'It's important that every portfolio is well diversified.' 'My own portfolio is diversified across asset classes: 50% is in equity funds, 15% in international schemes, 25% in debt funds and 10% in sovereign gold bonds.'
Finance Minister Arun Jaitley on Sunday said the government is planning to bring down its stake in public sector banks to 52 per cent so as to meet Rs 3 lakh crore capital requirement.
The Paytm Payments Bank will be headquartered in Noida and kick off its services from east and north to begin with
What stocks will gain from a normal monsoon?
Last year, FDI cap in insurance was hiked to 49%
Umesh Sachdev's startup produces software allows people to interact with their phones in local languages.
Non-resident individuals (NRIs) have also been allowed to apply for the niche banking licence, provided they plan to return to India.
The Reserve Bank on Thursday permitted banks to increase charges for cash and non-cash ATM transactions beyond free monthly permissible limit from next year. Bank customers will have to pay Rs 21 per transaction, instead of Rs 20, with effect from January 1, 2022, if they exceed the monthly limit of free transactions. "To compensate the banks for the higher interchange fee and given the general escalation in costs, they are allowed to increase the customer charges to Rs 21 per transaction. "This increase shall be effective from January 1, 2022," the RBI said in a circular.
When Open Network for Digital Commerce (ONDC) was conceived last December, the idea was to reduce the dominance of e-commerce giants like Amazon and Flipkart. It was also to bring in a level-playing field for small merchants in India's fragmented but fast-growing $1-trillion retail market. However, those goals have changed now as large e-commerce players such as Flipkart, Amazon and Ecom Express are in various levels of talks with the ONDC team. They want to form partnerships like integrating with the network as well as providing their expertise to build it, according to the industry sources.
ICICI Bank chief Chanda Kochhar on Wednesday said "disruption" will happen in the industry due to technology and not because of the entry of new entities in the market.
Indian-American business leaders meet to discuss ways to make this initiative a success.
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The RBI has accepted the application withdrawal request, according to the statement.
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'India is doing better than when we took office 17 months ago'.
The BJP's manifesto speaks about the Prime Minister's vision of making 'Atmanirbhar Bihar'.
Draft guidelines for Small Banks and Payments Banks were issued by the RBI in July and comments were invited till August 28.
Totackle the serious challenges faced by the banking sector, the government will bring in more professional management and boards in the banks.
For the first time in 21 years, the Reserve Bank of India (RBI) will revise norms for investment portfolios of commercial banks to reflect changes in global standards on valuation and measurement, and progress in the domestic market. This could pave the way for banks to transition to the new accounting standards (Ind-AS). The outstanding investment portfolio of commercial banks was at Rs 45.84 trillion as of November 19 this year.
India's economy, estimated to contract by 6.9 per cent in 2020 due to the coronavirus pandemic, is forecast to record a "stronger recovery" in 2021 and grow by 5 per cent, according to a UN report which said the country's current fiscal year budget points to a shift towards demand-side stimulus, with an uptick in public investment. The report, 'Out of the frying pan ...Into the fire?' published Thursday as an update to the Trade and Development Report 2020 by UN Conference on Trade and Development (UNCTAD) said the global economy is set to grow by 4.7 per cent this year, faster than the 4.3 per cent predicted in September 2020, thanks in part to a stronger recovery in the US, where progress in distributing vaccines and a fresh fiscal stimulus of $1.9 trillion are expected to boost consumer spending.
While the Framework would support small and medium enterprises in exploring new business opportunities, the US-India Financial and Economic Partnership would deal with economic, financial and investment-related issues.
Akasa Air, which took to the skies two months ago, will allow domesticated dogs and cats in cabin as well as cargo from November and will also be starting new routes in the coming weeks. The airline, which is "well capitalised", plans to start international services in the second half of 2023 once it has a fleet of 20 planes. Currently, the carrier has 6 aircraft and will have a total of 18 planes by the end of March next year.
To curb excessive volatility in mid and small cap counters, the BSE has introduced a new surveillance measure for certain stocks having a market capitalisation of less than Rs 1,000 crore. The new measure, add-on price band framework, will be applicable to companies with a market-capitalisation of less than Rs 1,000 crore and on securities in groups -- X, XT, Z, ZP, ZY, and Y, BSE said in a circular on Wednesday. Under the framework, the shortlisted securities will be subjected to additional periodic price limits of weekly, monthly and quarterly.
The challenge ahead for central and state governments remains enormous.
The apex court observed that the government could not deny benefits to those who did not have not Aadhaar numbers.
The G20's Bali Declaration Wednesday acknowledged differences among members on the Russia-Ukraine war but said it was essential to adhere to international law, including protection of civilians caught in conflicts.
Modi said his government has taken 'historic' decisions and the nation progressed rapidly in the last one year, even as he acknowledged that there is a lot that needs to be done and many challenges and problems face the country.
'In FY21, as of October, LIC has booked a profit of Rs 18,800 crore through sale of equities.'
Challenges abound but innovation is key for new banks inorder to survive.
The agreement on sharing of financial information is a distinct and welcome break from its trend.
The Indian Olympic Association presented cash rewards worth Rs 20 lakh, 10 lakh, and 7.5 lakh to the gold, silver and bronze medallists respectively.
Infosys, country's second largest software services firm, has not made any profit on government projects because of red-tapism and other issues, its co-founder N R Narayana Murthy said.
Prime ministers turning up with such frequency to launch trains is an indication of the political mileage resident in public transport. Will our railways step out of the government's shadow? After all, they are the ones manufacturing trains and running them, notes Shyam G Menon.
It was supposed to be a panacea against corruption, leakage and a magic wand for financial inclusion. But everywhere you look are people who enrolled, only to fall through the cracks again.
It's seen as a signal that he wants to engage with India Inc at a time when the economy has started looking up.
This will cost the government Rs 3.1 trillion, about 10 per cent of its annual expenditure, and higher than any other spending item in its Budget.
In his final address, the president said that the soul of India resided in "pluralism and tolerance.
Your promise to protect bankers for their commercial decisions is a huge confidence booster, but how does one define a commercial decision? Are our investigative agencies well equipped to dissect lending decisions of bankers?
Exchanges believe its legal status may now change, with the government pushing for digitised transactions.
The Reserve Bank on Wednesday retained the GDP growth forecast at 9.5 per cent for the current fiscal but cautioned that the economic recovery is not yet strong enough to be self-sustaining and durable.
'The idea of aligning with different political parties -- parties that are relevant at a particular period -- is opportunistic and unacceptable.'
Two key depts in ministry cold to rationale for one; postal dept says it's more eligible than IDFC or Bandhan, feels 'strong lobby' scuttling its plans.
