The Reserve Bank of India (RBI) will stay away from changing key rates - including the reverse repo rate - this fiscal in the backdrop of Omicron. However, it will continue to shape the rate movements through liquidity market operations. Soumya Kanti Ghosh, group chief economic advisor, State Bank of India, said whether Omicron surge or not, there is not going to be any hike this year. However, the central bank may continue to shape rates through market operations.
Mathews inspired Sri Lanka to its first One-day international series sweep in more than three years
He, however, made it clear that a sudden change cannot be expected as it was a "sensitive matter" related to an age-old custom and tradition.
The Indian teams made winning starts in the Open and women's sections of the 44th Chess Olympiad in Chennai on Friday.
The game incidentally was an old Sicilian where Shirov tried an unconventional ninth move.
Devon Conway's unbeaten 92-run knock followed by a sublime bowling performance by Ish Sodhi propelled New Zealand to a massive 66-run win against Bangladesh
Bangladesh lost four wickets in the final session to slump to 214 for five on day two of their second and final Test against Sri Lanka on Thursday.
India will be fielding three teams each in the Open and women's sections respectively.
Employees of public sector banks (PSBs) on Thursday went on two-day strike against the move to privatise public sector banks impacting normal banking operation across the country. Many branches across different parts of the country were shut as the United Forum of Bank Union (UFBU), an umbrella body of nine bank unions including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW) had given two day strike call. As a result, services such as deposits and withdrawal at branches, cheque clearance and loan approvals might be affected due to the strike. But ATMs are expected to function as usual.
Chief economist at State Bank of India has revised downward the full-year growth forecast to a low 6.8 per cent from 7.5 per cent earlier for FY2023, citing "the way below GDP numbers for the first quarter". The National Statistical Office on Wednesday released the Q1 growth numbers which showed a consensus growth of 13.5 per cent, pulled down by the poor show of the manufacturing sector, which reported a paltry 4.8 per cent expansion in the first three months of FY23, negating the robust show by the services sector. Consensus forecast was 15-16.7 per cent of which the RBI made the highest forecast of 16.7 per cent.
A day after the Reserve Bank of India's (RBI's) Monetary Policy Committee hiked the policy repo rate by 50 basis points (bps), several commercial banks, including ICICI Bank and Bank of Baroda, raised their external benchmark-linked loan rates by an equal amount on Thursday. HDFC, the country's largest mortgage lender, too, increased its interest rates on housing loans by another 50 bps. In total, it has raised rates by 85 bps since May 4, when the RBI had increased the repo rate by 40 bps in an off-cycle meeting.
Chris Greaves' 45-run knock and two-wicket haul helped Scotland stun Bangladesh by six runs in Group B encounter of the ICC Men's T20 World Cup here at the Al Amerat Cricket Ground (Ministry Turf 1) on Sunday.
Rajneesh Gupta lists the Bangladesh players's T20 Internationals records updated after their T20 World Cup game against South Africa.
A technical advisory group of the World Health Organisation was on Tuesday reviewing data on Covaxin for the emergency use listing of India's indigenously-made vaccine and it could pronounce its decision within the next 24 hours or so, a spokesperson said.
Bank unions said they will not participate in the 'Bharat Bandh' on Tuesday, even as they expressed solidarity with farmers protesting against the new farm laws. Farmer groups, camping at various Delhi border points for over a week, have called for a nationwide shutdown on Tuesday to protest against three recently enacted agriculture-related legislations.
Images from the T20 World Cup Super 12s match between Bangladesh and South Africa, in Abu Dhabi.
House economists at the nation's largest lender State Bank of India (SBI) have urged the government to budget for nursing the pandemic-ravaged economy and not to focus too much on fiscal consolidation as there is a need for more stabilisation measures to sustain the fledgling recovery. And one of the best way to begin the new fiscal is to complete the share sale of LIC this fiscal. This can go a long way in repairing the overstretched balance sheet which in turn will bring down fiscal deficit to a much lower 6.3 per cent in FY23 as the public coffers will be left with a cash surplus of at least Rs 3 lakh crore to begin the new fiscal, SBI chief economist Soumya Kanti Ghosh said in a pre-Budget note on Wednesday.
Soumya Swaminathan called on governments to boost exercises on reporting actual numbers.
Soumya had been made in-charge of the clinics on an honorary basis. She was also designated as advisor to the health secretary-cum-mission director of the National Health Mission.
