The branch managers have come out of their glass cabins and the sellers' market has transformed into a buyers' market, but there is no end to the harassment of customers, asserts Tamal Bandyopadhyay.
When an NRI returns to India, he should be aware of his tax residency status.
'Tenants who pay rent above the threshold limit must be extra cautious about TDS fillings.'
The Securities and Exchange Board of India's (Sebi's) technical advisory committee has been mandated to probe the trading halt at National Stock Exchange (NSE) and fix accountability. The committee after a detailed examination would send its findings and recommendations to whole-time member Madbhi Puri Buch, to decide the future course of action, said two people in the know. The panel, which is currently chaired by Ashok Jhunjhunwala of IIT Madras, is learnt to have sought an explanation over two key issues from NSE: One on the effectiveness of interoperability as it was unable to migrate the trading positions; the other on laxity in switching it to the disaster recovery site.
Former RBI deputy governor R Gandhi on Tuesday made a case for treating and regulating crypto as a separate asset class with a view to enabling governments around the world to effectively deal with illegal activities associated with virtual currencies. After quite a lot of debate over the years, he said, people have fully understood that crypto cannot be a currency because the fundamental element of a currency- that it should be a legal tender- is missing in this case. He said that in this case, one cannot compel a crypto currency to be accepted by another person as it is not a legal tender.
Isn't it time to review the 'fit and proper' criteria for banking licence, particularly with reference to individuals applying for it, asks Tamal Bandyopadhyay?
Britain's third female prime Minister, Liz Truss, was out of office on Thursday after the shortest tenure at 10 Downing Street in London and without a cherished India-UK free trade agreement (FTA) under her belt as a Brexit prize.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
There will be no second term for President Kovind and no elevation for Vice President Naidu.
In all this, the political establishment -- and especially the finance ministry -- appears the weakest link, and worse still, the possible reason for the political backing to Narain and Ramkrishna that emboldened them to defy all the sentinels -- the independent board, the auditors, top management persons like the chief compliance officer, the company secretary, and unbelievably the super-regulator Sebi, observes V Ranganathan.
'In North India, brother kills brother for a small piece of land. So if the perception goes that the government has come to snatch away land, then the issue can go to any extent.'
Former chancellor Rishi Sunak convincingly won over an audience of Conservative Party members in a head-to-head television debate with rival Foreign Secretary Liz Truss in the leadership contest to elect a new Tory party leader and British prime minister.
Private equity (PE) is set to play a bigger role in banks. Of 21 recommendations accepted by the Reserve Bank of India (RBI) out of 31 made by its Internal Working Group (IWG), its stance on non-promoter holdings in private banks is seen with excitement, though it doesn't refer to PEs explicitly. On non-promoter holdings in these banks, the RBI said this will be capped at 10 per cent of the paid-up voting equity share capital in the case "of natural persons and non-financial institutions and entities"; and "at 15 per cent for all categories of financial institutions, entities, supranational institutions, public sector undertaking, or the government." While this is a modification of the IWG's stance for the non-promoter holding in banks at up to 15 per cent, it does open up a huge window for PEs, all the same. This is because, while the RBI has remained silent on the eligibility of industrial houses for bank licences, fresh high-quality capital in large amounts can only come from PEs.
'When money has taken up almost all your space in the relationship, it is time to act,' advises marriage coach Leena Paranjpe.
The new wing will be known as the corporate finance investigation department, which will be headed by one of Sebi's executive directors. This department will have information technology solutions experts, particularly to detect the menace of frauds.
All we want from the government is to give us visa and they can't even deliver that, says Inder Singh, chairman of Global Organisation of People of Indian Origin International
In a statement, Modi said he will be visiting Berlin on May 2 at the invitation of German Chancellor Olaf Scholz, following which he will travel to Copenhagen on May 3-4 at the invitation of his Danish counterpart Mette Frederiksen to hold bilateral engagements and also participate in the Second India-Nordic Summit.
