The asset quality management, prompt corrective action framework are all great functions well carried out by "our true regulator of the banks Reserve Bank of India", she said. Sitharaman further said that inflation management, despite monetary tightening pressures, has stablised government bond (G-secs) yields which is important for the economy.
Several bank customers have reported either attempted fraudulent transactions or transactions that have gone through with international merchants. Axis Bank did not disclose the number of complaints received but said they were `very small'.
This week, The Hurun Global Rich List 2024 revealed that India has added 94 new billionaires this year surpassing 55 by China. At the same time, Mumbai’s wealth surged by 47% over the past year whereas Beijing has remained at 28%, making Mumbai the biggest city of billionaires in Asia.
BSE and NSE to introduce T+0 settlement for 25 stocks in India, reducing risks and freeing up funds. Buyers get stocks in demat accounts. Market institutions and brokers offer faster settlement within price band.
Mumbai overtakes Beijing as Asia's billionaire hub, fueled by post-Covid market surge. Indian market outperforms China, attracting global wealth interest. Indian billionaires poised to expand globally for significant wealth accumulation.
As per the Hurun report, the Financial Services has fallen to the sixth position, welcoming 10 newcomers and raising the total count to 70 entries. Despite this, the industry's combined wealth saw a growth of 9.5%. The sector boasts 14 new dollar billionaires on the list. Manish Kejriwal, the founder of Kedaara Capital, has become the first India-based fund manager to be featured in the list.
In India, real GDP growth was at a six-quarter high in the October-December period of 2023-24, powered by strong momentum, robust indirect taxes, and lower subsidies.
As per the report, a majority of women participated in campus hiring exams last fiscal for sectors such as IT, banking, financial services and insurance (BFSI) industry, and research and development (R&D). Further analysing the data, the report said IT services top the chart in women's participation in campus hiring.
The insurance major has leased this office space - spread across four floors - for five years through a structured deal, a person cited earlier said, adding that the company will be paying a monthly rental of 91.5 per sq ft for the office space. Read on to know more:
Eurobank, based in Athens, plans to establish a presence in India by opening a representative office in Mumbai. With 80.5 billion euros in assets and a strong corporate client focus in Greece, Cyprus, Bulgaria, Luxembourg, and the UK, Eurobank aims to serve Indian businesses seeking a commercial presence in Europe.
Embassy REIT anticipates strong growth in commercial real estate in India, with a focus on cities like Bangalore and plans to enter Chennai. They expect NOI to exceed Rs 3,000 crore in FY24 and have seen positive demand from global capitals for office space. Plus, they are constructing close to 7 million square feet in our existing parks where the land is already paid for.
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