IndusInd Bank on Tuesday fire fought the fallout of a Rs 2,100 crore discrepancy in accounting, saying it has enough reserves and capital to cover for it, but the management's assurance failed to arrest the free fall of shares which tanked over 27 per cent on the bourses. IndusInd Bank CEO and managing director Sumant Kathpalia said that the accounting lapse was noted around September-October last year and the bank gave a preliminary update to the RBI about this last week.
IndusInd Bank on Tuesday fire-fought the fallout of a Rs 2,100 crore discrepancy in accounting, saying it has enough reserves and capital to cover for it, but the management's assurance failed to arrest the free fall of shares which tanked over 27 per cent on the bourses.
Trump may temper his approach from time to time, but to think that he will change his basic philosophy is delusional, asserts T T Ram Mohan.
Indo-Canadian Anita Anand and Delhi-born Kamal Khera are part of new Canadian Prime Minister Mark Carney's cabinet. Anand is the Minister of Innovation, Science and Industry while Khera is Minister of Health. Carney's cabinet with 13 men and 11 women is smaller than Trudeau's 37-member team.
Prime Minister Narendra Modi took a jibe at Leader of Opposition Mallikarjun Kharge in Rajya Sabha on Wednesday, saying the poem that Kharge recited to criticize the BJP government was written during the reign of Congress. Modi also read out a poem written by renowned Hindi poet Gopaldas Neeraj to attack the Congress.
The deportation of Indians from the United States, deaths in the Maha Kumbh stampede and the joint Parliamentary committee report on the Waqf bill were among the issues that led to heated exchanges and some disruptions in an otherwise smooth first part of the Budget session that ended on Thursday.
Yellen, 74, was confirmed by the Senate in a broad bipartisan support of 84-15 votes on Monday. Both the Democratic and the Republican parties have 50 members in the 100-seat Senate.
If Beijing succeeds in this multipronged effort to challenge the current dominant power, it will have not just economic but political and security consequences. There is no let-up in the South China Sea nor any de-escalation moves on the India-China border. This portends to ominous signalling from Beijing, observes China expert Srikanth Kondapalli.
The reopening of the Ratna Bhandar became a major political issue during the recently held assembly elections in the state.
A BJP MP from Nagaland has alleged that Congress leader Rahul Gandhi came "very close" to her and "shouted" at her during a protest outside the Parliament, making her feel "uncomfortable." The incident has led to a war of words between the ruling BJP and the opposition Congress, with both sides accusing each other of misconduct. The BJP has demanded an apology from Rahul Gandhi, while the Congress has denied the allegations.
On Wednesday, protests erupted across the United States in response to President Donald Trump's recent actions.
The liquidity deficit in the banking system crossed Rs 2 trillion again on Monday, despite the second instalment of cash reserve ratio (CRR) reduction coming into effect from December 28.
The Lok Sabha, India's lower house of Parliament, will debate the contentious Waqf (Amendment) Bill on Wednesday. The bill has been met with strong opposition from several parties who claim it is unconstitutional. The government, however, insists the bill aims to improve the management of Waqf properties in India by bringing transparency and efficiency.
From the 30-share Sensex blue-chip pack, Tata Steel, Zomato, Larsen & Toubro, Tata Motors, Adani Ports, Tata Consultancy Services, HDFC Bank and NTPC were the major laggards. Nestle, Hindustan Unilever, Mahindra & Mahindra, Kotak Mahindra Bank, Asian Paints and Bharti Airtel were among the gainers.
Co-location attracts institutional investors, which drives volumes for long-dated options, with higher realisations at lower costs.
Foreign investors have pulled out Rs 22,420 crore from the Indian equity market so far this month, owing to high domestic stock valuations, increasing allocations to China, and the rising US dollar as well as Treasury yields. With this sell-off, Foreign Portfolio Investors (FPIs) have recorded a total outflow of Rs 15,827 crore in 2024 so far. As liquidity tightens, FPI inflows are expected to remain subdued in the short term.
'Expect FPIs to continue selling for several months until the rupee stabilises.'
Geithner had told President Barack Obama that he would leave his cabinet by this summer as his family has moved to New York.
Let us travel to Kerala with the Ishq Vishk girl.
After a brutal selloff since October, foreign portfolio investor (FPI) flows for the year-to-date (YTD) in 2024 have turned negative. In early September, YTD FPI investments peaked at a record Rs 22,000 crore ($2.6 billion). This wave of selling has also pulled down benchmark indices, with the Nifty's YTD returns declining to 11 per cent from their high of 21 per cent in September.
The former chief minister said the BJP government is getting excavation done at various places to hide its failure and to divert attention from the issues related to the public.
Apart from the emotional value attached to buying gold, the yellow metal offers protection against inflation, interest rate spikes, currency and geopolitical risks, says Anamika Pareek.
