Six bills, including the one to amend the Jammu and Kashmir Reorganisation Act, were introduced in the Lok Sabha on Wednesday amid protests by opposition members over the violence in Manipur.
Announcing her appointment, IMF Managing Director Christine Lagarde hailed the Mysore-born Gopinath as "one of the world's outstanding economists with impeccable academic credentials, a proven track record of intellectual leadership and extensive international experience".
Gold, the safest haven amid the ongoing uncertainty, also emerged as one of the most lucrative investment options in financial year 2022-23 with an impressive return of 16.1 per cent in rupee terms, and 2.3 per cent returns in dollars. And, had it not been for the very high inflow of smuggled gold and the huge discount prevailing in the market due to high prices, the returns in gold would have been much higher, analysts said. The precious metal has consistently been delivering positive returns in India since 2016.
Strong dollar will impact financial system in India.
Expressing reservations on some clauses in the two bills introduced in the Lok Sabha relating to a federal agency and Unlawful Activities (Prevention) Amendment, the Communist Party of India-Marxist on Wednesday demanded the proposed legislations be referred to the Standing Committee of Parliament.
If you don't have a specific goal, but want intermittent liquidity, then ladder your FDs, that is, invest in FDs of varying maturities, such as one, two, three, five or even 10 years. Laddering ensures FDs mature at regular intervals.
The Financial Stability and Development Council members include heads of regulatory bodies like RBI, Sebi and Insurance Regulatory Development Authority.
HCL Tech was the top loser in the Sensex pack, shedding around 4 per cent, followed by Infosys, Dr Reddy's, TCS, Reliance Industries, Tech Mahindra and NTPC. NSE Nifty slumped 163.45 points to 14,557.85.
Heavy unwinding by foreign portfolio investors and lacklustre equities dampened the sentiment
Fed move based on US economic recovery, which should boost India's exports, narrow CAD and help curb 'imported' inflation
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
Edtech unicorn Vedantu has laid off 424 employees, about 7 per cent of its workforce, according to a blog post shared by the Bengaluru-based firm. This comes as the focus in the edtech space has shifted to profitability, according to experts. The lay-off comes days after the company fired 200 contractual and full-time employees, at a time when offline schools and colleges are opening up and learning is evolving into a more nuanced blended delivery model with a mix of online and offline.
Indian rupee, which earlier this week touched an all-time low, is likely to remain under pressure and may test new levels as a fallout of the US Federal Reserve indicating more interest rate hikes, experts said. The aggressive rate hikes will dampen demand and increase the possibility of a recession in the US. This could accelerate the pace of capital outflows, weaken the rupee and raise the threat of imported inflation.
Indian economic growth hit a low of five per cent in the financial year ended March 31,2013 and further slowed in the first quarter of FY14.
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
Rafa Nadal and Roger Federer set the stage for a grand finale to the men's season on Saturday when they demonstrated just what seperates them from the bunch to seal a dream final at the ATP World Tour Finals.
Tourism is badly affected. Entire apple orchards have been washed away. 2 million people are threatened with loss of livelihood.
The new Guv needs to focus on structural inflation problems.
The rupee had plunged by 48 paise, logging its biggest fall in more than five weeks, to close at over one-month low of 61.13 against the greenback on Monday following demand for the US currency from importers.
Economists warn of the impact that a Fed rate rise could have on emerging economies.
The broader markets ended lower with mid-caps and small-caps falling over 1 per cent on the BSE.
Markets slumped for fourth straight session this Monday as investors braced for the central bank meeting with caution.
Equities went into a tailspin on Wednesday after the Reserve Bank surprised the market with a mid-cycle rate hike in a bid to tame soaring inflation.
The 30-share Sensex ended down 151 points at 20,709 and the 50-share Nifty ended down 51 points at 6,167.
Samvat 2071: Sensex drops most in 4 years
A United States judge has reserved his orders on submissions by the Congress party that the 1984 anti-Sikh riots case filed against it by a rights group in New York be dismissed as the Manhattan court does not have jurisdiction over the case.
Investors have scaled back their allocation to equities as pessimism has reached "dire" levels due to cloudy economic outlook, according to the latest Bank of America (BofA) monthly global fund manager survey that covered nearly 300 money managers with combined assets of $800 billion. The survey showed that the expectations for global growth and profits are at all-time lows and cash levels are at highest since the 9/11 attacks. Interest rate hikes by central banks, the unwinding of an easy monetary regime, disruptions in global supply chains, and fears of recession have heightened market volatility since the beginning of the year.
Many banks' profits will take a hit and a few of them could even end up being in the red because of treasury losses, triggered by a sudden spike in government bond yields in the rising interest rate cycle, notes Tamal Bandyopadhyay.
The rupee plunged 90 paise to close at an all-time low of 80.86 (provisional) against the US dollar on Thursday after the US Federal Reserve's interest rate hike and its hawkish stance weighed on investor sentiments. Forex traders said the US Fed's rate hike and escalation of geopolitical risk in Ukraine sapped risk appetite. Moreover, the strength of the American currency in the overseas market, a muted trend in domestic equities, risk-off mood and firm crude oil prices weighed on the rupee.
After trading hours, the government said the June-quarter current account deficit widened to $21.8 billion from $18.1 billion in the previous quarter.
Former World Championship silver medallist L Sarita Devi, who lost to five-time world champion M C Mary Kom in the trials, was included in the Indian women's boxing team for the November Asian Games as a reserve.
The 30-share Sensex ended down 249 points or 0.94% at 26,304 levels.
Stock markets opening with losses too put pressure on the domestic unit.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
Current account deficit could ease to around 3 per cent in the current fiscal year from prior estimates of about 4 per cent due to sharp drop in global commodity prices.
The RBI had opened special swaps windows to attract deposits from non-resident Indians and allow oil-marketing companies to source dollars.
He takes over at Mint Road at a time when the governor's job is even less easy than it is normally.
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.
The central bank also asserted that the country is ready for the tapering of the US Federal Reserve's bond purchases.
India's benchmark index, Sensex ended on a flat note after a volatile trading session as investors braced for the US Federal Reserve policy meeting with caution.
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