Despite the Bharatiya Janata Party-led National Democratic Alliance throwing all its weight to snatch Jharkhand from the hands of a Jharkhand Mukti Morcha-headed coalition, the saffron camp suffered a debacle leaving the party's rank and file wondering what had gone wrong.
Following the lacklustre growth numbers in the second quarter (Q2FY25), economists believe the upcoming Union Budget for 2025-26 should focus on reforms that will stimulate consumption, manufacturing and spur employment. India's growth unexpectedly slowed to 5.4 per cent in the second quarter, due to low capital formation, weak consumption, besides adverse weather impact.
The finance minister also said that the merger would not result in any retrenchment but rather improve the benefit of the employees.
This is part of the first batch of Supplementary Demands for Grants for 2020-21 moved by Finance Minister Nirmala Sitharaman in the Lok Sabha.
The Reserve Bank of India's (RBI's) latest order on unsecured loans is set to hit the banking sector's growth in the near-term, cautioned analysts, as they see banks slowing down on aggressive retail lending. Besides, cost of funds for non-banking finance companies (NBFC) is expected to inch up as banks will pass on higher capital charge to NBFCs. "We believe the fallout of the RBI action will be mainly on growth, given the rising dependence on unsecured retail loans and lending to NBFCs for growth.
Four state-owned banks on Friday said the government has extended tenures of their top officials, including managing director and chief executive officers (MD and CEOs) of Punjab National Bank and Bank of Maharashtra. Besides, the government has extended the tenures of executive directors of Punjab National Bank (PNB), Union Bank of India and Central Bank of India. The government sent notifications to these banks on Thursday, informing them about the extensions given to the top-level officials.
He asserted that it was time to "throw such forces out" to protect "mati, beti, roti" (land, daughter, bread).
Alloting more funds for MNREGA and PM-KISAN could wipe out the entire additional money that the Centre may have for FY25.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
Tamil Nadu-based Lakshmi Vilas Bank (LVB) with pre-independence lineage on Friday lost its identity after its merger with the Indian subsidiary of Singapore's DBS Bank. The debt-ridden 94-year old old bank's fate was sealed with Union Cabinet headed by Prime Minister Narendra Modi approving Scheme of Amalagamation on Wednesday.
According to the cause list of July 10 uploaded on the apex court website, a five-judge bench headed by Chief Justice DY Chandrachud would consider in chambers the pleas seeking review of the October 17 last year verdict.
Lenders can now initiate recovery proceedings since the SC has lifted the standstill on asset classification, which protected stressed accounts from slipping into NPAs.
'India's top companies currently lack the organisational wherewithal to hire and train 2 million interns annually, given their current scale of operations and existing employee base.'
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
A host of lenders, including State Bank of India, IDBI Bank, Indian Bank and Andhra Bank, have lined up meetings of their asset-liability committees this week, to review their lending and deposit rates.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
'An in-house contest encourages employees to share yoga and well-being practices with their families.'
The government on Tuesday announced setting up of hubs to promote exports through e-commerce medium in public-private-partnership (PPP) mode and initially 10-15 hubs will be established. Finance Minister Nirmala Sitharaman said that these hubs, under a seamless regulatory and logistic framework, will facilitate trade and export-related services under one roof. "To enable MSMEs (micro, small and medium enterprises) and traditional artisans to sell their products in international markets, e-commerce export hubs will be set up in PPP mode," she said.
RBL Bank's interim chief executive officer (CEO) and managing director (MD) Rajeev Ahuja on Sunday tried to allay concerns around the health of the bank. He said events during the weekend are not linked to RBL's asset quality. The bank said Vishwavir Ahuja, its managing director (MD) and chief executive officer (CEO), had on Saturday proceeded on leave with immediate effect on medical grounds.
Besides the national capital, polling for the sixth round of the marathon seven-phase elections will be held Saturday in 14 seats in Uttar Pradesh, all 10 seats of Haryana, eight seats each in Bihar and West Bengal, six seats in Odisha, four seats in Jharkhand and one seat in Jammu and Kashmir.
Postings to places at an altitude above 1,000 metres but less than 1,500 metres, between 1,500 and 3,000 metres, and above 3,000 metres entail different rates of allowances -- the higher the location, the bigger the allowance, reveals Tamal Bandyopadhyay.
Ten central trade unions except Bharatiya Mazdoor Sangh are observing one-day general strike on Thursday to protest against various government policies.
'It is the first technology in history which is not just a tool, it is an agent.' Yuval Noah Harari on the dangers on AI.
Both candidates have shifted from their traditional constituencies - Sadhotra from Marh and Sharma from Akhnoor - after these two segments were reserved for Scheduled Castes.
The central government has asked public sector undertakings to dissuade their employees from participating in the bandh.
Nationalisation has served its purpose. It's time to move ahead, keeping majority ownership of the government in a few banks to serve the people, argues Tamal Bandyopadhyay.
Actor-turned-politician and sitting MP Locket Chatterjee has been fielded from Chunchura and another MP Nishit Parmanik from Dinhata. Also, a number of film personalities have been nominated as candidates in the high-stakes battle for West Bengal.
Fitch Ratings on Monday said the plan to privatise two state-owned banks in the current financial year ending March 2022 could face delays amid renewed challenges for the Indian banking sector due to the second wave of Covid-19. The government in the Budget announced plans to privatise two public-sector banks. NITI Aayog has been entrusted with the task of selecting the banks and one general insurance company for the privatisation.
The Bharatiya Janata Party-led National Democratic Alliance is planning to celebrate the Ram Temple consecration ceremony, being organised in Ayodhya, in a grand manner in Wayanad Lok Sabha constituency, represented by Congress leader Rahul Gandhi.
Over 6,900 corruption cases probed by the Central Bureau of Investigation were pending trials in different courts, 361 for more than 20 years, according to the latest annual report of the Central Vigilance Commission (CVC). Besides, as many as 658 corruption cases were pending CBI investigation, 48 for more than five years.
In days of smart, networked technology and no shame over collateral damage, what will blow up next -- cars, mobile phones, TV sets, refrigerators? And where?, asks Shyam G Menon.
The department of investment and public asset management is racing against time to launch the LIC IPO, which could become the largest-ever listing on the Indian bourses. This would lead to some delay in the strategic divestment of IDBI Bank.
'There is no immediate threat to the government, and they would prefer the growth agenda.'
The results mark a defining turn in the fortunes of several regional satraps, especially in the BJP, around whom politics in their states have revolved for decades.
Ten trade unions to go on strike to protest against changes in labour laws
Clash of the two richest titans, a celebrity and a 'royal', is on the cards in Himachal Pradesh's Mandi Lok Sabha constituency, known for electing erstwhile 'royals' maximum number of times.
This is the first tranche of capital infusion for the fiscal and more funds would be provided in future depending upon the performance of PSU banks.
Union ministers Arjun Munda, Piyush Goyal and Nityanand Rai and farmer leaders from Punjab will meet on Sunday for the fourth round of talks.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
