During a three-hour long virtual meeting with CEOs of large public and private sector banks along with heads of NBFCs, the prime minister assured them that the government is ready to take all steps to support the financial sector.
'The India-Pakistan relationship is in a deep freeze, though it could be a lot worse had there not been a new LoC ceasefire a year ago.' 'The India-Pakistan relationship will only start to thaw if the Pakistani military decides it's prepared to push for detente.'
If General Asim Munir, Pakistan's new army chief, wants to help defuse the current polarised atmosphere and shepherd civilian politicians towards negotiations on an acceptable date for elections, he may need to distance himself from any perception of needless hostility to Imran Khan, explains Rana Banerji, who headed the Pakistan desk at RA&W, India's external intelligence agency.
The Union Cabinet on Wednesday approved 'Mission Karmayogi', dubbed as the biggest bureaucratic reform initiative, aimed at capacity building of government employees to make them more "creative, proactive, professional and technology-enabled". The core guiding principles of the competency-driven programme will be to support a transition from "rules based to roles based" HR management to prepare the Indian civil servant for the future, according to a government statement.
'Increased allocations for MNREGA could have provided the much needed push to rural demand and consumption at a time when recovery continues to remain uneven.'
Finance Minister Nirmala Sitharaman presented her third Budget on February 1.
The Centre on Wednesday announced a raft of post-retirement employment possibilities for 'Agniveer' like priority in recruitment to the central armed police forces (CAPF) and Assam rifles but that failed to assuage the concerns of the opposition Congress which warned the 'transformative' 'Agnipath' scheme will reduce the operational effectiveness of the armed forces.
This was the one Budget that required radical departures on all these fronts, when it had none, asserts, Shreekant Sambrani.
If you are buying a bond to cater to your regular income needs, check the interest distribution schedule.
The White House and the Indian-American community are solidly backing the nomination of Neera Tanden as the director of Office of Management and Budget, describing her as the most appropriate candidate to hold the position.
'... the government provides adequate cash and kind support for the poorest of the poor for survival... ...conditional cash and skilling support for the economically poor to raise their incomes to adequate levels... ...and make functional arrangements for providing unemployment allowance to the vulnerable poor during disasters like the present one.'
Without bringing sound governance and technical capabilities into the RBI's work, injecting new money sets the stage for a next wave of bad behaviour by banks, warns Ajay Shah.
'It is never a good idea to let the broad population determine policy that is the domain of experts and specialists,' notes Aakar Patel.
The party is studying the governance of different countries to present an alternative model of development for India ahead of the 2014 general election, says Akshat Kaushal
India needs foreign exchange buffer reserves to insulate itself from exchange rate volatility as we have "no friends" for swap lines and Japan was the only country that helped during the taper tantrum in 2013, former RBI Governor Raghuram Rajan said on Tuesday. Participating in a virtual event organised by economic think tank NCAER, Rajan said during the taper tantrum in 2013, India asked for swap lines, and only country who helped was Japan. "We need this (foreign exchange) reserve buffer to insulate ourselves because we have no friends.
There is a perception getting built inside the government that big technology companies -- a common term used for firms like Facebook, Google, Twitter, Amazon and the like - are becoming very powerful and present multiple threats to entire nations and their citizens today. The digital ecosystem is replete with CSAM (child sexual abuse material), fake news, drug trade, radicalisation, trolling among other social vices. Given the network effect that these platforms have, it is important to ensure that these platforms are not misused.
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
If the government had paid enough to begin with, or if it had made serious advance purchase commitments that allowed the vaccine producers to mobilise necessary investment, then it is possible to imagine more free or subsidised vaccines such as are available in developed economies, asserts Mihir S Sharma.
The friction with the political class is not only about interest rates and monetary policy. While the government often spoke freely about its discomfiture, the RBI had to be careful even in its response to the government as any loose statement would affect the markets.
The government has the upper hand in the ongoing negotiations, and it is unclear if a real debate will happen, observes Tulika Narayan.
