BSE Sensex ended at 25,549.72 up by 321 points or 1.27% and the Nifty ended 7624.40 up by 97.75 points or 1.30%.
'Today, our hearts are with India. Jill and I send our deepest condolences to the families who lost loved ones during the bridge collapse and join the people of Gujarat in mourning the loss of too many lives cut short,' Biden said.
For easy and wide access, the government plans to market the bond through post offices and various brokers.
This is a third of Rs 33,992 crore debt that was to be passed on to the new owner during last year's failed divestment process.
Budget should be a platform for govt to take bold steps.
The Opposition has alleged that the Rashtriya Swayamsevak Sangh runs the Narendra Modi government.
You can make all the speeches you want, you cannot argue against 39 straight months of slowing, observes Aakar Patel.
Exuding confidence in sustaining the tempo of credit growth, public sector bankers said on Wednesday that consolidation in the public sector bank (PSB) space has given them a robust base to scale. The privatisation of PSBs can be done through divestment of government stake to a wider base of investors without haste. There is nothing to worry about at this point (high credit offtake) as underwriting standards and risk management are much better.
The engineering and construction (E&C) sector delivered an excellent performance in the last two financial years (FY2021-22 or FY22 and FY23's nine-months) and there's reason to believe that FY24 will also see outperformance. The sector has emerged from the pandemic with stronger balance sheets and more rational cost structures. It has a big order book and it should see new order flows accelerate in FY24.
The most pressing issue facing the financial sector is the rising stock of non-performing assets in the banking system
'Both Hindus and Muslims should work together to construct both the masjid and mandir.'
'Thankfully, most investors in India have now seen through this false narrative and are once again deploying their hard-earned money.
The central bank can directly print money and finance the government, but it should avoid doing so unless there is absolutely no alternative, former RBI governor D Subbarao on Wednesday said while pointing out that India is 'nowhere' near such a scenario. In an interview with PTI, Subbarao suggested that to deal with the second wave of COVID-19 induced slowdown in the economy, the government can consider Covid bonds as an option to raise borrowing, not in addition to budgeted borrowing, but as a part of that.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
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.
The maiden bilateral meeting between President Joe Biden and Prime Minister Narendra Modi on Friday will further strengthen the US-India strategic ties and allow the leaders to discuss the situation in Afghanistan and how the two countries can work together to fight terrorism, a senior White House official has said.
The beauty of the relationship between the two countries is that they agree to disagree and perhaps that is the strongest bond between the two governments and their relationships, notes Rup Narayan Das.
The longer it takes for RBI and the government to stabilise monetary conditions in the economy, the more severe and long lasting will be the damage caused to various sectors of the economy, especially to the informal sector, says Rajeswari Sengupta. Rajeswari Sengupta discusses the impact of this move on money supply, output and prices, in the short- and medium-term.
Leading the Opposition attack over the Adani-Hindenburg issue in the Lok Sabha, Rahul Gandhi on Tuesday linked Gautam Adani's meteoric rise to Prime Minister Narendra Modi's coming to power and said "magic" happened after 2014 that propelled the businessman from the 609th to the second spot on the global rich list.
Kerala-based journalist Siddique Kappan, who was recently granted bail by the Supreme Court, will continue to remain in a jail in Lucknow as a case being probed by the Enforcement Directorate against him is still pending, officials of the prison department said.
The BJP also announced a Rs 5 meal scheme for all, named after religious guru Anukul Chandra, and setting up of a Regional Institute of Medical Sciences hospital in Agartala.
India in the past rejected similar reports.
Chief Justice of India Ranjan Gogoi on Monday said it was in "our best interest" to heed the advice of the Constitution as not doing so would result in a "sharp descent into chaos".
.jpg)
Fund managers will be given more flexibility to invest in corporate bonds.
Reserve Bank Governor Shaktikanta Das on Wednesday said underlying economic activity in India continues to be strong, but external factors will cause some "dent" to the economy. Speaking at the BFSI Insight Summit 2022 organised by Business Standard, Das said the RBI tracks 70 fast moving indicators and most of them are in the "green box". It is the external sector, mired by a fear of recession or clear visibility about slowing growth in a large part of the world, where the challenges lie, he said, adding that the impact of external demand will "dent" the economy.
The Sheikh Hasina-Narendra Modi summit put India-Bangladesh ties on a firmer pitch. Brigadier S K Chatterji (retd) takes stock.
'In equities, it has diversified portfolios.' 'So the short-term movement of individual stocks does not impact them.'
India must be prepared for a big, fat fuel import bill in FY23 - barring any further avatars of the Covid virus - as refiners crank up runs, or crude processing rates, to meet the growing demand for fuels, and crude prices soar. Capacity additions by an Indian state-run refiner will reinforce the need for foreign crude. Demand for all fuels is expected to increase by 3-8 per cent next fiscal from 2021-22, reaching pre-pandemic levels, according to analysts and industry experts.
'A strong foreign exchange reserve is the best safety net against global spillovers.'
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
'The desire to force others to act according to the way we want the world to be is strong in our parts. This is particularly so because we have not fully internalised the idea of individual liberties. The fact is that our moralism will get us into trouble,' says Aakar Patel.
The MEA said at Lumbini, the prime minister will visit the sacred Mayadevi temple to offer prayers.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
The central bank will auction Rs 220,00 crore (Rs 220 billion) of government cash management bills every Monday, it said in a statement, without specifying for how many weeks the sales would last.
Finance minister Nirmala Sitharaman on Monday said windfall tax on petroleum products, crude is not ad hoc, but being charged in regular consultation with the industry. Addressing an event organized online, the minister said it is unfair to call windfall tax as ad hoc, because the tax rate and its resetting are done in complete consultations with the industry. "The very idea was implemented after taking the industry into full confidence," she said at a function organised by Elara Capital.
The broader economy risks a potential flight of foreign portfolio capital, therefore pressure on the rupee and more bad news on the stock market, warns T N Ninan.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
Young investors could allocate in the proportion of 70:20:10 to equity, debt and gold.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
To attract bidders, the government had decided to hive of around Rs 35,000 crore of the company's debt into a separate subsidiary, leaving around Rs 23,286 crore to be absorbed by the new bidder.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances