'We have to think of the repercussions if public sector banks are privatised and if they go to foreign hands.'
"In response to India's payments data circular, we've built a system that stores payments-related data locally in India," WhatsApp spokesperson said in a statement.
Microfinance portfolio of SFBs saw a muted growth of about 3% last year
Department of Financial Services is regularly emphasising the early issuance of RuPay Debit Cards, e-KYC based account opening, Aadhaar seeding, financial literacy and the progress in survey made.
Finance minister Nirmala Sitharaman on Wednesday exuded confidence that inflation would further decline and the government is on track to meet its budgetary target for deficit and said that there is no fear of stagflation in India. Replying to the debate on first batch of Supplementary Demands for Grants 2022-23 in Lok Sabha, the finance minister said inflation has come down and it is now in the tolerable band of the RBI. Inflation has been declining since April 2022 and it is declining further, she said.
Aditya Birla Nuvo gets board's nod, Videocon submits application.
The ruling Bharatiya Janata Party in poll-bound Karnataka on Friday sought to woo farmers, women and younger generation with a slew of welfare measures in its last budget in the current term, also earmarking Rs 1000 crore towards development and renovation of various temples and maths in the state.
Echoing similar views, CII too said the Prime Minister has given high importance to manufacturing and investment.
The government must expedite its plan for asset sale and privatisation, both of which hardly got any mention in the Budget speech, points out A K Bhattacharya.
Reserve bank is working with the govt to bring suitable amendments in the statutory provisions
I feel it is utterly silly to disproportionately celebrate academic achievements in school and college when there is so much life and transformation by life yet to happen, states Shyam G Menon.
'The fiscal pressure will be there, but the intent of the government behind this move is to spur demand and growth.'
IMF MD Christine Lagarde hailed the government's latest Budget.
If the CBDCs don't offer interest, why will people shift from cash to CBDCs?, asks Tamal Bandyopadhyay.
At present, 58 per cent of the population has bank account.
India's economy grew at 7.6 per cent in 2015-16.
Prime Minister Narendra Modi will address the India-US Startup Konnect and share his vision on 'Start up India, Stand up India' as part of his US visit later this month.
Per capita income has more than doubled to Rs 1.97 lakh in around nine years. Indian economy has increased in size from being 10th to 5th largest in the world in the past nine years. Seven priorities of the Budget, 'Saptarishi', are inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector.
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.
Now, 83 per cent males and 77 per cent females have formal bank accounts but they are hardly using them
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Addressing a Ficci-organised banking summit in Mumbai, he at the same time said that it will take several years for the country's banks to achieve the status of a large global bank.
However, the report pointed out that the implementation of the grievance redressal process still has many gaps as "only 22 per cent of the consumers involved in a grievance redressal process were satisfied due to the uncertain timelines involved". The Real Estate (Regulation and Development) Act, 2016, was passed by Parliament in March 2016.
'Oommen Chandy always had time for his people and valued their voices.' 'There was no rest for him as long as the betterment of his fellow citizens was at stake.' Ambassador Venu Rajamony, who knew the former Kerala chief minister for half a century, salutes a beloved leader who worked tirelessly for the welfare of its people.
Adani Enterprises became the fourth listed company of Gautam Adani Group to cross Rs 4 trillion market capitalisation (market cap), as the stock hit a new high on the BSE in Tuesday's intra-day trade. At 01:24 pm; with Rs 4.04 trillion market cap, Adani Enterprises stood at number 15th position in overall market cap ranking on the BSE, data shows. Adani Transmission is at top of the group companies list, with market cap of Rs 4.48 trillion, followed by Adani Total Gas (Rs 3.96 trillion), and Adani Green Energy (Rs 3.72 trillion).
CreditSights has dialed back on its language on debt levels at richest Indian Gautam Adani's group but has maintained that the group's leverage is elevated. In a new note published after discussions with the group's management, CreditSights, a Fitch group firm, said it "has discovered calculation errors" in its recent debt report on two Adani Group companies but these did not change its investment recommendations. On August 23, CreditSights stated that the Adani group was "deeply over-leveraged" and may "in the worst-case scenario" spiral into a debt trap and possibly a default.
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 finance ministry on Friday said 5.52 crore (55.2 million) bank accounts have been opened till October 7 and deposit of Rs 4,268 crore (Rs 42.68 billion) have been mobilised under Pradhan Mantri Jan Dhan Yojana (PMJDY).
The Alibaba-backed company had introduced the fee on March 8 after it found multiple users using its platform to get free credit by using credit cards to top up their mobile wallets and then transferring the money back to their bank accounts at zero transaction cost.
As many as 14,091 civilians and 5,356 security force personnel lost their lives to militancy in Jammu and Kashmir between the 1990s, when militancy first reared its head in the valley, and 2020.
Withdrawals from basic savings bank deposit accounts are capped at four a month, including withdrawals via ATMs.
It might be difficult to repeat the SKS success with VAYA Finserv, say analysts
As per the fifth round of the NFHS, there are 1,020 women for every 1,000 men.
Narendra Modi government, the US Treasury Secretary Jacob Lew on Thursday said India needs more reforms
In stock market parlance, "meme stock" was certainly the word of the year. Coined to mean those stocks that gain sudden popularity on the internet with resultant high prices, it was used to derisively describe the behaviour of retail traders globally who entered the market in huge numbers in the two Covid-19 years. A recent study, "Market Concentration and Retail Participation in India", by the National Stock Exchange economics team led by their chief economist Tirthankar Patnaik shows unlike these impressions, the retail investors, at least in India, have not performed inconsistently.
The two states account for 24% of total accounts opened under financial inclusion scheme.
Banks looking to raise capital via bond sales to fund decade-high credit growth were compelled to put some of these debt issuances on hold amid a sharp rise in yields since late September, sources told Business Standard. A major private lender, Axis Bank, has not yet followed through with a planned issuance of infrastructure bonds worth around Rs 3,000 crore. This is because volatility in the bond market in late September led to investors seeking higher yields, sources said.
The Budget oration of the finance minister and the confidence with which she delivered it, along with the measures and the recent upsurge in the economy would all contribute to unleashing the storied 'animal spirits' and help the economy run on the growth path quite smoothly. Or so the government hopes, notes Shreekant Sambrani.
Organisations and individuals that try to create sympathy for terrorists must also be isolated, he said addressing the third 'No Money for Terror Ministerial Conference on Counter-Terrorism Financing' hosted by the Ministry of Home Affairs.
Sitharaman cancels Myanmar trip at last moment citing launch of Modi's Jan Dhan Yojana.
The advice your mother gave you about choosing your friends wisely got a whole new meaning with lenders looking at your social media posts
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