Barely days after imposing a 40 per cent export tax on onions to cool down soaring prices, which, in turn, triggered widespread protests across the main growing belts, the Centre on Tuesday sought to mitigate both political and economic tensions gripping parts of Maharashtra. It decided to procure an additional 200,000 tonnes of onions at Rs 2,410 per quintal for its buffer stock from farmers, a rate that is strikingly close to the price at which they were being exported before the 40 per cent duty was levied on August 19. The export price before the imposition of the duty stood at around $320 per tonne free on board (approximately Rs 2,650 per quintal).
This time Modi has no emotive message to take to the stump. Muscular nationalism doesn't work against the backdrop of China's successive inroads into Indian territory. Rising prices is a sore point that cuts across class and caste barriers; unprecedented levels of unemployment has the youth in a ferment. This has reduced the BJP campaign to a laundry list of recycled grievances and thinly veiled communal appeals, neither of which are working as well as they have in the past, argues Prem Panicker.
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
According to reports, public transport and banking services remain partly disrupted for the second day in some states.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
To bring in more transparency, the Maharashtra government will launch e-payment gateways for stamp duty and registration charges.
BoB now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers.
The country's demographic dividend is dissipating, with seriously adverse consequences for young India, asserts Shankar Acharya, former Chief Economic Adviser to the Government of India.
The income tax department on Wednesday conducted raids in multiple states as part of a pan-India tax evasion probe against certain registered unrecognised political parties (RUPP) and their alleged dubious financial transactions, official sources said.
The talk of governance reforms at public-sector banks seems to remain on paper, as a majority of them continue to be working with just a handful board members. Half of the board seat at these banks have been vacant. Ten of the 12 public-sector banks, even large ones like Punjab National Bank, Canara Bank and Union Bank of India - all except State Bank of India (SBI) and Bank of Baroda - don't even have a chairman. In 2014, while splitting the post of chairman & managing director (CMD), the government had decided to appoint non-executive chairmen at these banks. SBI, which has an executive chairman and four managing directors, was an exception.
State Bank of India (SBI), the country's largest lender, is likely to reduce interest rates on home loans and other retail loans by next week, to coincide with the start of the festive season.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
The federal agency filed its prosecution complaint against Ayyub before a special Prevention of Money Laundering Act (PMLA) court in Ghaziabad (Uttar Pradesh) on October 12.
'The package is for the distressed farmers who are committing suicide due to the severe drought,' Nitin Gadkari tells Arup Roy Choudhury and Sanjeeb Mukherjee.
'When my father travelled 5,000 miles to build a new home in Ireland, I doubt he ever dreamed that his son would one day grow up to become its leader.' Vaihayasi Pande Daniel/Rediff.com profiles Dr Leo Varadkar who will step down as Ireland's taoiseach (prime minister) next week.
'We want to send Indians on the moon and create history, but we don't want to accept the reality that is happening on earth.'
The NIA had registered three cases last year following information suggesting that terrorist outfits and their sympathisers abroad were operating as members of organised criminal gangs active in the northern states of India for targeted killings and violent criminal acts.
At a time when most foreign banks in India are looking at opening more branches, British lender Barclays has decided to close three of its nine branches in the country.
The Central Equipment Identity Register (CEIR) of the department of telecommunications (DoT) has traced 285,000 lost or stolen mobile phones and blocked 680,000 devices since being launched. However, recoveries remain relatively low at 20,771 devices. According to government estimates, around 50,000 mobile phones are stolen every month in the country. Launched nationwide on May 16, the CEIR is a part of the DoT's Sanchar Saathi portal. It is the primary government platform aimed at protecting mobile phone users from various frauds such as identity theft, forged KYC, theft of mobile devices and banking frauds.
Will a caste census make tens of millions desert Mr Modi?, asks Shekhar Gupta.
Since the bankcuptcy law came into effect from December 2016, with every quarter, the recovery rate has progressively been going down, notes Tamal Bandyopadhyay.
