Last week, the central bank had asked SBM to stop all transactions under the liberalised remittance scheme (LRS) until further notice

Reserve Bank of India, RBI

The RBI, on Monday, ordered SBM Bank to stop all transactions under the liberalised remittance scheme (LRS) until further notice, citing "material supervisory concerns" but no further detail

Digital transactions

As the third largest fintech ecosystem in the world after the US and China, the Indian fintech market is poised for further disruption with the emergence of neobanks

CREDIT CARDS, CREDIT CARDS ADVANTAGE, BENEFITS OF MULTIPLE CREDIT CARDS, CREDIT CARD TRANSACTION, Credit Utilisation Ratio, CUR,

SBM Bank on Monday said it has partnered with fintech player OneCard to launch a mobile-based credit card

Sidharth Rath, managing director and chief executive officer, State Bank of Mauritius

Sidharth Rath, MD and CEO, spoke to Raghu Mohan on the scale of the bank's ambition and the collaborative approach to rolling out business in its new avatar

SBM, sbm mauritius, state bank of mauritius, sbm india, sbm group

The bank expects to commence operations in September

SBM, mauritius, state bank of mauritius

Apart from SBM, DBS and ABN Amro Bank have also applied to RBI to convert their franchisees to local subsidiaries

Meanwhile, companies like HP and Acer, which do not sell mobile phones in India, are likely to miss out

Apple iPhone

The stock price of GVK Power & Infrastructure was locked in the 5% upper circuit for the eight day, trading at its highest level since September 2018 on the BSE

Sensex, Nifty, stock brokers

The restructuring exercise will be undertaken by Arjun Mohan, who was recently elevated as chief executive officer (CEO) of its India business, replacing Mrinal Mohit, according to the sources

Byju's

His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm

Reliance Industries chairman Mukseh Ambani and Nita Ambani's children, left to right, Akash, Isha and Anant Ambani. PTI: Photo

Isha, Akash and Anant Ambani

To borrow Rs 6.55 trillion in second half

money, cash, rupees

India kicked off the Asian Games on a sparkling note as the trio helped India to claim their first medal. Shah heaped praise on the shooters by saying that they have made the entire nation proud

Amit Shah

Kamboj recalled that India during the Covid-19 pandemic extended a helping hand by providing made-in-India vaccines to nearly 100 countries and supplying medicines to 150 nations

India's Permanent UN Representative Ruchira Kamboj

As many as 412 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.77 lakh crore in August this year, an official report said.
According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,762 projects, 412 reported cost overruns and as many as 830 projects were delayed.
"The total original cost of implementation of the 1,762 projects was Rs 25,01,400.62 crore and their anticipated completion cost is likely to be Rs 29,78,681.31 crore, which reflects overall cost overruns of Rs 4,77,280.69 crore (19.08 per cent of original cost)," the ministry's latest report for August 2023 said.
According to the report, the expenditure incurred on these projects till August 2023, is Rs 15,57,188.10 crore, which is 52.28 per cent of the anticipated cost of the projects.
However, it stated that the number of delayed projects decreased to 6

Work on the Purvanchal Expressway in progress. Infra projects, which the previous regime proposed and started, are incomplete for lack of funds,  sloppy pace of work, or allegations of corruption.	Photo: UPEIDA

Esports makes its debut at the Asian Games as a medal sport after being played as a demonstration sport in the 2018 Jakarta-Palembang

Esports at Asian Games 2023: Who are India’s medal hopes at Hangzhou?

The commerce ministry's investigation arm DGTR has "suo-motu" initiated probes against alleged dumping of three products, including unframed glass mirrors and fasteners, by Chinese companies as the authority seeks to guard MSME units against cheap imports from the neighbouring country.
Usually, anti-dumping investigations are initiated based on an application filed by domestic producers, but since the fragmented industries did not have the know-how of the procedures involved in the trade remedy probe, the Directorate General of Trade Remedies (DGTR) has undertaken the exercise to investigate the matter on its own initiative.
According to three separate notifications, the DGTR said that it is probing alleged dumping of telescopic channel drawer, unframed glass mirror and fasteners.
The move is aimed at granting much-needed protection to the MSME (micro, small and medium enterprises) producers against dumped goods from China.
"This is a giant leap forward from DGTR's first suo-motu .

