Current RBI rules don't cover group-based lending models where levels of trust and involvement are high enough to ensure that the poor really do get the benefits of inclusive banking

B S Suran: Financial inclusion excludes the client

Business Standard

The Reserve Bank of India&rsquo;s Know Your Customer (KYC) guidelines for banks may have gone some way towards preventing them from being used, intentionally or unintentionally, for money laundering.

B S Suran: KYC can be non-inclusive

Amazon delivery drivers and Starbucks baristas are on strike in a handful of U.S. cities as they seek to exert pressure on the two major companies to recognize them as unionized employees or to meet demands for an inaugural labor contract.
The strikes that started Thursday and Friday followed other recent standoffs between corporate America and organized labor. Large and established labor unions secured meaningful employer concessions this year following strikes by Boeing factory workers, dockworkers at East and Gulf coast ports, video game performers, and hotel and casino workers on the Las Vegas Strip.
But workers at Starbucks, Amazon and some other prominent consumer brands still are fighting for their first contracts. Amazon refuses to acknowledge the organizing efforts of drivers and warehouse workers  many of whom have voted to unionize  even though the powerful Teamsters union says it represents them. Starbucks long resisted the unionization of its stores, but had agreed to ..

Donald Trump

A small plane crashed into a Brazilian town that's popular with tourists on Sunday, killing all 10 passengers and crew on board and injuring more than a dozen people on the ground, Brazil's Civil Defence Agency said.
The agency in a post on X said the plane hit the chimney of a home and then the second floor of a building before crashing into a mobile phone shop in a largely residential neighbourhood of Gramado. More than a dozen people who were on the ground were taken to hospitals with injuries including smoke inhalation, with two said to be in critical condition.
It is not immediately clear what caused the crash.
Local media reported that the passengers were members of the same family and were travelling to Sao Paulo state from another town in Rio Grande do Sul state.
Gramado is in the Serra Gaucha mountains and popular with Brazilian tourists who enjoy the cool weather, hiking spots and traditional architecture. The town was settled by large numbers of German and Italian ...

Brazil flag

Recently, Chennai Petroleum has formed a double-bottom pattern following a steep decline of 650 points, representing a 54 per cent price cut

Bull, Stock market

Haryana CM was responding to the Congress President Mallikarjun Kharge who on Sunday strongly criticised the Union Government's recent amendment to the Conduct of Election Rules

Nayab Singh Saini, Nayab Singh, Nayab

Aegis Logistics has seen a strong spurt in price and volumes in the last trading session from the cluster of its significant EMAs on the daily chart

Market, BSE, NSE, NIfty, Stock Market, investment

After two weeks of buying, FPIs turned net sellers in Indian equities this week, with a net withdrawal of Rs 976 crore amid a strengthening US dollar and steady rise in US 10-year bond yields, impacting investor sentiment.
Foreign Portfolio Investors (FPIs) began the week on a positive note, investing Rs 3,126 crore in equities during the first two trading sessions (December 16-20).
However, the trend reversed in the latter half of the week, with FPIs offloading equities worth over Rs 4,102 crore in the subsequent three sessions. This resulted in an overall net outflow of Rs 976 crore during the week, data from National Securities Depository Limited showed.
Despite this short-term reversal, the broader December trend remains positive. FPIs have infused Rs 21,789 crore into Indian equities so far this month, reflecting continued confidence in India's economic growth potential and its resilient markets.
FPIs adopted a cautious approach due to the US Fed meeting and uncertainty about 

Foreign portfolio investor exodus: Financial sector bears the brunt, FPI

Fundraising via IPOs in India hit another landmark as economic growth, favourable market conditions and improvements in the regulatory framework helped companies raise a record Rs 1.6 lakh crore in 2024, while the pipeline for the next year holds out bigger promise.
This exceptional year not only reflected the confidence of issuers but also highlighted investors' eagerness to seize listing-day gains or back companies with strong long-term growth potential.
The year was marked by Hyundai Motor India's historic IPO, the largest in the country's history, which raised Rs 27,870 crore.
Companies of varying market capitalisations -- large, mid, and small -- tapped into the IPO route in 2024, with the average issue size rising significantly from Rs 867 crore in 2023 to over Rs 1,700 crore in 2024.
The exceptional vibrancy of the IPO market was evident, with December alone seeing at least 15 launches.
"Rising retail participation, strong domestic inflows and active participation by FPIs (

ipo market listing share market

In 2024, NPCI issued 20 third party application approvals. This was much higher than three and four issuances in 2022 and 2023 respectively

