The BJP's manifesto speaks about the Prime Minister's vision of making 'Atmanirbhar Bihar'.
Finance Minister Arun Jaitley on Sunday said the government is planning to bring down its stake in public sector banks to 52 per cent so as to meet Rs 3 lakh crore capital requirement.
Umesh Sachdev's startup produces software allows people to interact with their phones in local languages.
Last year, FDI cap in insurance was hiked to 49%
Non-resident individuals (NRIs) have also been allowed to apply for the niche banking licence, provided they plan to return to India.
ICICI Bank chief Chanda Kochhar on Wednesday said "disruption" will happen in the industry due to technology and not because of the entry of new entities in the market.
Indian-American business leaders meet to discuss ways to make this initiative a success.
Rate-sensitive sectors like banks, auto and realty witnessed strong buying demand in trades today
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'India is doing better than when we took office 17 months ago'.
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The RBI has accepted the application withdrawal request, according to the statement.
'In FY21, as of October, LIC has booked a profit of Rs 18,800 crore through sale of equities.'
Draft guidelines for Small Banks and Payments Banks were issued by the RBI in July and comments were invited till August 28.
This will cost the government Rs 3.1 trillion, about 10 per cent of its annual expenditure, and higher than any other spending item in its Budget.
Modi said his government has taken 'historic' decisions and the nation progressed rapidly in the last one year, even as he acknowledged that there is a lot that needs to be done and many challenges and problems face the country.
Superheroes, supervillains, biopics, thrillers, teenage dramas, shaadis, Sukanya Verma offers an all-you-can-eat buffet on OTT this long weekend.
Totackle the serious challenges faced by the banking sector, the government will bring in more professional management and boards in the banks.
Your promise to protect bankers for their commercial decisions is a huge confidence booster, but how does one define a commercial decision? Are our investigative agencies well equipped to dissect lending decisions of bankers?
Jeswin Aldrin, who had already qualified for the championships, however missed the cut.
While the Framework would support small and medium enterprises in exploring new business opportunities, the US-India Financial and Economic Partnership would deal with economic, financial and investment-related issues.
The challenge ahead for central and state governments remains enormous.
The Reserve Bank on Wednesday retained the GDP growth forecast at 9.5 per cent for the current fiscal but cautioned that the economic recovery is not yet strong enough to be self-sustaining and durable.
The apex court observed that the government could not deny benefits to those who did not have not Aadhaar numbers.
Billionaire Mukesh Ambani on Wednesday pitched for using the USO Fund to subsidise smartphones for select groups to help penetrate the digital revolution and said India should make the rollout of 5G or the fifth-generation technology standard for broadband cellular networks a national priority. As much as 5 per cent of the licence fee paid by telecom operators goes to the Universal Service Obligation (USO) Fund, which was set up in April 2002 for achieving universal service objectives by providing access to telephone services in rural and remote areas and creation of infrastructure for mobile services and broadband in these areas. However, according to the CAG, less than half of the funds so collected are transferred for the said purpose.
It's seen as a signal that he wants to engage with India Inc at a time when the economy has started looking up.
The agreement on sharing of financial information is a distinct and welcome break from its trend.
To help the country emerge as a true welfare State, political parties must put the country's interests first before strategising to win elections and short-term goals, argues Ramesh Menon.
Challenges abound but innovation is key for new banks inorder to survive.
It was supposed to be a panacea against corruption, leakage and a magic wand for financial inclusion. But everywhere you look are people who enrolled, only to fall through the cracks again.
The US intends first to cripple the Afghan government financially through sanctions, freezing of assets, denial of access to international banking, etc, and then proceed to do pretty much what it wants to do with scant regard for Afghanistan's sovereignty, predicts Ambassador M K Bhadrakumar.
Infosys, country's second largest software services firm, has not made any profit on government projects because of red-tapism and other issues, its co-founder N R Narayana Murthy said.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
In his final address, the president said that the soul of India resided in "pluralism and tolerance.
'It is going to be a tough balance for the RBI to manage economic stability and ensure smooth government borrowing.'
'Imagine taking care of a patient who is infected with Covid. A human nurse is unable to do that due to fear of infection. The robot can do that task, while it is controlled or supervised by the human nurse. So the robot becomes an extension of the nurse.'
Household indebtedness is higher in the southern states as compared to the other parts of the country, a report said on Tuesday. Citing the All India Debt and Investment Survey (AIDIS) data from 2013-2019, domestic agency India Ratings said household indebtedness both in rural and urban areas was higher in southern states than rest of India. In 2019, Telangana with 67.2 per cent had the highest proportion of its rural households indebted and Nagaland with 6.6 per cent had the lowest proportion of its rural households indebted.
India's huge digital prowess and potential will play a huge role in enabling digital lending, says Romita Majumdar.
Maharashtra and Delhi lead the pack of states in terms of absolute number, with 142,425 and 125,937 closed companies, respectively.
Bankers need to take a call on whether they will allow technology firms to run banks or banks themselves will turn into tech firms, says Tamal Bandyopadhyay.
The Comptroller and Auditor General of India on Monday reported multiple irregularities in the accounts of units under the IT and telecom ministries, including purchases of hardware and software worth Rs 890 crore by NICSI in contravention of rules. In its audit report for financial years 2017-18 and 2018-19, the Comptroller and Auditor General (CAG) has flagged anomalies in the decision taken by state-run telecom firm BSNL, C-DoT, the Department of Posts, ITI Limited and CDAC that had adverse financial implications. "NICSI procured hardware and software costing Rs 890.34 crore through the 'Strategic Alliance' route in contravention of General Financial Rules, 2005 and departmental instructions and thus failed to ensure transparency and competitiveness in the procurement process," according to the CAG report tabled in Lok Sabha on Monday.
The Department for Promotion of Industry and Internal Trade (DPIIT) will soon start public consultation for a national retail trade policy, which is likely to include an insurance scheme aimed at providing financial protection against losses caused by theft, accidents or natural calamities. The policy will also spell out ways to give traders access to low-cost finance, promote digital inclusion, and create necessary infrastructure to support them, a senior government official told Business Standard. This is expected to offer relief especially to traditional traders, who are facing stiff competition from large e-commerce players.
