US President Barack Obama has nominated Janet Yellen to head the Federal Reserve Board, describing her as one of America's "foremost economists and policy makers".
In 1910 the who's who of Wall Street met in total secrecy in an American town to work towards the first draft of the bill that would finally give the United States a central bank.
Among Sensex firms, Bajaj Finserv, Bajaj Finance, Tata Steel, Reliance Industries, Sun Pharma, Tata Motors Passenger Vehicles, Axis Bank and Infosys were among the major gainers. Bharti Airtel and Asian Paints emerged as the laggards from the pack.
The best way for India to prepare is by preserving and strengthening the RBI's hard-won credibility, point out Rajeswari Sengupta and Vaishali Garga.
'To fill these seats, eligibility is being diluted. We are compromising merit and producing degree holders instead of good doctors.'
Private-sector lender Federal Bank on Friday announced that New York-based Blackstone will invest Rs 6,196.51 crore in the bank through its affiliate Asia II Topco XIII Pte Ltd via a preferential issue on a private placement basis.
Enforcement agencies have highlighted risks related to money laundering and terror financing, prompting closer scrutiny of crypto platforms operating in India.
If all goes well, the new season of ISL may start in the first week of February.
Tech Mahindra, Adani Ports, HCL Tech, Tata Consultancy Services and Bajaj Finserv were also among the gainers. However, Trent, Eternal, UltraTech Cement and NTPC were among the laggards.
Mundane as it may seem, this is in some ways a metaphor for the challenges facing the nation, argue Arvind Subramanian and Devesh Kapur in their new book, A Sixth Of Humanity.
But selectively, with regulatory scrutiny and special approval, points out Tamal Bandyopadhyay.
The impact of the US Federal Reserve's move to cut the benchmark interest rate will be muted for India as it was mostly priced in, Chief Economic Advisor V Anantha Nageswaran said on Thursday. He said that the Indian stock market is already attracting investor interest and overall the rate cut is positive for emerging markets.
Mint Road's proposals on banks' M&A funding are cautious even as entrants root for more elbow room, and weigh business models.
From the Sensex pack, Bharti Airtel, Titan, Tata Consultancy Services, Hindustan Unilever, Infosys, Nestle, Reliance Industries, Mahindra & Mahindra, HDFC Bank and Tata Motors were the biggest gainers. However, IndusInd Bank, Bajaj Finance and UltraTech Cement were the laggards.
'I realised why the farmers and the rural folks are going for Trump. They are so insecure and vulnerable that anybody who is throwing a line of hope to them, they seize it.'
Investors should be mindful of the high volatility in cryptos: Bitcoin has fallen more than 80 per cent in past corrections.
At a time when Indian football is seeking a radical overhaul, the Super Cup, starting in Goa from Saturday, could act as a catalyst for clubs to build their teams, prepare their players, get valuable match time, and keep their hopes of continental qualifications alive.
'From tariff tensions and border skirmishes to unrest in West Asia.' 'The worst may be behind us. But any further upmove will now have to come from earnings.'
But the big question that keeps striking the mind is, if Indian tennis system can actually claim this win as its own. The answer is: partially.
S&P Global Ratings on Tuesday cut India's GDP growth projections to 6.5 per cent for the next fiscal as it expects that economies in the APAC region will feel the strain of rising US tariffs and pushback on globalisation. In its Economic Outlook for Asia-Pacific (APAC), S&P said despite these external strains, it expects domestic demand momentum to remain solid in most emerging-market economies.
Last fortnight, State Bank of India Chairman C S Setty lifted the veil on a subject long spoken of in corporate corridors: Why can't our banks finance mergers and acquisitions (M&As)? Change is in the air: Indian Banks' Association (of which Setty is the chairman) is to "make a formal request" to Mint Road to make way for it. Thus far the exclusive turf of foreign banks even though its funding remains offshore - as in, it's not on these entities rupee-book (and a few select shadow banks) - a most lucrative segment in the investment banking suite, M&As, will be homeward-bound.
She was born in Farrukhabad and went to the US to pursue her master's degree and a Ph.D.
Simplifying GST rates, removing exemptions, easing disputes, and speeding up refunds can boost investment in India and offer the best reply to Trump's tariffs, observes V S Krishnan, former member, Central Board of Indirect Taxes and Customs.
The disbursement of the second tranche comes on a day when the International Monetary Fund is holding virtual discussions on Pakistan's upcoming budget, as the visit of its mission to Islamabad was delayed due to security concerns in the region.
Pakistan on Tuesday increased its defence budget by 20 per cent, allocating PRs. 2,550 billion ($9 billion) for the fiscal year 2025-26, amid tensions with India.
All sectoral indices ended lower. BSE Telecommunication tanked 2.18 per cent, metal (1.77 per cent), auto (1.70 per cent), energy (1.64 per cent), oil & gas (1.59 per cent), commodities (1.39 per cent) and financial services (1.37 per cent) were the major laggards.
'Right now, silver -- and especially platinum -- are very cheap compared to gold. If I were buying today, I would choose platinum.'
One hundred years ago, a group of 10 revolutionaries carried out an operation that shook the British Empire. Utkarsh Mishra revisits the 'Kakori Conspiracy Case', a turning point in the armed struggle for independence.
'Maharashtrians are facing a dual battle -- numerical battle with North Indians and financial battle with Gujaratis and Marwaris.' 'This has created anxiety about survival and ownership over Mumbai and Maharashtra.'
Yellen is currently Vice Chairman of the Board of Governors of the Federal Reserve System.
If indeed we want the board to manage the RBI, probably the government should take a close look at the US Federal Reserve system which has a two-part structure - a central authority in Washington, DC, and a decentralised network of 12 Federal Reserve Banks located throughout the country, says Tamal Bandyopadhyay.
Noting that these three Cs haunt Indian education today, the Congress Parliamentary Party chairperson said in an article that this "carnage" of India's public education system must end.
The US Federal Reserve has announced to maintain its bond purchase tapering programme.
'Investors with foreign currency-denominated goals, such as foreign education or foreign travel, should go for US equity funds.'
'When interest rates rise, the NAVs of these funds will fall.' However, they won't fall as much as longer-duration funds.
State Bank of India (SBI), India's largest lender, is looking to raise Rs 10,000 crore through 15-year infrastructure bonds as early as next week, said multiple sources aware of the development. Market participants expect a coupon in the range of 7.15-7.18 per cent for SBI's upcoming infrastructure bond issuance. This comes as demand for longer-tenor papers has remained strong in recent domestic capital market offerings.
US's terrible political and economic leadership will ultimately cost the dollar its value. India must act early to avoid being dragged down, suggests R Jagannathan.
Observing that US' economic recovery is proceeding at a moderate pace, US Federal Reserve Board chairman Ben Bernanke said on Wednesday the central bank might need to intervene if policymakers enact short-term spending cuts that hurt growth.
Mint Road, on December 21, 2023, flagged the role of self-regulatory organisations (SROs) in strengthening the compliance culture in regulated entities (REs) and providing a consultative platform for policymaking. It also decided to issue an omnibus framework for SROs.
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