The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
'We plan to launch new initiatives, including cash flow-based lending, to ensure borrowers are not burdened and can access funds more quickly.'
In a recent operation, Bihar Police busted a fraudulent scheme operating under the guise of 'All India Pregnant Job Service', which deceived men with promises of substantial payments for impregnating childless women.
HDFC Bank, India's second largest private bank, has signed an agreement with Movida, a mobile payments joint venture backed by Visa and Monitise to introduce a first of its kind mobile payment service.
To educate customers on the modus operandi of financial fraudsters and share inputs on safe banking habits, banks are now coming up with awareness campaigns aimed at preventing customers from falling into the trap of fraudsters.
The government announced the decision apprehending spread of rumours through social media by anti-social elements ahead or during the rally called to be held on Monday.
The Central Equipment Identity Register (CEIR) of the department of telecommunications (DoT) has traced 285,000 lost or stolen mobile phones and blocked 680,000 devices since being launched. However, recoveries remain relatively low at 20,771 devices. According to government estimates, around 50,000 mobile phones are stolen every month in the country. Launched nationwide on May 16, the CEIR is a part of the DoT's Sanchar Saathi portal. It is the primary government platform aimed at protecting mobile phone users from various frauds such as identity theft, forged KYC, theft of mobile devices and banking frauds.
The average value of retail digital payments dropped 48 per cent from Rs 8,769 in March 2021 to Rs 4,560 in March 2024 due to a growing preference to use digital modes of transactions for small value payments, according to the Reserve Bank of India's (RBI) report on the trend and progress of banking in India.
Vodafone Idea, the promoter of Aditya Bira Idea Payments Bank, said in a notification to the exchanges late on Friday that the board of the bank approved winding up the business, subject to approval from the Reserve Bank of India.
Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the 'distance to default' as a measure of a particular bank's fragility, reveals Tamal Bandyopadhyay.
Besides Nuh, the services will remain snapped in Faridabad, Palwal and the territorial jurisdiction of sub-division Sohna, Pataudi and Manesar of Gurugram district.
The bank intends to roll out mobile biometric-access ATMs at Kakinada, Visakhapatnam and Tirupati during this financial year, with plans to launch 20 such ATMs across the country by 2010.
The customer needs to be in the proximity of 15 cm from the merchant terminal.
Seventeen persons, including four hailing from Taiwan, were arrested by Ahmedabad Cyber Crime Branch for allegedly operating a nationwide 'digital arrest' racket, a Gujarat police official said on Monday.
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
The most striking features of this Budget was its focus on simplification and improving the ease of doing business in India, asserts Kaku Nakhate.
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.
The Securities and Exchange Board of India (Sebi) on Thursday debarred Ketan Parekh, the stock market operator involved in the stock market scam of 2000, Singapore-based trader Rohit Salgaocar, and one other individual from the securities market for alleged front-running of trades of a United States (US)-based foreign portfolio investor (FPI). The FPI manages around $2.5 trillion worth of funds globally.
Private sector lender HDFC Bank on Thursday said the Reserve Bank of India (RBI) has asked it temporarily stop all launches of its upcoming digital business-generating activities and sourcing of new credit card customers after outage at its data centre which impacted operations last month.
Ranjani Srinivasan, a citizen and national of India, entered the United States on a F-1 student visa as a doctoral student in Urban Planning at Columbia University, the Department of Homeland Security said in a statement on Friday. It added that Srinivasan was "involved in activities supporting" Hamas, a terrorist organisation.
HDFC Bank has launched mobile banking service on SMS for Reliance IndiaMobile customers, which will enable customers to see their account balance, get mini statements, fixed deposit details and make requests for cheque books.
There is need for a continued pragmatic approach to foster the adoption of mobile banking services in India, says Probir Roy.
Reliance Communications Ltd's subsidiary Reliance Mobile World on Wednesday announced introduction of LPG gas booking service on mobile phones.
About 99,165 electric cars were sold in India in 2024, but electric car penetration -- share of electric car sales in total sales -- was just about 2.5 per cent.
Finance Minister (FM) Nirmala Sitharaman has presented a forward-looking Budget, reinforcing the government's commitment to 'Reform, Perform, and Transform'.
Two women, including a 27-year-old Israeli tourist, were allegedly gang-raped while stargazing on the banks of Sanapur Lake near Hampi, police said on Saturday.
MSIL, which currently has a subscription service that allows customers to lease its petrol-run and strong hybrid vehicles on a flexible, long-term basis without ownership commitments, will introduce a leasing service as well.
The ban was being imposed with investigations revealing that in most of the cases of bank robbery, the criminals used their cellular phones.
Canara Bank on Friday launched Internet and mobile banking services covering 300 select branches spread across six cities in the initial phase and said it is in talks with five or six banks for ATM sharing.
The first step you need to take is link your mobile number to Aadhaar.
UPI-related frauds have accounted for a cumulative loss of Rs 2,145 crore across 2.7 million reported incidents.
In April, RBI had to issue a warning about a mobile application.
The government on Saturday announced a host of measures such as setting up of a new Fund of Funds Scheme (FFS) with Rs 10,000 crore corpus; and extension of period of incorporation by five years with a view to promote growth of budding entrepreneurs.
'Women' as a political constituency appears to be an idea that has come of age. It is changing India in ways that we only dimly understand, asserts Aditi Phadnis.
Currently, banks are closed every second and fourth Saturday of a month. Why shouldn't they be shut every Saturday? When most customers carry their banks in their pocket (the app on the mobile phone), there is no need to keep banks open on Saturdays, argues Tamal Bandyopadhyay.
HDFC Bank customers will be able to do 11 transactions on their Apple device using the `watchbanking' service.
New SMS-based service to be offered in association with India Post.
Maharashtra, Karnataka and Delhi are emerging as major hubs for employable talent.
Hyundai Motor India Limited's (HMIL's) record Rs 27,870 crore initial public offering (IPO) may not have set the primary market alight with sky-high subscription levels, but it has spelled a windfall for the five investment banks steering the share sale. The Indian arm of the South Korean carmaker paid Rs 493 crore - 1.77 per cent of the issue size - in fees and commissions to the book running lead managers (BRLMs), marking the largest-ever payout for an IPO in the country.
Digibank will offer only savings deposits initially, but will expand to include investments and lending in the coming months.