Samajwadi Party MLA Abu Asim Azmi, suspended from the Maharashtra assembly over his remarks praising Mughal emperor Aurangzeb, will be '100 per cent' put in jail, Chief Minister Minister Devendra Fadnavis said in the legislative council.
Foreign investors were net sellers of domestic debt in October for the first time since the official inclusion of Indian government bonds in the JP Morgan bond indices, with net outflow worth Rs 4,697 crore. This marked the second instance in the current calendar year where foreign portfolio investors (FPIs) were net sellers in a month.
The Real Effective Exchange Rate (REER) of the rupee moderated in December to 107.20 after hitting a peak of 108.14 in November, latest data released by the Reserve Bank of India (RBI) showed. The REER was 103.66 in January 2024. The rupee depreciated around 3 per cent against the dollar in 2024.
The week's losses wiped out investor wealth worth Rs 18.43 trillion, with the total market capitalisation of BSE-listed firms now at Rs 441 trillion.
Trump on February 1 had announced tariffs on major US trading partners Canada, Mexico and China. He imposed a 25 per cent tariff on Canadian and Mexican imports and a 10 per cent on goods from China.
Raising overseas debt has become prohibitively expensive due to the depreciating rupee.
China sits on a mountain of United States treasury debt, reinforcing its position as the world's number one holder of US treasury securities with a total of $895.2 billion. China's foreign exchange reserves too stood at a mammoth $2.45 trillion at the end of March 2010.
Samajwadi Party MLA Abu Asim Azmi was on Wednesday suspended from the Maharashtra legislative assembly till the ongoing budget session ends on March 26, over his remarks eulogizing Mughal emperor Aurangzeb.
BJP MP Nishikant Dubey has written to Lok Sabha Speaker Om Birla seeking initiation of breach of privilege proceedings against Congress leader Rahul Gandhi for making "blatant lies and vilification campaign" during his speech in the House. Dubey alleged that Gandhi used his parliamentary privilege to spread canards without authenticating his charges and distorted historical facts during his speech. Gandhi had claimed that mobile phones were not made in India but only assembled here, China has captured the Indian territory, and India had sent Foreign Minister S Jaishankar to the US to get an invite for Prime Minister Narendra Modi for US President Donald Trump's swearing-in ceremony. He also made allegations related to the electoral rolls for the Maharashtra Assembly polls and the law for the appointment of the elections commissioner. Dubey accused Gandhi of misusing the Constitution's Article 105, which accords privileges to parliamentarians for their comments made inside the Lok Sabha and the Rajya Sabha. He urged the Speaker to initiate proceedings against Gandhi, alleging that Parliament's records and proceedings are a testimony to his irresponsible attitude.
Amid slogan shouting by Congress members, the House witnessed three adjournments.
The court directed him neither to leave the country without permission nor change his address and mobile number during the bail period.
The World Bank's executive board unanimously selected 63-year-old Malpass, who is currently Under Secretary of Treasury for International Affairs, as the bank's 13th President for a five-year term beginning April 9.
Prime Minister Narendra Modi has lauded the Union Budget as a "people's budget" that fulfills the dreams of every Indian and said that it is a "force-multiplier" that will boost consumption, investment and growth. He highlighted a host of measures for different sectors, including welfare initiatives for gig workers, tax relief for the middle class, and support for the manufacturing sector.
Banks have issued Rs 7.78 trillion worth of CDs in the current calendar year until August 2024, compared to Rs 4.9 trillion in the same period of 2023, registering a 59 per cent growth
Dr Manmohan Singh first embossed himself on the national consciousness when as India's finance minister he flagged off economic reforms which changed this nation forever.
After depreciating 0.32 per cent against the dollar in October so far, the rupee is expected to hold ground against the greenback in the current quarter on the back of robust inflows. According to the median of a Business Standard poll of 10 respondents, the rupee is seen trading around 84 per dollar till the end of December. "In India's case, at least the bond and cash related inflows will continue.
The most striking features of this Budget was its focus on simplification and improving the ease of doing business in India, asserts Kaku Nakhate.
US President Donald Trump has imposed tariffs and a travel ban on Colombia after the South American nation refused to accept two American military planes deporting undocumented Colombians. The move comes after President Trump announced mass deportations of illegal immigrants and warned countries of consequences if they refuse to accept them. Colombian President Gustavo Petro, in a post on X, said that the US cannot treat Colombian migrants as criminals and denied the entry of American planes carrying Colombian migrants into Colombian territory. Trump responded by imposing a 25% tariff on all goods coming into the US, a travel ban and immediate visa revocations on Colombian government officials, and visa sanctions on all party members, family members and supporters of the Colombian government. The US also announced enhanced customs and border protection inspections of all Colombian nationals and cargo on national security grounds. In retaliation, Colombia announced a 25% import tariff on American products.
