Credit card issuers saw significant erosion of their card base during the July-September quarter as the Reserve Bank of India's (RBI) norms mandated deactivation of cards that have been inactive for a year. The second quarter of the current financial year saw outstanding cards-in-force decline by 2.55 million to 77.7 million. Prior to this, the industry, on an average, was witnessing a net addition of over 1.5 million credit cards a month as players became aggressive on the unsecured lending business after the pandemic.
Volkswagen was the third largest automotive brand after Toyota and BMW in a 2015 listing of the world's top auto brands.
Switching to the UPS could be a game-changer for your retirement planning, especially if you value guaranteed benefits and higher government contributions, observes Ramalingam Kalirajan.
In a video clip that had gone viral on social media, Faizan, along with four other Muslim men, was seen being beaten up by policemen while being forced to sing the national anthem and 'Vande Mataram'.
At the BSE, 1,879 companies declined, while 685 advanced and 131 remained unchanged.
Equity investors suffered a massive loss of Rs 31 lakh crore on Tuesday as markets went into a tailspin with the BSE Sensex tumbling nearly 6 per cent as vote counting trends showed the BJP may not have a clear majority in the Lok Sabha polls. Erasing the record-rally of the previous trade, the 30-share BSE Sensex cracked 4,389.73 points or 5.74 per cent to settle at 72,079.05. During the day, the benchmark tanked 6,234.35 points or 8.15 per cent to hit a nearly five-month low of 70,234.43.
'There is a saying in Assamese about inflicting pain on an adversary: He cut my hands with a sword and rubbed salt into my wounds.' 'This has never been the BJP's culture but it started happening openly and frequently under Himanta Biswa Sarma.'
Several areas of Tamil Nadu remain inundated after hours of heavy to moderate rainfall in the region. Water entered houses and markets in the low-lying residential areas of Erode district due to heavy rainfall throughout the night.
'The practice of selectively praising judicial decisions that align with one's views while vehemently criticising those that do not, undermines the very essence of judicial review and the rule of law'
Prime Minister Narendra Modi led-NDA government in its third term must tackle the problem of unemployment in the country, especially in the unorganised sector and in small and medium enterprises, former NITI Aayog Vice Chairman Rajiv Kumar said on Monday. Kumar also emphasised that the government now must finalise the four labour codes as it has been delayed beyond expectations. "We must recognise that post-COVID economic recovery has been a K-shaped recovery.
US short-seller Hindenburg Research had shared an advance copy of its damning report against Adani group with New York-based hedge fund manager Mark Kingdon about two months before publishing it and profited from a deal to share spoils from share price movement, according to market regulator Sebi. The Securities and Exchange Board of India (Sebi), in its 46-page show cause notice to Hindenburg, detailed how the US short seller, the New York hedge fund and a broker tied to Kotak Mahindra Bank benefited from the over USD 150 billion routs in the market value of Adani group's 10 listed firms post-publication of the report.
Kansai Nerolac Paints has seen its market capitalisation (mcap) erode by over 5 per cent since May 3 after posting a subpar performance in the fourth quarter of 2023-24. Weighed down by stiff competition, the company has shed Rs 1,172 crore over the past two weeks in mcap. India's largest paint maker in terms of mcap, expects double-digit growth in the industrial segment and aims to maintain margins, but its performance in decorative paints could suffer amid competition.
MPs and MLAs taking bribes to vote or make a speech in the house are not immune from prosecution, the Supreme Court said on Monday in a landmark, unanimous verdict that overrules its 1998 judgment protecting such lawmakers.
'Modi knows the people here are opposed to this project, but he is using the might of government to push this port down our throats.'
Moody's Ratings on Tuesday said India's growing water shortage can disrupt farm and industry sectors and is detrimental to the credit health of the sovereign as rising food inflation and decline in income may spark social unrest. It said decreases in water supply can disrupt agricultural production and industrial operations, resulting in inflation in food prices and hence can be detrimental to credit health of sectors that heavily consume water, such as coal power generators and steel-makers.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
On the upcoming Ram Temple events, Jamiat said that in light of the recent events linked to the Ram temple in Ayodhya, it deems necessary to draw the attention of the government and law enforcement agencies to concerns about the breach of peace and attempts to "harass and intimidate the minority community."
