The Jan-Dhan accounts are zero balance accounts, comes with a life cover of Rs 30,000 per person, and an accidental cover of Rs 100,000. An active user of the account can also get overdraft facility of Rs 5,000 from banks.
Krishnamurthy Subramanian listed land, labour, law, and liquidity as the key areas of big reforms.
Sunak announced that the Immigration Health Surcharge (IHS) would be hiked from 400 pounds to 624 pounds.
Larsen & Toubro (L&T), India's largest construction and engineering player, has lost as many as 14 large orders in the country because companies that don't possess adequate technical expertise and experience, of late, have won the projects by bidding lower, claimed A M Naik, non-executive chairman of L&T. But the company has made up for the losses by winning projects overseas, where it has acquired a sizeable market share amid tough competition from large global players, he said.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
During his lifetime and after, Ambani aroused extreme responses in others.
Farming and agriculture are crying out for a business model innovation, says R Gopalakrishnan.
Chanda Kochhar said the only comforting factor is that investors pouring in money into such startups are 'mature'.
The RBI on April 6 directed all payments service providers to make sure "that the entire data relating to payment systems operated by them are stored in a system only in India."
Stressing that economic growth will only move upwards, the Reserve Bank of India Governor Shaktikanta Das on Friday pegged the GDP growth rate for the next financial year at 10.5 per cent, though a tad lower than the government's projection of 11 per cent. The projection is in line with the estimates in the Union Budget 2021-22 presented in Parliament earlier this week. The Economic Survey, tabled by the government in Parliament recently, has projected that the economy will grow at 11 per cent, up from an estimated historic decline of 7.7 per cent in 2020-21, on account of the COVID-19 pandemic.
'In FY21, as of October, LIC has booked a profit of Rs 18,800 crore through sale of equities.'
Most of the NBFCs do not take public deposits but that does not mean they cannot create systemic risks. The banking system has at least Rs 57,000 crore exposure to IL&FS. Haven't the banks invested public money in IL&FS papers, asks Tamal Bandyopadhyay.
"Throughout our history we've learned this lesson -- when dictators do not pay a price for their aggression, they cause more chaos. They keep moving. And, the costs and threats to America and the world keep rising," Biden said addressing the joint session of the Congress in his first State of the Union.
'It is not that the H1B visa employees are coming in to displace jobs.'
'The Insolvency and Bankruptcy Code cleans up non-performing assets and puts companies in capable and credible hands.'
'At this time, staying in the game is more important.' 'If we do that, then wealth can be generated.'
The McKinsey report said faster employment growth at 12 million non-farm jobs annually is needed in the post-Covid period till 2029-30, up from just four million created each year between 2012 and 2018.
'If you go on with your start up ensure that you put all your might behind it.' 'Ensure that you talk to a lot of people and bounce off your ideas before you go out and make a pitch.'
According to a new report by international management consulting firm Arthur D Little, the worst of COVID-19's impact will be felt by India's most vulnerable in terms of job loss, poverty increase and reduced per-capita income, which in turn will result in a steep decline in the Gross Domestic Product (GDP). "Given the continued rise of COVID-19 cases, we believe that a W-shaped recovery is the most likely scenario for India. This implies a GDP contraction of 10.8 per cent in FY 2020-21 and GDP growth of 0.8 per cent in FY 2021-22," the report said.
Artificial Intelligence will create 2.3 million machine learning jobs by 2020.
Ajit Balakrishnan offers a New Year resolution for our policy-makers.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
A Bangalore-based firm devises a finance system to help rural households access solar energy.
India Inc is shying away from investing in digital technologies.
It is not clear as to whether we are in a bubble in technology stocks. What is clear, however, is that there is no reason why this potential bubble will pop anytime soon, notes Akash Prakash.
The government on Wednesday approved Rs 10,000 crore (Rs 100 billion) 'Fund of Funds for Startups' to support them with an aim to generate employment for 18 lakh persons.
Enthused by India's financial inclusion drive, US-based Accion, one of the biggest micro finance organisations in the world, has renewed its focus in India. Michael Schlein, bottom, left, chief executive officer of Accicon, tells Namrata Acharya in an email interview the Wall Street and Silicon Valley are eager to participate in opportunities presented by the issuance of the small finance and payment bank licences, the expanded banking correspondent opportunities, and the Jan-Dhan Yojna.
After his wide-ranging talks with Modi on the second and final day of his India visit, Johnson said the new defence and security partnership will enable India to strengthen its domestic defence industry as well as help the two countries protect vital shared interests in the Indo-Pacific.
Markets regulator Sebi is contemplating reforms in the IPO norms, especially on the book building, fixed price aspects and certain provisions pertaining to price band, its chief Ajay Tyagi said on Wednesday. Apart from initial public offer (IPO), the regulator is looking into further reforms on preferential issue front, Tyagi said at the FICCI's annual Capital Market Conference. He further said that the focus on review of equity fund raising norms will continue in the near future.
From 50 stores Vimal Textiles aims to have 150 in 3 years.
'It may sound like sacrilege, but does it really matter if the global raters downgrade India for fiscal slippage?' asks Tamal Bandyopadhyay.
National Payments Corporation of India is currently in the process of testing sound-based payments with three companies: PhonePe, ToneTag and UltraCash.
This is the second round of product innovation by Coca-Cola in the country. In the past, the company had launched Sunfil orange juice powder and Vanilla Coke.
Apart from SBI, UPI 2.0 partner banks are HDFC Bank, Axis Bank, ICICI Bank, IDBI Bank, RBL Bank, YES Bank, Kotak Mahindra Bank, IndusInd Bank, Federal Bank and HSBC.
While BlackRock is an existing investor in Byju's, T Rowe joined as a new investor.
The proposed investment will be made over a period of five years in our India operations, which includes an R&D facility at Pune and another centre at Vadodara.
'The smartest businessmen are shopkeepers as their return on investment is better than anyone else.'
Expansion of distribution network, venturing into new markets, supplementing production capacity, and ramping up workforce are all on the cards. Instead of trying to fight with brands having massive war chests, it will pass on the benefits to consumers by offering them phones at lower prices.
At the pre-Budget meeting at Niti Aayog, Modi called for a focussed effort from all stakeholders in order to achieve the target of $5 trillion economy. The participants urged the government to focus on credit expansion, exports growth, governance of PSBs, increasing consumption and job creation.
