The Lok Sabha elections in 2024 are not a consideration when it comes to monetary policymaking, said Reserve Bank of India governor Shaktikanta Das to underscore the central bank's commitment to controlling inflation. "It's not possible for me to comment what we do in the next MPC (Monetary Policy Committee), but one thing I can tell and I would like to make it very clear-that the fact of elections coming up in 2024 is not a factor at all so far as monetary policymaking is concerned. "Monetary policymaking is for checking (and) controlling inflation," Das said at the Business Standard, BFSI Insight Summit.
United States President Joe Biden on Wednesday said that based on what he saw, it appears that the deadly explosion at the Gaza hospital was done by 'the other team' and not the Israeli military, accepting the Israeli version of the story pinning the blame for the blast on the Palestinian militant group Islamic Jihad.
As per the Israeli Air Force, the fighter jets attacked a number of terrorist targets of the terrorist organization Hamas throughout the Gaza Strip. Among other things, the planes attacked a military compound and a weapons warehouse.
'Isn't it obvious? Do you have a doubt? There is so much data that shows that there is quid pro quo.' 'There are many instances of donations being given after the raids, donations being given before the award of a contract and many other permutations and combinations.'
'If rate cuts happen, bond yields will come down and investors will make mark-to-market capital gains on them.'
The pandemic has led to the International Finance Corporation massively ramping up its impact investment in the country - its largest client nation globally - at $1.7 billion as of June, a 51 per cent rise over the past 12 months, the largest developmental lender into third world private sector said on Tuesday. This is nearly half of its investment in the whole of South Asia since the pandemic, which touched $3.8 billion as of June 2021, it said. "Our total commitment to India, which is our largest client country globally, at the end of June stood at $1.7 billion representing an increase of over 51 per cent from last year," IFC vice-president for Asia and the Pacific region Alfonso Garcia Mora said in a statement.
Companies don't have to be in the field to nudge people to return money they owe lenders.
Extending its support to Saarc Bank, Sri Lanka on Thursday said the proposed financial institution will help in alleviating poverty in the South Asian region.
The men with guns tend to know little finance, and establishing such a conspiracy then involves leakage of information, which is also dangerous, Ajay Shah points out.
The migration of domestically developed intellectual property to foreign corporations within India reflects an anomaly in the demand pattern of the country's job market, points out Kanika Datta.
Despite the demonetisation of 2016 and the rise in digital transactions that followed, the economy's dependence on cash has remained as high as ever. So when the Reserve Bank of India (RBI) introduced a pilot project of its version of digital cash - called the central bank digital currency (CBDC) - on December 1, many questions were asked. Can the CBDC replace physical cash, even partially? Can it match cash in terms of convenience? Are CBDC transactions truly anonymous?
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
Embattled billionaire Gautam Adani on Thursday spoke publicly for the first time since his ports-to-energy conglomerate publicly battled a short seller's accusation of stock manipulation and accounting fraud, saying the abrupt move to withdraw a fully-subscribed share sale at his flagship firm was due to market volatility. His group continued to lose on the stock market, with the cumulative rout now nearing $108 billion in a week -- one of the biggest wipeouts in India's history. "After a fully subscribed follow-on public offering (of Adani Enterprises Ltd), yesterday's decision of its withdrawal would have surprised many.
'While foreign institutional investor flows are still negative, they will turn positive in the latter part of 2023 as India's resilient growth becomes perceptible.'
Sources say given the complexity involved in the process of creating a holding company, which will ultimately be the parent company of banking and other businesses, banks are going slow in acquiring stakes in insurance arms or mutual funds of other lenders.
Climate and sustainable development financing, multilateral institution reforms, regulation of digital assets, the spillover effect on developing economies from actions of western central banks, energy and food security in the backdrop of war in Europe, and sanctions on Russia and their impact on the global economy are some of the agenda items that India will take up as President of G-20, Finance Minister Nirmala Sitharaman said on Tuesday. India will take over as President of the powerful international grouping on December 1 for a year. There will be around 200 meetings throughout the country, with the summit Heads of State meeting expected to be held in New Delhi next September.
What do we need more of: Leaders who dominate global institutions or local leaders with a 'Make-in- India' mindset?
The BJP enters challenging times where it has been given a task to hold onto the values of Ram in running the country as defined by Narendra Modi in Ayodhya, notes Sheela Bhatt.
