Bajaj Auto was the top gainer in the Sensex pack, surging 3.95 per cent followed by Maruti Suzuki at 2.69 per cent.
The people of India have 50 days, from November 10 to December 30, to deposit notes of Rs 500 and Rs 1,000 in any Bank or Post Office.
In spite of the high decibel financial inclusion drive being carried out for the past three years, a Crisil study has revealed stark disparities in the spread of banking services, saying the top six cities are home to an astonishing 11 per cent of bank branches.
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After scrapping the selection of six UPA-appointed bank chiefs, the government has now decided to make significant changes to the selection process.
"The government is trying to promote vote-bank politics by avoiding a discussion on terrorism. Terrorism is the biggest enemy of the country but still the government has no courage to say so," Modi told media persons. Accusing the Centre of adopting a 'casual approach' on the issue at the NIC, he said the government was not ready to discuss terrorism which has affected the whole country badly.
Rising crude oil prices, traction in China equities and inflation concerns back home are casting a shadow on the Indian equity markets in the short term, believe analysts at Jefferies. They said this could see the markets remaining range-bound in the near term before the next leg up.
The NDB will have an initial authorised capital of $100 billion.
The business council aims to give impetus to trade.
Vodafone Idea (Vi) is in continuous talks with network vendors to finalise its 5G rollout plans, Vodafone Idea CEO Akshaya Moondra said. "We are in early stages of 5G deployment. "5G is an important development and we are keeping our eyes on it," Moondra said on Wednesday in a post-result analyst call. Already five months behind rivals Jio and Airtel in the 5G race, Vi's efforts will be on the deployment of 5G in target geographies.
In a message to public sector banks (PSBs) that only performers will survive, the government, in an unprecedented move, has decided to allocate capital to only nine PSBs.
Lured by the unprecedented growth in the real estate and boom in the stock market, banks exposure to these high risk sectors witnessed a whopping 75 per cent growth in 2005-06.
India will enter the Asia Cup as a seven-time champions, most by any team, but adding an eighth title might just not feature on top of their bucket list.
Sisodia said nothing was found against him during searches, and he would continue cooperating in the investigation.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
As the game wound on, Morocco fans screamed "Ole, ole, ole!" in unison, drowning out the handful of Portuguese fans and whistling whenever Portugal took possession of the ball.
Benchmark indices started the trade on a weak note on Wednesday with the Sensex falling 564.77 points, following feeble global market trends and persistent foreign capital outflows. The 30-share BSE Sensex was trading 564.77 points lower at 52,612.68. The NSE Nifty dipped 162.4 points to 15,687.80. Among the Sensex pack, IndusInd Bank, Hindustan Unilever, Bajaj Finserv, Titan, Kotak Mahindra Bank and Bajaj Finance were the major laggards in early trade.
Surging stock markets have helped 11 banks to garner a whopping Rs 11,067 crore (Rs 110.67 billion) to meet their capital requirements during 2005-06.
The NSE Nifty ended at 2,719, up 102 points. The market breadth was fairly positive - out of 2,551 stocks traded, 1,583 advanced, 855 declined and 113 were unchanged on Friday.
Friday will be a landmark day for domestic markets, with all the listed stocks entering the professed T+1 (trading plus one day) settlement cycle. About 200 stocks, which account for more than 80 per cent of India's market capitalisation, will be settled on a next-day basis, with effect from January 27. This will evidently complete the transition to the T+1 cycle that started in February 2022 with the bottom 500 stocks in terms of market value.
The Reserve Bank of India's directive on Wednesday came on its prior advice to banks in 2009 to make bank branches and ATMs accessible to people with disabilities and make at least one-third of the new ATMs installed as talking ATMs with Braille keypads.
'There is no tried and true recipe for creating Silicon Valleys.' 'Attracting and creating a mass of truly dynamic entrepreneurs is at the core and among the hardest and most necessary ingredients.' 'In the US, close to 60% of the top valued tech companies were started by immigrants who found the start-up climate to be superior to where they came from.' 'India would clearly benefit from attracting back its talented Diaspora, but it also needs to hold onto those entrepreneurs.'
Significantly, for the first time, the FATF put Myanmar in the "high risk jurisdictions subject to a call for action", often referred to as the watchdog's black list.
Quarterly results of many of these banks show significant losses.
The probe into selections for banks such as Bank of Baroda and Canara Bank followed the arrest of Syndicate Bank CMD S K Jain for alleged graft.
Senior Bhartiya Janata Party leader Arun Jaitley on Thursday slammed the Congress for its 'vote bank politics' which have plunged the country in increased terror attacks.
Reserve Bank of India will soon review the progress made by banks in implementing "Know Your Customer" guidelines at branch level to strengthen the mechanism to keep a check on money laundering activities.
NPA problem to continue for next 2-3 quarters: banks to FinMin
The Supreme Court on Wednesday said Ganga cleansing programmes have been going on for over three decades with almost no impact on the ground and wondered whether the government wanted to do something during this tenure or would it spill over to the next term.
Paytm's pre-IPO investors, which include likes of Warren Buffet's Berkshire Hathway, SoftBank and Alibaba, do not seem to be in a hurry to exit India's leading digital payments brand as they continue to believe in its long-term prospect, analysts said. On Tuesday, 86 per cent of Paytm's shares became free to trade after the end of the lock-in period, allowing investors to sell shares that haven't yet been allowed onto the market. Market participants have been speculating on Paytm, post-expiry of lock-in for pre-IPO investors.
The Kolkata-based firm already has a presence in 22 states with over 2,000 branches and 5.9 million borrowers.
The World Bank has lauded India for the 'remarkable progress' it made in alleviating poverty as well as educating children through the Universal Elementary Education programme.
Even if Mudra steps in to play its main role of refinancing at some stage, the responsibility for the bad loans remains with the banks.
Meera Shankar, Indian Ambassador to the United States, informed that India has convened a ministerial meeting in September in New Delhi to see how we can bring the Doha Round back on track and as a follow up to that meeting experts were expected to meet in October in Geneva.
The United Nations on Wednesday pared down India's growth forecast by 20 basis points to 5.8 per cent for 2023 calendar year, citing higher interest rates and risks of recession in the developed world weighing on investment and exports. "Economic growth in India is projected to moderate in 2023, with higher interest rates weighing on investment and slower global growth weakening exports," it said in its latest World Economic Situation and Prospects report. The report has projected global trade to contract 0.4 per cent and the world economy to grow at 1.9 per cent in 2023.
Though the economy has steadily gained momentum and remained resilient since the second quarter of the current fiscal, the Omicron variant of coronavirus remains the major challenge along with rising inflation pressures, says the Reserve Bank in its second financial stability report. In the foreword to the report released on Wednesday, RBI Governor Shaktikanta Das notes that after the destructive second wave in April-May 2021, the growth outlook has progressively improved, though there are headwinds from global developments and more recently from the Omicron virus. A stronger and sustainable recovery hinges on the revival of private investment and shoring up private consumption, which unfortunately still remain below their pre-pandemic levels, he notes.
The RBI refuses to classify a cryptocurrency as an asset since it doesn't have future cash flow and its value is always fluctuating because of speculation. There is also no consumer protection, observes Tamal Bandyopadhyay, and hence the e-rupee trial run.
