Inclusion Financial News

Bengaluru/Mumbai: In the run-up to the Union Budget 2024, Indian fintech firms are seeking regulatory clarity, hassle-free licensing procedures, tax considerations, and provisions for financial inclusion to facilitate easier access to credit for small and medium enterprises (SMEs), in their wishlist for the finance ministry. As the fintech industry looks to deepen their presence, they seek a clearer regulatory framework that establishes legal recognition, licensing procedures and supervision which will help level the field with traditional lenders.

Asix months’ grace period was something I learnt to negotiate in assignments as one of the first women working in the infrastructure sector. When I was posted in the ports sub-sector, or in a large infrastructure project, many would question my suitability as a woman officer for a role in a male-dominated field. Inevitably, I would ‘beg’ for six months before a decision was taken to re-post me to an assignment considered more conducive for a woman officer.

Rahul Gandhi on Sunday flagged the plight of loco pilots and asserted that the INDIA bloc will raise its voice in Parliament to improve their rights and working conditions. Gandhi's remarks on X came as he posted a video of his recent interaction with loco pilots at the New Delhi Railway Station. «In Narendra Modi's government, the train of the life of loco pilots has been completely derailed,» the former Congress chief said. He said loco pilots are forced to work 16 hours a day sitting in cabins boiling with heat.

Foreign banks have emerged as the largest investors in India’s trillion dollar sovereign bond market in recent weeks, attracted by the nation’s economic prospects and a stable currency. They’ve bought more than 500 billion rupees ($6 billion) of debt since June 1, according to data from the Clearing Corp. of India. That far exceeds about 200 billion rupees of net inflows into index-eligible bonds in the period, and suggests global banks that typically buy as clients’ custodians have also been snapping them up for their own accounts.

The Witcher has been a constant source of excitement for fans. Recently, there has been a significant update regarding the long-rumored spin-off series, The Rats. Reports from Redanian Intelligence suggest that the narrative of The Rats might not unfold as an independent series but could instead be featured within the fourth season of the popular Netflix fantasy saga.

NEW DELHI: Opening a bank account is a cakewalk for most of us. Bank executives happily come to our doorsteps for the paperwork. However, it is not the same for parents of specially abled children.

Vanessa N. Martinez, CEO and co-founder of Expressive Wealth, a Chicago-based RIA which launched this past spring, believes succession planning – and communication – should be a top priority for all advisors.

New York’s oldest and most storied bank has named the next leader for its global wealth and investments business.

finance ministry has asked various ministries, departments and public sector enterprises to avoid the arbitration process in their future contract and use the mediation to settle any disputes. It has also advised various ministries and departments to form a high level committee consisting of a retired judge, a retired high ranking officer and a technical expert for mediation in case of ongoing contract dispute and settle the matter amicably. The move is another attempt by the government to reduce insignificant litigation and to de-clog the Judiciary. “Government departments/ entities/ agencies should avoid and/ or amicably settle as many disputes as possible using mechanisms available in the contract,” said a recently released guidelines issued by the department of expenditure regarding arbitration and mediation in contracts of domestic public procurement.

debt after domestic securities were included in a global index. The benchmark 10-year yield ended at 6.9987%, following its previous close of 7.0112%.

Sojan Joseph, a mental health nurse in the National Health Service (NHS) who migrated from Kerala 22 years ago, is among the new crop of Labour members of Parliament elected to the House of Commons in the UK general election this week. Joseph, 49, connected with the voters at the doorstep with his pledge to ensure more mental health services in his constituency and succeeded in making a dent in the Conservative stronghold of Ashford in Kent, south-eastern England. In defeating Tory stalwart and former minister Damian Green, Joseph also dealt a blow to the anti-immigration rhetoric of the right-wing candidates in a seat where the far-right Reform UK came in third place after the Tories. «I am humbled with the trust you all placed in me and fully aware of the responsibilities that come with it. I will work hard for everyone in Ashford, Hawkinge and villages,» said Joseph in his acceptance speech on Friday.

Indian Penal Code (IPC), marking a significant shift in how India addresses certain crimes. One notable addition is the inclusion of community service as a punitive measure for several offenses, signaling a move towards more rehabilitative practices in law enforcement. Community Service as Alternative Punishment Under BNSS, community service is now an option for minor offenses such as petty thefts, public nuisance, and false defamation complaints. Offenders involved in thefts of property valued under Rs 5,000 can avoid traditional punishments by returning the stolen goods and performing community service.

HDFC Bank. Jefferies also maintains a buy rating on M&M Finance, while Citi remains neutral on M&M Finance. UBS reaffirms its buy rating on HDFC Bank. Additionally, Citi rates Avenue Supermarts as neutral, while Morgan Stanley rates it as overweight, with sell ratings from both Citi and Morgan Stanley respectively. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

INDIVIDUALS SHOULD NOW consider investing in long-term debt mutual funds to seize the opportunity for capital appreciation. Once rates fall, the value of long-term bond funds such as dynamic bond funds and gilt funds increases, offering the potential for good returns.

s Women@Work 2024: A Global Outlook report, only 10% of women in India believe their organisation is taking concrete steps to fulfil its commitment towards gender diversity. Lack of flexibility and inadequate benefits are resulting in a loss of gender-balance and talent for employers. So, it is upon all of us to shift the perspective through continued enhancements of initiatives and policies and integrating inclusion into day-to-day operations.

Edited excerpts of an interview: Given that the government holds a majority, I anticipate that the Budget session will proceed smoothly in terms of passing crucial bills. Over the next six months, at least, it seems likely that most bills will be passed without significant issues. The Finance Bill, in particular, is essential, and I expect it to pass without major obstacles.

₹1.73 trillion. The average in the early phase was about ₹ 0.9 trillion, which today hovers at upwards of ₹ 1.5 trillion. The relevant data reveals a widening of the tax base, increased compliance, plugged leakages and better enforcement.

The MSME sector in India is experiencing significant growth, with a notable shift in small business owners’ perspectives towards adopting technology in recent years, according to a report by PayNearby. As per the report, over 65% of micro, small, and medium enterprises (MSMEs) utilise some form of digital technology for their daily operations.

visa-waiver program for Chinese tourists announced by the Laos government includes elements that gives false impression that Taiwan is part of China, the Central News Agency (CNA) reported. The document issued by the Laos government on Wednesday said that Chinese nationals travelling to Laos may visit the country visa-free for up to 15 days as part of a group tour. It also provided the itinerary approved by the Laotian Ministry of Information, Culture and Tourism.

Abheek Barua, Chief Economist, HDFC Bank, says there is a laundry list of items that need to be addressed before we get on, and climb back onto that 8% to 9% sustainable growth path. We could have a one-off 8% or an 8.5% growth, but that is not what the steady state growth would be. I think the steady state would be closer to 7% to 7.5% in a good year. There has been a very interesting comment made by the RBI Governor recently that India is at the cusp of a structural shift as far as the economy goes and we could be moving towards a sustainable 8% kind of GDP growth. Do you think that 8% growth is sustainable? And is it realistic? And what would it take to achieve that kind of sustainable growth?

interest rate sensitivity of a major trading portfolio for state-owned public sector banks and foreign banks increased from September 2023 to March this year, implying greater exposure to the impact that volatility in bond yields can have on profits and capital. «The AFS (available for sale) portfolio's sensitivity (PV01) increased for PSBs (public sector banks) and FBs (foreign banks) since September 2023, while it declined for PVBs (private banks),» the Reserve Bank of India (RBI) said in its June 2024 Financial Stability Report.