All board members and staff of the Securities and Exchange Board of India (Sebi) will be required to declare their assets, liabilities, trading activities, and relevant relationships at multiple stages - at the time of appointment, annually, upon key events, and at exit. This is part of a series of recommendations by a high-level committee constituted by the markets regulator in a bid to overhaul conflict-of-interest and disclosure rules.
Some public sector banks, including State Bank of India (SBI), Union Bank of India, Canara Bank, and Bank of India, are increasing the spread on home loans for new customers to protect margins.
The RBI advisory follows a labour ministry request earlier this year seeking the central bank's expertise to identify gaps in EPFO's investment strategy and fund management practices, including accounting, risk management, and internal governance.
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
'The informal sector can grow at a 100 per cent rate -- we have to plan big.'
Over 70 scientists, environmentalists, and former bureaucrats are urging the Indian government to reconsider the Great Nicobar Island project, citing environmental and social concerns.
The Enforcement Directorate (ED) has filed a chargesheet in the National Herald case, accusing Congress leaders Sonia Gandhi and Rahul Gandhi of a "criminal conspiracy" to "usurp" properties worth Rs 2,000 crore of its public company AJL by transferring 99 per cent shares for just Rs 50 lakh to their private company Young Indian. The ED has named Sonia Gandhi as accused no 1 and Rahul Gandhi as accused no 2 in the chargesheet, which was filed under various sections of the Prevention of Money Laundering Act (PMLA).
'The new Bill introduces no policy or rate changes, leaving financial planning strategies largely unaffected.'
'The considerations for choosing between the old and new tax regimes remain essentially unchanged.'
'Choose an FD tenure that provides a balance between returns and the horizon for which you can invest.'
Markets regulator Sebi on Wednesday barred former CEO of IndusInd Bank, Sumant Kathpalia, and four other senior officials from accessing the securities markets in connection with an alleged insider trading in the bank's shares. In addition to the market ban, Sebi has impounded Rs 19.78 crore collectively from the five individuals, according to an interim order passed by the regulator.
Cites steep rise in provisioning for restructured standard assets.
'Understand your financial goals. Next, categorise them by size. Then evaluate your investment options.'
The lender, however, is not likely to reduce its base rate to which all loan rates are linked.
When costs go down, interest rates will go down, says managing director and CEO Aditya Puri.
Indian banks, which are increasingly getting worried due to asset-liability mismatch, have sought the government's approval to float tax-free bonds.
In an effort to grab a share of the hefty Diwali bonus to employees in government and corporate sector, country's largest lender State Bank of India may raise the interest rate on term deposit rates in next few days.
'Going forward, the encouragement would be to move to the new tax regime.'
Regulator Irdai on Friday directed SBI Life Insurance Company to takeover the policy liabilities of around two lakh policies along with assets of Sahara India Life Insurance Co Ltd (SILIC) with immediate effect. The decision was taken at the meeting of the Insurance Regulatory and Development Authority of India (Irdai) in view of deteriorating financial health of the SILIC. "The Authority has identified SBI Life Insurance Company Limited (SBI Life), which is one of the largest life insurers in the country with satisfactory financials, as the acquirer insurer of the life insurance business of SlLIC.
In a move that may set the tone for other players, State Bank of India, the country's largest lender, has decided against raising interest rates for the time being. The decision was taken at a meeting of the assets-liability committee on Saturday.
Fugitive businessman Vijay Mallya has said that he will pursue relief for the Enforcement Directorate and banks taking more than two times the debt he owed. His remarks came following a statement by Finance Minister Nirmala Sitharaman in Parliament about recovery of over Rs 14,130 crore from his attached assets.
The notice requested Rashid or a representative of his to appear before the district expenditure monitoring committee within two days to address the discrepancy and ensure timely submission of the expenditure report to the Election Commission of India.
In a recent townhall meeting, creditors of WazirX pressed founder Nischal Shetty and the restructuring legal team for solutions, seeking representation on the committee of creditors (CoC) and expeditious restructuring within four months, and asked for clarity on redistribution of potential gains from future crypto market upswings.
'The Casa ratio is at 33.4 per cent, which has to keep improving. Right now, there is a bit of liquidity pressure in the market.'
If true then it would be a major disruption in the industry
Urban housing mortgage major HDFC announced that it will cut its lending rates by the end of the week.
'We have a plan to plough back a 'This year in the first half we had profits of more than Rs 31,000 crore.' significant amount of profits this financial year.' 'We have seen this organic plough back of profit is one of best ways to support the equity of the bank.'
Banks have issues with their balance sheet profiles, say PSB executives.
e of them requires MPs to follow the norms including the Code of Ethics, which mandates them not to take gifts that may interfere with honest and impartial discharge of their official duties.
A host of lenders, including State Bank of India, IDBI Bank, Indian Bank and Andhra Bank, have lined up meetings of their asset-liability committees this week, to review their lending and deposit rates.
The festive season starts from August and last till December.
An initial reading of the guidelines indicates two factors - potential rise in borrowing cost and lower returns on investment book - could hit the spread of NBFCs.
Chatterjee threatened to refer their names to the Privileges Committee for necessary action if the declaration was not furnished, sources in the Speaker's Secretariat said in New Delhi on Wednesday.
It's not necessary to use only external benchmarks, there are multiple avenues to meet the requirement that the RBI wants, the bank said.
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