Expressing anguish over the manner in which women were subjected to grave atrocities in Manipur, the Supreme Court has said that mobs use sexual violence to send a message of subordination to the other community and the state is bound to stop this.
United States Secretary of State Antony Blinken will travel to India next week to attend the meeting of G20 foreign ministers and meet senior Indian officials to reaffirm America's strong partnership with the country.
PSBs have been requested to reach out to MSMEs to provide bill discounting to them against their dues since they suffer the most from shortage of cash.
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
If 4,000 workers could work round the clock for the construction of the new Parliament building, then there is no reason why all infrastructure projects too cannot follow that model, asserts Dr Sudhir Bisht.
Finance Minister Nirmala Sitharaman will have to do a tight-rope walk between staying fiscally prudent and general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy before general elections. Sitharaman will on Wednesday present her fifth straight Budget at a time when the economy is slowing due to global headwinds and specific sectors need attention. In the run-up to the Budget presentation, expectations are rife that she may tweak income-tax slabs to provide relief to the middle class and increase spending on the poor through programmes such as the rural job scheme while ramping up financial incentives for local manufacturing.
The Supreme Court has dismissed the bail plea of jailed former CMD of Amrapali Group of Companies Anil Kumar Sharma, saying he doesn't deserve "sympathy" after having siphoned off the hard-earned money and life savings of thousands of homebuyers. "You have cheated thousands of homebuyers. You siphoned off their hard-earned money and their life savings. You do not deserve any sympathy," a bench comprising Justices Ajay Rastogi and Bela M Trivedi said, and refused to issue notice to the prosecuting agency on the bail plea of Sharma who has been in jail for over four years in the case. "Yours is not a case of simple cheating. See the plight of thousands of home buyers. You cannot have our sympathy. You better enjoy being in jail... This court is very aware of what you did.
Trump was in contact with multiple lawmakers who have since gone into self-imposed quarantine.
The Supreme Court on Monday said that it will constitute a fresh bench to hear the plea of home buyers seeking delivery of their homes booked with the Amprapali group. A bench comprising Chief Justice D Y Chandrachud and Justice J B Pardiwala was urged by a counsel for home buyers to set up a fresh bench as the matters pertaining to the Amrapali group were being heard by a bench headed by the then CJI U U Lalit, who demitted office on November 8. "I will constitute a bench," the CJI said. The plea was mentioned by lawyer M L Lahoty, appearing for home buyers.
The Director of the Peradeniya Hospital in the central district of Kandy on Monday announced the temporary suspension of all routine surgeries due to the shortage of medicine.
A bench of Chief Justice DY Chandrachud and Justices PS Narasimha and Manoj Mishra agreed to hear the plea after senior advocate Abhishek Singhvi, appearing for Gandhi, sought listing of the appeal on July 21 or July 24.
Benchmark interest rate hiked by 50 basis points to 3-year high at 5.90 per cent. Economic growth projection for FY23 cut to 7% from 7.2% estimated in August. GDP expected to grow at 6.3% in September quarter, 4.6% each in December and March quarters.
Upping the ante, fintech unicorn BharatPe has filed an arbitration for clawing back it's former MD and co-founder Ashneer Grover's restricted shareholding and founder title, sources said. The arbitration was filed on Thursday under Singapore International Arbitration Centre (SIAC) rules, sources with direct knowledge of the matter said. If relief is granted, Grover may lose his unvested shares and right to use the founder title.
The government on Thursday tweaked curbs on imports of laptops and computers as it allowed importers to bring in shipments of IT hardware from overseas on a mere 'authorisation' upon detailing quantity and value. The new 'import management system' is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply or creating a cumbersome licensing regime. The announcement is likely to provide relief to companies in the IT hardware segment in India as they had flagged concerns over the imposition of a strict licensing regime for importers.
No process can offer a panacea for ethnic conflict, but there are times at which a legal process could work to defuse violence, asserts Supreme Court lawyer Devvrat.
Gogoi was the only one whose bail was rejected by the court and he was released after spending 567 days in jail once Special NIA Judge Pranjal Das cleared him along with the three others of all charges.
The magistrate said that with Paes's career in tennis 'almost over', it would cause 'serious prejudice' to order him to live in a rented home while also paying maintenance to Pillai.
Indices across Indian equity markets have edged towards new record highs before undergoing a small correction in the past few sessions. The National Stock Exchange Nifty has gained 20 per cent in the past year; mid-caps (up 33 per cent), small-caps (up 31 per cent), and micro-caps (up 44 per cent) have done better. Several factors have precipitated this rally.
The likelihood is that India will maintain a moderately upbeat economic tempo -- well short of tearaway growth, explains T N Ninan.
Retail inflation fell to a 15-month low of 5.66 per cent in March, mainly due to a decline in food prices, government data showed on Wednesday. The inflation figure in March is within the RBI's comfort zone as it is below 6 per cent. The retail inflation based on Consumer Price Index (CPI) was 6.44 per cent in February 2023 and 6.95 per cent in the year-ago period.
Finance Minister Nirmala Sitharaman on Tuesday met IMF managing director Kristalina Georgieva and discussed a range of issues, including impact of geopolitical situation on global growth.
Tourism is badly affected. Entire apple orchards have been washed away. 2 million people are threatened with loss of livelihood.
