Page 26 - Harsh Kumar

Uncertainty in garment sector amid Bangladesh crisis, normalcy soon: FM

FM Sitharaman addresses concerns over garment sector investments in Bangladesh and urges banks to boost deposit mobilisation amidst rising economic challenges

Banking laws Bill extends tenure of cooperative banks' directors to 10 yrs

Changes to banking laws have a consumer tilt; no proposal that would allow change in ownership pattern of PSBs

Mushrooming mule accounts fuel rise in financial frauds, says official

This represents a more than 10 fold increase over the four year period, underscoring the growing sophistication of fraudsters and exposing vulnerabilities within the financial system

Help PSBs create credit assessment model for MSMEs: DFS secy to fintechs

Joshi also emphasized that fintechs need to strike a balance between regulatory requirements and innovation while working to resolve challenges faced by banks

FM Nirmala Sitharaman, PSB chiefs likely to talk NPAs and cybersecurity

Finance Minister Nirmala Sitharaman will hold the review meet on August 19

Rashtriya Ispat Nigam stake sale plan likely to pick up pace this year

The Centre holds 100% in Visakhapatnam steel plant. RINL is the parent company of Eastern Investments Ltd (EIL), owning 51% in it

Centre unlikely to extend Mahila Samman Savings Certificate scheme

Inflows into small savings schemes may level off

J&K govt gets Rs 7,900 crore from centre to clear dues with J&K Bank

The official said the money will be used by the J&K government to cover dues for pensions, salary payments, and other expenses of J&K Bank

Govt extends minimum public shareholding deadline for PSUs till Aug 2026

Public sector banks, financial institutions too must increase their public shareholding to at least 25%

Govt to decide on sovereign gold bond scheme continuation in September

Recently, SGB investors have expressed concerns due to market fluctuations and the government's decision to lower the customs duty on gold which may result in reduced returns on their investments

IDBI Bank potential bidders likely to get data room access next week

This will allow interested bidders to obtain detailed financial information about the bank to carry out due diligence

WazirX dials FIU-IND, FBI to recover funds lost to $230 million heist

WazirX lost about 45 per cent of its crypto assets to the security breach. People privy to the discussions say North Korea has been mentioned

FM Nirmala Sitharaman to review RRBs' performance after Budget session

The RRBs were established in 1975 under the provisions of the Ordinance promulgated on September 26, 1975, and the Regional Rural Banks Act, 1976

MSMEs' 180-day repay period demand genuine: PNB MD & CEO Atul K Goel

Goel discussed the public sector lender's latest quarterly results and its expansion plans

PNB Q1FY25 results: Net profit jumps 159% to Rs 3,252 cr, NII up 10.23%

PNB Q1FY25 results: Gross Non-Performing Asset (GNPA) ratio of the bank improved by 275 basis points (bps) on a Y-o-Y basis to 4.98 per cent as on June 24 from 7.73 per cent as on June 23

Financial bids for IDBI Bank by FY25-end: DIPAM Secy Tuhin Kanta Pandey

He said that the government is more for a calibrated strategy rather than setting a big-bang target

Archaic laws need to be reviewed keeping in mind recent changes: DFS Secy

Joshi explained the intention behind the Budget proposals for the financial sector

Budget 2024: Will make up for revenue forgone, says FM Nirmala Sitharaman

Gradually, we are moving towards a simplified taxation regime, while bringing down the incidence of tax itself. Therefore, we are taking this review, says FM

Budget 2024-25: Credit support for MSMEs to help them compete globally

The budget also announced a new mechanism for facilitating the continuation of bank credit to MSMEs during their stress period

Threshold-based relief for MSMEs must have sunset clauses: Economic Survey

A small enterprise is where the investment in plant and machinery or equipment does not exceed Rs 10 crore, and turnover does not exceed Rs 50 crore