The five-day extradition trial of fugitive diamond merchant Nirav Modi will begin from May 11 in a part-remote setting, a UK court has ordered. Modi is fighting his extradition to India over the nearly USD 2 billion Punjab National Bank (PNB) fraud and money laundering case.
It will escalate costs, mandate regulator to check malpractices, set standards.
The branch is likely to be inaugurated on Saturday by Prime Minister Narendra Modi, who is on a three-day visit to China
India will also play an increasingly important role as one of the Asia-Pacific region's major economic growth engines, helping to drive Asian regional trade and investment flows.
The economic impact of the Omicron variant of COVID-19 on emerging economies will depend on a mix of government restrictions, public comfort with social interactions, and capacity of governments and central banks to provide additional policy support to the private sector, Moody's Investors Service said on Wednesday. The emergence of the new variant poses new risks to the global economic growth and inflation outlook, as concerns mount about the variant's health risks and several countries have imposed new travel restrictions in recent days. These restrictions will likely increase over the coming weeks until scientists learn more about the variant, it said.
Mallya has denied that he had fled India and said he would comply with laws.
As fuel prices surged in September, the government's decision to ask companies to cut price by Rs1 each on a litre of petrol and diesel came as a dampner for private players.
Both lenders and Etihad are not comfortable with the entities holding stake in Jet as they have no proven credentials in running a big business
In the 15-year dataset, the researchers noted an average of 7.8 incursions per year even though the Indian government's estimates are much higher.
'Those who come from outside are surprised at the relatively small strength of the RBI supervisory cadre, relative to the needs of the country and the needs of the financial sector.'
Loans make money for the lender in the initial years but losses come later when they turn bad.
Indian society may be more advanced than we think it is, notes Ajit Balakrishnan.
The Indian economy recovered from the Covid-induced downturn during 2022 and is poised for further improvement in the coming quarters though downside risks emanating from geopolitical tensions, strengthening dollar and elevated inflation will continue. The positive trajectory in the growth trend and improved fundamentals will help the nation in neutralising the impact of global headwinds which are expected to have a bearing on the country's exports in the months to come. The challenges before the government and the Reserve Bank in the new year would be to arrest inflation, check declining value of rupee against US dollar and promote private investment and growth, with a view to ensure that the country remains one the fastest growing major economies of the world.
Govt wants domestic production so as to save foreign currency.
The price of diesel sold to bulk users has been hiked by about Rs 25 per litre in line with a near 40 per cent rise in international oil prices, but retail rates at petrol pumps remain unchanged, sources said. Petrol pump sales have jumped by a fifth this month after bulk users like bus fleet operators and malls queued up at petrol bunks to buy fuel rather than the usual practice of ordering directly from oil companies, widening the losses of retailers. Worst hit are private retailers like Nayara Energy, Jio-bp and Shell, who have so far refused to curtail any volume despite a surge in sales.
The Congress released a booklet 'Nau saal, Nau sawaal', asking nine questions from Modi. The BJP rejected the Congress' criticism as a 'bundle of lies and mountain of deception' and said the questions are born out of 'pathological hatred' of the PM.
Sources said Unsworth had submitted a one-page letter indicating his interest in Jet but without any accompanying documents.
Supreme Court has posed a question to Mallya about the truthfulness of his disclosure of assets and transfer of $40 million to his children
This apart, to further increase capacities, Bharat Biotech has partnered with Indian Immunologicals (IIL) to manufacture the drug substance for Covaxin. The technology transfer process is underway and IIL has the 'capabilities and expertise' to manufacture the inactivated viral vaccines at commercial scale.
In a society where corruption is endemic and you want to get something done then it is all too tempting to offer a bribe, Swraj Paul said.
A reception often reserved for rockstars came the way of mining mogul Anil Agarwal when he started revealing nuggets of his ascent from a scrap-metal dealer to one of India's most prominent self-made industrialists on social media. And now he has been flooded with booking writing proposals and has even been offered money for a biopic. In February this year, Agarwal, 68, started tweeting his journey from Bihar to Mumbai first and then to London to head a globally diversified natural resources company with interests in zinc-lead-silver, iron ore, steel, copper, aluminium, power, oil and gas.
They are small town boys who went on to make it big in global financial powerhouses.
Kingfisher Airlines owed Indian banks Rs 7,000 crore as of January.
British lawmakers will debate the issue of press freedom and safety of protesters in India next Monday in response to an e-petition which had crossed the 100,000-signature threshold required for such a debate, the House of Commons Petitions Committee confirmed on Wednesday.
Mallya offered to pay Rs 4,000 crore (Rs 40 billion) as settlement.
The Saveetha Institute of Medical and Technical Sciences. The Indian School of Mines, Dhanbad. Vinay Umarji explains why these two universities have made India proud.
oreign Policy magazine named him as one of the world's top 100 global thinkers in 2011.
Bankers pay a small price for their misdeeds, no matter how large the cost to their banks or to the economy at large, says TT Ram Mohan.
Israel's President Isaac Herzog on Monday appealed to Prime Minister Benjamin Netanyahu to immediately halt his controversial judicial overhaul, warning that the move has put the country's security, economy and society under threat.
'According to CMIE data, employment in manufacturing saw a reduction from 51 million in the country in 2016 to 27 million in 2021. 'That is, it has halved in just 5 years. 'At the same time, the national lockdown resulted in reverse migration to rural areas, and an increase in the number of workers in agriculture. 'It also means joblessness has increased in agriculture because there are too many workers; the number of workers went up from 200 million to 232 million.'
On February 22, 2013, the Reserve Bank of India issued guidelines on 'Licensing of New Banks in the Private Sector'.
Raghuram Rajan rejected the argument that inflation has come down largely because of "good luck" stemming from low oil prices.
Learning perhaps from the Kargil debacle, Musharraf tried hard to evolve as a statesman in his dealings with India, recalls Rana Banerji, who headed the Pakistan desk at RA&W.
People aged 45 and above account for about 88 per cent of all COVID-19 deaths in India making them the most vulnerable section, the Union health ministry said on Wednesday, a day after the government opened up vaccinations for all those in the age bracket from April 1.
Many analysts argue with limited space for a fiscal stimulus, the burden of lifting growth lies squarely on monetary policy.
'And that means all of us have to be very careful.'
The public sector firm has launched STVs in the range for Rs 23 to Rs 41 for prepaid customers whereas postpaid users have to pay a fixed monthly charge of Rs 20 to Rs 40 to avail the cheaper rates.
'With over 50 per cent of medical seats reserved for those who have the ability to pay a fee ranging from Rs 50 lakh to Rs 1.5 crore for a five-year MBBS course and quotas in accordance with affirmative policies in government colleges, the band of seats available for the not-so-rich and non-OBCs is very narrow.'
Most of the NBFCs do not take public deposits but that does not mean they cannot create systemic risks. The banking system has at least Rs 57,000 crore exposure to IL&FS. Haven't the banks invested public money in IL&FS papers, asks Tamal Bandyopadhyay.
