Finance

In search of a status symbol, I wound up getting ripped off big-time. But the real scam is how America's payment apps treat their customers.

Banks are comparable to the central nervous system of people’s professional and economic life. Some of the most important pr...

New Delhi, Oct 1 (IANSlife) In recent years, there has been a significant surge in the number of Indian students seeking education abroad. This trend is driven by a desire for high-quality education, global exposure, and enhanced career prospects. However, choosing the right destination is a crucial decision that can shape one's academic and professional journey.

"Dumb Money," starring Paul Dano, Nick Offerman, and Seth Rogen, depicts the Reddit-fueled 2021 trading saga that sent shares of GameStop soaring.

The Centre's fiscal deficit in the first five months of 2023-24 touched 36 per cent of the full-year target, government data showed on Friday. In absolute terms, the fiscal deficit -- the gap between expenditure and revenue -- was Rs 6.42 lakh crore as of August-end, according to the data released by the Controller General of Accounts (CGA).

Some of the biggest hedge fund managers have talked to Insider about what it takes to join their ranks. Here's what we know.

One of the standout features of India' 2023-24 was the substantial narrowing of the Current Account Deficit (CAD). The CAD decreased to USD 9.2 billion, equivalent to 1.1 per cent of GDP, showing an improvement from US$ 17.9 billion, or 2.1 per cent of GDP, in the same quarter of the previous fiscal year (Q1: 2022-23). However, it was higher than the CAD recorded in the preceding quarter, which stood at USD 1.3 billion (0.2 per cent of GDP).

Insider's annual list of the rising stars of Wall Street doubles as a way to get a sense of the hottest topics driving the industry.

The rupee on Wednesday staged a recovery after two days of steep losses to end 6 paise higher at 83.22 (provisional) against the US dollar on positive cues from domestic equity markets. However, selling pressure from foreign equity investors amid elevated levels of American currency and surging crude oil prices weighed on the local unit, forex traders said.

Rising house prices, student debt, and the cost-of-living crisis put Gen Z Brits in a uniquely insecure financial position, writer Adam England says.

A look at India’s spending pattern in the first half of 2023 (January to June), reveals an interesting trend. Debit card transactions in this period fell sharply to 1.379 billion, marking a 28% decrease from the same period in 2022. On the other hand, as revealed by a report compiled by Worldline, a payment and transaction services company, credit card transactions surged to 1.550 billion, reflecting a significant increase of 19.6% compared to H1 2022. The India Digital Payments Report H1 2023 also says that this trend is observed in the transaction values too.

RBI Governor Shaktikanta Das on Monday said the central bank is "not comfortable" with the gross non-performing assets ratio of 8.7 per cent in urban cooperative banks (UCBs) and asked them to work towards improving the same. Addressing directors of UCBs in the financial capital at an RBI-organised conference, Das urged that such lenders should improve the governance standards, avoid related-party transactions and focus on credit risks, among others.

Reserve Bank Governor Shaktikanta Das on Monday said the central bank has noticed "excessive dominance" by one or two board members even in "big commercial banks" and asked the lenders to desist from such practices. Board discussions have to be free, fair and democratic, Das said, addressing directors of Urban Cooperative Banks (UCBs) at a meeting organised by the Reserve Bank of India (RBI) here.

Ticketing platforms will be required to pass on details about users who made more than $600 this year to the IRS.

An investigation by The Guardian and the Organized Crime and Corruption Reporting Project revealed the extent of the collection now controlled by Dasha Zhukova.

Media and tech startups raised millions for their ventures with these pitch decks. Private equity and VC investors are backing firms with models aimed at disrupting Hollywood.

Reserve Bank has accorded approval to HDFC Mutual Fund to raise its stakes in Federal Bank as well as in Equitas Small Finance Bank to up to 9.5 per cent. The clearance has been granted with reference to the application made by HDFC AMC to RBI, according to a regulatory filing on Thursday.

Partner status at Goldman Sachs is considered by some to be the pinnacle of Wall Street. Former partners explain why they walked away.

American Express CEO Stephen Squeri is in bed by 10:30, but he spends the three hours before that answering about 200 emails, he told the FT.

Peter Brown, CEO of Renaissance Technologies, said during a podcast discussion that his approach was different to competitors.

Gold exchange-traded funds (ETFs) attracted Rs 1,028 crore in August, making it the highest inflow in 16 months, amid continued hikes in interest rates in the US, which led to a slowing down in growth rate there. With this, the year-to-date inflow in the category has reached more than Rs 1,400 crore, data with the Association of Mutual Funds in India (Amfi) showed. Apart from inflow, the asset base of Gold ETFs and investors' account or folio numbers increased in the period under review.

Charging the Board of Dhanlaxmi Bank Ltd of unethical conduct, unilateral arrogation of power, lack of comprehension of issues, and factionalism, Independent Director Sridhar Kalyanasundram has resigned.