'I hear that there are some 10,000 Indians stuck in Iran, including nearly 4,000 students from Kashmir. But, I do not know any of them. Here I am all by myself and the embassy has asked me not to venture out far from my hotel. People here are going about their daily lives despite the bombings'
India posted a current account surplus of $13.5 billion or 1.3 per cent of GDP in March quarter 2024-25 as compared with $4.6 billion in the year-ago period mainly on account of surge in services exports and higher remittances, according to RBI data released on Friday.
India's stock markets corrected recently but foreign money is likely to chase China rather than India in the short-to-medium term, said Chris Wood, global head of equity strategy at Jefferies, on Thursday. Wood told the Business Standard Manthan Summit in New Delhi he is bullish about Indian equities from a long-term perspective, but for the short term he is cautious given the quantum of foreign investor (FII) outflows and valuation woes.
Take the Rediff Biz Quiz and find out how much you know about banks and India.
NRIs will abandon rupee-denominated accounts, causing a deposit crunch and worsening the current account deficit.
India is working closely with Belgium to extradite fugitive diamantaire Mehul Choksi, who was arrested in Antwerp on Saturday based on a formal request from the Indian government. Choksi is wanted by Indian probe agencies in connection with a Rs 13,500-crore bank loan fraud case involving the Punjab National Bank (PNB). His nephew, Nirav Modi, is also facing extradition proceedings in the UK.
'What is going on is the under counting of the migration population in urban areas.' 'It has been going on in the last few censuses.'
The series marks the beginning of a new cycle for both India and England in the 2025-27 World Test Championship (WTC).
China's opening up of its banking sector to foreign competition has not brought cheers for the Indian banks as overseas banks seeking entry into the country must bring in 200 million yuan.
Absconding diamond jeweller Mehul Choksi has been detained in Belgium following an extradition request by Indian probe agencies for his alleged involvement in the Rs 13,000 crore PNB bank loan 'fraud' case, official sources said Monday. The action against the diamantaire was taken on Saturday.
A court in Mumbai has issued a non-bailable warrant against diamantaire Mehul Choksi in the Canara Bank-led consortium loan fraud case involving about Rs 55 crore. Choksi, a prime accused in the multi-million dollar Punjab National Bank (PNB) 'fraud', was arrested in Belgium on April 12 following an extradition request by Indian probe agencies.
'Son believes India has a significant opportunity in chip design, especially in creating IP that will be uniquely Indian.'
About 55 banks participated in the deal, making it the largest bank group for a syndicated loan in Asia so far this year.
In a double-dose bid to boost growth and employment prospects, the Union Cabinet on Tuesday approved a Rs 2.07 trillion outlay for a research development and innovation (RDI) Scheme to fund private sector innovations, and an employment-linked incentive (ELI) to create over 35 million new jobs over the next two years.
Stock market benchmark indices Sensex and Nifty tumbled over 1 per cent each on Friday as tensions soared between India and Pakistan, fuelling fears of a wider conflict.
India's real GDP growth in FY26 will slide further to 6.2 per cent in FY26 from 6.5 per cent in FY25, a Japanese brokerage said on Monday. In a research report, Nomura said there is a "divergence" between the growth in GST collections and across other high-frequency growth indicators like auto sales and bank credit growth.
Being distributed through a fake Flash Player app, the malware is designed for stealing login credentials, hijacking SMSs, uploading contact lists and SMSs to malicious servers, reports Romita Majumdar.
On that fateful day, Narayan, popularly known as JP and a fierce critic of the then-Indira Gandhi government, addressed a massive gathering at the Ramlila Maidan in Delhi.
After the recent attack on debit cards exposed the gaps in their security systems, banks are getting serious about data privacy.
The Congress party in India has accused the government of "impropriety" in the sudden termination of KV Subramanian's position as India's executive director at the IMF, alleging it was linked to the Union Bank of India's purchase of two lakh copies of his book. The party also questioned the government's stance on Pakistan's request for a loan from the IMF.
The labourers, who are said to be of Nepali origin, were engaged in the construction of a hotel.
East Bengal capitalised on the lapses to score a 2-1 victory over Indian Bank in the IFA Shield football tournament.
India-Turkiye ties are strained over Ankara's Islamabad tilt, its arms links with Pakistan, and fallout from the Pahalgam terror attack.
India will argue for Pakistan's return to the Financial Action Task Force (FATF) grey list due to its alleged failure to combat money laundering and terror financing. The move comes after recent tensions between the two countries following a terror attack in Pahalgam, India. India believes Pakistan has not adequately addressed the issue of terrorism emanating from its territory and has diverted funds from multilateral agencies towards arms purchases.
It is time for India to raise its voice not just through military prowess, but through professionalism, principled voting and partnerships, asserts Deepak Mishra.
After upgrading India's foreign currency debt rating, Moody's Investor Service on Wednesday upgraded the foreign currency deposit, debt and issuer ratings for 11 Indian banks and financial institutions.
Zohram Kwame Mamdani would be the city's first Muslim and Indian American mayor if elected New York mayor this November.
'I am not an aspiration-oriented politician.' 'This is the time to redefine politics.' 'Politics of power is not real politics.'
'Entering India is exciting, but it's also challenging. You have to be prepared for long-term investment.'
Maharashtra Navnirman Sena chief Raj Thackeray on Wednesday asked what was the need to "impose" Hindi on students and appealed to schools in Maharashtra to foil the government's "hidden agenda to deliberately create a language divide".
The Indian banks are not prepared to implement the stringent Basel-II norms including that of capital adequacy and non-performing assets in toto by 2006, according to the Federation of Indian Chambers of Commerce and Industry survey.
'You've got to understand it is not easy to die by suicide.' 'People commit suicide only when they lose everything and find no other way to live.'
The Supreme Court on Friday declared JSW Steel Limited's resolution plan for Bhushan Power & Steel Limited (BPSL) "illegal" and ordered the latter's liquidation, four years after the company was acquired by JSW Steel under the Insolvency and Bankruptcy Code (IBC). Following the ruling, JSW Steel shares fell sharply.
As the fight for deposits intensifies, the cost of money will rise and the margin will be under further pressure, points out Tamal Bandyopadhyay.
The size of the hole in today's banking crisis appears to be roughly 10 per cent of GDP.
The Royal Challenger's Bengaluru parade in celebration of the team's maiden Indian Premiere League win in 18 years turned into tragedy as at least 11 fans died and several were injured in a stampede near the Chinnaswamy Stadium on Wednesday.
Bajaj Finance, IndusInd Bank, State Bank of India, Maruti, Tata Motors, ITC, Tata Steel and Reliance Industries were also among the gainers. Nestle, NTPC, Kotak Mahindra Bank, Power Grid and Titan were among the laggards.
Indian refiners are likely to import 2-2.2 million barrels per day of Russian crude oil in June - the highest in the last two years and more than the total volumes bought from Iraq, Saudi Arabia, the UAE and Kuwait, preliminary data by global trade analytics firm Kpler showed.
A case has been registered against Maharashtra BJP minister Radhakrishna Vikhe Patil and 53 others, including directors of a sugar mill, for allegedly obtaining loans of nearly Rs 9 crore in the names of farmers using forged documents. The complaint was filed by a sugarcane cultivator and member of the cooperative sugar mill, alleging that the loan amounts were never credited to the farmers' accounts and were instead siphoned off by sugar mill officials and bank staff. The case was registered based on a court directive following a complaint alleging irregularities that occurred in 2004.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances