The United States has voiced scepticism over Pakistan's claim of having put some "restrictions" on disgraced nuclear scientist A Q Khan after his release from a five-year house arrest, saying it will closely monitor the situation. The proof of the pudding is in the eating, a US official was quoted as saying indicating Washington's disapproval of the release of Khan who is accused of running a clandestine nuclear proliferation ring.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
It has mostly been a one-way street for markets that have moved up sharply since July. The front-line indices - the S&P BSE Sensex and the Nifty50 - have gained 6.7 per cent and 7.3 per cent, respectively, in the past three months. The rally in mid- and small-caps has been sharper, with both indices surging 14 per cent and 9 per cent, respectively, during this period. This sharp run has made analysts at Jefferies cautious.
Poland, Britain against allowing Russian, Belarusian athletes at Paris Games
All members of the Monetary Policy Committee (MPC) -- Shashanka Bhide, Ashima Goyal, Jayanth R Varma, Mridul K Saggar, Michael Debabrata Patra and Shaktikanta Das -- had unanimously voted to keep the policy repo rate unchanged at 4 per cent after the three-day meet of the panel earlier this month. Further, except Varma, other members voted to continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target going forward. Varma expressed reservations on this part of the MPC resolution, according to the minutes.
The apex court raised the ceiling limit of iron ore mining from 28 MMT to 35 MMT for Ballari district, and from 7 MMT to 15 MMT for Chitradurga and Tumkur districts.
Former ICC Elite Panel umpire Simon Taufel believes it will not be practical to outlaw the switch-hit shot, adding that it's 'impossible' for the on-field umpire to monitor the batsman for change in grip or stance.
Continuing their massive selling spree for the ninth consecutive month, foreign investors dumped Indian shares worth Rs 50,203 crore in June -- the highest net outflow in over two years -- amid aggressive rate hike by the US Federal Reserve, elevated inflation and relatively higher valuation of domestic equities. Foreign portfolio investors (FPIs) have now pulled out around Rs 2.2 lakh crore from domestic equities in the first six months of 2022 -- the highest-ever net withdrawal by them. Before that, FPIs withdrew Rs 52,987 crore in the entire 2008, data with depositories showed.
Reserve Bank Governor Shaktikanta Das on Wednesday said underlying economic activity in India continues to be strong, but external factors will cause some "dent" to the economy. Speaking at the BFSI Insight Summit 2022 organised by Business Standard, Das said the RBI tracks 70 fast moving indicators and most of them are in the "green box". It is the external sector, mired by a fear of recession or clear visibility about slowing growth in a large part of the world, where the challenges lie, he said, adding that the impact of external demand will "dent" the economy.
It is nearly after 13 years that a foreign brokerage has resumed holistic coverage on stocks of public sector banks (PSBs). To that extent, Morgan Stanley's report dated March 3, where the analysts have listed their order of preference for PSB stocks, is an indication that the state-owned banks may once again be attracting some interest, thanks to three back-to-back quarters of good results in FY21 so far. "State-owned banks' balance sheets have improved, and bad loans formation should moderate going forward," the analysts note and this is the key reason for them to relook at their stance on PSBs. While State Bank of India (SBI) remains their preferred pick, stocks of Bank of Baroda (BOB) and Punjab National Bank (PNB) have been upgraded from 'underweight' to 'equal-weight'. The brokerage maintains its underweight recommendation on Bank of India and Canara Bank.
Japan also reported that five of those missiles landed in its exclusive economic zone, understandably causing grave concern.
These are the highlights of the seventh bi-monthly monetary policy statement for 2019-20 by the RBI amid COVID-19 pandemic:
Markets regulator Sebi's proposal of treating all orders emanating from application programming interface (API) as algorithmic or algo order can restrict the growth of such trading in India, brokerage houses said on Monday. In market parlance, algo trading refers to any order that is generated using automated execution logic. The algo trading system automatically monitors the live stock prices and initiates an order when the given criteria are met.
Retail inflation inched up to 4.48 per cent in October due to an uptick in food prices, government data showed on Friday. The Consumer Price Index (CPI) based inflation was at 4.35 per cent in September and 7.61 per cent in October 2020.
Sri Lanka has asked the Nordic truce monitors not to accede to the rebels' 'unreasonable' demand to remove members in the peace mission who belong to states of European Union, which had outlawed LTTE as a terror organisation.
Although the pact would focus mainly on the Pacific and the South China Sea region, any action designed to deter China with or without New Delhi's active participation is a welcome move, notes Commodore Venugopal Menon (retd).
Industry players credit Sebi's first woman chairperson with putting special emphasis on cyber security, use of tech and data, areas where Sebi is trying to 'stay ahead of the curve'.
