State Bank of India's (SBI) two-year-long wait to expand its operations in the United States is set to end with the New York State Banking Department (NYSBD) clearing the bank's application for opening another branch, senior SBI officials confirmed.
In a drastic measure to stem any major disruption to the US economy as a result of the coronavirus outbreak, the Federal Reserve has cut its benchmark interest rate to almost zero and said it would buy USD700 billion in bonds. The covid-19 pandemic has sickened more than 156,000 people worldwide and left more than 5,800 dead. The death toll in the US stands at 68, while infections neared 3,700.
One hundred years ago, a group of 10 revolutionaries carried out an operation that shook the British Empire. Utkarsh Mishra revisits the 'Kakori Conspiracy Case', a turning point in the armed struggle for independence.
'Maharashtrians are facing a dual battle -- numerical battle with North Indians and financial battle with Gujaratis and Marwaris.' 'This has created anxiety about survival and ownership over Mumbai and Maharashtra.'
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.
'Investors with foreign currency-denominated goals, such as foreign education or foreign travel, should go for US equity funds.'
'When interest rates rise, the NAVs of these funds will fall.' However, they won't fall as much as longer-duration funds.
The Fed's interpretation of the increase in gas prices is the economist's basic mantra of supply and demand.
As part of an ongoing series, we bring you stories of young Indian Americans who came looking for the Real India and found their real selves instead. Rucha Desai recounts his trip to India.
State Bank of India (SBI), India's largest lender, is looking to raise Rs 10,000 crore through 15-year infrastructure bonds as early as next week, said multiple sources aware of the development. Market participants expect a coupon in the range of 7.15-7.18 per cent for SBI's upcoming infrastructure bond issuance. This comes as demand for longer-tenor papers has remained strong in recent domestic capital market offerings.
The list of 22 leaders was compiled in association with Harvard Kennedy School. It also includes Federal Reserve Board Chirman Ben Bernanke, Newark city Mayor Cory Booker, Cisco Systems CEO and Chairman John Chambers and playwright-activist Eve Ensler.
Noting that these three Cs haunt Indian education today, the Congress Parliamentary Party chairperson said in an article that this "carnage" of India's public education system must end.
The US Federal Reserve has raised its benchmark interest rate by 0.25 per cent, only the second increase in a decade.
Mint Road, on December 21, 2023, flagged the role of self-regulatory organisations (SROs) in strengthening the compliance culture in regulated entities (REs) and providing a consultative platform for policymaking. It also decided to issue an omnibus framework for SROs.
Putin is keen on establishing a good personal rapport with Trump and anchor a meaningful US-Russia partnership, realistic enough to accept that Trump is as good an American president as Russia would ever get, observes Ambassador M K Bhadrakumar.
Koneru Humpy's non-participation in the event has not hampered the team's chances much as Vaishali has jumped significantly in rankings and is a force to reckon with in the women's circle.
The Sensex finished above the psychologically key 60,000-mark while the Nifty surged past the 18,000-level on Monday on across-the-board buying amid a mixed trend overseas. A depreciating rupee and concerns over the US Federal Reserve hiking rates later this week failed to quell investors' appetite for stocks, traders said. The 30-share BSE Sensex rallied 786.74 points or 1.31 per cent to settle at 60,746.59.
The net credit card additions in the banking sector nearly halved to 2 million in the first quarter of the current financial year (Q1FY25) from the previous quarter due to seasonal and regulatory factors. According to the Reserve Bank of India (RBI) data, the net credit card additions during the April-June quarter of FY25 stood at 2 million, 48 per cent lower than 3.9 million in the December-March quarter of FY24.
Several Aam Aadmi Party leaders, including Manish Sisodia and Sanjay Singh, hit out at the BJP government at the Centre, saying agencies are targeting those who raised their voice against the ruling party.
Those who want to invest should consider their risk appetite. Youngsters may go for it as they have a longer horizon to recover from a setback.
Opposition members in Rajya Sabha on Thursday accused the government of imposing Hindi by bringing new bills with titles only in that language, a charge the treasury bench contested while alleging they were stuck with a colonial mindset.
'We expect the bull-market phase to still persist, but now led by large-caps which offer better valuation and benefit from FII inflows.'
'We expect continued pressure on midcaps, but any sharp correction looks unlikely from here on.'
President Donald Trump has tapped Jerome "Jay" Powell to lead the US central bank, bypassing Janet Yellen for a second term despite praising her excellent management of the world's largest economy over the past four years.
Tactical investors should have an investment horizon of around six months to one year, long-term investors should stick around for 10 years or more.
'Currently, 81 per cent of all reserved tickets are booked through e-ticketing.'
For five consecutive policy reviews in 2023, the Reserve Bank of India (RBI) chose to hold rates, citing inflation threat. And when the prices did cool off a bit, it reminded all about the target to get the headline consumer price inflation at 4 per cent and the risks from food inflation. Heading into the new year, all eyes are on when RBI will cut the rates, especially after one of the Monetary Policy Committee (MPC) members stressed on the need for such an action in the face of the US Federal Reserve's guidance for easing rates.
Economists warn of the impact that a Fed rate rise could have on emerging economies.
Equity indices faced a heavy drubbing on Thursday after an initial rally, with Sensex tanking 1,045.60 points amid a largely bearish trend overseas after the US Federal Reserve hiked rates by 75 basis points.
The Indian equity market valuation has been moving in tandem with the US 10-year treasury yield. While the benchmark US bond yield has witnessed a nearly 70 basis point decline since the end of October this year, dropping from 4.93 per cent to 4.23 per cent on Friday, the Sensex earnings yield has slipped by nearly 45 basis points - from 4.5 per cent to 4.05 per cent. Previously, Indian equities' earnings yields rose in sync with the US bond yields.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
With concern on food inflation ebbing with the monsoon progressing well, the Reserve Bank of India (RBI) is warming up to the idea of a change in stance to "neutral" from "withdrawal of accommodation", according to economists. In his speech on Thursday during the annual event of the Federation of Indian Chambers of Commerce and Industry-Indian Banks' Association, RBI Governor Shaktikanta Das said: "The balance between inflation and growth is well-poised."
Did Jeff Bezos decide against endorsing Harris because it would hurt his business interests? Only God and Bezos know, and neither of them are talking, notes Prem Panicker.
Equity benchmarks fell sharply on Thursday in line with an extremely weak trend in the global markets, with the Sensex plunging 1,154.78 points in early trade. Persistent foreign fund outflows and a spurt in crude oil prices also dampened sentiment. The 30-share BSE benchmark was trading 1,154.78 points lower at 53,053.75. The broader NSE Nifty tumbled 335.65 points to 15,904.65.
Investors globally pulled out more than $3 billion from equity funds focused on Emerging markets including India in a week amid concerns over the US Federal Reserve's plan of curtailing its stimulus drive starting later this year.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
The Fed made clear that the rate hike was a tentative beginning to a "gradual" tightening cycle
The Financial Stability and Development Council members include heads of regulatory bodies like RBI, Sebi and Insurance Regulatory Development Authority.
Index heavyweight RIL surged 3% to end above Rs 1,000 mark while IT majors were also the top gainers.
Amid volatility in stock markets generated by tension between Russia and the US over Ukraine, LIC chairman M R Kumar on Monday said that the insurance behemoth was watching the geo-political situation carefully, though it was keen on listing of the IPO in March. The Life Insurance Corporation (LIC) has already filed the DRHP with the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). "We are watching the situation closely and carefully...but we are very keen on having listing in March," Kumar said, when asked about the impact of the evolving geopolitical situation on the upcoming IPO.
