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.
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 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.
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.
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.
'At current valuations, we believe large-caps offer better downside support.' 'Hence, we are suggesting a small tilt towards them.'
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.
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.
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.
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.
'When we look at the quality of our retail loan book, the non-performing asset percentage is low.'
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.
'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.
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."
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.
Mir was called "project manager" of the Mumbai attacks.
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.
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.
Debt funds typically held 0-5 per cent of their portfolio in cash and cash equivalents before this Sebi diktat.
These sweeping financial sanctions follow the action earlier this week to cut off Russia's frozen funds in the United States to make debt payments.
Illustration: Uttam Ghosh/Rediff.com After a brief respite at the year's start, FPIs have dumped shares worth more than $5.7 billion (Rs 42,596 crore), taking the cumulative net outflows since October to $10.5 billion (Rs 78,466 crore), and adding to the volatility on the bourses. The figure would have been a lot worse had it not been for net purchases to the tune of $5.7 billion in the primary market from October to date.
There are reports that the government may try to physically prevent opposition members and nearly two dozen PTI dissidents from reaching the Parliament House through protestors.
A constitutional amendment bill to restore the powers of the states to make their own OBC lists was passed by Parliament on Wednesday, with the opposition and treasury benches joining hands in the Rajya Sabha to approve the legislation.
Expressing solidarity with the 12 suspended Rajya Sabha MPs, senior Congress leader Shashi Tharoor on Monday said he has decided to suspend hosting of a talk show on Sansad TV until the suspension of the legislators is revoked and a "semblance of bipartisanship restored to the conduct of Parliament".
Shiv Sena's Sanjay Raut said the Bharatiya Janata Party's national executive should pass a resolution to demand investigation by these agencies in the land case.
Catch all the action from the Upper and Lower House of Parliament.
The All India Majlis-e-Ittehadul Muslimeen MP from Hyderabad, chanted "Jai Bheem, Jai Meem, Takbeer Allahu Akbar, Jai Hind", after members from the ruling side shouted slogans of 'Jai Shri Ram', 'Bharat Mata Ki Jai' and 'Vande Mataram'.
American banking major Citibank on Thursday announced that it will exit from the consumer banking business in India as part of a global strategy. The business comprises credit cards, retail banking, home loans and wealth management.
Assume that the rupee will trend lower over the next 10 years as India increases overseas sovereign exposures, and your long-term asset allocation should be geared to deal with this trend, suggests Devangshu Datta
In the season of aviation action, Rakesh Jhunjhunwala-backed Akasa Air has secured the crucial no-objection certificate (NoC) from the civil aviation ministry. It expects to start operations next summer. The airline will now have to apply for the Directorate General of Civil Aviation for operations permit. Aviation sector has been in the limelight with the Tata Group winning the Air India bid last week.
Sri Lanka on Thursday signed an agreement with India to jointly redevelop the strategic World War II-era oil tank farm in the island nation's eastern port district of Trincomalee, in a new milestone in bilateral economic and energy partnership.
Indeed, there were frauds, and the politician-banker-industrialist nexus played a role in the rise of NPAs, but governance issues in Indian banking are far more nuanced and complex, reveals Tamal Bandyopadhyay.
Oppn members went into the area of treasury benches carrying a black banner, which demanded Shah's resignation, as Speaker Om Birla continued with proceedings of the House.
Naidu said have shown no remorse and have instead justified their actions.
It said New Delhi increased its purchase of foreign exchange over the first three quarters of 2017 which does not appear necessary.
Christopher Wood, global head of equity strategy at Jefferies reiterate his bullish view on Indian equities on the back of a steady fall in Covid cases coupled with a sharp economic recovery in India, reports Puneet Wadhwa.
The volume in the anonymous trading platform, NDS-OM, was Rs 7,210 crore - less than half the normal volume, but not as bad as the start of the day indicated.
The votes for the state assembly polls will be counted on November 10. Prasad is in judicial custody in Jharkhand capital Ranchi after his conviction in fodder scam cases. He was recently granted bail by the Jharkhand High Court in the case related to Chaibasa treasury but could not come out of jail as his bail plea in another case of fraudulent withdrawals from Dumka treasury is being heard.
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