The RBI refuses to classify a cryptocurrency as an asset since it doesn't have future cash flow and its value is always fluctuating because of speculation. There is also no consumer protection, observes Tamal Bandyopadhyay, and hence the e-rupee trial run.
The last round of Corps Commander-level talks had taken place on October 12 but there was no breakthrough on the disengagement of troops from the friction points.
In her first address to a joint sitting of the two Houses in the new Parliament building in which she touched on varied issues ranging from insurgency to inflation, Murmu said a country can progress at a fast pace only when it defeats the challenges of the past and puts maximum energy into building the future.
Spokesperson in the MEA Anurag Srivastava said both sides have agreed to work for an early resolution to the issue in keeping with broader guidance provided by leaders of the two countries for ensuring peace and tranquillity along the border areas. He, however, did not respond to questions relating to reports of pulling back of troops by both India and China from certain friction points in the Galwan Valley and Hot Spring areas in eastern Ladakh in the last few days.
'The missile mounted near Kailash-Mansarovar is called DF-21. It is a medium-range, 2,200 kilometres ballistic missile. Its advantage is that it can cover all cities of north India, including New Delhi'
While banks are not as exposed as the corporate sector during the initial stage of the pandemic, the strain on lenders could ultimately be profound. Banks face a second-order hit compared with the corporate and household sectors.
Experts say while the increasing demand for a ban on Chinese goods might make for good optics, the reality is that India is still heavily dependent on that country in a wide range of industries like electronics, mobile devices, auto, pharma, telecom equipment, and fertilisers.
He said if the Chinese military maintains the deployment through the second winter, it may lead to an LoC-like situation (Line of Control) though not an active LoC as is there on the western front with Pakistan.
Equity benchmarks Sensex and Nifty gave up early gains and ended lower by 1 per cent on Wednesday amid a largely weak trend in Asian markets and sell-off in index majors Reliance Industries, ICICI Bank and HDFC twins. The 30-share BSE benchmark Sensex tumbled 635.05 points or 1.03 per cent to settle at 61,067.24. During the day, it slumped 763.91 points or 1.23 per cent to 60,938.38. The broader NSE Nifty declined 186.20 points or 1.01 per cent to end at 18,199.10.
A whitepaper released by the Chinese government gave a lengthy explanation to refute the allegations of cover up and delay by Beijing on reporting the COVID-19 outbreak last year in Wuhan. United States President Donald Trump and leaders of several countries have accused China of not being transparent in reporting the deadly disease, leading to huge human casualties and economic crisis across the world.
In his memoir Four Stars of Destiny, Naravane recounts Singh's direction as well as a flurry of phone calls between the defence minister, external affairs minister, the national security advisor and the chief of defence staff that night on the sensitive situation.
The seventh round of military talks between India and China held on Monday was "positive and constructive", and both sides agreed to earnestly implement the understanding reached by their leaders to not turn differences into disputes, a joint statement by the two armies said on Tuesday.
She said that earlier governments used to sell dreams to people while the present regime is fulfilling the dreams.
Besides him, Brajendra Navnit who served in the Prime Minister's Office (PMO) has been appointed as Ambassador and Permanent Representative of India to the World Trade Organisation (WTO), Geneva, Switzerland. Topno is a 1996 batch Indian Administrative Service officer of Gujarat cadre.
Jaishankar noted that it would be difficult to say what will happen in the future as there are a lot of "contradictions and frictions" out there today.
Pompeo, who became the Trump administration's highest ranking official to visit Sri Lanka, said that the US and Sri Lanka shared a vision for democracy to build a relationship and the "freedom to hold democratic elections".
Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have been invited to join the grouping.
Who knows, the moment of truth in Ladakh may also augur for a giant leap toward boundary settlement with China in the fulness of time. The news that the special representatives of the two countries are planning to meet gives a positive signal, suggests Ambassador M K Bhadrakumar.
"What we have been able to gather is that Newsclick stands accused of offences under the Unlawful Activities Prevention Act (UAPA), for purportedly carrying Chinese propaganda on its website. All devices, laptops, gadgets, phones, etc have been seized in the past. All emails and communications have been analysed under the microscope," the statement by NewsClick read.
