Having successfully executed the merger with parent HDFC, HDFC Bank's managing director and chief executive Sashidhar Jagdishan on Saturday said the country's largest lender aims to double every four years. In a letter to the over 4,000 employees from HDFC who joined the bank's rolls on Saturday, Jagdishan said the future is bright, and the work on realising the potential of the merger starts now. "The runway for financial services and mortgage, which are so underserved and under penetrated, is going to be very large. HDFC Bank - the combined entity - with a large and growing distribution and customer franchise, more than adequate capital, healthy asset quality and profitability, will be best positioned to capture growth.
Prime Minister Modi also made a veiled reference to China, saying the global order is based on the respect for the principles of the UN Charter, peaceful resolution of disputes, and respect for sovereignty and territorial integrity.
India's growth projection released by the latest World Economic Outlook remains unchanged from its previous WEO (World Economic Outlook) update of July this summer but is a three-percentage point in 2021 and 1.6 percentage point drop from its April projections. According to the latest WEO update, released ahead of the annual meeting of the IMF and the World Bank, the world is expected to grow at 5.9 per cent in 2021 and 4.9 per cent in 2022.
'What's on offer for India is to establish a production line here that would be the world's only production line.'
Despite the demonetisation of 2016 and the rise in digital transactions that followed, the economy's dependence on cash has remained as high as ever. So when the Reserve Bank of India (RBI) introduced a pilot project of its version of digital cash - called the central bank digital currency (CBDC) - on December 1, many questions were asked. Can the CBDC replace physical cash, even partially? Can it match cash in terms of convenience? Are CBDC transactions truly anonymous?
In a bid to derive benefits of trade and technology transfer, the government on Tuesday decided to ratify two amendments to the Montreal Protocol on protecting the ozone layer from depletion.
F-16 will be there, (Swedish) Grippen, Mirage 2000 and MiG 29 will be there.
Prime Minister Narendra Modi announced a $1 million ad-hoc grant for the operational budget for the BIMSTEC secretariat and another $3 million assistance to revive the grouping's centre for weather and climate.
These new coaches are being built at the Rail Coach Factory in Kapurthala under a technology transfer agreement with Alstom-LHB of Germany.
Grover had said a summons was issued by the special court in Ghaziabad against Ayyub for January 27 and therefore the matter be listed urgently.
Citing news reports, Ramesh said they have "exposed" in considerable detail how the process was manipulated to help the Adanis.
German tyre company Continental is likely to pick up around 30 per cent stake in India's unlisted Metro Tyres Ltd with which it currently has a technology transfer and tyre and tube sourcing arrangement.
The Supreme Court on Tuesday agreed to hear the petition of journalist Rana Ayyub challenging the summons issued to her by a special Prevention of Money Laundering Act (PMLA) court in Ghaziabad in a money laundering case lodged against her by the Enforcement Directorate (ED).
'If India has to emerge as the world's laboratory and a global innovation hub, the minds of our youngsters must get an opportunity to flourish.'
Transiting from "survival mode", which took most of the management time in FY21, the bank has been able to take a long-term view in terms of growth and preparing technology in the past 12 months.
Here's the full text of address to the nation by President Droupadi Murmu on the eve of the Republic Day 2023.
The competent authority under the Foreign Exchange Management Act (FEMA) has approved an order of seizure of over Rs 5,551 crore worth of deposits of Chinese mobile phone manufacturer Xiaomi -- the highest amount frozen till date in India -- the ED said Friday. The agency charged the popular Chinese phone maker with remitting foreign currency equivalent to Rs 5,551.27 crore to three entities -- one Xiaomi Group company and two US-based unrelated entities -- in the guise of royalty. The Enforcement Directorate (ED) had first issued the order of seizure of these bank deposits on April 29 under the FEMA and later sent it for approval of the competent authority, as required under the law that regulates foreign exchange violations in the country.
Four years after it broke many hearts, Indian Space Research Organisation's Chandrayaan is all set to soar towards the moon in its third expedition on Friday in an attempt to put the country in an elite club of nations that accomplished lunar missions with a soft landing.
'I have personally been very keen on investing in lithium ion battery technology for some time.'
The Government of National Capital Territory of Delhi (Amendment) Bill, 2023, which will replace an ordinance promulgated for handling the transfers and postings of senior officers in the city government, was passed in the Lok Sabha on Thursday amid a walkout by opposition parties.
'We expect the new government to look into the issue of penalties imposed on technology firms involved in UID related projects.'
Bimola Thounaojam, the mother of an 18-year-old youth, has been trying frantically trying to work out how to get her son admitted to a college outside Manipur without having to go through the usual net-based admission procedure.
The US president alleged that China had been indulging in tremendous intellectual property theft worth hundreds of billions of dollars on a yearly basis.
A whopping Rs 62,476 crore has been "illegally" transferred by smartphone maker Vivo to China in order to avoid payment of taxes in India, the Enforcement Directorate said Thursday, as it claimed to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies. This money is almost half of Vivo's turnover of Rs 1,25,185 crore, it said without stating the time period of the transaction. The crackdown on the leading Chinese company came after the federal probe agency found that three Chinese nationals, all of whom "left" India during 2018-21, and one other person from that country incorporated as many as 23 companies in India in which they were also helped by a Chartered Accountant, Nitin Garg.
Russian Helicopters has scored another billion dollar home run by winning the Indian Navy's tender for 111 'naval utility helicopters'.
'Its efficacy is 97.6 per cent.'
Clarifies 'profit-split' will not be only method to compute tax
'Maybe the State wants to be watching people all the time. But when they are watching, others too may be watching!' 'The State is becoming more and more secretive while throwing people to the wolves.'
Begin by creating a household budget. Involve all family members in the exercise and cut costs wherever possible.
The Congress on Sunday kept up its attack on the Narendra Modi government over the Rafale deal with France and questioned why the state-owned Hindustan Aeronautics Limited was kept out of the agreement for the purchase of the fighter jets.
Edtech major Byju's on Tuesday said it has filed a complaint in the New York Supreme Court to challenge acceleration of the $1.2 billion Term Loan B (TLB). The company is also seeking the disqualification of Redwood, who contrary to the terms of TLB, purchased a significant portion of the loan while primarily trading in distressed debt. "Byju's has had to take these measures following a series of predatory tactics by the lenders, led by Redwood," the company said in a statement.
With the IAF having rejected variants of 4 of the contending aircraft -- the Super Hornet, F-16, Gripen C/D and MiG-35 -- in flight trials carried out between 2009-2011 in the MMRCA tender, are the current contenders improved enough to pass flight trials conducted to the same standards?
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