According to a new report published by Switzerland-based BIS, which is also referred as 'bank for central banks', the US Federal Reserve's announcement of a possible phasing out of easy money regime has resulted in 'abrupt and sizeable' equity market losses in both advanced and emerging markets.
The country's foreign exchange reserves surged to $576.98 billion as on March 31, 2021 from $544.69 billion at September-end last year, an RBI report said. Foreign currency assets (FCA), a major component of the overall reserves, increased to $536.693 billion as at March-end 2021 from $502.162 billion, the report noted. On balance of payments basis (excluding valuation changes), foreign exchange reserves increased by $83.9 billion during April-December 2020 as compared with $40.7 billion in the year-ago period, it said.
Those selling ornaments with lower purity might now offer hefty discounts in order to get rid of non-hallmarked stocks
The Central Consumer Protection Authority (CCPA) on Wednesday said it has imposed a penalty of Rs 1 lakh on e-commerce firm Flipkart for allowing sale of substandard domestic pressure cookers on its platform, in violation of mandatory standards. Headed by Chief Commissioner Nidhi Khare, the CCPA has directed Flipkart to recall all such 598 pressure cookers sold on its platform, reimburse their buyers, and submit a compliance report within 45 days. The central government routinely notifies the Quality Control Orders (QCOs), specifying compulsory conformity to a standard and use of the standard mark for a product to protect consumers from the risk of suffering injury and harm and in the interest of the public at large.
Dealers anticipated a sharp rise in jewellery demand this wedding season, but then came demonetisation.
Singh, 80, had floated the PLC last year after quitting the Congress following his unceremonious exit as chief minister, but his party failed to win any seat in the state assembly polls.
The move will help to curb the grey market for sub-standard electronics products.
Only three or four tonnes is estimated to have been mobilised under the scheme.
The Director General of Bureau of Indian Standards has urged the health and family welfare ministry to amend specifications of packaged drinking and mineral water in line with the amendment carried out in BIS specifications.
While the outbreak has forced most leading brands like Apple, Xiaomi, Oppo, Vivo, and Realme to rework their launch dates and pricing strategies, Samsung, which struggled to maintain its hold over the market last year, has taken the lead.
Amid criticism over the formation of foam in the Yamuna -- a sign of its hazardous water quality -- the Delhi government on Tuesday deployed 15 boats to remove the froth with the help of ropes.
There are 350,000 jewellers, of which 13,000 are BIS-certified.
"NSO is a private company, it is not a governmental project and therefore even if it is designated, it has nothing to do with the policies of the Israeli government," Israel's Foreign Minister, Yair Lapid, said at a joint press conference with Prime Minister Naftali Bennett and Finance Minister Avigdor Lieberman at the Prime Minister's Office on Saturday evening.
If Tamil Nadu BJP President K Annamalai bought it in 2015, did he get prior approval from the Union home ministry, and did he include it in his annual wealth returns, sections of the media want to know. N Sathiya Moorthy on the curious case of the 'Rafale' watch.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to a 14-year-high of 3.83 billion Swiss francs (over Rs 30,500 crore) in 2021 on a sharp surge in holdings via securities and similar instruments while customer deposits rose as well, annual data from Switzerland's central bank showed on Thursday.
HAL's Aircraft Division Nashik, established in 1964 for licence manufacture of MiG-21FL aircraft and K-13 missiles, is located at Ojhar, 24 km from Nashik and around 200 km from Mumbai.
Gold demand in rural India is expected to be lower this year with weak monsoon affecting household savings, according to the World Gold Council (WGC).
A WGC survey says that there is no dearth of gold demand, but there is lack of trust among prospective gold buyers, not only in India but globally.
Gold, which lost its sheen to some extent in the second half of 2021, is likely to regain the glitter in the New Year and cross the Rs 55,000-per-10-grams level amid pandemic woes, inflation worries and stronger US dollar. After a stellar run up in 2020 when the yellow metal touched a record high of Rs 56,200 on the MCX in August, the prices are near Rs 48,000 per 10 grams now. This is roughly 14 per cent lower from the all-time highs and 4 per cent lesser compared to January 2021 levels.
A new framework has been put in place for automatic exchange of information between Switzerland and India to help check the black money menace with effect from January 1, 2018. The funds held by Indians through fiduciaries alone used to be in billions till 2007 but began falling after that amid fears of regulatory crackdown. It is now at second-lowest level in 20 years.
The 'Rating Level 4' means that the financial market regulators have all regulatory measures "fully in force"
A survey by BIS has found that only 14 of the 120 gold samples collected from various parts of the country conformed to the standards, meaning that most consumers are almost certain to buy substandard gold than the metal of desired purity.
India has become the 37th country to join the list of Strategic Trade Authorization-1 category, the only South Asian nation.
He said this in Parliament rebutting reports last month, which quoted the Swiss National Bank, the country's central bank, as saying in its annual report that Indian deposits had risen by 50 per cent in 2017.
India should not be left behind. It should join the seven central banks which are studying feasibility and safeguards necessary to eliminate risks, particularly from hacking, advises former foreign secretary Shyam Saran.
Officials have admitted that the problem of frothing will continue until sewage treatment plants in Delhi are upgraded to meet the new standards.
Cars priced above Rs 25 lakh account for 1 per cent in India's 3 million-car market and the share has remained unchanged over the last five years.
Mithali Raj was named as the captain of India's 15-member women's cricket squad on Monday for the World Cup to be played in India next month.
While Delhi boasts of one of the best metro systems in the world and decent infrastructure, reckless construction, legalising unauthorised colonies, and the worsening water and air quality dent its image of being a robust cosmopolitan city.
50 per cent of the flashlights market in the country is dominated by Chinese imports, which have been increasing.
The Department of Commerce alleged that Huawei was engaged in activities that are contrary to US national security or foreign policy interest.
Hallmarking will guarantee the purity or fineness of the precious metal.
Residents in India and other emerging economies borrowed $34 billion by issuing debt securities in the international market during the last three months ending November, the Bank for International Settlements (BIS) has indicated.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to 2.55 billion Swiss francs (over Rs 20,700 crore) in 2020 on a sharp surge in holdings via securities and similar instruments, though customer deposits fell, annual data from Switzerland's central bank showed on Thursday. The increase in aggregate funds of Indian clients with Swiss banks, from 899 million Swiss francs (Rs 6,625 crore) at the end of 2019, reverses a two-year declining trend and has taken the figure to the highest level in 13 years. It stood at a record high of nearly 6.5 billion Swiss francs in 2006, after which it has been mostly on a downward path, except for a few years including in 2011, 2013 and 2017, as per the Swiss National Bank (SNB) data.
The Bill to amend the Bureau of Indian Standards Act has been passed.
Streamlining its delivery network and shifting focus back to the mass segment - at a time when competitors were struggling to restore normalcy in operations due to the pandemi - aided the firm's revival.
