBazaar, eyewear retail chain Lenskart, and edtech and online tutoring firm Byju's, have openly spoken about their IPO plans.
Sleep has been a casualty for Vijay Shekhar Sharma, whose wallet company Paytm has a user base of close to 150 million and is working 20 hours a day.
Only those who stick to the old I-T regime will get this benefit.
E-commerce firms Amazon, Flipkart, and others are expected to witness blockbuster festival season sales of around $9 billion this year, surpassing pre-pandemic sales of $5 billion in 2019. The pandemic has accelerated the shift to e-commerce, with more consumers shopping online at a higher frequency than last year, observed analysts. This year's festival sales (gross merchandise value or GMV) are expected to grow 30 per cent year-on-year (YoY) to $4.8 billion during the first week of the season and potentially clock over $9-billion GMV during the whole festival month, revealed consulting firm RedSeer's e-commerce festival season report.
While the Delhi government announced that schools will not be allowed to hike fees during the lockdown period and only tuition fee will have to be paid, Maharashtra has said parents can lodge complaints with district education officers if schools demanded fees. The Gujarat government had on Monday announced that private schools will not hike fees for an year. The West Bengal government has appealed to schools to refrain from hiking fees.
Central bank raises red flag, warns of potential risk
'Allocate some parts of one's surplus income towards cryptocurrencies, considering the immense growth potential of this emerging asset class.'
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