Barely days after imposing a 40 per cent export tax on onions to cool down soaring prices, which, in turn, triggered widespread protests across the main growing belts, the Centre on Tuesday sought to mitigate both political and economic tensions gripping parts of Maharashtra. It decided to procure an additional 200,000 tonnes of onions at Rs 2,410 per quintal for its buffer stock from farmers, a rate that is strikingly close to the price at which they were being exported before the 40 per cent duty was levied on August 19. The export price before the imposition of the duty stood at around $320 per tonne free on board (approximately Rs 2,650 per quintal).
Opposition leaders slammed the Centre on Wednesday for its 'limited' focus on important sectors like health and education in the Budget for 2023-24 fiscal.
The Sri Lankan government on Sunday lifted the ban it had imposed on social media platforms such as WhatsApp, Twitter, Facebook and Instagram after declaring a nationwide public emergency and effecting a 36-hour curfew ahead of a planned anti-government rally over the worst economic crisis in the island nation.
India exhaled a huge sigh of relief in the weekend as Bhutan's opposition People Democratic Party defeated the incumbent Druk Pheunshum Tshogpa in polls, setting the stage for a renewal of ties that had come frayed in the recent controversy over removal of subsidies for liquefied petroleum gas and kerosene.
The government on Tuesday extended the deadline for filing income tax and GST returns, raised the threshold of default that could trigger insolvency of a company, and waived charges on cash withdrawals from ATMs of other banks as a precursor to a broader stimulus package for the economy distressed by the coronavirus outbreak.
Since March 31, 2022, the PSBs' market cap has risen 43.7 per cent, from Rs. 7.29 trillion to Rs. 10.47 trillion. It's time for the government, the majority owner of public sector banks, to reap the benefit of the rally in bank stocks, recommends Tamal Bandyopadhyay.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
Fitch Ratings on Wednesday cut India's growth forecast to 10 per cent for the current fiscal, from 12.8 per cent estimated earlier, due to slowing recovery post second wave of COVID-19, and said rapid vaccination could support a sustainable revival in business and consumer confidence. In a report, the global rating agency said the challenges for banking sector posed by the coronavirus pandemic have increased due to a virulent second wave in the first quarter of the financial year ending March 2022 (FY22). "Fitch Ratings revised down India's real GDP for FY22 by 280bp to 10 per cent, underlining our belief that renewed restrictions have slowed recovery efforts and left banks with a moderately worse outlook for business and revenue generation in FY22," it said. Fitch believes that rapid vaccination could support a sustainable revival in business and consumer confidence; however, without it, economic recovery would remain vulnerable to further waves and lockdowns.
Corporate India's credit quality showed a sharp improvement in the second half of FY22, but high input prices and withdrawal of pandemic-related relief measures can pose pressures in the new year, rating agencies said on Friday. Crisil Ratings, which rates a large number of financial sector entities, reported an improvement in the credit ratio -- the number of upgrades to downgrade -- to 5.04 times in the second half of this financial year, from the 2.96 per cent in the first half of the fiscal. It attributed the improvement to a sustained rebound in demand, which lifted revenues of most sectors to pre-pandemic levels and proactive relief measures by the government that cushioned the pandemic blow.
India on Thursday abstained on a draft resolution in the UN Human Rights Council in Geneva on promoting reconciliation, accountability and human rights in Sri Lanka which was adopted.
Congress president Mallikarjun Kharge alleged that the price of domestic cooking gas cylinder has been raised by Rs 50 and that of commercial gas cylinder by Rs 350 at a time when every person in the country is facing the brunt of high inflation.
Chief Minister Sukhvinder Singh Sukhu said efforts are on to rescue the 300 stranded people, and they could be airlifted as the weather clears. Power and water supply has been snapped in several areas.
Reserve Bank Governor Shaktikanta Das will hold a meeting with CEOs of public sector banks on Wednesday to discuss issues concerning slow deposit growth and sustainability of high credit demand. As per the Reserve Bank of India (RBI) data, deposits rose by 9.6 per cent as compared to 10.2 per cent on a year-on-year basis, while credit offtake witnessed a jump of 17.9 per cent as against 6.5 per cent a year ago. According to an agenda circulated for the meeting, sources said, sustainability, including pricing and slow growth of deposits, would be discussed.
The finance minister has stayed true to her commitment to fiscal consolidation, even though the pace of the decline in the deficit could have been faster, notes A K Bhattacharya.
"Heard. Judgement reserved. Learned counsels of the Union of India and Reserve Bank of India are directed to produce the relevant records," the bench, also comprising Justices B R Gavai, A S Bopanna, V Ramasubramanian, and B V Nagarathna, said.
Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday as the euphoria about the Budget fizzled out, with investors going for profit-taking ahead of the Fed interest rate decision. The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to settle at 59,708.08 after it trimmed most of the intra-day gains. During the day, it had zoomed 1,223.54 points or 2 per cent to 60,773.44.
Non-banking finance companies face renewed asset quality and liquidity risks amid a second wave of COVID-19, Fitch Ratings said on Thursday. These challenges are likely to increase if recent restrictions to contain the pandemic are expanded or prolonged, leading to greater economic and operational disruption, it added. The rating agency further said that an increase in the rate of infections and broadening of social distancing restrictions pose downside risks to its 12.8 per cent growth projection for the current fiscal.
Both prime ministers believed in crafting schemes to help the common man. Modi used quite effectively the instruments Dr Singh introduced. In assessing Modi's success with many schemes, Dr Singh's fundamental work should not be ignored, points out A K Bhattacharya.
