MUMBAI: A penalty of Rs 91 lakh has been imposed on HDFC Bank for violating certain provisions of the Banking Regulation Act, RBI said on Friday. The penalty has been imposed on the private sector lender for deficiencies in statutory and regulatory compliance, including those related to Know Your Customer (KYC). RBI said a statutory…
NEW DELHI: The Indian economy is expected to grow at 7% or higher during the current financial year and top the $4 trillion-mark, chief economic adviser V Anantha Nageswaran said on Friday.The growth estimates are higher than the 6.3-6.8% projected in the Economic Survey tabled in Parliament ahead of the Budget.“The first half of the…
MUMBAI: Almost twelve- -and-a-half years after Indian securities markets had plunged into a major payment crisis, curtains are coming down on the National Spot Exchange (NSEL) fiasco. On Friday, NCLT Mumbai allowed a Rs 1,950-crore settlement scheme between NSEL along with its promoter 63 Moons, and the traders who had dues aggregating nearly Rs 4,300…
NEW DELHI: India on Friday sealed a Rs 7,995 crore deal with the US as part of a “follow-on support” package for the Navy’s fleet of 24 Seahawk helicopters for five years. The signing of the contract comes amid a strain in ties after US President Donald Trump slapped 50% tariffs on Indian goods in…
MUMBAI: The directors of Tata Sons met Friday, over two months after ex-bureaucrat Vijay Singh resigned from the board. The meeting, chaired by N Chandrasekaran, discussed and considered routine corporate matters related to the company and its affiliated entities, said people aware of the matter. Apart from Chandrasekaran, the board consists of five members, including…
MUMBAI: Microfinance must now shift from basic access to delivering long-term income stability for borrowers and a clear pathway to formal credit, the RBI said. The central bank has warned that the sector’s recent regulatory freedom can become a liability if lenders do not uphold responsible conduct.Speaking at a microfinance industry network event during the…
KuCoin EU obtained a Markets in Crypto Assets (MiCA) regulation license in Austria, allowing it to offer regulated services across the EEA. Source link
NEW DELHI: India is hopeful of reaching a framework trade deal with the US this year that should address the tariff issue to the benefit of Indian exporters, commerce secretary Rajesh Agrawal said here Friday. While a bilateral trade agreement (BTA) will take time, a framework trade deal will address the reciprocal tariff challenge faced…
MUMBAI: SoftBank-backed e-commerce startup Meesho will focus on making online shopping affordable for more consumers and build the value segment of the market where the opportunity is large rather than going after the quick delivery space, said Vidit Aatrey, co-founder and CEO at the company which is set to get listed on the bourses next…
NEW DELHI: The parliamentary committee scrutinising the constitutional amendment bill that proposes simultaneous Lok Sabha and assembly elections will seek an extension in its tenure from Parliament as it needs more time to gather views of different stakeholders, including national and regional political parties, the panel’s chairperson P P Chaudhary said on Friday.Its current tenure…
