Month: March 2023
👍👍👍👍👍Bank runs and resolutions
Clipped from: https://www.business-standard.com/opinion/columns/bank-runs-and-resolutions-123032801300_1.html The collapse of Silicon Valley Bank and the swift intervention by the US authorities hold lessons for India – to complete the unfinished
👍👍👍At 8.15% for FY23, EPFO returns are second lowest in over 45 years
Clipped from: https://www.business-standard.com/economy/news/at-8-15-epfo-returns-second-lowest-in-over-45-years-shows-data-123032800993_1.html Listen to This Article The Employees’ Provident Fund Organisation (EPFO) decision to increase its declared rate of return has narrowed the gap with
👍Cracking the whip: 18 drug companies lose licence over spurious medicines
Clipped from: https://www.business-standard.com/companies/news/licences-cancelled-for-18-drug-firms-as-part-of-nationwide-inspection-drive-123032801039_1.html Move comes after Drugs Controller General of India conducts inspection on 76 drug firms in 20 states Photo: Pexels Listen to This Article
👍MPC should raise rates by 25 bps next week: Economists tell RBI
Clipped from: https://www.business-standard.com/finance/news/mpc-should-raise-rates-by-25-bps-next-week-economists-tell-rbi-123032800730_1.html Say current dynamics warrant hike, but RBI should keep liquidity stance flexible Listen to This Article At a meeting on Monday with senior
👍Public sector banks wrote off ₹91,000 cr in 9 months of FY23 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/public-sector-banks-wrote-off-91000-cr-in-9-months-of-fy23/article66671983.ece Recovery in FY22 just over ₹1 out of ₹5 in written off accounts Public sector banks have written off around ₹91,000 crore in
👍Flip side to bank transparency – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/flip-side-to-bank-transparency/article66672816.ece More transparency can, in fact, increase risk of runs on NBFCs in the Indian context The recent unexpected collapse of the Silicon Valley
👍👍👍👍👍CPI index needs an overhaul – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/cpi-index-needs-an-overhaul/article66672138.ece The Centre needs to review the computation methodology of the index With consumer price inflation soaring to multi-decade highs over the past year
👍👍👍I-T Department extends PAN-Aadhaar linking deadline to June 30 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/govt-extends-pan-aadhaar-linking-deadline-to-june-30/article66671113.ece The previous deadline to link PAN with Aadhaar was March 31, 2023 If you have not linked your Permanent Account Number (PAN) with your Aadhaar yet, you
👍Personal loans continue to drive credit expansion, says RBI – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/personal-loans-continue-to-drive-credit-expansion-says-rbi/article66672455.ece RBI said that all population groups (rural, semi-urban, urban and metropolitan) recorded double digit credit growth Personal loans continued to lead credit expansion, with
👍IRDAI to remove upper cap on commission for insurers under EoM – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/irdai-to-remove-upper-cap-on-commission-for-insurers-under-eom/article66672364.ece Puts in place a system where overall expenses of an insurer would be monitored The Insurance Regulatory and Development Authority of India (IRDAI)
👍👍👍CA Institute issues implementation guide on mandatory “audit trail” norm – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/ca-institute-issues-implementation-guide-on-mandatory-audit-trail-norm/article66672250.ece New MCA mandatory norm for companies to kick in from April 1 The CA Institute has issued an implementation guide that is expected to come
👍GST rate rationalisation unlikely before 2024 Lok Sabha elections
Clipped from: https://www.business-standard.com/india-news/electoral-compulsion-may-delay-gst-overhaul-amid-inflationary-uncertainties-123032800988_1.html Centre, states not in favour any major change in GST structure amid inflationary pressure Listen to This Article Overhaul of the goods and
👍👍👍To assess worldwide view on bail in case of assault laced with cruelty, HC turns to ChatGPT | Deccan Herald
Clipped from: https://www.deccanherald.com/national/to-assess-worldwide-view-on-bail-in-case-of-assault-laced-with-cruelty-hc-turns-to-chatgpt-1204347.html While dismissing the bail plea, the judge observed ‘causing death itself is cruel but if the cruelty causes death, the tables turn’ Representative
Cyber criminals using ChatGPT popularity to spread malwares via FB accounts
Clipped from: https://www.business-standard.com/technology/tech-news/cyber-criminals-using-chatgpt-popularity-to-spread-malwares-via-fb-accounts-123032700516_1.html Cyber criminals are exploiting popularity of ChatGPT to spread malware through hijacked Facebook accounts, cyber intelligence firm CloudSEK said on Monday Photo: Bloomberg
After Supreme Court’s fraud tag verdict, responsibility now on banks
Clipped from: https://www.business-standard.com/finance/news/after-supreme-court-s-fraud-tag-verdict-onus-shifts-on-to-banks-123032701028_1.html Borrowers – small and large – can now seek a relook at their cases The apex court was of the view that this
Hear borrowers before declaring accounts ‘fraud’: Supreme Court
Clipped from: https://www.business-standard.com/india-news/bank-borrower-should-be-heard-before-declaring-account-as-fraud-sc-123032700385_1.html December 2020 judgment of Telangana High Court upheld Supreme Court (Photo: Wikipedia) The Supreme Court on Monday said a borrower should be allowed to
Expected loss model: PSBs may seek pause on paying govt dividends
Clipped from: https://www.business-standard.com/finance/analysis/expected-loss-model-may-lead-to-pause-on-dividend-paid-by-psbs-123032700768_1.html Sitaraman said banks’ provisioning cover ratio was close to 75 per cent – the highest in about the last 25 years Sitaraman said
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