The World Bank has announced that it will stop all its programmes in Russia and Belarus with "immediate effect" in response to Moscow's military operations in Ukraine and "hostilities" against the people of the war-torn country. On February 24, Russian forces launched military operations in Ukraine, three days after Moscow recognised Ukraine's breakaway regions - Donetsk and Luhansk - as independent entities. The decision comes as a large number of countries, organisations and businesses are severing ties and have imposed sanctions on Russia over the country's invasion of Ukraine, and with Belarus for its support and cooperation with Moscow.
Canadian firm Manulife and Mahindra & Mahindra (M&M), an Indian automaker with interests in financial services, have signed an agreement to form a 50:50 life insurance joint venture (JV) with a total capital commitment of up to Rs 3,600 crore each totalling Rs 7,200 crore.
Growth in India is expected to slow to 6.3 per cent in FY 2023/24 (April-March), a 0.3 percentage point downward revision from January, the World Bank said Tuesday but noted there is an unexpected resilience in private consumption and investment and robust growth in the services. The World Bank made these points in its latest edition of Global Economic Prospects according to which global growth is projected to decelerate from 3.1 per cent in 2022 to 2.1 per cent in 2023. In Emerging Markets and Developing Economies (EMDEs) other than China, growth is set to slow to 2.9 per cent this year from 4.1 per cent last year. These forecasts reflect broad-based downgrades.
Officials from both India and the US in the recent past have indicated that a "fair deal" will be concluded soon, with Indian officials holding that more formal rounds of talks are not needed.
From Rs 73k to over Rs 1.2L between January-December 2025 -- is buying gold in 2026 still sensible?
'India is quickly becoming the beating heart of modern chess, and its role as an economic power is more and more visible.'
India's rural employment guarantee programme MNREGA has been ranked as the world's largest public works programme, providing social security net to almost 15 per cent of the country's population, the World Bank has said.
Jamiat Ulama-i-Hind chief Maulana Arshad Madani's remarks alleging discrimination against Muslims, citing the Al Falah University case, have sparked a row with the BJP, who accused him of supporting terrorists.
Gujarat police arrest a woman allegedly involved in trafficking job aspirants to Myanmar and Thailand for cyber slavery. The accused lured people with promises of high-paying jobs and forced them to work for international cyber crime syndicates.
CPGRAMS -- an online platform available to citizens 24x7 to lodge their grievances to public authorities on service delivery -- has existed for close to two decades. But it has never been this active, points out Tamal Bandyopadhyay.
The World Bank condoled the Mumbai blasts and expressed "deepest sympathies" to the families of the victims. \n
During that period, the World Bank Group's private sector arm, IFC, committed $1.2 billion in India.
Even by conservative assumptions that 5 to 10 per cent of infected individuals develop long Covid, India today may be home to 50 to 100 million infected individuals -- many silently coping with breathlessness, fatigue, palpitations, brain fog, or unexplained clotting tendencies.
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
A boat ride through Vietnam's most glorious landscape.
Remittances to India are likely to drop by 23 per cent from USD 83 billion last year to USD 64 billion this year due to the coronavirus pandemic, which has resulted in a global recession, the World Bank has said. Globally remittances are projected to decline sharply by about 20 per cent this year due to the economic crisis induced by the pandemic and shutdowns, according to a World Bank report on the impact of the Covid-19 on migration and remittances released on Wednesday.
Investors who constantly hop between 'top-performing' funds often end up earning far lower returns than the very funds they invest in -- simply because they enter late and exit early. Best investors don't chase returns, they chase discipline, says Ramalingam Kalirajan.
If he cannot do it this term by using his bureaucracy and experts from different fields, it will be a tragedy, asserts Ramesh Menon.
India is the largest client for the World Bank Group.
The World Bank also approved $200 million for Pakistan, $100 million for Afghanistan, $7.3 million for the Maldives and $128.6 million for Sri Lanka.
Once a quiet riverside ritual, Dev Deepawali has evolved into UP's largest soft-power spectacle -- merging faith, art, enterprise into a global cultural brand that reflects state's growing confidence.
'We kept importing educational models from outside that had no connection to our cultural and intellectual strengths.'
Clarity on Tata Sons' position on listing, as of 2025, would help define the future of the group better, irrespective of the RBI stand. As of now, the ball is in the RBI's court, and everyone is watching the space, points out Nivedita Mookerji.
The World Bank's move came as it told the two countries that it was responding to their separate proceedings initiated under the Indus Waters Treaty 1960.
Sanctioning Russian oil would have led to a sharp surge in oil prices to above $80 per barrel levels, which would impact pump prices in the US ahead of midterm elections next year.
Payment apps PhonePe and Paytm have helped citizens avert potential financial frauds worth Rs 200 crore by using the fraud risk indicator platform developed by the Department of Telecom, a senior Walmart group official said on Wednesday.
Prime Minister Narendra Modi on Friday launched a sharp attack on country's first premier Jawaharlal Nehru, claiming he prevented Sardar Vallabhbhai Patel from fully integrating Kashmir into the Indian Union.
The World Bank's executive board unanimously selected 63-year-old Malpass, who is currently Under Secretary of Treasury for International Affairs, as the bank's 13th President for a five-year term beginning April 9.
'An asset must generate income. Equities yield dividends, bonds pay coupons, deposits give interest, and real estate earns rent.' 'Gold, silver, and even Bitcoin produce no income, they merely store value. So, they should not be compared to productive assets.'
England racked up an eighth successive victory against Wales with a 3-0 cruise in an international friendly at Wembley on Thursday.
World Bank President Robert Zoellick on Friday called on Prime Minister Manmohan Singh and discussed funding for the changing needs of the country.
Here's what Indian investors diversifying into equities, ETFs, and real estate abroad to manage risk, returns, and currency exposure must watch out for.
President Droupadi Murmu addressed Indian Police Service probationers, highlighting the growing threat of 'digital arrest' scams and emphasizing the importance of ethical policing and public service.
The bulk loan offered to India is for developing its infrastructure projects and to achieve the millennium development goals. Further, part of the loan would be spent in the seven low-income states -- Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Orissa, Rajasthan, and Uttar Pradesh -- to support the poverty reduction programmes.
This will be Jim Young Kim's first visit to India after taking over as President of the World Bank Group last July.
Even as the World Bank has revised India's growth figures by 0.4 percentage points as compared to its January forecast, India remains the fastest growing major economy in the world, the World Bank officials said.
Pakistan has urged India to fully adhere to the Indus Water Treaty (IWT), expressing concerns about the level of detail in flood information shared through diplomatic channels.
A recent World Bank report placing India among the most equal countries globally may present a limited view of inequality, with economists suggesting that broader data sets could tell a different story. According to the report, India's Gini index (or coefficient/ratio), a key measure of inequality, stood at 25.5 in 2022-23, placing the country fourth globally in terms of equality, behind only the Slovak Republic, Slovenia, and Belarus.
Group winners Flamengo were held 1-1 by Los Angeles FC to finish on seven points, one ahead of Chelsea. Esperance finished third with three points while LA FC were bottom with one point.
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