The RBI under former governor Shaktikanta Das resisted pressures to cut interest rates through 2024 as it kept its 'Arjuna's eye' trained on inflation, but the central bank under a new detail-oriented head will soon have to take a call if it can continue sacrificing growth. Das, a career bureaucrat who in 2016 oversaw Prime Minister Narendra Modi's highly disruptive demonetisation move, left a lasting legacy as he demitted office towards the end of 2024 after expertly navigating monetary policy for six years, the highlight of which was steering India's recovery through the pandemic.
Stock market investments are always said to involve risks and people who made big fortunes often made headlines as scamsters, leading to Dalal Street always being looked at with suspicion, but Rakesh Jhunjhunwala was broadly an exception. Jhunjhunwala, a partner at RARE Enterprises, who rose to amass a $5.8 billion fortune and earn the tag of the country's biggest individual investor, leaves behind a relatively cleaner slate, as was seen in the most common description for him -- 'India's own Warren Buffett'. Unlike names like Harshad Mehta and Ketan Parekh, whose rise in fortunes in post-liberalised India was tainted with scam links, the newest 'Big Bull' in the more-regulated market had lesser baggage on this front.
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
After five weeks of lockdown, migrant workers' patience ran out and so did the money, which forced them to leave Mumbai on bicycles.
Denizens of the fast-paced financial capital, who value their time over everything else, came out to protest against the controversial legislation.
'There were no airhostesses and stewards to bring us food, water and the news of when the journey would resume.'
A first person account of the train-walk-bike-taxi journey on Wednesday to the office, which is usually covered in an hour, took five-long but enlightening hours, as the city observed a bandh called against violence on the anniversary of a battle fought 200 years ago.
The place of work turned into place of stay or a dormitory for the office goers and almost all the offices, especially those of state-run institutions that dominate the south Mumbai area, hosted employees for the night.
Prime Minister Narendra Modi also thanked Brazilian President Michel Temer for "understanding India's aspiration" for membership of the Nuclear Suppliers Group.
The strong temblor that shook Nepal and parts of northern and eastern India on Tuesday brought back chilling memories of the April 25 earthquake for 47-year-old mountaineer Lipika Biswas who was at the Everest Base Camp when it had hit the Himalayan country.
The Finance Ministry is considering a proposal to rope in professionals from the private sector for appointment of chairman and CEO-cum-managing director in state-owned financial institutions as it looks for talent from a wider pool of applicants.
Prime Minister Narendra Modi on Wednesday said he has asked soft drink makers like Pepsi to try and mix aerated drinks with 5 per cent fruit juice to help distressed farmers find a new market for their produce.
The announcement of candidature of Bharatiya Janata Party general secretary Gopinath Munde's daughter Pankaja along with that of cousin Poonam Mahajan has met with severe criticism that BJP too is going the Congress way in following dynastic politics. However, the flak is the last thing on Pankaja's mind as she goes about campaigning for the October 13 Assembly poll from this constituency in Marathwada's hinterland.
It was a huge earthquake which put this nondescript town in Marathwada region on the news map. Sixteen years later, Latur is again in the news as it will decide the political fortune of Amit Deshmukh, son of Union Heavy Industries Minister Vilasrao Deshmukh, in the October 13 Maharashtra assembly elections. Amit, Congress candidate from Latur (urban) constituency, is locked in a quadrangular contest.
Thackeray's remarks that only the Sena pattern -- and not Modi -- will work in Maharashtra, is being viewed as a reminder to top state BJP leaders who want to replicate the 'Modi effect' in the state. Sena is the senior partner in the over two-decade old saffron alliance, which has seen a lot of turbulence after the killing of Pramod Mahajan, the main architect of the alliance.
LSG Sky Chefs is the sole independent international airline caterer in India and has a presence at the old airports of Hyderabad and Bangalore. It is building facilities at Hyderabad and Bangalore to replace the existing ones.
After its decision to back Patil evoked allegations of betrayal from BJP, the Sena has gone on the offensive, saying 'nobody need teach us Hindutva'.
The July 11 blasts as also the September 8 Malegaon explosions highlighted the continued threat of terrorism in the state.
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