The precautionary behaviour in cash usage is also evident from the excess financial savings of households, which rose to 15.5 per cent of the Gross National Disposable Income (GNDI) in 2020-21 from 11.7 per cent a year ago. The analysis also suggests that for transaction purposes cash is being increasingly substituted by digital means.
Core inflation eased to 4.3% in October, according to official data. "Core inflation internals remain favourable with decline led by services inflation that is typically less volatile. But the scope for a meaningful and sustained fall in core may be limited unless growth softens materially," said Abhishek Upadhyay, senior vice president and economist, ICICI Securities PD.
In a heartfelt statement, the Sahara India group expressed profound sorrow as it announced the passing of the Chairman of Sahara Group, Subrata Roy. The renowned business figure, also known as 'Saharasri,' succumbed to cardiorespiratory arrest on Tuesday. The Sahara India Pariwar community mourns the loss of its Managing Worker and Chairman, remembering Subrata Roy Sahara for his significant contributions and leadership
The loan agreement for the sub-programme 2 was signed between Juhi Mukherjee, joint secretary, department of economic affairs, ministry of finance, and Takeo Konishi, country director of ADB’s India resident mission.
Cola maker PepsiCo India is including family members of employees in festive celebrations, and this year organised a family day across India with activities for children and adults, while edtech firm Upgrad is curating special gift boxes for employees. Fintech startup Simpl is using the occasion of Diwali to promote sustainable living among its workforce, gifting them healthy snackable options, meditation kits and a virtual assistant (Amazon Echo).
Reserve Bank Deputy Governor M Rajeshwar Rao has advocated the establishment of a specialized institute aimed at educating regulators from various sectors. Rao emphasized that effective regulation necessitates a forward-looking approach and meticulous drafting, akin to the finesse of an art form. He underscored the importance of concentrating efforts on training and enhancing the skills of regulatory professionals.
From a macro-perspective, low levels of financial literacy across the population could also mean lacklustre growth for the economy since research has shown that emerging markets cannot reach their full potential should half their working age population continue to lack financial know-how.
Top Indian companies are facing challenges due to the capital-markets regulator's new Environmental, social and governance (ESG) rules as they struggle to collate non-financial data dispersed across various internal systems, evaluate the impact of disclosing private data on sensitive governance issues, and start dealing with the complexity of capturing and auditing data from thousands of their suppliers.
Deloitte India's survey finds that Indian businesses are committed to ESG principles, but there is a significant gap in preparedness and action. Only 27% of Indian organisations feel adequately equipped to meet their ESG strategy and compliance requirements, while only 15% believe their suppliers to be prepared to comply with the organisations' ESG requirements.
Deloitte India's survey finds that Indian businesses are committed to ESG principles, but there is a significant gap in preparedness and action. Only 27% of Indian organisations feel adequately equipped to meet their ESG strategy and compliance requirements, while only 15% believe their suppliers to be prepared to comply with the organisations' ESG requirements.
FinTechs are aggressively chasing profitability today, but are also missing out on the sustainability factor. Why are fintechs chasing profitability? What makes fintechs profitable? How can fintechs have sustainable business models amidst such high competition in the space?
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