Russia is among the top buyers of Indian tea, accounting for about 18 per cent of the industry's total exports.
India's manufacturing sector activities lost further growth momentum and fell to a seven-month low in March as demand was constrained by the escalation of the COVID-19 pandemic, a monthly survey said on Monday. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in February to a seven-month low of 55.4 in March. However, the latest reading was indicative of a substantial improvement in the health of the sector that outpaced the long-run series average, it said. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.
The actual expenditure will only be marginally higher and hence, the multiplier effect will be muted.
The Supreme Court on Friday said there should be a robust mechanism to ensure that the interests of Indian investors are protected in the stock market and sought views of the Centre and market regulator SEBI on PILs alleging exploitation of innocent investors and "artificial crashing" of the Adani group's stock value.
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
Two associations representing pilots and engineers have written to SBI chairman Rajnish Kumar proposing that they would take over the airline and can bring in up to Rs 7,000 crore.
The 1995 judgment in the Union of India vs Cricket Association of Bengal case emphasised that free speech is essential for a successful democracy and citizens must have a plurality of views and a range of opinions on all public issues, says M J Antony.
The draft scheme, seen by PTI, said it will provide an option and a respectable exit route to employees who have reached a level of saturation in their career, may not be at the peak of their performance, have some personal issue or want to pursue their professional or personal life outside the bank.
Former Santosh Trophy National Football Championship player, E Hamsakoya, who had tested positive for COVID-19, succumbed to the virus early Saturday at a hospital in Malappuram, taking the toll due to the infection in the state to 15. Native of nearby Parappanangadi, Hamsakoya (61) had settled in Mumbai. He and his family had come down to his hometown on May 21 and had been under quarantine.
During the debate on the 'Motion of Thanks on the President's Address', Leader of the House Piyush Goyal and Union Finance Minister Nirmala Sitharaman strongly objected to 'insinuations' against the prime minister, who was also present in the House.
Union Home Minister Amit Shah on Sunday alleged that if the Congress-All India United Democratic Front combine come to power in Assam they will open 'all gates' to welcome infiltrators.
Some people are shining through India's gravest health emergency by offering to run errands and home kitchens delivering meals to organisations and individuals stepping in to supply oxygen cylinders, oximeters
India's services sector activity moderated further in January as new business rose at a noticeably slower rate amid the escalation of the pandemic, reintroduction of restrictions and inflationary pressures, a monthly survey said on Thursday. The seasonally adjusted India Services Business Activity Index fell to 51.5 in January, down from 55.5 in December, pointing to the slowest rate of expansion in the current six-month sequence of growth. For the sixth straight month, the services sector witnessed an expansion in output.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
This alternative is being planned as the existing projects continue to be delayed due to land acquisition troubles. The ministry is thinking of adding new track lines to its existing eastern and western DFCs passing major areas in the proposed stretches, senior officials said.
Ten trade unions with a combined membership of 15 crore workers in public and private sector, including banks and insurance companies, are on a nationwide strike to protest against changes in the labour laws.
Banks want lower provisioning burden on recast debt, interest on cash reserve ratio deposits.
The murder of Atiq and his brother and the police encounter with his son have raised many questions about the propriety of how crime is tackled by the Yogi government. But Yogi knows he has the support of the people who are fed up with crime holding the state to ransom for decades, asserts Ramesh Menon.
The Supreme Court on Wednesday allowed banks and financial institutions to provide services related to cryptocurrencies by setting aside the RBI's 2018 circular which had prohibited them. A three-judge bench, headed by Justice R F Nariman, said the Reserve Bank of India circular is liable to be set aside on the ground of "proportionality". "Accordingly, the writ petitions are allowed and the circular dated April 6, 2018 is set aside," said the bench, also comprising justices Aniruddha Bose and V Ramasubramanian.
10 central trade unions have called a nationwide shutdown against 'anti-worker policies' of the central government. Apart from being successful in Bengal, Kerala and NE states, the bandh has also got support from Cong leader Rahul Gandhi and Shiv Sena in Maharashtra.
