WhatsApp's ambitious payment services' blueprint in India has been caught in a bind over concerns around authentication and its data storage practices.
Banks are in a tight spot as ministry wants them to open ATMs at all rural branches
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
This is the concluding part of a three-part series, where Aditi Roy Ghatak and Paranjoy Guha Thakurta discus how share prices in India are manipulated and the future of the country's stock exchanges.
The year 2014-15 could well go as one of long-pending financial sector reforms, expected to have a lasting impact.
'Good investment opportunities should not be missed.'
The government scheme has a long way to go before its ultimate goals of universal financial inclusion and financial literacy are achieved.
One of the hurdles for MFIs towards becoming banks is an unsecured loan portfolio.
Global financial firm J P Morgan has said that it plans to include Indian government bonds (IGBs) or government securities (G-Secs) into its benchmark Emerging Market index from next year, a move that will bring down borrowing cost for the government. The inclusion of the IGBs will be staggered over a 10-month period from June 28, 2024 to March 31, 2025, indicating one per cent increment on its index weight. "India's weight is expected to reach the maximum weight threshold of 10 per cent in the GBI-EM Global Diversified, and approximately 8.7 per cent in the GBI-EM Global index," J P Morgan said in a statement on Friday.
The Pradhan Mantri Jan Dhan Yojana scheme will help eradicate poverty and curb corruption at the grassroot level, industry said.
The total allocation to the defence sector is 12.9 per cent of the total budget of the government of India for the financial year 2024-25.
The move would help tax authorities get leads on evasion.
Market participants attribute the stability to the Reserve Bank of India's timely intervention in the foreign exchange market, both in terms of selling and buying dollars.
The Reserve Bank of India's (RBI's) record surplus transfer to the government has raised hopes among bond traders that the government might reduce its gross borrowing for the current financial year (2024-25/FY25) by up to Rs 1 trillion. The RBI approved a dividend of Rs 2.11 trillion for the central government for 2023-24, marking an increase of roughly 141 per cent from 2022-23 (FY23). In addition, the contingency risk buffer has been raised to 6.5 per cent from the previous 6 per cent.
'It is important to understand that the disability is not in the person.' 'The problem lies in societal attitude and the discriminatory treatment given to disabled people in our country.'
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
The Games coincides with the women team's limited-overs tour of England
While most of Mukherjee's lectures will be closed door for the students taking up the elective, the institute plans to open up one or two sessions for public in November this year.
In its annual policy review on April 1, the central bank had proposed a ban on prepayment penalties.
Out of all the reported digital payment frauds in India, over half (55 per cent) were United Payments Interface (UPI)-related, a new report released on Tuesday revealed. Another 18 per cent are card related, 12 per cent are related to internet banking and nine per cent are from phishing calls. Most of the UPI-related frauds, however, have a low ticket size.
India needs a paradigm shift in personal data management that transforms the current organisation-centric data sharing system to an individual centric approach that promotes user control on data sharing for empowerment, said Niti.
In an address at a security conclave of the Shanghai Cooperation Organisation in the Kazakh capital, he also underlined the need for holding accountable the sponsors, financiers and facilitators of terrorism, in remarks that came amid Pakistan's continuing support to various terror groups.
Finance Minister Arun Jaitley might next month launch mobile banking services for people not using smartphones.
Venture capitalists Adam Wolfensohn and Ameya Bijoor tell Anjuli Bhargava about the kind of investments and companies they are looking to invest in.
The elements are all aligned to make India a global powerhouse, says IMF Managing Director Christine Lagarde.
The Reserve Bank of India (RBI) has decided to give new banking licences to create more capacity and competition in the Indian banking space but the right size is yet to be determined. "The right size of a bank remains a debate for the industry," said Deputy Governor Subir Gokarn.
The gist of the reactions from various quarters to the Reserve Bank of India's (RBI's) discussion paper on entry criteria for new banks in the private sector, as published by RBI, shows that most would like RBI to ensure utmost transparency and discretion in the next stage of growth of Indian banking.
It can be an useful tool in achieving the objective of Pradhan Mantri's Jan Dhan Yojana
The solution to this problem lies only in making the system more efficient, he said.
The Reserve Bank of India has formulated strategic polices to enhance growth in banking sector.
According to an Election Commission statement, the two have decided not to avail exemption from income tax on sumptuary allowance and to surrender two of the three Leave Travel Concessions (LTC) available each year.
Bajaj Auto reported steady results in Q1FY25, with revenue surging 16 per cent year-on-year (Y-o-Y), operating profit registering a growth of 24 per cent Y-o-Y, and margins swelling 20.2 per cent. The profitability was aided by 50 basis points (bps) on the accrual of PLI benefits. The domestic prospects for two-wheelers are healthy, though the response to the newly launched CNG motorcycle is a key monitorable.
The party was trounced in Rajasthan, Madhya Pradesh and Chhattisgarh and is now left with only Himachal Pradesh in the north. It is ruling in only three states on its own and is in power in Bihar and Jharkhand as a junior partner in alliance with regional parties.
There was an improvement in the eighties to an average of 5.6 per cent per annum. When even moderate growth became unsustainable, and there was a threat of collapse, India made a decisive shift in 1991.
State Bank of India (SBI) wants to extend its footprint to 11,943 unbanked villages, with a population of at least 2,000, this financial year. The country's largest lender recently submitted its plan to the Reserve Bank of India (RBI).
Stock markets are likely to remain range-bound in this holiday-shortened week amid a lack of any major domestic triggers, analysts said. Stock indices may also face volatility during the week amid the monthly derivatives expiry on Thursday. Equity markets would remain closed on Monday for Christmas.
The other key issues to be taken up at the summit, which is expected to be attended by Prime Minister Narendra Modi, will include raising the global GDP by an additional 2 per cent in the next five years and boosting infrastructure sector funding.
'You cannot have only one product or one market or one customer segment.'
.jpg)
During his last visit to India, Khosla had said the focus of Khosla Labs would be to fund innovations around Aadhaar.
'Baseball/softball, cricket (T20), flag football, lacrosse (sixes) and squash will be in the programme at LA28.'
