'As long as Sebi maintains transparency and market stability, the Jane Street episode is unlikely to deter long-term foreign capital.'
Private and public defence players can bid to participate in the stealth fighter development programme independently, as a joint venture, or as consortia.
Any industrial policy is only as good as how it is applied and the other reforms that support it. This was as true 40 years ago as it is now, points out Debashis Basu.
The bank made a Rs 67 crore net profit, up 21% from the previous year. Its deposits grew 8%, the loan book 10%. Net bad loans dropped from 7.53% to 6.07%. So why was the banker, who headed the bank, not promoted?
'This will be our first large-size bank partner, and hence, the partnership will be a game-changer for us.'
Banks have been borrowing heavily from the Tri-Party Repo (TREPS) market and deploying those funds into the Standing Deposit Facility (SDF) of the Reserve Bank of India (RBI), which is offering higher interest rate than the former, leading to increased volumes in the SDF window. The weighted average TREPS rate was trading at 5.66 per cent on Monday, 9 basis points lower than the SDF rate which currently stands at 5.75 per cent.
Defence expenditure was pegged at 1.4 per cent of GDP in the Budget for 2025-26 but it may widen, depending on tensions between India and Pakistan.
'An HAL-private sector tieup is a possibility.'
Finance Minister Nirmala Sitharaman on Wednesday said she has requested banks to work with all state governments to push the 'one district, one product' agenda. Banks have also been requested to have interaction with export promotion agencies, chambers of commerce and industry to understand and address the requirement of exporters on a timely manner, Sitharaman said while addressing the media in Mumbai on Wednesday.
Despite facing financial constraints, Kerala has been able to invest in welfare schemes and targeted programmes.
Defence Minister Rajnath Singh has approved the "execution model" for the indigenous development of a fifth-generation deep penetration advanced medium combat aircraft (AMCA) for the Indian Air Force. The Aeronautical Development Agency (ADA) will execute the programme through industry partnership, with equal opportunities for both private and public sectors. The project is a major step towards "Aatmanirbharta" (self-reliance) in the aerospace sector and is expected to cost around Rs 15,000 crore.
Google Pay, PhonePe, and Paytm may deliberately delay transactions, issue fraud alerts, and require an extra layer of user confirmation before processing any transactions that are likely to be classified as fraudulent.
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
Vice President V V Giri's resignation in 1969 triggered political upheavals that saw the ruling party defy its own presidential nominee, the expulsion of a sitting prime minister by her party president, and a historic split in the Indian National Congress, recounts Utkarsh Mishra.
The Securities and Exchange Board of India (Sebi) on Wednesday announced a slew of measures to ease the compliance burden in the stock markets ecosystem, encourage more companies to list on the bourses after reverse flipping to India, and facilitate greater foreign fund flows into government bonds.
India is planning to amend the Mines and Minerals (Development and Regulation) Amendment Act 2023 to specify the use of funds currently earmarked at 5,600 crore for exploring critical mineral mines overseas, according to a top official. The proposed amendments also aim to introduce a tailings policy and modify the royalty structure to facilitate the extraction of critical minerals from waste materials, the official added.
In 2023-2024, 95 scheduled commercial banks received over 10 million complaints from their customers. The process of KYC at many banks has become 'HYC' -- harass your customer, points out Tamal Bandyopadhyay.
Increasing cooperation in critical minerals will top Prime Minister Modi's agenda during his discussions with leaders of Ghana, Argentinia, Brazil and Namibia.
Public sector banks' cumulative profit crossed the Rs 1 lakh crore-mark in the financial year ended March 2023, with market leader State Bank of India (SBI) accounting for nearly half of the total earnings. From posting a total net loss of Rs 85,390 crore in 2017-18, the Public Sector Banks (PSBs) have come a long way as their profit touched Rs 1,04,649 crore in 2022-23, according to an analysis of their financial results. These 12 PSBs witnessed 57 per cent increase in total profit compared to Rs 66,539.98 crore earned in 2021-22.
An accused is discharged at the stage of charge-framing when the judiciary is persuaded that the prosecution's claims do not contain adequate prima facie evidence to suggest criminal conduct.
The Congress party in India has accused the government of "impropriety" in the sudden termination of KV Subramanian's position as India's executive director at the IMF, alleging it was linked to the Union Bank of India's purchase of two lakh copies of his book. The party also questioned the government's stance on Pakistan's request for a loan from the IMF.
