The year 2022 saw the Reserve Bank of India (RBI) start acting on the policy repo rate after a gap of two years. The six-member monetary policy committee of the RBI reduced interest rate sharply - by 115 bps - when Covid-19 struck in 2020. In March 2020, days after the nationwide lockdown was announced, MPC in an unscheduled meeting reduced the repo rate by 75 bps, followed by another 40 bps in May. Status quo was maintained for the next two years since the May repo rate hike.
'The Modi government must create conditions to integrate millions into the rural economy as many migrants are certainly not going to return to live an undignified life,' notes Ramesh Menon.
"The two sides note that the relationship between Russia and China has progressed to a more advanced interstate cooperation compared to the military-political unions of the Cold War era as it is not bloc or confrontational in nature, nor does it target any third countries," Russia's new agency Tass quoted the document as saying.
Three contenders for the men's singles title at the Australian Open, which starts on Sunday.
US-Pakistan relations are poised to touch a qualitatively new level under the Biden administration, notes Ambassador M K Bhadrakumar.
Mahesh Babu resets... Sanya's fangirl moment... Disha wows us as usual...
Coco Gauff eked out a victory to reach her first Australian Open semi-final on Tuesday.
From the pinnacle of Veer Zara's teary romance, the transition to Pathaan and Jawan must have entailed a lot of resetting, rewiring, and recalibration in the mind. But SRK has done it. And done it well, notes Sandeep Goyal.
India-Israel relations are at a crossroads. Simply chanting old hackneyed mantras on terrorism, secularism, democracy, et al, won't suffice. There is danger of stagnation setting in, says Ambassador M K Bhadrakumar.
A desperate Sunrisers have hit the reset button this season, bringing in Australia's World Cup winning captain Pat Cummins.
Iga Swiatek used an outfit change to help her reset after a poor start and beat China's Zheng Qinwen.
Images from Day 4 of the third Test between India and England at the Niranjan Shah Stadium in Rajkot on Sunday
The prime minister may go for new faces with an eye on grooming younger leaders while also factoring in caste and regional balances
Global financial firm J P Morgan has said that it plans to include Indian government bonds (IGBs) or government securities (G-Secs) into its benchmark Emerging Market index from next year, a move that will bring down borrowing cost for the government. The inclusion of the IGBs will be staggered over a 10-month period from June 28, 2024 to March 31, 2025, indicating one per cent increment on its index weight. "India's weight is expected to reach the maximum weight threshold of 10 per cent in the GBI-EM Global Diversified, and approximately 8.7 per cent in the GBI-EM Global index," J P Morgan said in a statement on Friday.
Opinions vary, but fund managers remain bullish.
Reliance Industries (RIL) has reset its battery pack production timeline, shifting it from 2023 earlier to 2024, details shared in the oil-to-telecom conglomerate's latest annual report suggest. In the FY23 annual report released on Sunday, the company has listed the start of battery pack production in 2024. A year ago, at the company's annual general meeting (AGM), Mukesh Ambani, chairman and managing director of RIL, had said, "We aim to start production of battery packs by 2023 and scale up to a fully integrated 5 GWh annual cell-to-pack manufacturing facility by 2024."
'In many ways, cricket is growing and, on the surface, seems financially strong. However, we are increasingly seeing a game which focuses on a powerful few, as opposed to a democratic and inclusive approach for the benefit of the whole sport.'
The contribution from asset management companies (AMCs) has surpassed the Rs 3,000 crore target for the creation of a Rs 33,000 crore backstop facility for debt mutual funds (MFs). The initial corpus for the Corporate Debt Market Development Fund (CDMDF) is nearly Rs 3,100 crore, according to multiple government officials and AMC executives. "The fund is operational now. "The required corpus has been raised by AMCs and the remaining part (Rs 30,000 crore) is in the form of a guarantee from the government which will be activated only in case of a credit event," explained D P Singh, joint CEO and deputy MD, SBI MF.
We present the highlights of Prime Minister Manmohan Singh's address at the annual conclave of Indian ambassadors/high commissioners abroad in New Delhi on Monday.
