In a drastic measure to stem any major disruption to the US economy as a result of the coronavirus outbreak, the Federal Reserve has cut its benchmark interest rate to almost zero and said it would buy USD700 billion in bonds. The covid-19 pandemic has sickened more than 156,000 people worldwide and left more than 5,800 dead. The death toll in the US stands at 68, while infections neared 3,700.
Governments that did not respect the central bank's independence would sooner or later incur the wrath of financial markets, ignite economic fire, and come to rue the day they undermined the regulatory institution, Deputy Governor Viral Acharya warned.
Flurry of economic reform suggests Modi realises his muscular nationalism script is getting jaded. Chances are he'll try for economic recovery but stick to what's worked so far, observes Shekhar Gupta.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Among executives who have been approached are former president and CEO of IndiGo Aditya Ghosh, Wolfgang Prock Schauer, current president and Chief Operating Officer at IndiGo and Sanjay Kumar, Chief Strategy and Revenue Officer of IndiGo.
The market breadth, indicating the overall health of the market was strong
Among other things, the agenda is likely to focus on increasing private investment, employment generation and giving relief to the farm sector
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
MCX Stock Exchange, set up by crisis-hit NSEL's promoters, on Friday appointed Saurabh Sarkar as CEO and announced plans for fresh capital infusion by its existing shareholders among measures to boost business.
Infosys is likely to report strong revenue growth in the fourth quarter of FY19 on the back of momentum in the big deal space.
2019, however, will be a bigger test as the firm continues to deal with rising attrition and margin pressure.
Several Premier League clubs have furloughed employees since the new coronavirus outbreak while others, such as West Ham United and Southampton, have said their players have accepted wage deferrals. While CA announced plans to furlough almost 80% of staff last week, putting them on 20 per cent pay until June 30 when it is hoped more will be known about how long government curbs to control the coronavirus will last.
There has been a decent growth in FDI proposals and new announcements in India to attract foreign investment.
A glance back at some important events that occurred in 2018.
.jpg)
The Reserve Bank released a report on 'Banking Structure in India -- The Way Forward' in August 2013, which covered issues such as consolidation of large-sized banks with a view to have a few global-sized banks and the desirability and practicality of having small, localised banks as preferred vehicles for financial inclusion.
A summary of sports events and sports persons, who made news on Saturday
The evolving RBI-government relationship, a reversal in the interest rate cycle and return to profitability will dominate bankers' conversation this year, says Tamal Bandyopadhyay.
IMF members will also be examining whether China's heavy intervention in the yuan market was befitting of a freely convertible reserve currency
Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
Although residential sales faced a major set back in Q2, they made a comeback with help of pent up demand.
An early choice will also allow Mr Rajan to do some hand-holding.
ICICI Bank extended yesterday gains, rising 10% in two trading sessions
.jpg)
Government divestment reached record figures after the financial crisis, at the same time as promoters were required to bring down their stake in companies to 75 per cent or less.
The finance ministry has ruled out the proposal for the appointment of a chief operating officer (COO) of the rank of deputy governor in the Reserve Bank of India (RBI), as the government feels no interim arrangements should be made for such high-profile appointments.
New strategy for Infosys by October, says Nandan Nilekani. New chairman's other priorities: Hiring CEO, reviewing Panaya probe reports.
Raghuram Rajan explains the rationale for his policy stance and other issues.
Chelsea manager Jose Mourinho plans to stick with the English Premier League club for 12 seasons despite accepting his 'worst contract' in six years.
.jpg)
Railway Board Chairman Arunendra Kumar said the discussions at the day-long meet involved an overview of five models of participative policy, framework of engineering, procurement and construction contracts and sectoral guidelines for foreign and domestic investment.
'... the government provides adequate cash and kind support for the poorest of the poor for survival... ...conditional cash and skilling support for the economically poor to raise their incomes to adequate levels... ...and make functional arrangements for providing unemployment allowance to the vulnerable poor during disasters like the present one.'
'We first need to acknowledge the truth.' 'We are trying to diminish the problem and say, everything is okay and green shoots are emerging.' 'Imagine you are a doctor and not getting accurate medical reports, how do you diagnose and treat the illness?' 'We are not dealing with a terminal illness here, we are dealing with BP and cholesterol, which are imminently curable.'
India's ailing banks need immediate attention.
Unless the Taliban goofs up in a big way, which seems highly unlikely, we are looking at a regime that will be around for quite a long while and present a level of governance that the puppets of the richest and most advanced countries failed to provide, predicts Ambassador M K Bhadrakumar.
Piyush Goyal has begun his term as railway minister with characteristic energy, but not all his new initiatives are being praised
Nepal's macroeconomic performance has been held back by the earthquakes and the recent unrest and disruptions to transportation and trade routes following the promulgation of a new constitution, the IMF said has said.
It would be a good idea to create independent oversight committees for each regulatory institution and indeed, even for their appellate bodies, says A K Bhattacharya.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
Rate sensitive sectors were among the top gainers with Tata Motors and ICICI Bank leading the gains on the Sensex.
The outgoing chairman believed in building for the future; for his successor, the challenge will be to maintain the momentum, says Ishita Ayan Dutt.
A Bank Investment Company to act as a holding company for state-owned banks would go a long way in minimising government interference and improving governance.
'Instead of writing NAM's obituary, India should reinvent it,' suggests Dr Rup Narayan Das.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances