The Reserve Bank of India (RBI) has proposed standardised forms and a uniform process for settling claims on bank accounts, safe deposit lockers and articles kept in safe custody of deceased customers, with a 15-day settlement deadline and compensation to nominees or legal heirs for delays.The central bank has issued the Draft Circular – Reserve…
Willy Chavarria (L); Sandals known as “huaraches” displayed at a market in Oaxaca (R) US fashion designer Willy Chavarria has said he regrets that sandals he made with Adidas copied a traditional design from Oaxaca in southern Mexico.“I deeply regret that this design has appropriated the name and was not developed in direct and meaningful…
JM Financial Credit Solutions Ltd (JMFCSL), a wholly-owned subsidiary of JM Financial, will sell a 2.1% stake in its home loans subsidiary to Bajaj Allianz Life Insurance Company for Rs 65.5 crore.In a regulatory filing on Sunday, JM Financial said JMFCSL has signed an investment agreement with Bajaj Allianz Life to sell 1.36 crore equity…
Agriculture minister Shivraj Singh Chouhan will digitally transfer Rs 3,200 crore in crop insurance claims on Monday under the Pradhan Mantri Fasal Bima Yojana (PMFBY) to 30 lakh farmer beneficiaries. The transfer will take place during an event in Jhunjhunu, Rajasthan, attended by Rajasthan Chief Minister Bhajanlal Sharma, Union Minister of State for Agriculture Bhagirath…
Malaysia Airlines Berhad sees India as an “interesting” and high-potential market and wants to be accepted as one of the country’s core service providers connecting it to the rest of the world, Group Managing Director of Malaysia Aviation Group Berhad, Izham bin Ismail has said.The Southeast Asian premium carrier, headquartered in Kuala Lumpur, operates 77…
Gold prices are poised to extend gains in the coming week as macroeconomic uncertainty, trade tensions and central bank buying continue to fuel investor demand, analysts said.Traders will track a string of key economic data releases, including GDP figures from the UK and EU, and US Core PPI and Core CPI data. Speeches from US…
The Indian stainless steel industry has sought anti-dumping duties on low-priced imports from select countries, citing an urgent need to protect domestic players in the face of global trade uncertainties.Jindal Stainless Managing Director Abhyuday Jindal said the Indian Stainless Steel Development Association (ISSDA), representing the industry, has petitioned the Directorate General of Trade Remedies (DGTR)…
Punjab National Bank (PNB), the country’s second-largest public sector lender, has identified more than 100 non-performing asset (NPA) accounts for sale to asset reconstruction companies (ARCs) during the current financial year in a bid to strengthen recoveries.“More than 100 accounts we have identified… the book size will be somewhere around Rs 4,000–5,000 crore. That is…
Nobel laureate Abhijit Banerjee has said India should reassess whether importing cheap oil from Russia is “worth it” after the Trump administration imposed an additional 25 per cent tariff on Indian goods, taking the total levy to 50 per cent — one of the highest by the US on any country.The latest tariff hike, signed…
The Confederation of Indian Industry (CII) has proposed a series of comprehensive land reforms to bolster India’s position as a global manufacturing hub. Key among these proposals is the creation of a GST-like Council to facilitate coordinated and consensus-based land reforms across the country. CII suggests standardizing stamp duty rates to a uniform 3 to…
