Crypto assets should not be granted official currency or legal tender status, the much-awaited synthesis paper by the International Monetary Fund (IMF) and Financial Stability Board (FSB) has said ahead of the G20 leadership summit under India's presidency. However, the report has argued against a blanket ban on activities linked to crypto assets, explaining that such a move can be costly as well as technically demanding to enforce. Central banks should avoid holding crypto assets in their official reserve as they pose a risk to monetary and global financial stability, according to the synthesis paper.
As floods hit the low-lying areas in the national capital, slum dwellers whose houses got submerged claimed that they were not alerted beforehand and many others alleged that help was not forthcoming from the administration.
'As it happens in any society, when progress happens, hate also comes out.' 'There is always a bit of a risk and possibility of rejection, particularly by an orthodox section of society.'
Prime Minister Narendra Modi Wednesday said the International Monetary Fund (IMF) sees India as a "bright spot" in the global economy and as per the World Bank, India is in a better position to deal with the global headwinds than many other countries. This is because of India's strong "macroeconomic fundamentals", Modi said while virtually addressing the inaugural function of the 7th edition of Invest Madhya Pradesh-Global Investors Summit in Indore. In the past eight years, the government has increased the speed of reforms and removed many hurdles in the way of investments.
The politicisation of ethnic sentiments in the state has coincided with the ascent of the BJP and increased activities of far right Hindu outfits, which organised rallies and other events on religious occasions such as Ram Navami a festival not very popular in West Bengal- unlike states in north India.
The transmogrification of Prime Minister Modi to Saint Modi began with the ground-breaking ceremony of the Ram temple in Ayodhya. By identifying himself with Lord Ram, Modi raised himself in popular imagination to a saintly person.
Both prime ministers believed in crafting schemes to help the common man. Modi used quite effectively the instruments Dr Singh introduced. In assessing Modi's success with many schemes, Dr Singh's fundamental work should not be ignored, points out A K Bhattacharya.
According to a nation-wide survey on financial behaviour, India has the highest account dormancy rate even more than countries like Kenya, Tanzania, Uganda, Nigeria, India, Pakistan and Bangladesh.
The Reserve Bank on Friday said it will soon commence the pilot launch of e-rupee for specific use cases with a view to bolstering India's digital economy, making payment systems more efficient, and checking money laundering. In a concept note on Central Bank Digital Currency, the RBI said CBDC is aimed to complement, rather than replace, current forms of money and is envisaged to provide an additional payment avenue to users, not to replace the existing payment systems. "Supported by state-of-the-art payment systems of India that are affordable, accessible, convenient, efficient, safe and secure, the Digital Rupee (e?) system will further bolster India's digital economy, make the monetary and payment systems more efficient and contribute to furthering financial inclusion," the paper said.
Patnaik, who met Prime Minister Narendra Modi in New Delhi earlier in the day to discuss developmental issues related to his state, also ruled out joining any third front, a plan floated by some regional parties earlier.
Debates on changing the name of India to Bharat continue to spark a crisis of identity without answering moot questions that stare us in the face. Ramesh Menon asks a few of those questions that do not have easy answers.
'When you do some job for a few hours, you are hardly earning enough to survive.'
'When my father travelled 5,000 miles to build a new home in Ireland, I doubt he ever dreamed that his son would one day grow up to become its leader.' Vaihayasi Pande Daniel/Rediff.com profiles Dr Leo Varadkar who will step down as Ireland's taoiseach (prime minister) next week.
Since the first Aadhaar number was issued in September 2010, more than 1.33 billion Aadhaar cards have been generated till June 2022. With the Aadhaar enrolment of adult Indians nearing 100 per cent, the main objective of the Unique Identity Authority of India (UIDAI), which was to give Unique Identification numbers (UID) to all residents of India, is almost achieved, said a senior government official. "Enrolment will now be much more update-based, because people keep updating their mobile numbers and addresses.
Modi, 48, is currently living in a three-bedroom flat occupying half of a floor of the landmark Centre Point tower block, where rent is estimated to cost 17,000 (Rs 15 lakh) a month, The Telegraph reported.
The Sensex closed higher by 170 points at 26,128 and the Nifty rose 59 points to end at 7,943.
Sisodia said he will fully cooperate with the CBI that has summoned him for questioning in the excise policy case.
Among Sensex stocks, Tata Motors rose the most by 2.79 per cent. NTPC, Reliance Industries, Infosys, TCS, HDFC twins, Tata Motors, ITC, Power Grid and Bajaj Finserv were among the major gainers. Tata Steel fell the most by 1.22 per cent. L&T, Sun Pharmaceuticals, IndusInd Bank and Ultratech Cement were among the losers.
United States President Joe Biden on Wednesday said that based on what he saw, it appears that the deadly explosion at the Gaza hospital was done by 'the other team' and not the Israeli military, accepting the Israeli version of the story pinning the blame for the blast on the Palestinian militant group Islamic Jihad.
The BJP and Congress are the top two beneficiaries of the electoral bonds, followed by the Trinamool Congress.
Modi and Albanese also reiterated their shared ambition for an early conclusion of the ambitious Comprehensive Economic Cooperation Agreement (CECA) that is expected to significantly expand bilateral trade ties.
Resurgent Australia stand between unblemished India and World Cup glory
'We have to think of the repercussions if public sector banks are privatised and if they go to foreign hands.'
On paper, though, PBKS looks a tad more stronger than KKR.
Some other tax authorities are looking at the allegations.
The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
'India is respected by both Israel and Palestine.' 'India can push the international community for the peace process.'
Pele's greatest contribution to both soccer and Brazil was to transform his underachieving nation into a footballing superpower.
The issuance of NBWs by a court also opens door of seeking Red Corner notices against both of the accused from the Interpol.
Tata Steel, SBI, L&T and Sun Pharma advanced 2-5% each.
National Geographic has announced the winners of its prestigious Travel Photographer of the Year photo contest for 2017. And the images are just breathtaking.
The RBI has created a stunted business model by which payment banks are supposed to shoulder the noble objective of financial inclusion without being able to make much money.
The banks are not ready to open accounts of the beneficiaries through the IT-enabled financial inclusion programme, which is running on a pilot basis in various districts of the state. "The panchayat staff do not co-operate with our business correspondents. They do not come forward to endorse the identity of the beneficiaries. How can we open accounts," asked an official from State Bank of Indore.
Jugraj made his International debut against France during the FIH Hockey Pro League matches in South Africa
There are about 5.7 crore small entrepreneurs.
Barely days after imposing a 40 per cent export tax on onions to cool down soaring prices, which, in turn, triggered widespread protests across the main growing belts, the Centre on Tuesday sought to mitigate both political and economic tensions gripping parts of Maharashtra. It decided to procure an additional 200,000 tonnes of onions at Rs 2,410 per quintal for its buffer stock from farmers, a rate that is strikingly close to the price at which they were being exported before the 40 per cent duty was levied on August 19. The export price before the imposition of the duty stood at around $320 per tonne free on board (approximately Rs 2,650 per quintal).
Modi announced a USD 14-million grant for community development projects in the Caricom and another USD 150 million line of credit for solar, renewable energy and climate- change related projects, a statement released by the Ministry of External Affairs said.
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Of the 11 licence holders, only eight remain in the fray as concerns about profitability and rising competition are making them think twice before jumping in.
It is not much of an issue just now, but it could become one if the idea of caste census captures socio-political imagination, going beyond electoral tags and identities, says N Sathiya Moorthy.
Policymakers should aspire to restore the pre-Independence environment where the rupee was trusted and used all over South Asia, in Southeast Asia, in West Asia, and in East Africa, suggests Ajay Shah.