The ministry of home affairs has made the use of Aarogya Setu app mandatory for all employees, both private and public, and pinned the responsibility for compliance on the head of respective organisations.
While the US is definitely recovering, Europe, Japan and, now, China are all going through another wave of what some fear could be a multi-year slowdown.
With the former prime minister stepping aside on Sunday night saying it was "simply not the right time" for his comeback, the prospect of a Diwali victory for Sunak cannot be ruled out.
Economist Deepak Nayyar says economic openness, while necessary, is not sufficient, and is conducive to development only when combined with industrial policy.
Several private hospitals across the country said they have no clarity on procuring COVID-19 vaccines under the new policy announced by Prime Minister Narendra Modi and that it has led to the vaccination being put on hold at their centres.
...Is this a virus more dangerous than Covid-19, asks Ajit Balakrishnan.
After the Gujarat and Himachal elections and the municipal polls in Mumbai and Delhi, Karnataka, Rajasthan, MP and Chhattisgarh will elect new assemblies next year leading up to the Lok Sabha election in April-May 2024, points out Virendra Kapoor.
Such businesses outperform non-family firms by 3% in first six months of CY20, says Credit Suisse report.
'This way, you'll maintain our glorious traditional values and get more efficient governance as well.'
'What do the moves towards protectionism suggest?' 'That we do not have Aatmavishwas.' 'If you have self-confidence, confidence in your ability to compete with the best in the world, why do you need protectionism?'
NCP spokesperson and Maharashtra minister Nawab Malik said that AICC general secretary H K Patil was told about this scheduled meeting when he and other Congress leaders met Pawar in Mumbai recently.
A few days back, Finance Minister Nirmala Sitharaman urged the start-up community and public to deal in cryptocurrency with caution because everything that was floating around was not currency. In the first week of August, the country's top nine crypto exchange platforms were summoned by the Directorate of Enforcement (ED) in Hyderabad. The exchanges were questioned for money laundering, especially over a number of Indian non-banking financial companies and their fintech partners for predatory lending practices in violation of the Reserve Bank of India (RBI) guidelines and by using tele-callers who misuse personal data and use abusive language to extort high interest rates from the loan takers.
If you are running a sweetmeat shop, will you manage a dairy for milk supply or buy milk from the market? Banks are running a dairy (which has its cost for processing milk), while NBFCs are buying milk from the market, observes Tamal Bandyopadhyay.
Modi seems to have an innate faith in his capabilities to handle the myriad challenges confronting the nation and would rather manage the affairs of the nation as a CEO would of a large industrial-business empire, observes Virendra Kapoor.
The AAP leader, who has been recently in the news for supposedly dropping her second name, has been active in reforming the education and health sector.
The 2G judgment suggests many bureaucrats have poor application, inadequate interest and are unwilling to be active participants in the policy process, says Babu Jacob.
A revival in investment is likely to be a key near-term initiative.
The markets have been unable to sustain at higher levels as a rise in bond yields globally, especially in the US have dented sentiment. Surging commodity prices, especially crude oil that have now hit $70 a barrel (Brent) coupled with inflation woes and fear of sporadic lockdown across major economic hubs back home as Covid cases rise have chased the bulls away. In the short-term, analysts expect the markets to remain volatile as they react to news flow - both from overseas and developments back home. Investors, they say, need to keep a tab on how the US treasury yields move, which in turn will have a ripple effect on how big money moves across developed (DMs) and emerging markets (EMs), including India.
'You cannot fight a disease as complex as COVID-19 without a carefully calibrated, localised response.'
Capital markets regulator Sebi on Tuesday asked listed companies to work towards splitting the roles of chairman and managing director before the April 2022 deadline, as the new directive is not aimed at weakening the position of promoters. Listed entities were initially required to separate the roles of chairperson and MD/CEO from April 1, 2020 onwards. However, based on industry representations, an additional time period of two years was given for compliance. The regulation will now be applicable to the top 500 listed entities by market capitalisation, with effect from April 1, 2022.
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