We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
The government may roll out a new foreign trade policy (FTP) of a shorter term of two-three years in a bid to keep pace with the fast-evolving scenarios in international trade which have been triggered by recent disruptions, such as the pandemic and the Russia-Ukraine war. An FTP is an elaborate policy guideline and strategy to promote the export of goods and services, with a duration of five years usually. The existing policy came into force on April 1, 2015, and was valid for five years, before multiple extensions.
The bad assets or gross NPAs of commercial banks fell to a 12-year low of 2.8 per cent in March 2024 and may go down further to 2.5 per cent by the end of the current fiscal, said the RBI's Financial Stability Report (FSR) released on Thursday. Scheduled Commercial Banks' (SCBs) gross non-performing assets (GNPA) ratio fell to 2.8 per cent, and the net non-performing assets (NNPA) ratio to 0.6 per cent at the end of March 2024. "The asset quality of SCBs recorded sustained improvement, and their GNPA ratio moderated to a 12-year low in March 2024. Their NNPA ratio too improved to a record low," said the June FSR.
It is to be seen if SBI under Setty, who will have a three-year term, can ride the economic cycle to take SBI to new heights, navigating some of these challenges.
Delhi-based Jasmeet Singh Sandhu, an Indian Revenue Service officer, has secured third position in the test.
Stock markets would take cues from the upcoming macroeconomic data announcements and global trends besides keeping a watch on the trading activity of foreign investors, analysts said. The last batch of the ongoing earnings calendar would trigger stock-specific action, traders said. "This week, we have to deal with macroeconomic data on both the domestic and global front.
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
'...you evaluate three key factors before committing your money.'
Prime Minister Manmohan Singh on Wednesday presenting the S K Singh Award for recognising excellence in the Indian Foreign Service, to Tanmaya Lal
IT and interest rate-sensitive bank, realty, and auto stocks ended with sharp gains.
'We emphasise the importance of not basing investment decisions solely on electoral outcomes.' 'Instead, focusing on investing in high-quality businesses capable of prospering regardless of the political landscape is paramount.'
From the Sensex firms, Power Grid, NTPC, Tech Mahindra, Bharti Airtel, Tata Motors, IndusInd Bank, Reliance Industries, Kotak Mahindra Bank and Maruti were among the laggards. Asian Paints, Wipro, JSW Steel, Hindustan Unilever, Bajaj Finserv and Mahindra & Mahindra were among the biggest gainers.
'IPOs have performed exceptionally well, with a notable increase in average ticket size from Rs 800 crore in the last financial year to around Rs 1,300 crore in this financial year.'
This is the first conversation between Modi and Yunus after he assumed the responsibility following the fall of the Sheikh Hasina-led government.
Sheikh Hasina, who quit as prime minister and fled Bangladesh, will be back in the country as soon as democracy is restored, his son Sajeeb Wazed Joy said on Thursday and blamed Pakistan's intelligence agency, ISI, for fuelling the ongoing unrest in the country.
A fresh wave of foreign business is rolling in for India's software industry, where low salary costs and a skilled, English-speaking workforce have made the country a world leader.
In the last 12 months, over 7,500 Indians have applied for a resident permit.
While it makes economic sense for countries like Thailand, where the English-speaking population is very small, to engage teachers from India to teach the language in that country rather than from any other part of the world, it is often argued that if it is a question of learning English, it would be better to go for those from the US, Britain or Australia even if this means more money.
From the Sensex basket, Sun Pharma, Maruti, Power Grid, Titan, JSW Steel, Tech Mahindra, Larsen & Toubro and State Bank of India were the major laggards. Tata Motors, Tata Consultancy Services and Nestle were the gainers.
Veteran Sharath Kamal and world no. 24 Manika Batra will lead the Indian men's and women's squads respectively at the Paris Games, where the country will make its Olympic debut in team events.
'What my Labour government will seek with India is a relationship based on our shared values of democracy and aspiration. That will seek a free trade agreement (FTA), we share that ambition, but also a new strategic partnership for global security, climate security, economic security'
The government has been in discussions to promote such international financial services centres within India as alternatives to places like Singapore.
