RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
The most common complaint of financial consumers is cumbersome processes, complicated products, usurious charges, and mis-selling of products, which finally don't deliver what is promised or as expect, notes Debashis Basu.
He could have blazed a trail that few Indian judges had. It was a missed opportunity of a lifetime, notes Ramesh Menon.
The Reserve Bank on Monday asked all banks and financial institutions to assess the impact on their balance sheet, asset quality, liquidity, among others, in the wake of the potential threat arising out of the spread of coronavirus disease in India. Several confirmed cases have also been detected in India, which highlight the need of a co-ordinated strategy for handling the emerging situations to protect the resilience of the Indian financial system, RBI said in a notification addressed to banks, urban cooperative banks, NBFCs, payment and small finance banks.
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
Here are the main factors that impact the November 23 elections in the state.
He said trust and confidence were the backbone of any financial system and one should never underestimate the power of ethics and values.
India on Monday expelled six Canadian diplomats and announced withdrawing its high commissioner and other 'targeted' officials from Canada after strongly dismissing Ottawa's allegations linking the envoy to a probe into the killing of Sikh extremist Hardeep Singh Nijjar, in a major downturn in already frosty ties between the two nations.
The Financial Intelligence Unit-India (FIU-India), the national agency responsible for analysing suspicious financial transactions, has received requests from four more offshore crypto exchanges to operate in India again, said a senior government official familiar with the matter. In the beginning of 2024, India had banned nine crypto exchanges - Binance, Kucoin, Huobi, Kraken, Gate.io, Bitstamp, MEXC Global, Bittrex, and Bitfenix - for non-compliance with anti-laundering law in the country.
If indeed the gate opens for big industrial houses, the RBI needs to be smarter than them and demonstrate it through action, not reaction, observes Tamal Bandyopadhyay.
Keeping up his tradition of celebrating the festival with soldiers, Prime Minister Narendra Modi visited Sir Creek near the Indo-Pak border in Gujarat's Kutch district and offered sweets to jawans.
'I had told Fadnavisji that I will be with the party till the Lok Sabha election and I will give my 100 per cent to campaign for the BJP. But ultimately I will have to take this decision (to quit the BJP).' 'When I requested him to see this from the point of view of an elder brother, he could not say anything more after that.'
It has come to light that Rs 25,000 cr cash was deposited in dormant bank accounts while nearly Rs 80,000 cr of repayment of loans was done in cash since November 8
If Maratha activist Manoj Jarange Patil drops a hint of supporting or opposing a particular coalition on the eve of polling on November 20, things may change overnight.
Banks may become more cautious in extending loans, as more and more farmers may take loans, relying on the assurance that a debt relief commission will back them in the event of default.
'Divine experience and a proud moment' is how the 15 couples who were the 'mukhya yajman' for the consecration ceremony at the Ram temple in Ayodhya described the grand event and said that the day will be forever etched in their memories.
Terming Naxals the biggest human rights violators, Union Home Minister Amit Shah on Monday said security forces have been carrying out 'offensive operations' instead of defensive against the insurgents and have achieved big successes in recent times.
The central government, in its typical sledgehammer style, has unleashed the might of its investigative agencies like the Enforcement Directorate against NCP and Shiv Sena leaders.
The Maldives will get free 'non-lethal' military equipment and training from China's military under a newly inked agreement with Beijing, President Mohamed Muizzu has said, underlining that it would further strengthen the Indian Ocean island nation's independence and autonomy.
NCP spokesperson and Maharashtra minister Nawab Malik said that AICC general secretary H K Patil was told about this scheduled meeting when he and other Congress leaders met Pawar in Mumbai recently.
The arrest of ICICI Bank's former Managing Director and Chief Executive Officer (CEO) Chanda Kochhar and her husband Deepak Kochhar by the Central Bureau of Investigation (CBI) in a loan fraud case was "without application of mind and due regard to the law", amounting to an "abuse of power", the Bombay high court has said. A division bench of Justices Anuja Prabhudessai and N R Borkar had on February 6 held the Kochhars' arrest as illegal and confirmed a January 2023 interim order passed by another bench granting them bail. In the order made available on Monday, the court said the CBI has been unable to demonstrate the existence of circumstances or supportive material based on which the decision to arrest was taken.
External Affairs Minister Sushma Swaraj met Foreign Minister of Antigua and Barbuda E P Chet Greene on the sidelines of the 73rd session of the United Nations General Assembly and raised the extradition issue of Choksi, who is currently in the Caribbean island.
Do not go for riskier options like co-operative bank only for the higher return. Even if you go for them, park only a small portion of your capital there, say Tinesh Bhasin and Sanjay Kumar Singh.
Truck movements across the India-Bangladesh border are on the rise, with increasing rentals signalling a trade recovery between the two South Asian nations. Yet, geopolitical tension looms large, with Bangladesh now under an interim government for nearly two months.
The bi-annual financial stability report noted that failure of an NBFC with the maximum capacity to cause solvency losses to the banking system will lead to a loss of 2.5 per cent of the total tier-I capital of the banking system.
Did the fear of central agencies probing scams involving NCP leaders that forced these politicians to jump ship?
One97 Communications Ltd (OCL), the parent firm of fintech major Paytm, has denied reports about any investigation by the Enforcement Directorate (ED) into the company, its associates, and its founder and chief executive officer (CEO), Vijay Shekhar Sharma. The company, in an exchange filing on Sunday, said it had cooperated with the authorities when users or merchants on its platform were subject to enquiries in the past. "We would like to set the record straight and deny any involvement in anti-money laundering activities.
The Reserve Bank has rejected applications of Flipkart co-founder Sachin Bansal-backed company Chaitanya India Fin Credit Private Limited, and five others for setting up banks as these were "not found" suitable, an official statement said on Tuesday. The RBI in a statement said the examination of six applications has now been completed as per the procedure laid down under the guidelines. "Based on the assessment of the applications, (six) applicants were not found suitable for granting of in-principle approval to set up banks," it said.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
Sanjay Gulati, a resident of suburban Oshiwara, went to a protest march held outside a city court on Monday morning and had been under stress because of his deposit being stuck.
Nearly two weeks after drone and missile attacks on its vital oil facilities, Saudi Arabia has said it is enhancing cooperation with India to combat terrorism, including choking funds to terror networks and exchange of information and intelligence.
All lenders, including public, private, rural and cooperative banks, have been asked to make arrangements to gather information on deposits of the Specified Bank Notes.
Amid slowdown blues, the government has unveiled a raft of measures over the past few months aimed at improving liquidity in the system, moderating interest rates as well as credit growth apart from addressing stress in the NBFC sector.
In a circular, the ministry said all NGOs which were registered under the Foreign Contribution Regulation Act should receive donations from abroad in a single designated bank account.
Annapoorna chain of restaurants owner Srinivasan is seen purportedly highlighting concerns over varying GST rates. In the second video, Srinivasan was seen purportedly apologising in person to the Finance Minister.
Delhi Deputy Chief Minister Manish Sisodia has claimed that CBI officials will come to check his bank locker on Tuesday and said the agency sleuths will not find anything in it.
Gehlot said he was welcoming Modi to Rajasthan through his tweet as he would not be able to do so through his speech.
"If HR isn't responsive, it's critical to keep records of all interactions -- e-mails, dates and any conversations you had. If HR fails to help, escalate the matter to higher management or the internal complaints committee," says Smita Shetty Kapoor.
Isn't it time to review the 'fit and proper' criteria for banking licence, particularly with reference to individuals applying for it, asks Tamal Bandyopadhyay?
