IndusInd Bank on Sunday said accounting lapses in the derivative portfolio will cost the bank Rs 1,960 crore in FY25. A bank-appointed external auditor has determined cumulative adverse accounting impact on P&L at Rs 1,959.98 crore as on March 31, which is similar to the amount disclosed on April 15, IndusInd Bank said in a regulatory filing.
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.
Ask rediffGURU Reetika Sharma your insurance mutual fund and personal finance-related questions.
The best course for the government at this time would be to tighten the seat belt a little more, without compromising on its investments in creating better infrastructure and giving a push to privatisation, points out A K Bhattacharya.
Your EPF isn't just a retirement pot. It's a financial safety net you can dip into for life's biggest needs. Here's how these one-time advances work and when to use them wisely.
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
'We deposited money just yesterday, but they did not say anything...'
SP Group chairman Shapoorji Pallonji Mistry on Friday reiterated calls for public listing of Tata Sons to bring transparency, amid infighting among trustees of Tata Trusts which controls a 66 per cent stake in the holding company of the salt-to-software conglomerate. Shapoorji Pallonji family is the single largest minority shareholder with about 18.37 per cent in Tata Sons.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'This marks a turning point for Paytm, with the regulatory environment looking much clearer than it has been in the last two years.'
'All commercial and banking transactions happen in South Mumbai.'
EPFO has simplified PF withdrawals -- fewer rules, faster access, and more flexibility -- while introducing safeguards that make it harder to drain your retirement savings too early.
While wellness-related facilities and activities used to be considered luxury offerings, hospitality industry executives note that it has now become a mainstream expectation among guests.
India's largest IT services firm Tata Consultancy Services (TCS) on Thursday reported a 1.39 per cent increase in consolidated net profit to Rs 12,075 crore in the July-September quarter of this financial year.
Bandhan Bank's managing director (MD) and chief executive officer (CEO) Chandra Shekhar Ghosh (pictured), who has decided to step down, on Wednesday said the bank will need at least three months to identify his successor. He has also written to his employees, asking them "not to worry" over his surprise decision. "Whatever, our experience in the earlier selections, when we selected two executive directors on the basis of that experience we need a minimum three months of time for selection of candidates and then it will go to RBI and then whatever is the time taken by RBI for approval," Ghosh said.
'India is quickly becoming the beating heart of modern chess, and its role as an economic power is more and more visible.'
The staff of public sector banks had gone on a nationwide strike for two days beginning February 10 after discussions with the IBA failed.
'Vigilance' is a dreaded term for PSB employees and there are instances where this fear is misused by the higher authorities to tame their subordinate officials. This fear always deters PSB executives from making decisions -- the fewer the decisions, the less the chance of falling into trouble, points out Tamal Bandyopadhyay.
The Employees' Provident Fund Organisation (EPFO) board has approved liberalised part withdrawals for subscribers, allowing up to 100 per cent EPF withdrawal, and rolled out the 'Vishwas Scheme' to reduce litigation through rationalised penal damages.
'The way the attacks are coming has become much stronger and much wider because of AI.'
Internal discord within the INDIA bloc has led to alliance partners contesting against each other in at least eight assembly seats in Bihar. The Congress, RJD, and Left parties are facing challenges in seat-sharing arrangements for the upcoming elections.
The sales of company shares by 5 senior executives have come under scrutiny as IndusInd shares declined over 30 per cent due to losses incurred by from its derivatives exposure.
Neo banks, along with mid-sized banks, are establishing global capability centres (GCCs) in India, mirroring the expansion strategies of larger global counterparts. This trend is being seen as the next major wave in the country's banking, financial services, and insurance (BFSI) sector.
'Rahul Gandhi's problem is that he doesn't think big.' 'He looks more like an activist, while politics is like a game of chess. You attack and then defend and have a game-plan.'
A chargesheet filed by Andhra Pradesh police alleges former Chief Minister YS Jagan Mohan Reddy chaired a meeting related to a new liquor policy under which outlets would be run by a government entity. The chargesheet details alleged kickbacks and money laundering.
'AI analyses body language, etiquette, and communication skills, providing an in-depth performance matrix and a ranking system to help employees identify areas of improvement.'
The case pertains to the Andaman Nicobar State Cooperative Bank (ANSCB) and its former vice chairman Kuldeep Rai Sharma. Sharma, a 57-year-old Congress leader, is a former MP of the UT (2019-24).
"If HR isn't responsive, it's critical to keep records of all interactions -- e-mails, dates and any conversations you had. If HR fails to help, escalate the matter to higher management or the internal complaints committee," says Smita Shetty Kapoor.
The Chhattisgarh assembly was informed that 177 security and police personnel, including those from paramilitary forces, have committed suicide in the state in the last six-and-a-half years. Family, personal issues, and health problems are cited as reasons.
'The hearing is not adversarial but inquisitorial in nature -- it allows Sebi to examine the context, the strategy, and the intent behind the trades, particularly when algorithmic and expiry-day trading are involved.'
Keeping surplus money in a bank account has become perilous, alerts Harsh Roongta.
Infosys commits to hiring 20,000 graduates amid industry-wide layoffs and uncertainty.
Assam journalist Dilwar Hussain Mozumder was arrested for a second time on Thursday after being granted bail in a previous case where he was accused of attempting to steal bank documents. The arrest came after Mozumder questioned the Managing Director of the Assam Cooperative Apex Bank Limited about alleged financial irregularities. Assam Chief Minister Himanta Biswa Sarma claimed that Mozumder is not a "recognized journalist" as the government only recognizes journalists from print and electronic media.
'Employers increasingly want candidates who can take AI pilots from proof-of-concept to production-ready systems.' 'That requires governance, monitoring, and ROI measurement -- skills that go beyond coding and into business impact.'
Malhotra, behind bars on suspicion of espionage, had been in touch with Ehsan-ur-Rahim alias Danish, the Pakistani staffer at the Pakistani High Commission, since November 2023, a source said.
Breaking his silence after nine years, Vijay Mallya said he may return to India if assured a fair trial.
Union Finance Minister Nirmala Sitharaman will review the performance of regional rural banks (RRBs) after the Budget session of Parliament, according to two people familiar with the matter. The finance minister will review the performance of RRBs after August 13. The review will include discussions on enhancing the digital capabilities of RRBs, said a senior government official.
While a giant, it's a nimble-footed one, and is growing at a speed that even some of its private sector peers find enviable.
Between FY18 and FY24, it doubled its balance sheet. Despite being a late entrant in some segments, it has been able to grab market share, observes Tamal Bandyopadhyay.
Titan, HCL Tech and State Bank of India were also among the laggards. However, Hindustan Unilever, Asian Paints, ICICI Bank, Power Grid, HDFC Bank and ITC were the gainers.
'The statistical confidence bands of the fan charts of the forecasts will provide a better sense of the potential variability of outcomes.'