'40 percent of voters in Bihar will be excluded.'
Pakistan on Tuesday increased its defence budget by 20 per cent, allocating PRs. 2,550 billion ($9 billion) for the fiscal year 2025-26, amid tensions with India.
'Self-declaration from the customer in case of no change in KYC information or change only in the address details may be obtained.'
Banks have tightened their cyber security network to ward off any cyber threat in the wake of India launching missile attacks on Pakistan and Pakistan-occupied Kashmir. Banks have also improved their security at the branches near border areas due to heightened threat of a counter attack.
At a time when the finance ministry is focusing on addressing employee grievances, the number of employees in most public-sector banks (PSBs) has declined over the last three financial years.
Operations of public sector banks (PSBs) may be impacted as bank union AIBEA has given a strike call for Saturday to oppose incessant outsourcing of jobs. Although the officers are not part of the strike, there may be some impact on cash deposit and withdrawal, clearing of cheques etc. Several banks, including Bank of Baroda and Punjab & Sind Bank, have already informed their customers about the potential impact on services if November 19 strike materalises.
'The universe of PSU stocks is huge and diverse.' 'Investors should bet on specific sectors and stocks from the basket as most of them may continue to consolidate after years of outperformance.'
The United Forum of Bank Unions (UFBU) on Thursday said its two-day nationwide strike on March 24 and 25 will be observed as scheduled since discussions with the Indian Banks' Association (IBA) over key demands failed to yield any positive outcome. In a meeting with the IBA, all UFBU constituents raised issues, including recruitment in all cadres and a five-day workweek.
The overall number of frauds, including those related to loan accounts and digital payments, jumped by three times in FY25, primarily due to reclassification of 122 cases as per a Supreme Court order, the Reserve Bank said on Thursday. The fraud value jumped to Rs 36,014 crore in FY25, up from Rs 12,230 crore in the previous fiscal year, while the number of fraud cases went down to 23,953 in FY25 from 36,060 in FY24.
Capital expenditure (capex) by 54 large central public sector enterprises (CPSEs) and five departmental arms with an annual capex target of Rs 100 crore and above has reached around 42.5 per cent of their annual target of about Rs 7.33 trillion in this financial year so far, a senior official from the Ministry of Finance told Business Standard. "The Centre is pushing the big public undertakings in the infrastructure and refinery sector to achieve 90 per cent of their target by the end of the third quarter," he said. The capex by this group of CPSEs stands at around Rs 3.1 trillion in the April-August period so far.
Dividends paid by central public-sector enterprises (CPSEs) in 2024-25 are set to be the highest ever, with the government receiving 69,873 crore so far. A government official said he was hopeful the receipts would touch 70,000 crore in the last week of the financial year.
'Make-in-India played a key role in India's effective action against terrorism during Operation Sindoor.'
rediffGURU Dr Ganesh Natarajan tells you how to upskill and upgrade yourself in order to future-proof your career.
After the merger of regional rural banks (RRBs) under the "One State, One RRB" policy to improve their efficiency and minimise competition among public-sector banks (PSBs) that sponsor them, the government is planning to list at least five RRBs by the end of financial year 2026-27 (FY27). After the latest amalgamation that came into effect on May 1, there are 28 RRBs in 26 states and two Union Territories (UTs), with more than 22,000 branches covering 700 districts.
Government sources said amendments were being considered to the Atomic Energy Act to allow private sector participation and the Civil Liability for Nuclear Damage Act to limit the liability on suppliers of equipment to build atomic energy plants.
'The approach today is, instead of giving loans to 100 MSMEs, let us give one loan to a big-ticket corporate.' 'And so many of these big fish deceived the banks and the banks are in the doldrums now with high NPAs.'
Bank employees want a five day work week.
Earlier this year, the Union Cabinet gave the management of state-run companies the freedom to decide on divesting their subsidiaries. However, the very next day a meeting was held at the top level of the Government of India, for the presentation of proposals for more autonomy for state-run companies. Interestingly, no chiefs of any of these companies were invited. It is a problem that will stare the government in the face with the state-owned banks too, as talks have again begun for inviting strategic investments in these companies.
'My job is to provide people with a bouquet of options they can choose from.'
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