Banking And Finance
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Centre defers plan to levy 20% tax on purchases made abroad using credit cards
The decision was taken to give banks more time to prepare their systems, the finance ministry said.
Scroll Staff
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Four pieces of advice for Ajay Banga before he takes on the role of World Bank president
This is a crucial time for the World Bank, with calls for reform and sky-high expectations from its next leader.
Rachel Kyte, The Conversation
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Lessons from 19th century on how to fix the financial sector after Silicon Valley Bank’s collapse
New rules following a spate of bank failures in Britain could provide lessons for today’s regulators.
Lucy Newton, The Conversation & Victoria Barnes, The Conversation
Trending
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No one spared in ‘NewsClick’ raids – young staffers, part-time employees, freelance contributors
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Live
India at Asian Games, Oct 4, live: Jyothi Vennam, Ojas Deotale win archery gold; bronze in racewalk
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After spending Rs 33,000 crore, has the Indian government finally managed to clean the Ganga?
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Watch: Man dances inside Mumbai local train, railways ask commuters not to ‘perform such activities’
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India at Asian Games, Oct 4 schedule: Neeraj Chopra, Lovlina Borgohain to fight for gold
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HSBC acquires Silicon Valley Bank’s UK arm for £1
The development took place three days after the US-based Silicon Valley Bank was shut down by regulators in California.
Scroll Staff
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India links UPI payment system with Singapore’s PayNow
This is the first-of-its-kind collaboration between two countries.
Scroll Staff
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NRIs in 10 countries can now set up UPI on international mobile numbers
The countries are Singapore, Australia, Canada, Hong Kong, Oman, Qatar, the United States, Saudi Arabia, the United Arab Emirates and the United Kingdom.
Scroll Staff
Video
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Watch: Lion spotted standing in the waters of the Arabian Sea in Junagadh, Gujarat
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Jaipur: Man in red jumpsuit and mask from ‘Money Heist’ climbs on car to toss cash on the street
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Watch: Baby crocodile spotted in swimming pool in Dadar, Mumbai
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Watch: Robot dogs replace human volunteers to carry discuses at Asian Games in Hangzhou
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Watch: Major traffic jam in Hyderabad’s Kukatpally area as people rush to newly opened Lulu Mall
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State Bank of India hikes lending rates by 0.1% for second time in a month, EMIs to get costlier
The move came nearly two weeks after the Reserve Bank of India raised its repo rate by 0.4% to 4.40%.
Scroll Staff
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State Bank of India raises lending rates by 0.1%, EMIs to get costlier
Following the State Bank of India’s move, Bank of Baroda, Axis Bank and Kotak Mahindra Bank also increased their benchmark lending rates.
Scroll Staff
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Why Citibank joined a line of foreign banks leaving India
A pioneer in the country’s credit cards space, Citi saw its outstanding credit cards decline from 26 lakh a year ago to 25 lakh by the end of February.
Mimansa Verma, qz.com
The Reel
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Watch: Ravi Teja in action thriller ‘Tiger Nageswara Rao’
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‘12th Fail’ trailer: Vikrant Massey plays a UPSC applicant
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Book versus movie: Bengali film ‘Herbert’ says if the source story is great, don’t tinker with it
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Start the week with a film: In ‘A Fantastic Woman’, a trans singer hits the right notes
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Watch: Gigi Scaria’s film revisits memories of meeting Mahatma Gandhi
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From Nirav Modi to ABG Shipyard: Why do bank frauds keep happening in India?
A lack of regulation, flawed lending policies and an inefficient fraud monitoring mechanism are among the factors that have led to a rise in NPAs.
Mimansa Verma, qz.com
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Public banks are being marginalised in the lending arena by new-age financial power brokers
India is leaning dangerously toward enabling a new generation of oligarchs in the mould of Russia or Mexico.
Rohit Chandra
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RBI supersedes board of Anil Ambani’s Reliance Capital, to start bankruptcy proceedings
The central bank said the company has not been able to meet payment obligations to its creditors and address other ‘serious governance concerns’.
Scroll Staff
The Field
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Watch, Asian Games: Annu Rani becomes first Indian woman to win javelin throw gold
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ICC Men’s ODI World Cup: Australia defeat Pakistan; Afghanistan also win in warm-up vs Sri Lanka
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Live
India at Asian Games, Oct 4, live: Jyothi Vennam, Ojas Deotale win archery gold; bronze in racewalk
Live -
India at Asian Games, Oct 4 schedule: Neeraj Chopra, Lovlina Borgohain to fight for gold
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Asian Games, Boxing: Preeti Pawar keeps up with reputation to cause upsets after memorable campaign