The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, on Tuesday gave a call for a two-day strike from March 15 to protest against the proposed privatisation of two state-owned lenders. In the Union Budget presented last week, Finance Minister Nirmala Sitharaman announced the privatisation of two Public Sector Banks (PSBs) as part of its disinvestment plan. The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019 and merged 14 public sector banks in the last four years.
A new sub-lineage BA.2.75 of the Omicron variant of the coronavirus has been detected in countries like India and the World Health Organisation is following this, Director-General Tedros Adhanom Ghebreyesus said.
Retail depositors are earning negative returns on their bank deposits and hence, there is a need for reviewing taxes on interest earned, economists at the country's largest lender SBI have said. If not for all the depositors, the taxation review should be carried out for at least the deposits made by senior citizens who depend on the interest for their daily needs, the economists led by Soumya Kanti Ghosh said in a note, which pegged the overall retail deposits in the system at Rs 102 lakh crore. At present, banks deduct tax at source at the time of crediting interest income of over Rs 40,000 for all the depositors, while for senior citizens the taxes set-in if the income exceeds Rs 50,000 per year.
It was Australia's lowest total against Bangladesh in the shortest format, and Bangladesh's first victory against the Aussies in five encounters.
Every 10 per cent rise in crude oil price will shave off around 0.2 percentage point (pp) from India's GDP growth and widen the current account by 0.3 per cent, says Nomura.
However, South Africa have lot of openers stacked on top (Bavuma, Quinton de Kock, Aiden Markram, Rassie van der Dussen and Reeza Hendricks) with a light middle order which is still a huge concern.
The World Health Organisation's technical advisory group will meet on October 26 to consider the Emergency Use Listing (EUL) of Covaxin, a vaccine developed by Hyderabad-based Bharat Biotech protecting against COVID-19, the global health agency's chief scientist said.
Kiwis claim 7th series win of the home summer.
Employees of public sector general insurance (PSGI) companies are observing nationwide one-day strike on Wednesday to protest against intended privatisation of state-owned insurers. The Joint Front of Trade Unions in PSGI companies met on Monday and decided to protest against the decision of the government to privatise PSGI companies. The unions have given a call for one-day strike against the passage of the General Insurance Business (Nationalisation) Amendment Bill 2021 in the Lok Sabha, General Insurance Employees All India Association general secretary K Govindan said. Employees of all four PSGI companies are participating in the day-long strike, he said.
In an unprecedented order, the Supreme Court on Monday summoned one of its former judges, Markandey Katju, to appear in person before it to point out the "fundamental flaws", as claimed by him in the sensational Soumya rape case.
"The feeling is yet to sink in," says Soumya Mukherji, who will now use the money to convert his dream into reality. He tells Prasanna D Zore and Ashish Narsale all about it.
For Bangladesh, who have an abysmal World Cup record with just one of their seven wins since 2007 coming against a Test playing nation (West Indies), the key would be to exploit the conditions in their first ever T20I World Cup clash against England.
The global health agency also emphasized that it must evaluate a vaccine thoroughly to make sure it is "safe and effective".
According to highly placed sources, the finance ministry is likely to extend ECLGS and other loan guarantee schemes for micro, small and medium enterprises (MSMEs), hospitality and tourism sector, and the health infrastructure beyond March 31, Business Standard has learnt. This is likely to be announced by Finance Minister Nirmala Sitharaman as part of her Budget speech on February 1.
Chasing 142 for a win in the dead rubber, Bangladesh never looked comfortable as they lost two wickets in the first over, thanks to brilliant bowling from skipper Southee.
'The Maoists have weakened considerably in Maharashtra, Madhya Pradesh and Chhattisgarh after Milind Teltumbde's death.'
Trent Boult provided the impetus needed for New Zealand with a five-wicket haul as the hosts completed an innings and 52-run victory over Bangladesh on the fourth day of the first Test in Hamilton on Sunday.
Former skipper and pacer Mashrafe Mortaza, who was left out of the 24-man ODI preliminary squad announced on January 4, has not been named in the final squad.
South Africa's skipper Temba Bavuma was pleased with the way his pacers performed in the demolition of Bangladesh in the T20 World Cup Super 12s match, in Abu Dhabi, on Tuesday.
Seven Olympic and six Paralympic disciplines were identified for support at a meeting of the Mission Olympic Cell.
Australia's Dane Bird-Smith won the gold with a Games' record time of 1.19.34 seconds. In a keen contest, he was just four seconds ahead of England's Tom Bosworth. Kenya's Samuel Ireri Gathimba was third in 1.19.51 seconds.
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