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Aditya Puri features in Barron’s 30 best CEOs
MUMBAI: HDFC Bank managing director Aditya Puri's name has featured in the list of world's 30 best CEOs, published by American financial magazine Barron's.
"Puri, 66, has transformed HDFC Bank from a start-up into one of the world’s highest-quality banks, generating eye-popping returns by maintaining lending standards while expanding beyond corporate loans into a full-service retail bank," Barron's said.
Sensex trips 97 points, Nifty below 9,100
MUMBAI: The benchmark Sensex fell almost 97 points and the NSE Nifty cracked below the 9,100-mark in early trade on March 27 as investors took profit in recent gainers amid weak Asian cues.
The 30-share barometer declined 96.80 points, or 0.32 per cent, to 29,324.60 with sectorial indices led by metal, teck, IT, healthcare, oil&gas, FMCG and auto trading in negative zone with losses up to 0.86 per cent.
12 lakh new notes infused in the market: Jaitley
NEW DELHI: Around 12 lakh new currency notes have been infused into the market by the Reserve Bank of India ever since the remonetisation process has started, Finance Minister Arun Jaitley said today.
E-commerce expected to touch USD 50-55 billion by 2021: Study
MUMBAI: E-commerce market is expected to be at USD 50-55 billion by 2021 from the current USD 6-8 billion, according to a recent report.
The report by Retailers Association of India and Boston Consulting Group revealed that on decoding the digital opportunity sectors that could see maximum e-commerce penetration would be consumer electronics, apparel, homeware and furniture, luxury, health, FMCG and food and grocery.
India, UAE trade to hit USD 100 billion by 2020: CII
DUBAI: Trade between India and the UAE is set to hit USD 100 billion by 2020, up from the current USD 60 billion, the Confederation of Indian Industry has said.
"This is evident in the growing interest by the Indian companies towards the Middle East markets and in particular the UAE and efforts made by the Ministry of Commerce & Industry and CII to further strengthen the trade and investment ties," Confederation of Indian Industry (CII) said in a statement released here.
Payments banks to have 'multiplier impact' on banking: FM
NEW DELHI: Finance Minister Arun Jaitley today said payments bank will have a "multiplier impact" by providing doorstep banking to people in remote areas at lower cost and compete with traditional banks in future.
Launching the pilot services of India Post Payments Bank (IPPB) at Raipur and Ranchi, Jaitley said IPPB will expand operations to 650 districts by September and have a "multiplier impact" on the country's banking system and financial inclusion.
India Post, which got RBI nod to launch banking operations on January 20, is only the third entity to have got permit to start operations after Airtel Payments Bank and PayTm.
Budget 2017-18 may look to soften note ban woes by tax relief
NEW DELHI: Finance Minister Arun Jaitley will on Wednesday present his fourth and perhaps the most challenging Budget that may look to soften blow of currency ban with tax and other sops as he seeks to revive growth.
While largely sticking to fiscal consolidation roadmap, Jaitley will present the Budget for 2017-18 amid strong headwinds caused by government decision to invalidate 86 per cent of the currency and the newly elected US President making protectionist noises.
RBI imposes restrictions on withdrawal from certain bank accounts
MUMBAI: Tightening the noose around people who misused banking channels to park unaccounted money, the Reserve Bank today imposed certain restrictions on withdrawal if more than Rs 2 lakh has been deposited after November 9 in an account which has a balance of over Rs 5 lakh.
As per a RBI notification, withdrawal or transfer of funds will not be permitted in accounts without quoting of PAN or submission of Form 60 (persons who do not have PAN).
Exporters seek higher cash withdrawal limit: Sitharaman
NEW DELHI: Worried over the impact of demonetisation of high value notes on production chain, Commerce Minister Nirmala Sitharaman today assured exporters that she would take up their demand of increasing the cash withdrawal limit with the Finance Minister.
The issue was raised by export promotion councils during their meeting with Sitharaman here.
Make funds available to farmers through co-ops: FM to banks
NEW DELHI: Government today asked banks to provide resources to cooperative institutions with which they are associated to meet cash requirements of the farm sector during the ongoing rabi season.
"We had a discussion with RBI, Nabard and all public sector banks and the only item for discussion was with regard to transfer of resources to rural areas so that they will reach the farmers since the sowing season for rabi is on and a lot of this will happen through the cooperative itself," Finance Minister Arun Jaitley said.