Reserve bank is working with the govt to bring suitable amendments in the statutory provisions
Using ATMs beyond the permissible free transactions for cash as well as non-cash purposes will cost more from Saturday. As per the Reserve Bank directive issued in June, the banking customers would be required to pay Rs 21 per transaction with effect from January 1, 2022 for transactions beyond the free permissible limit. Presently, banks are allowed to charge Rs 20 for such transactions through ATMs.
Prime Minister Narendra Modi on Friday called for developing a template by the Shanghai Cooperation Organisation (SCO) to effectively deal with the challenges of extremism and radicalisation.
In his opening remarks at the G20 Leaders' Summit at the Bharat Mandapam in New Delhi, Modi said the 21st century is a time of giving new direction to the world.
India is worried about Pakistan getting the Taliban to ignite trouble in Kashmir, observes Ramesh Menon.
It's time to re-examine government's role as owner of banks,
The department of financial services has decided to give banks commission, to ensure these accounts are kept active.
Group term insurance is far more cost-effective than an individual cover.
Senior Congress leader B K Hariprasad's statements regarding ministerial and chief ministerial posts, along with his veiled dig at Karnataka Chief Minister Siddaramaiah seems to have created a sense of unease within the ruling party in Karnataka.
Prime Minister Narendra Modi will on Friday launch two schemes of the Reserve Bank of India (RBI) that may go a long way in changing how the household sector invests, and complains if anything goes wrong with their savings. These schemes - retail direct and an integrated ombudsman - will be launched by the Prime Minister virtually, in the presence of Finance Minister Nirmala Sitharaman. With the introduction of retail direct, a common man can directly take a position in government securities (G-Sec), considered to be the safest asset class a sovereign can offer.
The India personal computer (PC) market shipment, inclusive of desktops, notebooks, and workstations, dropped by an overall 30.1 per cent in the first quarter of CY2023 over the previous year, to only 2.99 million units, according to the latest data from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker released on Tuesday. In Q1CY23, while the demand for desktops was positive, the notebook category witnessed another weak quarter as it declined by 40.8 per cent year-on-year (y-o-y). The consumer segment declined by 36.1 per cent y-o-y primarily due to slowing demand and weak market sentiment.
Aditya Birla Nuvo gets board's nod, Videocon submits application.
Mukesh Ambani said the Digital India initiative has the potential to transform the lives of 1.2 billion Indians using the power of digital technology.
'For all of us at Amazon, it is 'Bharat first'.' 'We are keeping the Indian customer at the centre of what we are doing.'
Now, 83 per cent males and 77 per cent females have formal bank accounts but they are hardly using them
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
Showing respect to the Indian flag, Prime Minister Narendra Modi on Wednesday immediately picked up the tricolour placed on stage at a BRICS meeting here to mark the standing place of every leader so as not to step on it.
Companies don't have to be in the field to nudge people to return money they owe lenders.
RRBs were formed under an Act to provide credit to small farmers, agricultural labourers and businesses in rural areas.
The first stage of the inclusion strategy was focussed on opening bank accounts, logically seen as creating the last-mile channels for financial access.
The move to ban Rs 500 and 1000 notes may not curb the root cause of black money.
'The government is encouraging consumption through fiscal spending in a bid to push up economic growth in the face of a slowdown in corporate investment and exports.'
Let's wait for the monetary policy on February 8 -- to see how it complements the fiscal commitments, points out Tamal Bandyopadhyay.
The Pradhan Mantri Jan Dhan Yojana will provide accident insurance of Rs 100,000 to all people who open bank accounts under this scheme.
The Congress on Monday promised that a government led by it will conduct a nationwide caste census and implement 33 per cent reservation for women in the Lok Sabha and state legislative assemblies at the earliest, including adequate representation for women belonging to the OBC community.
From auto, refrigerator, and mobile handset makers to real estate firms, companies are tying up with banks to dole out attractive finance schemes and discounts to make buying more affordable.
It might be difficult to repeat the SKS success with VAYA Finserv, say analysts
A culture of science and innovation must be embedded in society wherein people not only use new technology but understand it as well. Without this, obscurantism and blind faith can sit side by side with digital technology and, in fact, use the same technology to reinforce their hold on people, says Shram Saran.
Raghuram Rajan optimistic about passage of GST
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
It is widely believed that Nandan Nilekani's meeting with Prime Minister Narendra Modi saved the ambitious Aadhaar project from oblivion or a takeover by the home ministry.
The pandemic has led to the International Finance Corporation massively ramping up its impact investment in the country - its largest client nation globally - at $1.7 billion as of June, a 51 per cent rise over the past 12 months, the largest developmental lender into third world private sector said on Tuesday. This is nearly half of its investment in the whole of South Asia since the pandemic, which touched $3.8 billion as of June 2021, it said. "Our total commitment to India, which is our largest client country globally, at the end of June stood at $1.7 billion representing an increase of over 51 per cent from last year," IFC vice-president for Asia and the Pacific region Alfonso Garcia Mora said in a statement.
'If we don't want to be the poorest large economy even in 2030, we need to be doing very much more than is being attempted.'
It is evident that the younger generation is increasingly choosing to postpone or completely forego the idea of getting married, observes Sybil Shiddell, country manager India, Gleeden, a discreet extra marital dating Web site.
At present, 58 per cent of the population has bank account.
Never one to mince words, Rajan will walk away with a mixed legacy
Alleging that Sanatana Dharma is against equality and social justice, Dravida Munnetra Kazhagam youth wing secretary and Tamil Nadu Youth Welfare Minister Udhayanidhi Stalin has said it should be eradicated.
Reliance Jio Infocomm (RJIL) has written to the Telecom Regulatory Authority of India (Trai) stating that a recent complaint against it by Bharti Airtel is a deliberate, malicious attempt at defaming RJIL's consumer-friendly tariff. RJIL has also asked the regulator to warn Airtel against 'making such frivolous complaints in the future'. The move is in response to Airtel recently requesting Trai to bring content aired through broadband under the regulatory fold and keep a check against discriminatory bundling tactics.
Receiving Ganga water by post could be a reality soon as the government endeavours to tap the e-commerce platform to bring the holy water at the doorsteps.
Unemployment rate in the country has zoomed to a high of 8.3 per cent in December, the highest in 2022, according to data from Centre for Monitoring Indian Economy (CMIE). The unemployment rate during November was at 8 per cent, while in September it was the lowest at 6.43 per cent and was at the second highest level during the year at 8.28 per cent in August, the CMIE data stated. While the urban unemployment rate was at 10 per cent during the last month of 2022, rural joblessness stood at 7.5 per cent during December.
