India's outward Foreign Direct Investment (FDI) nosedived to $11.12 billion in January-June (H1 2023) from $23.57 billion in the same period last year, indicative of the slowdown in the global economy, according to the Reserve Bank of India (RBI) data. The outward FDI expressed as the total financial commitment, has three components, namely equity, loan and guarantees. The sharp contraction in the commitments (outward FDI) was prominent in the April-June 2023 period.
A day after their Test careers met with a dead end, veteran batters Cheteshwar Pujara and Ajinkya Rahane on Friday soldiered on for Saurashtra and Mumbai respectively with contrasting results in the Vijay Hazare Trophy in Bengaluru.
Reflecting subdued global economic growth, India's outward foreign direct investment (FDI) fell by 33.3 per cent sequentially to $1.21 billion in August, compared to over $1.82 billion in July.
Cheteshwar Pujara continued his good form in Ranji Trophy as he slammed his second successive century as Saurashtra dominated their Elite Group A match against Manipur.
A summary of the Vijay Hazare Trophy matches played on Saturday.
Roundup for Ranji Trophy matches played on Friday
Interrupting a two-month streak of decline, outward foreign direct investment (FDI) rose sequentially to $1.85 billion in July over $1.07 billion in June, an increase of 73 per cent. However, it was lower than the $2.18 billion in July last year, according to the Reserve Bank of India data. Outbound FDI, expressed as financial commitment, has three components - equity, loans, and guarantees.
Hardik gives balance to the team, vital for India in World Cup: Sanjay Bangar
Veteran batter Cheteshwar Pujara slammed his second hundred of the ongoing Ranji Trophy season, guiding Saurashtra to a comfortable 242 for four against Rajasthan on the opening day of their Group A match, in Jaipur on Friday.
Himachal Pradesh seam bowler Sidharth Sharma died in a hospital in Vadodara after a brief illness.
A round-up of Day 2 of the Ranji Trophy matches played on Sunday
Saurashtra's middle-order batter Sheldon Jackson followed in senior teammate Cheteshwar Pujara's footsteps, completing his century on day two of their Ranji Trophy Group A tie against Rajasthan to guide the defending champions to a 300-plus total in Jaipur on Saturday.
A man and his brother-in-law were killed and six others, including a pregnant woman, were injured when a person who works as a bank security guard opened fire on them from his double-barrel gun after an altercation over pet dogs in Indore city of Madhya Pradesh, the police said on Friday.
The Reserve Bank is planning to extend wholesale Central Bank Digital Currency (CBDC) for transactions for interbank borrowing or call money market, sources said on Tuesday. The pilot in the wholesale segment, known as the Digital Rupee -Wholesale (e-W), was launched on November 1, 2022, with the use case being limited to the settlement of secondary market transactions in government securities. "RBI is now planning to go into the interbank borrowing market.
Yuzvendra Chahal might be despondent after the selectors snubbed him for the T20I series against Australia, but the leg-spinner channelised his angst positively with a six-wicket burst against Uttarakhand.
The slowdown in corporate revenue growth over the last one year has begun to reflect in India Inc's capital expenditure, or capex. The country's top listed companies are going slow on fresh investment in capacity expansion, in line with a deceleration in their top line growth. The combined fixed assets of the listed companies, excluding banking, finance services and insurance (BFSI) and the government-owned oil & gas firms, were up 10.1 per cent year-on-year (Y-o-Y) during April-September 2023 (H1FY24) - the slowest in 18 months - as against 21.1 per cent Y-o-Y growth in H2FY23 (October 2022-March 2023) and 11.6 per cent growth in the April-September 2022 period (H1FY23).
The first quarter of calendar 2023 will see new faces heading four large public-sector banks -- Canara Bank, Bank of Baroda, Indian Overseas Bank, and Bank of India.
Commemorating 75 years of India's independence, SBI has launched a 75-day Utsav Deposit Scheme, offering 6.10 per cent for fixed deposits. Senior citizens will get an additional 0.50 per cent and the offer is on until October 30, SBI said.
'Krunal Pandya is like my brother, and brothers do fight. We are playing with one aim, which is to win games for LSG.'
Ahead of the ICC T20 World Cup 2023, the Karnataka State Cricket Association (KSCA) has undertaken the renovation works that are essential prior to the quadrennial extravaganza.
Half the stocks in the Nifty 100 index have seen a reduction in their target price by analysts this year due to fears of lacklustre earnings growth and uncertain economic environment. Adani Green Energy, FSN E-Commerce (Nykaa), Adani Ports & SEZ and Indus Towers are among the companies that have seen the maximum cut in TPs during the first three months of calendar 2023, shows Bloomberg data. On the other hand, Canara Bank, JSW Steel and Bank of Baroda have seen the highest increase in TPs.
