If TVK MLAs and ministers are perceived as clean, or demonstrably cleaner than their predecessors, the credibility dividend will be enormous. The voter will feel rewarded, points out Ramesh Menon.
S&P Global Ratings warns that a sustained rise in crude oil prices to $130 per barrel could significantly slow India's economic growth, weaken fiscal metrics, and strain corporate and banking sector performance, potentially reducing growth by up to 80 basis points.
The United States Trade Representative (USTR) has expressed concerns that India's Digital Personal Data Protection (DPDP) Act, particularly the lack of a deemed consent mechanism for credit information companies, and the Information Technology (IT) Rules of 2021, along with frequent internet shutdowns, could negatively impact the ability of US companies to operate and trade in India.
Punjab Police have successfully traced and returned over 12,000 lost mobile phones to their owners in the past year, utilising technical and data analysis. The recoveries, estimated to be worth between Rs 15 to Rs 20 crore, were made possible through initiatives like the Central Equipment Identity Register (CEIR).
The company said Valcambi was the engine driving the group's business, but Valcambi's audited accounts showed revenues that were only a fraction of what the group reported. That raised a major red flag.
Delhi Police have arrested three individuals from Gujarat, Rajasthan, and Madhya Pradesh for allegedly providing mule bank accounts used to route over Rs 1.22 crore in proceeds from various cyber fraud schemes.
Central Bank of India classified its loans to Go First as non-performing assets (NPAs) in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24). The no-frills carrier has been under insolvency proceedings since May 2023 and ceased operating flights on May 3 this year. The public sector lender's exposure, including government-guaranteed emergency credit to the ailing airline, amounts to about Rs 2,000 crore.
Compared with a year ago, the effective cost of studying abroad for Indian students has increased by roughly 10%-12% due to currency depreciation and rising living costs.
The Reserve Bank of India (RBI) has projected that crude oil prices will average USD 85 per barrel and the rupee will weaken to 94 against the dollar by FY27, according to its bi-annual Monetary Policy report.
Two more leading public sector lenders, Central Bank of India and IDBI Bank, on Friday joined the rate hike spree following the Reserve Bank's recent hike in interest rates by announcing a hike of 75 basis point in their base rates.
The proposed solution is a one-hour delay for digital transactions exceeding Rs 10,000, particularly when the transfer is made to a new or unverified beneficiary. The idea is simple -- give users a window to reconsider, detect fraud or alert their bank before the funds are irretrievably transferred.
The Indian rupee depreciated 20 paise to close at a fresh all-time low of 94.88 against the US dollar, driven by surging Brent crude oil prices, hovering around USD 115 per barrel, and persistent foreign capital outflows.
Gold prices experienced a significant decline in futures trading due to uncertainty surrounding geopolitical tensions in West Asia and conflicting statements regarding the conflict. Investors are also awaiting key macroeconomic data for further direction on interest rate cuts.
The country's banking system, while remaining "resilient" with bad loans at over a decade low and strong capital buffers, will continue to face intense competition from non-bank sources for resource mobilisation, said the Reserve Bank of India's (RBI's) Trend and Progress of Banking in India 2024-25 report.
The Reserve Bank of India (RBI) is exploring ways for Russian trade counterparts to use accumulated Indian rupees (INR) for imports or capital investments in India, aiming to boost INR-Rouble transactions and reduce reliance on the US dollar.
The Enforcement Directorate (ED) has arrested three founders of online gaming platform, Gameskraft, in an alleged fraud-linked money laundering case. Deepak Singh, Prithvi Raj Singh and Vikas Taneja have been taken into custody under the Prevention of Money Laundering Act (PMLA).
The Supreme Court has ordered a 'fair, dispassionate, transparent, and time-bound' investigation by the CBI and ED into the Anil Dhirubhai Ambani Group, addressing concerns over alleged large-scale banking fraud and demanding accountability.
The Enforcement Directorate (ED) has arrested three founders of online gaming platform Gameskraft in connection with a money laundering case linked to alleged fraud.
Union Education Minister Dharmendra Pradhan has directed officials to address issues faced by students regarding the CBSE examination system, following allegations of irregularities. The government has committed to transparency and accountability, assuring that all genuine concerns will be addressed effectively.
Only bona fide victims would be compensated by banks within five days of receiving the complaint.
