The Reserve Bank has told the International Monetary Fund (IMF) that the objective of frequent interventions in the forex market is to curb excessive volatility, dismissing the Fund's rationale for reclassifying India's exchange rate regime. The IMF, following the Article IV consultation with the Indian authorities, reclassified the status of the exchange rate regime to "stabilised arrangement" from "floating" for period between December 2022 to October 2023. India's Executive Director at IMF K V Subramanian and Senior Advisors Sanjay Kumar Hansda and Anand Singh questioned the selection period adopted by the Fund for analysis and also reclassification of the country's exchange rate regime.
Proxy advisory firm IiAS has recommended that institutional investors should vote against the appointment of Anant Ambani on Reliance Industries Ltd's (RIL's) board, citing his age as the reason. The firm has, however, given its green light to the appointment of Anant's elder siblings - Akash and Isha. In its recommendation note, IiAS said, "At 28 years of age, his appointment as a non-executive, non-independent director does not align with our voting guidelines."
Department of Economic Affairs secretary Atanu Chakraborty said that equity capital flows have been positive this year.
The Central Bureau of India on Thursday handed over a file pertaining to the lock-in period relating to 2G spectrum allocation to Janata Party Chief Subramanian Swamy following a court order.
Bharatiya Janata Party MP Subramanian Swamy's complaint about alleged breakdown of governance in Delhi has been forwarded to the home ministry by the President's secretariat.
Swamy on Wednesday extended support to his party MP Yogi Adityanath, who accused Mother Teresa of being part of a 'conspiracy to Christianise India', saying the views are not isolated, as there have been books published in this regard.
"I am an economist. He is a lawyer. How can he be better than me," Swamy, whose antagonism for Jaitley is open, said at an event in New Delhi on Saturday.
Five Indian-origin women executives have made it to Barron's prestigious annual '100 Most Influential Women in US Finance' list for achieving positions of prominence in the financial services industry and helping shape its future. Barron's is a sister publication of the Wall Street Journal, published by Dow Jones and Company. "The list honours established and emerging leaders in financial services, the corporate world, nonprofit organisations, and government," the magazine said in a press release.
These include Chennai-based Advantage Strategic Consulting Private Ltd and its offshore sister concern.
The Supreme Court on Tuesday dismissed the contempt plea of Bharatiya Janata Party leader Subramanian Swamy against Chennai-based Advantage Strategic Consulting Private Ltd and another firm for filing a defamation suit in Singapore against him.
74 of these fatalities were reported by 8 companies: Coal India (21), L&T (14), Vedanta (13, of which Hindustan Zinc reported 7), Tata Steel (7), Power Grid Corporation of India (7), JSW Steel (6), and ONGC (6).
A number of persons fainted after experiencing 'burning sensation' in their throat and chest. Many people who were asleep woke up in panic and scurried out of their homes and alerted neighbours and all of them soon reached the main roads unsure of what to do.
'Being financially independent is crucial.' 'This spares women a lot of grief if the marriage, especially in large business families, breaks down.'
Minority investors of SpiceJet might be feeling cold-shouldered.
People are availing far more of certain kinds of unsecured loans than was the case before the pandemic. Bank lending for buying consumer durables and funding of credit cards and other personal loans have risen by Rs 6.9 trillion between August 2019 and August 2023, shows a Business Standard analysis of data from the Reserve Bank of India (RBI). These loans are typically unsecured, which means they are provided without collateral.
'China will continue to play Pakistan against India to achieve complete superiority. But China at best is a regional power, we must not exaggerate its capabilities,' says nuclear analyst Dr R R Subramanian.
A careful reading of the national income accounts suggests that after a strong recovery from the pandemic, there has been a significant ebbing of dynamism over the last three quarters to more modest levels recently, note Arvind Subramanian and Josh Felman.
Sindhu, Lakshya win openers; Sai Praneeth loses in US Open
At least 10 Indian-Americans, almost all of them Democrats, have won local and state level elections held in several parts of the country, reflecting the growing political empowerment of the ethnic community that constitutes a little over one percent of the United States' population.
The government is "extremely disappointed" with the latest report of the Moody's rating agency on India's economic outlook. The report, a senior government official said, was highly contradictory and called the rating agency's credibility into question. Referring to the Moody's statement that "India's fiscal strength remains a key weakness in the sovereign credit profile...", the official remarked: "How can my strength be my weakness? Moreover, they are unwilling to have a like-to-like comparison with India."
The mysterious Himalayan 'yogi' who allegedly advised Chitra Ramkrishna, former managing director and chief executive officer of the National Stock Exchange (NSE), on important matters of the bourse could be none other than Anand Subramanian, according to a letter written by former NSE chairman Ashok Chawla to the Securities and Exchange Board of India (Sebi). Subramanian was group operating officer of the NSE and advisor to Ramkrishna during 2015-16. He joined as chief strategic advisor in April 2013.
