Soon after Prime Minister Modi's assertion, the G20 countries also came down heavily on terrorism.
High interest rate, policy uncertainty in the year of elections, along with risk aversion led to slow takeoff in credit demand on the corporate front.
Chanda Kochhar said a large section of youth, mainly underprivileged have little access to training that can increase their employability.
Analysts on Wednesday welcomed the Reserve Bank's decision to grant bank licences to Bandhan and IDFC, but expressed dismay that only two of the over two dozen aspirants made the cut.
'Any entrepreneur who wants to create companies on blockchain will have to move outside India.' 'A ban will also wipe out the entire asset investing class that has built up in India.'
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.
The government plans to transfer all subsidies including food, fertiliser and kerosene, potentially taking direct payments to more than $60 billion.
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.
'Professors can teach even when they are 90 because they don't lose their skill with words. Go deeper and there's spirituality in it.'
If your flight is cancelled or delayed or you miss one, a travel insurance policy can cover the costs at such times and help you book a new one.
The elements are all aligned to make India a global powerhouse, says IMF Managing Director Christine Lagarde.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
The Centre will promote Kisan Drones, chemical-free natural farming, public-private partnerships for the delivery of digital and high-tech services to farmers across the country during the financial year 2022-23, Finance Minister Nirmala Sitharaman said on Tuesday. Presenting the Budget 2022-23 in Parliament, Sitharaman said the inclusive development is one of the four priorities of the government moving forward. As part of the inclusive development, the government will promote the use of 'Kisan Drones' for crop assessment, digitisation of land records and spraying of insecticides. The government will also facilitate a fund with blended capital raised under the co-investment model through Nabard to finance agri start-ups and rural enterprises, she said.
Rajan said expecting the government to provide all solutions wasn't right.
RRBs were formed under an Act to provide credit to small farmers, agricultural labourers and businesses in rural areas.
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 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.
.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.
It's time to re-examine government's role as owner of banks,
Payments banks are niche banks set up by the Reserve Bank of India to further the agenda of financial inclusion.
Modi cautioning that cryptocurrency can spoil the youth.
Policies to break down the business group format are far more likely to be effective, argues Simon Commander.
Lauding the pro-reforms approach adopted by Reserve Bank of India Governor Raghuram Rajan, industry body Confederation of Indian Industry on Thursday expressed the hope that the central bank would shift towards an expansionary monetary policy by cutting interest rates to stimulate growth.
The department of financial services has decided to give banks commission, to ensure these accounts are kept active.
.jpg)
Tata Sons, India's biggest business group, and firms controlled by billionaires Anil Ambani and Kumar Mangalam Birla are among the 26 companies that have applied for licences to open banks.
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 bank chiefs have also cancelled the customary media conference after the bi-annual policies.
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 the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
The first stage of the inclusion strategy was focussed on opening bank accounts, logically seen as creating the last-mile channels for financial access.
Muthoot Finance Recently received in-principle approval from RBI to set up White Label ATMs. The company has already chalked out setting up 1,000 such ATMs in the first year and another 8,000 in the next two years.
Irani said the "Government of India took a series of measures for ensuring safety, security and well-being of women during the COVID-19 pandemic."
India's sprawling digital public infrastructure received a glowing endorsement from billionaire philanthropist Bill Gates on Wednesday as he praised the country's "great" digital network, reliable and low-cost connectivity, and said this will be the cheapest 5G market. Under the G20 presidency of India, a session on 'Building resilient and inclusive economies- the Promise of Digital Public Infrastructure' was held on Wednesday in New Delhi, where the Microsoft co-founder spoke of India's digital identity Aadhaar, its payment infrastructure, and rapid strides that the country has taken in bringing more people into formal banking system. "India in particular, by laying the groundwork for digital public infrastucture starting with identity system, allows people to build on top of that.
Pointing out that these recent measures are incremental rather than radical, Moody's said, these steps will sustain higher gross domestic product growth and address some of the constraints on the country's sovereign credit profile.
Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday as the euphoria about the Budget fizzled out, with investors going for profit-taking ahead of the Fed interest rate decision. The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to settle at 59,708.08 after it trimmed most of the intra-day gains. During the day, it had zoomed 1,223.54 points or 2 per cent to 60,773.44.
Backed by technology banks are expanding the branch network - and adding more to the workforce.
Barring stray references such as the 'dual control' of banks and shifting the goalposts during demonetisation, he is not in a fault-finding mode with the government, notes Tamal Bandyopadhyay.
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.
FMCG major HUL on Friday announced the appointment of Rohit Jawa as the managing director & chief executive officer to succeed Sanjiv Mehta who will retire from the company after leading it for a decade. Jawa, presently the Chief of Transformation for Unilever, would take over the leadership role for a term of five consecutive years with effect from June 27, 2023, the company said in a statement. "The appointment of Rohit Jawa as a whole-time director and MD & CEO will be subject to approval of Shareholders and other statutory approvals as may be applicable," it added.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances