Reserve Bank of India Deputy Governor M Rajeshwar Rao on Wednesday said while the central bank will foster growth in the microfinance (MFI) sector, the lenders in the space should not throw caution to the wind to achieve higher asset growth and returns. MFIs should not try to mimic the strategies of mainstream finance, as those serving the microfinance borrowers have a greater need to balance the social objectives with their lending operations, he said.
Kotak Mahindra Bank to have a 19.9% stake in the proposed banking venture.
Many CEOs said they plan to give special leave to women employees so as to encourage their participation in the workforce.
'We are committed to achieving the targets we had outlined.'
Telecoms investor Aditya Birla Nuvo Ltd and retailer Future Group were among the first big names to apply for licenses to run so-called payments banks
In 2012, Akula quit as chairman of Bharat Financial Inclusion (formerly SKS Microfinance), which he'd founded and led to a successful initial public offering
'In India, a deadly wave of infection with the Delta variant stole 240,000 lives between April and June and disrupted economic recovery. Similar episodes could take place in the near term,' said the report.
This survey also shows how things have moved forward since the last large-scale sample survey conducted by NSSO in 2012-13
The government has opted for the RuPay debit card over the Aadhaar-based platform for "last-mile" authentication in its Pradhan Mantri Jan Dhan Yojana.
During a video conference, Bill and Melinda Gates Foundation co-chair Bill Gates and Prime Minister Modi agreed that given India's willingness and capacity to contribute to global efforts, it was important for New Delhi to be included in the global discussions for coordinating responses to the pandemic.
Digital literacy is emerging as the professional language of 2024. It is the ability to process complex data sets, deploy critical communication technologies appropriately and validate your importance at your workplace, explains Jagdeep Kochar, managing director, Baker & Taylor India.
The supply chain for fast-moving consumer goods (FMCG) companies is seeing congestion due to persistently low demand. This has led to an increase in inventory days, with stocks accumulating at distributors and compelling them to extend higher credit periods to retailers. Distributors, Business Standard spoke to, revealed that demand inventory days have more than doubled in some cases, forcing them to offer credit terms as long as 45 days to retailers, as consumer offtake continues to face pressure.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
Payal Kumari, daughter of a migrant worker from Bihar, battled the odds including financial woes, to top the BA archaeology course at Kerala's Mahatma Gandhi University.
Jeetega Bharat has selected 125 Lok Sabha seats across the country where it will assist the Opposition alliance.
Policy with regard to the foreign banks is part of his five pillars of reforms, says RBI Governor.
India on Tuesday told the UN General Assembly that the days when a few nations set the agenda and expected others to fall in line are over, underlining that its presidency of the G20 sought to focus on key concerns of the many, not just the narrow interests of a few.
In New Delhi, Singh will continue US administration's ongoing consultations with India, and advance a range of issues in the US-India economic relationship and strategic partnership.
"Lady candidates need not apply." So read the postscript in a job notice from Telco (now Tata Motors) on a notice board in the corridors of the Indian Institute of Science, Bangalore (now Bengaluru), in 1974. Irked, Sudha Murty, who was then pursuing her masters in computer science at the institute, wrote a postcard to JRD Tata, expressing her surprise at this gender discrimination, especially since the Tata Group were pioneers on many fronts. Shortly, Murty became the first woman on the firm's shop floor.
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
Chanda Kochhar said a large section of youth, mainly underprivileged have little access to training that can increase their employability.
Soon after Prime Minister Modi's assertion, the G20 countries also came down heavily on terrorism.
The meeting will be attended by all heads and EDs of public sector banks
Pradhan Mantri Jan Dhan Yojana scheme will help in bringing the benefits of formal banking system to even the poorest of poor.
The investment was committed to by Vittorio Colao, CEO of Vodafone Group Plc.
US President Barack Obama on Sunday affirmed his commitment to enhancing India's 'voice and vote' in global financial institutions like IMF.
Any move of the present government to appease the Marathas may boomerang. Eknath Shinde is a worried man with the agitation not having an easy solution, notes Ramesh Menon.
Ravi Gopalakrishnan, head-equities, Canara Robeco Mutual Fund, tells Ashley Coutinho that earnings growth will pick up once the benefits of reform initiatives accrue.
The bank chiefs have also cancelled the customary media conference after the bi-annual policies.
Reliance Industries Ltd on Friday reported a 27 per cent jump in its September quarter net profit as earnings from the oil and gas business rebounded, and a pick-up in fashion and grocery helped boost retail revenues. The oil-to-retail-to-telecom conglomerate's consolidated net profit of Rs 17,394 crore, or Rs 25.71 per share, in July-September - the second quarter of the current 2023-24 fiscal - was 27.3 per cent higher than Rs 13,656 crore, or Rs 19.92 a share, earning a year back, the company said in a statement. The net profit was also higher quarter-on-quarter compared to Rs 16,011 crore earnings in the preceding three months ended June 30.
"I invite each one of you to become a partner in India's growth story. And once again assure you of our wholehearted support."
To deepen the financial inclusion process, and help get more people under the formal financial system, the RBI has mooted the idea of small banks and payments banks.
.jpg)
The Reserve Bank released a report on 'Banking Structure in India -- The Way Forward' in August 2013, which covered issues such as consolidation of large-sized banks with a view to have a few global-sized banks and the desirability and practicality of having small, localised banks as preferred vehicles for financial inclusion.
Gajendra Singh Shekhawat, Vasundhara Raje, Satish Poonia, Kailash Choudhary: Who will it be if the BJP comes to power in Rajasthan next year?
She said I treated her like a bachchi. At another moment, she said I had gone to various people and 'bitched' about her. She also threatened to bring the entire matter to the PM's notice. A revealing excerpt from Subhash Chandra Garg's We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.
The BSE Mid-Cap index was currently up 0.83%. The BSE Small-Cap index was currently up 0.8%.
A senior official with Muthoot Finance said the group would also want to apply for a universal licence.
Like China, India too should connect the dots and move ahead with a long-term perspective in Afghanistan, advises Ambassador M K Bhadrakumar.
Government's financial inclusion mission is well intentioned, but it may be putting a severe strain on the banking sector.
Former Banque de France head Jacques de Larosire was given the Lifetime Achievement Award for his lengthy struggle for monetary order, the magazine said in a statement on Monday.
