Speaking at the 11th SBI Banking & Economics Conclave, Sitharaman said that despite moderation in certain domestic economic indicators, there was no cause for concern.
Speaking at the annual business and economic conclave organised by SBI, the minister also asked banks to concentrate on their core function of giving loans.
Dovetailing artificial intelligence (AI) and machine learning (ML) tools progressively into core operations, India’s bank sector players are leveraging AI to improve customer experience, pare costs, manage risks and drive growth through chatbots such as ‘iPal’ and ‘ILA’.
Diwali 2024 Special: Making smart choices about how to use your festive bonus can help you improve your financial well-being and enjoy the festive season while progressing toward your financial goals.
This action is based on material supervisory concerns observed in the pricing policy of these companies in terms of their Weighted Average Lending Rate and the interest spread charged over their cost of funds, which are found to be excessive and not in adherence with the regulations
While some of these issues were likely discussed during the recent visit of Prime Minister Narendra Modi to Russia, emails seeking comment from RBI and SEBI on the current status did not elicit a response.
As far as public spending is concerned, Finance Minister Nirmala Sitharaman in the Budget proposed to raise the capital expenditure target by 11.1 per cent to record Rs 11.11 lakh crore for 2024-25.
As UPI transactions are growing, fintech industry players and banks have been pushing the government and regulators to permit a Merchant Discount Rate (MDR) on UPI transactions.
In an exchange filing, the company said, “the RBI's decision to lift restrictions is effective immediately and allows the company to resume sanctioning, disbursal, assignment, securitisation, and sale of gold loans in compliance with all relevant laws and regulations.”
Strategic investment planning at this stage should be aimed at reducing debt, increasing focus asset building, and maximising savings wherever possible. Let’s find out how you can go about doing that.
In terms of value of payment transactions, the market is expected to grow double, from Rs 265 trillion to Rs 593 trillion over the same period, the report said.
Last year in February, UPI, the country’s real-time retail payment system, and its equivalent network in Singapore, PayNow, were integrated for enabling faster remittances between the citizens of the two countries at a highly competitive rate.
Shares of ICICI Securities, which went public with an initial public offering (IPO) in April 2018, fell by 7.44 per cent to Rs 785.95 on the exchanges on Wednesday.
This follows TCL's merger with Tata Cleantech Capital and Tata Capital Financial Services. The change signifies Tata Capital's transformation into an operating company, paving the way for its potential listing. Previously, it functioned as a holding company under the CIC structure.
‘If India attacked, we will help’: Trump in PM Modi’s presence
India45 min ago
President Trump assured that the US would support India in case of an attack and praised their strong relationship. He also mentioned India's role in West Asia and praised PM Modi as a tough negotiator. Trump also expressed his personal admiration for Modi's looks and mentioned their upcoming visit to India.
