The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
The number of frauds in the banking sector during the first half of the current financial year has increased substantially to 14,483 cases, although the amount involved is only 14.9 per cent of the previous year's amount, according to a RBI report. The report on Trend and Progress of Banking in India 2022-23, underlined the need to protect the banking system and the payments system from the risks of fraud and data breaches emanating from cyber threats. As many as 14,483 frauds were reported involving an amount of Rs 2,642 crore in the first half of current financial year, as compared to 5,396 cases (Rs 17,685 crore) in the same period a year ago.
The home loan top-up, a kind of secured multipurpose personal loan, is on the regulator's radar, points out Tamal Bandyopadhyay.
The retail broking industry's top line could more than double over the next five years, according to the estimates of consultancy firm Bain & Company. The industry, which facilitates stock market trading for investors, has already witnessed its revenues double from Rs 14,000 crore during 2018-19 (FY19) to Rs 27,000 crore in 2022-23 (FY23), reflecting an annualised growth rate of 17 per cent. "This growth has been fuelled by the emergence of India's mass-affluent and affluent segments, coupled with increasing financial literacy.
Vodafone Idea board on Tuesday approved a fund-raise of up to Rs 20,000 crore through a combination of equity and equity-linked instruments, the crisis-ridden telco said, adding promoters will also participate in the proposed equity raise. Overall, Vodafone Idea plans to raise around Rs 45,000 crore through a mix of equity and debt, the company said. The company has been fighting a desperate battle for survival -- it has a debt of Rs 2.1 lakh crore and is reporting quarterly losses, amid massive subscriber churn.
Shares of One97 Communications (OCL), which provides financial services under the brand 'Paytm', and has a banking arm Paytm Payments Bank (PPBL), hit the 5 per cent upper circuit at Rs 428.10 on the National Stock Exchange (NSE) in Monday's (February 26) intraday trade. The up move in the stock on Monday came after the Reserve Bank of India (RBI) asked the National Payments Corporation of India (NPCI), in post stock market hours, to look into the possibility of migrating PPBL customers, using the UPI handle '@paytm', to four-to-five other banks.
Hyundai, which is also toeing Maruti's lines, said special schemes are offered to engage the cab aggregators, including annual-maintenance-contract packages and extended warranty.
'We need to be far more careful given the fact that while this is group lending, it's essentially unsecured.'
Banking technology start-up Zeta is the latest entrant to the unicorn club after raising $250 million in its Series C round from SoftBank Vision Fund 2. Sodexo participated as an additional minority investor in the round. Founded by serial entrepreneur and billionaire Bhavin Thurakia, the startup is now valued at $1.4 billion. It is the 14th company this year to cross the $1 billion valuation mark after Meesho, Cred, Pharmeasy, ShareChat, Moglix and others.
India will not tailor its policies to suit US EV maker Tesla, and its laws and tariff rules will be formulated to attract all-electric vehicle manufacturers from across the world to set up a base in the world's fastest-growing economy, Commerce and Industry Minister Piyush Goyal said. Tesla has been seeking an initial tariff concession that would allow it to offset 70 per cent customs duty for cars priced less than $40,000, and 100 per cent for cars of higher value.
'The stockbroker should have a good balance sheet to support its scale of operations. It should also have proper risk management in terms of margins so that it doesn't go bankrupt during extreme market movements.' 'The broker must have a track record of navigating several market cycles in an ethical and transparent manner.'
Defending champions Chennai Super Kings clash against Gujarat Titans in a repeat of last season's final in the IPL 2024 match in Chennai on Tuesday.
The principal commissioner has been made responsible for developing and approving any intelligence, conducting search, and completing investigations and relevant subsequent actions, including at the lower field formations, points out T N C Rajagopalan.
As Indian IT service entities mature into multi-billion dollar organisations employing thousands, the pressure has increased on them from clients to identify and solve customer problems than working on predefined parameters.
