If the banks throw caution to the winds for building loan books, the hydra-headed bad loans may resurface and spoil the party, warns Tamal Bandyopadhyay.
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The decision to increase the MSPs (Minimum Support Prices) was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi. MSP is the rate at which the government buys the grain from farmers. Currently, the government fixes MSPs for 23 crops grown in both kharif and rabi seasons. Sowing of rabi (winter) crops begins from October immediately after the harvest of kharif (summer) crops.
Telecom operator Bharti Airtel on Monday announced 20-25 per cent tariff hikes for various prepaid offerings, including tariffed voice plans, unlimited voice bundles and data top-ups, and said the new rates will come into effect from November 26. The entry-level tariffed voice plan has been raised by about 25 per cent, while for unlimited voice bundles, the increase in most cases is about 20 per cent. Sunil Mittal led telco -- whose India mobile customer base stood at about 323 million at the last count -- has also increased the tariffs for data top-up plans by about 20-21 per cent
Shifting to floating rate deposits can work as an anaesthetic gel for some customers, points out Tamal Bandyopadhyay.
Would you, dear men, also fast for your wives for her longevity?
All India average retail tomato price, which has shot up by 63 per cent to Rs 67 per kg over the last year due to unseasonal rains, are likely to soften from December with the arrival of fresh crop from northern states, the government said on Friday. In the case of onions, retail prices have substantially subsided below to the level that prevailed in 2020 and also 2019, it said. "Tomato arrivals from north Indian states will start from the beginning of December itself, which will add to availability and lead to fall in prices.
India's wheat exports could touch a new record of 10 million tonnes in 2022-23, up from a record seven million tonnes in the current financial year, if global market conditions remain choppy and no curbs are imposed on outbound shipments. That is the bullish estimate by officials from global trading firms and market watchers who say the Russia-Ukraine crisis has not only attracted global buyers to India but also pushed the price of Indian wheat from around $320 per tonne (FOB) to over $360 per tonne in less than 10 days. Food secretary Sudhanshu Pandey told reporters that wheat exports till February-end have already reached 6.6 million tonnes and by the end of March, outbound shipments will reach seven million tonnes.
Use of non-vegetarian ingredients and labelling them vegetarian would offend religious and cultural sentiments of strict vegetarians and interfere in their right to freely profess their religion, the Delhi high court has said.
Both red and yellow onions have been imported from Turkey, Egypt and Afghanistan. The shipments are landing at Mumbai port.
The company said the capital infusion will help it continue investments in future roll-outs to build large network capacity and create content and technology partnerships
More than three weeks have passed since the Reserve Bank of India's (RBI's) new guidelines on e-mandates for recurring payments came into effect but consumers are still taking to social media platforms to complain about the disruptions they are facing. This comes as most stakeholders in the ecosystem have not put in place systems in accordance with the new rules, resulting in many transactions not going through. Industry sources said most banks are still not ready, especially the smaller ones.
Dietician Komal Jethmalani provides expert help.
He may try to keep it as natural as he can but there's no doubt that he's stolen a piece of everyone's heart, and some of these pictures are proof of that.
The wholesale food index rose 2.88 per cent year-on-year.
The move will avoid hoodwinking the system and reduce the blind spots, which will ultimately lead to protection of depositors' money.
Share your photos and tell us how you are enjoying the festival.
According to the Central Water Commission, of the 91 major reservoirs in the country, 62 water bodies reported 80 per cent or below of normal storage.
The World Bank on Tuesday projected India's economy to grow at 8.3 per cent in 2021 and 7.5 per cent in 2022, even as its recovery is being hampered by an unprecedented second wave of the COVID-19, the largest outbreak in the world since the beginning of the deadly pandemic. The Washington-based global lender, in its latest issue of Global Economic Prospects released here, noted that in India, an enormous second COVID-19 wave is undermining the sharper-than-expected rebound in activity seen during the second half of Fiscal Year 2020/21, especially in services.
Total revenue dropped by 10.5 per cent to Rs 19,634 crore in the fourth quarter of 2017-18
Retail inflation, based on Consumer Price Index, hit a 15-month high of 4.88 per cent in November
The current wage revision for PSBs, as well as some private lenders, is due from November 2017 for five years - up to October 2022.
Customs officials are busy at ports and airports, scanning passengers to ensure that COVID-19 virus-affected people are traced. So, officials are not able to focus much on baggage checking. This could lead to more gold getting smuggled into the country as luggage check at airports is now random unlike earlier where every bag was checked thoroughly.
All eyes were as India as it celebrated its 69h Republic Day on Friday with the 10 ASEAN leaders as chief guests. The mood was upbeat across the country. Rediff.com brings you glimpses of the celebrations.
When, recently, Bharti Airtel announced a Rs 21,000 crore rights issue, analysts pointed out that its structure was similar to that of Reliance's issue in June 2020. One similarity is that shareholders in both companies have to pay only 25 per cent of the money on application. The rest is to be paid in two tranches. In Bharti Airtel's case, it is within 36 months; in Reliance Jio's, it is within 17 months.
India is expected to harvest 291.95 mt of foodgrain in 2019-20
Till date, MP has procured around 12.77 million tonnes of wheat, which is expected to reach 13 million tonnes by the time the process ends in the next few weeks.
Two more victims of the July 13 serial blasts, who had been admitted to the J J hospital in Mumbai, succumbed to their injuries on Saturday, taking the death toll in the terror attack to 23.
Airtel Xstream will allow its subscribers to access live TV, video, music, news and sports on an over-the-top smart stick, interned-enabled set top box, and handheld devices.
A rise in import duty could be a reason for increase in illegal consignments, say experts.
Aman, 19, had died on March 8, 2009, after being ragged by final-year students -- Ajay Verma, Naveen Verma, Abhinav Verma and Mukul Sharma -- of Rajendra Prasad Medical College and Hospital in Tanda, some 65 from Dharamshala.
Modi and five others -- Harish Krishnamachari of Mumbai, Ajay Verma of New Delhi and World Sports Group office-bearers Venu Nair, Andrew Georgio and Seamus O'Brien -- have been asked to appear for an inquiry either on January 25, 26 or 28, a date suitable for them, Police Commissioner T Rajendran told reporters on Thursday.
The reforms will help FPOs procure directly from farmers, something that they have been pressing for long.
If the earnings in the first quarter of the current financial year are an indication, most banks, particularly those majority-owned by the government, have fared well, reveals Tamal Bandyopadhyay.
Banks have been demanding a single centralised registration system, like at present, as they feel multiple registrations would create procedural and compliance problems.
The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding firm a 'debt free company'.
Here's a recap of events that occurred in India in the past 24 hours.
The RBI is still a small player in international gold buying among central banks. But in terms of total gold bought in 2019, it is the sixth largest buyer with 25.2 tonnes purchases in the first 10 months of 2019.
Was Border Roads Organisation commanding officer Lieutenant Colonel Ajay Verma killed by militants because he did not pay heed to their demands and the government failed to provide him adequate security?Verma had written two letters to the district administration and police in Kishtwar about threats from militants and also demanded security cover for the men of the organisation, official sources told PTI. But the state failed to provide them security.
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