'We are also conducting ongoing training and grooming at the branch level to pre-empt such cyberattacks.'
Global fund managers remain bullish on the Japanese stock markets, which is now their most preferred destination in the Asian region. Both Morgan Stanley and Jefferies in their recent reports, have cited their preference for the Land Of The Rising Sun, which is fast becoming the land of the rising equities, too.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'If you are not prudent, you may exceed your budget, and if it happens too often, you may end up in debt.'
Re-rating of Axis Bank's stock may continue in the near-future, believe analysts, as the risk-reward on the stock remains favourable amid healthy financials. The bullish stance comes after the Mumbai-based lender delivered a strong outperformance in the March quarter of fiscal year 2023-24 (Q4FY24) on core pre-provision profit and net profit, with improving asset quality. Axis Bank's net interest margin (NIM) expanded, against expectations, even in a tough market.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The Central Bureau of Investigation (CBI) conducted searches at seven locations across India in connection with a Rs 350 crore crypto ponzi scam. The accused, operating seven modules in different cities, allegedly lured investors with promises of high returns on cryptocurrency investments. The CBI seized digital virtual assets totaling USD 38,414 in cryptocurrency wallets, cash amounting to Rs 34.2 lakh, and digital evidence, including mobile phones, laptops, tablets, hard disks, and memory cards. The agency registered the case under the Indian Penal Code and the Information Technology Act.
The escalating military tension between the two nations, a deluge of information, and the inability to sift through fake and real news can significantly affect the psychological well-being of individuals, said mental health experts.
The Commission concluded that the bank officials had evidently been negligent in failing to compare the signature prior to making payment, notes Jehangir B Gai.
rediffGURU Major Inderpaul Singh (retd) offers career guidance and helps students and individuals handle challenges in their professional lives.
Information-technology (IT) services major Cognizant has kept its full-year guidance on revenue growth unchanged at 3.5-6 per cent in constant currency even as the industry is becoming cautious about macro conditions because of tariff wars.
After Chennai, it is Coimbatore, Madurai, and Tiruchirappalli, that are emerging as manufacturing hubs. Coimbatore is India's top Tier-II city in terms of the number of GCCs, according to a report by Cushman & Wakefield.
Anmol Singh Jaggi and Puneet Singh Jaggi, once hailed as rising stars in India's clean energy sector, are now facing serious regulatory action.
The number of cyberfraud cases has skyrocketed from 2,677 in 1999-2000 to 29,082 in FY24 -- more than a 10-fold increase. The RBI pegs digital payment frauds at Rs 1,457 crore in FY24, up more than five times in a year. It's not just the number of frauds. What's alarming is the growing sophistication of the fraudsters, exposing the vulnerabilities within the financial system, observes Tamal Bandyopadhyay.
Cognizant has said it aims to be back among India's top four IT services companies by 2027 by improving revenue, market share, bagging large deals, and gradual margin expansion. The Nasdaq-listed company does a major part of its business in India, but has trailed peers such as Tata Consultancy Services and Accenture over the last few years as growth tapered, margins squeezed, and attrition soared.
Some major contracts coming up for renewal include TCS' deals with Star Alliance, a consortium of airlines based in Germany, and Nielsen; Infosys' deals with GE Appliances and Daimler; HCLTech's with UK-based life insurer Chesnara; Wipro's with German electric utility company E.ON and Petrobras of Brazil; and Tech Mahindra's with Circle Health.
The Enforcement Directorate (ED) arrested former Haryana Congress MLA Dharam Singh Chhoker from a five-star hotel in Delhi following a brief scuffle. Chhoker, along with his sons, is accused of defrauding over 1,500 homebuyers and siphoning off over Rs 500 crore through their real-estate companies. The ED had been seeking Chhoker's presence in the investigation since May 2022. The politician was caught at the Grappa Bar of the Shangri-La hotel on Ashoka Road. He is currently in ED custody for six days.
10 largecaps stocks which stand to gain from the Budget.
HDFC Bank's latest shareholding data showed that the room for foreign investment has fallen just 5 basis points short of the threshold set by Morgan Stanley Capital International (MSCI) to fully include the stock in its indices. Currently, the index provider has applied an adjustment factor of 0.5 since the foreign room is less than 25 per cent. Removal of the adjustment factor will result in inflows of a massive $4.8 billion (Rs 40,000 crore) into HDFC Bank, according to Brian Freitas, a New Zealand-based analyst with Periscope Analytics.
Currently there are 26 licensed players in the P2P lending sector but only 10-11 are actively operating.