Former RBI deputy governor R Gandhi on Tuesday made a case for treating and regulating crypto as a separate asset class with a view to enabling governments around the world to effectively deal with illegal activities associated with virtual currencies. After quite a lot of debate over the years, he said, people have fully understood that crypto cannot be a currency because the fundamental element of a currency- that it should be a legal tender- is missing in this case. He said that in this case, one cannot compel a crypto currency to be accepted by another person as it is not a legal tender.
He added that the risks can increase if the Chinese slowdown gathers more speed.
Justice M S Sonak in an interim order on Monday restrained the Charity Commissioner from attaching the assets and accounts of the NGO. The HC also ordered defreezing of the domestic and non-FCRA bank accounts of the NGO.
The minister assured the families that the people would be airlifted as soon as possible.
Thousands of Inter University Students' Federation (IUSF) students were seen sloganeering outside the Prime Minister's Residence in Wijerama Mawatha.
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Monday approved Piramal Group's resolution plan for the beleaguered Dewan Housing Finance Ltd (DHFL), which has been reeling from the insolvency process since 2019. The plan put forward by Piramal Group, which has offered to pay Rs 37,250 crore, has been approved by the committee of creditors (CoC), the Reserve Bank of India (RBI), and the Competition Commission of India (CCI).
Many countries advised the return the high-denomination notes to the central bank for destruction, but these continued to be legal tender. This and the introduction of a new Rs 2,000 note in India are the two major differences between Indian demonetisation and those of other countries.
Aviation is a juicy target. It's a 24x7 industry, which cannot afford delays or loss of customer credibility.
'Looking at the speed at which changes were made post the Franklin Templeton issue, we are awaiting more stricter norms in the months to come.'
The government planned to borrow 10-15 per cent of the total borrowing offshore. That works out to at least Rs 71,000 crore, or about $10.4 billion at Friday's exchange rate.
'The Khalistanis get bulk of the money from abroad.' 'Where did Amritpal's Mercedes come from, which costs well over Rs 60 lakhs?' 'Where does his fleet of vehicles come from?' 'Local Punjabis can certainly not contribute this kind of money.'
India's services sector activities contracted further in June as the intensification of the COVID-19 crisis and reintroduction of containment measures restricted demand, a monthly survey said on Monday. The seasonally adjusted India Services Business Activity Index fell from 46.4 in May to 41.2 in June, as new work intakes and output contracted at the fastest rates since July 2020, which prompted companies to reduce employment again. Subdued demand conditions resulted in a second successive monthly drop in new business received by services firms.
The Reserve Bank is unlikely to lower the interest rates.
Xiaomi plans to bring global component suppliers to India and this could potentially bring investment of at least Rs 15000 crore
Under the India-China agreement on the disengagement process in eastern Ladakh, the Chinese army will pull back its troops to east of Finger 8 areas in the northern bank of Pangong lake, Defence Minister Rajnath Singh said in Parliament on Thursday, in what is seen as a significant step to dial down tensions in the key face-off site.
The 82-year-old former Jammu and Kashmir chief minister received the ED summons a day after the formation of the People's Alliance led by him was announced on October 15.
Voting for the seventh and final phase of the Uttar Pradesh assembly elections covering 54 seats, including Prime Minister Narendra Modi's parliamentary constituency Varanasi, will be held on Monday to decide the phase of 613 candidates.
Finance Minister Nirmala Sitharaman on Tuesday said the government is working out a new Bill on cryptocurrency which will be placed in the ongoing session of Parliament after approval of the Union Cabinet. The ongoing winter session is scheduled to end on December 23. Replying to a series of questions in the Rajya Sabha, she said the new Bill takes into account the rapidly changing dimensions in virtual currency space, and incorporate features of the earlier Bill that could not be taken up.
Lenders can now review a borrower account within 30 days of default. Earlier, the banks had to start resolution within one day of default.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
