Beijing blocked the proposal that had been moved by the US and co-designated by India to blacklist Mir under the 1267 Al Qaeda Sanctions Committee of the UN Security Council as a global terrorist and subject him to assets freeze, travel ban and arms embargo.
The unusual timing of the session has left everyone wondering, even though the main standout feature on the listed agenda is a special discussion on Parliament's journey of 75 years starting from the "Samvidhan Sabha" (Constituent Assembly).
Sparks flew on the first day of the debate on the no-trust motion moved by the Congress with the Opposition on Tuesday asserting that it was forced to do so to break Prime Minister Narendra Modi's 'maun vrat' (vow of silence) on Manipur and the treasury benches hitting back saying it was a no-trust vote against a 'poor person's son' who has worked for the welfare of the people.
He is among several leaders of Indian heritage who have ascended to the highest echelon of public service globally.
If the banks throw caution to the winds for building loan books, the hydra-headed bad loans may resurface and spoil the party, warns Tamal Bandyopadhyay.
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
The opposition parties had till now been calling for a debate under Rule 267, which entails voting, and a statement by Prime Minister Narendra Modi.
'If the business before the House is suspended under Rule 267 it will mean the government has recognised that there is great urgency (to discuss the Manipur violence).' 'Government doesn't want to recognise that at all.'
The collapse of Silvergate Bank, Silicon Valley Bank (SVB) and Signature Bank in the US might create temporary liquidity issues but will not have any significant impact on the Indian crypto market in the long run, officials from several exchanges told Business Standard. All three banks are considered crypto-friendly. SVB offered services such as cryptocurrency custody and lending.
The rupee depreciated 31 paise to an all-time low of 80.15 against the US dollar in early trade on Monday tracking the strength of the American currency and firm crude oil prices. At the interbank foreign exchange, the rupee opened at 80.10 against the dollar, then lost ground to quote at 80.15, registering a fall of 31 paise from the last close. On Friday, the rupee closed at 79.84 against the dollar.
The opposition parties are seeking the President's intervention in the matter, claiming that violence in the BJP-ruled northeastern state is continuing unabated.
Religion matters. Aspirational India is still poor. India admires strong leaders. India values decency. Shreekant Sambrani highlights the reasons why the BJP pulled off improbable victories in the Hindi heartland.
Weeks before Canada made an explosive allegation implicating Indian officials in the killing of Sikh separatist leader Hardeep Singh Nijjar, Canadian officials sought public condemnation of the murder from their allies, including the United States, but were met with reluctance, The Washington Post reported.
Jio Financial Services, a unit of Mukesh Ambani's Reliance Industries (RIL), got valued at Rs 1.66 trillion ($20 billion) following an hour-long special trading session conducted by stock exchanges on Thursday. Shares of RIL's unit got priced at Rs 261.85 apiece - higher than analysts' expectations of Rs 134-224 per share. The price was arrived at after calculating the difference between RIL's Wednesday (July 19) close of Rs 2,840 and Rs 2,580, the price discovered during the first-of-its-kind pre-trade session.
'It has been an ongoing process, talking to the relevant ministries about eliminating leakages and curbing non-core expenditure in various schemes.'
One fallout of Rahul Gandhi's disqualification will be reflected in the Opposition's role in Parliament and related institutions.
Union Home Minister Amit Shah on Friday said the current logjam in Parliament could end if the Opposition and the government sit for a discussion and both move two steps forward.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
Rajya Sabha was adjourned for the day on Friday amid an uproar in the House over the issue of law and order situation in Rajasthan.
The government on Tuesday introduced a constitutional amendment bill reserving 33 per cent seats for women in the Lok Sabha and state assemblies, reviving a proposal pending for years and blending history, politics and societal imperatives on the first day in the new Parliament building.
The Question Hour in Lok Sabha has been disrupted every day since March 13.
State Bank of India was the biggest loser in the Sensex pack, shedding 1.69 per cent, followed by Asian Paints, Kotak Mahindra Bank, HCL Technologies, Reliance Industries, Wipro, IndusInd Bank, Infosys, Power Grid and HDFC twins. In contrast, Nestle, Maruti, Bharti Airtel, Tata Motors, ITC and Hindustan Unilever were among the gainers.
The Nifty IT Index, the gauge for the performance of information technology (IT) stocks, was the worst performer on the stock exchanges on July 29, a day after Infosys posted lower-than-expected earnings growth for the June quarter and sharply cut its revenue growth guidance for 2023-24 (FY24). The IT index was down 4.1 per cent, its biggest one-day fall in three months. The decline was led by Infosys, with its shares plunging nearly 8 per cent, followed by HCLTech (-3.2 per cent), Wipro (-3.0 per cent), and TCS (-2.7 per cent).
Trinamool Congress MP Mahua Moitra on Thursday came out in support of Congress president Sonia Gandhi, who was involved in a face-off with Union minister Smriti Irani in the Lok Sabha, and said the 75-year-old leader was 'encircled and heckled pack-wolf style'.
"Lalu Prasad has been sentenced to 5 years imprisonment while a penalty of Rs 60 lakh has also been imposed on him. Apart from Prasad, five years imprisonment each was announced by the Court for five convicts, four years each for 32 convicts and three years each for three convicts," CBI counsel B M P Singh told PTI.
State Bank of India's earnings growth may turn lacklustre in the near-term, warn analysts. This, they said, could be due to margin compression and likely lower fee income over the next one year. "While the cost of deposits is repricing sharply across the system, there will be relatively lower yield expansion going ahead as most of the back-book has been repriced and there is a high competitive pressure on yields.
Modi slammed the Indian National Developmental Inclusive Alliance (INDIA) as the most directionless the country has ever seen and cited reviled names, such as East India Company and Indian Mujahideen, to assert that people cannot be misled merely by the use of the country's name.
The rupee depreciated 44 paise and slipped below the 81-mark against the US dollar for the first time in early trade on Friday, weighed down by the strong american currency and risk-off sentiment among investors. Forex traders said escalation of geopolitical risk in Ukraine and rate hikes by the US Fed and Bank of England in a bid to contain inflation sapped risk appetite. Further, the strength of the American currency in the overseas market, a negative trend in domestic equities, and risk-off moods amid escalation of geopolitical risk in Ukraine weighed on the local unit.
As the lower house took up the motion moved by Gogoi, there were heated exchanges between the opposition and treasury benches after Parliamentary Affairs Minister Pralhad Joshi wondered why Rahul Gandhi's name as lead speaker was withdrawn at the last minute.
The government is set to earn an equity dividend of nearly Rs 13,800 crore from the listed public-sector banks (PSBs), all 12 of them, for FY23, up 50 per cent from Rs 9,210 crore in FY22. This will be the highest ever dividend for the government from PSBs. The 12 PSBs in our sample are paying an equity dividend of nearly Rs 21,000 crore for FY23, up 53 per cent from Rs 13,710 crore for FY22.
Brokerages have lowered the price targets of asset management companies (AMCs) since they failed to beat revenue growth expectations in the January-March quarter (fourth quarter, or Q4) of 2022-23 (FY23). The regulator's plans to lower the fee charged by AMCs also added to concerns. While HDFC AMC and Nippon Life India AMC reported modest growth in revenue from operations in Q4FY23, UTI AMC and Aditya Birla Sun Life AMC delivered yet another weak quarter.
Private sector banks reported a robust profile with healthy growth in net interest income (NII), credit offtake and reduction in provision burden for the fourth quarter ended March 2023 (Q4 of FY23). However, as a pack, their net profit declined by 9.7 per cent year-on-year (YoY) at Rs 25,317 crore in Q4. This is because Axis Bank posted losses due to its one-time hefty charge for the acquisition of Citibank India's consumer business.
It is learnt that China placed a hold on the proposal by India and the US to designate Mahmood as a global terrorist under the 1267 Al Qaeda Sanctions Committee of the UN Security Council.
In a historic transition, the Parliament moved into a swanky new complex on Tuesday, with Prime Minister Narendra Modi urging MPs to forget all past bitterness and start a new chapter and the introduction of the women's reservation bill taking centre stage.
Thanks to a big payout by the group's cash cow, Tata Consultancy Services (TCS), Tata Sons is set to earn a record-high equity dividend worth nearly Rs 33,350 crore from the group's listed companies for FY23, up 130 per cent from Rs 14,529 crore in FY22. Nearly 90 per cent of this, or around Rs 30,500 crore, is estimated to accrue to Tata Sons while the rest will show up in its profit & loss account for FY24. This is because nearly 80 per cent of the dividend payout by TCS for FY23 was done before the end of the financial year through three quarterly interim instalments and a special one in January this year.
The Congress leader's remarks had drawn a sharp response from the treasury benches, with Law Minister Kiren Rijiju asking him not to level "wild allegations" and to furnish proof of his claims.
India and the US on Thursday said they are looking forward to the reconvening of the India-US Trade Policy Forum later this year to further enhance trade relationship and identify new areas for engagement.
Equity investors became poorer by Rs 7.48 lakh crore in five consecutive days of market fall, where the BSE Sensex has declined by nearly 3 per cent. In the past five days, the BSE Sensex has tumbled 1,713.71 points or 2.79 per cent. This has led to an erosion of Rs 7,48,887.04 crore from the market capitalisation of BSE-listed firms in five trading sessions.
During the day-long debate, the lines between science and religion often got blurred with many invoking religious texts and the contribution of 'rishi munis' to highlight India's tryst with the extra-terrestrial world.
Opposition parties, including the Congress, Trinamool Congress, Bharat Rashtra Party and Samajwadi Party, came together in a show of unity on Thursday and accused the Modi government of getting the second half of the budget session washed out, while asserting that if this attitude continues, the country will move towards a "dictatorship".
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