'The additional Rafales will be from a vastly improved version compared to the 36 acquired for the IAF under the 2016 deal.'
The Defence Acquisition Council (DAC) has approved procurement of long range rockets, missiles, radar systems and military platforms worth Rs 79,000 crore to bolster the military's combat prowess.
With general government debt now approaching three-quarters of GDP, and only incremental reform efforts visible, Pakistan risks prolonging its economic stagnation unless fundamental governance, regulatory, and industrial overhauls are undertaken.
The only case where there could be a change in insurance payout is if Air India's management were found to be aware of the accident and the accident was deliberate.
India registered its protest at the board of IMF, which met on Friday to review the EFF lending programme for Pakistan.
The nationality of the passengers onboard will define the minimum liability applicable to the airline operator as per the Montreal Convention, Prudent Insurance Brokers vice president (aviation & specialty lines) Hitesh Girotra said.
India has for the first time secured a place among the top 100 out of 167 countries ranked for their progress in achieving the Sustainable Development Goals (SDGs), according to a report published on Tuesday. According to the UN Sustainable Development Solutions Network's 10th and latest Sustainable Development Report (SDR), India ranks 99th on the 2025 SDG Index with a score of 67, while China ranks 49th with 74.4 and the US 44th with 75.2 points.
India's external debt rose marginally to $629.1 billion at June-end 2023, although the debt-GDP ratio declined, according to a Reserve Bank data released on Thursday. The debt rose by about $4.7 billion from $624.3 billion at March-end. "The external debt to GDP ratio declined to 18.6 per cent at end-June 2023 from 18.8 per cent at end-March 2023," RBI said.
Top golfer Gaganjeet Bhullar lodged a complaint against Emirates Airlines for delaying his bags, which he said affected his game. Jehangir Gai tells us what happened next.
The country's foreign exchange reserves soared by $16.663 billion to touch a lifetime high of $633.56 billion in the week ended August 27, mainly due to an increase in Special Drawing Rights (SDR) holdings, RBI data showed. On Wednesday, RBI had said the International Monetary Fund (IMF) made an allocation of SDR 12.57 billion (equivalent to around $17.86 billion at the latest exchange rate) to India on August 23, 2021. SDR holdings are part of the foreign exchange reserves of a country.
On October 17, a five-judge Constitution bench headed by the CJI unanimously refused to accord legal recognition to same-sex marriage, saying there was "no unqualified right" to marriage.
The CJI also dealt with the principle of affirmative action by the state and said it was meant to achieve broader equality and was not against the right to equality.
Those who consider the rupee as a proxy for virility have started thumping their chests and dreaming of dethroning the dollar from its coveted position, observes Tamal Bandyopadhyay.
The country's foreign exchange reserves increased by $8.895 billion to reach a record high of $642.453 billion in the week ended September 3, the Reserve Bank of India (RBI) data showed. In the previous week ended August 27, the reserves had surged $16.663 billion to $633.558 billion, mainly due to a rise in special drawing rights (SDR) holdings. International Monetary Fund (IMF) had made an allocation of SDR 12.57 billion to India. For the week ended September 3, the increase was on account of a rise in foreign currency assets (FCAs), a major component of the overall reserves, RBI's weekly data released on Friday showed.
Major General S C N Jatar, who passed into the ages on Monday night, thwarted anti-national forces at the peak of the Assam agitation. Colonel Anil A Athale (retd) salutes this officer and gentleman.
Once it gets the nod of the President and becomes an Act, the law would require Indian carriers to pay compensation amount that is equivalent to the rates paid by their global counterparts.
India's external debt rose by 8.2 per cent year-on-year to $620.7 billion as of March 2022, which according to the finance ministry is sustainable. While 53.2 per cent of it was denominated in the US dollar, Indian rupee-denominated debt, estimated at 31.2 per cent, was the second largest, as per the status report on India's external debt released by the ministry. "India's external debt continues to be sustainable and prudently managed. As of end-March 2022, it stood at $620.7 billion, growing by 8.2 per cent over the level a year ago.
ICICI Bank has the largest proportion of SDR loans as a percentage of its total, followed by state-run United Bank of India and Canara Bank.
India's external debt stood at $554.5 billion at end-June, recording a decrease of $3.9 billion over its level at the end of March 2020, the RBI said on Wednesday. Further, the external debt to GDP ratio increased to 21.8 per cent at June-end 2020 from 20.6 per cent as on March 31.
The debt resolution involves RCom exiting the SDR framework with no conversion of debt into equity and zero write-off by lenders, Anil Ambani said, adding that he expects full closure by March 2018.
The new circular provides for a framework for early recognition, reporting and time-bound resolution of bad loans.
China Development Bank takes Reliance Communications to NCLT over loan default
The country's foreign exchange reserves surged by $58.38 billion in April-September 2021 to $635.36 billion, says an RBI report released on Wednesday. The forex reserves were at $576.98 billion at end-March 2021. The Reserve Bank of India (RBI) publishes half-yearly reports on management of foreign exchange reserves.
Under the watchful eyes of five wise men, who know the industry well, banks will not find it easy to hoodwink the system, says Tamal Bandyopadhyay.
The next step is the charter, which aims to safeguard consumer rights and address criticism about the government not doing enough for passengers.
Reconstruction efforts after the Russia-Ukraine war will be dominated by the heft of the membership of major nations across international organisations. India is hamstrung because it does not play host to any major global institution nor does it hold positions of significant influence in the ones in which it has membership. As a result, the world's sixth largest economy is obliged to follow the rules set by most of them.
'China could place the currency on a par with global biggies. But it has to wait to be a serious challenger.'
The currency market won't care for our moans, groans, cries and sighs. The rupee will find its own level, explains Tamal Bandyopadhyay.
Top 10 debtor countries owe 86% of total IMF loans
Test your knowledge of international finance with our quiz on the renminbi
'To simply let the rupee depreciate to any level according to market forces will not be in the country's interests.'
The RBI has been critical of banks for using restructuring schemes to hide the stress.
The move, amid a rise in slippages from restructured assets, is aimed at resolving stress in the banking system.
Banks given 180-day time for NPA resolution, matter to be referred to Insolvency Board within 15 days.
India's foreign exchange reserves nearly hit a nine-month low and fell by $5 billion to $302 billion for the week ended December 16, on account of revaluation in foreign currency assets.
Banks to get more aggressive and act like PE investors
For several years the Chinese authorities have been taking steps to internationalise the use of the yuan.
RBI kept on adding non-SDR currencies over the next couple of years till they reached about 7.5% of reserves, which is the level they continue to hold.
The continuing stress faced by corporate India has weakened their debt-servicing capability and this is reflected in the banks' books, as yet-burgeoning bad loans.
India's foreign exchange reserve went up by $3.59 billion to $254.05 billion during the week ended December 19, 2008 mainly on account of revaluation in foreign currency. The foreign currency assets rose by $3.58 billion to $ 245.30 billion, according to the latest data released by the Reserve Bank of India on Friday.
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