World Bank president Ajay Banga is among the Indians who have made it to the prestigious Times's list of 100 most influential people in the world released on Wednesday. Time's profile of the former Mastercard CEO, written by US Treasury Secretary Janet Yellen, said, "It's not easy to find a leader with the skill and drive to take on the monumental task of transforming an essential institution, but since becoming World Bank president last June, Ajay Banga has done just that." She said Banga comes to the World Bank after leading a global organisation through which he brought millions of unbanked people into the digital economy.
After taking oath, he hailed his state Telangana, Bhimrao Ambedkar, apart from raising the AIMIM's slogan for Muslim, along with the West Asian country.
Foreign portfolio investors' (FPIs') net investment in the domestic debt market in October was the third highest during the current calendar year as foreign investors rushed to lock in higher returns amid global uncertainty and geo-political tensions, market participants said. FPI inflows in debt stood at Rs 6, 322 crore in October against Rs 768 crore in September, according to data on the National Securities Depository Limited (NSDL). Market participants said that the majority of the inflows were channelled through corporate bonds.
MMFs invest in fixed-income instruments maturing in less than one year, minimising interest-rate risk.
From the word go, Bihar growled its needs out when an MP from the state said aloud: "Give something for Bihar also, Madam." Every time the Budget mentioned cities and towns in Andhra Pradesh, "Kursi Bachao" was the call from Congress MPs.
Gold prices tumbled by Rs 3,350 to Rs 72,300 per 10 grams in the local market in New Delhi on Tuesday amid subdued demand by jewellers after the government announced the customs duty cut on the yellow metal and silver to 6 per cent.
Questioning the Congress's stand on caste census, the BJP leader made certain remarks on Gandhi's caste that triggered the uproar and had Congress members trooping into the well of the Lok Sabha. "Anurag Thakur insulted me and I don't want any apology from him. Abuse or insult me as hard as you can but don't forget we will pass the caste census in this Parliament for sure," the Leader of the Opposition said.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
Obama plans to write checks to Treasury on a monthly basis, effective March 1, but will cut the first check in April.
As soon as the House resumed at noon, Joshi said, "In protest against the action of their party's former president (Rahul Gandhi) and in your honour and in honour of the Constitution, we would participate in the Question Hour while remaining standing in silence. We request for your permission".
Rajya Sabha Chairman Jagdeep Dhankhar on Friday expressed anguish over Leader of the Opposition Mallikarjun Kharge trooping into the Well of the House during an opposition protest, saying it is for the first time that a person occupying the post has engaged in such conduct.
From the Sensex basket, Sun Pharma, Maruti, Power Grid, Titan, JSW Steel, Tech Mahindra, Larsen & Toubro and State Bank of India were the major laggards. Tata Motors, Tata Consultancy Services and Nestle were the gainers.
He said the new short-term treasury bills will be part of the government's same borrowing programme. To meet its burgeoning expenditure, necessitated by the slowing down economy, the government has pegged its market borrowing at over Rs 4.5 lakh crore (Rs 4.5 trillion) for the current fiscal, bulk of which is being raised in the first half.
Short-term government bonds fell behind longer-dated securities in demand this month so far due to a liquidity crunch in the banking system and expectations of a delay in a rate cut, said market participants. Investors have favoured longer-tenure government bonds, or g-secs, with insurance companies and pension funds leading the charge by stocking up on those with maturities of 30 years and more. Preference for longer-term securities was strengthened by the conclusion of the borrowing programme, which compelled institutional investors to fulfil their requirements in the secondary market.
He also pointed out the high sums earned by the coaching centres leading to the commercialisation of education.
From first date to a special date: The vlogger & former VJ covers it all.
The April-June quarter (Q1) of the current financial year (FY25) may be soft for banks with loan growth moderation, net interest margin (NIM) pressures, and higher staff and credit costs inching up, according to analysts. Credit growth could ease due to the lagged impact of the Reserve Bank of India (RBI) tightening and deposit growth has weakened, and the current account and savings account (CASA) ratio has declined 10-370 basis points (bps) quarter-on-quarter (Q-o-Q) for many banks.