Grover had said a summons was issued by the special court in Ghaziabad against Ayyub for January 27 and therefore the matter be listed urgently.
With a 'tilak' on his forehead and a 'puja thali' in his hands, Shinzo Abe's picture attending the 'Ganga aarti' alongside Prime Minister Narendra Modi at the fabled Dashashwamedh Ghat in Varanasi in 2015 symbolised his 'India connect' and reflected the very special bond he shared with the country.
The Shiv Sena-Uddhav Balasaheb Thackeray on Saturday said Nationalist Congress Party president Sharad Pawar not favouring formation of a Joint Parliamentary Committee (JPC) to probe allegations against the Adani group will not lead to cracks in opposition unity.
The Supreme Court on Tuesday agreed to hear the petition of journalist Rana Ayyub challenging the summons issued to her by a special Prevention of Money Laundering Act (PMLA) court in Ghaziabad in a money laundering case lodged against her by the Enforcement Directorate (ED).
The BJP's outreach to Paswan, son of late stalwart Dalit leader Ram Vilas Paswan, underscores its push to bring him back into the NDA's fold after he walked out of the alliance in Bihar in the 2020 state assembly polls to campaign against Chief Minister Nitish Kumar, who was then the BJP's biggest ally.
Maharashtra was followed by Delhi with 33 cases from April 2005 to September 2008 and the money involved was little over Rs 47 lakhs (Rs 4.7 million), minister of state for Finance Pawan Kumar Bansal said in a written reply in Lok Sabha. In the current fiscal till September this year, 66 cases have been reported in the country where the money involved is more than Rs 100,000 while 46 incidents have come to notice where amount involved was less than Rs 100,000.
Residents in Kerala, Karnataka and Maharashtra continue to struggle as floods leave them in a watery hell.
It, however, lags other states on crucial parameters such as health care and rural poverty.
The ban prescribes Rs 5,000 fine for the first-time offenders and Rs 10,000 for the second-time offenders. Those who violate the ban for the third time will face a fine of Rs 25,000, along with a three-month imprisonment.
Electioneering ended in Madhya Pradesh at 6 pm except in Naxalites-hit districts of Balaghat, Mandla and Dindori, where campaigning drew to a close early at 3 pm.
NCP spokesperson and Maharashtra minister Nawab Malik said that AICC general secretary H K Patil was told about this scheduled meeting when he and other Congress leaders met Pawar in Mumbai recently.
About 150 years ago, in British India, big farmers in the western region of Maharashtra agitated over unfair lending practices and demanded a more fair and inclusive financing structure. People say this is where the seeds of the cooperative movement, now omnipresent in the country, were sown. Today, more than 800,000 cooperative societies thrive in India, with 300 million members, a number close to the population of the United States. Despite a reach this deep--grass roots as they call it--cooperatives do not occupy a lion's share in the Indian economy.
Amid the ongoing festival season and ahead of the elections for five state assemblies, the Centre is closely monitoring inflation, particularly in food items, to enable it to take steps to increase their supplies. "There is a complete no-nonsense attitude when it comes to food inflation, and instructions have been issued at all levels to be very sensitive to any possible price movements in any commodity," a senior official explained. Sources have said that all departments dealing with food items have been instructed to keep a close eye on all commodities and maintain a weekly record of their price movements.
Economists praise Das for his pragmatism and willingness to face challenges head on. And in doing so with the finesse of an able administrator.
The government has already announced infusion of Rs 10,086 crore in Bank of India, Rs 5,500 crore in Oriental Bank of Commerce and Rs 2,159 in United Bank of India.
The Adani group has exited the financial services business by selling its entire 90 per cent stake in Adani Capital and Adani Housing to private equity (PE) firm Bain Capital for Rs 1,440 crore. The total valuation of the Adani financial services business stands at Rs 1,600 crore. Gaurav Gupta, managing director (MD) and chief executive officer (CEO) of the Adani firms will hold the rest of the stake.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances