'India and China are already in a warlike situation.'
The bank was worth over Rs 80,000 crore as recently as September 2017. The lender had grown at breakneck speed, helped perhaps by Rana Kapoor's reputation as a banker, willing to aggressively write checks.
'Outside investors don't want to get tangled up in a religious war.'
Surjit Bhalla believes that RBI is the only central bank in the world that formed its monetary policy on the basis of the current account deficit. He also feels that the Chidambaram proposed women's bank in Budget to impress Sonia Gandhi.
The ruling Samajwadi Party and the Bharatiya Janata Party in Uttar Pradesh seem to be making the most of the prevailing crisis in Moradabad to serve their political ends.
'If the third wave of Covid infections is as bad as the second one, the market may get very polarised with a preference for blue-chips with low volatility.'
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
In 2017 the Bangladesh supreme court on his watch annulled the 16th amendment to the constitution which empowered parliament to impeach SC judges for misconduct or incapacity. As it upheld the independence of the judiciary, it miffed Prime Minister Sheikh Hasina, who accused Justice Sinha of 'humiliating' the country. He was accused of corruption and misuse of power, allegations that he denied. Prakash Bhandari reports.
Attacking the Samajwadi Party, Prime Minister Narendra Modi on Thursday said it supported rioters and the mafia, and fielded criminals in western Uttar Pradesh for the assembly elections.
Rajan said that while there were talks about Jan Dhan, it was difficult to target transfers to people through this tool. Jan Dhan, he said, does not really work as advertised.
While the likely intensity of the third wave is still a matter of debate, wisdom lies in being financially prepared for it, advises Bindisha Sarang.
'Had the Congress made Sidhu its CM face, they would have won 80 out of 117 seats.'
Across Yes Bank branches, the busiest people were the relationship managers, trying to soothe nerves. Many were seen advising clients the situation was only temporary and that their money was safe.
Given the many policy areas where the Centre and the states have not been seeing eye to eye in the last few years, it is time the Modi government convenes a meeting of the Inter-State Council, recommends A K Bhattacharya.
In an attempt to display solidarity with its residents and help them in these dire times, the Jammu and Kashmir government has directed all its employees to report back to their duties immediately.
Non-BJP chief ministers are retaliating. If the Centre can use its agencies to threaten, intimidate and jail its rivals, so can they. The fightback will get more intense, observes Shekhar Gupta.
'We have already sanctioned loans worth over Rs 3,000 crore to around 120,000 customers.'
In a ruling in May, a UK high court judge had refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that the consortium of 13 Indian banks were entitled to recover funds amounting to nearly 1.145 billion pounds.
'When bankers are hounded by investigative agencies for credit decisions going wrong and defaulters are treated like outcasts, who will borrow money and who will lend?' asks Tamal Bandyopadhyay.
District Judge Samuel Goozee expressed his concern at the late submission of the documents, said to include largely bank statements relating to the diamond merchant's companies, but has agreed to consider the application for their submission.
While the bond market is relatively conservative about their interest rate expectations, the currency market seems to be projecting that interest rates should be much sharper
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
The OF saga has led to sex-workers looking at cryptocurrency as an alternative, notes Devangshu Datta.
It should stop what it is deliberately doing to the NGO sector and let it operate as freely as the rest of the private sector, asserts Aakar Patel.
Lack of clarity on data-sharing persists, public health experts sceptic about the pilot that was run in six Union territories as benchmark for national roll-out
Krishnamurthy Subramanian listed land, labour, law, and liquidity as the key areas of big reforms.
The analyst community tracking the Indian IT services industry took special note of Accenture's first quarter (Q1) performance, which showcased the rapid growth of its consulting business that outperformed its outsourcing business. Bookings indicate that the trend will continue. Consulting bookings increased 41.6 per cent year-on-year (yoy) to $9.4 billion, higher than the 17.6 per cent growth in outsourcing to $7.4 billion. The management commentary was also more bullish on the consulting business.
'Since the growth is not fast enough to provide jobs for the young, the fallout will be political and social,' warns T N Ninan.
Despite the relaxation of the one-child policy in 2016, the number of live births per 1,000 people fell to a record low of 10.48 in 2019, down from 10.94 in 2018.
In separate statements following an independent inquiry's conclusion that the BBC "fell short of the high standards of integrity and transparency which are its hallmark", her sons blamed the controversial 1995 interview for her "fear and paranoia" that damaged their parents' relationship.
Chinese tech unicorn ByteDance co-founder billionaire Zhang Yiming on Thursday announced that he will step down as CEO, in a surprise move that signalled a major leadership shake-up at the nine year-old technology firm which created popular global short-video app TikTok. Zhang, 38, who is one of China's wealthiest entrepreneurs, said he is ready to step down after nearly a decade of running the world's largest unicorn, becoming the latest among the country's technology founders to quit in their prime. Zhang will step down from his role as CEO of the Beijing-based ByteDance, giving up his day-to-day responsibilities to "be more impactful on longer-term initiatives," the Hong Kong-based South China Morning Post quoted the company announcement on Thursday.
RBI Governor Shaktikanta Das said the central bank saw economic growth slowdown in February, prompting it to cut rates ahead of the curve and wondered why markets were surprised with the decision to pause rate reduction. Noting that there is a need for an "informed and objective discussion" on the country's economy, Das said the RBI would do "whatever is necessary" to address growth slowdown, spikes in inflation as well to ensure good health of banks and non-bank lenders. The apex bank went for five consecutive rate cuts starting in February this year, making it a cumulative reduction of 1.35 per cent.
'Today, according to the law, you can't even claim legal expenses when fighting a case as a non-executive director unless you are acquitted. Given how high legal expenses are, that alone is enough to scare anyone away.'
Booked between 2007 and 2011, out of the total 32,700 residential units under various Jaypee Infratech (JIL) projects, at least 20,000 homes are yet to be delivered. Supreme Court documents show that, till last March, Jaypee had issued 7,997 offers of possession to homebuyers while executing only 6,530 sub-lease deeds. These deeds offer homebuyers possession rights but, unlike registration, does not guarantee absolute ownership.
The challenges before the coming Budget are more daunting than those in 2021, reveals A K Bhattacharya.
'Even if there is a third wave or a fourth wave, it is hard to see the economy will suffer like that (during the first wave).'
Tamal Bandyopadhyay, columnist and author of several books like From Lehman to Demonetisation: A Decade of Disruptions and Sahara: The Untold Story, tells Rediff.com why Yes Bank depositors should not panic and the current crisis at India's fifth largest private lender does not pose any systemic risk.
In a tough action, the Government on Thursday barred Greenpeace India from receiving foreign funds with immediate effect by suspending its licence for six months and froze all its accounts, alleging it has "prejudicially" affected the country's public and economic interests.
It can be noted that ever since Satyam Computers scandal came out in January 2009, the audit world, especially the Big Four, have been under fire from the regulators.
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