In a critical comment on India, one of the fastest-growing economies in the world, the World Bank said that robust economic growth and food security alone would not remove the tag of being 'one of the most malnourished nations'.
Payment apps PhonePe and Paytm have helped citizens avert potential financial frauds worth Rs 200 crore by using the fraud risk indicator platform developed by the Department of Telecom, a senior Walmart group official said on Wednesday.
Cummins remains a doubtful for the Ashes opener at Perth starting on November 21 but Marsh is among the players who would be in fray for selection for the opening Test of the five-match series.
World Bank resumed financing the Mumbai Urban Transport Project on Thursday lifting the suspension imposed in March.
World Bank economists have urged the Indian government to cut unproductive farm subsidies and utilize agriculture spending the most productive manner.
'I wanted to go for the heart, and at the same time, open the audience's mind.'
The World Bank on Sunday said the coronavirus outbreak has severely disrupted the Indian economy, magnifying the pre-existing risks to its outlook. In its 'South Asia Economic Update: Impact of Covid-19', the World Bank estimated the Indian economy to decelerate to 5 per cent in 2020 and projected a sharp growth deceleration in fiscal 2021 to 2.8 per cent in a baseline scenario.
Remittances to India are likely to drop by 23 per cent from USD 83 billion last year to USD 64 billion this year due to the coronavirus pandemic, which has resulted in a global recession, the World Bank has said. Globally remittances are projected to decline sharply by about 20 per cent this year due to the economic crisis induced by the pandemic and shutdowns, according to a World Bank report on the impact of the Covid-19 on migration and remittances released on Wednesday.
'An asset must generate income. Equities yield dividends, bonds pay coupons, deposits give interest, and real estate earns rent.' 'Gold, silver, and even Bitcoin produce no income, they merely store value. So, they should not be compared to productive assets.'
The Bank suggested reforms in infrastructure sector.
Rejecting World Bank's warning of growth and fiscal slippages, the government said on Monday that the banks prediction that India needs major reforms thrust to achieve eight per cent growth was indeed unfortunate.
Here's what Indian investors diversifying into equities, ETFs, and real estate abroad to manage risk, returns, and currency exposure must watch out for.
Pakistan has urged India to fully adhere to the Indus Water Treaty (IWT), expressing concerns about the level of detail in flood information shared through diplomatic channels.
The stock of mid-tier information technology (IT) major Persistent Systems has been one of the outperformers in the IT pack with a return of 5.3 per cent over the last year, while its peer index, the Nifty IT, is down 16.2 per cent over the same period. The strong September quarter (Q2FY26) result and upgrades by brokerages are positive but its ability to sustain growth momentum in a weak macroeconomic environment will be key for future gains. At the current levels, the stock is trading at a premium valuation of 38 times its FY27 earnings estimates.
'We expect growth to increase in 2017, after this brief period associated with the change in notes.'
The series promises a fascinating duel between the two modern-day pace greats.
India's GDP growth is likely to slow down over the next couple of years as a result of restrictive policies -- manifested as higher interest rates and fiscal tightening -- aimed at curbing inflation, a World Bank report has said.
India's largest IT services firm Tata Consultancy Services (TCS) on Thursday reported a 1.39 per cent increase in consolidated net profit to Rs 12,075 crore in the July-September quarter of this financial year.
Terming India's fiscal decentralisation as 'flawed', the World Bank has mooted six broad strategies, including strengthening the state finance commissions, broadening tax base and greater devolution of power to Panchayati Raj institutions.
Financially burdened Prasar Bharati on Thursday sought government facilitation to help it receive assistance from the World Bank in its modernisation efforts.
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Diplomatic channels activated to keep India eligible for soft loans from World Bank affiliate, though rules show it's probably time we made way for the needier others.
Lauding India for its decade-old economic reforms, World Bank vice president Nicholas H Stern said on Tuesday that the country has shown the developing world the right kind of economic policies to be adopted.
The government should reduce entry and exit barriers for the manufacturing sector and remove infrastructure bottlenecks for improving investment climate, the World Bank has said.
Amid the controversy over 'ownership issue', Reliance Industries vice-chairman Anil Ambani on Wednesday skipped a World Bank conference on 'Improving India's Investment Climate'.
Amid US-China trade tensions and economic vulnerabilities, India must seize the 'China +1' opportunity, deepen reforms, secure FTAs, and globalise its firms for long-term growth, suggests Ajay Shah.
India was the World Bank's favourite last financial year when it came to extending financial aid in the form of loans, both among developing countries and the world's poorest nations.
World Bank and its private lending arm International Finance Corporation are planning to float rupee-denominated bonds worth $100 million each when market conditions are 'favourable.'
The World Bank has suggested that cess on petrol and diesel be doubled to Rs 3 per litre to partly generate Rs 100,000 crore (Rs 1,000 billion) needed by 2011 for constructing roads and highways in the country.
President Droupadi Murmu addressed Indian Police Service probationers, highlighting the growing threat of 'digital arrest' scams and emphasizing the importance of ethical policing and public service.
In a time of tight credit, the facility will support grants to bank and non-bank institutions for activities to increase access to financial services, such as savings, credit, payments and insurance, in rural areas in developing countries as profitable business lines, the World Bank said.
Warning that India's farm subsidy had mounted to 5.6 per cent of agriculture GDP, the World Bank on Wednesday said the country should instead be investing more in rural education, social and infrastructure development.
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
Former US Trade Representative and US Deputy Secretary of State, Robert B Zoellick (53), is said to be the frontrunner for the post of the next World Bank president, according to a report in the Financial Times.
Dr Kali P Choudhury, a visionary entrepreneur immigrated to the United States with almost nothing and built his estate in Hemet before turning his focus to Inglewood.
World Bank is likely to double loan sanctions to India to about $3 billion annually for the next four years, as part of its Country Assistance Strategy to be announced in New Delhi on Friday.
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