Cracking down on repeated non-compliance of IT norms, the RBI on Wednesday barred Kotak Mahindra Bank from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect after the regulator found "serious deficiencies" in the lender's IT risk management. These actions, the RBI said, are necessitated based on significant concerns arising out of Reserve Bank's IT examination of the bank for the years 2022 and 2023 and the continued failure on part of the bank to address these concerns in a comprehensive and timely manner.
rediffGURU T S Khurana answers readers' personal income tax queries.
The small finance bank model may still be testing the water some 10 years since its launch. According to banking experts, the regulator has taken a cautious approach in granting approvals. Unity Small Finance Bank was the last one to get a licence in the category in November 2021.
In Kerala's society, known for its high material standard of living, plunging into a state of having nothing overnight can be terrible for one's social standing and sense of self-esteem. Rehabilitation entails piecing a community back together after a disturbance and while its aim is noble, the act of reassembling will bring alive disparities and inequalities, explains Shyam G Menon.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
As sludge started solidifying inside the Srisailam Left Bank Canal tunnel in Telangana, rescuers are planning to use sniffer dogs to locate those got trapped, District Collector B Santhosh said on Wednesday.
Public sector banks (PSBs) have delivered significant outperformance over the past three years and the sector has been re-rated. Given the growth and profitability expectations of an 18 per cent return on equity (RoE) over FY24-26, there is still a case for buying at the current levels. While the net interest margins or NIMs may remain range-bound or have a downward bias, there's optimism about possibly better opex ratios and lower non-performing assets (NPAs), plus scope for further credit cost reduction, and healthy treasury performances as interest rates trend down.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Scammers sometimes misuse personal information collected during tax preparation, leading to identity theft or unauthorised financial transactions.
The Bahujan Samaj Party (BSP) in Uttar Pradesh is reviving its 'brotherhood committees', a strategy used successfully in the 2007 elections, to bolster its support among Other Backward Castes (OBCs) ahead of the 2027 state assembly elections. These committees, to be formed in all 403 constituencies, aim to connect with 100 people from OBC communities in each village, acting as ambassadors of the party at the booth level. The BSP sees these committees as a counter to the Samajwadi Party's PDA pitch and a means to consolidate its scattered rural vote bank. The party is also highlighting the 'anti-Dalit' and 'anti-OBC' tactics of the Congress, BJP and SP, hoping to capitalize on perceived grievances and reposition itself as a champion of marginalized communities.
It is 10 years since Bandhan Financial Services became the first microfinance institution (MFI) to receive the universal bank licence. A year later, in 2015, it started operations. Bandhan's entry into banking was seen as a vote of confidence by the Reserve Bank of India (RBI) for the country's microfinance sector. Subsequently, the RBI awarded small finance bank licences to nine MFIs.
Students who are selected for Federal Bank Hormis Memorial Foundation Scholarship 2024-25 will receive 100 per cent reimbursement of tuition fees and certain other educational expenses.
States are mandated to develop and implement 'heat HAPs' for prevention of heat-induced diseases. But most do not go beyond standard advisory on heat prevention.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Tamil Nadu Chief Minister and DMK president M K Stalin announced that his party will file a case in the Supreme Court against the Waqf Bill passed in the Lok Sabha. The opposition AIADMK expressed solidarity with the DMK's stance, while the BJP members staged a walkout from the Assembly in protest. The CM argued that the amendment was passed at the behest of a few allies despite opposition from majority parties and that it is an attack on the Constitution and religious harmony. The DMK claims the bill threatens the autonomy of the Waqf Board and the Muslim minority population.
Road construction contractor Suresh Chandrakar, the prime accused in journalist Mukesh Chandrakar murder case in Chhattisgarh, had allegedly hatched a conspiracy to kill him four to five days before the incident, the special investigation team (SIT) said on Thursday.
A man from Kerala, Ani Thomas Gabriel, 47, was shot dead at the Jordan-Israel border on February 10, according to his relatives. Gabriel's family received an email from the Indian Embassy on March 1 confirming his death. Gabriel and a relative, Edison, were attempting to cross the border with the help of an agent. Edison was also shot but survived and has since returned home with injuries. Gabriel is survived by his wife, Christeena.
'Expect India to keep doing well irrespective of geopolitics.'
If as critics point out, the environmental impact assessment study was commissioned only after the auction process got underway with not all the stakeholders getting to know of it, then the government has already compromised the trust it could have enjoyed with Kerala's public including its coastal communities, points out Shyam G Menon.
'Sushant Singh Rajput threw Rhea Chakraborty out of his house six days before he died.'
