MUMBAI: A penalty of Rs 91 lakh has been imposed on HDFC Bank for violating certain provisions of the Banking Regulation Act, RBI said on Friday. The penalty has been imposed on the private sector lender for deficiencies in statutory and regulatory compliance, including those related to Know Your Customer (KYC). RBI said a statutory…
NEW DELHI: The Indian economy is expected to grow at 7% or higher during the current financial year and top the $4 trillion-mark, chief economic adviser V Anantha Nageswaran said on Friday.The growth estimates are higher than the 6.3-6.8% projected in the Economic Survey tabled in Parliament ahead of the Budget.“The first half of the…
Rohit Sharma and Virat Kohli (PTI Photo) NEW DELHI: Excitement is rising ahead of the opening ODI of the three-match India–South Africa series, which begins in Ranchi on Sunday. The reason is clear — two modern-day greats, Virat Kohli and Rohit Sharma, are set to return to action. Fans have already begun gathering in large…
Veteran star and one of Hindi cinema’s most cherished icons, Dharmendra, passed away this month at 89. To honour his memory, Sunny Deol and Bobby Deol hosted a special prayer meeting at a Mumbai hotel on Thursday. On the same day, Hema Malini held a Gita path at her residence. Govinda’s wife, Sunita Ahuja, visited…
MUMBAI: The directors of Tata Sons met Friday, over two months after ex-bureaucrat Vijay Singh resigned from the board. The meeting, chaired by N Chandrasekaran, discussed and considered routine corporate matters related to the company and its affiliated entities, said people aware of the matter. Apart from Chandrasekaran, the board consists of five members, including…
MUMBAI: Microfinance must now shift from basic access to delivering long-term income stability for borrowers and a clear pathway to formal credit, the RBI said. The central bank has warned that the sector’s recent regulatory freedom can become a liability if lenders do not uphold responsible conduct.Speaking at a microfinance industry network event during the…
NEW DELHI: India is hopeful of reaching a framework trade deal with the US this year that should address the tariff issue to the benefit of Indian exporters, commerce secretary Rajesh Agrawal said here Friday. While a bilateral trade agreement (BTA) will take time, a framework trade deal will address the reciprocal tariff challenge faced…
MUMBAI: SoftBank-backed e-commerce startup Meesho will focus on making online shopping affordable for more consumers and build the value segment of the market where the opportunity is large rather than going after the quick delivery space, said Vidit Aatrey, co-founder and CEO at the company which is set to get listed on the bourses next…
Ranveer Singh’s upcoming film ‘Dhurandhar’, directed by Aditya Dhar, has been in the spotlight since its announcement. When the trailer dropped, fans and social media users speculated that the story might be based on real events. Many believed that Ranveer’s character could be inspired by Major Mohit Sharma, the Ashoka Chakra awardee who went undercover…
MUMBAI: Almost twelve- -and-a-half years after Indian securities markets had plunged into a major payment crisis, curtains are coming down on the National Spot Exchange (NSEL) fiasco. On Friday, NCLT Mumbai allowed a Rs 1,950-crore settlement scheme between NSEL along with its promoter 63 Moons, and the traders who had dues aggregating nearly Rs 4,300…