'The new ceiling will cover around 93 per cent of all deposit accounts, up from 90 per cent earlier,' notes Tamal Bandyopadhyay.
Indian economist Kalpana Kochhar, who heads the Human Resources Department of the International Monetary Fund, is leaving the organisation to join the Bill and Melinda Gates Foundation, the IMF announced on Wednesday. Kochhar, who served in various senior positions during her three decades at the IMF, will retire on July 30, it said.
The Archery Association of India (AAI) also have roped in two-time Italian World Cup winner Sergio Pagni, who is accompanying the compound team to the Turkey World Cup.
Asked about top Swiss bank UBS AG, reeling under criticism for sheltering American tax evaders, agreeing to US government's demand for disclosure, Kochhar generally hedged queries saying Indian banks were not in that kind of business. Black money had become a major issue in the run up to the Lok Sabha polls in April-May, with BJP leader L K Advani claiming that $500 billion of Indian money was stashed in banks abroad.
'This was a film, a story that had never been told before.'
'I'm pitching India for the strengths we offer, including the English language, engineers, doctors, nurses, professionals, innovative talent of startups.'
'If money is spent on good projects, then it is explainable, especially in deflationary circumstances. To boost demand, there is a need to increase spending,' Justin Yifu Lin, chief economist, World Bank.
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
Accepting Odisha's proposal of constructing an additional 162 cyclone shelter houses as they helped in providing safe stay for people after evacuation from the coast, WB team agreed to provide assistance of $55 million for the purpose, the sources said.
'Hamas is going to be prepared. There will be booby traps and tunnels; it's going to be door to door fighting.'
There is mounting evidence that suggests that Omicron subvariants -BA.4 and BA.5 - are infecting people who have been vaccinated.
Under its plans to increase the retail base in India, HDFC Bank Ltd is to open another 100 branches in this fiscal, taking the total network to around 300 by March, and set up 1,500 point of sales (POS) every month in the country.
India's first-ever Olympic medallist in women's boxing Mary Kom has been honoured with the Global Indian Icon of the Year award at the annual UK-India Awards in Windsor.
'We will see a lot of investments from the private sector.' 'As long as we are not impacted by some global events, I think we will be in a strong place.'
Modi wants the BJP to gets an additional 10% of the vote share from what it won in 2019. Plans are afoot to get new faces to replace MPs with poor chances of winning. Sources say more than 100 MPs are like to be axed, notes Modi biographer Ramesh Menon.
'While foreign institutional investor flows are still negative, they will turn positive in the latter part of 2023 as India's resilient growth becomes perceptible.'
Billionaire Gautam Adani's son Karan will helm the cement firms his group has acquired to become India's second largest cement player and extend his burgeoning empire that spans from ports and energy to airports and telecom.
After the recent attack on debit cards exposed the gaps in their security systems, banks are getting serious about data privacy.
Pakistan Prime Minister Nawaz Sharif has said that the Indus Water Treaty was a mutually agreed arrangement between his country and India brokered by the World Bank and no one country can unilaterally separate itself from the treaty.
Friday will be a landmark day for domestic markets, with all the listed stocks entering the professed T+1 (trading plus one day) settlement cycle. About 200 stocks, which account for more than 80 per cent of India's market capitalisation, will be settled on a next-day basis, with effect from January 27. This will evidently complete the transition to the T+1 cycle that started in February 2022 with the bottom 500 stocks in terms of market value.
The academic prize is sponsored by the Deutsche Bank Donation Fund and carries an endowment of euro 50,000.
The regulatory changes brought in by the insurance regulator and the amendments proposed to the Insurance Act by the Centre may herald a new dawn for the sector in India. This may result in insurers bringing out more consumer-led products, top honchos of general insurance companies of the country concurred at the Business Standard BFSI Insight Summit 2022.
Home loans also pose lower bad-debt risks for the banks than corporate loans.
The plan is to offer the ratings of drivers to insurers, which can then customise their premiums -- a higher score meaning a lower premium, for instance, and vice-versa.
'Continue with your SIPs to get the benefit of lower average prices in this challenging market environment.'
WhatsApp's advantage is that it is the first app millions of Indian check first thing in the morning and innumerable times during the day and night.
India's economic growth slipped to 6.7 per cent in '09, mainly on account of the impact of the global financial meltdown that started in the US in 2008.
CEO Shashi Arora discusses his roadmap for Airtel Payments Bank with Karan Choudhury.
The combined market-cap of all listed Adani group firms has plunged nearly Rs 7.11 trillion since January 24 when the Hindenburg report was made public.
'With technology advancing rapidly, the need for branches is declining.'
'By not letting bankrupt banks fail, we have discouraged ordinary folk from taking precautions while choosing their bank or at least when they hear bad news about their bank,'says S Muralidharan, former MD, BNP Paribas.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
Walmart CEO Douglas McMillon came first in the CEOWORLD magazine's global ranking of the best chief executives across all industries for 2019.
European Investment Bank to set up office in India.
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
Prime Minister Narendra Modi hailed as "historic" the jump.
New investment projects announced in the manufacturing sector declined in the three months ended June 2023. The value of new projects was lower than in the March quarter, as well as the year-ago period, shows data from project tracker the Centre for Monitoring Indian Economy (CMIE). The new project announcements worth around Rs 85,000 crore in the manufacturing segment in June were a 48 per cent decline from the Rs 1.6 trillion in March and a 66 per cent decline from the Rs 2.5 trillion seen in June 2022.
Advanced economies will be back on track by 2024, but developing economies will be 5 per cent below where they would have been otherwise, IMF's Gita Gopinath said on Wednesday. Economies worldwide have been adversely impacted by the coronavirus pandemic and are slowly coming back into the recovery path. The First Deputy Managing Director of the International Monetary Fund said the war in Ukraine has been a major setback to the global recovery.
India's per capita average annual water availability is reducing.
'At a time when there's a lot of conversation happening around how AI has made art directors and production designers jobless, we will simply say that if your work speaks for you, you will never be out of work.'
