What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
With high credit growth and healthy asset quality, listed commercial banks are expected to report steady growth in earnings during the fourth quarter ended March 2024 (Q4 FY24). Profits are expected to grow at 9.6 per cent year-on-year (Y-o-Y) and net interest income (NII) by 8.7 per cent in Q4 FY24, according to Bloomberg analysts' estimates. According to Motilal Oswal Securities, while bank credit growth has been robust, deposit growth has also gathered pace.
Hailing the passage of a bill that restores states' rights to identify Other Backward Classes, Prime Minister Narendra Modi said on Wednesday that it underscores his government's commitment to ensuring dignity, opportunity and justice to the marginalised sections.
The Reserve Bank is unlikely to cut the benchmark interest rate in its forthcoming bi-monthly monetary policy review later in the week as retail inflation is still a cause of concern, and there is a possibility of the Middle East crisis deteriorating further, impacting crude oil and commodity prices, say experts.
After Bandhan MF's US Treasury Bond 0-1 year Fund of Fund (FoF), Aditya Birla Sun Life (ABSL) MF has come out with US Treasury 1-3 Year Bond ETFs FoF and 3-10 Year Bond ETFs FoF. US bonds, which generally offer low yields, have turned attractive post the 525-basis point hike in US interest rates. According to Bloomberg data, the 1-year and 2-year US treasury yields now stand at 5.4 per cent and 5.1 per cent, respectively. Although the yields remain lower than what Indian government bonds offer, the differential has come down steeply.
Malik used to criticise the BJP-led Central government and the then opposition leader in Maharashtra, Devendra Fadnavis, when he was a cabinet minister in the erstwhile MVA government led by Uddhav Thackeray.
The Bharatiya Janata Party's tally in Rajya Sabha has dipped below 90 for the first time in several years but the party and its allies are expected to not only recoup the their losses but also make some gains when by-elections to fill the existing vacancies are held in the coming weeks.
For the first time, Modi is eyeball to eyeball with his bete noire, sitting a few feet across him. Given the last 10 years, a confrontation between them was unavoidable, inevitable, points out Saisuresh Sivaswamy.
'There is also a possibility that Andhra Pradesh may demand a similar package. But as of now, we are only working on a package for Bihar.'
The Lok Sabha witnessed a display of linguistic diversity on Monday, with the newly-elected MPs taking their oaths in English and Indian languages, including Sanskrit, Hindi, Dogri, Bengali, Assamese and Odia.
Union Education Minister Dharmendra Pradhan on Wednesday said the Preamble to the Constitution is very well there in NCERT textbooks of Class VI as he refuted charges made in this regard by Congress president Mallikarjun Kharge.
The Lok Sabha was adjourned twice in the post-lunch period on Thursday as a war of words broke out between the treasury and opposition benches, triggered by Congress MP Charanjit Singh Channi's spat with the Bharatiya Janata Party's Ravneet Singh Bittu.
Questioning the Congress's stand on caste census, the BJP leader made certain remarks on Gandhi's caste that triggered the uproar and had Congress members trooping into the well of the Lok Sabha. "Anurag Thakur insulted me and I don't want any apology from him. Abuse or insult me as hard as you can but don't forget we will pass the caste census in this Parliament for sure," the Leader of the Opposition said.
Foreign portfolio investors' (FPIs') net investment in the domestic debt market in October was the third highest during the current calendar year as foreign investors rushed to lock in higher returns amid global uncertainty and geo-political tensions, market participants said. FPI inflows in debt stood at Rs 6, 322 crore in October against Rs 768 crore in September, according to data on the National Securities Depository Limited (NSDL). Market participants said that the majority of the inflows were channelled through corporate bonds.
The trouble started when the SP member wanted to make a point on an ongoing heated discussion between Opposition parties and the Chairman in the Rajya Sabha over certain remarks made by BJP MP Ghanshyam Tiwari on Kharge a few days ago.
Leader of Opposition Rahul Gandhi launched a no-holds-barred attack on the Bharatiya Janata Party in the Lok Sabha on Monday, saying the leaders of the ruling party are not Hindus as they engage in "violence and hate" round the clock, drawing massive protests from the treasury benches, with Prime Minister Narendra Modi accusing the Congress leader of calling the entire Hindu community violent.
The Rajya Sabha chairman asked him to authenticate his assertions and refused to accept newspaper clippings that the Congress leader showed to buttress his points.
