SBI chief Rajnish Kumar said the focus going forward will be on cost reduction, rationalisation and reskilling of workforce, improving staff productivity and redeployment of workforce from admin offices to sales roles.
Never one to mince words, Rajan will walk away with a mixed legacy
Vodafone Idea, the promoter of Aditya Bira Idea Payments Bank, said in a notification to the exchanges late on Friday that the board of the bank approved winding up the business, subject to approval from the Reserve Bank of India.
Though Narendra Modi doesn't know it, he is a victim of this deep-rooted infection.
What is it about Arohan that puts it in the top league of microfinance institutions in the country?
'The idea of aligning with different political parties -- parties that are relevant at a particular period -- is opportunistic and unacceptable.'
Wipro founder-chairman Azim Premji believes the Indian IT industry revenues will grow in double digits in the current financial year. Throughout the pandemic, which saw lockdown measures to curtail the spread of the virus, the information technology industry has kept the world running and has also adapted to the changes, Premji said, speaking at an event of the Bombay Chartered Accountants' Society on Tuesday evening. As per Nasscom, the IT industry revenues stood at $194 billion in FY21. The lobby group has ceased giving estimates of the topline growth a few years ago.
India has evidence that social media platforms are being used to raise terror funds, NIA director general Dinkar Gupta said on Thursday, underlining that the issue will be deliberated during a two-day international ministerial conference on countering terror financing.
The government has created a comprehensive budget with sharp focus on sustaining economic activity and investment but more clarity is needed on areas like taxation framework for adopting remote working on a long-term basis, IT body Nasscom said on Monday. The industry association noted that the IT/ITeS (Information Technology-enabled Services) industry has been a key driver of growth and jobs in 2020 and there is an opportunity to significantly accelerate it further. "For the IT sector, one of the biggest needs ahead of us is the development of future business models, with hybrid working becoming a reality. "We look forward for the government to provide clarity on providing a framework in direct taxes and indirect taxes for the industry to adopt WFH/remote working on a long-term basis," Nasscom said in a statement.
Tamil Nadu is the celebrated home of the 'social justice' movement in the country, yet caste differences and violence has only been increasing in numbers and becoming more brutal in recent years, observes N Sathiya Moorthy.
Raghuram Rajan optimistic about passage of GST
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.
Among other things, the agenda is likely to focus on increasing private investment, employment generation and giving relief to the farm sector
Announcing a Re 1 crop insurance scheme for farmers, the deputy CM said the government will bear the financial burden of Rs 3,312 crore.
Prime Minister Narendra Modi on Tuesday underlined the need for not promoting any restrictions on the supply of energy and called for ensuring stability while once again emphasising on resolving the Ukraine conflict through diplomacy.
It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
FM says government policies aim to contain inflation, spur growth.
'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.'
The government is working to provide healthcare schemes to poor people under the Jan Dhan initiative.
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.
RBI had earlier permitted minors to open fixed and savings deposit bank account with mothers as guardian.
Floats from 13 states, including Bihar, West Bengal, Odisha weren't present at parade
State Bank of India does not levy any charge for non-maintenance of a minimum balance in basic savings account.
India has a unique window of opportunity to effectuate long-lasting structural change in its banking sector, says Riju Agrawal.
Listing three such 'unknown knowns', UBS said that these initiatives -- Aadhaar unique identity programme, GST tax reforms and a Dedicated Freight Corridor rail infrastructure project -- are real and their effects will be felt in the foreseeable future irrespective of which political party is in power after the elections.
RBI may revise remuneration for banks.
Former England captain Michal Vaughan talks of the power dynamics that theT20 tournament will hold, while Australia spin legend and former captain of Rajasthan Royals, Shane Warne reckons IPL makes cricket second most popular sport in the world.
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.
Microsoft on Tuesday said it will offer commercial cloud services from local data centres in India by 2015 as the tech giant gears for competition for the estimated $2 trillion domestic market opportunity from rival firms like Google and IBM.
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.
Fintechs need to behave with responsibility and transparency. A lot of mis-selling has been happening. Other issues have been plaguing the fledgling industry -- high interest rates, even higher processing fees, harsh collection process and, most critically, data leakage leading to rampant frauds, points out Tamal Bandyopadhyay.
Pradhan Mantri Jan Dhan Yojana scheme will help in bringing the benefits of formal banking system to even the poorest of poor.
The other key issues to be taken up at the summit, which is expected to be attended by Prime Minister Narendra Modi, will include raising the global GDP by an additional 2 per cent in the next five years and boosting infrastructure sector funding.
The BJP's manifesto speaks about the Prime Minister's vision of making 'Atmanirbhar Bihar'.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
US president Barack Obama new initiative to help millions of proud Indian-Americans directly invest in India's future.
The company did not respond to specific queries on the project's expansion.
Superheroes, supervillains, biopics, thrillers, teenage dramas, shaadis, Sukanya Verma offers an all-you-can-eat buffet on OTT this long weekend.
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.
'Those who should have been affected benefitted from demonetisation.' 'And the vast majority who should not have been affected lost out.' 'That is the ultimate result of demonetisation.'
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