Railway passengers can book their tickets and do shopping using RuPay pre-paid debit cards.
The RBI governor also said he is not 'overly' worried about any interest rate hike by the Federal Reserve, saying the country had enough foreign exchange reserves.
The company will transfer its wallet business, which has over 218 million mobile wallet users, to the newly incorporated entity -- PPBL -- under the payments bank licence awarded to Vijay Shekhar Sharma, the founder of One97 Communications that owns Paytm.
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.
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.
Seven years is a long time for any of Modi's promised actions to show up. If voters are angry and cynical today, it is because the rhetoric stings, argues Ramesh Menon.
Categories such as lifestyle, food and electronics accounted for over 1,350 sellers across the country last year.
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.'
RuPay is working on how to increase offers to customers. It is also focused on technology innovation in the card payment system.
BJP on Thursday said while claiming the exercise had brought back "hope" into the economy by charting a roadmap for the country's economic resurgence.
India on Monday sought comprehensive reform of international financial institutions to enable enhanced capital flows and infrastructure investment in developing markets, which it said will strengthen recovery from the worst global economic crisis since 1945.
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.
The company did not respond to specific queries on the project's expansion.
After a strict lockdown impacting sales, India has returned to the growth path again, Anglo-Dutch FMCG major Unilever has said. The return of growth of India business, along with Brazil and continued recovery in China, helped the company's emerging markets clock a growth of 5.3 per cent in the September 2020 quarter.
Prime Minister Manmohan Singh and UPA Chairperson Sonia Gandhi will inaugurate country's first all-women Bharatiya Mahila Bank in Mumbai on November 19, the birth anniversary of former Prime Minister Indira Gandhi.
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.
With economic growth slowing to a six-year low, IMF Chief Economist Gita Gopinath says the government should undertake structural reforms such as bank clean-up and labour reforms to address the slowdown in domestic demand. She rooted for government policies focusing on managing a slowdown in domestic demand, and on boosting productivity growth and supporting employment creation in the medium term.
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.
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.
Any return to 9-10%(economic) growth is some years away.
Nadella's visit comes at a time when the Indian government is taking a strong position on issues like data localisation and tightening the rules for e-commerce companies as well as social media platforms.
The Ministry of Information and Broadcasting runs various awareness programmes for the citizens leveraging the Internet and the social media.
He stressed that reform for him was just a way station on the long journey to the destination and the destination is the transformation of India.
The Birlas are investing $100 million in the financial services business in fiscal beginning April 1.
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.
The Sebi chief said that although the idea of an SRO has been challenged in court, he is hopeful of its implementation.
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.
While three of the top five FPIs - Capital, Government of Singapore, and Vanguard - have seen their investment value more than triple, India's benchmark indices have risen just 70%.
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A rule change may make Nachiket Mor, among others, eligible to replace Chakrabarty.
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SBI will hold 30 per cent in RIL joint venture
'The idea of aligning with different political parties -- parties that are relevant at a particular period -- is opportunistic and unacceptable.'
An executive director of a bank could, for example, be elevated to the post of chairman of a different bank.
India does not have a unified regulatory regime to counter Ponzi, or pyramid, schemes whose operators typically grab new deposits to meet their promise of guaranteed returns to existing savers, point out Manoj Kumar and Mayank Bhardwaj.
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.
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.
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.
The talks took place in a beach resort in Benaulim on the sidelines of a meeting of the Council of Foreign Ministers of the Shanghai Cooperation Organisation.
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?