Retail investors could be hesitant to invest in floating rate savings bonds, as these specific bonds tend to be profitable only in a rising rate environment, according to market participants. The Reserve Bank of India has allowed subscriptions for floating-rate savings bonds, 2020, via retail direct - an online portal that enables individual investors to purchase government securities.
US's terrible political and economic leadership will ultimately cost the dollar its value. India must act early to avoid being dragged down, suggests R Jagannathan.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
In a stinging attack on the Bharatiya Janata Party-led central government, Shiv Sena member of Parliament Sanjay Raut on Sunday said it wouldn't be surprising if the Enforcement Directorate issues summons against former prime minister Jawaharlal Nehru in the National Herald newspaper case and paste the notice on his memorial.
He also pointed out the high sums earned by the coaching centres leading to the commercialisation of education.
National Democratic Alliance nominee Om Birla was elected as Lok Sabha speaker on Wednesday after a motion moved by Prime Minister Narendra Modi was adopted through voice vote, capping intense debate on the issue with the opposition in a rare move proposing its own candidate.
Union Finance Minister Nirmala Sitharaman, along with her team of bureaucrats, delved into the fine print of the 2024-25 Budget documents in a press conference, detailing the government's road map on bringing down the debt-to-GDP ratio and bold tax measures.
Prime Minister Narendra Modi on Tuesday said the people have given his government a mandate for stability and continuity for the third consecutive term after seeing its work of 10 years and accused the Congress of trying to build a narrative that it has defeated the Bharatiya Janata Party-led National Democratic Alliance in the Lok Sabha polls.
Despite the narrowing spread of yields between the benchmark 10-year Indian government bond and the 10-year US Treasury bond, foreign portfolio investors (FPIs) are continuing to invest in the domestic debt market this year -- a trend backed by a stable currency and a less volatile bond market. FPIs have been net buyers in the debt market in 2023 so far, marking the first time since 2019. The yield spread between the 10-year Indian government bond and the 10-year US Treasury note stood at 3.14 per cent on August 8 - the narrowest in over a decade.
The climate for 'doing business' remains forbidding, taxtortion is still rife, corruption at state and district levels has increased, oil prices remain extortive with high taxation, and the continued red tape has kept the enterprise system as stifled as before, points out Debashis Basu.
Announcing Bolton's sacking on twitter, Trump said he will name a new national security advisor next week.
The Democrats have elected a set of state representatives who will act as an electoral panel. These representatives will have to pick someone else. This could be Vice President Kamala Harris, who is widely seen as a top contender, but is not popular, points out Aakar Patel.
It is possible to be blind to this and pretend to carry on as if nothing has happened but that will not change the reality, asserts Aakar Patel.
They realised that the Portuguese were better prepared to defend Daman than Dadra and Nagar Haveli. If reinforcements from Daman were to reach Silvassa, there was no chance of defeating the Portuguese. They decided that cutting Daman's communication lines would have to be their top priority before attacking Silvassa. A fascinating excerpt from Neelesh Kulkarni's new book, Uprising-The Liberation of Dadra and Nagar Haveli.
She also holds the distinction of delivering the longest budget speech at two hours and forty minutes in 2020.
Modi's inability to make peace with a renewed Opposition will only embolden his coalition partners and it is just a matter of time before they begin asking probing questions besides politely disagreeing with his tactics, predicts Nilanjan Mukhopadhyay.
A picture of glamour and grit in the face of an emergency, the air hostess, flight attendant or air stewardess is often the hero we didn't know we needed.
Urals and Sokol accounted for every 4 out of 5 barrels of Russian supplies to India last year.
The Indian equity market valuation has been moving in tandem with the US 10-year treasury yield. While the benchmark US bond yield has witnessed a nearly 70 basis point decline since the end of October this year, dropping from 4.93 per cent to 4.23 per cent on Friday, the Sensex earnings yield has slipped by nearly 45 basis points - from 4.5 per cent to 4.05 per cent. Previously, Indian equities' earnings yields rose in sync with the US bond yields.
Shiv Sena's Sanjay Raut said the Bharatiya Janata Party's national executive should pass a resolution to demand investigation by these agencies in the land case.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
'The global situation is not very good.'
Exchange-traded currency derivatives volumes are likely to drop in view of new Reserve Bank of India (RBI) rules, casting a cloud over further participation of retail investors and proprietary traders. There are concerns that existing positions without any underlying exposure will need to be liquidated. Also, weighed down by dollar demand from local oil companies and weakness in its Asian peers, the rupee on Wednesday (April 3) ended at a new closing low of 83.44 versus the US currency.