Policymakers should aspire to restore the pre-Independence environment where the rupee was trusted and used all over South Asia, in Southeast Asia, in West Asia, and in East Africa, suggests Ajay Shah.
US-based boutique investment company GQG Partners has shot into limelight with its Rs 15,446-crore Adani wager.
India's national security focus has shifted from the western border to the eastern one. But our trade with China keeps rising. This trade is against our interest, because most of it comprises of Chinese imports, argues Aakar Patel.
The "opaque" electoral bonds scheme for funding political parties will "destroy democracy" as it promotes corruption and does not allow a level playing field between the ruling and opposition parties, the petitioners challenging the validity of the scheme told the Supreme Court, which on Tuesday observed election funding was a "complicated issue".
The Sensex jumped nearly 900 points and the Nifty rallied over 272 points on Friday, bouncing back from the previous day's fall, following a positive trend in global equities and fresh foreign fund inflows. The BSE Sensex rallied 899.62 points or 1.53 per cent to end at 59,808.97 after starting the trade on a positive note. During the day, it jumped 1,057.69 points or 1.79 per cent to 59,967.04.
Answering questions on the clashes near Naku La Pass in the Sikkim sector which resulted in injuries to both sides, Chinese Foreign Ministry spokesman Zhao Lijian said that the most pressing issue for the world at present is the fight against the coronavirus.
With Pockets, ICICI Bank aims to target first-time customers.
The Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 per cent this year, the International Monetary Fund said on Tuesday. However, India is likely to bounce back with an impressive 8.8 per cent growth rate in 2021, thus regaining the position of the fastest growing emerging economy, surpassing China's projected growth rate of 8.2 per cent, the IMF said in its latest 'World Economic Outlook' report.
'Clearly, the depositors of cooperative banks need the maximum protection.'
Even as the returns of mutual fund (MF) schemes have improved considerably in the past three months, addition of new investors has remained in the slow lane for the MF industry. According to industry data, during the first six months of CY 2023, MFs onboarded only 1.6 million new unique investors, in stark contrast to the 4.7 million investors added during the same period last CY and the 2.4 million in 2021. It is noteworthy, however, that the current additions for this year have doubled in comparison to the figure of 800,000 seen in 2020.
United States President Joe Biden will travel to India from September 7 to 10 to attend the G-20 Leaders' Summit during which he will discuss with other leaders a range of global challenges, including the Ukraine conflict, the White House announced on Tuesday.
The new PN3 norms and lack of clarity on what constitutes beneficial ownership are the primary reasons for the decline in investments from China and Hong Kong.
An increasing number of US lawmakers voiced anger on Monday over the NBA's response to a Houston Rockets official's tweet backing Hong Kong democracy protests, raising US-China tensions as talks to end a 15-month trade war resumed.
Lt Gen PGK Menon, the commander of the Leh-based 14 Corps, popularly known as 'Fire and Fury' Corps, briefed the army chief on various aspects of the situation in eastern Ladakh.
'Our strategy should be to 'hold the line' in the north on the Sino-Indian land frontier, but maintain and, if possible, enlarge India's current edge in the maritime south.'
'Indian equity valuations, although not very expensive, are not cheap either.'
Top gainers in the Sensex pack included Tata Steel, Kotak Bank, NTPC, HDFC twins, PowerGrid and ONGC, rising up to 4.60 per cent.
'While foreign institutional investor flows are still negative, they will turn positive in the latter part of 2023 as India's resilient growth becomes perceptible.'
Other losers included Maruti, Kotak Bank, Hero MotoCorp, Bajaj Auto, IndusInd Bank and Bajaj Finance, that shed up to 1.79 per cent.
All the global transitions are working in India's favour, giving it the potential to become a force in today's uncertain world, but one of the country's biggest challenges is inclusive growth, Tata Sons chairman N Chandrasekaran said on Monday. In his address at the JRD Tata Oration, the head of the Tata group also asserted that Artificial Intelligence (AI) is here to stay and it will be beneficial if India prepares for it. Post the cold war era of relative stability and prosperity, the world appears to have given way to unpredictable conflicts and economic uncertainty, he said, adding that the pandemic resulted in supply chain shocks of gigantic proportion.
The focus of the deliberations was on finalising modalities for disengagement of troops in eastern Ladakh.
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