'It's dull because this time the election is spread over such a long period.'
Are faulty design, hurried construction and private ownership to be blamed for the incidents of airport roofs crashing?
Borrowing from a fraudulent loan app subjects the borrower to a variety of risks.
Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.
An online company would show a particular price to the customer and then quickly increase the cost after analysing consumer behaviour or detecting any kind of desperation.
Future Group aims to increase customer spends - average of Rs 20,000 over 10 visits at its stores in a year
While recalling the order, the bench agreed to the contention of the law officer that there was a "breach of principle of natural justice" as the government department was not accorded the hearing.
The Reserve Bank of India (RBI), on Thursday issued orders restraining commercial transactions routed through intermediaries by a card network. The central bank, without naming the card network, said the intermediary with an arrangement with the network, did not have the authorisation to function under the Payment and Settlement Systems (PSS) Act. This led the regulator to suspend the arrangement till further notice.
The customer who is a law student tried to film a video showing a cockroach inside a refrigerator when he was slapped.
The ministry of external affairs and the embassy of India in Berlin have been persistently advocating for the return of Ariha Shah to India.
With Beijing remaining intransigent on the withdrawal of additional troops deployed by the People's Liberation Army (PLA) since the deadly border clash in 2020 in eastern Ladakh, India's bilateral ties with China remained frozen in 2023 with no forward movement on the horizon despite several rounds of diplomatic and military talks.
Technology giant Apple, which recorded $83 billion in revenue for the quarter ended June 2022, has reported a "near doubling" of revenue in India. Announcing financial results for its fiscal 2022 quarter ended June 25, Apple on Thursday said it has achieved a revenue record of $83 billion, up 2 per cent year-over-year. Apple CEO Tim Cook, during an earnings call, said the 83 billion dollar revenue was "better than we expected despite supply constraints, strong foreign exchange headwinds and the impact of our business in Russia."
The top-notch faculty at Crotonville, including Noel Tichy, Ram Charan, Vijay Govindarajan, along with GE's top leaders Jack Welch, Gary Reiner, Bill Conaty, Jeffrey Immelt and Susan Peters, together delivered sought-after programmes on leadership to generations of early-stage leaders, mid-tier and senior managers from all over the world, recounts Indrajit Gupta.
Politics is not on the radar of 18 to 21-year-old Indians, reveals Rama Bijapurkar.
Every defaulter is not a wilful defaulter who has the capability of paying back and is yet not servicing the bank loan, observes Tamal Bandyopadhyay.
Learning will become genuinely global as a result of immersive experiences. Edtech advances will increase engagement, enhance knowledge and dissolve geographical barriers, says Anant Bengani, director, Zell Education.
Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
No discrimination on basis of gender, age, religion, caste and physical ability.
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
What humans have -- that no machine can mimic -- is the ability to foster positive and authentic relationships with coworkers, managers and clients, says Job Van Der Voort, CEO and co-founder of Remote.
In addition to these temple models, metallic rings, lockets and other cloth items bearing Lord Ram's name are flying off the shelves in Ayodhya, according to shopkeepers.
Heeramandi, a passion project that took off after years in development and planning, mirrors Sanjay Leela Bhansali's film-making's finest and frustrating features, observes Sukanya Verma.
Team BikeDekho takes the duo for a spin to decide who the winner is in this battle of cruisers
Neha and Mohnish Kharkar are school sweethearts whose friendship blossomed into a beautiful marriage.
In the quarter gone by (Q3 of FY22), private lender HDFC Bank issued around 950,000 credit cards, its highest ever credit card issuance in any single quarter. Since the Reserve Bank of India (RBI) revoked the embargo on it in August 2021 to issue new credit cards, the lender has issued 1.37 million credit cards. This is according to a senior bank executive, who was present in an analysts' call after the lender's Q3 earnings. In Q3, we achieved the highest ever issuance, with 950,000 card issuances.
Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
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