With a sole mandate of inflation targeting, RBI wears many hats.
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 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.
The Ashokan Pillar in Kolhua, Bihar, is one of India's best maintained historical sites.
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.
Sebi has asked intermediaries to stagger the offerings as much as possible, said people in the know and ensure adequate capacity building.
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.
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.
PNB has slashed the floating home loan rates to 8.5 per cent from February 10.
'They are acquiring agricultural land almost free of cost promising an illusory rise which is worse than a chit fund scheme.' 'When I went there on a fact-finding mission, we found that one third of the land they plan to acquire is the best agricultural land in the country.'
How he hopes to retain his fort is anyone's guess, says Nazarwala, the man who called right the 2007 and 2012 UP elections.
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.
Economists praise Das for his pragmatism and willingness to face challenges head on. And in doing so with the finesse of an able administrator.
'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 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."
'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.
'Both of us are not politicians. We were forced to enter politics to counter corruption that is looting the country.'
The notice, which acts as an international arrest warrant, states that Purvi Deepak Modi, 44, is required on charges of "money laundering".
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.
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
Though not a blockbuster budget it does not undermine the fact that key issues were addressed and the finance minister certainly did not under-deliver, says Vatsal Srivastava.
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.
The 30-share Sensex lost 12 points to end at 29,559 and the 50-share Nifty climbed 4 points to close at 8,914.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Choksi is wanted in India by the CBI and the Enforcement Directorate, which are probing the PNB fraud, the biggest banking scam in the country. India continues to pursue Choksi's return with the government of Antigua through diplomatic and legal channels.
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.
'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?'
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.
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.
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.