The Enforcement Directorate (ED) has filed a prosecution complaint against Anil Nutrients Ltd, its director, and six others in connection with a money laundering case involving an alleged fraud of Rs 47.88 crore with Bank of India.
koda Auto Volkswagen India aims to capture a 5 per cent share of India's passenger vehicle market by 2030, driven by new product launches, including alternate fuel vehicles, and a potential entry into the high-volume sub-4 metre SUV segment.
Indian stock markets experienced a significant rally following the announcement of a US-Iran ceasefire, coupled with a drop in crude oil prices. The Sensex and Nifty both closed nearly 4 per cent higher, mirroring gains in global markets.
Analysts predict that the ongoing conflict in West Asia, crude oil price fluctuations, and the US Federal Reserve's interest rate decision will significantly influence the Indian equity market this week.
Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows, points out A K Bhattacharya.
'It was diminishing even before Trump came to power.' 'The US was at the centre of the global economy. That position is going to become less and less important and less central.'
Union Minister Pankaj Chaudhary stated that Prime Minister Narendra Modi strengthened the Enforcement Directorate to combat financial crimes like money laundering and corruption, dismissing allegations of it being used to target political opponents.
The Supreme Court has deferred the hearing on a PIL alleging large-scale banking fraud involving the Anil Dhirubhai Ambani Group and its firms to May 8.
Hyderabad Police Commissioner V C Sajjanar has proposed a Joint Working Group with the RBI and banks to address the issue of mule bank accounts used in cyber fraud. The proposal follows 'Operation Octopus,' which exposed vulnerabilities in KYC verification. Sajjanar also recommended strict directives for banks to fix accountability and adopt advanced technology to detect suspicious transactions.
The rupee plunged to a fresh low of 93.72 against the dollar on Friday, falling 1.15 per cent in a single session - its sharpest one-day decline since February 24, 2022 - as elevated crude oil prices and strong dollar demand from oil-marketing companies and foreign portfolio investors (FPIs) weighed on the currency.
Mizoram police and Assam Rifles seized methamphetamine tablets worth Rs 38.7 crore in Champhai district, bordering Myanmar, arresting three individuals including a Myanmar national.
The Clearing Corporation of India (CCIL) will be able to reapply for recognition by the European Union's (EU) financial markets regulator following a pact signed on Tuesday between the Reserve Bank of India (RBI) and the European Securities and Markets Authority (Esma).
Hampton Sky Realty Limited, formerly directed by Punjab minister Sanjeev Arora, has issued a statement asserting its innocence and cooperation with authorities following the arrest of Arora in connection with a money laundering probe.
Union Minister Pankaj Chaudhary stated that Prime Minister Narendra Modi strengthened the Enforcement Directorate (ED) to combat financial crimes like money laundering and corruption, dismissing allegations of it being used to target political opponents.
'We are staying away from making forward-looking statements on when we will reach 1 trillion, etc. But growth will be rapid; it's only a matter of time.'
A special court in Mumbai has denied Indrani Mukerjea, an accused in the Sheena Bora murder case, permission to travel to Spain and the United Kingdom, citing concerns about her being a flight risk and the trial nearing its conclusion.
Among the Sensex constituents, Asian Paints, Tech Mahindra, HCL Technologies, Tata Steel, Maruti Suzuki India, Sun Pharmaceuticals, Tata Consultancy Services, ICICI Bank, Bajaj Finance, UltraTech Cement, Mahindra & Mahindra and Tata Motors Passenger Vehicles were the laggards. However, Eternal, Titan, Adani Ports, Bharat Electronics Ltd, State Bank of India, Bajaj Finserv, NTPC and Bharti Airtel were among the gainers.
India's state-level fiscal rules have improved headline deficits, but the gains are fragile and uneven with major states still grappling with high debt levels, a World Bank report submitted to the 16th Finance Commission (FC) said. According to the report, despite nearly two decades of adoption of fiscal responsibility laws (FRLs), debt levels have not converged.
Indian stock markets extended their gains for a third consecutive day, with the Sensex climbing 753 points and the Nifty closing above 24,550, driven by a drop in crude oil prices and optimism surrounding potential peace talks between Iran and the US.
The proposed four per cent inflation target is onerous, considering India is currently battling near-double-digit increases in prices.
