The World Bank has appointed Indermit Gill, an Indian national, chief economist and senior vice-president for development economics at the multilateral development bank. "Indermit Gill brings to this role a combination of leadership, invaluable expertise and practical experience working with country governments on macroeconomic imbalances, growth, poverty, institutions, conflict, and climate change," World Bank President David Malpass said in a statement. His appointment will be effective September 1, 2022.
The duo converted musical notes into bank notes with a steady spate of 1990s musicals such as Aashiqui, Saajan, Dil Hain Ke Manta Nahin, Raja Hindustani and Pardes.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
About 85 per cent of the digital payment transactions take place through UPI in India, and the country can be a case study in inclusive, secure, and scalable Digital Public Platforms (DPPs), Reserve Bank Governor Sanjay Malhotra has said. He was speaking at a "High-Level Dialogue on Forging Economic Resilience through Digital Public Platforms" organised by RBI on the sidelines of the Annual Meetings of the World Bank and International Monetary Fund in Washington, DC on Tuesday.
Country's largest lender State Bank of India (SBI) is looking to be among 10 top global banks in market capitalisation terms in the next five years, chairman CS Setty said on Wednesday. "The scope for value creation for the stakeholders is potentially very high. So the larger ambition is if the market supports whether we can be part of the top 10 global banks in terms of the market capitalisation (five years)," he said after listing of shares issued under Qualified Institutional Placement (QIP) at NSE.
'India is quickly becoming the beating heart of modern chess, and its role as an economic power is more and more visible.'
'Her outstanding performance in the World Cup has definitely added to her brand value significantly. The high WPL bids validate it more.'
Which are some of most special places in the world to celebrate Christmas?
'Mob fury has become very common these days. And these attacks are all planned very well.' 'In all these attacks, you see that they have a very clear cut plan to make the victims as the oppressors and the guilty.' 'The attackers escape and they face no consequences as they have the backing of some political leaders.'
The beautiful twinkling Christmas markets that come up across the world, as December begins, allow you to step into the magic Christmas.
Officials from both India and the US in the recent past have indicated that a "fair deal" will be concluded soon, with Indian officials holding that more formal rounds of talks are not needed.
Minakshi Hooda continued her sparkling run to become the third Indian woman boxer to storm into the final of the World Championships.
Glimpses from around the world that will make you smile and cry.
FDI inflows into India are expected to register robust growth in 2026, supported by strong macroeconomic fundamentals, big-ticket investment announcements, sustained efforts to improve the ease of doing business, and a new generation of investment-linked trade pacts.
The milestone crowns a record year for the domestic primary market where IPO mobilisation is set to cross Rs 1.7 trillion.
'I had a feeling from within that this tournament (Asia Cup) would be something special, but I did not think that I would become the player-of-the-tournament.'
Canadian firm Manulife and Mahindra & Mahindra (M&M), an Indian automaker with interests in financial services, have signed an agreement to form a 50:50 life insurance joint venture (JV) with a total capital commitment of up to Rs 3,600 crore each totalling Rs 7,200 crore.
'If I were a housewife, it would have been Ok. But I was set in my job and then suddenly I quit.'
From Rs 73k to over Rs 1.2L between January-December 2025 -- is buying gold in 2026 still sensible?
Former poll strategist Prashant Kishor's Jan Suraaj expressed disappointment over its poll debacle in the Bihar assembly elections, attributing the NDA's victory to cash transfers to women.
'The stamina and junoon you see in him, for acting, singing, dancing, working out, just about everything, makes age just a number as far as Salman Khan is concerned.'
World Bank has sounded the warning bells for Indian banks and financial institutions on their high non-performing assets and the risks of suffering losses if interest rate starts rising.
The Reserve Bank of India (RBI) does not target any price level on the rupee, Governor Sanjay Malhotra reiterated at an International Monetary Fund and World Bank event on Wednesday.
South Africa will be eager to turn consistent recent form into a title-winning run when they open their women's ODI World Cup campaign against traditional powerhouses England in Guwahati on Friday.
The World Bank has approved loans totalling $1.75 billion (about Rs 13,834.54 crore) to fund India's PM Ayushman Bharat scheme and private investment to boost the economic growth. Of the total loan, $1 billion will go towards the health sector, while the rest $750 million will be in the form of development policy loan (DPL) to fill the financing gaps through private sector investment in the economy. The World Bank Board of Executive Directors approved two complementary loans of $500 million each to support and enhance India's health sector.
The World Bank has blacklisted Videocon Industries on allegations of fraud and corruption for three years.
The World Bank on Tuesday revised upwards its GDP growth forecast for India to 6.9 per cent for 2022-23, from 6.5 per cent earlier.
The World Bank has announced that it will stop all its programmes in Russia and Belarus with "immediate effect" in response to Moscow's military operations in Ukraine and "hostilities" against the people of the war-torn country. On February 24, Russian forces launched military operations in Ukraine, three days after Moscow recognised Ukraine's breakaway regions - Donetsk and Luhansk - as independent entities. The decision comes as a large number of countries, organisations and businesses are severing ties and have imposed sanctions on Russia over the country's invasion of Ukraine, and with Belarus for its support and cooperation with Moscow.
US nominee for World Bank president, Ajay Banga, has tested positive for COVID-19 following which the meetings scheduled during his two-day visit to India have been cancelled. According to a Finance Ministry statement, Banga's meeting with Nirmala Sitharaman would not happen as he is in quarantine. "During routine testing, Ajay Banga tested positive for COVID-19 but remains asymptomatic.
India's equity markets may have expanded rapidly, but initial public offerings (IPOs) are increasingly becoming exit vehicles for early investors rather than as engines for raising long-term capital, a shift that undermines the spirit of public markets, Chief Economic Advisor V Anantha Nageswaran warned on Monday at a CII event.
India is set to become the world's fourth-largest economy in 2025, but slow income growth, lack of structural change, and rising inequality highlight the gap between progress and real transformation.
'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession.
'In the long run, India's strong growth story and reforms to make assets globally attractive will determine the rupee's resilience.'
World Bank on Friday offered to help India to improve its public procurement system and said even a marginal improvement in efficiency can yield huge savings.
"It is important that development agencies be able to continue their work unhindered by fear or violence, the bank said.
Kolkata Knight Riders splashed the cash as they spent a record breaking Rs 25.20 to buy Australian all-rounder Cameron Green.
The Union home ministry has cancelled the Foreign Contribution Regulation Act (FCRA) registration of the Centre for Policy Research (CPR) for alleged violation of laws, a move the public think-tank termed "incomprehensible and disproportionate" and vowed to seek legal recourse against.
CPGRAMS -- an online platform available to citizens 24x7 to lodge their grievances to public authorities on service delivery -- has existed for close to two decades. But it has never been this active, points out Tamal Bandyopadhyay.
Jamiat Ulama-i-Hind chief Maulana Arshad Madani's remarks alleging discrimination against Muslims, citing the Al Falah University case, have sparked a row with the BJP, who accused him of supporting terrorists.
India's computer services exports have risen 30 per cent since the advent of ChatGPT in November 2022, even as overall services exports have plateaued, World Bank's South Asia Chief Economist Franziska Ohnsorge said, terming Artificial Intelligence (AI) and the conclusion of more trade agreements that can trigger a "manufacturing renaissance", as the two big investment opportunities for India in coming years.
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