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.
Local superheroes and villains, award winners and hopefuls, a fan favourite from a galaxy far, far away and wizards and witches of Hogwarts regale and rejoice on OTT this week.
The BJP can't be sure if it should celebrate that the old rival is fading or worry that new ones are rising. Because the last thing the BJP wants to see is alternatives rising, if only to the Congress, observes Shekhar Gupta.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
The Gujarat High Court on Thursday rejected a plea filed by Mahatma Gandhi's great-grandson Tushar Gandhi against Sabarmati Ashram redevelopment project, after the state government assured that it will "not touch" three key attractions situated in the one-acre area.
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
Nominating Das, the Banker magazine, which announced the award, said India's banks have faced a series of challenges, from non-performing loans to issues around fraud. Faced with these challenges, Shaktikanta Das has taken steps to bring banking in India up to standard via a restrained approach to governance.
The United States has so far allocated only 7.5 million doses of Covid vaccines to India, which is not enough, a top Indian-American Congressman said while urging the Biden Administration to do more.
The India Meteorological Department (IMD) has forecast 'extremely heavy rains' at a few places in Marathwada, Mumbai and other parts of the coastal Konkan region of Maharashtra in the next 24 hours.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Minister of State for Home Nityanand Rai said the legislation was not against any NGO and is an effort to maintain transparency. This amendment is in the interest of good NGOs which want to do good work in the country.
'Both of us are not politicians. We were forced to enter politics to counter corruption that is looting the country.'
Fintech giant Paytm claimed it is selling more FASTags than all the banks put together on a daily basis.
Auto-debit payment bounces have gone up for the second consecutive month in May, emphasising the stress building up due to a halt in economic activities as authorities lock down various parts of the country to stop the spread of the virus in the second wave. According to the National Automated Clearing House (NACH) data, in May, of the 85.7 million transactions initiated, 35.91 per cent, or 30.8 million transactions, failed.
Fintechs need to behave with responsibility and transparency. A lot of mis-selling has been happening. Other issues have been plaguing the fledgling industry -- high interest rates, even higher processing fees, harsh collection process and, most critically, data leakage leading to rampant frauds, points out Tamal Bandyopadhyay.
Modi on Saturday embarked on a five-nation visit to Afghanistan, Qatar, Switzerland, the US and Mexico focus of which will be to enhance India's engagement in areas of trade, energy and security, besides pushing for its membership of the Nuclear Suppliers Group.
Between August and September Finance Minister Nirmala Sitharaman toured the length and breadth of India meeting traders, experts and entrepreneurs to gauge the pulse of the nation, reports Ruchika Chitravanshi.
Sebi has asked intermediaries to stagger the offerings as much as possible, said people in the know and ensure adequate capacity building.
'India cannot allow Beijing's policy of stabilising and destabilising the border at will to perpetuate its own ends.' A riveting excerpt from Manish Tiwari's 10 Flashpoints; 20 Years National Security Situations That Impacted India.
'The current crisis is one of incomes, driven by poor job growth, agrarian distress and poor investment sentiment,' notes Harsh Pati Singhania, director, JK Organisation.
Teams of the National Disaster Response Force (NDRF) were roped in to rescue hundreds of stranded people, they said.
While Nifty 50 reflects changes in 40 years, it also shows what is missing: Low-cost manufacturers at one end, and deep-value players at the other. Also missing are technology players, observes T N Ninan.
'How can you explain the necessity of selling an institution that has been delivering regular returns to the government, that has never asked for any capital from the government, that has invested Rs 38 lakh crores in the Indian economy and that owns 4 per cent of the market capitalisation in India?'
Retail inflation fell to a five-month low of 4.35 per cent in September from 7.27 per cent in the year-ago period as prices of vegetables and other items declined, according to government data released on Tuesday. The moderation in Consumer Price Index-based inflation is in line with the assessment of Reserve Bank Governor Shaktikanta Das who recently projected substantial softening of retail inflation. The CPI inflation was at 5.3 per cent in August and at 7.27 per cent in September 2020.
Economists praise Das for his pragmatism and willingness to face challenges head on. And in doing so with the finesse of an able administrator.
The ministry also made certain clarifications in the statement, and said, "the assertion that Indian territory is up to Finger 4 is categorically false. The territory of India is as depicted by the map of India and includes more than 43,000 sq km currently under illegal occupation of China since 1962."
For the first time in the history of Budget-making in India, a single Budget will touch 65 crore Indians, says Shailesh Haribhakti.
With their high-decibel campaigns so far, the Bharatiya Janata Party and the Samajwadi Party may appear to be locked in a direct fight in Uttar Pradesh.
Reports suggest state-owned banks have lapped up Rs 40,000 crore, so far, using both bonds and equity instruments. The question, though, is whether there will be a perceptional change for PSB stocks.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
The primary market is set for a bumper Rs 80,000-crore bonanza with 30 companies already filing IPO papers to raise Rs 55,000 crore, while around 10 more are lined up for this month itself, seeking to mop up another Rs 25,000 crore, say investment bankers. The market has been on a non-stop rally, hitting new records almost every week, on the back of an influx of investors -- a vast majority of them first-timers -- coupled with a flood of liquidity. Foreign funds alone had pumped in a record $35 billion into the market in FY21, while the trend has continued this fiscal as well. Domestic institutions led by LIC have also infused trillions of rupees, helping woo retail investors in troves -- the year saw over 20 million new investors coming to the market.
With a sole mandate of inflation targeting, RBI wears many hats.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
Indicating a shift in stand, Shiv Sena MP Sanjay Raut on Thursday said his party is open to consider quitting Maharashtra's ruling alliance Maha Vikas Aghadi (MVA) if the rebel MLAs camping in Assam return and discuss their grievances with CM Uddhav Thackeray, while coalition allies Nationalist Congress Party and the Congress vowed support to the beleaguered governing bloc and asserted its majority can only be determined in the assembly and not outside.
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
Under the India-China agreement on the disengagement process in eastern Ladakh, the Chinese army will pull back its troops to east of Finger 8 areas in the northern bank of Pangong lake, Defence Minister Rajnath Singh said in Parliament on Thursday, in what is seen as a significant step to dial down tensions in the key face-off site.
'Wang Yi said the border issue is important and we should stay committed to peacefully addressing it through consultation and coordination.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
How he hopes to retain his fort is anyone's guess, says Nazarwala, the man who called right the 2007 and 2012 UP elections.
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