Finance minister Nirmala Sitharaman on Monday said windfall tax on petroleum products, crude is not ad hoc, but being charged in regular consultation with the industry. Addressing an event organized online, the minister said it is unfair to call windfall tax as ad hoc, because the tax rate and its resetting are done in complete consultations with the industry. "The very idea was implemented after taking the industry into full confidence," she said at a function organised by Elara Capital.
Ahead of England's first ODI against West Indies, England skipper Jos Buttler said that there is a lot of exciting new talent in the team and he will personally take the responsibility to bring back the Three Lions to the previous days of glory.
'This was the worst phase yet in the state's human rights history.' 'Notorious interrogation centres were set up, large numbers died in firing on civilian mobs.' 'This is what today's generations might identify better as the Haider phase in Kashmir's history,' says Shekhar Gupta.
Tahlia McGrath and Ellyse Perry kept Australia's hopes alive as they put together a dogged partnership in the post-lunch session on Day 3.
Its workers are on their toes to win over the voters once again, with idea of 'Amrit Kaal'.
The 2023 World Cup culminated with Australia extending their World Cup title wins to six with a six-win over India in the final played here on Sunday.
Images from Day 4 of the 2024 Australian Open in Melbourne on Wednesday.
The prime minister said India will continue to support Nepal according to that country's priorities, adding both sides have agreed to expedite all connectivity projects.
Australia leave India with the world number one ranking in one-day cricket and will return to the subcontinent for this year's World Cup with confidence after edging the hosts 2-1 in the series.
Salman Khan's last big release -- Dabangg 3 -- released in December 2019, and scored Rs 146.11 crore. This is why his newest release Kisi Ka Bhai Kisi Ka Jaan has such huge expectations.
India rarely took the foot off the pedal on a batting-friendly surface, garnering nearly five runs per over.
'It's just the second innings in his Test career. Very consistent, you have to say.' 'It's also important to note that he has started from scratch.'
Is it a good idea to give Rs 1 crore to someone who promises you a return of 24% per annum, wonders financial advisor P V Subramanyam.
With Beijing remaining intransigent on the withdrawal of additional troops deployed by the People's Liberation Army (PLA) since the deadly border clash in 2020 in eastern Ladakh, India's bilateral ties with China remained frozen in 2023 with no forward movement on the horizon despite several rounds of diplomatic and military talks.
With the strategy working in its favour, the BJP could be encouraged to undertake similar steps in states, including Karnataka, where elections are due next year, to counter factors that might work against it.
'If, as appears to be the case, India is on way to 'mending fences' with China, and China is equally desirous to 'reset' the relationship, this could be a self-reflexive moment in India's positioning vis-a-vis not just the Dalai Lama, but also the Tibetan issue and China as a whole,' points out China expert Alka Acharya.
Investors looking for a fixed-income product that is free of credit risk may invest in these bonds.
'China's excessive military aid to Pakistan is the real elephant in the room as far as Sino-Indian relations are concerned. India should be confident enough to accept a degree of closeness between China and Pakistan, since China may wish to use this link for its foray into the Muslim world.' 'But the Chinese must be realistic enough to know that as time passes, the tactic of using Pakistan as a proxy to check India will yield diminishing returns. The US tried it for 60 years but failed, so will China,' says Colonel Anil A Athale (retd).
The rally in PSBs, analysts feel, was more a knee-jerk reaction to the development, and the actual benefits will start to accrue once the addition takes place in 2024. "The actual benefit for banks from the inclusion in JP Morgan's EM Index will accrue from June 2024 onwards. "Until then, the larger fundamentals of the market will dictate the moves. "Once the initial euphoria subsides, bond markets will look to global cues which may trigger fresh selling," said Siddharth Khemka, head of retail research, Motilal Oswal Financial Services.
'Our Left is squeamish about democracy. They are so mechanical they have only dogma.'
In a world without politics, time zones would change by an hour for a shift of 15 degrees of longitude. But, of course, political considerations apply, explains Devangshu Datta.
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