Prime Minister Modi gave President Biden the unique sandalwood box sourced from Mysore with intricately carved flora and fauna patterns and handcrafted by a master craftsman from Jaipur during an intimate dinner at the White House on Wednesday.
Reserve Bank Governor Shaktikanta Das on Monday said despite the latest headwinds arising from the Jackson Hole summit leading to extreme volatility, our banking system and financial markets are strong enough to withstand such pressures. Taking the markets by surprise, US Fed chair Jerome Powell had told the annual Jackson Hole summit of central bankers and economists last week that he would have to keep raising federal fund rates to tame inflation, which remains the biggest challenge to the world's largest economy. He also warned of the pains that such monetary policy actions would create on growth and jobs.
The recent depreciation of the rupee along with sharp fall in the country's foreign exchange (FX) reserves has sparked a debate whether stability of the exchange rate is necessary and desirable. The rupee was one of the least volatile currencies among peers for almost two years before the current downward pressure started in September after the US Federal Reserve lowered interest rate.
The accused in the R G Kar Medical College and Hospital rape-murder case, Sanjay Roy, was brought to the Sealdah court on Monday. Kolkata Police, fearing he would make further controversial statements, kept blowing the horn of the vehicle carrying him, preventing journalists from hearing his voice. This comes after Roy made remarks against the former Kolkata police commissioner and claimed innocence during his previous court appearance. The trial, which is being heard in-camera on a day-to-day basis, continues with the testimony of three witnesses on Monday. The CBI is investigating the case following an order from the Calcutta High Court. The body of the on-duty doctor was discovered in the seminar room on August 9, sparking nationwide outrage and protests. Former principal Sandip Ghosh and former officer in-charge Abhijit Mondal, accused of tampering with evidence, had their judicial remand extended till December 2.
Credit card spending in September recorded strong growth of 25 per cent year-on-year (Y-o-Y), marking the highest increase in six months. Even as many banks saw higher slippages during the July-September quarter of 2024-25, spending growth exceeded 20 per cent for the first time since February. According to the latest data released by the Reserve Bank of India (RBI), September spending reached Rs 1.76 trillion, compared to Rs 1.42 trillion in the same period a year ago. In August 2024, credit card spending was Rs 1.68 trillion.
Wholesale price based inflation declined to a 3-month low of 1.89 per cent in November on cheaper food items, and experts predicted a 0.25 per cent interest rate cut by the RBI in the policy review in February. The Wholesale Price Index (WPI) based inflation was 2.36 per cent in October 2024. It was 0.39 per cent in November, last year. In August, 2024, it was 1.25 per cent.
India and China have held their first diplomatic talks since withdrawing troops from two face-off points in eastern Ladakh, reflecting on the lessons learned from the border row to prevent future incidents. The two sides agreed to maintain peace and tranquillity in border areas, prepare for the next meeting of Special Representatives on the boundary question, and highlighted the importance of regular exchanges and contacts at diplomatic and military levels. The talks come after the completion of the disengagement process from the last two friction points, following an agreement finalized in October 2022.
A key aide to Bangladesh's interim government has urged India to unequivocally recognize the July-August uprising that toppled Prime Minister Sheikh Hasina's regime, arguing that this is crucial for rebuilding bilateral ties. Mahfuj Alam, considered a de facto minister in the interim government, criticized India's portrayal of the uprising as militant, anti-Hindu, and an Islamist takeover, and called for a change in approach to understand the "new Bangladesh realities." He stated that bypassing the uprising would be detrimental to relations between the two countries. Alam, whose organization spearheaded the protests against Hasina's government, emphasized the democratic nature of the struggle, which he said was about a "generational and responsible struggle." His statement comes amid strained relations between Dhaka and Delhi, with India expressing concerns over the safety of Bangladesh's Hindu community.
When it comes to running between the wickets -- which is exactly what an FM and a governor do -- Jadeja always defers to Dhoni's larger judgement of the situation and the needs of the team, observes T C A Srinivasa-Raghavan.
The Bangladesh Cricket Board named a 16-member squad for the India tour, on Thursday.
Fast bowler Jayden Seales produced a record-breaking spell to put West Indies in command on Day 2 of the second Test against Bangladesh.
An explosive century from Sherfane Rutherford and a fifty from ever-consistent skipper Shai Hope were the highlights as West Indies cruised to a five-wicket win over Bangladesh
A fragrant, spiced yoghurt-cashew curry is the place for fillets of rohu.
Mikyle Louis and Alick Athanaze narrowly missed out on maiden centuries as the West Indies fought back from 25 for 2 to post 250 for 5 on Day 1 of the first Test against Bangladesh at Sir Vivian Richards Stadium, North Sound, Antigua, on Friday.
The government on Tuesday appointed three external members -- Ram Singh, Saugata Bhattacharya and Nagesh Kumar -- to the RBI's rate-setting Monetary Policy Committee for four years. The central government has reconstituted the Monetary Policy Committee (MPC) of RBI, the finance ministry said in a statement. Ram Singh is the director of the Delhi School of Economics, Saugata Bhattacharya is an economist, and Nagesh Kumar is the director and Chief Executive, Institute for Studies in Industrial Development, New Delhi.
The increasing involvement of Big Tech in the financial system could give rise to concentration risk and there are potential spillovers, which call for closer attention, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Tuesday. "...enormous amounts of consumer data is being generated and leveraged upon by a few entities (the so-called Big Tech) by virtue of their huge customer base. "Such developments raise concerns on concentration risk and potential spillovers as their level of engagement with the financial system strengthens in the years to come," Das said at the Global Fintech Fest 2022.
