Dream11, Baazi Games, Zupee and WinZO among others are invited for the discussion with the anti-money laundering watchdog.
A head constable has been booked for changing bribe notes in court claiming the original ones were nibbled by rats at the police station where they were stored, officials said on Sunday.
Around $200 million worth of deposits of Indian start-ups have been withdrawn from Silicon Valley Bank (SVB), which was taken over by US banking regulators last week after it collapsed, and moved to the Gujarat International Finance Tec-City (GIFT City) IFSC, Rajeev Chandrasekhar, minister of state (MoS) for electronics and information technology said on Thursday. "It turns out that there was over a billion dollars of deposits of Indian start-ups in SVB. "The existential, solvency crisis that was there six-seven days ago has become much more manageable, even the short-term liquidity crisis is being addressed as the bank allows access to deposits," the minister said while speaking at Lenovo's Tech World India Edition event.
The creditors of the grounded carrier Jet Airways on Wednesday raised questions over the source of Rs 200 crore deposited by the Jalan-Kalrock Consortium before the insolvency appellate tribunal NCLAT and said it does not align with the resolution plan. Additional Solicitor General N Venkataraman, representing lenders including SBI and other banks, told the National Company Law Appellate Tribunal (NCLAT) that there are apprehensions about the source of funds, which deposited money for Jalan-Kalrock Consortium's (JKC). "The payment is not compliant with the resolution plan as it mandates that the money is to be paid through JKC," ASG submitted before a three-member NCLAT bench headed by chairperson Justice Ashok Bhushan.
The Reserve Bank should focus on making liquidity easier rather than cutting rates if the intent is to drive growth, Axis Bank's chief economist Neelkanth Mishra said on Tuesday. Mishra, who is also a part-time member of the Economic Advisory Council to the PM, said the rate cut announced earlier this month or even the subsequent ones if they were to come will not end up increasing borrowings as the scarce liquidity will hamper transmission.
Fraudsters read your mind, weave convincing stories, earn your trust and then vanish with people's savings. Ramalingam Kalirajan reveals five simple tricks that cons use to steal money from you.
'The impact of CBDC on deposits and deposit insurance is largely unknown.'
Subscribers of the retirement fund body EPFO may soon be able to withdraw claim amounts from their accounts through ATMs, a top official said. Union Labour Secretary Sumita Dawra has reportedly said that the labour ministry is upgrading information technology infrastructure to provide enhanced services to the Indian workforce.
Feature for feature, bank FDs are indeed better than debt funds today, mainly thanks to Ms Sitharaman, notes Debashis Basu.
The share of low-cost money in total deposits continued to take a knock at the close of FY23 as banks engaged in intense competition by offering higher interest rates on term money to garner funds amid tight liquidity conditions. The share of current accounts and saving accounts (CASA) in total deposits declined by 2-4 per cent by end of March 2023 from March 2022 figure, according to BSE filings by private banks. The ease of movement of funds on digital platforms and the deployment of money by businesses from current accounts also played a role in dwindling the share of CASA money.
Wangchuk rued that over the years, glacial ice has been receding but action remains delayed.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, declined by 11 per cent in 2022 to 3.42 billion Swiss francs (nearly Rs 30,000 crore), annual data from Switzerland's central bank showed on Thursday.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
It is to be seen if SBI under Setty, who will have a three-year term, can ride the economic cycle to take SBI to new heights, navigating some of these challenges.
'There has been a change in the advances mix, with the share of corporate loans decreasing.'
'We have seen something do very well when the times are good but maybe not as well when the times are bad.'
Spanish striker Iker Guarrotxena scored a brace as FC Goa defeated Mumbai City FC 3-1 in the Indian Super League, ending a 13-game winless streak against the Islanders.
Union Finance Minister Nirmala Sitharaman's call for making lending rates affordable may not resonate anytime soon as banks still struggle with margin compression, and await clues from the Reserve Bank of India (RBI) on liquidity and rate action. Hinting that any lending rate cut was some time away, State Bank of India (SBI) managing director Vinay M Tonse said there was still some aggression in the market regarding deposit pricing.
RBI cuts GDP growth projection to 6.6 per cent for current financial year, from earlier forecast of 7.2 per cent.
EBFC head coach Oscar Bruzon brought Saul Crespo in for Nandhakumar Sekar in the 61st minute, and the move yielded instant results, with the midfielder finding the back of the net just four minutes later.
Anandu Krishnan, a 26-year-old man, has been arrested for allegedly defrauding people of several crores by promising scooters, sewing machines, home appliances, and laptops at half price using fake CSR funds from major companies. The total fraud is estimated to be around Rs 600-700 crore. Krishnan was operating the scam since 2022 by registering societies and convincing people that he was the National Coordinator of the National NGO Federation and that he had been entrusted with managing the CSR funds of various companies. He collected money through 62 "seed societies" and used his political links to convince the victims. The police are investigating the role of certain political leaders in the fraud.
