International Monetary Fund and World Bank are top global financial institutions.
Even as the chorus against black money and corruption is getting louder in India, hacktivism, a coinage created of activism and hacking, is creating mayhem in the virtual world.
The US' influence on a European CEO-headed multilateral institution is out of sync.
Doggedly persisting with its much-criticised zero-Covid policy, China has slipped deeper into the coronavirus quagmire as it reported a record 31,444 infections on Thursday with many of its cities, including Beijing, resorting to community lockdowns to stem the virus amid worsening wintery weather.
While maintaining that merit and not nationality should guide selection of the new International Monetary Fund chief, India will in all likelihood support French Finance Minister Christine Lagarde for the job.
Prime Minister Manmohan Singh on Tuesday said India supports the "best" available candidate, regardless of nationality, as the next International Monetary Fund (IMF) chief.
Massive default, together with a very large sustained cut in the annual budget deficit, is, in fact, needed to restore Greek's fiscal sustainability.
"Tests matched a DNA sample submitted by Strauss-Kahn and semen found on the shirt of the hotel maid," the Wall Street Journal reported quoting law-enforcement officials.
Battling damaging allegations of sexual assault, Strauss-Kahn tendered his resignation from the top post of the IMF on Wednesday, while maintaining that he was innocent.
The government should not go in for an 'aggressive fiscal consolidation' in the upcoming Budget as global risks have not abated, RBI Monetary Policy Committee (MPC) Member Ashima Goyal said on Wednesday. Goyal further said subsidies are expected to come down as food and energy inflation moderates. WPI inflation in food articles in November was 1.07 per cent against 8.33 per cent in the previous month.
It was during his stay at this Sofitel hotel that Kahn, who was appointed IMF managing director in 2007 with a salary in excess of $5,00,000 per year, was accused of indulging in sexual assault on a chambermaid.
HCL Technologies was the biggest gainer in the Sensex pack, rising 5.58 per cent, followed by Tata Consultancy Services and Infosys, State Bank of India, Tech Mahindra, Tata Steel, NTPC and Wipro. In contrast, Nestle, Bharti Airtel, Maruti and ITC were among the laggards.
The paper says the rate of price rise in food items leads to lower income inequality in rural India.
The biggest risk to India's growth outlook is an escalation of geopolitical tensions, especially if these tensions spread to the Asian region, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Wednesday. Varma, in an interview to PTI, said that inflation and inflationary expectations appear to be moderating and high inflation will certainly not become the 'norm' in the country. He is cautiously optimistic about the Indian economy as after the pandemic abated, consumption demand has begun to recover though the recovery is uneven across sectors and industries.
"Global rebalancing will require deficit economies to save more and consume less, while depending more on external demand relative to domestic demand for sustaining growth. Surplus economies will need to mirror these efforts - save less and spend more, and shift from external to domestic demand," Subbarao said during his intervention in the ongoing Spring meeting of the IMF in Washington.
The multilateral body has also asked the policymakers to take action to reduce risks arising from increased scarcity of oil resources.
The report titled 'what really happened to Strauss-Kahn?' published in the New York Review of Books states that Strauss-Kahn's Blackberry, which the IMF chief referred to as his 'IMF BlackBerry' had been 'hacked' and later went missing.
FCAs decreased by $3.56 billion to $325.03 billion.
Parliamentary Affairs Minister Prahlad Joshi has said that 31 bills will be taken up in the monsoon session. Among these include the Digital Personal Data Protection Bill, 2023.
The International Monetary Fund on Wednesday warned that there are significant risks of the crisis recurring, as long as global banking system remains strained.
State Home Minister Tamradhwaj Sahu said that in 2013-14, the state had received Rs 50 crore for police modernisation from the Centre. The allocation has come down to Rs 20 crore right now.
The Cabinet's approval to increase India's quota in the International Monetary Fund follows Fourteenth General Review of Quotas of the agency.
Gold reserves in the reporting week increased by $707 million to $33.52 billion.
India's growth in the last three financial years has averaged just 1.9%. It is natural to project rapid growth from this low base. Crucial to that would be the assumption that the economy has suffered no lasting damage from the pandemic, observes T N Ninan.
If India can fast utilise currency flows for long-term projects, the regulatory regime could be more liberal.
India's reliance on domestic factors for growth and its comfortable foreign exchange reserves would help the nation to insulate itself from the Euro-zone debt crisis, financial services firm, ING said.
In-car connectivity demands and technology for interaction open various possibilities.
In a statement issued after its Article IV Consultation with India, the IMF said that Reserve Bank of India should be ready to increase rates to check any further rise in inflation.
Finance Minister Nirmala Sitharaman will have to do a tight-rope walk between staying fiscally prudent and general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy before general elections. Sitharaman will on Wednesday present her fifth straight Budget at a time when the economy is slowing due to global headwinds and specific sectors need attention. In the run-up to the Budget presentation, expectations are rife that she may tweak income-tax slabs to provide relief to the middle class and increase spending on the poor through programmes such as the rural job scheme while ramping up financial incentives for local manufacturing.
The four-day tour, beginning September 21, includes World Bank-International Monetary Fund meetings, as well as interactions with investors.
While emerging economies present the best chances for economic growth, not all countries will prosper at the same rate.
Some emerging nations like India and China, however, are also facing the challenges of huge capital inflows and overheating.
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Global goods trade will grow by 3.3 per cent this year, says WTO.
Differing with International Monetary Fund's growth forecast of 4.9 per cent for India during 2012, Planning Commission Deputy Chairman Montek Singh Ahluwalia said it has a statistical problem.
A judge had earlier dismissed all charges against Strauss-Kahn, who was accused of forcing the maid into a sex act at a luxury Manhattan hotel, but her lawyers had filed an appeal to a higher court seeking a special prosecutor, the report added.
International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn today commended India's role in managing capital inflows, which have already crossed $50 billion this year--about 4 per cent of the country's Gross Domestic Product (GDP).
While managing rising EMIs can be challenging, the right strategy can help individuals can ease their financial burden, says rediffGURU and financial planning expert, Colonel Sanjeev Govila (retd).