These meetings with Pawar has fuelled speculations about the possibility of opposition parties coming together to form a third front against the Bharatiya Janata Party.
'It is building the country's infrastructure, and delivering it very efficiently.'
Earlier last month, for the first time ever, an anonymous hacker was served with a restraining order as a non-fungible token (NFT), reports Shivani Shinde.
The forthcoming budget is an excellent opportunity for the Government to fulfill its promise of high economic growth.
Setting aside Sebi's direction, the Securities Appellate Tribunal (SAT) on Monday allowed PNB Housing Finance to go ahead with the shareholders' meeting on Tuesday to consider the proposed Rs 4,000 crore-investment by private equity firm Carlyle and others in the mortgage firm. However, results of the shareholders' voting will not be disclosed till further directions from the tribunal. The ruling comes hours after PNB Housing Finance informed stock exchanges that it has appealed against Sebi's direction on June 18 wherein it was asked to defer consideration of the proposed capital infusion proposal till a valuation of the company's shares is done by a registered independent valuer.
The annual earnings of a non-executive chairman of a PSB is capped at Rs 10 lakh, inclusive of fees for attending board meetings. This is way below the compensation of the chairman of any private bank, reveals Tamal Bandyopadhyay.
If someone does reduce his contribution, he should scale it back to the 12% level as soon as he can, suggests Sanjay Kumar Singh.
As lobbying and counter-lobbying intensify, right now, it looks like a T20 match, discovers Tamal Bandyopadhyay.
Nirmala Sitharaman is proving to be a better finance minister than her initial rookie status might have led people to expect, observes T N Ninan.
His likable boy-next-door face and casual approach to public speaking have a unique appeal for the younger generation, but it stops there, observes N Sathiya Moorthy.
BharatPe co-founder and managing director Ashneer Grover, who was recently embroiled in a controversy over purportedly using abusive language against Kotak Mahindra Bank staff, has taken a voluntary leave till March-end. Grover informed the company's Board about his decision to proceed on leave earlier in the day, as per a statement issued by the fintech company on Wednesday. "For now, the Board has accepted Ashneer's decision which we agree is in the best interests of the company, our employees and investors, and the millions of merchants we support each day," it said. It added that the company will continue to be led by its CEO Suhail Sameer and its management team.
The Supreme Court on Wednesday directed the National Disaster Management Authority (NDMA) to issue fresh guidelines for providing minimum standards of financial help to families of those who lost their lives to COVID-19.
'Banking is a business of trust.'
Solicitor General Tushar Mehta, appearing for the Centre, assured the court that everything is under consideration.
'Karenge aur kaam, sir. Zindagi bahut choti hai, ideas bahut sare hain.'
Markets regulator Sebi on Tuesday proposed to rationalise the definition of 'promoter group' and move to the concept of 'person in control' as well as reduce the minimum lock-in periods for promoters' and other shareholders post an IPO. In a consultation paper, the watchdog has also suggested streamlining the disclosures requirement of group companies. The Securities and Exchange Board of India (Sebi) has sough comments from public on the proposals till June 10.
Following the money and freezing anything unaccounted is the only way to set an example for others, suggests Debashis Basu.
If the CBDCs don't offer interest, why will people shift from cash to CBDCs?, asks Tamal Bandyopadhyay.
Indrani was spiritedly telegraphing details of the jewellery from the back of the court...
The ruling Bharatiya Janata Party in Karnataka had the last laugh as it won all the three Rajya Sabha seats it had contested in, out of total of four from the state that went for polls on Friday, while the Congress managed to win only one of the two seats to which it had fielded its candidates.
'A fragile Sri Lanka will have a serious impact on the security of India.'
With a potential liability of Rs 750-800 crore, sources say Clix Capital's stand on the matter would be crucial in finalising the merger valuation.
The former minister said even days before the Centre issued guidelines and protocols in identifying and containing the disease, the state commenced its preparations to fight the possible outbreak of the disease.
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