10 per cent for those who earn up to Rs 30 lakh a year and 25 per cent for those who earn more, suggests T C A Srinivasa-Raghavan.
After removing three PSBs - BoI, Mahabank and OBC from the framework, RBI, on Tuesday, took out three commercial banks - Allahabad, Corporation and Dhanlaxmi from the said list.
Bank of America has given shares worth nearly Rs 11 lakh (Rs 1.1 million) to Mukesh Ambani as part of annual retainer fee to the billionaire industrialist, who joined the United States banking giant's board last month.
'India is not so distant from years of high and entrenched inflationary expectations that it should start trying to play games with the economy the way the West's central bankers think they are entitled to,' argues Mihir S Sharma.
'It seems to be a bit of an aberration. It should be set right; there is a proper mechanism in place. In the normal course, the state police do not have any jurisdiction on central government employees,' the official said.
Since January this year, Indian exporters have begun to dread the shipping news. That's because most of it would be about another lot of shipping companies deciding to avoid Indian ports on account of delays.
Land plots filled with wild grasses near Ghazipur, Tikri and Singhu protest sites have been converted into well-curated nurseries with a variety of flowers like marigold and rose.
Will Sunny Leone score yet another hit?
IMAGES from Europa League matches played on Thursday.
B Sriram, the senior-most managing director at SBI, along with fellow MDs Rajnish Kumar, P K Gupta, and Dinesh Kumar Khara had been interviewed for the post
The Industrial Finance Corporation of India is likely to be merged with the Punjab National Bank or the Bank of Baroda and a final decision is expected to be taken shortly.
Bank of Rajasthan is keen on increasing its stake in Bharat Overseas Bank (BhOB) as part of its efforts to become a national level bank.
Friendships are not merely severed, but built over scuffles. And just about anything can stir things up -- a long-standing feud, a pointless stare, a disrupted moral stance, a fist that ricochets off a face and smacks another face in the near vicinity, observes Sreehari Nair.
Need to conserve profits to strengthen the capital base is driving the effort.
At 13, Anoushka Jolly has received funding for her app Kavach through which students like her can report incidents of bullying and harassment anonymously
'In today's world, more than ever, we feel the need for comfort, for love. There is so much to reassure us here -- the beautifully captured billowing embrace of the smoke, the golden light, the subject's expression as he prepares the food for sharing.'
Five other civilians injured as Pak troops shelled border out posts along the IB.
The threshold for identification of BOs of FPIs on controlling ownership interest is 25 per cent in case of companies and 15 per cent in case of partnership firms
The Assam-Mizoram violence is an outcome of BJP trying too hard to 'integrate' distinct northeastern states, explains Shekhar Gupta.
The pledging of gold to tide over a balance of payments crisis in 1991 became an emotive national issue at the time.
A look at this week's hits and misses.
The Dubai branch of Bank of Baroda has been directed by courts in Dubai to pay a sum of over $103,869 to an Indian company in a bank guarantee case.
Liverpool's Trent Alexander-Arnold scored with a spectacular strike as they overcame the loss of three players to suspected positive COVID-19 tests and conceding an early goal to beat Newcastle United 3-1 in the Premier League on Thursday.
The US president-elect twisted his ankle on Saturday when he slipped while playing with Major, one of his two German shepherd.
The former liquor baron owes several banks a total of as much as Rs 9,000 crore
The final guidelines to link the interest rate to external benchmarks will be issued by the end of this month
Foreign portfolio investors (FPI) have pumped in a net sum of Rs 49,553 crore in Indian markets this month so far on back of high liquidity coupled with improving global indicators and clarity after the US presidential elections. FPIs invested Rs 44,378 crore in equities and Rs 5,175 crore in the debt segment, taking the total net investment to Rs 49,553 crore between November 3-20. In October, FPIs invested a net sum of Rs 22,033 crore.
Crisis of growth is worsened by the challenging global environment and policy missteps. Returning to 9 per cent growth trajectory will be a tall order.
Indian companies are unable to raise prices because 35 per cent of the drugs sold in the country come under the government's price control order.
Private equity (PE) is set to play a bigger role in banks. Of 21 recommendations accepted by the Reserve Bank of India (RBI) out of 31 made by its Internal Working Group (IWG), its stance on non-promoter holdings in private banks is seen with excitement, though it doesn't refer to PEs explicitly. On non-promoter holdings in these banks, the RBI said this will be capped at 10 per cent of the paid-up voting equity share capital in the case "of natural persons and non-financial institutions and entities"; and "at 15 per cent for all categories of financial institutions, entities, supranational institutions, public sector undertaking, or the government." While this is a modification of the IWG's stance for the non-promoter holding in banks at up to 15 per cent, it does open up a huge window for PEs, all the same. This is because, while the RBI has remained silent on the eligibility of industrial houses for bank licences, fresh high-quality capital in large amounts can only come from PEs.
Mani Ratnam is experimenting with a real-life historical in Ponniyin Selvan, points out N Sathiya Moorthy.
With the rupee fast losing value against the US dollar, Finance Minister Pranab Mukherjee on Friday blamed volatility in global commodity prices for currency depreciation and said deteriorating balance of payment (BoP) situation in several Asian countries also put stress on currencies.
With expectations of a significant rise in savings rate and share of working population over next 50 years in India, the current phenomenon of overall surplus in balance of payments may not be a temporary one, RBI deputy governor Rakesh Mohan said.
The widening of the CAD on a year-on-year basis was primarily on account of a higher trade deficit at $50 billion
The Communist Party of China has clipped the wings of Bo Xilai, a popular leader among netizens. B Raman explains why
Bo, who was replaced by Vice Premier and Politburo member Zhang Dejiang, was known in China for his populist Maoists revival campaign and had been seen as one of the leading contenders to join party's powerful nine-member Politburo standing committee, which virtually governs the country.
