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4 days ago | 
rediff.com | Harsh Kumar |Asit Ranjan Mishra
The revised ceiling will be within the Rs 10 lakh mark. IMAGE: Account holders queue outside a branch of the New India Co-operative Bank in Mumbai after the Reserve Bank barred it from offering new loans or accepting deposits, making it unable for customers to withdraw funds. The government is actively considering a hike in the deposit insurance limit for bank deposits from the present level of Rs 5 lakh within the next six months, a senior finance ministry official told Business Standard.
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Feb 1, 2025 | 
rediff.com | Ruchika Chitravanshi |MONIKA YADAV |Harsh Kumar
'Nearly 10 million people will benefit from the increase in the rebate limit for those earning up to Rs 12 lakh.''We expect all that money will come back into the economy in either savings, consumption, or investments.'IMAGE: People watch the live telecast of Union Budget 2025 at a showroom in Patna, February 1, 2025.
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Jan 30, 2025 | 
rediff.com | Ruchika Chitravanshi |Harsh Kumar |MONIKA YADAV
This will be the first full-year Budget of the BJP-led National Democratic Alliance government since it came to power for a third consecutive term in July last year. IMAGE: Finance Minister Nirmala Sitharaman. On February 1, Union Finance Minister Nirmala Sitharaman will present the 14th Budget of the Narendra Modi government since it took office in 2014.
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Dec 11, 2024 | 
rediff.com | Harsh Kumar
A day after his appointment as the 26th governor of the Reserve Bank of India (RBI), outgoing Revenue Secretary Sanjay Malhotra on Tuesday said one must understand the economic landscape and do what was best for the economy. “Let me first go, join, understand the turf … Here it is a different role,” Malhotra said, speaking to reporters in front of North Block.
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Dec 9, 2024 | 
rediff.com | Harsh Kumar |Asit Ranjan Mishra
As RBI governor, Sanjay Malhotra will have to give the highest priority to the interest of the economy while deciding on the growth-inflation trade off at Mint Street. IMAGE: The Appointments Committee of the Cabinet appointed Revenue Secretary Sanjay Malhotra as the Governor of the Reserve Bank of India for a three-year term beginning Wednesday, December 11, 2024.
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Dec 3, 2024 | 
rediff.com | Harsh Kumar
Public sector banks (PSBs) have proposed the Finance Ministry their plan to raise Rs 54,800 crore through Additional Tier-1 (AT-1) and Tier-2 bonds in the current financial year (FY25), 37 per cent more than the Rs 39,880 crore raised in FY24, according to an internal document reviewed by Business Standard. Both AT-1 and Tier-2 bonds are regulatory capital instruments used by banks to meet capital adequacy requirements under Basel III norms, but they differ in risk and structure.
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Nov 30, 2024 | 
rediff.com | Harsh Kumar
'Rates go up, revenues go up, and the need for compensation diminishes.'The Goods and Services Tax Council has turned into a "rate cutting panel", former chief economic adviser Arvind Subramanian said on Friday while suggesting that the council should instead consider jacking up the rates, which would boost the revenue and reduce the need for renewing the compensation cess.
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Nov 20, 2024 | 
medium.com | Harsh Kumar
Model PerformanceHarsh Kumar·Follow6 min read·--Data is the foundation of all algorithms in the fields of artificial intelligence (AI) and machine learning (ML), influencing choices, forecasts, and inventions. Raw data, however, is insufficient on its own. An essential component of the success of AI and ML systems is the capacity to glean valuable insights from intricate datasets. Data visualisation is crucial in this situation.
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Nov 13, 2024 | 
rediff.com | Harsh Kumar
The Union Finance Ministry on Tuesday said that aggregate business of public sector banks (PSBs) has shown strong growth of 11 per cent in the first half of the financial year 2024-25 (H1FY25) to touch Rs 236 trillion. The operating and net profit were also robust. At Rs 1.5 trillion, operating profit grew by 14.4 per cent year-on-year (Y-o-Y) while the net profit saw an impressive 25.6 per cent jump at Rs 85,520 crore in the first half of FY25.
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Nov 8, 2024 | 
rediff.com | Harsh Kumar
'It has remained around 38 per cent over the past four to five quarters.'UCO Bank is planning to raise up to Rs 2,000 crore through qualified institutional placement (QIP) in the December quarter to meet minimum public shareholding (MPS) norms.
