Country's largest lender State Bank of India (SBI) is looking to be among 10 top global banks in market capitalisation terms in the next five years, chairman CS Setty said on Wednesday. "The scope for value creation for the stakeholders is potentially very high. So the larger ambition is if the market supports whether we can be part of the top 10 global banks in terms of the market capitalisation (five years)," he said after listing of shares issued under Qualified Institutional Placement (QIP) at NSE.
Indian economy grew at 7.9 per cent in fourth quarter of 2015-16.
Nobel Peace Prize laureate and economist Muhammad Yunus has urged the World Bank to reform its policies, saying the development lender has failed to achieve its main goal of eradicating poverty because of its failure to modernise anti-poverty lending programmes.
Sabalenka primed for Rybakina rematch with eyes on third Australian Open crown
The World Bank on Tuesday projected India's economy to grow at 8.3 per cent in 2021 and 7.5 per cent in 2022, even as its recovery is being hampered by an unprecedented second wave of the COVID-19, the largest outbreak in the world since the beginning of the deadly pandemic. The Washington-based global lender, in its latest issue of Global Economic Prospects released here, noted that in India, an enormous second COVID-19 wave is undermining the sharper-than-expected rebound in activity seen during the second half of Fiscal Year 2020/21, especially in services.
Kaushik Basu, till recently the chief economic adviser of the government of India, who created a political firestorm in April when he said here on the sidelines of the World Bank/International Monetary Fund meetings that no economic reforms were likely in India before 2014 when parliamentary elections are due, has been appointed the World Bank's Chief Economist and Senior Vice President.
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.
In a major report prepared for the World Bank by the Potsdam Institute for Climate Impact Research and Climate Analytics, the rise in temperature will trigger a cascade of cataclysmic changes that include extreme heat-waves, declining global food stocks and a sea-level rise affecting hundreds of millions of people.
The IMF on Monday raised India's growth projection to 7.3 per cent for fiscal 2025-26, up 0.7 percentage point from its October forecast, on the back of better-than-expected performance of the economy. The Washington-headquartered multilateral lending agency has also revised India's Gross Domestic Product (GDP) growth forecast to 6.4 per cent for fiscal year 2026-27 beginning April 1, 2026, from its earlier estimate of 6.2 per cent.
Domestic gold exchange-traded funds (ETFs) saw their holdings jump 65 per cent to 95 tonnes in 2025, elevating Indian ETFs to sixth place globally, going by holdings of the yellow metal. At the end of 2024, they ranked eighth with 57.5 tonnes of holding, according to an analysis of data from the World Gold Council (WGC).
The World Bank condoled the Mumbai blasts and expressed "deepest sympathies" to the families of the victims. \n
The SC has gone a step further to state that even if one were to not apply the codified GAAR provisions, the judicial GAAR would continue to apply, point out Pranav Sayta and Bhargav Selarka.
'...including my baby sisters, age three and one.' 'My dad was humiliated, and he started screaming at them.'
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
World Bank president James D Wolfensohn will begin his two-day India visit from Wednesday to monitor the bank-funded schemes and discuss with government officials ways to step up lending to the country.
'The trade deficit in some sectors is huge and that is an area of opportunity to localise.'
Paul D Wolfowitz took charge as the World Bank's 10th President on Wednesday.
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
'India is quickly becoming the beating heart of modern chess, and its role as an economic power is more and more visible.'
Lalit Modi posted a social media video from Vijay Mallya's 70th birthday party in London, referring to the pair as the 'two biggest fugitives' of India.
Severe heatwaves, responsible for thousands of deaths across India over the last few decades, are increasing with alarming frequency and soon the country could become one of the first places in the world to experience heatwaves that break the human survivability limit, according to a new report.
Minakshi Hooda continued her sparkling run to become the third Indian woman boxer to storm into the final of the World Championships.
For the remaining projects, it is difficult to arrive at an estimate.
Surprised at the World Bank's decision to appoint a neutral expert, as sought by the Indian government, and at the same time establish a Court of Arbitration as wanted by Pakistan, India said proceeding with both the steps simultaneously "legally untenable".
The key question is how much of the latest growth record represents recovery from the 2020-2021 downturn, and what is the sustainable growth rate now, asks T N Ninan.
Responding to questions, the World Bank president insisted that this slowdown is temporary.
About 85 per cent of the digital payment transactions take place through UPI in India, and the country can be a case study in inclusive, secure, and scalable Digital Public Platforms (DPPs), Reserve Bank Governor Sanjay Malhotra has said. He was speaking at a "High-Level Dialogue on Forging Economic Resilience through Digital Public Platforms" organised by RBI on the sidelines of the Annual Meetings of the World Bank and International Monetary Fund in Washington, DC on Tuesday.
In a critical comment on India, one of the fastest-growing economies in the world, the World Bank said that robust economic growth and food security alone would not remove the tag of being 'one of the most malnourished nations'.
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.
World Bank resumed financing the Mumbai Urban Transport Project on Thursday lifting the suspension imposed in March.
'Just like oral hygiene, cyber hygiene must become a daily habit,' says Beena Vaheed, executive director, Bank of Baroda. 'It is not enough to rely only on banks, companies, or the government. Each of us must play our part.'
World Bank economists have urged the Indian government to cut unproductive farm subsidies and utilize agriculture spending the most productive manner.
BJP leaders say Nitin Nabin's low-profile image has made him a favourite of Amit Shah, who was in search of such a leader to appoint to the top party position -- someone who follows the Modi-Shah line as BJP president without "ifs and buts".
It will enable real-time intel sharing among banks and other financial sector participants to strengthen customer protection against digital fraud.
I am inclined to believe that the Venezuela adventure is not an indication of American strength, alas, but rather of American weakness, points out Rajeev Srinivasan.
The Night Manager Season 2 is a comfortably paced, tension holding series, with a couple of solid twists, observes Deepa Gahlot.
Glimpses from around the world that will make you smile and cry.
Rejecting World Bank's warning of growth and fiscal slippages, the government said on Monday that the banks prediction that India needs major reforms thrust to achieve eight per cent growth was indeed unfortunate.
