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Paytm said there were no material observations from RBI and the move has no material impact on its business and revenues since the communication from the central bank is applicable only to onboarding of new online merchants.
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Chhattisgarh chief minister Bhupesh Baghel asked the Centre to release funds for implementing the old pension scheme for state government employees. He also demanded an increase in royalty for minerals extracted in the state and that different royalties be fixed on different grades of coal and iron ore. Tamil Nadu finance minister P Thiaga Rajan said states cutting across party lines said that centrally sponsored schemes are constraining states' fiscal autonomy since in some schemes states end up contributing large amounts which are more than the Centre's contribution.
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Banks are set to step up fund raising through bonds in next few weeks to take advantage of a recent fall in yields and meet capital requirements amid a pick-up in credit growth, analysts said.
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Financial independence is having enough savings, investments, and funds to be able to afford the life you want without any worry.
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A five-member Constitution bench comprising justices Abdul S Nazeer, BR Gavai, AS Bopanna, V Ramasubramanian and BV Nagarathna had on October 12 directed the Centre and RBI to file comprehensive affidavits. Defending the move, the Centre in its affidavit last week had told SC that demonetisation was a well-considered decision and part of a drive to eradicate black money.
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We all have several dreams and goals we wish to fulfil in our lives. Our financial decisions should be based on how and when we aim to achieve these goals.
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The draft IRDAI (Expenses of Management of Insurers Transacting General or Health Insurance Business) Regulations, 2022, has proposed the insertion of a single limit of 'Expenses of Management' and additional allowances towards the rural sector and government welfare-oriented schemes; also for expenses towards 'insurtech' and 'insurance awareness'.
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We hear about kids these days who come as brilliant examples of what we could have achieved at that age if we knew the idea of growing money! We sometimes even regret not having enough financial knowledge.
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The Indian capital markets regulator has made it unambiguously clear that funds have to close and liquidate within the specified period even if a predominant number of investors who have contributed to a fund pool give their consent to extend the tenure of the fund.
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Loan against Deposits is a loan in foreign currency against a deposit in India (including Rupee NRE FDs). The customers can avail LAD for their short-term cash requirement without having to prematurely close their term Deposits and thereby avoid paying a penalty for breaking the deposit. They can avail loans up to 95% of their deposit value.
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The authentication is processed using a new app from the Unique Identification Authority of India (UIDAI). As a result, the business correspondents at the banking points will only need a smartphone to open a bank account for customers.
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The appellate tribunal will hear the matter further on December 7. Before the appellate tribunal's order, the Mumbai bench of the National Company Law Tribunal (NCLT) had admitted the company under CIRP on November 11, and had appointed Ashutosh Agarwala as the interim resolution professional (IRP) of the company.
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The biggest jump in India's foreign exchange reserves in more than a year was prompted by the country's central bank buying up dollars and on account of revaluation, analysts said on Monday. India's foreign exchange reserves rose by $14.7 billion in the week through November 11 to $544.72, data released on Friday showed. It was the largest accretion to reserves since August last year.
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The Reserve Bank of India (RBI) on Monday allowed HDFC Bank Ltd and Canara Bank Ltd to open a special "vostro account" for trade in Rupees with Russia, according to media reports. Vostro accounts are accounts a bank holds on behalf of another, often foreign bank, and this forms a key part of correspondent banking.
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For the next two years, there should be more upside. Indeed, for most of the key credit measures one looks at for banks, things are on the up -- credit losses have normalised; NPAs are on the decline; higher interest rates are boosting net interest margins; and returns on average assets are recovering toward pre-pandemic levels.
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NPCI in November 2022 had proposed a 30 per cent volume cap for third-party app providers (TPAP) in a bid to avoid concentration risk.
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All major banks have increased their external benchmark-based lending rates (EBLRs) by 190 basis points in tandem with the hike in the Reserve Bank's policy repo rate since May this year, though they have been slow in raising the deposit rates. The Reserve Bank has hiked the key short-term lending rate (repo) by 190 basis points in four tranches since May to contain inflation.
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Reserve Bank of India Governor Shaktikanta Das said a synchronised tightening of monetary policy globally has progressively increased the risk of a hard landing, which is a recession to tame inflation. India, however, is differently placed.
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The governor’s statement comes at a time when the UK chancellor Jeremy Hunt has acknowledged that the country is in recession. In the US, corporates are on a massive layoff drive as fears of recession loom. The European Central Bank also said that a recession in the 19 countries that use the euro has become more likely.
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