Billionaire Gautam Adani has said the decision to withdraw a fully subscribed share sale of the flagship firm of his group was primarily because of volatility in the market. Adani Group company stocks have lost over $90 billion in value since a US short seller made damning allegations. Adani Enterprises Ltd's Rs 20,000 crore follow-on public offer managed to get investors on the last day of the share close on Tuesday.
Events proved that on every count the RBI had accurately predicted both the damage and the lack of benefit. What the RBI was hiding was the fact that Modi had ignored its concerns -- all of which turned out to be true -- and gone ahead anyway, asserts Aakar Patel.
If you fail to make the lump sum deposit before April 5, do so at least before the 5th of the next month (May). That way you will only lose out on the interest for April.
Experts tell Tinesh Bhasin how to pick one to save money as well as some troubles later
If you are have an account with State Bank of India, HDFC Bank or Axis Bank you will have to pay higher charges for using ATM more than five times a month.
PML-N supremo Nawaz Sharif is still in the race for the prime ministerial slot despite his party not securing a simple majority in the Feb 8 general elections in Pakistan, some PML-N leaders said on Monday.
Although the RBI did not give any reason for withdrawal of pre-2005 currency notes, the move is expected to unearth black money held in cash.
The currency with the public is 10.3 per cent higher than it was in the week preceding November 8, 2016 - from Rs17.97 trillion to Rs18.76 trillion.
The central bank is engaged with other financial institutions for investment as part of the scheme to resurrect Yes Bank under RBI imposed moratorium since March 5.
The Reserve Bank on Friday superseded the board of the city-based Abhyudaya Cooperative Bank on concerns emanating from "poor governance" and appointed an administrator to manage the affairs of the lender. In what can be seen as a step that should allay depositors' concerns, the central bank did not put any restrictions or moratorium on deposit withdrawals because of the comfort it gets on the bank's finances, according to people in the know. "(The) action is necessitated due to certain material concerns emanating from poor governance standards observed in the bank.
The flow of money into Non-Resident Indians (NRIs) deposits witnessed a substantial increase, touching $2.14 billion in the first quarter of this financial year (Q1FY24), compared with $349 million in the same period in FY23. The outstanding NRI deposits rose by $2.5 billion, standing at $141.28 billion at the end of June 2023, up from $138.77 billion in May 2023, according to Reserve Bank of India (RBI) data. RBI released the updated data in the bulletin after almost three months.
It was a tumultuous year for the railways as a cash-strapped ministry saw four ministers in quick succession, resulting in indecision and delay in policy making process.
Systematic withdrawal plans in equity funds can spell trouble in a falling market, points out Deepesh Raghaw.
Under the stipulation, banks with cash deposits of Rs 10 lakh (Rs 1 million) and above in a year in any savings account maintained by a person would have to report under the Annual Information Return.
The Aadhaar-enabled payment system, or AEPS, allows consumers who don't have smartphones or debit cards to perform basic banking transactions like cash deposit, cash withdrawal, intrabank or interbank fund transfer, balance enquiry and obtaining a mini statement through biometric authentication at micro-ATMs.
Official sources say that the finance ministry is aware of the possible spike in smuggling activity and has already asked intelligence agencies to tighten their vigilance and come down on the unofficial entry of gold into India.
Mumbai resident Sumesh Pillai tells us how he panicked when the ATM didn't dispense cash and what happened later.
England all-rounder Moeen Ali has withdrawn his name from next month's Indian Premier League auction after discussions with former captain and ECB's Director of Cricket Andrew Strauss. According to an ESPN Cricinfo report, Strauss got in touch with Moeen and his representatives yesterday to discuss his involvement in the tournament as January 21 is the last date for entry into the auctions. Strauss reportedly told Moeen that while the final decision was his, he should also be aware of hectic schedule of the tournament for more than month and half.
In an online chat with readers, Investment Advisor Harsh Roongta answered their queries on the ban on Rs 500 and Rs 1000 notes.
Earlier when Goyal had moved court seeking permission to go abroad, the judge had observed that if he wanted to go abroad, he should first deposit Rs 18,000 crore as guarantee that his company owes to lenders.
Banks with a large ATM network were crying foul over the free ATM usage after RBI, in its draft approach paper on ATMs of banks, had said the use of ATMs of own banks for any purpose and of other bank ATMs for balance enquiries should be free of cost with immediate effect.
Akhil Goel tells us how he lost a huge sum of money without even initiating any withdrawal transaction.
A reader shares his shocking experience at the ATM.
Finance Minister P Chidambaram on Monday retained both his controversial tax proposal -- the fringe benefit tax and the cash withdrawal tax -- but made modifications to offer some relief to individuals as well as corporates.
Qatar returns to the spotlight on Friday little more than a year after the first World Cup held in the Arab world when the relocated and delayed 2023 Asian Cup gets underway amid a seismic shift in football's global order.
Finance Minister Nirmala Sitharaman said: "This will cover 99.3 per cent of the companies. Now only 0.7 per cent of companies will remain outside this rate."
The Walt Disney company has withdrawn its application to trademark the term 'SEAL Team 6', on its toys, games and a TV show, to apparently cash in on the elite unit that killed Osama bin Laden after US Navy declared it would protect its rights.
ArthaKranti wants the government to abolish income tax and 56 other taxes and replace it by a banking transaction tax.
1.46 lakh such consumers have voluntarily given up the subsidy.
On November 8, 2016, Prime Minister Modi had announced the decision to withdraw Rs 500 and Rs 1,000 denomination notes with the ultimate aim of reducing corruption and black money in the economy.
