Rajan said India's good economic fundamentals would allow it to overcome any 'sharp corrections' in global markets
Amid strong opposition from CIL workers union to the proposed stake sale in the company, Finance Minister P Chidambaram has said the disinvestment proceeds of about Rs 20,000 crore (Rs 200 billion) from the coal behemoth will be invested in public sector banks.
Is this 'Yashpal Kapoor' the late Congress leader, one of Indira Gandhi's closest aides in the 1970s?
The Bharatiya Janata Party regime will have to make good on this election slogan to restore state-owned banks to health, says Rajiv Lall.
Collectively, the pack of 12 has posted a 50 per cent rise in profits -- Rs 25,685 crore. On a quarter-on-quarter basis (that is, September over June), the rise is 68 per cent. Public sector banks have never had such a stellar performance, explains Tamal Bandyopadhyay.
The rising dependence on discounted crude oil has resulted in India's trade deficit with Russia hitting the second-highest place last year, after China, reveals Department of Commerce data. From April through January 2022-23 (FY23), India's maximum trade deficit was with China, at $71.58 billion. This was followed by Russia, where the deficit expanded sevenfold - from $4.86 billion in April-January of 2021-22 (FY22) to $34.79 billion during the same period in FY23.
The government on Tuesday announced setting up of hubs to promote exports through e-commerce medium in public-private-partnership (PPP) mode and initially 10-15 hubs will be established. Finance Minister Nirmala Sitharaman said that these hubs, under a seamless regulatory and logistic framework, will facilitate trade and export-related services under one roof. "To enable MSMEs (micro, small and medium enterprises) and traditional artisans to sell their products in international markets, e-commerce export hubs will be set up in PPP mode," she said.
Voices from the Treasury are clamouring for lowering rates as this would boost demand.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
Borrowing from BRICS bank will help India avoid other kinds of politics emanating from the West. Overall, the BRICS institutions will necessarily adopt alternative ways of doing things based on their own cultural and socio economic needs, says M K Venu.
Airports across the country witnessed chaotic scenes on Friday after dozens of flights were either delayed or cancelled after a widespread global computer outage that also hit operations like cash withdrawal at some banks, and impacted functioning of some brokerages. Globally, the Microsoft cloud outage led to US airlines cancelling flights, but the tech giant later reportedly said its cloud services outage in the Central US region has been resolved.
All transfers and promotions for next financial year will be decided by respective banks, not by the merged entity.
India has launched Operation Ajay to facilitate the return of those who wish to come back home as a series of brazen attacks on Israeli towns by Hamas militants over the weekend triggered fresh tension in the region.
A host of conspiracy theories followed, involving Indira Gandhi, her younger son Sanjay, his favourite small car project, secret funding of the Bangladesh Mukti Bahini and even the Central Intelligence Agency of the United States.
Issuance of new bank licences proves that the apex bank wants the financial sector to flourish.
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
Electing Union Bank of India chairman V Leeladhar as the new chief, the Indian Banks Association on Thursday said it has constituted a committee to draw up a long-term perspective 'Vision Plan' for the banking industry.
The party was floated exactly two years after Kishor had embarked on a more than 3,000-km-long 'padayatra' of the state.
According to a SBSU (Kerala circle) release, union leaders from south Indian states would participate in the meet which would focus on wage reivison due in the banking sector as well as various contemporary issues relating to banking sector.
Upholding principles was a luxury when there were charismatic leaders capable of winning elections without stooping low to indulge in identity politics, observes Virendra Kapoor.
Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
The Enforcement Directorate, which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday , is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act.
The party's research department team, which Rajya Sabha member M V Rajeev Gowda heads, has sifted through the suggestions received in the last five months, and the manifesto is slated to be released later this month, reports Archis Mohan.
China's intended role for AIIB is not so different from the existing Western lenders like the World Bank.
'The PSBs ended up recording Rs 7,709 crore losses in the March quarter compared to the Rs 11,688 crore profits of their private peers,' reveals Tamal Bandyopadhyay.
Experts attribute the lower target to increased allocation under the credit guarantee scheme for small businesses. Out of the Rs 3.21 trillion worth loans sanctioned under the Pradhan Mantri Mudra Yojana (PMMY) in the last financial year, Rs 3.12 trillion were disbursed to entrepreneurs, according to official data.
Keeping up his tradition of celebrating the festival with soldiers, Prime Minister Narendra Modi visited Sir Creek near the Indo-Pak border in Gujarat's Kutch district and offered sweets to jawans.
The Tamil Nadu government is set to unveil a housing initiative for 18,720 women employed by Taiwanese tech giant Foxconn, a key supplier to iPhone-maker Apple, this Saturday. The project, located at Vallam Vadagal near Chennai, marks the first time an Indian state government has constructed a hostel of this scale for a private firm - a model that's been successful in China and Vietnam.
Global payment services major, Western Union, has tied-up with State Bank of India to enable international direct cash-to-account transfers.
'The Indian private sector knows how to build and run educational organisations, what is needed is a large dose of removal of restrictions.' 'Government restrictions hold back universities in India from launching medical schools,' argue Ajay Shah and Vijay Kelkar.
The 30-share Sensex ended higher by 46 points at 26,360 and the 50-share Nifty gained 16 points at 7,891.
The Indian National Developmental Inclusive Alliance (INDIA) parties, led by the Congress, staged a walkout from both Houses of Parliament on Wednesday, in protest against all states except two being 'ignored' in the budget, an allegation termed 'outrageous' by Finance Minister Nirmala Sitharamanm, who said all the states never found a mention in any of the previous budgets, including those presented by the Congress.
'We want to ensure that no government in J&K will be formed without our support.'
As per norms, sanction for prosecution of government employees accused of corruption has to be given within four months' stipulated time.
The number of public holidays varies from 14 in Delhi to 34 in Odisha.
"For decades in our country, the meaning of the Budget was restricted to what announcements were made in whose name. The Budget was turned into an account of the vote bank," Modi said.
The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
The Centre on Monday extended the ban on terrorist group Students Islamic Movement of India (SIMI) for five years for its involvement in fomenting terrorism and disturbing peace and communal harmony in the country.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances