The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government, according to the central bank's annual report. In actual terms, the increase was Rs 7,02,946.97 crore over Rs 63.45 lakh crore as on March 2023.
Speaking at the State Banquet hosted in the honour of President Pranab Mukherjee, Namibian President Hage Geingob said Namibia commends India's commitment towards peaceful use of nuclear energy.
Gross non-performing assets of public sector banks surged to 9.32 per cent (Rs 4.76 lakh crore) of advances in 2015-16, from 5.43 per cent (Rs 2.67 lakh crore) in 2014-15.
Noted economist Arvind Subramanian is favoured as the choice for the government's Chief Economic Advisor (CEA).
'Whatever else may or may not happen, China and its people are likely to pay a very heavy price for the lack of transparency of its Communist regime,' predicts Colonel Anil A Athale (retd).
'We should look at is full year's growth rather than quarter numbers.'
From the enactment of the capital control Act to the recognition of the BSE as a stock exchange and the infamous Harshad Mehta scam, here are the 18 biggest events for stock markets from 1947 to 1993.
The G-20 leaders under the chairmanship of Saudi Arabia's King Salman held an extraordinary video conference in which they resolved to use all available policy tools to minimise the economic and social damage from the pandemic that has killed over 21,000 people and infected more than 470,000 globally.
Given the uncertainties around gold's future course, stagger your purchases and buy on declines, says Sanjay Kumar Singh.
Reserve Bank Governor Raghuram Rajan on Monday slammed International Monetary Fund for staying on the sidelines and applauding accommodative policies of developed nations.
The Financial Action Task Force (FATF) on Friday retained Pakistan on its 'grey list' for failing to check money laundering, leading to terror financing, and asked Islamabad to investigate and prosecute senior leaders and commanders of United Nations-designated terror groups, including Hafiz Saeed and Masood Azhar.
Shigeru Ishiba is expected to prioritise strengthening Japan's military capabilities and fostering deeper international partnerships, particularly with India, with whom Japan shares significant strategic interests, explains Dr Rajaram Panda.
India will have the presidency of the BRICS' $100 billion New Development Bank for six years with headquarters in China that will become operational in about two years, a major step for reshaping the international financial system dominated by the West.
By piling more pressure on governments, central banks risk not accomplishing much and yet provoking a political backlash that could threaten their independence.
A two-year extension at the helm of the RBI still looks a real possibility
IMF chief said the G20 leaders need to respond to the calls for creating jobs.
Swamy had also claimed that Rajan was "mentally not fully Indian" and alleged that he has "wilfully" wrecked the economy
'There are lots of low hanging fruits and often no real impediment to plucking them.'
In the first such collaboration for India, the country's flagship payments platform, the Unified Payments Interface (UPI), and Singapore's PayNow payment system have launched a real-time cross-border payment linkage system. The linkage, which was launched by Prime Minister (PM) Narendra Modi and Singapore's PM Lee Hsien Loong on Tuesday, was kicked off by a live cross-border transaction between Reserve Bank of India Governor Shaktikanta Das and Monetary Authority of Singapore managing director Ravi Menon, using mobile phones.
The announcement of the formation of the BRICS bank will have as much an impact about how the non-G7 countries manage their economies and their foreign reserves, as it does on the intellectual discourse. The development priorities and agenda which was hitherto set by western experts responding mostly to western priorities and notions will now have to compete with an intellectual tradition that is and can be very different, says Mohan Guruswamy.
The members of Association of Southeast Asian Nations are Indonesia, Malaysia, the Philippines, Thailand, Vietnam, Brunei Darussalam, Singapore, Cambodia, Lao PDR and Myanmar.
The global economy, which gathered momentum in 2013, would continue to strengthen in 2014, largely because of improvements in the advanced economies, the International Monetary Fund Chief Christine Lagarde has said even as she expressed concern over the rising risk of deflation.
Germany is now sitting on a mountain of savings.
The global agency said there are "serious deficiencies" on the part of the country in checking terror-financing and it lacks an effective system to deal with it.
The money stashed away in tax havens is estimated at between $5.6 trillion and $32 trillion, numbers to make your eyes pop, asserts T N Ninan.
The Paris-based global watchdog for curbing terror financing and money laundering will hold its virtual plenary session from October 21 to 23. It will review Pakistan's progress on the 27-point action plan.
India's gold holding in forex reserves rose to 560.3 tonnes by the end of March 2018.
Anandabazar Patrika reported that Rajan would prefer to go back to the United States after his three-year term expires in early September
In April and May, there were additions by RBI of 600 kg and 900 kg. RBI's total gold holding is now 561.9 tonnes.
"We see the Indian economy rebounding from our projected 6.1 per cent growth this fiscal year to something like 7 per cent in the next fiscal year (2020). We see the factors that will support growth, including monetary policy stimulus, working their way through the pipeline," Jonathan Ostry, Deputy Director, Asia Pacific Department at the IMF, told reporters.
The world's two largest economies, the United States and China, will again win most gold medals at the Olympics and Britain will push Russia into third place in the overall standings, Goldman Sachs predicted in a survey released on Monday.
The Indian economy is expected to grow around 10 per cent during the current financial year on the likelihood of fewer COVID-19-linked supply disruptions and buoyancy in the global economy, said Poonam Gupta, director general of economic think-tank NCAER. The real challenge, however, would be to sustain a growth rate of 7-8 per cent in years to come, she said. "We could see annual growth in the ballpark range of about 10 per cent. "The reasons for this perceived optimism are: fewer supply disruptions; increased pent-up demand in the traditional and contact-intensive services; and a buoyant global economy.
The IMF on Tuesday projected an impressive 12.5 per cent growth rate for India in 2021, stronger than that of China, the only major economy to have a positive growth rate last year during the COVID-19 pandemic. The Washington-based global financial institution, in its annual World Economic Outlook ahead of the annual Spring meeting with the World Bank, said the Indian economy is expected to grow by 6.9 per cent in 2022. Notably in 2020, India's economy contracted by a record eight per cent, the International Monetary Fund (IMF) said as it projected an impressive 12.5 per cent growth rate for the country in 2021.
'Growth would have to be 7% in the October-March period, if the year as a whole is to clock 6%.' 'Who would bet on that when, in the world of real numbers, both exports and imports have continued to fall, car sales have continued to slump, and the industrial production index shows yet again a drop in output?', asks T N Ninan.
Voices from the Treasury are clamouring for lowering rates as this would boost demand.
The rupee has fallen more than 2 per cent against the dollar since the yuan devaluation
The year 2020 could see the worst global economic fallout since the Great Depression in the 1930s, with over 170 countries likely to experience negative per capita income growth due to the raging coronavirus pandemic, IMF Managing Director Kristalina Georgieva said on Thursday. Georgieva made the remarks during her address on 'Confronting the Crisis: Priorities for the Global Economy' in Washington, DC, ahead of next week's annual spring meeting of the International Monetary Fund and the World Bank.
'It makes sense to have gold in one's portfolio keeping the political and economic risks of 2024 in mind.'
China will also set up 50 joint laboratories with countries participating in the Belt and Road initiative to enhance cooperation on innovation.
