'We are cautious only on sub-sectors that have seen massive melt-up during the past six months.'
The government scheme has a long way to go before its ultimate goals of universal financial inclusion and financial literacy are achieved.
IPL chairman Arun Dhumal believes that the media rights value of the league has the potential to touch a staggering USD 50 billion over the next two decades, provided it keeps innovating and improvising with fans' interests in mind.
Shares of HDFC Bank will witness massive inflows totalling $600 million from passive trackers this week, predict analysts. This influx is attributed to the rebalancing activities in the S&B BSE Sensex and the Financial Times Stock Exchange (FTSE) indices. The Sensex is set for its quarterly rebalancing act on September 15 (date of adjustment), resulting in inflows of $102 million (approximately Rs 850 crore).
'If rate cuts happen, bond yields will come down and investors will make mark-to-market capital gains on them.'
Approximately 80 leaders from more than 26 political parties are expected to attend the third meeting of the INDIA alliance in the country's financial capital, they said.
The year 2014-15 could well go as one of long-pending financial sector reforms, expected to have a lasting impact.
'When manufacturing or even services cannot generate the kind of employment they are looking for, they prefer to be unemployed rather than under-employed.'
Banks are in a tight spot as ministry wants them to open ATMs at all rural branches
The discussion will be about setting up various coordination committees, he said.
The EU mission noted that political and campaign fundraising and financial expenditure lack transparency and effective oversight.
Cricket is seen as one of the favourites given the sport's wide global reach, its financial strength and broadcast appeal.
Social stock exchange (SSE) saw its first listing on Wednesday, with SGBS Unnati Foundation becoming the first entity to take this route to avail financing. The foundation - engaged in vocational training of youth - raised Rs 1.8 crore from four investors. These include brokerage firm Zerodha and National Bank for Agriculture and Rural Development (Nabard).
A number of exhibitions at the Bharat Mandapam, the convention centre which will host key G20 summit meetings, will showcase India's technological prowess and innovation, and offer a multitude of unique experiences to the visitors.
One of the hurdles for MFIs towards becoming banks is an unsecured loan portfolio.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
It can be an useful tool in achieving the objective of Pradhan Mantri's Jan Dhan Yojana
Finance Minister P Chidambaram on Thursday expressed hope that some new bank licences would be issued before March next year.
Do these events call for serious introspection about these buzz terms?
Ajay Banga will be a 'transformative leader', who will bring expertise, experience, and innovation to the position of World Bank President, United States President Joe Biden has said after the top Indian-American business executive was confirmed as the new head of the international lender.
Policymakers should consider the challenges of beneficiary identification, distributor opposition and beneficiary financial inclusion.
After hoisting the National Flag from the ramparts of Red Fort, Prime Minister Narendra Modi delivered a 65-minute extempore in Hindi where he unveiled a roadmap for his government, announcing a financial inclusion scheme for the poor to open bank account with built-in insurance, development of model villages by MPs and launching of a scheme for elimination of open defecation.
The solution to this problem lies only in making the system more efficient, he said.
Contributions to mutual fund schemes through systematic investment plans or SIPs remain unfazed from the market volatility in 2022 with inflow growing to Rs 1.5 lakh crore in 2022, a surge of 31 per cent from a year earlier, due to higher retail participation. In comparison, an inflow of Rs 1.14 lakh crore through the route was registered in 2021 and Rs 97,000 crore in 2020, data with the Association of Mutual Funds in India (AMFI) showed. Going ahead, SIP numbers are expected to continue to remain strong in 2023 as investors are increasingly appreciating the importance of regular investing through the route, Kaustubh Belapurkar, director - manager research at Morningstar Investment Adviser India, said.
Finance Minister Pranab Mukherjee on Tuesday asked banks to tap the vast opportunity provided by the semi-urban and rural markets by converting savings in these areas into financial assets.
What some of our leaders were up to on Monday and Tuesday.
In its annual policy review on April 1, the central bank had proposed a ban on prepayment penalties.
The Reserve Bank of India has formulated strategic polices to enhance growth in banking sector.
The Indian postal network is the largest in the world with 155,015 post offices in the country, 90 per cent of which, that is 139,144, are in the rural areas.
Foreign portfolio investors (FPIs) have withdrawn over Rs 12,000 crore from Indian equities this month so far, mainly due to a sustained rise in US bond yields and the uncertain environment resulting from the Israel-Hamas conflict. However, the story takes an intriguing turn on observing FPI activity in Indian debt as they have infused over Rs 5,700 crore into the debt market during the period under review, data with the depositories showed. Going ahead, the trajectory of FPIs' investments in India will be influenced not only by global inflation and interest rate dynamics but also by the developments and intensity of the Israel-Hamas conflict, Himanshu Srivastava, associate director - manager research, Morningstar Investment Adviser India, said.
Finance Minister Arun Jaitley might next month launch mobile banking services for people not using smartphones.
The board has decided to expand into all financial services for the rural population. SKS would, however, continue to be a strong player in the microfinance business. Financial inclusion would continue to be in the centre of our activities.
Walmart-owned digital payments app Phonepe on Thursday said it has raised $350 million at a valuation of $12 billion in a funding round led by private equity firm General Atlantic. "Marquee Global and Indian investors are also participating in the round," PhonePe said in a statement adding the investment marks the first tranche of an up to $1 billion total fundraise that commenced in January 2023. The fundraise follows PhonePe's recently announced change of domicile to India and full separation from Flipkart.
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.
Amidst rising demand from banks that they be allowed to increase user fees and limit free ATMs, RBI Deputy Governor K C Chakrabarty said it is "ridiculous" for a bank to charge its own customers for these services.
"I would like to resign as an independent director of the bank with effect from January 27, 2020. Given an entity owned and controlled by me has made an application to the RBI for a universal banking license, I felt it was -- in the interest of propriety and corporate governance -- only appropriate that I stepped down from this role," Bansal said in his resignation letter, which was disclosed by Ujjivan SFB in the regulatory filing.
The lives of the kids Deepa Bhatia portrays in the series are bleak, with small periods of sunshine when they get picked for an ad or serial, punctuating the longer periods of struggle, observes Deepa Gahlot.
The RBI Governor had earlier cautioned the banks on the risks involved in just hunting for numbers, asking them not to compromise on core objectives of the programme.
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.
While higher income, educated Indians are financially literate, they aren't really much better off when it comes to planning their financial futures
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