The Reserve Bank of India on Friday raised the retail inflation forecast for 2021-22 to 5.7 per cent due to supply side constraints, high crude oil and raw materials cost. The RBI in June had pegged the retail inflation estimate at 5.1 per cent for the current financial year. The RBI has the mandate to keep inflation in a band of 2-4 per cent, with a tolerance level of 2 per cent on either side.
The Gurkha 2021 is built on a ground-up modular architecture platform with an all-new wider and longer body, full new interiors, a new crash-compliant, high-strength chassis, new coil spring suspension on all four wheels fine-tuned to achieve the right balance and offer the best in class ride quality on multiple surfaces -- tarmac, rough rural roads and off the road, the Pune-based company said.
The British-Swedish pharmaceutical major and the UK's medicines regulator said that the vaccines produced by Oxford University in collaboration with AstraZeneca to protect against COVID-19 are safe.
Sentiment in the market will also be guided by other major market movers like trend in the rupee, Brent crude and foreign capital flows.
The Indian Olympic Association on Thursday backed the International Olympic Committee's assertion that the upcoming Tokyo Olympics will weather the coronavirus pandemic and be held on time without a glitch. The IOC and the Tokyo Games organisers are adamant that the Games will start on July 24 as scheduled despite the coronavirus pandemic crippling health care systems and destroying economies across the world.
'We are very watchful about inflation and growth. But the main challenge is economic revival and growth.'
On Thursday, Sri Lanka Cricket announced that India's limited overs tour in June-July was postponed indefinitely.
The Reserve Bank of India on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy faces heat of the second Covid wave.
Das said banks have passed only 0.29 per cent in rate cuts to their borrowers as against 0.75 per cent cuts in interest rates by the Reserve Bank till June.
In a drastic measure to stem any major disruption to the US economy as a result of the coronavirus outbreak, the Federal Reserve has cut its benchmark interest rate to almost zero and said it would buy USD700 billion in bonds. The covid-19 pandemic has sickened more than 156,000 people worldwide and left more than 5,800 dead. The death toll in the US stands at 68, while infections neared 3,700.
Retail investors may safely invest in shorter-duration funds, suggests Sanjay Kumar Singh.
A day after the Reserve Bank of India (RBI) lifted its ban on HDFC Bank on issuing new credit cards, the country's largest private sector lender on Wednesday said it had resources and plans in place to "further reinforce pole position in the credit card segment" and that it would "come back with a bang". "We will aggressively go to the market, with not just our existing suite of credit cards but also new offerings in the form of co-brands and partnerships," Sashidhar Jagdishan, managing director and chief executive officer of HDFC Bank, said in a letter to his employees. The bank's management had earlier indicated that the lender had been sourcing liability customers aggressively over the past few months.
The broader NSE Nifty closed 1.25 points, or 0.01 per cent down at 10,564.05.
The health ministry on Saturday recommended the use of antiviral drug remdesivir in moderate stage of COVID-19 while backtracking from its earlier stance on hydroxychloroquine, saying the anti-malarial drug should be used in the early course of the disease and not on critically ill patients.
Union Minister Ravi Shankar Prasad on Tuesday urged state IT ministers to move swiftly and promote electronics manufacturing through pro-investment initiatives, in a bid to tap a "great opportunity" that now beckons India. Prasad, who interacted with state IT ministers through video-conference against the backdrop of the coronavirus pandemic, told reporters later that eased connectivity norms to facilitate work-from-home, which were to end on April 30, have now been extended till July 31.
Former Indian diplomats on Monday termed the Taliban's takeover of Afghanistan as a "setback" for India strategically, and asserted that the priority for New Delhi right now should be to evacuate its citizens from the war-torn nation.
The IPL has been postponed indefinitely due to the COVID-19 pandemic but there is speculation that it could be held later this year if the situation improves.
Probably in August. We can argue whether RBI is dovishly neutral or neutrally dovish but the telltale signs of at least one more rate cut are strewn all over the policy statement, points out Tamal Bandyopadhyay.
India needs a National Trade Policy Council, chaired by a minister who reports directly to the PM, says Jayanta Roy, former economic advisor to the Union commerce ministry.
What makes Dhankar so outspoken? Could it because as governor he will be in the driver's seat if the Trinamool Congress performs below par in the elections next year? Shikha Shalini reports.
It's got the looks, it's got the features, but the Magnite's success will depend on its pricing, says Rajesh Karkera.
The module was also planning to carry out targeted killings in India and was in the advanced stage of procuring arms, including automatic rifles and pistols, ammunition and explosives to carry out the attacks, he said.
'There is no emergency of a third wave that we are rushing for booster doses.'
