Finance

PSU banks launch joint plan to boost economic growth

While the overall credit growth is still at 12%, the flow of credit to small/medium businesses remained weak and export credit growth has contracted. In a bid to kick-start growth, the government has pushed public sector banks to initiate a nationwide campaign to ensure credit flow to businesses, big and small. For the first time, such a massive coordinated effort ... Read More »

Jana Small Finance Bank receives Scheduled Bank status from RBI

The Bengaluru-headquartered bank, established as a financial services company in 2009, said it presently operates 260 branches and 338 asset centres serving over 5.5 million customers in different states. Jana Small Finance Bank Ltd announced on Thursday it has got the status of a Scheduled Bank from RBI. The Bengaluru-headquartered bank, established as a financial services company in 2009, said it ... Read More »

Ujjivan Small Finance Bank Q1 net jumps two-fold to Rs 94 cr

Ujjivan Small Finance Bank (SFB) on Friday reported more than two-fold jump in its net profit at Rs 94.4 crore in the first quarter ended June 2019, helped by healthy growth in advances and improvement on stressed assets front. The bank had posted a net profit of Rs 46.10 crore during the corresponding April-June quarter of the previous fiscal ended March ... Read More »

Family finance: Why salaried Prashanth and Sushma need to increase investment in equity

Prashanth and Sushma stay with their three-year-old child in Kallige, Karnataka. They are both engineers and get a combined monthly salary of Rs 1 lakh. They have a house worth Rs 60 lakh and are repaying a Rs 2 lakh home loan with an EMI of Rs 9,000. After considering household expenses, EMI, insurance and investment, they are left with a surplus ... Read More »

How This Fake Financial Expert Tricked Outlets Into Publishing Her Advice

Patricia Russell seemed to appear out of nowhere. A certified financial planner and graduate of several prestigious colleges, Russell has recently been quoted in major publications such as Newsday, MarketWatch, Consumer Reports, Business Insider and U.S. News, as well as sites that recirculate content on MSN and other websites. She has also written columns for personal finance blogs, including Moolanomy and Think Save Retire. The only problem? She’s not a real person. ... Read More »

Why top finance officer had to go

Former finance secretary Subhash Chandra Garg played a key role in the Budget for 2019-20. The late night order by the appointments committee of the Cabinet on July 24 shifted, shuffled or promoted 24 babus, but none caught attention as much as Union Finance Secretary Subhash Chandra Garg’s surprise exit. The announcement of the transfer of Garg to the decidedly ... Read More »

World Bank ready to finance other projects in Andhra Pradesh: Official

The World Bank has apprised the Andhra Pradesh government of its readiness to finance other projects in the state in spite of its refusal to a $300 million Amaravati project, an official said. World Bank officials communicated this to the state government after the  $300 million loan proposal for Amaravati was dropped at the behest of the Centre, a top ... Read More »

Data presented in Budget is 100 per cent above board: Finance Minister

NEW DELHI: Amid a debate over variance in numbers in the Economic Survey and the Budget, Finance Minister Nirmala Sitharaman Wednesday said both the documents present consistent picture and her budget numbers are authentic and projections based on realistic estimates. “The data which is given in the Budget is 100 per cent above board…there need not be any speculation on the figures which have ... Read More »

Family finance: Krishna needs to quickly invest high surplus to meet all goals

A.M. Krishna,38 years, stays with his homemaker wife, 34 years, and two-yearold child in his own house, in Hyderabad. He brings in a salary of Rs 1.26 lakh a month. He has also taken a home loan of Rs 23 lakh, for which he is paying an EMI of Rs 40,500. After considering household expenses of Rs 35,000, insurance premium ... Read More »

Budget 2019: How the Budget impacts you and your finance

Union Finance Minister Nirmala Sitharaman presented her maiden budget in Parliament on Friday. While the budget was sprinkled with a few hits and misses, it mostly failed to live up to the expectations of many and fell short of any mega announcements. There are a few exemptions for taxpayers, a few duty hikes and a few announcements of such as ... Read More »