The unexpected interest rate hike by the RBI on Wednesday will have the banking system on average making a 10-15 bps gains on the yields, with private banks making larger gains as 57 per cent of their loans are linked to external benchmark rate and 40 per cent to the marginal cost of lending rates, as per a report. Stating that lenders and borrowers will face volatile times with the Reserve Bank raising the repo rate by 40 bps to 4.40 per cent and the cash reserve ratio (CRR) by 50 bps on May 4 in an off-cycle policy move, India Ratings said the market rates had already been moving higher before the move. The 364-day T-bills have moved up 120 bps and 10-year G-sec by 140 bps since May 2020, when the repo rate was cut to a record 4 per cent, which led to an expectation of a faster and sharper rise in interest rates in the system but the central bank stayed the course to support the fragile economy battered by the pandemic.
Alto, the Maruti brand synonymous with small cars, introduced the new generation K10 on Thursday, aiming to consolidate its position further amid shrinking demand for hatchbacks. With prices starting at Rs 399,000 and going up to Rs 533,500 (for manual transmission), the new model claims fuel efficiency of 24.90 km per litre. The Japanese car maker, which has been selling 100 Altos every hour for the last 22 years, had discontinued the model in February 2020.
The bodies of four Indians, who were among 22 people killed in the Tara Air plane crash in Nepal's mountainous Mustang district, were cremated on Thursday at the sacred Pashupatinath temple in Kathmandu.
Soumya Swaminathan called on governments to boost exercises on reporting actual numbers.
In our mystery the watchdog agencies are silent, but it is the market that has barked and has not stopped barking. Till such time as it continues to do so, this headache will not go away, notes Aakar Patel.
While Lupin is working on a Remdesivir powder for inhalation, Glenmark has tied up with a Canadian Biotech firm for nitric oxide nasal spray that reduces Sars-CoV-2 viral load and thus transmission.
Global rating agency Moody's on Monday said the high commodity prices and supply chain disruptions due to further escalation in the Russia-Ukraine crisis could expose about 42 per cent of rated Indian companies to significant risks. They are mainly in the oil and gas and automotive sectors. The impact may be seen under two scenarios: first, revised base line and second being downside economic scenarios incorporating a global recession and a more severe liquidity squeeze, it said. The military conflict between Russia and Ukraine is impacting companies in Asia Pacific, adding to existing challenges from supply chain disruption and the coronavirus pandemic.
"Usually viruses that jump to a new host species take some time to acquire adaptations to be as capable as SARS-CoV-2 at spreading, and most never make it past that stage, resulting in dead-end spillovers or localised outbreaks," said Sergei Pond, another co-author of the study from Temple University in the US.
The research, published in the Journal of Internal Medicine on Tuesday, describes how different sized respiratory droplets emitted while speaking have a range of sizes, and can carry different amounts of virus.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
The black box of the Yeti Airlines aircraft has been recovered from the accident site on Monday, as a search is on for the four persons still missing after the plane with 72 people, including five Indians, on board crashed into a river gorge while landing at Nepal's newly-opened airport in the resort city of Pokhara.
Bangladesh has sought revision of a 2017 power purchase agreement with Adani Power Ltd as the price for the coal-generated electricity appeared too expensive, officials said in Dhaka on Thursday. "We have communicated with the Indian company seeking revision of the agreement," an official of the state-run Bangladesh Power Development Board (BPDC) told PTI on the condition of anonymity and without elaborating on the matter. Media reports suggested that the "high coal price" to be purchased for the Adani plant at India's Jharkhand emerged as the key factor for the dispute.
Dr Fauci said that India needs to immediately build makeshift field hospitals like what China did a year ago.
The carmaker is set to redefine SUVs with the all-new Scorpio N. Rajesh Karkera offers a peak.
Long queues were seen outside walk-in vaccination centres across the UK on Monday as people queued for their booster vaccine doses, even as the government's work from home guidance came in force as part of measures to tackle the "tidal wave" of the Omicron variant of COVID-19.
In a tightening cycle, a premature pause in monetary policy action would be a costly policy error, Reserve Bank Governor Shaktikanta Das opined while voting along with five other members of the MPC for raising the key lending rate by 35 basis points earlier this month, according to the minutes of the meeting released on Wednesday. Prior to the December hike in repo rate, the RBI had raised the key short-term lending rate by 190 bps in four tranche.
