IndusInd Bank was the top gainer in the Sensex pack, rallying over 4 per cent, followed by SBI, Bajaj Finance, Bharti Airtel, Axis Bank, Sun Pharma, HDFC and PowerGrid.
The World Bank warns that the world will see a slower growth that will require tighter and better supervision of the financial system.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
Aviation watchdog DGCA on Thursday decided to place crisis-hit SpiceJet under enhanced surveillance that will entail increased spot checks and night surveillance to ensure safety of the airline's operations. Based on reports of cancellation of flights and financial stress being experienced by SpiceJet, DGCA said it conducted a special audit of the airline's engineering facilities on August 7 and 8 and certain deficiencies were found during the audit.
French energy giant TotalEnergies SE on Monday said it will make no new financial contribution as part of its investments in Adani group companies till the Indian firm's founder is cleared of bribery charges. The energy giant said it was not aware of the investigation into the alleged corruption. TotalEnergies is one of the biggest foreign investors in billionaire Gautam Adani's business empire and had previously taken stakes in the group's renewable energy venture Adani Green Energy Ltd (AEGL) and city gas unit Adani Total Gas Ltd (ATGL).
The National Company Law Tribunal (NCLT) on Wednesday admitted Go First's voluntary plea to initiate the insolvency resolution process against the airline. A two-member bench comprising President Justice Ramalingam Sudhakar and L N Gupta also appointed Abhliash Lal as interim resolution professional (IRP) to run the debt-ridden company. It has also put the company under protection of moratorium and directed the suspended board of directors to assist the IRP to run the company during insolvency proceedings.
As the global economic crisis deepens, policymakers need to shed received wisdom and act pragmatically.
According to IMF, India is safe from global financial crises as of now. But since it is part of the global economy it is difficult to de-couple it with the rest of the world.
The proposal was mooted at a Prime Minister's Office meeting.
Notably Trump had withdrawn from the Paris Agreement immediately after his first inauguration in January 2017. Joe Biden reversed that decision later.
Predicting a gloomy economic future, a top United Nations trade and development agency today said the governments still have a long way to go to tide over the financial crisis.
'We may have moved back three decades on the fiscal situation,' notes T N Ninan.
Delhi faces a severe financial crunch and the deficit is largely due to numerous welfare schemes without adequate revenue flowing in. The success of welfare schemes and electoral promises will need careful financial planning and out of the box thinking to whip up additional revenue, notes Ramesh Menon.
Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
We forget that, three months ago, the over-riding economic problem in India was inflation. So the good news is that the tide has turned.
India's economy is likely to grow by 6.5 per cent in the current and the next financial year, an EY report said, attributing lower than anticipated expansion in the September quarter to fall in private consumption expenditure and gross fixed capital formation. Real GDP growth eased to a seven-quarter low of 5.4 per cent in July-September -- the second quarter of the current 2024-25 fiscal year.
The United Kingdom extracted USD 64.82 trillion from India over a century of colonialism between 1765 and 1900 and USD 33.8 trillion of this went to the richest 10 per cent -- enough money to carpet London in notes of 50 British pound almost four times over.
Opening the two-day 15th NAM Summit of the 118 developing nations at this Egyptian Red Sea resort city, Cuban President Raul Castro said the grouping believes that all countries in the world should search for effective and justified measures to tackle the current financial crisis.
The government is discussing a number of policy measures to insulate India from the impact of the global financial crisis including further banking reform, industrial de-control, auctioning all loss-making public sector units, foreign investment in retail, amending labour laws and notifying important pending legislation like the Delhi Rent Control Act.
The Bill when enacted will pave the way for setting up of the Resolution Corporation
There have been sharp differences between the Russia-China combine and the Western countries over the text to describe the Ukraine crisis.
Now that the economy is growing at a higher-than-expected rate, it is time to accelerate the pace of fiscal consolidation, and the Budget could be a good starting point, argues Rajesh Kumar.
The global crisis will impact India, the IEG report said. The flight of foreign capital has created liquidity problems. 'In the medium term, this is expected to pull down industrial output growth which is already in a slowdown phase.' The sharp decline in industrial production growth during April-August together with the decline in the second quarter corporate results indicate that overall industrial growth would be much smaller than last year's growth of nine per cent.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The US expects India to play a greater role along with China and other major economies in tackling the current financial crisis and supports bigger responsibilities for it in the international financial institutions, Treasury Secretary Timothy Geithner has said.
'Does 99 percent guarantee character and capacity for an independent awareness of life or does it make you -- barring exceptions -- a compliant careerist beholden to governments and corporations?' 'What kind of political and social choices would such minds make?' asks Shyam G Menon.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
According to the World Bank's latest Migration and Remittances Factbook 2011, remittance flows to developing countries is expected to reach $325 billion by the end of this year, up from $307 billion in 2009.
In the first nine months of 2009, FDI dipped by 26 per cent to $21.4 billion from $29 billion a year ago. The total FDI inflow into India since 2001 crossed the $100 billion mark.
What do the fluctuating gold-silver price ratio portend?
'...similar to the 2008 global financial crisis, the 2012 taper tantrum, or the 2018 midcap crash.' 'This could lead to a substantial decline in activity and revenues for the broking industry.' 'When this will happen is uncertain, but as brokers, we must be prepared for such a downturn.'
This does not necessarily mean that macroeconomic data will improve dramatically. Growth and employment could depress for a while. The markets are, however, unlikely to bother with absolute levels. They will cheer a situation in which the numbers don't get any worse and show the mildest promise of improvement.
The global financial crisis that started in the later part of 2008 following the collapse of the Wall Street investment bank Lehman Brothers may be over but the cleaning up process is still on, said Chairman of Federal Deposit Insurance Corporation Sheila Bair on Tuesday.
In its bi-annual report 'Food Outlook', FAO noted that much of the boost in cereal production took place in developed countries, where farmers were in a better position to respond to high prices. Concepcion Calpe, one of the main authors of the report, said this year's record cereal harvest and the recent fall in food prices should not create a false sense of security.
Finance Minister P Chidambaram on Friday cancelled his visit to Washington for attending the Fall meeting of the World Bank and IMF on Monday.
'Justice may or may not happen, but who are those people who did this to her?' 'If the hospital authorities had helped us that day, or the police, then the real culprits would have been caught.' 'Getting justice for my daughter is my goal now and I want the CM to remember that.'
The organisation established its electoral presence post-Independence in states such as Tamil Nadu, Andhra Pradesh, Kerala and Assam, with West Bengal being its main stronghold, but eight decades down the line, the party, now limited to just some pockets of the country, has no MP or MLA in its kitty.
Government-estimated growth for 2008-09 is 7.1 per cent. However, as per RBI estimates, GDP growth would be around 6 per cent in 2009-10.
Umesh Keelu said he would be motivating other youngsters from Dharavi slums to join the armed forces.
The Reserve Bank of India (RBI) added another 102 metric tonnes to the domestically held gold in the April-September period, as per a disclosure made on Tuesday. The overall quantity of the precious metal stored in local safes stood at 510.46 metric tonnes as of September 30, which was up from over 408 metric tonnes as on March 31, 2024. The central bank said it added another 32 metric tonnes of gold reserves in the six-month period to take the overall tonnage to 854.73 metric tonnes, as per the half yearly report on management of foreign exchange reserves.
