Banking/Finance

Art of giving: Non-billionaire Indians pledge to give 50% of their wealth in charity

The promise is only to give the majority of their wealth to philanthropic causes either during their lifetime or in their will. It is not legally binding but there is moral accountability to one’s self and to each other.

SBI chief, three MDs asked to interview for bank's top job; signs point to Rajnish extension

While it would appear to be unprecedented for a chairman to be part of a panel to be interviewed for the position he already holds, it may, according to people familiar with the situation, send a message that the government prefers tried and tested hands in key positions instead of risking a new leader at a time when the financial system is facing unprecedented crises.