A Bharatiya Janata Party worker was booked on Friday for allegedly picking up a quarrel with a hijab-clad woman doctor over not wearing the white coat at a primary health centre in Nagapattinam district of Tamil Nadu, the police said.
What should be made out of the Madras high court order involving non-Hindus' entry into Hindu temples, when many non-Hindus are among the hundreds of thousands that have been worshipping at these temples for generations, asks N Sathiya Moorthy.
Former NSE managing director (MD) and chief executive officer (CEO) Chitra Ramkrishna and group operating officer and her advisor Anand Subramanian ran a 'money-making scheme' during their stint at the National Stock Exchange (NSE), markets regulator Securities and Exchange Board of India (Sebi) has alleged. The order passed by Sebi dated February 11 highlights frequent increase in the compensation package of without proper appraisal, documentation or file notings, and the involvement of the human resource (HR) head or the nomination and remuneration committee. Furthermore, the order talks about Subramanian being directed to "withdraw and surrender" to the unknown person a gross amount per month as "gratitude".
Notwithstanding record revenues in certain media sectors like film exhibition in the July-September quarter (second quarter, or Q2), the operational performance of the broadcasting business remained subdued. Zee Entertainment Enterprises and Sun TV are expected to experience a year-on-year (Y-o-Y) decline in advertising (ad) revenues during this period. Conversely, box office (BO) collections are anticipated to exceed Rs 3,000 crore in the quarter, propelled by a series of successful movie releases.
Heavy rains continued to pound Chennai and nearby districts on Monday under the impact of a cyclonic storm, which is likely to cross the coast in Andhra Pradesh on December 5.
'In the long run, I don't foresee major ramifications [about Trudeau's allegations].' 'There's just enough hypocrisy among Western nations for India to douse the outrage.'
The Enforcement Directorate has recently recorded the statement of former NSE managing director and chief executive officer Chitra Ramkrishna, lodged inside Delhi's Tihar jail, as part of a money laundering investigation against her and others, officials said Tuesday. The proceedings for recording the statement were conducted on two occasions inside the jail. The statement has been recorded under the criminal sections of the Prevention of Money Laundering Act (PMLA), they said. Ramkrishna is lodged in the Tihar jail after she was arrested by the Central Bureau of Investigation (CBI) on March 6 in the alleged National Stock Exchange (NSE) co-location scam case and investigation linked to other governance irregularities at the bourse.
Ramkrishna gave 'frequent, arbitrary and disproportionate' increase in compensation to Subramanian when there was no evidence of any performance evaluation being done for him and nor was there any evidence to satisfy the rating of A+ given to him for giving such high increment.
The agency recorded his statement under criminal sections of the Prevention of Money Laundering Act (PMLA), officials said.
The Indian economy will grow at around 6.5 per cent in the current fiscal, notwithstanding high crude oil prices and increased uncertainty due climate changes, NITI Aayog member Arvind Virmani said on Thursday. Virmani also asserted that the gross household savings ratio in India has consistently gone up. In an interview with PTI, he said: "My growth projection (of India's GDP growth) is 6.5 per cent plus minus 0.5 per cent... because my experience is that the fluctuations in global GDP more or less has balanced out for us, assuming normal changes."
The new Chief Economic Advisor Krishnamurthy Subramanian believes that more than unemployment, it is the quality of employment which needs to be focused on. In an interview with Arup Roychoudhury and Indivjal Dhasmana, Subramanian said that controlling inflation was the Modi government's biggest achievement.
Ramkrishna is in the news after a recent Sebi order said she was steered by a yogi, dwelling in the Himalayan ranges, in the appointment of Anand Subramanian as the exchange's group operating officer and advisor to the managing director (MD).
Following a gap of several months, global brands like Walmart have started lifting orders from Tiruppur's garment makers, leading to growth in knitwear exports in January after five months. Knitwear exports from Tiruppur increased 1.5 per cent in dollar terms and 11.6 per cent in rupee terms in January. According to the Tiruppur Exporters' Association (TEA), global majors have started placing more orders from the region.
Make In India and the reduction in barriers of trade will potentially create a growth environment.
'This segment has performed very well for us and this is reflected in our bounce rate which is about three to four per cent.'
Maybe, the need for secrecy may have tied the government's hand from sharing details in Parliament. Still, it should consider the need of sharing the utmost within any consultative committee, so that relative secrecy is still maintained. But such a course should involve the prime minister or home minister, as it is much more serious than is being made out to be, argues N Sathiya Moorthy.
'It is far too early to celebrate the numbers.' 'They are still fairly weak compared to the pre-pandemic level.'
Rahul Gandhi was disqualified as an MP following his conviction and two-year sentence by a Gujarat court in a defamation case over his Modi surname remark.
The Supreme Court on Tuesday granted time till October 31 to the Centre to file its response to a batch of pleas challenging certain provisions of a 1991 law that prohibits filing of a lawsuit to reclaim a place of worship or seek a change in its character from what prevailed on August 15, 1947.
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