FOMO-driven investing is reshaping India's stock market. Swati Saxena explains how social media hype fuels risky bets and how to protect your wealth.
The Central Bureau of Investigation (CBI) conducted searches at seven locations across India in connection with a Rs 350 crore crypto ponzi scam. The accused, operating seven modules in different cities, allegedly lured investors with promises of high returns on cryptocurrency investments. The CBI seized digital virtual assets totaling USD 38,414 in cryptocurrency wallets, cash amounting to Rs 34.2 lakh, and digital evidence, including mobile phones, laptops, tablets, hard disks, and memory cards. The agency registered the case under the Indian Penal Code and the Information Technology Act.
In the final match between Mohol and Mahendra Gaikwad, the latter left the bout with 16 seconds remaining and later abused referees, for which he too was suspended by the controlling authority for three years.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
HDFC Bank on Wednesday reported a 2.3 per cent year-on-year rise in its consolidated net profit to Rs 17,657 crore for the October-December quarter, restricted by slower loan growth. On a standalone basis, the largest private sector lender's net profit came at Rs 16,735.50 crore for the period, up from Rs 16,372.54 crore in the year-ago period, but marginally down from the preceding quarter's Rs 16,820.97 crore.
The national capital is on high alert for Republic Day, with over 70 companies of paramilitary forces and more than 70,000 police personnel deployed across the city. A six-layered security protocol involving 15,000 security personnel has been deployed in New Delhi district alone. Security measures include over 2,500 CCTV cameras with facial recognition, anti-drone systems, and snipers on rooftops. Traffic restrictions have been imposed in central Delhi, with no traffic movement allowed on Kartavya Path from Vijay Chowk to India Gate from 6 pm on Saturday. Flying of sub-conventional aerial platforms is prohibited over Delhi until February 1.
Having recently made his international comeback against England in both T20Is and ODIs, the stretchable knee caps did not go unnoticed as Mohammed Shami first tried to get a feel of the conditions by bowling a few deliveries with a short run-up.
The RBI has changed the way it approached supervision in the past. Having seen a couple of collapses in the NBFC sector and the near-collapse of a few banks, it is focusing on regular drills to prevent a fire from breaking out, explains Tamal Bandyopadhyay.
Saif and Kareena moved to Satguru Sharan after Jeh was born.
Rekha Gupta had the support of the RSS, which actively participated in the Delhi assembly poll campaign to help the BJP win.
Bank credit growth is expected to moderate this financial year after a robust 16 per cent estimated for last financial year, driven by strong economic activity and retail credit demand. There are three reasons for this: a statistical high-base effect given the strong growth seen last financial year, revision in risk weights by the Reserve Bank of India (RBI), and relatively slower economic activity.
Brazilian authorities have rescued 163 workers from conditions similar to 'slavery' at a construction site for a factory of Chinese electric vehicle company Build Your Dreams (BYD) in Camacari, Bahia.
The correlation between withdrawal of deposits and the Covid death rate is stark, reveals Tamal Bandyopadhyay.
Kumar's parents failed to deposit Rs 17,500 as the acceptance fee by June 24, the deadline for depositing the requisite fees for blocking the seat.
Delhi's third woman Chief Minister Atishi, who replaced Arvind Kejriwal after his resignation in September last year, filed her nomination on Tuesday for the upcoming Assembly polls, declaring a net worth of Rs 76.93 lakh, with no car or house in her name. According to Atishi's affidavit submitted to the Election Commission (EC), her movable assets include Rs 30,000 cash in hand, gold jewellery worth Rs 1 lakh and approximately Rs 75 lakh held in bank accounts as fixed deposits and savings. The affidavit also revealed that Atishi does not own any immovable property.
The cost of deposits is on the rise, but banks can't raise interest rate on close to 60% of their loan books, points out Tamal Bandyopadhyay.
The Supreme Court of India harshly criticized a man for abandoning his wife and minor daughters, calling his actions "cruel" and questioning his humanity. The court demanded the man provide financial support to his family, including his daughters, before it would consider any favorable orders in his case. The man had previously been convicted of domestic abuse and fraudulently removing his wife's uterus. The court's strong stance highlights the ongoing issue of domestic violence and the need for legal protection for women and children in India.
Mumbai City FC held off a late scare from East Bengal FC to secure a thrilling 3-2 victory in the Indian Super League (ISL) in Kolkata on Monday.
Reserve Bank of India on Thursday said a centralised portal would be ready in three to four months wherein depositors and beneficiaries can access details of unclaimed deposits across various banks. As of February this year, about Rs 35,000 crore of unclaimed deposits were transferred to RBI by public sector banks in respect of deposits which were not operated for 10 years or more. "In order to improve and widen the access of depositors/beneficiaries to such data, RBI has decided to develop a web portal to enable search across multiple banks for possible unclaimed deposits based on user inputs," RBI Governor Shaktikanta Das said while announcing the first bi-monthly monetary policy for the current financial year.
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