NPCI

Record fundraising surpasses the previous high of Rs 9,370 cr in 2023

A 50-year-old doctor from Saudi Arabia, who has been living in Germany since 2006, is the prime suspect in the Christmas market attack in Magdeburg, which killed five people

Germany police

Embattled Canadian Prime Minister Justin Trudeau will shuffle his Cabinet Friday, a senior official familiar with the matter said Thursday.
The official confirmed the shuffle and spoke on condition of anonymity as they were not authorised to speak publicly on the matter.
Trudeau is facing rising discontent over his leadership, and the abrupt departure of his finance minister on Monday could be something he can't recover from.
A rising number of Liberal lawmakers are calling on Trudeau to resign but new Finance Minister Dominic LeBlanc said Thursday Trudeau has full support of his Cabinet."
LeBlanc said he respects the views of Liberal Members of Parliament who want Trudeau to resign.
That's a view they are expressing. The prime minister listened carefully when that view was expressed to him, LeBlanc said. He listened, in some cases responded to specific things that were raised, and he said he would reflect carefully.
LeBlanc said the government will remain focused on work and ...

Justin Trudeau, Canada PM

Haryana Chief Minister Nayab Singh Saini Thursday said the Congress will be completely finished by 2029 if it continues "spreading lies".
"If the Congress continues spreading lies, by 2029, it will be completely finished," Saini said in a scathing attack on the Congress while addressing a public meeting in Pundri in Kaithal district.
He alleged the Congress lacks a clear policy, direction, and leadership, and has resorted to "lies and deception" to secure votes.
Referring to the Lok Sabha elections, the chief minister recalled that Congress leaders started saying that if Narendra Modi were to become prime minister for a third term, the Constitution would be at risk.
He said, however, that there is no threat to the Constitution, and if anyone is in danger, it is the Congress party itself.
Addressing a 'Dhanayad rally' in the Pundri Assembly constituency, Saini highlighted that each region and town in Haryana has its own distinct food culture, citing Pundri's famous "Firni" and Goha

Our collaboration has also led to some new pinnacles of economic integration. And the stats speak for themselves, said Garcetti

Eric Garcetti, Eric, Garcetti, US Ambassador

The death toll in the Mumbai boat accident near Gateway of India that took place on Wednesday evening has risen to 14, BMC said.

Mumbai ferry collision

Israeli forces have set up a position in an abandoned Syrian army base in the village of Maariyah and prevented local farmers from accessing their fields, residents said Thursday.
Associated Press journalists who visited the area saw the Israeli troops from a distance and watched a local resident waving a white flag approach to speak with them.
The village, on the western edge of Syria's southern Daraa province, is near the Israeli-occupied Golan Heights, but outside of a buffer zone in the Golan established by a 1974 ceasefire agreement between Syria and Israel.
Abdel Raouf Issa, a resident of Maariyah, said the Israeli military had penetrated about 1 kilometre into the village and is demanding that we hand over all weapons to the occupation. We told them that we have no weapons at all.
They prevented us from farming. They prevented us from moving, he said. We call on the United Nations to remove the occupation as soon as possible.
Kamal Saleh Damara, a local official in the vill

Israel Flag, Israel

The I-T department probes Rs 7,500 crore spent on lavish weddings, targeting Jaipur planners and fake billing networks linked to foreign destination events and cash transactions

weddings, marriage

Congress calls FIR against Rahul Gandhi over Parliament scuffle a 'badge of honour', alleging BJP's vendetta and diversionary tactics to counter his protest against Amit Shah's Ambedkar remarks

B S Suran

B S Suran

B S Suran

B S Suran: Financial inclusion excludes the client

B S Suran: KYC can be non-inclusive

Latest News

In this Section

All

Amazon, Starbucks workers strike, possible Trump link raises questions

At least 10 killed as plane crashes into Brazil's popular town Gramado

Chennai Petroleum, Titagarh among top picks by Jigar S Patel of Anand Rathi

Haryana CM claims people have rejected Cong, criticises Kharge's remarks

Osho Krishan of Angel One recommends buying these two stocks on Dec 23

Most Popular

Read

Shared

Commented

FPIs pull out Rs 976 crore from Indian equities amid rising dollar

IPO boom: Record Rs 1.6 trn raised in 2024; bigger gains expected in 2025

Number of UPI apps grows in 2024, yet top two command maximum market share

Healthcare, pharma sectors raise Rs 14,811 crore via IPOs in 2024

Who is the Saudi-born suspect behind Germany Christmas market attack?