Capital dumping is being used by foreign e-commerce firms to subsidise and engage in predatory pricing, oil-to-telecom conglomerate Reliance Industries (RIL) has told the Associated Chambers of Commerce and Industry of India (Assocham) in an internal document. The document alleges that this is leading to massive unemployment and financial distress among small merchants and kirana stores. It consists of various recommendations and proposed changes that deal with Press Note 2 of 2018 (PN 2), which RIL wanted Assocham to present to the government, according to sources.
The India-Japan 2+2 dialogue added strategic heft to the special relationship in the wake of growing Chinese assertiveness on regional affairs, points out Dr Rajaram Panda.
What will be the impact on the Euro itself? Will it devalue and to what extent?
Says it is ready to show flexibility on all major issues
This will encourage exports and discourage non-essential imports such as precious metals
Announcing her appointment, IMF Managing Director Christine Lagarde hailed the Mysore-born Gopinath as "one of the world's outstanding economists with impeccable academic credentials, a proven track record of intellectual leadership and extensive international experience".
Bankers have read the Reserve Bank of India's (RBI) comments on foreign banks' market share in India as an indication that the promised review of policies on the presence of overseas banks in 2009 is unlikely to yield any greater leeway within which they can operate.
A total of 183 stocks rallied 10 per cent, of which 32 stocks saw price appreciation of 20 per cent each.
NITI Aayog vice chairperson Rajiv Kumar tells Indivjal Dhasmana that additional funds could be generated through divestment, and that the fiscal deficit should be widened while focusing on the revenue deficit.
The estimates of national income and growth do not pass the 'smell test'.
The 30-share Sensex ended down 159 points at 27,425 and the 50-share Nifty closed down 24 points at 8,299.
The Reserve Bank of India, for the second straight time, on Thursday kept its key policy rate unchanged at 5.15 per cent, maintaining its accommodative policy stance as long as it was necessary to revive growth. The central bank retained GDP growth at 5 per cent for 2019-20 and pegged it at 6 per cent for the next fiscal.
Barring stray references such as the 'dual control' of banks and shifting the goalposts during demonetisation, he is not in a fault-finding mode with the government, notes Tamal Bandyopadhyay.
He said India would continue to actively pursue and promote its geo-political, strategic and economic interests on the seas, in particular the Indian Ocean.
FPIs, which are holding large exposures in Indian debt, could also be expected to book some capital gains as yields slide down
Gokhale and Pompeo expressed satisfaction over the significant progress and the quality of the India-US Strategic Partnership
Rajan's deputy Khan cautions against early celebration of falling inflation, unhedged forex exposure.
Shares of ING Vysya Bank and Kotak Mahindra Bank rallied by up to 6% on the BSE on reports that Kotak Mahindra Bank in final stages to buy the bank.
After fighting inflation for more than two years, Reserve Bank of India (RBI) Governor Duvvuri Subbarao finally managed to bring it below the five per cent level - the tolerance level of the central bank - in FY14.
As deputy governor, Patel headed the RBI panel to draft the monetary policy report, which became the basis of the ongoing reforms at the apex bank
It has always been accepted in various apex court rulings that economic policy is not justiciable. It can intervene only if the legislation is seen to violate fundamental rights says Sukumar Mukhopadhyay.
'Rather than cutting and pasting from advanced economies, we should use basic economic principles to think about what is right for India at the stage of development at which we are,' says Chief Economic Advisor Krishnamurthy Subramanian.
'While economic ties are making incremental progress, it is in the security and strategic domains that the India-Japan synergy is more compelling,' says Dr Rajaram Panda.
Trinamool Congress MLA Mahua Moitra alleged that the Centre's social media hub policy was to be used as a tool to monitor social media activities of the citizens and should be quashed.
Banks led the decline with Nifty Bank and BSE Bank index dropping over 3% each.
Commercial papers, certificates of deposit also dry up
Ahead of the International Fleet Review being held in Vizag, Naval chief Admiral RK Dhowan spoke of the changing perception of the navy and the many challenges it faces.
Achieving inflation target of 4 per cent, recovery after remonetisation and hardening profile of oil prices are some of the risks which the RBI is watching closely, says Gaurav Kapur.
Modi announced a USD 14-million grant for community development projects in the Caricom and another USD 150 million line of credit for solar, renewable energy and climate- change related projects, a statement released by the Ministry of External Affairs said.
Indian economy has good fundamentals and sizeable foreign reserves, RBI Governor Raghuram rajan said.
'If Indians are to be truly protected, Parliament must review and address these dangerous provisions before they become law.'
Power transmission infrastructure in 18 major cities could be potentially hacked.
It is too early to judge if the fall in Nifty from an all-time high of 11,170 to February 12 closing of 10,539 is a big trend reversal or merely a short-term correction, says Devangshu Datta.
In a recent article, Rajan has ridiculed critics of the exchange rate policy.
The President said that for rapid creation of jobs in the manufacturing sector, the government will strategically promote labour-intensive manufacturing.
... Are far-reaching social changes coming with it, asks Ajit Balakrishnan.
Sensex lacklustre, bluechips in focus.
The outgoing Chief Economic Advisor will always be remembered for his remarkable passion, his large imprint on policymaking and the high level of public debate he fostered
Equity mutual funds witnessed an outflow of Rs 9,253 crore in January, making it the seventh consecutive monthly withdrawal, primarily due to profit booking and portfolio rebalancing amid markets touching new highs. The pace of outflows from equities has however slowed for the third month and Gautam Kalia, head - Investment Solutions, Sharekhan by BNP Paribas said that it will likely turn positive soon as investors get used to the new normal. In addition, investors pulled out Rs 33,409 crore from debt mutual funds last month after investing Rs 13,863 crore in December, data from the Association of Mutual Funds in India showed on Tuesday.
