The venture is seen as a rival to the World Bank.
India's GDP expanded 13.5 per cent in the April-June quarter, the quickest pace in a year, to retain the world's fastest growing economy tag but rising interest costs and the looming threat of a recession in major world economies could slow the momentum in the coming quarters.
Markets ended lower for the third straight day on Tuesday weighed down by profit taking in rate sensitives with bank shares leading the decline after hopes of rate cut by the central bank faded.
Russia and the US are the major partners in the ISS programme, which also includes Canada, Japan and several European nations like France, Italy and Spain.
Without bringing sound governance and technical capabilities into the RBI's work, injecting new money sets the stage for a next wave of bad behaviour by banks, warns Ajay Shah.
The 50-share NSE Nifty settled lower by 76.05 points, or 0.88 per cent, at 8,615.25
Bajaj Auto was the top gainer in the Sensex pack, surging 3.95 per cent followed by Maruti Suzuki at 2.69 per cent.
The average salary received by students during campus placements for 2021-2022 was Rs 21.48 lakh per annum. The highest salary offered was $250,000.
Foreign money has been pouring into India's fast-growing e-commerce sector, with investors ranging from Japan's Softbank Corp to Singapore's Temasek Holdings.
...followed by financial services, IT, and sales and marketing.
SoftBank's investments in the past two years include $627 million in online-retailing marketplace Snapdeal and leading a $210 million funding round in taxi-hailing app Ola Cabs.
According to the survey carried out by IDC recently, India scores the highest (8.5) on the happiness quotient of its banking citizens, followed by Indonesia (8.33), New Zealand (8.27) and China (7.93).
The Rs 100 crore infusion will well-capitalise the company to drive its new strategy and growth plans.
The S&P BSE Midcap and S&P BSE Smallcap indices gained 0.4% and 1%, respectively
Bajaj Auto was the top loser in the Sensex pack, shedding around 2 per cent, followed by TCS, HDFC Bank, Axis Bank, Reliance Industries and Tech Mahindra. On the other hand, Tata Steel, Bajaj Finserv, Bharti Airtel and NTPC were among the gainers. NSE Nifty dropped 38.10 points to close at 15,689.80.
The Bharatiya Janata Party regime will have to make good on this election slogan to restore state-owned banks to health, says Rajiv Lall.
Despite a strong start to trade today, key benchmark indices retreated sharply from their higher levels following bouts of profit-taking amid fresh weakness in the rupee against the dollar.
India's exports may have touched an all-time high of $422 billion in 2021-22 but recession in key western markets and geo-political crisis due to the Russia-Ukraine war are expected to impact the growth of the country's outbound shipments in 2023. All the global trade promoting factors like political stability, movement of goods, adequate availability of containers and shipping lines, demand, stable currency and smooth banking systems are in disarray. Adding to the woes, COVID cases have again started rising in countries like China, Japan, South Korea and the US.
The London Commercial court has granted Tata Sons a period of 23 days, starting July 27th 2016, to apply to set aside the exparte order
On the Sensex chart, NTPC, Bajaj Auto, Tech Mahindra, ONGC and Maruti were among the major gainers.
'This was Indian land the PLA advanced on and occupied.' 'The Chinese then 'negotiated' a pullback of their troops a small distance on Indian territory even as Indian jawans draw back further into India from the forward position.' 'An apparently satisfied Indian government says this is a great move for peace! How great is that for China!'
The ruble has recouped most of its losses and become the top-performing currency globally. It continues to gain and is up 60 per cent against the US dollar from its lows in the first week of March. The ruble appreciated to 83 to the dollar intraday on Tuesday against a record low of 139 on March 7.
The largest private sector lender is also looking to open a full-fledged branch in China, where it already has a representative office, managing director and CEO, Chanda Kochhar said during the bank's 19th annual general meeting in Vadodara.
Tata Steel was the top loser in the Sensex pack, sinking nearly 10 per cent, followed by SBI, IndusInd Bank, HDFC, Dr Reddy's and M&M. NSE Nifty tumbled 188.25 points to 17,396.90.
Snapdeal has been on the deal street for raising fresh funds in order to muscle up for the growing competition in e-commerce.
BSE Sensex on Monday closed nearly 34 points higher at 26,350.17 with gains in realty, power, FMCG and oil & gas stocks amid sustained buying by domestic institutional investors.
Finance Minister Nirmala Sitharaman on Thursday said inflation management cannot be "singularly" left to the monetary policy as a majority of activities are outside its purview in the current context. Speaking at a seminar organised by economic think-tank Icrier, the finance minister said that both the fiscal policy and the monetary policy have to work together to contain inflation. Consumer price index (CPI) based inflation or retail inflation is ruling above the Reserve Bank's comfort level of 6 per cent since January.
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Diplomatic channels activated to keep India eligible for soft loans from World Bank affiliate, though rules show it's probably time we made way for the needier others.
Covering-up of pending short positions on expiry of the July derivatives contracts and a strengthening rupee propped up the markets at high levels
'For the common man, the economic conditions are not going to get better.'
Even as the Group of Seven (G7) price cap on Russian crude oil enters into force as of December 5, India has been assured it will continue to receive the existing deep discounts on Russian oil, for the time being, informed officials. "We have been assured by our Russian partners of uninterrupted crude supplies at the existing rates for the time being. "There were a lot of reports of changes in (India's) buying patterns after the global price cap took hold.
By driving a hard bargain with Russia in procuring crude oil at the lowest price possible, India is furthering the policy of G7 and Washington is "comfortable" with New Delhi over its approach in addressing issues relating to energy security, a top Biden administration official said.
Sensex catapults 1,241 points and Nifty vaults 382 points in two sessions in a row.
IIT Roorkee has so far seen the highest domestic salary rise Rs 80 lakh, up by a third from Rs 60 lakh last year.
Prime Minister Narendra Modi on Tuesday gifted a Gond art painting, a specimen of Sanjhi art form and a wooden hand-carved box to his fellow Quad leaders from Australia, the US and Japan, sources said.
SoftBank Group-backed Ola Electric is in talks with multiple global suppliers to build a battery cell manufacturing plant in India with a capacity of up to 50-gigawatt hours, sources said. As part of its broader electrification push, the firm plans to invest in companies with advanced cell and battery technology, alongside the 50 Gwh battery plant. Ola Electric needs 40 Gwh of battery capacity to power 10 million electric scooters annually. The remainder will be for its electric cars, which the company plans to manufacture in the future.
'People trust India and Indians a lot more than they trust China and the Chinese.'
India needs foreign exchange buffer reserves to insulate itself from exchange rate volatility as we have "no friends" for swap lines and Japan was the only country that helped during the taper tantrum in 2013, former RBI Governor Raghuram Rajan said on Tuesday. Participating in a virtual event organised by economic think tank NCAER, Rajan said during the taper tantrum in 2013, India asked for swap lines, and only country who helped was Japan. "We need this (foreign exchange) reserve buffer to insulate ourselves because we have no friends.
The Sensex has hit its lowest level since August 29, 2016 whereas the Nifty hit its lowest level since Sep 12, 2016
As regards India, FIIs have pumped in over Rs 34,400 crore in the Indian stocks in calendar year 2021.
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