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The government will borrow Rs 5.03 lakh crore in the second half of the current fiscal to fund the revenue gap for reviving the pandemic-hit economy, the finance ministry said on Monday. During the first half, the government has raised Rs 7.02 lakh crore by issuing bonds, the ministry said in a statement. "Out of gross market borrowing of Rs 12.05 lakh crore projected for FY 2021-22 in the Union Budget, Rs 7.24 lakh crore (60 per cent) was planned to be borrowed in first half (H1).
Inciting the public to raise funds for jihad (holy war) is not allowed to individuals or any organisation in Pakistan and is considered as treason, the Lahore high court has ruled even as it dismissed appeals of two terrorists convicted for raising funds for a proscribed terror outfit.
Around 25 BJP MLAs led by Leader of Opposition Suvendu Adhikari then walked out of the assembly, claiming that several party legislators were roughed up by TMC MLAs inside the House.
A question asked in Tamil triggered heated exchanges in Lok Sabha on Wednesday between the Opposition and Treasury benches that spilled over to the issue of ministers giving replies in Hindi.
They can make even a gamcha look like an accessory.
Mann stares at a twin-headed monster: Resuscitating the state's debilitated public-sector enterprises and controlling the spiralling debt to keep the state machinery and his poll-fuelled populist schemes running.
Finance Minister Nirmala Sitharaman on Tuesday highlighted "significant reforms" undertaken by the government including National Monetisation Pipeline (NMP) and National Infrastructure Pipeline (NIP) as she met institutional investors in Boston. Sitharaman arrived in the US on Monday for a week-long trip to attend the annual meet of the World Bank and IMF in Washingon as well as G20 Finance Ministers and Central Bank Governors (FMCBG) meeting. During the official visit to the US, Sitharaman is expected to meet US Treasury Secretary Janet Yellen.
'Our advice is to put money into equities now rather than staying away.'
Rishi Sunak, the former UK chancellor of the exchequer, on Friday formally launched his leadership bid to succeed Boris Johnson as the new Conservative Party leader and future British prime minister.
Similar bills in the recent past have been passed in the Bharatiya Janata Party-ruled states.
Concerned over inflationary pressures in the economy, the Reserve Bank of India (RBI) is bringing down surplus liquidity in the system rapidly. It has fallen to pre-Covid levels and almost 2 per cent of banks' net demand and time liabilities (NDTL). NDTL shows the difference between the sum of demand and time liabilities (deposits) of a bank (with the public or the other bank) and the deposits in the form of assets held by the other bank.
"The game is not yet over. Even parties like the Samajwadi Party, which lost the Uttar Pradesh assembly polls, has more MLAs than it had last time," she said.
State RJD president Jagadanand Singh on Saturday announced its candidates for two seats, having done the same for 21 others a week ago, and declared that it was leaving one for the Left parties.
Makki is a US-designated terrorist and brother-in-law of Lashkar-e-Tayiba chief and 26/11 mastermind Hafiz Saeed.
'No one in this administration, not the President nor anyone on the national security team, would suggest that the Taliban are respected and valued members of the global community'
Technology giant Microsoft is in talks with TikTok's parent company ByteDance to buy its US operation.
The order gives the state and treasury departments authority to consider and impose sanctions on individuals, entities or associates of the Turkish government involved in actions that endanger civilians or lead to the further deterioration of peace, security and stability in northeast Syria.
China has blocked a proposal by the US and India at the United Nations to blacklist Abdul Rauf Azhar, the brother of Jaish-e Mohammed (JeM) chief Masood Azhar and the deputy chief of the Pakistan-based terror group, in the second such move by Beijing in less than two months.
Generally, before adjourning the house sine die the chair reads out the statistics about the business transacted in the house in detail.
Sunak joins fellow Indian-origin candidate Suella Braverman, the UK Attorney General who is among the early Tory MPs to announce her plan to contest.
Amid the din in which BJP and Congress members tried to shove each other and some members banged the door leading to the secretary general's desk, Birla adjourned the House for the day.
A few days back, Finance Minister Nirmala Sitharaman urged the start-up community and public to deal in cryptocurrency with caution because everything that was floating around was not currency. In the first week of August, the country's top nine crypto exchange platforms were summoned by the Directorate of Enforcement (ED) in Hyderabad. The exchanges were questioned for money laundering, especially over a number of Indian non-banking financial companies and their fintech partners for predatory lending practices in violation of the Reserve Bank of India (RBI) guidelines and by using tele-callers who misuse personal data and use abusive language to extort high interest rates from the loan takers.
The rise in US bond yields spooked investors last week and there could a further increase given the inflation dynamics, according to Christopher Wood, global head of equity strategy at Jefferies. "The US bond market sell-off has continued over the past week, and with it the increased potential for an inflation scare. "Still, there is plenty of scope for bonds to sell off more since the last time the 5-year forward inflation expectation rate was running at current levels (namely in early December 2018), the 10- and 30-year bond yields were significantly higher at 2.91 per cent and 3.17 per cent, respectively," the market guru said in his newsletter GREED & fear. The 10-year and 30-year US Treasury finished at 1.34 per cent and 2.13 per cent, respectively, last week.
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.
'At current valuations, we believe large-caps offer better downside support.' 'Hence, we are suggesting a small tilt towards them.'
In the state of the economy report, the RBI said bond vigilantes could undermine the recovery, unsettle financial markets, and trigger capital outflows from emerging markets.
There are only three entities left in the fray now - Russian Fund Treasury RA Partners, Panama-based investment firm Avantulo Group and South American conglomerate Synergy Group Corp.
While seven of the suspended MPs belonged to the TMC, six were from the DMK, three from the Telangana Rashtra Samithi, two from the Communist Party of India-Marxist and one from the Communist Party of India.
Speaker Vijay Kumar Sinha, who was a minister himself in the previous National Democratic Alliance government, was visibly shaken at the disdain shown towards the Chair by Samrat Chaudhary who holds the Panchayati Raj portfolio.
'One way of doing this could be offering credit guarantee to the banks, say 10 per cent, for fresh loans given to micro, small and medium enterprises,' observes Tamal Bandyopadhyay.
The HDFC duo was the top laggard in the Sensex pack, shedding nearly 4 per cent, followed by PowerGrid, Tech Mahindra, ICICI Bank, ONGC, Kotak Bank, Asian Paints, Infosys and Reliance Industries. NSE Nifty slumped 154.40 points to 14,690.70.
'When we look at the quality of our retail loan book, the non-performing asset percentage is low.'
The Trump administration is confronting and countering malign Russian cyber activity, including their attempted interference in the US election, destructive cyber-attacks, and intrusions targeting critical infrastructure, said Treasury Secretary Steven T Mnuchin.
Referring to how unified Washington Allies have been in isolating President Putin, Biden stated, "...The Quad is, with the possible exception of India being somewhat shaky on some of this, but Japan has been extremely strong -- so has Australia -- in terms of dealing with Putin's aggression."
Mir was called "project manager" of the Mumbai attacks.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
The case relates to alleged fraudulent withdrawal of Rs 35.62 crore from the Chaibasa treasury in the 1990s when he was the chief minister of undivided Bihar.
A joint forum of central trade unions has given a call for a nationwide strike on March 28 and 29 to protest against the government policies affecting workers, farmers, and people.
HDFC and HDFC Bank's merger - touted as India's biggest-ever corporate merger - pumped up shares of the two entities on the bourses. Shares of Housing Finance Development Corporation (HDFC) skyrocketed 9 per cent while those of HDFC Bank zoomed 10 per cent. In comparison, the benchmark S&P BSESensex and the Nifty50 indices settled 2.2 per cent higher on Monday.
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