Manojit Saha And Subrata Panda

Stories by Manojit Saha And Subrata Panda

Govt urges banks to close inoperative Jan Dhan accounts

Govt urges banks to close inoperative Jan Dhan accounts

Rediff.com   5 days ago

State-owned banks have received guidance from the government to close Jan Dhan accounts whose beneficiaries are unwilling to keep them active, amid rising instances of such accounts being misused by fraudsters as mule accounts to defraud people, people aware of the development said.

'Scope for a further rate cut in this cycle itself, if...'

'Scope for a further rate cut in this cycle itself, if...'

Rediff.com   4 Jul 2025

'India has the potential to grow at more than 7%, with the monetary policy providing a supportive hand.'

Need to shift from fortnightly to real-time credit reporting: RBI DG

Need to shift from fortnightly to real-time credit reporting: RBI DG

Rediff.com   3 Jul 2025

There is a need for real-time or near real-time credit reporting, instead of the current fortnightly system, to improve underwriting precision, enable timely reflection of borrower actions such as loan closures or repayments, and deliver a superior consumer experience, Deputy Governor of the Reserve Bank of India (RBI), M Rajeshwar Rao said on Wednesday.

'The RBI has started to support growth'

'The RBI has started to support growth'

Rediff.com   2 Jul 2025

'Deposit and lending rates have started to fall considerably. It is likely to spur investment and consumption of durables.'

Healthy balance sheets augur well for economy: RBI Governor Sanjay Malhotra

Healthy balance sheets augur well for economy: RBI Governor Sanjay Malhotra

Rediff.com   1 Jul 2025

Large tariffs by the United States administration and elevated geopolitical risk have increased near-term global financial stability risks, and along with weather events pose downside risks to domestic growth, Reserve Bank of India (RBI) Governor Sanjay Malhotra said in the foreword to the Financial Stability Report released on Monday.

AI 171 Crash: Insurance Cost: $475 Million

AI 171 Crash: Insurance Cost: $475 Million

Rediff.com   1 Jul 2025

'$125 million for the hull and the remaining of over $350 million for liability.'

'I Needed To Follow My Karma'

'I Needed To Follow My Karma'

Rediff.com   25 Jun 2025

'Once bitten, twice shy, I didn't take up the challenge this time...' 'I realised I had failed to follow my karma because I feared failure.'

$150 Million Insurance Claims Loom After AI 171 Crash

$150 Million Insurance Claims Loom After AI 171 Crash

Rediff.com   23 Jun 2025

The claims will include three kinds of liabilities: Damage to the aircraft; loss of lives who were aboard the aircraft; including the crew members; and third-party liability because of loss of lives where the aircraft crashed; and cargo liability.

'The demand for health insurance is fine'

'The demand for health insurance is fine'

Rediff.com   22 Jun 2025

'The retail industry is still growing in double digits.'

'Federal Bank Has To Now Play Test Matches'

'Federal Bank Has To Now Play Test Matches'

Rediff.com   21 Jun 2025

'The brand, the team, and the people have to make the transition from playing league matches to Test matches.'

Change of stance to neutral doesn't mean pause on rate cut: Economists

Change of stance to neutral doesn't mean pause on rate cut: Economists

Rediff.com   18 Jun 2025

The change in stance to neutral from accommodative in the June monetary policy meeting does not necessarily signal that the Reserve Bank of India's (RBI's) rate setting body - monetary policy committee (MPC) - will go on a prolonged pause on rate cuts going forward, believe experts.

'Pressure On Dollar May Continue In Near Term'

'Pressure On Dollar May Continue In Near Term'

Rediff.com   12 Jun 2025

'Many global investors have been overweight on dollar assets, so some diversification or hedging is naturally expected.'

RBI considers fresh guidelines to curb mis-selling

RBI considers fresh guidelines to curb mis-selling

Rediff.com   10 Jun 2025

Concerned over the rise in mis-selling of products by banks and non-banking financial companies (NBFCs), the Reserve Bank of India (RBI) is examining whether to come up with norms to curb such practices. Observing that pushing financial products, such as insurance, indiscriminately to unaware consumers may be detrimental to their well-being, RBI Deputy Governor M Rajeshwar Rao said, "We are examining whether it necessitates framing of guidelines to address mis-selling of financial products and services by REs (regulated entities)."

HDFC Bank to pursue legal remedies against Mehta family of Lilavati Trust

HDFC Bank to pursue legal remedies against Mehta family of Lilavati Trust

Rediff.com   9 Jun 2025

HDFC Bank on Sunday said that it will "pursue all lawful remedies" to recover public funds and address the retaliatory actions taken by the Mehta family of the Lilavati Kirtilal Mehta Medical (LKMM) Trust, which has filed a complaint against the bank's managing director (MD) & chief executive officer (CEO) Sashidhar Jagdishan alleging financial fraud.

Foreign investment in Indian corporate bonds hits 10-year high in May

Foreign investment in Indian corporate bonds hits 10-year high in May

Rediff.com   7 Jun 2025

Foreign investment in bonds issued by Indian corporates touched a 10-year high in May at 20,996 crore, driven by $3.35 billion fundraise by the Shapoorji Pallonji (SP) group, which saw infusion from Deutsche Bank, BlackRock, Morgan Stanley, Davidson Kempner, and Cerberus Capital, among others. The SP group sold three-year bonds, offering 19.75 per cent yield compounded annually and payable at maturity.

LIC picks up Adani Ports' entire Rs 5K cr issue

LIC picks up Adani Ports' entire Rs 5K cr issue

Rediff.com   30 May 2025

State-owned Life Insurance Corporation (LIC) on Thursday entirely subscribed to the Rs 5,000 crore bond issue of Adani Ports and Special Economic Zone (APSEZ) at a coupon rate of 7.75 per cent, said sources privy to the development.

'Yes Bank has solved the asset quality problem'

'Yes Bank has solved the asset quality problem'

Rediff.com   17 May 2025

'Now we have one of the best asset qualities in the industry.'

After CEO exit, RBI okays IndusIndexecutives' panel to run the show

After CEO exit, RBI okays IndusIndexecutives' panel to run the show

Rediff.com   1 May 2025

The Reserve Bank of India (RBI) has approved IndusInd Bank's request to form an executive committee to discharge the duties and responsibilities of the chief executive officer (CEO) for a period of maximum three months or till a new CEO takes charge, whichever is earlier.

'Clients Are In Risk-management Mode'

'Clients Are In Risk-management Mode'

Rediff.com   28 Apr 2025

'Entering India is exciting, but it's also challenging. You have to be prepared for long-term investment.'

Trade war hit on India likely to be limited: RBI

Trade war hit on India likely to be limited: RBI

Rediff.com   23 Apr 2025

The Indian economy could remain less affected by global trade wars than other countries because the two engines of domestic growth - consumption and investment - are likely to face a limited impact from such headwinds, according to an article on the 'State of the Economy' in the Reserve Bank of India's (RBI's) bulletin, released on Tuesday.