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.
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.
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.
'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.
Under KV Kamath's leadership, ICICI Bank's revenues grew multi-fold.
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.
About railways sector, the Survey said that it is facing stiff competition from other modes of transportation and the government is initiating various transformative measures to keep railways on track.
Her statement comes ahead of Pakistan Prime Minister Shahid Khaqan Abbasi's address at the United Natiosn General Assembly.
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.
She said there was no bigger global challenge than "state-sponsored" and "state-protected terrorism, asserting those supporting terror networks must be made to pay the cost.
The host country has been pressing for a discussion at the 10th G20 Summit on the conflicts in Syria and the worst migrant crisis since World War II.
Under the watchful eyes of five wise men, who know the industry well, banks will not find it easy to hoodwink the system, says Tamal Bandyopadhyay.
As the context of Panchsheel has changed, it is all the more essential that India and China need to reinvent and redefine Panchsheel for a new world order taking into account globalisation, and mutual economic interdependence. The new Panchsheel, in order to be relevant, needs to shed its binary approach of west verses the east recognising the seamlessness of global frontiers, which globalisation has brought in, says Rup Narayan Das.
The total value of assets held by India's financial institutions touched nearly $2.8 trillion, the third largest among BRICS nations, in 2013.
'No one seems to have looked at the extent of money that is being borrowed by individuals, and the rising levels of household debt.' 'At their present rates of growth, personal loans in India could well become the largest category of bank credit in just two or three years,' cautions T N Ninan.
He also offered India's experiences of participative political institutions, local governance, media and civil society with Africa.
Putin said India was facing a serious problem on account of terrorism and it was not an "imaginary thing".
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.
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.
Prime Minister Narendra Modi has "strongly" and "clearly" conveyed concerns to Chinese President Xi Jinping over Beijing blocking a proposal for action by the United Nations against Pakistan on the release of jailed Mumbai attack mastermind Zaki-ur-Rehman Lakhvi, with India rejecting the "weak evidence" theory propounded by Beijing in this regard.
Atherstone Capital Markets has come up with India IPO Index, which is an index of companies listed on the stock exchanges.
The corporate sector does not care from where the money is coming.
The V-shaped rebound has been aided by a gush of liquidity flooding the global financial system, thanks to balance sheet expansion.
Wang arrived in Delhi on Thursday evening in the highest-level visit between the two countries after the ties came under severe strain following the military standoff in eastern Ladakh that began nearly two years ago.
So, while it is great that India's numbers look relatively good, don't raise a cheer just yet, points out T N Ninan.
Echoing the position articulated by Prime Minister Manmohan Singh, China and Russia on Thursday warned that imminent withdrawal of fiscal stimulus by the US could have an adverse impact on the global economy and cautioned the Obama administration against it.
The BRICS summit made clear that China's support for Pakistan is unwavering. China will continue to pressure India to ease tensions with Pakistan and resolve the Kashmir dispute.
Investors who ditched US markets for emerging ones during the financial crisis are set to pay a hefty price.
India, China must further strengthen business ties for growth.
The G20 meeting of the finance ministers and central bank governors beginning July 19 will also be attended by Reserve Bank of India Governor D Subbarao and Deputy Governor Urjit Patel.
If banks cannot charge interest from borrowers during the moratorium, who will bear that cost? Should the depositors subsidise the borrowers by foregoing interest on deposits? In that case, we will turn banking on its head! notes Tamal Bandyopadhyay.
Addressing the BRICS investment seminar in Mumbai ahead of the 5-nation Summit in Goa on October 15-16, Jaitley said the government has put FDI on automatic route in almost 90 per cent of the areas that are eligible for foreign direct capital.
Prime Minister Narendra Modi asked G20 nations to freeze and repatriate unaccounted money hoarded abroad.
Prime Minister Narendra Modi leaves for Brazil on Sunday for attending the five-nation summit of BRICS nations on July 14 and 15 which is expected to finalise the setting up of a development bank and seek reforms of the United Nations and international financial organisations.
India's foreign reserves continue to march to record highs, touching USD 393 billion early this month backed by strong foreign portfolio and investment flows, according to Development Bank of Singapore.
India's retail inflation is the highest among the BRICS group of emerging economies.
Putin, 62, who holds an 8th dan black belt in Karate, said, "I do not know how to do yoga. When you people do it, it looks difficult. That is why I have not tried it."
Xi and Modi met soon after their arrival at a summit of the BRICS group of emerging powers. Xi said the two countries should join hands in setting global rules and suggested he attend the November meeting of the 21-nation APEC in Beijing, as well as take part in Chinese-led regional initiatives.
India was ranked 12th among the large economies in 2008, and moved up to 10th by 2013, overtaking Canada and Spain.