An MBA from Harvard Business School, Rishad, 32, joined the company almost two years ago as a business manager in the Banking and Finance division, which was then headed by Girish Paranjpe, the present joint CEO of the company's IT business. During his stint with GE Capital, Rishad was working in the treasury. Industry analysts say that Wipro is adhering to corporate standards, by treating the chairman's son at par with other employees.
Aiming to further expand the bilateral economic engagement, US Treasury Secretary Timothy Geithner would travel to New Delhi and Mumbai later this month for the third annual meet of the US-India Economic and Financial Partnership.
Union Finance Minister Nirmala Sitharaman, along with her team of bureaucrats, delved into the fine print of the 2024-25 Budget documents in a press conference, detailing the government's road map on bringing down the debt-to-GDP ratio and bold tax measures.
'Opportunity is there in each segment of the market. There is opportunity in affordable and specifically governed by government initiatives as well as for housing for all.'
'There is also a possibility that Andhra Pradesh may demand a similar package. But as of now, we are only working on a package for Bihar.'
The CBI on Friday told the Supreme Court that RJD supremo Lalu Prasad was playing badminton after being enlarged on bail in a fodder scam case on medical grounds, as it sought cancellation of the relief granted to the former Bihar chief minister.
The Lok Sabha was adjourned twice in the post-lunch period on Thursday as a war of words broke out between the treasury and opposition benches, triggered by Congress MP Charanjit Singh Channi's spat with the Bharatiya Janata Party's Ravneet Singh Bittu.
The BJP leader said the Congress wants to divide the country on the basis of religion and region.
'Didi would always say, 'Why would these young talented singers want to do my songs? Originality has very long legs.' I wonder what she would have to say about this new technology that threatens to tamper with the voices of the singing greats.'
Retail investors could be hesitant to invest in floating rate savings bonds, as these specific bonds tend to be profitable only in a rising rate environment, according to market participants. The Reserve Bank of India has allowed subscriptions for floating-rate savings bonds, 2020, via retail direct - an online portal that enables individual investors to purchase government securities.
They realised that the Portuguese were better prepared to defend Daman than Dadra and Nagar Haveli. If reinforcements from Daman were to reach Silvassa, there was no chance of defeating the Portuguese. They decided that cutting Daman's communication lines would have to be their top priority before attacking Silvassa. A fascinating excerpt from Neelesh Kulkarni's new book, Uprising-The Liberation of Dadra and Nagar Haveli.
A formal announcement by the company is expected anytime, sources added. Treasury stock refers to shares of a company which are not issued to the public, as some are kept in the company's treasury to be used to create extra cash when needed.
Amid much fanfare, the makers and star cast of Ishq Vishk Rebound unveiled the trailer for their coming teen romance.
The trouble started when the SP member wanted to make a point on an ongoing heated discussion between Opposition parties and the Chairman in the Rajya Sabha over certain remarks made by BJP MP Ghanshyam Tiwari on Kharge a few days ago.
US's terrible political and economic leadership will ultimately cost the dollar its value. India must act early to avoid being dragged down, suggests R Jagannathan.
'I would have become a big star 11 years ago if things had worked as per my plans.'
National Democratic Alliance nominee Om Birla was elected as Lok Sabha speaker on Wednesday after a motion moved by Prime Minister Narendra Modi was adopted through voice vote, capping intense debate on the issue with the opposition in a rare move proposing its own candidate.
The Rajya Sabha chairman asked him to authenticate his assertions and refused to accept newspaper clippings that the Congress leader showed to buttress his points.
That he hasn't done so yet, has continued to be active on the political street, in public debate and on social media, signals an important change. It will give his party hope. Maybe the achievement of reducing Mr Modi well below the majority mark will now motivate him to stay committed, observes Shekhar Gupta
The Democrats have elected a set of state representatives who will act as an electoral panel. These representatives will have to pick someone else. This could be Vice President Kamala Harris, who is widely seen as a top contender, but is not popular, points out Aakar Patel.
Banks are preferring instruments with higher premium over government securities for their held-till-maturity (HTM) portfolio, following the new investment norms, which came into effect from April 1. They are stocking up on corporate bonds and state government securities to boost yield on their portfolio, according to market participants. "Definitely, if there is a good spread available and without lower credit risk, those instruments will be favoured to boost the yield on the portfolio.
It is possible to be blind to this and pretend to carry on as if nothing has happened but that will not change the reality, asserts Aakar Patel.
