Sale of dollars directly by the RBI can help but only temporarily for a day or two before it will be back to a volatile market.
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
The Lok Sabha contest in Thiruvananthapuram is shaping up to be a significant battle involving key candidates like Shashi Tharoor, Rajeev Chandrasekhar, and Panniyan Ravindran. This three-cornered fight highlights the political dynamics in Kerala's capital city, with each candidate bringing their own vision and promises for the region's development, notes Rajeev Srinivasan.
The key assets put on the block include its entire stake in Reliance General Insurance Company, the third-largest private sector insurer, and a 49 per cent stake in Reliance Nippon Life Insurance, a joint venture with Nippon Life, which is among the top five private-sector insurance companies.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
Barring stray references such as the 'dual control' of banks and shifting the goalposts during demonetisation, he is not in a fault-finding mode with the government, notes Tamal Bandyopadhyay.
The investment strategy would revolve around structuring the portfolio so as to capture the positive price movements and minimise the impact of adverse ones.
The advantage of polymer notes is that these notes are cleaner than paper notes, easily recyclable, provide greater security against counterfeiting and will last four times as long as conventional paper notes. "Polymer notes have been introduced in Australia and the RBI is examining a proposal to start a pilot project for introduction of such notes in the country," said H R Khan, executive director, RBI.
Financials emerged as the top gainers while auto shares rallied on robust September sales
Former Reserve Bank of India governor Yaga Venugopal Reddy said he would have preferred a tighter monetary policy as managing inflation and inflationary expectations were crucial to keep the economy growing.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
Although this may not be music to Raghuram Rajan and Viral Acharya's ears, the real reason in my estimation for their quitting is expatriate over-sensitivity, intolerance or arrogance, argues B S Raghavan, the distinguished civil servant.
Barry Eichengreen, professor of economics and political science, University of California, Berkeley, analyzes the transparency of the Reserve Bank of India, the growth rate of the Indian economy and why he feels globalisation can never be rolled back.
Renowned women's rights activist and founder of the Self Employed Women's Association (SEWA) Ela Bhatt passed away in Ahmedabad on Wednesday due to age-related ailments, her associates said.
India's GDP for the three-month period ended September 30 grew 7.4%.
If bank and service provider are not compliant, pay manually, or give standing instruction linked to bank a/c, suggests Bindisha Sarang.
New Delhi has a chance to rid itself of its image as the bully in the subcontinent by helping a neighbour tackle problems that India, for once, has no role in creating. It should grab the opportunity with both hands, suggests Aditi Phadnis.
'Three external members of the first MPC are respected researchers with excellent academic background, but there is no harm in considering academicians with diverse backgrounds such as finance and labour along with economists for this body,' recommends Tamal Bandyopadhyay.
The Prime Minister's visit to Japan reinforces the strategic focus of global partnership between India and Japan.
Pensioners who had relied on bank interest rates staying high (which had been the long-term experience) were shocked as their calculations on monthly interest payment went awry, as interest rates crashed early in this decade, says T N Ninan.
The broader Nifty also slipped from record by falling 33.15 points at 10,081.50 as investors booked profits.
'We want to send Indians on the moon and create history, but we don't want to accept the reality that is happening on earth.'
State Bank of India was the top gainer, as it climbed 4.46 per cent after it slashed interest rate on savings account deposits by 50 bps to 3.5 per cent on balance of up to Rs 1 crore.
'Returns can be very variable in equity markets.' 'That is why I tell small investors don't put 100 per cent of your money in equities, even if you are young.'
Ahead of Reserve Bank of India's 's slack season Credit and Monetary Policy, Life Insurance Corporation, one of the biggest players in the financial sector
Those hardest hit by the second wave of the pandemic have been blue-collared workers, doctors and healthcare workers, law and order and municipal personnel, individuals eking out daily livelihood, and small businesses. And there should be more measures taken to alleviate their pain, the Reserve Bank of India (RBI) said on Monday. The report also indicated that the RBI's growth numbers might have to be revisited as the central bank's real GDP growth projection of 26.2 per cent given in the MPC's resolution of April 7 for the first quarter of 2021-22, were "made before the full fury of the resurgence." Nevertheless, the "resurgence of COVID-19 has dented but not debilitated economic activity in the first half of Q1: 2021-22.
'Internet, healthcare and life insurance are a few sectors which offer solid long-term decadal potential.'
'We are in a sweet spot.' 'Equity, on a standalone basis, will continue to remain the asset class to stay invested in.'
In conversation with Deepsekhar Choudhury and Neha Alawadhi, Sharma speaks about his journey and the road ahead.
Control over PSU banks is what is allowing the government to drive this scheme.
'There are some castes that grab power, then pass on the benefits to those who belong to their own caste.'
The 5-nation BRICS group on signed an agreement to create a $100 billion pool of foreign-exchange reserves to help each other.
According to the plan made by the lenders and RIL, all Future group listed companies will be merged into Future Enterprises. RIL will then invest Rs 8,500 crore in the merged entity which will include the retail business.
By no means do economists see the Reserve Bank of India stop at just a 25-bp cut. Some of the economists such as Soumyakanti Ghosh of State Bank of India are of the firm view that rates have room to fall by a total of 75 bps in the current financial year, starting with 25 bps in the August 7 policy.
Top Sensex gainers include Hero MotoCorp, Bajaj Auto, Asian Paints, IndusInd Bank, HUL, and Maruti, rallying up to 5.87 per cent. While, ICICI Bank, NTPC and ITC slipped up to 0.13 per cent.
Supreme Court allows more instruments to use the biometric card.
The government is working towards further review and simplification of the foreign direct investment (FDI) policy to facilitate the proposed initial public offering (IPO) of the Life Insurance Corporation (LIC), Department for Promotion of Industry and Internal Trade (DPIIT) secretary Anurag Jain said on Thursday. The final decision will be taken by the Cabinet. The industry department is working together with the finance ministry's department of financial services (DFS) and department of investment and public asset management (DIPAM) towards a successful listing of the life insurer on the domestic bourses, which is expected to be the largest in India.
Finance Minister Nirmala Sitharaman will present the much-awaited 2022-23 Union Budget on February 1. While there has been strong recovery in some sectors, touch services like hospitality, tourism and leisure continue to suffer after two Covid-19 waves. Household savings have been hit due to increased spending on health care. Consumption has still not reached pre-pandemic levels.
SBI introduced this products three months after the Reserve Bank issued guidelines allowing minors over 10 years to operate bank savings accounts independently and use facilities such as automated teller machines and cheque books.
