The platform will facilitate the real-time settlement of dollar-denominated trades in the GIFT City. Currently, settlement of US dollar-denominated trades takes a few hours.
In the open house, to be held between 10-10:30 am on all working days, employees can interact with the Governor without any prior appointment, according to an internal circular issued to the staff.
The new requirements for FAT pose significant hurdles for staffing companies managing large, dynamic workforces, the ISF said in a letter to the EPFO chief
“Major economies showed signs of slowing down, with global GDP growth at 3.3 per cent for year 2024. The geopolitical tensions in several parts of the world continue to affect global supply chains and commodity prices,” Chakraborty said.
Data provided by the finance ministry to the Rajya Sabha in July showed that the number of employees at PSBs had declined by 4% in the last five years: from 7.9 lakh in 2020-21 to 7.58 lakh in 2024-25
These trends signal both short-term and long-term stress in the unsecured credit market, especially as consumers lean heavily on plastic for everyday and discretionary spending.
The savings deposit rates of some PSBs are prevailing at a historical low, since their deregulation in 2011, the ‘State of Economy’ article published in the RBI’s July bulletin said.
PSB Loan Write Off India: Public sector banks (PSBs) have written off loans worth Rs 12.08 lakh crore since FY16. In a written reply to Rajya Sabha on July 22, MoS for Finance Pankaj Chaudhary said that such write-off does not result in waiver of liabilities of borrowers and therefore, it does not benefit the borrower.
The RBI said its supervisory reviews have indicated divergent practices amongst regulated entities with regard to levy of pre-payment charges in case of loans sanctioned to MSEs which lead to customer grievances and disputes.
According to a letter issued by Saswata Mishra, Principal Secretary of the Finance Department, Odisha government, the decision was driven by the banks' "consistently poor performance" in key flagship schemes over the past two financial years, along with "generally unsatisfactory banking parameters".
The Trust had last week called for the suspension and prosecution of HDFC Bank MD and CEO Sashidhar Jagdishan, accusing him of involvement in a series of financial frauds concerning the Trust.
Student remittances had peaked at $4.98 billion in FY2019-20, just before the pandemic, when Indian students were flocking to foreign universities in large numbers.
The central board of the RBI is likely to meet on May 23 to determine the dividend amount to be transferred to the government for FY25, in line with the revised Economic Capital Framework.
"Considering that employees had knowledge of incorrect accounting and/or its impact but traded in shares of IBL during the period may also require a determination from an insider trading perspective," it said.
Iran mission uses donations to buy 40 tonnes of medicine, unable to send them home
India16 min ago
A 40-tonne shipment of medicines bought by the Iranian embassy in India is stranded in New Delhi due to a damaged aircraft. The embassy is seeking alternative ways to deliver the urgently needed medicines, as pharmaceutical companies in Iran are under attack.
