'Should the government be in the business of running banks?' 'Particularly when it does not have the fiscal strength to continuously infuse capital into such banks?'
IndusInd Bank was the top laggard in the Sensex pack, cracking around 10 per cent, followed by HDFC, Maruti Suzuki, Axis Bank and UltraTech Cement. On the other hand, TCS, Infosys, ITC and HCL Tech closed with gains. NSE Nifty plunged 313.60 points or 3.43 per cent to 8,823.25.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
SBI data shows the per-capita payouts for scheme have shot up this year.
Prices of perishable items could spike in the near term.
Will Vijay will go the most successful MGR/Jayalalithaa way, or that of Vijayakanth, Seeman or Kamalahaasan, or will he end up as another Rajinikanth who cries wolf at the last minute and quits the scene even before it all had really begun, asks N Sathiya Moorthy.
According to the third batch of supplementary demands for grants tabled in the Lok Sabha, approval is being sought for gross additional expenditure of over Rs 1.58 lakh crore.
In August, RBI allowed 11 business houses to start a payments bank.
While many promises remain unrealised, power reforms and the creation of tens of millions of new bank accounts have helped Modi maintain his popularity
Enthused by higher than expected GDP numbers in the fourth quarter of 2022-23, Chief Economic Adviser (CEA) V Anantha Nageswaran on Wednesday said India's economic growth may exceed the initial estimate of 6.5 per cent in the current fiscal and the country can look for another year of solid economic performance.
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The anger against land acquisition is not only among landowners.
The Adani group has exited the financial services business by selling its entire 90 per cent stake in Adani Capital and Adani Housing to private equity (PE) firm Bain Capital for Rs 1,440 crore. The total valuation of the Adani financial services business stands at Rs 1,600 crore. Gaurav Gupta, managing director (MD) and chief executive officer (CEO) of the Adani firms will hold the rest of the stake.
'This time, triumph will belong to the brother who promises a brighter future, not the one who merely remembers his sisters during elections and then vanishes.'
These stocks offer the best combination of maximum 'buy' recommendations from brokerages and share price upside over the next 12 months.
Muhammad Yunus is the 66-year-old Bangladeshi behind the Grameen Movement micro-banking system.
'We still need a certain number of large public sector banks for financial inclusion and stability purposes.'
"For decades in our country, the meaning of the Budget was restricted to what announcements were made in whose name. The Budget was turned into an account of the vote bank," Modi said.
A rising number of Greeks in rural areas are swapping goods and services in cashless transactions.
The demand for gold is expected to take a hit if the price of the yellow metal - which has been hovering around Rs 60,000, a level never seen before - remains elevated. Due to a sharp increase in price in a very short time and the flow of smuggled gold continuing, gold price in Mumbai is quoted at around Rs 59,000 per 10 gram. Typically, overall demand in the January-March and July-September quarters is moderate-to-dull, which is the case in the ongoing period.
The amount of loans to small and marginal farmers that commercial banks, cooperatives and regional rural banks have been asked to waive is likely to be slightly over Rs 23,000 crore (Rs 230 billion), less than half that estimated by Finance Minister P Chidambaram in his Budget speech. The share of this due to commercial banks is probably around Rs 6,000 crore (Rs 60 billion) the total overdue from all farmers to commercial banks is around Rs 10,000 crore (Rs 100 billion).
CEOs have complained that high interest rates have blocked their investment decisions. At the same time, customers are also deferring their purchases for new consumer durables, cars, and homes.
The original intention of the 15-km restriction was to ensure timely service to customers, especially in the rural areas. But now, new generation private banks do not have an extensive branch network in semi-urban and rural areas.
'The global situation is not very good.'
The Department of Posts was one of the 11 entities to get the in-principle nod from the Reserve Bank of India in 2015 for setting up a payments bank.
Of the 66.56 million cards, co-operative banks have issued about 32.71 million cards. Regional rural banks have issued about 12 million cards while commercial banks about 25.5 million cards.
According to the report, the magnitude of internal migration is about two-and-a-half times that of international migration.
Retail inflation dipped marginally to 6.44 per cent in February, mainly on account of a slight easing in prices of food and fuel items though it remained above the Reserve Bank's comfort level of 6 per cent for the second month in a row. As per the government data released on Monday, the Consumer Price Index (CPI)-based inflation was at 6.52 per cent in January and 6.07 per cent in February 2022. The retail inflation rate for the food basket worked out to be 5.95 per cent in February, marginally lower than 6 per cent in January.
Most players will need to burn the midnight oil to meet the deadline for creating a bank as well as specific norms set by RBI.
'There's a huge need for advancements in current security incident logging and monitoring practices.'
Rajasthan is reeling under a huge financial burden with the state's debt having gone beyond Rs 5.59 lakh crores. Rajasthan has increased expenditure on education by 203.4 percent, by 105.4 percent on health, by 227.14 percent on housing. Its expenditure on social welfare schemes has increased by almost 2,475 per cent.
"The expectation is that the erratic monsoon may put pressure on inflation," RBI Deputy Governor K C Chakrabarty told reporters on the sidelines of a meeting of regional rural bank chiefs with Finance Minister Pranab Mukherjee.
World Bank economists have urged the Indian government to cut unproductive farm subsidies and utilize agriculture spending the most productive manner.
Bandhan has a strong presence in India's under-banked eastern and northeastern regions.
Radio frequency identification service by Bharti, SBI allows cashless buying.
The Reserve Bank of India may de-license or leave it to banks to open branches in rural and semi-urban centres, in a step towards liberalising its branch authorisation policy.
Demonstrators hold up signs during a protest over the freezing of deposits by some rural-based banks outside a People's Bank of China building in Zhengzhou, Henan province, China
Most farmers depend on rainwater for farming.
Key questions remain about the operational and financial viability of a completely paperless bank such as India Post, says Mayank Jain.
Many banks are contemplating to set up additional counters for withdrawal to meet the rush
India Post may be keen to apply for payment bank licence.
