Private sector banks in India are taking the lead in the adoption of Artificial Intelligence (AI) in areas like fraud detection, customer segmentation, and chat automation, according to a Reserve Bank of India (RBI) study. The asset size and capital adequacy ratio are influencing the rate of adoption.
A 10-part series that explains all you want to know about how India's EPF turns a slice of your monthly salary into long-term savings, pension, and life insurance.
The bail plea of fugitive diamonds trader Mehul Choksi, wanted in India in connection with over Rs 6300-crore fraud in the Punjab National Bank (PNB), has again been turned down by a court of appeal in Belgium, just ahead of his extradition hearing before a court in that country, officials said. The court rejected the appeal on strong reasons conveyed by the CBI to the Belgian prosecution that Choksi had escaped from many jurisdictions earlier as well to evade legal proceedings and may flee to another country if let out on bail, they said.
Bahrain has of late emerged as a regional hub for banking because of low tax rates and easy regulations. At present, 409 banks and financial institutions have operations there.
India's computer services exports have risen 30 per cent since the advent of ChatGPT in November 2022, even as overall services exports have plateaued, World Bank's South Asia Chief Economist Franziska Ohnsorge said, terming Artificial Intelligence (AI) and the conclusion of more trade agreements that can trigger a "manufacturing renaissance", as the two big investment opportunities for India in coming years.
In a relief to liquor baron Vijay Mallya, the high court in London has deferred hearings on a plea by the SBI-led consortium of Indian banks, seeking the indebted tycoon to be declared bankrupt to enable them recover a loan of around 1.145 billion pounds from him. Justice Michael Briggs of the insolvency division of the high court granted relief to Mallya, ruling that he should be given time till his petitions to the Supreme Court of India and his settlement proposal before the Karnataka high court be determined, allowing him time to repay his debts to the banks in full.
'I realised why the farmers and the rural folks are going for Trump. They are so insecure and vulnerable that anybody who is throwing a line of hope to them, they seize it.'
Fast-moving consumer goods (FMCG) companies, retail firms, and producers of consumer durables are witnessing stable urban demand. However, people in the trade are waiting for clearer signs of revival closer to the festival season, starting in September.
: Build lasting wealth via disciplined, long-term mutual fund investing in India's compounding marathon, Shanaihi, Shanaihi, says Ramalingam Kalirajan
'The frenzy for gold is primarily due to the uncertainty surrounding the tariff war.'
Indian information-technology (IT) service providers are likely to report another quarter (July-September) of low, single-digit growth owing to macro uncertainties, chiefly emanating from America, with no respite in sight even in the second half of the year.
A stress test on 30 Indian banks, which account for 78 per cent of the banking system's assets, indicates that capital is protected for a majority of the banks. However, some weak banks would need to raise core capital to guard against the effects of the current downturn in the credit cycle, Fitch said in a statement.
The Securities and Exchange Board of India (Sebi) has planned a slew of further relaxations to facilitate easier registrations of foreign portfolio investors (FPIs), including a common know-your-client (KYC) and smoother documentation through India digital signature.
'On the evening of the 17th, the RBI said the bank was put on moratorium.' 'Within an hour, the RBI said it would be merged with DBS.' 'How did DBS come to know within an hour that LVB was in trouble?' 'It means, what happened was match-fixing.'
S&P Global Ratings on Monday said systemic risk in Indian banks is likely to remain high in the wake of the second wave of COVID-19 and high proportion of weak loans. S&P estimates the weak loans in banks at 11-12 per cent of gross loans.
While a giant, it's a nimble-footed one, and is growing at a speed that even some of its private sector peers find enviable.
Between FY18 and FY24, it doubled its balance sheet. Despite being a late entrant in some segments, it has been able to grab market share, observes Tamal Bandyopadhyay.
Indian banks have started exploring opportunities in the space, including lending to crypto exchanges, and accepting bitcoins as collateral, among others.
The strategy was straightforward - aggressively buy select Bank Nifty index stocks in the morning and sell them just as forcefully later in the day, triggering a sharp drop in share prices.
'I have a deep affection for Indian cricket. If someone asked me to come back, I wouldn't say no.'
Markets regulator Sebi has ordered the attachment of bank accounts and shares and mutual fund holdings of absconding diamantaire Mehul Choksi to recover dues totalling Rs 2.1 crore in a case of violation of insider trading rules in the shares of Gitanjali Gems.
The goalkeeper turned in a fine display as the bankmen beat Mahindra United 2-1 in the National Football League.
Among Sensex firms, Trent, Power Grid, Tata Motors, Tata Consultancy Services, Asian Paints, NTPC, Adani Ports and Bajaj Finance were the laggards. However, Bharat Electronics, Axis Bank and Bharti Airtel were the major gainers.
The sub-prime mess has presented the foreign units of domestic banks with lucrative investment opportunities. Global banks, struck by a severe liquidity crunch and risk aversion, are selling a lot of their investments in debt of Indian companies at a discount.
Persisting uncertainties related to the US trade policies pose downside risk to the overall demand in the Indian economy while the inflation outlook for the near term has become more benign than anticipated earlier, RBI said in its latest bulletin on Thursday. In the August bulletin, the Reserve Bank of India (RBI) also said that India's sovereign rating upgrade by S&P bodes well for capital inflows and sovereign yields, going forward.
'If we want to pivot meaningfully from a services-driven economy to a technology and manufacturing-led one.'
Given the strong interest among rich Indians to settle abroad, the Dubai-based company has opened a full-fledged office in New Delhi and plans to follow it up soon with an office in Mumbai and then a few in central and southern parts of the country.
Given the strong interest among rich Indians to settle abroad, the Dubai-based company has opened a full-fledged office in New Delhi and plans to follow it up soon with an office in Mumbai and then a few in central and southern parts of the country.
Delhi Police on Monday questioned Chaitanyananda Saraswati in connection with allegations of sexual harassment of female students at Sri Sharda Institute of Indian Management.
Tech giant Apple has stopped accepting payments via debit and credit cards in India. Apple has stopped accepting cards for subscriptions, and purchases using credit cards issued by banks in India. Apple will also not accept payments for ad campaigns on Apple Search using credit cards issued by Indian banks. All campaigns will be put on hold from June 1.
'We were the best team in Asia at one point. Today, we are barely in the reckoning for the Davis Cup.' 'Players now, especially this decade, lack perseverance.'
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
Credit quality of Indian corporate is expected to be stable in the second half of the current financial year (H2FY26), supported by easing monetary cycle, and declining inflation, coupled with income-tax relief and rationalisation of the goods and service tax (GST) rates, among others.
While the first three parts of the operation, codenamed 'Red Spider', dealt with Indian banks (both private and state-run), the fourth part targeted a couple of foreign banks.
'I disagree with much of Modi's politics, but it cannot be denied that in these years in office, he has carved more than a niche for himself in history,' points out Nilanjan Mukhopadhyay, author, Narendra Modi: The Man, The Times.
'When global politics has some intervention on the core software one uses, and if you are cut off from your own data in critical workflows, sovereignty is no longer optional. It becomes a necessity.'
State Bank of India has become the first Indian bank to start commercial operations in China, confident of tapping and aiding the booming trade and commercial linkages between the two Asian giants.
'When you have the best market at your doorstep, international diversification is a distraction.'
Fifty per cent of bank restructured assets were in infrastructure, steel, power and telecom sectors.
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