The job cuts will affect almost a fifth of the bank's workforce.
Prime Minister Narendra Modi has "strongly" and "clearly" conveyed concerns to Chinese President Xi Jinping over Beijing blocking a proposal for action by the United Nations against Pakistan on the release of jailed Mumbai attack mastermind Zaki-ur-Rehman Lakhvi, with India rejecting the "weak evidence" theory propounded by Beijing in this regard.
India is looking to develop alternative export markets for tea such as Iraq, Saudi Arabia, the US, Japan and Tunisia in view of the Russian invasion of Ukraine, people aware of the matter said. Meetings are being held with buyers in some of these countries in virtual mode, with the help of diplomatic missions located there. Similar meetings for the remaining countries have also been planned.
India will surpass China as the world's fastest growing economy in the next 2-3 years, says RIL chairman Mukesh Ambani.
If the CBDCs don't offer interest, why will people shift from cash to CBDCs?, asks Tamal Bandyopadhyay.
Indian Army officers are convinced China is maintaining the pretence of dialogue and negotiations in order to create the opportunity to occupy more Indian territory. Senior Indian planners apprehend this might be a Chinese ploy to divert attention from Depsang, in Northern Ladakh, which might be China's actual target.
The Indian Army has occupied several key heights in the strategically located Rezang-La and Reqin-La areas on the southern bank of the lake since the end of August.
Both are finding it difficult to sell one each of their plants -- Chennai Maraimalai Nagar (Ford) and Talegaon near Pune (GM) -- and are finding the road blocked by employee severance snarl-ups, report Sohini Das and Shine Jacob.
About 300 fintech firms are under investigation by the ED for allegedly partnering 38 non-banking financial companies for predatory lending practices to charge borrowers high interest rates.
Another sobering number is that the total Chinese investment in India in the past 10 years amounts to $400 million.
'This reluctance to respond forcefully to Chinese PLA provocations and outright aggression has as much to do with Prime Minister Modi personally, as with the institutional mindset of the MEA or even the Indian Army.' 'They are scarred by the 1962 War and are still cowed by China.'
More than 4,000 rescue workers are racing against time to find survivors amid rough weather conditions.
No prizes for guessing what the BJP's election campaign is going to be, and who will provide important inputs for it.
Ambani is in good company. The likes of ultra-rich individuals like hedge fund billionaire Ray Dalio and co-founder of Google Sergey Brin have chosen Singapore to establish their family offices. So have British inventor James Dyson, famous for his bladeless fans and hair dryers and vacuum cleaners, and Zhang Yong, founder of China's Haidilao hotpot restaurant chain, reports Lee Kah Whye.
It would be a difficult task for the Indian economy to reach the $5-trillion mark a year before the International Monetary Fund (IMF) projection of 2026-27. Pankaj Chaudhary, minister of state for finance, said in the Rajya Sabha on Tuesday that the government is taking steps to make the country a $5-trillion economy at a date earlier than the IMF's projection. In that context, it would not be difficult to meet the projection in the third quarter of FY27.
Manu Kumar Jain, India head, Xiaomi, tells Sangeeta Tanwar how the Chinese smartphone maker won over the Indian market.
Overall, the record of the second term reveals a contradiction between the image and the reality. The image, especially on media and social media, is one of the man at the height of his power, and unstoppable. The reality on governance is someone who has found it difficult to get things implemented and unsure of what to do next, points out Aakar Patel.
A legislation has been introduced in the United States Congress for countering the Chinese propaganda by creating a new sanctions authority against state-backed disinformation networks.
Wang began a two-day trip to Pakistan on Tuesday primarily to attend a meeting of the Council of Foreign Ministers of the Organisation Islamic Cooperation (OIC) as a special guest.
Brushing aside India's concerns, China on Monday cemented its "all-weather ties" with Pakistan by agreeing to build a strategic $46 billion (Rs 2.9 lakh crore) economic corridor through Pakistan-occupied Kashmir as part of 51 deals signed, expanding the communist giant's influence in the region.
Abdullah said both Kashmiri Pandits and Muslims suffered and even his workers and ministers were killed in large numbers since the eruption of terrorism.
After the publication of the final list of NRC, those people whose name will figure in it will be given usual Aadhaar number as applicable to legal residents in the country.
'However, a lot of preparatory work would have to go in and China must be prepared to announce an end to the standoff by disengaging from the remaining areas along the LAC.'
If the visit takes place, it will be the first trip by a senior Chinese leader to India after the eastern Ladakh standoff between the two countries began in May 2020.
On the first day of his two-day visit to Ladakh, Gen Naravane held a series of meetings with top commanders about the evolving situation in the region as well as on India's overall combat readiness to deal with any eventualities, military sources said.
"I am very concerned about the recent situation of COVID-19 pandemic in India. On behalf of the Chinese Government and people, as well as in my own name, I would like to express sincere sympathies to the Indian Government and people," according to the message from President Xi to Prime Minister Modi.
Investors with high risk appetite must stay invested while risk-averse investors can consider profit booking.
Infosys, Tata Motors, ONGC, TCS and GAIL are the top 5 losers.
The Congress president spoke of how Modi had hosted Xi in his home state Gujarat and the Chinese troops made an incursion into Indian territory.
Nepal's Prime Minister Sher Bahadur Deuba on Monday inaugurated the country's second international airport built by China that will help connect Lumbini, the birthplace of Lord Buddha and a major tourist and pilgrimage destination, to Buddhist circuits in South Asia as well as to the rest of the world.
The rupee has fallen more than 2 per cent against the dollar since the yuan devaluation
Here's a pick of what Warrenn Buffett had to say over the weekend, and his annual 'Woodstock for Capitalists'.
Indian and Chinese militaries on Monday moved back their frontline troops to the rear locations from the face-off site of Patrolling Point 15 in the Gogra-Hotsprings area in eastern Ladakh and dismantled temporary infrastructure there as part of a five-day disengagement process.
Many CEOs said they plan to give special leave to women employees so as to encourage their participation in the workforce.
The World Bank recently announced that the Chinese and Indian economies are 40 per cent smaller than previously estimated. The new data are based on improved estimates of purchasing power parity (PPP). The basic idea is that, when comparing incomes across countries, variations in purchasing power should be taken into account. Price levels in China and India, among other developing countries, turn out to be much higher than previously estimated.
Outlining seven principles of engagement for closer cooperation between India and China, Prime Minister Manmohan Singh on Thursday said the two countries should show sensitivity to each other's interests and sovereignty and move quickly to resolve the boundary issue.
The handsome 25 per cent rise in corporate profits in the September quarter amid a sharp contraction in GDP was on the back of wage squeezes, leading to rise in inequalities in India, economist Nouriel Roubini said on Thursday. This rising inequality is "dangerous" politically and socially because only a few people in the economy are benefitting, the economics professor at New York's Stern School of Business said. Roubini said earnings of listed entities have risen 25 per cent in the September quarter, which means that wages and income are getting "squeezed, if not collapsed".
On development of infrastructure by China in border areas, the Army chief said it is going on unabated.
Ahead of the 2023-24 Union Budget, the thinking at the top level of the central government is clear: Gross domestic product (GDP) growth of 6-6.5 per cent is a comfortable enough target for FY24 and the focus should be on fiscal consolidation to ensure that the sovereign cost of borrowing does not become prohibitively expensive in a high-interest rate environment, according to people in the know. Those aware of deliberations between the Prime Minister's Office (PMO) and the Ministry of Finance said while the Budget would look to strike a balance between infrastructure investment and welfare schemes, it is unlikely to be populist, though it will be the last full-year Budget before the 2024 Lok Sabha election. Incidentally, 6-6.5 per cent GDP growth is what the upcoming 2022-23 Economic Survey is expected to project for FY24.
A pan-India 'fraud-to-phone' network has been busted by security agencies, which have also arrested eight people and seized nearly 300 new mobile phones bought with stolen funds, officials said on Tuesday. Moreover, 900 mobile phones, 1,000 bank accounts and hundreds of unified payment interface (UPI) and e-commerce IDs of this gang have been identified and are under investigation. Nearly 100 bank accounts, and debit and credit cards have been frozen by the security agencies so far, officials said.
