Payments banks are niche banks which will be allowed to function with several restrictions.
Amidst a storm over proposal to shut petrol pumps during night to taper fuel demand, Oil Minister M Veerappa Moily on Monday said the government had not made any such proposal and the idea had come from public.
Contrary to the bragging that marked its two-year anniversary, the government's timidity on reform is simply astounding.
The government shouldn't hide behind the veil of making a domestic giant out of the HPC-ONGC deal, rather it should just say it needs cash from this divestment exercise, says Sudhir Bisht.
Maruti Suzuki is set to steer its fourth brand into 2 million club. The numbers convey a sense of the contribution that WagonR makes to Maruti Suzuki.
India expects to remain unscathed this time, mainly because it is in a sweet spot as the world's third largest oil consumer, after the US and China, says Subhomoy Bhattacharjee.
Customs and excise duty rates have been amended mainly to promote Make in India.
Overall, the Survey warned that unless shifts in the vision of development were articulated and embraced, the Indian economy would lose the chance to move to a high-growth trajectory.
Corruption in the scheme may have nothing to do with fake children being shown to siphon out money, says Somasekhar Sundaresan.
One crucial revenue source that can help the government achieve its fiscal-deficit target is the proceeds from the sale of its stakes in public sector companies.
Kotak Mahindra Bank and Vedanta were the top Nifty gainers.
JSPL is under CBI lens for giving wrong information about its land, water supply and previous allocations to get coal block in Jan 2008.
'We have the more difficult reforms to do such as the reduction of subsidy, the insurance and pension sector reform, eliminating bureaucratic red tape and implementing Goods and Services Tax'
A 19-year-old Indian was killed as Nepal police opened fire on people demonstrating against the new Constitution near the Indo-Nepal border, hours after security forces baton-charged Madhesi protesters and evicted them from a key bridge in the area in a pre-dawn swoop.
'...because the party is based on the Constitution.'
Tampering with electrical fittings of a car, subjecting it to improper maintenance or making unwarranted changes to it are the primary reasons behind the spurt in cases of vehicle fires, which have claimed several lives in the recent past.
'You cannot judge a government within a month. Give us five years' time.' 'At times, strict economic decisions have to be made for the good of the poor in the long run.' Dharmendra Pradhan, one of the Modi government's stars, speaks exclusively to Sheela Bhatt/Rediff.com about why the government is forced to roll out 'bitter medicine.'
Oil Ministry felt it did not have a clear mandate to reduce rates post the January 2013 decision of the Cabinet to raise prices by 40-50 paisa a litre every month.
Worried about the adverse impact that price rise could cause to Congress' prospects in Lok Sabha polls, Rahul Gandhi unveiled quick fix policy prescriptions for 12 party-ruled states including reform in PDS and giving farmers a wider choice to sell vegetables and fruits.
That "Rollback Budget" ushered in an era of rollback.
The broader markets, however, outperformed their larger peers.
For the seven months since February 2014, the benchmark index surged nearly 27%.
But do not expect the finance minister to fulfil all these wishes
The benchmark BSE Sensex ended down 2.23 per cent. The Bank Nifty fell 3.59 per cent.
Enhanced revenue generation is a priority for the government.
Expectations were probably too high from Narendra Modi.
Markets will remain closed on Thursday, 12 November 2015 on account of Diwali Balipratipada.
Benchmark share indices ended at record closing highs, amid a volatile trading session on Monday, with IT majors leading the gains.
Budget could well determine if Achche Din will materialise
Like Indira Gandhi, even Narendra Modi seems to be relying on directing public-sector banks through ministry of finance supported by party cadres, says Debashis Basu.
Former chairman of the UIDAI Nandan Nilekani, elucidates how Aadhaar could become the spine for alternative banking and could replace government services with cash benefits.
China's economy is in transition, with rising wage costs and massive overcapacity.
Prime Minister Narendra Modi on range of issues -- from Rafale deal to Ram temple and triple talaq.
Prime Minister Narendra Modi, who recently completed one year in office, has, in an exclusive interview with Smita Prakash, editor, ANI, said the opposition alleging that his government is a "suit boot ki sarkar" is definitely better and more acceptable than being labelled a "suitcase" (ki sarkar), and satirically added, that after ruling for sixty years, the Congress has suddenly remembered the poor.
'Our intentions are clear. If I keep all the acquired land under the ownership of the government, why do you raise questions about my intentions?' 'One achievement of my ministry would be the gas pricing policy. Two, we made a delivery mechanism (for domestic LPG) which is the largest in the world. We are crediting money to the poor directly. It is the biggest structure of direct subsidy transfer.' 'It is very easy to work with Modi. He gives everyone a chance in decision-making. I have become a minister for the very first time, but if we want to raise any issues in the Cabinet, we have full freedom to do so.' The second and final part of Union Oil Minister Dharmendra Pradhan's exclusive interview with Sheela Bhatt/Rediff.com.
'The creation of Pakistan was integral to Britain's grand strategy.' 'If they were to ever leave India, Britain's military planners had made it clear that they needed to retain a foothold in the NWFP and Baluchistan because that would provide the means to retain control of Iran, Iraq, Kuwait, the UAE, Bahrain and Qatar.'
Bharatiya Janata Party leader Arun Jaitley faces a tough electoral battle in his maiden bid to enter Lok Sabha from Amritsar but is unfazed by his "reluctant" heavyweight opponent Capt Amarinder Singh as he claims the groundswell against Congress "adds to my confidence".
Oil Minister M Veerappa Moily has suggested pricking the ballooning oil bill with everything from a street theatre campaign encouraging lower fuel use, to shutting fuel stations, to increasing imports from Iran.
There was hope in some quarters that the interim Budget would boost sentiment and lay the groundwork for kick-starting the investment cycle, while staying on a path of fiscal consolidation.
Transport Minister Nitin Gadkari puts them out of the ambit of Motor Vehicles Act; experts say some regulation, licensing and driver training will be necessary
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