Business
Nandan Nilekani again backs cryptocurrencies
NandanNilekani Aadhaar architect Nandan Nikelani has once again called for encouraging the use of cryptocurrencies as an asset class, to be bought and sold like a commodity amid reports of India relooking at regulating the market. “Just like you have some of your assets in gold or real estate,...
Old Rs 500 Note Can Get You Rs 10,000. Here’s How
If you are stuck with demonetised notes of Rs 500 and Rs 1,000, you may still be able to not only redeem them, but earn more than their face value. The demonetization announced on November 8, 2016, had put an end on the acceptance of Rs 500 and Rs...
Govt Eases Procedure for Import of Oxygen Cylinders, Tankers
The government on Wednesday further eased the process of registration and approval for importing oxygen cylinders and cryogenic tankers amid shortage of the life-saving gas due to a spike in Covid-19 cases in the country. The government has done away with the norm of physical inspection of global manufacturers...
RBI Says Monitoring 2nd Covid Wave Situation
IPA Webdesk Reserve Bank of India said Governor Shaktikanta Das as part of his unscheduled speech on Wednesday, said that the RBI is monitoring the situation very closely and added that localised containment measures is keeping demand buoyant as compared to last year. Thsi comes at a time when...
Petrol, Diesel Price Up Second Day in Row
IPA Webdesk Petrol and diesel prices were raised for the second day in a row on Wednesday as state-owned fuel retailers resumed daily rate revision after a more than two-week long hiatus during assembly elections in states like West Bengal. Petrol price was increased by 19 paise per litre...
Serum Institute to Invest 240 Million Pounds in UK
By IPA Web Team Vaccine maker the Serum Institute of India is set to invest in facilities in Britain and could even manufacture inoculations in the UK in future, Prime Minister Boris Johnson said Monday. Johnson’s Downing Street office said the £240 million ($334 million) project would include a...
IDBI Invites Application for Chief Data Officer and Other Posts; Salary up to Rs 60 lakh
The Industrial Development Bank of India (IDBI) has invited applications for Chief Data Officer, Deputy Chief Technology Officer, Chief Information Security Officer, and Head- Digital Banking posts from experienced candidates on a contractual basis. The interested and eligible candidates can apply for the same by visiting the official website...
Now You Can Apply for Aadhaar Cards that Fit Your Wallet. Here’s How
Aadhaar card, the most important identification documentin India, has undergone a change. It will now come in an entirely new form – smaller, portable and more durable. As per the new notification of the Unique Identification Authority of India (UIDAI), new Aadhaar cards will be reprinted as polyvinyl chloride...
IDBI Bank Back in Black in FY21 After 5 Years, Posts Profit of Rs 1,359 Crore
LIC-controlled IDBI Bank turned profitable in the fiscal ended in March 2021 after five years, posting a net profit of Rs 1,359 crore for the year. In 2019-20, the lender had posted a net loss of Rs 12,887 crore. IDBI Bank is back in black after five years, said...
Looking For a Guaranteed Regular Return After Retirement? Check this New Pension Plan
If you are looking to invest in a retirement fund for an assured regular return, you may consider this new Saral Pension Plan. The regulator has asked the insurers to offer a single premium, non-linked, non-participating immediate annuity plan, starting from April 1. The pension plan offers a guaranteed return that does...
Net Profit Rises 33% to Rs 1,682.4 Crore, NII Improves
Kotak Mahindra Bank reported a 33% year-on-year increase in standalone profit to Rs 1,682.4 crore in the quarter ended March 2021. The lender clocked 8% year-on-year rise in net interest income to Rs. 3,843 crore for the quarter. Net Interest Margin (NIM) for Q4FY21 was at 4.39%. Operating profit for...
CII Calls for Strongest National Steps, Curbs on Economic Activity
New Delhi: Industry body CII has urged the government to take “strongest” national steps including curtailing economic activity to contain the spike in COVID-19 cases in the country. CII President Uday Kotak has asked for highest-level response measures to address the rising wave of COVID-19 cases, as currently safeguarding...
Health Insurers to Settle Cashless Claims Within an Hour
In a bid to help thousands of COVID-19 patients amid second wave of the pandemic, the regulator has asked the insurance companies to settle health insurance claims within an hour. This move came after Delhi High Court in its April 28 order, had directed the regulator to advise “insurers...
Markets to Be Guided by COVID-19 pandemic, Macro Data, Earnings This Week: Analysts
Market movement this week will be influenced by updates on the COVID-19 front, macroeconomic data announcement, quarterly earnings and global trends, said analysts. They also added that state election results are unlikely to have any major impact on the markets and the major determining factor will be the rising...
YES Bank Rescue Happened in Nick of Time Before Pandemic Struck, Happy with Progress: CEO Prashant Kumar
Mumbai: YES Bank’s rescue act in early March 2020 happened in the nick of time ahead of the COVID-19 pandemic, and even a 15-day delay in it would have meant great difficulty for a lender about to close down, its new managing director and chief executive Prashant Kumar said....
RBI to Strengthen Risk-based Supervision of Banks, NBFCs
The Reserve Bank has decided to review and strengthen the Risk Based Supervision (RBS) of the banking sector with a view to enable financial sector players to address the emerging challenges. The RBI uses the RBS model, including both qualitative and quantitative elements, to supervise banks, urban cooperatives banks,...
Govt Waves Late Fee for GSTR-3B, Tax Return Dates Extended Due to COVID-19
Image used for representation. Taxpayers with a turnover of over Rs 5 crore have been given 15 days extra time to file monthly summary return GSTR-3B and pay taxes without paying any late fees. PTI Last Updated:May 02, 2021, 11:36 IST FOLLOW US ON: The government has waived late...
RBI Gets its Fourth Deputy Governor: T Rabi Sankar
Reserve Bank of India. Image: Shutterstock RBI’s new deputy governor Rabi Sankar’s portfolio may include fintech, information technology, payments system and risk monitoring The Centre on Saturday appointed Reserve Bank of India (RBI) executive director T Rabi Sankar as the fourth deputy governor of the central bank. “The Appointments Committee...
