'Higher inflows into these securities should lead to lower borrowing costs for the government.'
US nominee for World Bank president, Ajay Banga, has tested positive for COVID-19 following which the meetings scheduled during his two-day visit to India have been cancelled. According to a Finance Ministry statement, Banga's meeting with Nirmala Sitharaman would not happen as he is in quarantine. "During routine testing, Ajay Banga tested positive for COVID-19 but remains asymptomatic.
The Lok Sabha on Wednesday passed three bills to replace the colonial-era criminal laws by voice vote.
It is expected that FBI chief Wray will hold talks with senior Indian security officials.
Gold is an excellent asset class for diversification and should be included in all long-term portfolios.
Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
Meanwhile, US President Joe Biden condemned Russia's annexation of Ukrainian territory on Friday.
The contribution from asset management companies (AMCs) has surpassed the Rs 3,000 crore target for the creation of a Rs 33,000 crore backstop facility for debt mutual funds (MFs). The initial corpus for the Corporate Debt Market Development Fund (CDMDF) is nearly Rs 3,100 crore, according to multiple government officials and AMC executives. "The fund is operational now. "The required corpus has been raised by AMCs and the remaining part (Rs 30,000 crore) is in the form of a guarantee from the government which will be activated only in case of a credit event," explained D P Singh, joint CEO and deputy MD, SBI MF.
Maharashtra Deputy Chief Minister Ajit Pawar said on Friday that he would first speak with Nawab Malik to understand the former minister's position about his political affiliation before explaining his Nationalist Congress Party group's stand on the matter.
Parliament officials said Birla was upset at the behaviour of both the Opposition and Treasury benches during the passage of bills in the Lok Sabha on Tuesday.
Hafiz Abdul Salam Bhuttavi, an United Nations-designated terrorist who trained the Lashkar-e-Taiba (LeT) attackers for the 2008 Mumbai terror attack and acted as the outfit's chief on at least two occasions, died in a prison in Pakistan's Punjab province while serving a sentence for terror financing, his aide said on Wednesday.
The no-confidence motion was defeated by voice vote in the state assembly shortly after 1 am following a 13-hour debate.
Banks submitted bids amounting to Rs 4.75 trillion, around 2.5 times of the notified amount of Rs 1.75 trillion, at the Variable Rate Reverse Repo (VRR) auction conducted by the Reserve Bank of India (RBI) on December 22, a day after the liquidity deficit in the banking system widened to Rs 2.5 trillion. In the most recent VRR auction held by the RBI on December 15, bids totaling 2.7 times the notified amount were received. Banks secured Rs 1 trillion at a weighted average rate of 6.63 per cent.
The Congress has appointed observers to coordinate meetings of its legislature party in four states where assembly election results will be declared on Sunday.
In his letter to Sitharaman, Venugopal said media reports have exposed the alleged "quid-pro-quo between BJP and several firms, which in a strange coincidence donated to it, after the Enforcement Directorate (ED), Income Tax Department (IT) and Central Bureau of Investigation (CBI) and others, raided or searched those enterprises".
Attacking Arvind Kejriwal over his announcement of 50 per cent reduction in power tariff up to 400 units, the Bharatiya Janata Party leader Harsh Vardhan today said Kejriwal was indulging in "populism" and the decisions would be implemented at the cost of Aam Admi's welfare projects.
Anna Hazare's fast demanding a strong Lokpal entered the fifth day on Saturday with his Team saying they were ready to talk to the government but no such communication channels have been opened.
Hindustani Awam Morcha chief Jitan Ram Manjhi on Friday alleged that "poisonous substances" were being mixed into the food served to Bihar Chief Minister Nitish Kumar, by those "coveting his chair".
"I want to send you my good wishes that you prepare so much that you get a chance to bring a no-confidence again in 2023," he had said while replying in Lok Sabha to the no-confidence motion in 2019, ahead of the general elections.
The UK government announced on Monday that it has facilitated London-based banking major HSBC to buy the embattled UK arm of Silicon Valley Bank for 1 pound, securing the deposits of more than 3,000 customers worth around 6.7 billion pounds. Santa Clara, California-based Silicon Valley Bank - which specialised in lending to technology companies - was shut down by US regulators on Friday in what was the largest failure of a US bank since 2008. According to experts, although the UK arm of SVB was small with only around 3,000 business customers, its collapse would have presented a risk for the tech sector which is seen as crucial to Britain's economic growth.
When the Chair asked Chowdhury to raise a point of order, Goyal stood up and said that he would not allow the Congress leader to speak in protest against the disruption of the external affairs minister's statement earlier in the day on India's foreign engagements since the Budget session.
In a blistering attack against the BJP over the violence in Manipur, Congress leader Rahul Gandhi on Wednesday alleged that its politics had "murdered Bharat Mata" in the northeastern state and termed members of the ruling party "traitors".
Foreign Portfolio Investors (FPIs) selling spree continued as they dumped Indian equity worth over Rs 5,800 crore this month so far on rising interest rates and geopolitical tensions in the Middle East. This came after such investors withdrew Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
The Upper House was earlier adjourned twice in the afternoon session when it took up the discussion on the Budget after Prime Minister Narendra Modi finished his speech on the motion of thanks on the President's address and the motion was passed.
Some doctors were absent from duty for 20 years, others for 15, some for 12. About 64 doctors remained absent from duty for more than five years.
In his letter to Ajit Pawar, who too is a deputy CM, Fadnavis said Malik has the right to attend the assembly as an MLA and added that "we (the BJP) do not harbour any personal animosity or grudge" against him.
Opinions vary, but fund managers remain bullish.
Finance Minister Nirmala Sitharaman's Budget speech on Wednesday was marked by the usual thumping of benches by the ruling alliance members, but the loudest cheer was reserved for her announcement of income tax relief, which was welcomed by 'Modi, Modi' chants in Lok Sabha that also witnessed a few instances of protest by the Opposition.
Ahead of the Parliament session, the government will hold a meeting with leaders of all parties on Sunday to brief them and hear their views, amid an intense buzz on whether it will have some surprise item up its sleeve during the five-day sitting.
The last minute decision of the Congress to withdraw Rahul Gandhi's name as the lead speaker on the no-confidence motion in the Lok Sabha led to heated exchanges between the opposition and treasury benches on Tuesday.
The Indian rupee, which has depreciated 1.1 per cent so far in August, is expected to decline further on the back of a strengthening US dollar and a weakening Chinese yuan, according to a Business Standard poll of analysts. The Indian rupee hit an all-time low recently, closing at 83.15 per dollar. Five of the 10 respondents said the Indian currency might touch 83.5 per dollar in August itself, while others said the worst could be over.
The Securities and Exchange Board of India (Sebi) might relax the disclosure norms around rumour verification to help smooth implementation and ease compliance amid pushback from India Inc, said people in the know. The rule has been notified following amendments to the Listing Obligations and Disclosure Requirements (LODR) by Sebi. However, its implementation has been deferred until February.
Foreign Portfolio Investors' (FPIs) selling spree continues as they pulled out over Rs 3,400 crore from the Indian equity markets in the first three trading sessions of November on rising interest rates and geopolitical tensions in the Middle East. This came after such investors withdrew Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
He said the prime minister has received global recognition and India was rising under his leadership.
In the chair was Defence Minister Rajnath Singh, a Bharatiya Janata Party leader of the old school with friends across parties unlike the duo who currently run the BJP.
Congress president and Leader of Opposition in Rajya Sabha Mallikarjun Kharge on Wednesday claimed he was 'insulted' as his mic was turned off while he was speaking in the House the previous day.
Ruling and opposition members in Rajya Sabha on Tuesday sparred over 'foul' remarks made by Congress president Mallikarjun Kharge in Rajasthan's Alwar, with treasury bench members seeking an apology from him.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
Prime Minister Narendra Modi on Monday expressed confidence that the NDA will get more than 400 seats and the BJP will win at least 370 seats in the Lok Sabha elections.
When he didn't respond (Mr Saver has lost count of how many relationship managers he has had in the past few years!), the gentleman landed up at his doorstep and started pleading with him to open fixed deposits with the bank, observes Tamal Bandyopadhyay.
