The development of private data sources is a hugely positive development. It should serve as a challenge to the government to improve its own record on producing timely and reliable statistics, points out T N Ninan.
Stating that COVID-19 has not yet been contained in India, the rating agency in a statement said the government stimulus package is low relative to countries with similar economic impacts from the pandemic. "The COVID-19 outbreak in India and two months of lockdown -- longer in some areas -- have led to a sudden stop in the economy. That means growth will contract sharply this fiscal year (April 2020 to March 2021)," it said. "Economic activity will face ongoing disruption over the next year as the country transitions to a post-COVID-19 world."
The surge in oil prices has also affected the rupee, which hit a 6-week low of 70.25 on Friday against the dollar.
A direction by Chief Justice of India S A Bobde, Justice B R Gavai, and Justice Surya Kant to the Karnataka high court asked the latter to expeditiously settle the matter of assets deposited before it by Mallya for liquidation, and thereby payment to creditors 'preferably not later than three months'. It will be interesting to see the view of the London high court, if the settlement of his dues to Indian creditors is imminent, reports Ashis Ray.
In 2020-2021, the amount of foreign direct investment into India from China and Hong Kong plummeted to just $200 million -- its lowest in the recent past. In the first half of 2021-2022, FDI investments through these two nations stood at just $36 million.
On the first day of his two-day visit to Ladakh, Gen Naravane held a series of meetings with top commanders about the evolving situation in the region as well as on India's overall combat readiness to deal with any eventualities, military sources said.
In significant push towards a less-cash economy, Prime Minister Narendra Modi on Friday announced starting a biometric payment system using Aadhar platform within two weeks even as he exhorted citizens to adopt digital currency from the new year.
If you think the film is gutsy, you are simply being blind to the truth that the whole men-are-worthless slant is saleable right now, argues Sreehari Nair.
The rallies will be used to drill home the message of the "political will" that Modi government has shown to launch 'surgical strikes' against Pakistan-based terrorists.
'Leaders of the Indian community in Hong Kong had broached the idea of developing the Andaman and Nicobar islands for investment and setting up manufacturing units,' points out Rup Narayan Das.
Voting will be held on Thursday in bypolls to seven assembly seats in six states -- a contest symbolic of the fierce turf war between the Bharatiya Janata Party and regional parties.
Goldman Sachs downgraded its rating on Indian stocks to 'underweight'.
E-commerce platform Snapdeal is looking at filing its Draft Red Herring Prospectus (DRHP) in the next few weeks to launch an initial public offering in first half of next year, according to sources. Sources close to the development said the company is looking at a $250 million (around Rs 1,870 crore) IPO that could value Snapdeal at about $1.5-1.7 billion. Snapdeal is looking at filing the DRHP in December-January time frame, and launch the IPO in the first half of 2022 after the necessary approvals, they added. One of the sources said the founders will not be selling shares as part of the IPO, and major shareholders are also expected to hold onto their shares.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
'Spends are likely to increase from the current levels because recovery is yet to fully be over.'
Their bowling frailties thoroughly exposed in the first two ODIs, India are left with no option but to bank heavily on their batsmen to steer the side and upstage the rampaging Australians in the must-win third one-dayer in Melbourne.
'EV-charging is the next big opportunity after fuelling'
Sebi's new FPI regulation has helped attract new capital pool, up registrations.
Mallya said the allegations of money laundering and stealing money against him are 'completely false'.
Gen Naravane said that the Indian Army did not hide casualties during Galwan clash in eastern Ladakh as the Chinse have done.
Jobs in HR, administration and recruitment have seen a substantial rise as per Monster data with a 42% growth in job posting activity.
China plans to build a new highway along the Line of Actual Control (LAC) with India as part of Beijing's efforts to strengthen its strategic position and project its power, a media report said on Wednesday.
Ambani is in good company. The likes of ultra-rich individuals like hedge fund billionaire Ray Dalio and co-founder of Google Sergey Brin have chosen Singapore to establish their family offices. So have British inventor James Dyson, famous for his bladeless fans and hair dryers and vacuum cleaners, and Zhang Yong, founder of China's Haidilao hotpot restaurant chain, reports Lee Kah Whye.
Digital payments provider Paytm is all set to make its market debut as early as this year, with an aim to raise $3 billion (around Rs 22,000 crore). If successful, this could be the biggest initial public offering (IPO) by an Indian company, breaking Coal India's 2010 record of Rs 15,475 crore. According to media reports, the board of One97, parent company of Paytm, is all set to meet this Friday to formally approve the IPO plan.
'Russia has got inherent military strength, they have a very good military equipment manufacturing infrastructure and by and large they are self-sufficient in their production capabilities'
The agenda would also include organisational polls and a fresh membership drive, though "national role for Nitish" is likely to dominate the narrative.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
Telecom service operator Airtel on Thursday urged the government not to charge high fees for allotting 5G spectrum, saying a faster roll out of the next-generation telecommunication network can have more benefits than collecting revenue in upfront cost. Sunil Bharti Mittal, chairman of Bharti Enterprises which runs the country's second largest telco, said that there are a variety of applications across sectors ranging from healthcare to video interactions, which will make 5G a technology to be introduced as soon as possible. "5G is important and that's why we keep on requesting the government to make the 5G as an enabler for hundreds of things that we develop in the country, to keep the spectrum at affordable pricing, to not load the industry too much," Mittal said at the Times Network India Economic Conclave.
A private member resolution seeking that the government implement the recommendations of the Sachar Committee report and other reports that have discussed the educational and social backwardness of Muslims and enact a legislation for the prevention of atrocities against minorities was moved in the Rajya Sabha on Friday.
Amid slogan shouting by MPs from the Trinamool Congress, the Congress and other opposition parties from the Well of the House, Modi began replying to the debate on the motion thanking the President for her address to the joint sitting of Lok Sabha and Rajya Sabha at the start of the Budget Session, and accused the Congress of adopting only 'tokenism' to solving problems the country faced.
According to information, the Chinese side conveyed to the Indian mission its keenness to have a meeting between the two defence ministers.
Official sources said withdrawal of tanks and other armoured elements from certain friction points is nearing completion while pulling back of troops from the North bank areas is being undertaken.
The loan will be utilised in several developmental projects that Nepal wants to undertake. Nayanima Basu reports.
In a business friendly move, the Reserve Bank of India on Friday said that Real Time Gross Settlement System (RTGS), used for large value transactions, will be made available round-the-clock from December. In December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis. Currently, RTGS is available for customers from 7.00 am to 6.00 pm on all working days of a week, except second and fourth Saturdays of every month.
The government on Thursday allowed free inter-state wheeling of renewable energy used in the production of green hydrogen and ammonia as it seeks to boost usage of the carbon-free fuel and make India an export hub. Unveiling the first part of the much-awaited National Hydrogen Policy, Power and New and Renewable Energy Minister Raj Kumar Singh said the government is targeting production of 5 million tonnes of green hydrogen by 2030. Oil refineries to steel plants require hydrogen to produce finished products.
The NSA particularly highlighted the need for resolving outstanding issues as quickly as possible and talked about the need for maturity and sincerity in dealing with the issue.
IndusInd Bank was the top gainer in the Sensex pack, rallying over 6 per cent, ahead of its earnings announcement. Axis Bank, Kotak Bank, ICICI Bank and Bajaj Finance too surged up to 5 per cent. On the other hand, NTPC, M&M, HDFC Bank, Bharti Airtel and ITC were the laggards.
The recapitalisation, the finance minister said, will enhance the lending capacity of state-owned banks and help them come out of RBI's Prompt Corrective Action framework.
