Allocation to bank deposits -- fixed deposits, savings account deposits, and current account deposits -- came down.
In order to boost its deposit base, State Bank of India (SBI) is focusing on various segments, including JanDhan account holders, trusts, societies, and the segment below the affluent class but above the normal account holders. According to Ashwini Tewari , managing director, SBI, the bank is focusing on three broad segments. One is wealth banking, where the bank is focusing on individuals who perhaps do not qualify for private banking but are above regular accounts and require individual attention.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
'The Congress can exist without (someone from) the Nehru-Gandhi family being its president.'
State-owned mining giant, Coal India, is hoping to recover around 75-80 per cent of its liabilities from customers with whom it has long-term fuel supply agreements (FSAs) after the Supreme Court (SC) allowed states to recover dues retrospectively. A legal recourse, however, is underway. "We are impacted in two states - Jharkhand and Odisha.
'There is more expansion in the industry happening in retail lines, so we will continue to focus on those lines.'
Pavel Durov, the founder and CEO of Telegram, is under formal investigation related to illicit activities on the messaging app.
Even as political acrimony over the Nuclear Liability Bill rages in and outside Parliament, India's old-time friend Russia has clearly told the Indian establishment that it will not accept any liability for the supply of equipment and other material to help India build its nuclear power plants, either in the present or future.
The Supreme Court on Monday used the legal term 'inchoate crime' to refer to mere possession of any child pornographic material that it said would constitute offences under the POCSO even if not disseminated further.
The choice of tax regime dictates how your income will be taxed. If you don't make the right pick, you might end up losing money.
In a recent townhall meeting, creditors of WazirX pressed founder Nischal Shetty and the restructuring legal team for solutions, seeking representation on the committee of creditors (CoC) and expeditious restructuring within four months, and asked for clarity on redistribution of potential gains from future crypto market upswings.
The customer will be liable in a limited manner if the negligence is on the part of the customer, such as where she has shared payment credentials
'The biggest impact will be on coal and hence on power cost. Then comes iron ore, coking coal, bauxite.'
Nasdaq-listed IT services major Cognizant on Tuesday said the firm's Chief Financial Officer (CFO) Jatin Dalal (pictured) had reached a settlement in the "non-compete" lawsuit filed by Wipro. The terms of the settlement, which was reached without any admission of liability by either party, are confidential. The settlement resolves all pending disputes between Dalal and Wipro, said the company in a statement. Cognizant has paid $505,087 (around Rs 4.1 crore) in connection with Dalal's settlement.
While horror and anger transcend all other emotions about Mumbai's Black Wednesday, eventually they will also raise issues of liability and damages. That the losses were occasioned by forces beyond the control of the management is not in doubt. Nonetheless, a critical issue would be: Whether these hotels were insured against acts of terrorism.
ZEE Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India on Tuesday said they have settled their six-month-long dispute related to the failed $10-billion merger and have agreed to withdraw all claims against each other. As part of the "comprehensive non-cash settlement" between ZEEL and Culver Max Entertainment Pvt Ltd (CMEPL), both "have mutually agreed to withdraw all respective claims against each other, in the ongoing arbitration at the SIAC and all related legal proceedings initiated in the NCLT and other forums," said a joint statement.
The growing complexity of E2Ws and the evolving threat landscape make it challenging to guarantee complete immunity from attacks.
Rs 135.3 crore. How much of it was salary, and how much commission?
The liquidity will move into deficit after advance tax payments and GST outflows. It will rebound in October because of government spending.
'As on August 25, 94,753 Govindas have been insured.' 'This number is expected to rise further, as proposals for 5,000 to 8,000 Govindas are received daily.'
'These people were your darlings, they were being dined and wined in the White House and now you say go to hell Pakistanis'
Electric two-wheeler (e2W) maker Ather Energy has submitted preliminary papers to the Securities and Exchange Board of India to raise funds through an initial public offering (IPO). According to the draft red herring prospectus (DRHP), the IPO will comprise a fresh issue of equity shares valued at Rs 3,100 crore, alongside an offer for sale of 22 million equity shares by its promoters and investor shareholders.
Indian companies are generating more cash than ever. The net cash flow from listed firms' operations hit a new high of Rs 11.1 trillion in financial year 2023-24 (FY24), crossing the Rs 10-trillion mark for the first time, according to the Centre for Monitoring Indian Economy (CMIE) data going back to 1990-91. The FY24 figure represents a 19.3 per cent jump over the previous year, even as quite a few companies are yet to release their numbers.
While SGBs are a sound investment, they aren't worth buying at any price. The interest income you earn from them will not justify paying a high premium.
The oil spill in the Gulf of Mexico and the Bhopal tragedy have brought back into focus the issue of industrial accidents, contractual liabilities and questions of operator liability, notes Manoj Kumar and Lydia Powell in an Observer Research Foundation study, which will be published in a three-part series. Here goes the first part:
In the second part of a three-part series, Manoj Kumar and Lydia Powell, in an Observer Research Foundation study, discuss at length the various loopholes in the Nuclear Liability Bill, whose amended version was recently passed by the Lok Sabha.
rediffGURU Samkit Maniar answers readers' personal income tax queries
In case the third party fraud is reported after a delay of four to seven working days, the customer will face liability of up to Rs 25,000.
'Filing a nil ITR serves as a formal declaration to the tax authorities that your earnings fell below the taxable threshold in the given financial year, and you had no tax liability during that period.'
'Modi is still immensely popular and, therefore, he can sustain any number of policy failures.' 'Modi himself has worn multiple faces so it would be naive to think that the Modi of 2021 will be the same Modi that will be campaigning for re-election in 2024.'
Form 16 contains details of salary income, deductions, and exemptions.
The government has finalised the much-awaited rules of implementation of the nuclear liability law, a move that could pave way for the expansion of the atomic power sector by procuring equipment from foreign suppliers. "A PMO committee has approved the rules of implementation of the civil nuclear liability law. We will notify the rules within a month," V Narayanasamy said. The Civil Liability for Nuclear Damage law was passed by Parliament last year.
A division bench of Justices Gautam Patel and Kamal Khata took suo motu cognizance of the tragic incident and initiated a public interest litigation on the issue.
'The impact of CBDC on deposits and deposit insurance is largely unknown.'
Finance Minister Nirmala Sitharman on Monday held a performance review meeting with heads of public sector banks and asked them to make concerted efforts to garner deposits. Deposits have been growing 300-400 basis points lower than the credit growth in the last few months, creating an asset-liability mismatch for banks. During deliberations on the deposit mobilisation, she said that while the credit growth has picked up, mobilisation of deposits could further be improved to fund the credit growth sustainably, and asked banks to make concerted efforts to garner deposits by conducting special drives.
'Why should we disclose classified information to satisfy those who doubt our Hydrogen Bomb capability?'
The Unified Pension System (UPS), approved by the Union Cabinet on Saturday, is "fiscally prudent" as it will be funded within the Centre's fiscal projections, according to T V Somanathan, the Cabinet Secretary-designate. Speaking to Business Standard immediately after the Cabinet nod, former finance secretary Somanathan, who headed the committee set up in March 2023 to review the National Pension System (NPS), said the UPS will not postpone pension expenditure as it will be contributory and financed each year.
The Dow Chemical Company, which owns Union Carbide Corporation, on Tuesday said the Indian government had "fully released" UCC and its subsidiary in Bhopal from any civil liability for the 1984 gas tragedy.
Pitching for enactment of a law to fix civil damages caused by nuclear accidents, Atomic Energy Commission Chairman Srikumar Banerjee said neither the Indian Environmental Protection Public Liability Insurance Act, 1991, nor the Indian Atomic Energy Act had provisions for damages caused due to war or radioactivity.
Both candidates have shifted from their traditional constituencies - Sadhotra from Marh and Sharma from Akhnoor - after these two segments were reserved for Scheduled Castes.
