For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
The Reserve Bank of India (RBI) has given its approval to two Russian banks for opening special vostro account for rupee trade. Sberbank, JSC VTB - the largest and second largest bank of Russia - are the first foreign lenders to receive this approval after the central bank announced the norms on INR trade in July. Both lenders have branch presence in India. Earlier this month, state-run UCO Bank received the RBI's approval to open a special Vostro account with Gazprombank of Russia. While the Kolkata-based lender is in the process of opening the account, the bank has received requests from various foreign lenders for opening such an account.
The Central Bureau of Investigation had booked Shubham Shokeen and another former employee Aarti Mandal in the case on the basis of a complaint from the French embassy.
The Congress on Thursday accused the central government of evading a debate on India-China border face-off and asked why the Modi government has been running away from the issue.
Any passenger from these countries found symptomatic or testing positive for coronavirus would be quarantined, Mandaviya said.
'It has been an ongoing process, talking to the relevant ministries about eliminating leakages and curbing non-core expenditure in various schemes.'
'There are many things we need to work on.' 'At the heart of it is, one, the extent of inequality, which is not good for democracy and nation; two, a structural decline on how a country ought to function, how people should be held accountable, whose role is what.'
India has maintained communication with both Russia and Ukraine. It is time Narendra Modi steps up on the world stage and plays the role of peacemaker, suggests military historian Colonel Anil A Athale (retd).
Three Indian peacekeepers, who lost their lives serving under the UN flag last year, are among the 103 military, police, and civilian peacekeepers who will be honoured posthumously with a prestigious medal in the United Nations for their service and supreme sacrifice in the line of duty.
Almost 88 per cent youth have tried some of the other addiction between 16 and 18 years of age, a new survey has revealed.
Foreign portfolio investors (FPIs) turned net buyers in October after being net sellers in the previous month. In October, FPIs bought shares worth nearly Rs 8,430 crore ($1 billion) against net selling of Rs 13,405 crore ($1.6 billion) in September. Positive flows during three of the previous four months have pushed the domestic markets towards fresh all-time highs. At present, the Sensex and Nifty are less than 2 per cent shy of breaching record highs logged in October 2021. A rally in equity markets in the US and Europe is in hopes that the Federal Reserve may go soft on rate hikes after its November meeting.
Budapest will bid to host the 2024 Summer Olympic and Paralympic Games, the President of the Hungarian Olympic Committee and the Mayor of Budapest has announced in a joint letter to the President of the International Olympic Committee (IOC).
Climate and sustainable development financing, multilateral institution reforms, regulation of digital assets, the spillover effect on developing economies from actions of western central banks, energy and food security in the backdrop of war in Europe, and sanctions on Russia and their impact on the global economy are some of the agenda items that India will take up as President of G-20, Finance Minister Nirmala Sitharaman said on Tuesday. India will take over as President of the powerful international grouping on December 1 for a year. There will be around 200 meetings throughout the country, with the summit Heads of State meeting expected to be held in New Delhi next September.
A boat with three AK-47 rifles and bullets was found off the Raigad coast in Maharashtra on Thursday, officials said adding that there was no security threat.
India's economy continues to be robust, but downside risks such as rising crude oil prices, adverse weather conditions, and the global banking crisis outweigh the upside potential in gross domestic product (GDP) growth in the current financial year (FY24), the finance ministry said on Tuesday in its Monthly Economic Review for March. "We reiterate that downside risks to our official forecast of 6.5 per cent for real GDP growth in FY24 dominate upside risks," the review said. "Opec's surprise production cut has seen oil prices rise in April, off their lows of low-seventies per barrel in March.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
'Higher than expected inflation in the US or the European Union, faster than expected tightening by the major central banks, break out of a war in Europe, and withdrawal of portfolio equities from the emerging markets are factors which can result in equity market corrections.'
Expect heightened volatility and stress to hit the markets. Caution may be the need of the hour, alerts Akash Prakash.
'The Indian economy and the Indian financial sector today remain resilient and much better placed.'
He said that US intelligence shows that Chinese President Xi Jinping has instructed his nation's military to 'be ready by 2027' to invade Taiwan.
What's different this time is that global financial stress -- which has its genesis in four policy choices made in recent years -- is juxtaposed with a more resilient real economy, observes Sajjid Z Chinoy, chief India economist at J P Morgan.