Chinese goods

International credit agency Moody's Investors Service has made sweeping assertions against Aadhaar without citing any evidence, the Unique Identification Authority of India (UIDAI) said on Monday.
The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable.
"A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, the most trusted digital ID in the world. Over the last decade, over a billion Indians have expressed their trust in Aadhaar by using it to authenticate themselves over 100 billion times," the UIDAI said in a statement.
The unique id Aadhaar's custodian said that the report in question does not cite either primary or secondary data or research in support of the opinions presented in it.
"The investor service did not make any

Adhaar, UIDAI

The Nijjar murder is fast unfolding into treacherous scenarios that could have tragic consequences for both nations. No one stands to gain from the ongoing face-off

India Canada

The leaders of both countries should encourage bilateral trade and people-to-people exchanges that can help build bridges

India's rage is misplaced and hardly serves to endear the country to those appalled by the idea that it may have had a Canadian citizen killed

Canada has updated travel advisory for its citizens in India asking them to "stay vigilant and exercise caution" in the context of recent developments as there are calls for protests and some "negative sentiment" towards Canada on social media.
Tensions flared between India and Canada following Canadian Prime Minister Justin Trudeau's explosive allegations of a "potential" involvement of Indian agents in the killing of Khalistani extremist Hardeep Singh Nijjar, 45, on his country's soil on June 18 in British Columbia. India had designated Nijjar as a terrorist in 2020.
India angrily rejected the allegations as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case.
"In the context of recent developments in Canada and in India, there are calls for protests and some negative sentiment towards Canada on social media. Please remain vigilant and exercise caution," the Canadian government said in an

Google, a Search engine giant on September 27 celebrated its 25th birthday with a doodle 'a walk down memory lane' of various logos from more than two decades

Google Doodle

Chief Election Commissioner Rajiv Kumar on Tuesday signed a Memorandum of Understanding (MoU) with Electoral Commission Chairperson of Seychelles Danny Lucas on 'Electoral Cooperation' in the capital of Seychelles. The MoU was signed to boost the exchange of best practices in election management and training officials. Taking to their social media 'X', the Election Commission of India stated, "#ECI Expands Electoral Collaboration. CEC @rajivkumarec  &  Mr. Danny Lucas, Chairperson, Electoral Commission #Seychelles sign MoU on 'Electoral Cooperation' at Victoria, Seychelles. MoU to strengthen the exchange of best practices in election mgt.  &  training of officials." Indo-Seychelles relations have been characterised by close friendship, understanding and cooperation. To facilitate cooperation further a number of bilateral agreements/MOUs have already been signed during the last few decades. Earlier this year, Rajiv Kumar held productive discussions with the Chief Election ...

Rajiv

The National Investigation Agency on Wednesday is conducting major raids across 6 states in 3 cases at 51 locations belonging to associates of Lawrence, Bambiha and Arsh Dalla Gangs

In the wake of Canada's allegations about India's potential involvement in the killing of a Khalistani separatist on its soil, External Affairs Minister S Jaishankar has said that New Delhi conveyed to Ottawa that it is not the government of India's policy and it is open to looking at specific and relevant information in the case.
Yes, I do have a comment. I'll share with you very frankly what we told the Canadians, Jaishankar said during a conversation at the Council on Foreign Relations (CFR) here Tuesday when asked if he had any comment on the allegations by Canadian Prime Minister Justin Trudeau that agents of the government of India are linked to the killing of a Canadian Sikh.
"One, we told the Canadians that this is not the government of India's policy. Two, we told the Canadians saying that look, if you have something specific, if you have something relevant, let us know. We are open to looking at it, he said during a conversation with former US Ambassador to India and CFR ..

Sources privy to the development have informed ANI that 'One Nation One Election' would be beneficial not only in the national interest but would also save a lot of the financial reserves of the govt

SBM

Reserve Bank partially relaxes restrictions on SBM Bank up to March 15

SBM Bank says engaging with RBI to address 'supervisory concerns'

How neobanks are set to disrupt $31 billion Indian fintech market

SBM Bank partners with OneCard to launch mobile-based credit card

We intend to use open architecture to build scale: SBM Bank's Sidharth Rath

State Bank of Mauritius plans to open six new branches in India under WOS

State Bank of Mauritius to improve asset quality before converting into Indian subsidiary