Narayan Jagadeesan followed up his double ton in the previous game with a magnificent triple century to help Tamil Nadu declare their first innings
Spurred by Chirag Jani's a five-wicket haul, defending champions Saurashtra scripted their first knockout win of the season with a 238-run thrashing of Vidarbha on the third day of their Ranji Trophy Elite Group A match in Nagpur on Sunday.
Gurucharan Singh's Dhawan Creative apparently clocked trades 10 times its capital in a few months.
Investment growth moderated slightly in the economy during the first quarter (Q1) of the current financial year (2023-24, or FY24), notwithstanding the front-loading of capital expenditure (capex) by the Centre. This was also the case despite a pick-up in demand during the period after two dismal consecutive quarters. Although growth in gross fixed capital formation (GFCF), representing investment, fell to a five-quarter low of 7.96 per cent, the comparison with the first two quarters of the previous year is a bit askew due to the low year-on-year (Y-o-Y) base of those periods.
Even as competition to garner deposits is intensifying into a tight liquidity and high credit growth scenario, Bank of Baroda (BoB) has hiked deposit rates for the second time in the current quarter. Also, private lender IDBI Bank has come out with a limited period offer on its term deposits. It is offering 7.6 per cent interest rate for a tenor of 700 days, effective from December 2022.
Bidyasagar Behera used to sell newspapers for a living. But that did not stop him from pursuing his education.
Ajit Agarkar was linked to the chief selector's post in the past as well, but this time, he is likely to get the high pressure job.
It was another Ranji Trophy match at Bansi Lal Stadium that turned out to be farcical contest as Baroda beat Bengal by 21 runs with 40 wickets falling well inside two days.
Go First's lenders have agreed in principle to support the airline's request for Rs 400 crore interim funding to restart its operations. The airline temporarily halted operations on May 2, and its insolvency plea was admitted by the National Company Law Tribunal (NCLT) on May 10. On Wednesday, the airline's resolution professional Shailendra Ajmera submitted a business plan and a request for over Rs 400 crore funding to airline's committee of creditors (CoC).
The rally in PSBs, analysts feel, was more a knee-jerk reaction to the development, and the actual benefits will start to accrue once the addition takes place in 2024. "The actual benefit for banks from the inclusion in JP Morgan's EM Index will accrue from June 2024 onwards. "Until then, the larger fundamentals of the market will dictate the moves. "Once the initial euphoria subsides, bond markets will look to global cues which may trigger fresh selling," said Siddharth Khemka, head of retail research, Motilal Oswal Financial Services.
JP Morgan's decision last week to include Indian government bonds in its Government Bond Index-Emerging Markets (GBI-EM) index and the index suite from June 2024 may be a sort of blessing for India, as the move is estimated to result in an inflow of $25 billion of foreign portfolio investments into the country. The development comes at a time when the spread between the benchmark 10-year government of India bond and the 10-year US government bond has declined to its lowest level in more than 17 years. Low yield spreads make Indian bonds less attractive to foreign portfolio investors (FPIs).
A round-up of Ranji Trophy matches played across India on Monday
'It was beautifully played by an American band.'
Indian state-owned Bank of Baroda said on Monday it would cut its prime lending rate by a quarter percentage point to 10.75 per cent from June 1.
Despite the objections raised by Reserve Bank of India and Election Commission, India's politics has been funded anonymously and it is time to end this, asserts Aakar Patel.
The finance ministry on Thursday sought to clarify that there was no distress in household savings and the data indicated that changing consumer preference for different financial products was the real reason for the change in the pattern of household savings. The clarification comes in the backdrop of Reserve Bank of India data showing that household net financial savings rate is at its lowest in decades, at 5.1 per cent of GDP in FY23 compared to 7.2 per cent of GDP in FY22. The divergence in the data for household gross financial assets and liabilities is not a cause for concern for the government, as the loans have largely been taken to buy real assets or automobiles, the finance ministry said.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.
Aviation watchdog DGCA will conduct a special audit of grounded airline Go First's facilities in the national capital and Mumbai from July 4 to 6 before approving the revival plan for resumption of flights, according to a senior official. Cash-strapped Go First stopped flying on May 3 and is undergoing a voluntary insolvency resolution process. Meanwhile, a senior executive at the airline expressed hope of resuming ticket sales -- which was paused by DGCA following the grounding of the carrier -- from July 7 or July 8 and subsequent relaunch of the operations from middle of next month.
The Maharaja Sayajirao University of Baroda (MSU) in Vadodara on Wednesday cancelled a seminar after members of the Akhil Bharatiya Vidyarthi Parishad (ABVP) objected to the participation by a professor from Jamia Millia Islamia university.
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