The International Monetary Fund (IMF) has said India and China will account for half of the global economic growth in 2023, as the multilateral agency retained its growth forecast for Asia's third-largest economy for 2023-24 (FY24). "India remains a bright spot. Together with China, it will account for half of global growth this year, versus just a tenth for the US and euro area combined," the IMF said in its latest update to the biannual World Economic Outlook. Growth in India is set to decline from 6.8 per cent in 2022 (FY23) to 6.1 per cent in 2023 (FY24) before picking up to 6.8 per cent in 2024 (FY25), the global lender said while citing "resilient domestic demand despite external headwinds".
Russian President Vladimir Putin told a summit of the Shanghai Cooperation Organisation (SCO) on Friday that the group should consider staging its own major sporting competition.
Benchmark equity indices Sensex and Nifty reversed their early gains to close lower on Wednesday due to selling in oil & gas, banking and IT stocks amid weak trends in European markets. The 30-share BSE Sensex declined by 372.46 points or 0.69 per cent to close at 53,514.15, extending its falling streak to a third day. The index opened higher and touched the day's high of 54,211.22 amid gains in Asian markets.
From witnessing the dawn of Independence to playing host to annual Republic Day celebrations for over seven decades, the historic Rajpath in India's power capital has seen the colonial rule and basked in the glory of a free, democratic nation.
The Asian Football Confederation (AFC) said it welcomed consultations world governing body FIFA's plan to conduct a feasibility study into staging the World Cup every two years instead of every four.
Eight of the newly named cardinals are from Europe, six from Asia, two from Africa, one from North America, and four from Central and Latin America.
Jaishankar, who arrived in Santo Domingo on his first official visit to the Dominican Republic, also said that India has seen a dramatic expansion in connectivity, contacts, and cooperation across the region.
The Uttar Pradesh Defence corridor is estimated to attract Rs 20,000 crore investment and create 250,000 jobs.
Global rating agency S&P on Tuesday said even though the US and the Euro zone are headed to recession, India is unlikely to face the impact given the "not so coupled" nature of its economy with the global economy. "Indian economy is a lot decoupled from the global economy than we normally think of, given its large domestic demand, even though you (India) are a net importer of energy. "But you have enough forex reserves on one hand and your companies have managed to maintain healthy balance sheets," Paul F Gruenwald, S&P global chief economist and managing director, told reporters in Mumbai.
Congress leader Rahul Gandhi told British parliamentarians in London on Monday that functioning microphones in the Lok Sabha are often silenced against the Opposition.
'Continue with your SIPs to get the benefit of lower average prices in this challenging market environment.'
Gold prices are struggling and are down 18 per cent from their March highs. But stock prices have fallen even more. As a result, the precious metal has begun to outperform equities - both in the domestic market and international markets. Gold prices are up 2.6 per cent in the domestic market in the current calendar year (CY22) so far, according to the World Gold Council (WGC), compared to a 1.7 per cent decline in the Sensex year-to-date (YTD).
The Russian-Ukraine war can hit the global supply chains that are already constrained due to the pandemic and the worst impact will be on ongoing chip shortage because the warring nations brutally control supplies of key raw materials that go into making semiconductors, warns a report. Since Russia controls as much as 44 per cent of global palladium suppplies, Ukraine produces a significant 70 per cent of the global supply of neon -- the two key raw materials that go into making chips. The markets can expect the global chip shortage, that began with the pandemic, to worsen if the military conflict lingers on, says a Moody's Analytics report on Friday.
Chief economic advisor V Anantha Nageswaran on Tuesday said Indian economy will grow at over 7 per cent, down from above 8 per cent of growth rate projected in January. He, however, said that the economic momentum and the animal spirits are "unmistakable". "India's own growth rates have come off the projections made in January down to about 7-plus per cent for the current financial year," Nageswaran said speaking at Global Fintech Fest event in Mumbai.
'There is a cost to war.' 'The West knows that and so does Putin.' 'The point is, how much of the cost are both sides willing to pay?'
The Australian prime minister also said that he briefed Prime Minister Modi on AUKUS - a trilateral security arrangement between Australia, the UK and the United States that was unveiled in September 2021.
The RBI has shelved its plan for polymer notes more than a decade after it invited interest from global manufacturers for one billion pieces of Rs 10 denomination polymer banknotes, reveals Tamal Bandyopadhyay.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
IPO market hopes to come out of slump in festive season, reports Sundar Sethuraman.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances