Private sector lender Bandhan Bank on Friday said its founder, managing director and CEO Chandra Shekhar Ghosh has tendered his resignation. Ghosh would retire from the services of the bank as MD and CEO upon completion of his current tenure on July 9, 2024, the bank said in a regulatory filing. "After leading the bank for almost a decade, including three consecutive tenures as MD & CEO, I feel that the time has now come for me to assume a larger strategic role at Bandhan group level," Ghosh said in a letter addressed to the board.
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
Everybody will say it is a wonderful move going by its stated objective which is to strike at black money but it was not a "thought-through" exercise, said the former Bharatiya Janata Party leader who has often flayed the Modi government's policies.
The main factors contributing to the above-50.0 PMI reading were growth of both new orders and output as market conditions returned to normal and led to subsequent improvement in demand.
The facility to exchange or deposit Rs 2,000 banknotes will not be available on Monday, April 1, 2024 due to operations associated with the annual closing of accounts, the Reserve Bank of India (RBI) said on Friday. The facility will resume on Tuesday (April 2, 2024) at the 19 issue offices of the RBI, it added. "The facility of exchange/deposit of Rs 2,000 banknotes will not be available on Monday, April 1, 2024 at the 19 issue offices of the Reserve Bank of India due to operations associated with the annual closing of accounts," it said.
Pakistan may want to undertake a 'false flag' operation in J&K to divert attention from the situation in Balochistan and Khyber Pakhtunkhwa but infiltrating one SSG battalion into J&K and having two SSG battalions waiting to follow suit means war, which Pakistan cannot afford in its current economic crisis, notes Lieutenant General Prakash Katoch (retd).
'If they felt that my post was wrong they should have filed a defamation case against me.' 'Why pick up in the night and detain me?' 'I was scared and thought I will be beaten up. I thought anything can happen to me and I can even die.' Abhishek Mishra on his detention.
Chambers said Internet will facilitate 3-5 times the economic impact at a much faster pace
After demonetisation, sharp fall in PE valuation offers an attractive entry point into some quality names and these 3 FMCG companies are expected to see the fastest growth in earnings with at least 15 per cent upside potential
Using the Mahabharat reference as a leitmotif, Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday claimed that an atmosphere of fear prevails all around with a group of six trapping the entire country in a 'chakravyuh' he promised would be broken by the INDIA bloc.
To fill seats, airlines have resorted to fare wars following the adverse impact on ticket sales, reports Arindam Majumder.
Opposition members kept on shouting 'Pradhan Mantri sadan me aao'.
The interchange fee -- paid by the card-issuing bank when a customer swipes at another bank's ATM, including at white-label ATMs -- may be raised to Rs 20 to Rs 23.
IMF said the repercussions from India's currency exchange initiative will likely persist through the first quarter of 2017.
Opposition's relentless demand for a debate on demonetisation under a rule which entails voting on Thursday forced the adjournment of the Lok Sabha
'The government should come back as a job creator as it did in the 1960s and the 1970s.'
A digital economy can only work with uninterrupted electricity supply. So, states now face the unpleasant task of telling their citizens that electricity rates need to be hiked. Subhomoy Bhattacharjee reports.
'Have a long way to go even as a small finance bank, both in terms of size, and in terms of fulfilling our aspirations for financial inclusion.'
From farmers to cement, steel, logistics, transportation and automobiles, the back-end is struggling to get going due to the liquidity crisis.
The loss of income has severely dented the loan repayment ability of small borrowers
Brokerage firm Ambit Capital has cut FY17 growth estimate to 3.5 per cent from 6.8 per cent and saaid there was even a possibility of growth contracting during the December quarter
Paytm, the country's leading fintech player which had to shut its payment bank business following regulatory action, is revisiting its business strategy including partnership with lenders. Also, the company's founder and chief executive officer (CEO) Vijay Shekhar Sharma has decided to oversee the day-to-day operations with all the major verticals reporting directly to him now. "The thing on top of everyone's agenda is getting the core businesses back on track," a person in the know said.
'We have the political will to take this to the very end.' 'But what eventually happens depends on the effectiveness, honesty and missionary zeal of the officialdom in the frontline of the battle against corruption,' says S Muralidharan.
Demonetisation and Agniveer reveal the two mindsets India has become. In both these government schemes, one sees a desire to play the country like an orchestra anchored by conductor/conductors, argues Shyam G Menon.
The Congress on Thursday accused the Modi government of aiding 'drain of wealth' from ordinary Indians to crony corporates, and said it will end this practice if it comes to power at the Centre.
He also made it clear that the pre-2005 notes will continue to be legal tender.
Quoting Greek philosopher Socrates, Justice Bopanna emphasised that there are four qualities that are expected of a judge -- to hear courteously, to consider soberly, to answer wisely and to decide impartially.
Congress and its allies do not want Parliament to function and were shying away from a debate on demonetisation as the poor look at Prime Minister Narendra Modi as "messiah" after the decision, Union Minister M Venkaiah Naidu said on Friday.
The Adanis and the Ambanis already knew about it and sorted their money in advance, said the BJP MLA
He also hit out at the Congress saying governments in the past 70 years kept quiet on blackmoney because they were worried about losing power.
'Till the time you have the equations right the market will remain concerned.' 'If the (coalition) government is taken care of, then probably (the markets will) come back to its rhythm.'
Nirmala Sitharaman on Wednesday assumed charge as the Finance and Corporate Affairs Minister for the second consecutive term and is slated to soon present the final Budget for FY '25 that is going to set the tone for the Modi 3.0 government's priorities and direction for Viksit Bharat. Upon her reaching the North Block office, Sitharaman was greeted by Finance Secretary T V Somanathan and other top officials. Minister of State for Finance Pankaj Chaudhary was also present. Chaudhary assumed charge on Tuesday evening.
The finance minister also hinted that not all of the Rs 15.44 lakh crore worth of currency junked will be remonetised through issuance of new notes as he said digital currency will fill the gap.
Some initial reactions to Prime Minister Narendra Modi's announcement of demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight.
Rs 14.5 lakh crore of Rs 500 and Rs 1,000 notes have been deposited as of 30/12.
Demonetisation of the high value currency notes of Rs 500 and Rs 1,000 did not have any discernible impact on currency in circulation (CIC) in the country, which has soared by almost 83 per cent since its announcement on November 8, 2016. The Supreme Court on Monday upheld the decision of the government on demonetisation. On November 8, 2016 Prime Minister Narendra Modi had announced demonetisation of old Rs 1,000 and Rs 500 banknotes and one of the key objectives of the unprecedented decision was to promote digital payments and curb black money flows.
Politely decline to be prime minister, and hand the baton to someone else in the BJP -- like Sonia did to Manmohan Singh -- advises Krishna Prasad.
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.
The CAG audit may look into expenditure on printing of notes, RBI dividend payout and banking transaction data.
Sources said the government wants all of the 500 and 1000 banknotes to be deposited and not burnt or destroyed for the fear of penal action.
