Nepalese officials had alleged that the four entered Nepal for the smuggling of narcotics. They also claimed to have recovered 'brown sugar', a pistol and a machine used to print fake currency notes from Govinda Singh.
'It is like bombing a building with 200 people to kill 5 terrorists.'
With the next review of the flexible inflation target (FIT) framework coming up soon, the Reserve Bank of India (RBI) on Friday said the current inflation target of 4 per cent with a +/-2 per cent tolerance band is appropriate for the next five years. The country adopted the FIT framework in 2016, and the next review of the inflation target is due before March 31, 2021. "The current numerical framework for defining price stability, i.e., an inflation target of 4 per cent with a +/-2 per cent tolerance band, is appropriate for the next five years," the RBI said in the Report on Currency and Finance (RCF) for the year 2020-21.
After posting double-digit growth for the fourth consecutive quarter, chief executive officer and managing director Salil Parekh tells Yuvraj Malik and Debasis Mohapatra that the firm is not facing any delay in ramping up of large deals.
Will Infy spring a surprise in subdued second quarter?
Tata Consultancy Services (TCS) on Friday reported a 14.1 per cent rise in consolidated net profit to Rs 9,624 crore in the September 2021 quarter, aided by broad-based growth across geographies and verticals. The Mumbai-based company had logged a net profit of Rs 8,433 crore (excluding adjustment towards a legal claim) in the year-ago period. Its revenue grew 16.7 per cent to Rs 46,867 crore for the September 2021 quarter from Rs 40,135 crore in the year-ago period.
Despite price correction, policies that support the yellow metal will remain in place in the foreseeable future.
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
Titan was the top gainer in the Sensex pack, rising over 3 per cent, followed by M&M, Reliance Industries, Axis Bank, TCS, Maruti and Infosys. NSE Nifty surged 122.10 points to 15,885.15.
'We spent considerable time re-skilling all the employees, and then we created a new focus called the 'One Infosys'.'
If struggling with dealing with queues of people asking for new notes wasn't enough, banks are now facing the challenge of storing the old notes in their strong rooms.
While far from being a currency war, India does not have much of an option but to depreciate to accommodate its exports at a time when China shows its intent to let its currency depreciate.
The sale will be quicker if an Indian private bank buys it; it will take longer for regulatory clearances if a foreign bank or an NBFC buys it, points out Tamal Bandyopadhyay.
'Today, there is no easy money to be made after the run-up in equities.'
Most positives seem to be factored into current valuations.
The central bank can directly print money and finance the government, but it should avoid doing so unless there is absolutely no alternative, former RBI governor D Subbarao on Wednesday said while pointing out that India is 'nowhere' near such a scenario. In an interview with PTI, Subbarao suggested that to deal with the second wave of COVID-19 induced slowdown in the economy, the government can consider Covid bonds as an option to raise borrowing, not in addition to budgeted borrowing, but as a part of that.
'If the third wave of Covid infections is as bad as the second one, the market may get very polarised with a preference for blue-chips with low volatility.'
'NRI interest has gone up in the past three-four years.'
Data compiled by National Collateral Management Services (NCML, a non-government body) shows a 6.3 per cent rise to 109 million tonnes (mt). The Union ministry of agriculture's first advance estimate was 100.5 mt, as compared to 102 mt in last year's fourth advance estimate.
Going by the real effective exchange rate, the rupee is overvalued
'It is going to be a tough balance for the RBI to manage economic stability and ensure smooth government borrowing.'
Leveraging global capital markets to give muscle to an innate competitive advantage in rapid mass transaction systems will lead to India becoming a petri dish for global enterprises and new-age innovation that it yearns to be.
Year-to-date, the rupee is the worst-performing currency in Asia, weakening 4.184 per cent against the US dollar.
The opposition will seek to target the government on the issue of farmers' plight as well as their demand for a legal backing for minimum support price.
Congress leader Rahul Gandhi alleged that Modi's move was aimed at helping a few of his 'crony capitalist friends' and had 'destroyed' the Indian economy, prompting a strong response from the BJP which said the exercise was an 'attack' on corruption and black money that were rampant during the 'lost decade' of the Congress-led United Progressive Alliance government.
'They asked me if I was a devout Muslim and if I could recite the Kalma.' Flying Officer Jawahar Lal Bhargava knew his game was up. 'They threatened me with dire consequences if I didn't tell the truth.'
If your children live abroad, rely more on financial assets as they are easier to liquidate and move across borders.
By diversifying into developed market equities, Indian investors can mitigate the impact of cyclicality in returns as well as reduce currency risk, experts tell Sanjay Kumar Singh.
The strong client metrics, industry leading growth in digital services, a very strong order book and deal pipeline are validations that customers recognise TCS' differentiated capabilities, chief executive officer and managing director Rajesh Gopinathan said.
Such an economic environment tends to be positive for gold, the ultimate safe-haven asset. Since gold cannot be debased by central banks, it naturally gains in value.
The apex bank held 586.44 tonne of gold as on September 30, of which 294.14 tonne are held overseas in safe custody with the Bank of England and the Bank for International Settlements, while the remaining gold is held domestically
If you are travelling internationally in the next two months, it's a good time to exchange your currency.
'Market feels this Budget will promote all-round growth and that is what is giving it confidence.'
This was among the few times that TCS had to deploy rapid application development mode, which means changes in the application happen on-the-go.
Gowda cited the Central government's directive, according to which hospitals have been asked to accept old currencies till November 24, but in vain.
Experts disagree with the idea and the Reserve Bank of India (RBI), which has the sole right to print money, is not comfortable with it as well.
Heading to the third year, will Urjit Patel be busy firefighting a currency crisis? Almost no governor of the RBI managed to evade it and Patel perhaps knows it.
On a daily basis, an average cash logistics company transports Rs 5,000-8,000 crore worth of cash nationwide.
RBI is expecting the rupee to stay close to Rs 75 to a dollar, as COVID-19 forces foreign funds to withdraw from emerging markets.
While RBI's foreign exchange reserves have swelled to over $400 billion, it has a 'sell' position of $981 billion.