"If the French team passes beyond the quarter-finals I will come and support," Macron said during a joint news conference with Russian President Vladimir Putin.
At least nine separatist organisations supporting terror groups have their bases in Canada and despite multiple deportation requests Ottawa has taken no action against those involved in heinous crimes, including the killing of popular Punjabi singer Sidhu Moosewala, officials in New Delhi said on Tuesday.
'The market will focus on the fact that India does have strong earnings growth this year.'
Five Indian-origin women executives have made it to Barron's prestigious annual '100 Most Influential Women in US Finance' list for achieving positions of prominence in the financial services industry and helping shape its future. Barron's is a sister publication of the Wall Street Journal, published by Dow Jones and Company. "The list honours established and emerging leaders in financial services, the corporate world, nonprofit organisations, and government," the magazine said in a press release.
RBI Governor Shaktikanta Das on Friday called upon G20 nations to resolutely address the challenges, like threats to financial stability and debt distress that confront the global economy. Addressing the inaugural session of the meeting of G20 finance ministers and central bank governors, Das said although the outlook for the global economy has improved in recent months and there is now greater optimism that the world may avoid a deep recession and only experience slow growth or softer recession,"yet uncertainties lie ahead of us." "Together we must resolutely address the challenges that confront us, including those that are of medium to long-term nature such as threat to financial stability, debt distress, climate finance, fractures in global trade and strains on global value chains.
For people at the bottom of the pyramid, which I would rather address as mass market or emerging class; the primary challenge in accessing banking services are not just affordability but applicability and accessibility of services.
Israel's ministry of defence and the Israel defence forces on Sunday said they are planning to evacuate another 14 communities close to the Lebanese border, The Times of Israel reported.
George Soros, who is in the eye of the storm over his remarks against Prime Minister Narendra Modi on the Adani issue, is an Hungarian-born American financier, philanthropist, and activist whose success as an investor made him one of the wealthiest men in the world. He is also known as a powerful and influential supporter of liberal social causes. In a speech at the Munich Security Conference on Thursday, the billionaire philanthropist said he believes the turmoil at Gautam Adani's business empire may weaken Prime Minister Narendra Modi's hold on the government, a statement which was strongly contested by the BJP as an attack on Indian democracy.
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
'Today, three areas give banks a big headache -- steel, power, infrastructure.' 'Three Cs are very critical in lending -- character, capacity and collateral of the borrower.'
Corporate ministry documents show that the Siva's firm kept taking loans from public sector banks like State Bank of India, Punjab National Bank which gradually turned to bad loans.
'Modigate is snowballing into a huge thing with the electorate. The BJP is in for huge punishment by the electorate.'
A cricket match involving India and Pakistan is not just about top-quality cricket, but it is also about roaring fans giving the stadium the atmosphere of a Roman colosseum.
Finance minister Nirmala Sitharaman on Wednesday exuded confidence that inflation would further decline and the government is on track to meet its budgetary target for deficit and said that there is no fear of stagflation in India. Replying to the debate on first batch of Supplementary Demands for Grants 2022-23 in Lok Sabha, the finance minister said inflation has come down and it is now in the tolerable band of the RBI. Inflation has been declining since April 2022 and it is declining further, she said.
'The purported claim that Israel can defeat Hamas and everything 'would go back to normal' is completely absurd.'
Renowned women's rights activist and founder of the Self Employed Women's Association (SEWA) Ela Bhatt passed away in Ahmedabad on Wednesday due to age-related ailments, her associates said.
The Reserve Bank on Wednesday allowed inbound travellers from G20 nations arriving at select airports to use the popular UPI for making payments in the country. Later, the RBI also proposes to extend the Unified Payments Interface (UPI) facility to travellers from all countries. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood.
Mr Adani has a fight on his hands. It is not a fight to the death, asserts T N Ninan.
The members resolved to foster a global economic governance architecture that is more effective and reflective of current global economic landscape
'Even where we are now today, the growth rates are very good, but we need to get to 8-9 per cent growth in the years to come.'
China's e-commerce giant Alibaba, which completed the world's largest initial public offering ever this month, has won approval from authorities in Beijing to establish a private bank as it diversify into financial services.
Congress general secretary (communications) Jairam Ramesh said they will pose three questions a day to Prime Minister Narendra Modi over the issue.
