Bank strike continued for day-two on Tuesday, led by nine unions of public sector banks (PSBs) in the country, opposing government's policy to privatise the lenders. Customers will be inconvenienced to get services such as cash withdrawals, deposits, cheque clearances, remittance services. Government transactions related to treasury as well as business transactions will also be impacted. United Forum of Bank Unions (UFBU), an umbrella body of nine unions, had given a strike call for March 15 and 16.
Mody, the returning officer for the presidential election, said 115 nomination papers of 94 persons were received till Wednesday, of which 107 were rejected for not meeting the required criteria.
Britain withdraws the 20-pound note featuring the image of composer Edward Elgar will be withdrawn from circulation
That's the only way to convince those who have money to return to the bank fold, ditching other asset classes, says Tamal Bandyopadhyay.
The Taliban knows that Washington holds the key, points out Ambassador M K Bhadrakumar.
According to reports, public transport and banking services remain partly disrupted for the second day in some states.
After months of denying there was a liquidity problem, Governor Raghuram Rajan has reversed course.
CoinSwitch has 7.21 times more cash holdings in rupees, compared to that held by its users on its platform.
'We are opening stores in towns that are unheard of where the attachment to jewellery is strong and accompanied by the Tata brand pull.'
The impending default on the IMF loans leaves Greece sliding towards an exit from the euro.
The correlation between withdrawal of deposits and the Covid death rate is stark, reveals Tamal Bandyopadhyay.
A senior finance ministry source said making the use of debit cards and e-wallets compulsory across the board is legally untenable, but banks have been asked to insist their account holders use these instruments
Last August, RBI gave in-principle approval to 11 applicants.
TMFs invest in a public index, so investors know beforehand which instruments the fund will invest in.
They are not only coming up with whacky names to grab attention but are also stretching the definition of e-commerce.
The ambiguity arose after notices were sent to lenders for non-payment of service tax under the pre-GST regime
The war between hackers and banks over ATM security will be dynamically redefined, notes Atanu Biswas.
The Reserve Bank is expected to go for another rate hike of 0.40 per cent at the scheduled review of the monetary policy next week, a foreign brokerage said on Friday. The central bank's rate setting panel will follow it up with a 0.35 per cent hike in rates at the next review in August, or make it into a 0.50 per cent hike next week and a 0.25 per cent increase in August, to make the total quantum of rate hikes at 0.75 per cent, the report by Bofa Securities said. On May 4, the Reserve Bank of India (RBI) hiked rates by 0.40 per cent, and Governor Shaktikanta Das has already called a rate hike at the forthcoming review as a "no brainer" given the pressure to maintain its core mandate of inflation in the targeted band of under 6 per cent.
The top court said in order to declare whether the exercise is academic or infructuous, it needs to examine the matter since both sides are not agreeable.
Sitharaman said economic slowdown seems to have bottomed out and the coming festive season will help the economy start looking up.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
'Very few of small investors stay invested for those three or four or five years.' 'If there's like a six month, one-year period when market is not doing well, you exit.' 'After the market has run up, you get in again.' 'This way you will never make returns.'
Before the pandemic hit the world and led to shutdowns, the company had received nearly half a dozen offers. But bidders are now withdrawing. They want to reassess the situation. They want to conserve cash and avoid acquisition.
"All restrictions have been removed except on savings bank account of Rs 24,000 per week. This (removal of withdrawal limit) is also a matter of time," Economic Affairs Secretary Shaktikanta Das said.
Improved credit profile may make you eligible to transfer your existing home loan to another lender at a much lower rate.
Riding on the back of fresh inflows into various schemes, the MF industry's AUM totalled Rs 7.20 lakh crore (Rs 7.2 trillion) -- a 24 per cent rise over the previous month, Crisil FundServices said in a report. During July, FIIs invested over Rs 11,600 crore (Rs 116 billion) in Indian equities, while MFs bought Rs 1,825 crore (Rs 18.25 billion) shares, as per data available on the website of Securities and Exchange Board of India.
Following the 30-day moratorium placed on Yes Bank, asset management companies have asked their clients, who have bank accounts with the troubled lender, to furnish details of alternate accounts for receiving redemption payouts. Redemption is the return of an investor's principal on a fixed income security such as a bond, mutual fund or preferred stock.
The PFI, formed in 2006 in Kerala and headquartered in Delhi, called the raids a gimmick and an attempt to divert attention from the farmers' issue.
Her speech was laced with Hindi, Urdu, Sanskrit and even Tamil verses.
US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, and its audit committee, providing data and alleging that there have been significant financial irregularities to the prejudice of public shareholders, banks, creditors, and third-party suppliers. Amazon has said this warrants a thorough and independent examination of all relevant facts and related-party transactions, including of past financial years, by an independent agency. Separately, Amazon has written to Securities and Exchange Board of India Chairman Ajay Tyagi, seeking the withdrawal of the regulator's conditional approval granted to FRL related to the merger deal between the Future group and Reliance.
As we say shalom to 2016, the key drivers for the markets in the year ahead have become more obvious, says Neeraj Gambhir, managing director and head of fixed income, India, Nomura. First, there is a surging dollar. Second, rising commodity prices. Then, we have the effects of demonetisation.
The failure of SVB was due to idiosyncratic reasons, but shows how higher rates can expose fault lines in unforeseen places, observes Neelkanth Mishra.
The government on Tuesday extended the deadline for filing income tax and GST returns, raised the threshold of default that could trigger insolvency of a company, and waived charges on cash withdrawals from ATMs of other banks as a precursor to a broader stimulus package for the economy distressed by the coronavirus outbreak.
The govt has a lot more to do then just open bank accounts for the poor in the Jan Dhan scheme.
The economic affairs secretary said that the focus is on production and supply of Rs 500 and lower denomination notes.
While Reliance Retail did not comment, sources said the company will have to follow order, at least in Delhi.
The ten central trade unions have demanded a cash transfer of Rs 7,500 a month to all families that do not pay income tax, free ration of 10 kg per head in a month to all the needy, expansion of the Mahatma Gandhi National Rural Employment scheme to cover more days of job, withdrawal of labour codes and farm bills, halt on privatisation, universal pension coverage and withdrawal of "draconian" circular on forced premature retirement of government officials.
Sharad Pawar reckons that the NCP has value as a united, going concern, not as a gaggle of leaders in search of followers, notes Shreekant Sambrani.
History would not see the institution kindly if it continues to avoid, as appears to be the case, hearing and deciding some of the most pressing issues of our time, asserts Aakar Patel.
