Modi said there were a slew of 'matching priorities' between the business council and that of his administration, including dismantling trade barriers, promoting skills development, establishing manufacturing supply chains and infrastructure development.
'The two sides should support rather than undermine each other, strengthen cooperation rather than guard against each other, and enhance mutual trust rather than be suspicious of each other'
The government is "extremely disappointed" with the latest report of the Moody's rating agency on India's economic outlook. The report, a senior government official said, was highly contradictory and called the rating agency's credibility into question. Referring to the Moody's statement that "India's fiscal strength remains a key weakness in the sovereign credit profile...", the official remarked: "How can my strength be my weakness? Moreover, they are unwilling to have a like-to-like comparison with India."
The existing SAARC Development Fund could be merged into the bank.
India and China on Monday held a fresh round of military talks with a focus on disengagement of troops in the remaining friction points in eastern Ladakh and ease overall tensions in the region.
Banks now ride on what is defined as a "banking outlet". This is a fixed-point service unit, manned by either the bank's staff or its business correspondent (BC), where all kinds of services - acceptance of deposits, encashment of cheques, cash withdrawal or lending of money - are provided for a minimum of four hours per day, for at least five days a week. Banks are now turning to reposition the manner in which they acquire customers, report Abhijit Lele and Raghu Mohan.
Users jocularly wondered if the name of institutions such as the Indian Space Research Organisation, the Reserve Bank of India and the Board of Control for Cricket in India will be changed.
India is set to press for early disengagement of troops from the remaining friction points in eastern Ladakh at a fresh round of high-level military talks with China on August 14, people familiar with the matter said on Saturday.
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.
India is better positioned to face external shocks emanating from increasing geopolitical tensions, the aftermath of the COVID pandemic and the inevitability of climate change, Reserve Bank Deputy Governor Michael Debabrata Patra said on Monday. Relative to macroeconomic configurations in 2013 when India was described as one of the fragile five countries, he said, "India is better positioned currently, as its macroeconomic fundamentals have improved significantly, and external sector indicators point to the availability of enough cushions to manage external shocks." He was speaking at a conference on 'Growth And Development in the BRICS Economies' organised by the Delhi School of Economics (DSE) and the Indian Statistical Institute (ISI).
Several factors seem to have corrected in India in the past six months, says the president of New Development Bank.
In the first quarter of 2016, India's credit-to-GDP gap stood at -2.9, the lowest among the BRIC group of nations
Trouble at a single bank among the top five most connected lenders could wipe out nearly 50% of Tier I capital
'The cost of financing the fiscal deficit will decrease, as new passive investors join in.'
Extending its support to Saarc Bank, Sri Lanka on Thursday said the proposed financial institution will help in alleviating poverty in the South Asian region.
The Bharatiya Janata Party asked former Prime Minister Manmohan Singh and the Congress to answer allegations of "improper compromises" by three former chief justices of India during the United Progressive Alliance rule, saying the matter was "unfortunate".
'Wang Yi said the border issue is important and we should stay committed to peacefully addressing it through consultation and coordination.'
It is for China to decide what role it plays at the G20 summit in New Delhi, a top US official has said, asserting that if Beijing wants to come in and be a "spoiler", that option is available to it.
China has demonstrated that it has the power to not be isolated, and it is likely to become more powerful over time.
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
China has signalled that it will prevent India from assuming leadership of the Global South, observes Ambassador T P Sreenivasan.
The funds officially held by Indians with banks in Switzerland now accounts for only 0.07 per cent of the total funds kept by all foreign clients in the Swiss banking system.
Chinese Foreign Minister Qin Gang reiterated that the situation at the India-China border is generally stable and both sides should consolidate the present achievements and strictly abide by the relevant agreements while pushing for further cooling and easing of the conditions for sustainable peace and tranquillity at the frontier.
India's dream to be in the forefront of international politics has come true. India has placed itself firmly as a major player in the shaping of a new world order, observes Ambassador T P Sreenivasan.
If China's behaviour in the past on ticklish issues is any indication then China could eventually support India's NSG application, says Rup Narayan Das.
Any additional effort to assuage the growing worldwide hunger for infrastructure funding is more than welcome, says Barun Roy.
India put up a dull performance among emerging economies this year.
India, the bank's second biggest shareholder after China, is looking to borrow from the AIIB.
The regulatory changes brought in by the insurance regulator and the amendments proposed to the Insurance Act by the Centre may herald a new dawn for the sector in India. This may result in insurers bringing out more consumer-led products, top honchos of general insurance companies of the country concurred at the Business Standard BFSI Insight Summit 2022.
Emerging markets facing 5th year of slow growth: World Bank.
The government on Wednesday announced the appointment of veteran banker K V Kamath as chairperson of the newly set up Rs 20,000 crore development finance institution NaBFID to catalyse investment in the funds-starved infrastructure sector. Parliament had in March cleared the National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 to support the development of long-term non-recourse infrastructure financing in India, including the development of the bonds and derivatives markets necessary for infrastructure financing.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
Puri pointed out that government's work on agricultural constituents like functioning of the APMCs, irrigation and direct benefit transfers will help the supply side
The Supreme Court on Thursday asked the Sebi to probe within two months allegations of stock price manipulation by the Adani group and any lapses in regulatory disclosures, and also set up a panel to look into protection of Indian investors after a damning report by a US short seller wiped out more than USD 140 billion of the conglomerate's market value. The top court while directing the setting up of a six-member committee headed by former apex court judge Justice A M Sapre for the assessment of the extant regulatory framework and for making recommendations to strengthen the process said it was appropriate to set up such a panel of experts in order to "protect Indian investors against volatility of the kind which has been witnessed in the recent past". The court-appointed Justice Sapre panel, which will be provided assistance by the Centre and other statutory agencies including the Sebi chairperson, will have to submit its report in a sealed cover within two months, said the bench which comprised Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala.
'Terrorism continues to be the overwhelming threat to security and stability in the SCO region and therefore Dr Jaishankar strongly pitched for 'collective action',' observes Dr Rajaram Panda.
The talks took place in a beach resort in Benaulim on the sidelines of a meeting of the Council of Foreign Ministers of the Shanghai Cooperation Organisation.
Under KV Kamath's leadership, ICICI Bank's revenues grew multi-fold.
External Affairs Minister S Jaishankar on Thursday conveyed to his Chinese counterpart Wang Yi the need for an early resolution of all outstanding issues along the Line of Actual Control in eastern Ladakh, and asserted that bilateral ties should be based on mutual respect, mutual sensitivity and mutual interest.
China continues to hold out on fingering Pakistan as the 'mothership of terror,' declaring Masood Azhar a terrorist at the UN, and India's membership of the NSG, says China expert Srikanth Kondapalli.
Her statement comes ahead of Pakistan Prime Minister Shahid Khaqan Abbasi's address at the United Natiosn General Assembly.
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