He urged people not to panic and clarified that there was no change in the guidelines for international air travel so far.
The Omicron lineages have been named BA.4 and BA.5.
Moody's Investors Service on Wednesday raised the rating outlook for 18 Indian corporates and banks, including Reliance Industries, Infosys, SBI and Axis Bank, to 'stable' from 'negative'. This follows the upgrade by the US-based rating agency in India's sovereign rating outlook to 'stable' from 'negative' on Tuesday. The agency had affirmed the sovereign rating at 'Baa3'.
The researchers noted that people who are fully vaccinated can still become infected with SARS-CoV-2 and can carry a viral load similar to those who are unvaccinated.
Vaccine inequity remains an issue in India, where less than 2 per cent of the population has received a Covid booster
In its weekly report on the pandemic, the World Health Organisation said on Tuesday that the incidence of COVID-19 has increased globally, initially driven predominantly by transmission of the Delta variant, particularly in the European region.
Tata Motors on Monday said it has bagged an order for supply of 10,000 XPRES-T EV units from BluSmart Electric Mobility. The deployment of 10,000 units makes this the biggest ever EV fleet order in India, the auto major said in a statement. With deliveries starting soon, these vehicles are an addition to the 3,500 XPRES-T EV order, which was signed by both the companies in October last year, and will be used across the country for commuters, in turn helping minimise the carbon footprint.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
Coronaviruses, like other RNA viruses, can develop mutations in three different ways: by mistake from copying errors during viral replication, through interactions with other viruses infecting the same cell, or they can be induced by RNA modification systems which are part of host immunity, the researchers explained.
The two sides also inked four pacts to expand cooperation in areas of railways and energy.
The Delta variant of COVID-19, or the B1.617.2 variant of concern (VOC) first identified in India, is about 60 per cent more transmissible than the Alpha strain identified in the United Kingdom and also reduces the effectiveness of vaccines to some extent, UK health experts report.
Mahatransco (Maharashtra State Electricity Transmission Company Limited - MSETCL) Chairman and Managing Director Dinesh Waghmare said Tata Power's plants took time to start generating electricity following the grid collapse on Monday morning, resulting in the specially created 'islanding' system not working.
'Most vaccines do target the Spike protein, in which there are changes in the variants but vaccines stimulate our immune system to produce a wide range of protective antibodies'
At the same, it said the latest figures do not establish a clear trend and in no way the government is relaxed about anything at this point.
In the QKD technology, encryption keys are sent as qubits in a fibre optic cable. Quantum computing uses qubits as basic resources, similar to how bits are used as basic resources in classical computing.
US President Joe Biden has tested positive for Covid-19 and is experiencing "very mild symptoms", the White House said on Thursday, becoming the second sitting American president to be hit by the virus.
Like the UK variant identified earlier, the new variant of the novel coronavirus is also driving a massive resurgence of the disease in South Africa, with experts warning the country is probably facing a much larger second wave.
The endemic stage is when a population learns to live with a virus.
A new user-friendly app to control the beast. Automatic transmission with petrol engine. Electronic sunroof. Plus, of course, the safety elements. Rajesh Karkera/Rediff.com on what makes the new XUV300 special.
Twitter "took extraordinary steps to suppress" The New York Post's Hunter Biden laptop story, removing links and posting warnings that it may be "unsafe."
What's different this time is that global financial stress -- which has its genesis in four policy choices made in recent years -- is juxtaposed with a more resilient real economy, observes Sajjid Z Chinoy, chief India economist at J P Morgan.
Physical distancing of two metres - about six and a half feet - may not be enough to sufficiently prevent transmission of virus-carrying airborne aerosols indoors, says a study.
Amid a political furore over a meltdown in the Adani group shares, stock market data shows it is not only the plunge now but the sharp surge of the past also drew regulatory attention and enhanced surveillance. Adani group stocks have taken a huge beating on the bourses, losing billions of dollars in market value, after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The Adani group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.
Every M&M car shares a certain DNA which is rugged, with an off-roading quality and built for hard wear and tear. The XUV is all those, but also has a smoother edge for those who want city comfort now offered in competitor vehicles such as the MG Hector, Hyundai Creta, Volkswagen Tiguan and Tata's Harrier, says Pavan Lall.
