'Facilitating conversion of well-run NBFCs into banks is urgently needed.'
Only when we are part of the same family, which will happen down the line, then, of course, we will give them (PMC depositors) all the assurance and the comfort.'
The finance minister's meeting with chief executives and managing directors of banks ahead of the Union Budget assumes significance in view of the critical role the banking sector plays in boosting consumer demand across sectors.
IMF's Chief Economist Gita Gopinath on Thursday said it would be damaging for India to start tightening policy support in the midst of the COVID-19 pandemic and also stressed on reducing wasteful expenditures in the upcoming Budget. Delivering NCAER's '9th C D Deshmukh Lecture' virtually, Gopinath said there is scope for the Indian government to provide more direct support to people.
RupeePower aims to become the No 1 originator of financial products.
Digital commerce operators advertising on global social media, which earlier did not pay Google tax on their operations in Jammu & Kashmir, may now have to cough it up at 6 per cent.
'I don't celebrate my success and that's why I don't moan my failures.'
The government is also considering mandating payments beyond a prescribed threshold only in card/digital mode.
About 51 per cent of the participants also said that their mothers inspired them the most to pursue technology careers.
It has been a decade since Shyam Srinivasan took over as managing director and chief executive officer at Federal Bank. He wants to ramp up the bank's unsecured lending going ahead even as it homes into the space vacated by competition. Reappointed for a fresh three-year term as the bank's helmsman, he spoke to Hamsini Karthik on the plot ahead.
The trick is to know how long you are supposed to hold which document, observes Bindisha Sarang.
Why various loans are disbursed differently...
TCS was recognised as a leader in all the categories, namely overall, efficiency, consulting, transformation and digital focus
Investment in market leaders with a safety-first approach could yield reasonable returns across sectors.
Things are expected to change dramatically in a few years for urban consumers.
In an indication of easing financial stress among borrowers, the number of unsuccessful auto-debit requests through the National Automated Clearing House (NACH) platform declined in July, reversing a three-month trend that started with the second wave of the Covid-19 pandemic. According to the NACH data, of the 86.4-million transactions initiated in July, 33.23 per cent, or 28.7 million transactions, failed, while 57.7 million were successful. Compared to June, this is a significant improvement in bounce rates.
There will be uncertainty about outcomes,but one must hope for the best, observes T N Ninan.
'As valuations of large-caps appeared to be out of whack, investors started lapping up quality mid-caps and small-caps, which were available at relatively comfortable valuations.'
The broadening of the market rally sends the signal that growth will be broad-based, observes Akash Prakash.
While TMC leaders ridiculed Prime Minister Narendra Modi and UP chief minister Yogi Adityanath for lifting an image purportedly from West Bengal, the BJP in the Mamata Banerjee-ruled state took potshots at crashing flyovers in the eastern state over the use of an image in a newspaper ad
'Every actor has gone through the situation of his work drying up. I am no exception.'
There are also signs that the private sector investment cycle is slowly coming back, as capacity utilisation figures across industry continue to slowly creep up. A pickup in investments will front load profitability, says Akash Prakash.
The minimum amount of recharge is Rs 10 and the maximum is Rs 250.
Since December 2018, monetary policy has been eased substantially by RBI with policy rates being cut by 75 bps and policy outlook being changed to 'accommodative'.
'The producer will wear these gold ornaments, but they will not part with Rs 30,000 or Rs 50,000 to pay the writer.'
There will be different ways of returning the money, depending on the profile of the depositors and the amount, predicts Tamal Bandyopadhyay.
Use of blockchain technology will ensure that banks will not be blindsided like in the case of the Nirav Modi-Mehul Choksi blowout at PNB, says Raghu Mohan.
'For the next three months or so, the market will go down.' 'Traders do not have Rs 100 notes.'
Documents such as PAN card, Aadhaar card, I-T return papers, which are used for KYC, can get leaked from a number of sources. Other prominent sources are the direct sales agents and photocopy shops, say Sanjay Kumar Singh.
Bandhan Bank is expecting that a little less than 50 per cent of its portfolio will be dominated by affordable housing loans in the next three to five years.
'Companies with a strong business case and healthy balance-sheet should sail through and emerge more robust in the future.'
In the year-long crackdown on tax evasion, the GST authorities have unearthed over Rs 35,000 crore of tax fraud committed by misuse of input tax credit provision under the Goods and Services Tax (GST) regime. During the 2020-21 financial year, the CGST zones and the Directorate General of GST Intelligence (DGGI) booked about 8,000 cases involving fake ITC of over Rs 35,000 crore, a statement from CBIC said. Under the GST regime, at the time of paying tax on output, entities can reduce the tax they have already paid on inputs.
The Indian regulatory framework forced Citi to hibernate -- contrary to the claim that it never sleeps!
Currently, only three have completed more than six months of operation in the space - Fino Payments Bank, Airtel Payments Bank and Paytm
While salary growth may range from a marginally positive to stagnant or even negative, the increment for some of the "super-specialised" profiles can go beyond 15%.
RBI should monitor export credit offtake and how well banks implement its instruction.
Besides the pandemic that resulted in higher interest rates, the default by Future Retail has dealt a blow to investor sentiment.
HDFC Bank managing director Aditya Puri on Wednesday said the lender's business is returning to pre-COVID-19 levels and full normalcy is expected to be restored soon.
The GST Council also decided that a committee of officers will be constituted to examine the simplification of forms for annual return and reconciliation statement.