Former Reserve Bank of India Governor Duvvuri Subbarao has said the central bank could lose control over money supply and inflation management if cryptocurrency is allowed in the country. Speaking at a webinar organised by the National Stock Exchange (NSE) and New York University (NYU) Stern School of Business, Rao also said India's case for issuing a central bank digital currency (CBDC) may not be strong as there are capital controls. "Crypto is backed by algorithms and there is fear that the central bank might lose control over money supply and inflation management.
The country's government-run firms suffered a loss of over Rs 82,000 crore (Rs 820 billion) on a single day on Monday with no significant announcement like FDI hike in some sectors or disinvestments in PSUs in the Budget 2009-10.
"If you see in the context of alliances and statistics, then this is the strongest alliance government," Modi said while addressing newly-elected MPs and leaders of the NDA from across the country following his election as leader of the ruling bloc ahead of his government's swearing-in on Sunday.
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
Heatwave conditions have been prevailing in Odisha since April 15 and the Gangetic West Bengal since April 17, according to the MeT department.
Flood waters today engulfed 22 villages in Assam's Bongaingaon and eroded 60 houses in Morigaon district displacing scores of people as the Bramhaputra river continued to flow above the danger level.
The Supreme Court has ruled that government employees have no fundamental, legal or moral right to go on strike.
Regular, uncontrolled consumption of sugar can raise blood pressure, increase inflammation and contribute to obesity, all of which strain the heart, warns Dr Anu Gaikwad.
Earlier in the day, Chief Justice of India DY Chandrachud said he will look into Kejriwal's request for an early listing of his plea against a high court order upholding his arrest.
The campaign will reach a high decibel level next week when BJP state chief K Annamalai is expected to take up a blitzkrieg campaign against the ruling DMK.
In a scathing attack on Prime Minister Narendra Modi, former prime minister Manmohan Singh on Thursday accused him of lowering the dignity of public discourse and the gravity of the office of the PM by giving "hateful speeches" during the poll campaign.
Forty-two of the 102 Lok Sabha seats going to polls in the general election's first phase are constituencies that have three or more candidates facing criminal cases, according to a poll rights body.
Kejriwal has described his arrest by the ED ahead of the general election as an "unprecedented assault on the tenets of democracy" and urged the apex court to release him by declaring the case against him as "illegal".
The trial court shall, as far as practicable, conduct trial from day to day, and complete the same on or before July 31, 2024, the judge added.
'The government has been anti our civilisational values.' 'My fear would be that they erode that some more to have their way and to consolidate their power.'
"The nakli Shiv Sena wants to bury me alive. They abuse me in such a way that it will be liked by their favourite vote bank," Modi said.
The recent incident has eroded trust and Chinese social media reflects growing anxiety, with calls for stricter security measures to protect Chinese lives.
However, in the event of the Bharatiya Janata Party deciding to contest, his candidate would withdraw from the race, he said.
Development economist Jean Dreze said the Indian democracy is currently navigating a crisis that is not only limited to the 'recent wave of authoritarianism' but also suppression of opposition voices by the ruling Bharatiya Janata Party.
While the cause itself is undoubtedly worthy of attention, the method employed raises concerns about the dangers of misinformation and the responsibility of news outlets in our information age.
BJP workers depend on Annamalai's popularity to emerge victorious. He has has made 100 promises to be fulfilled in 500 days and assurances include cleaning up rivers, an international airport and food vans named after former Chief Minister K Kamaraj.
The authorities have issued flood alert to the people living in the low lying areas and also along river banks in as many as nine districts.
The ED had arrested Kejriwal on March 21, hours after the high court refused to grant him protection from coercive action by the federal anti-money laundering agency.
