Banks Companies Indian Subcontinent Industries Market Regulators

SEBI move to curb money laundering by foreign Investors delayed by Custodians

The Securities and Exchange Board of India (Sebi) has deferred the diktat requiring foreign investors to disclose their mobile number, email addresses and income details to depositories, a move believed to be aimed at curbing practices such as round tripping and money laundering.   “Based on the representations received from MIIs (market infrastructure institutions), Sebi Read More…

Banks Indian Subcontinent Regulators

Rs 13000 Crores Scam tainted fugitive caught red handed in Dominica with girlfriend

Fugitive businessman Mehul Choksi travelled to Dominica with his girlfriend and ended up in police custody, said Gaston Browne, the Prime Minister of Antigua and Barbuda.   In a major development, Antiguan Prime Minister (PM) Gaston Browne has confirmed that a private jet from India has arrived in the Caribbean nation of Dominica where fugitive Read More…

Banks BJP Indian Subcontinent Market Regulators

RBI transfer Rs 99,122 crore to Union government for period ending 31 march 2021

The Reserve Bank of India (RBI) will transfer Rs 99,122 crore to the Union  government for the nine-month accounting period ended March 31, the central bank has said.   The bank also decided to maintain the contingency risk buffer at 5.5 percent. The decisions were taken at the 589th meeting of the Central Board of Read More…

Banks Indian Subcontinent Jobs Market

Pursuit HSBC Barclays Citi bank also Exit retail business from Indian soil

Citigroup on  Thursday exploded bomb in financial market after it said that it was exiting its retail business in India and 12 other countries across Asia and parts of Europe, to focus on wealth management business, as it lacked the scale to compete in the retail space.   The decision to exit retail businesses from Read More…

Banks BJP DMK Indian Subcontinent Industries Jobs Market

India inflation reaches 5.03% mounts pressure to Modi government for Fuel tax cut

India’s retail inflation surged to a three-month high of 5.03 per cent in February, as against 4.06 per cent in the previous month, as petrol and diesel prices rose sharply.  While the consumer price index-based fuel and light inflation rate stood at 3.53 per cent in the month compared to 3.82 per cent in January.  Read More…

Banks Indian Subcontinent Protest Voice

Centre privatisation push Bank unions to call for total strike on March 15 and 16

The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, will go on a two-day strike on March 15 and 16, 2021, to protest against the proposed privatisation  state-owned banks.   As a result Industry sources confirmed Banks are scheduled to be closed on March 13, 2021 (second Saturday) and March 14, Read More…

Banks Industries Regulators

Reason behind TRAI suspension of norms for commercial text messages

TRAI suspends norms for commercial text messages for one week This comes after following disruptions in SMS and OTP deliveries for banking, payment, and other transactions Telecom regulator TRAI on Tuesday suspended the newly-implemented norms for commercial text messages for one week, following disruptions in SMS and OTP deliveries for banking, payment, and other transactions. Read More…

Banks Currency

Bitcoin cryptocurrency gained 20% in a week to reach $1 trillion cap

The world’s most popular cryptocurrency rose to a record $57,553, taking its weekly gain to around 20%. It has surged nearly 100% this year.   Bitcoin hit a fresh high on Saturday, extending a two-month rally that took its market capitalization above $1 trillion on Friday.   Bitcoin’s gains have been fueled by evidence it Read More…

Banks Indian Subcontinent

Indian retail investors can purchase Government Bonds directly : RBI

The Reserve Bank of India on Friday gave retail investors direct access to the government securities markets a move termed by Governor Shaktikanta Das as a “major structural reform”.   India, in fact, will be the third nation in the world after the United States and Brazil, where retail participants can take direct exposure on Read More…

Banks Life Style Regulators South India

Police officials book HDFC bank officals for kidnap and harassment charges

Chennai police have filed an FIR against Aditya Puri, former CEO and MD of HDFC Bank, in connection with a complaint from a Chennai resident, after he alleged that the high profile banker had threatened him through a video call regarding a dispute over repayment of loans he took from the bank.   The police Read More…