From the Sensex basket, JSW Steel, Tata Steel, UltraTech Cement, NTPC, Larsen & Toubro and HDFC Bank were the major gainers. Titan, Nestle, Bharti Airtel and IndusInd Bank were among the laggards.
Gen Dwivedi, who has vast operational experience along the frontiers with China and Pakistan, was serving as the Vice Chief of the Army.
With response tepid so far from domestic investors, these funds might soon approach FIPB for approvals.
The much-talked-about sale of Ambuja Cement and ACC by Holcim Group will see the single-biggest outflow of foreign capital from the country if the two cement firms are acquired by Indian investors. The deal, valued at nearly $10.35 billion, will put in the shade Cairn Energy Plc's exit from India in 2010, when it sold Cairn India to Vedanta Group for $4.48 billion. According to various reports, big business groups such as AV Birla, JSW Group, and Adani Group are in the fray to acquire Holcim's assets in India.
EAM Jaishankar's mission is aimed at strengthening India's strategic autonomy in a complex international environment, observes Ambassador M K Bhadrakumar.
'If their allocation to certain segments have become high due to strong returns over the past three-four years, they should rebalance their portfolios and bring them in line with their long-term asset allocation.'
A couple of days before the grand spectacle on Kartavya Path on Republic Day, a full dress rehearsal of what will be for sure a magnificent parade.
Global rating agency Moody's on Monday raised India's growth forecast for 2024 calendar year to 6.8 per cent, from 6.1 per cent estimated earlier, on the back of 'stronger-than-expected' economic data of 2023 and fading global economic headwinds. India's real GDP expanded 8.4 per cent year-over-year in the fourth quarter of calendar year 2023, resulting in a 7.7 per cent growth for full-year 2023. Capital spending by the government and strong manufacturing activity have meaningfully contributed to the robust growth outcomes in 2023, Moody's Investors Service said.
Titan Company, Axis Bank, NTPC, Tata Motors, ITC, Tech Mahindra, Bajaj Finserv, ICICI Bank, HDFC Bank and Bajaj Finance were the other laggards. Bharti Airtel, Power Grid, Infosys and Larsen & Toubro were among the gainers.
The compulsion behind India and Japan to deepen security cooperation is in response to China's growing political and economic clout and its assertive behaviour in disputed areas. This has been the key driver for bringing both India and Japan closer in the domain of security cooperation, explains Dr Rajaram Panda.
The current spurt in the stock market is on account of strong fundamentals and robust corporate earnings and retail investors can look for buying opportunities to accumulate quality stocks, experts said.
Indian citizens in Eastern China Region may apply at the Embassy of India, Beijing for availing urgent consular services, the Consulate said in a notice issued on Tuesday.
Foreign Portfolio Investors (FPIs) continued their buying spree and poured close to Rs 4,800 crore in the Indian equity markets in the first week of January driven by confidence in the country's robust economic fundamentals. Additionally, they injected Rs 4,000 crore in the debt market during the period under review, data with the depositories showed. With expectations of a prolonged decline in US interest rates in 2024, there is an anticipation that FPIs will likely escalate their purchase, particularly in the initial months of the New Year leading up to the general elections, V K Vijayakumar, chief investment strategist at Geojit Financial Services, said.
Prime Minister Narendra Modi will launch the much-awaited 5G services in India on October 1, 2022, an official release said on Friday. According to the release, 5G to be launched by the Prime Minister in select cities, will progressively cover the entire country over the next couple of years. The cumulative economic impact of 5G on India is estimated to reach $450 billion by 2035. Capable of supporting ultra-high-speed internet services, the fifth generation or 5G is expected to unleash new economic opportunities and societal benefits, serving as a transformational force for Indian society.
Foreign airlines can now pick up 49 per cent stake in India's domestic carriers, a step that is expected to give a boost to cash-strapped aviation industry.
The ex-foreign secy was the government's pointsman for China and the US.
Sir Osborne Smith was the first governor of the Reserve Bank, serving from April 1, 1935, to June 30, 1937.
A potential risk to the rupee's appreciation trajectory lies in the event of a delay in the Federal Reserve's rate cut cycle, particularly if core inflation in the US remains elevated.
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