India all-rounder Hardik Pandya will not be available for the league stage matches of the Vijay Hazare Trophy because of personal reasons, but he will join Baroda if they progress to the knockouts.
Justice Dangre said that Ahmedabad, where the FIR against Das was registered, was not too far from Mumbai.
Fast bowler Nahid Rana claimed his maiden five-wicket haul as Bangladesh staged a great fightback to take control, on Day 3, of the second Test against West Indies.
Reserve Bank Governor Shaktikanta Das said on Monday that fair and impartial auditing is essential for a resilient economy as it instils confidence among citizens. Addressing officers at the National Academy of Audit and Accounts, Das said that audit is important for the country as public expenditure decisions are based on these reports. Observing that there is a need to improve the quality and depth of audit, he said the Reserve Bank has taken a host of steps in consultation with the Institute of Chartered Accountants of India (ICAI) for improving the audit of banks and financial institutions.
'Inflation is not good for industry. Nor for the economy as a whole.'
Prospects of a bumper kharif harvest are expected to lower food inflation in the coming months, making the country's inflation outlook benign, the Union Ministry of Finance (FinMin) said in its monthly economic report for October released on Monday.
Soaring vegetable prices pushed the retail inflation rate to a nine-month high of 5.49 pr cent in September, according to government data released on Monday. The consumer price index (CPI)-based retail inflation rate was 3.65 per cent in August and 5.02 per in September 2023. The previous high inflation rate was witnessed in December 2023 at 5.69 per cent.
President Droupadi Murmu on Saturday approved 139 Padma awards including seven Padma Vibhushans, 19 Padma Bhushans and 113 Padma Shris.
From the 30-share pack, Adani Port, Bharti Airtel, Asian Paints, IndusInd Bank, Bajaj Finserv, Reliance Industries, Infosys, UltraTech Cement, HDFC Bank, HCL Technologies and ICICI Bank were among the laggards. Tata Motors, Axis Bank, Maruti, Larsen & Toubro, ITC and Tata Steel were among the gainers.
Alzarri Joseph had Bangladesh reeling, but the tourists avoided the follow-on and trail the West Indies by 181 runs with one wicket left at stumps on Day 3 of the first Test at Sir Vivian Richards Stadium, North Sound, Antigua, on Sunday.
Maharashtra secured a resounding 439-run victory over Baroda in a Group A Ranji Trophy match, keeping defending champions Mumbai's hopes alive for the knockout stage.
Reserve Bank Governor Shaktikanta Das on Friday said 67 per cent of the decline in the foreign exchange reserves since April was due to valuation changes arising from strengthening US dollar and higher American bond yields. The forex reserves, which stood at $606.475 billion as on April 2, have declined to $537.5 billion as on September 23. It was also the eighth straight week when the reserves declined.
A summary of Friday's action in the Ranji Trophy matches across the country.
Even as the high inflation figure for October has ruled out any possibility of a rate cut by the Reserve Bank of India's (RBI's) monetary policy committee (MPC) in December, a rate cut in February also looks uncertain due to global uncertainties. Economists told Business Standard that unless domestic growth slows markedly, the outlook on rate cut remains unclear. India's headline inflation touched a 14-month high of 6.2 per cent in October, breaching the MPC's upper tolerance band of 6 per cent.
The West Indies are well-placed to win the first Test against Bangladesh. They needed only three wickets to complete the formalities at the end of the fourth day at Sir Vivian Richards Stadium, North Sound, Antigua.
Dr Nagesh Kumar, one of the three new MPC members, wanted the MPC to reduce the repo rate by 25 basis points to 6.25%.
India and China have agreed to take measures to further ease the situation at the borders while continuing to implement the October agreement to resolve the standoff in eastern Ladakh comprehensively. The two sides held the 32nd meeting of the Working Mechanism for Consultation & Coordination on China-India Border Affairs (WMCC) in New Delhi, agreeing to maintain communication through diplomatic and military channels and safeguard sustainable peace and stability in the border areas. This meeting follows the October 21 agreement between the two countries to resolve the over four-year-long military standoff in eastern Ladakh.
After hiking the repo rate by 0.50 per cent, RBI Governor Shaktikanta Das on Wednesday said future policy actions by the central bank will be guided by the evolving conditions. Addressing a press conference, the governor said the RBI has changed the policy stance to drop the phrase "remains accommodative", and instead opted for "withdrawal of accommodation" for guiding its future moves. The central bank did not hike the cash reserve ratio contrary to speculation, he said, adding that the liquidity withdrawal will be calibrated and measured.
The 24-year-old Hima was last year provisionally suspended by the National Anti-Doping Agency (NADA) for three whereabout failures in a span of 12 months. She was, however, cleared by the Anti-Doping Disciplinary Panel (ADDP) following a hearing in March.
India's sprinter Hima Das, who is making a comeback from a hamstring injury, on Wednesday revealed that she has tested positive for COVID-19 but is stable in isolation.
While India are on top of the World Test Championship (WTC) table, the Bangladesh skipper believed that it will all boil down to how they perform during those five days and result can come even in the last session.
Shyam Benegal, the shining beacon of the Indian cinema, was laid to rest on Tuesday around 3 pm with full state honours and a three-gun salute at Shivaji Park, central Mumbai.
Nearly 13.04 per cent voter turnout was recorded till 9 am on Wednesday in 43 assembly constituencies in Jharkhand where voting is underway in the first phase, officials said.
'Along with Blackstone, we would be keen to look at opportunities in the North.'
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