Any adverse electoral fallout in Thrikkakara by-poll may have an impact on Rahul Gandhi because this falls in the state he represents as a member of Parliament and KC Venugopal because it is his home state, reports Shine Jacob.
Last week's panic in financial markets finally forced European policy-makers into taking decisive action.
The United States on Tuesday sought greater engagement with India on the economic front, saying their ability to cooperate was critical to creating a more stable global financial system, balanced economic growth and an open trading system.
The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise.
'We still need a certain number of large public sector banks for financial inclusion and stability purposes.'
A statement from the club on Thursday said they had made record turnover of 990 million euros last season and projected an increase to 1.047 billion euros for the 2019/20 campaign.
India on Friday said it was concerned over the developments around Taiwan and called for avoiding "unilateral actions" to change the status quo in the region, days after China held its biggest-ever military drills around the self-ruled island following US House Speaker Nancy Pelosi's visit to it.
Rajan addressed a group of investors in Boston on Thursday.
'It will be best for investors to have a systematic investment plan in mid-cap and small-cap funds with a three-/five-year horizon.'
Reserve Bank Governor Shaktikanta Das on Friday said 67 per cent of the decline in the foreign exchange reserves since April was due to valuation changes arising from strengthening US dollar and higher American bond yields. The forex reserves, which stood at $606.475 billion as on April 2, have declined to $537.5 billion as on September 23. It was also the eighth straight week when the reserves declined.
The government has budgeted for total expenditure of Rs 34.83 lakh crore or 6.8 per cent of GDP. While the net tax revenue rose from Rs 5,75,697 crore in October 2020 to Rs 10,53,135 crore till October 2021, a growth of 82.93 per cent annualized, total expenditure rose only by 9.95 per cent, led by infra spending to Rs 18,26,725 crore from Rs 16,61,454 crore during the same period, the RBI said in the financial stability report.
The Financial Stability and Development Council meeting on Tuesday started with an air of tension in the room. An official present described the participants' body language as "tetchy". However, once presentations and discussions begun, the mood considerably eased.
Billionaire Mukesh Ambani on Friday backed the proposed data privacy and cryptocurrency bills, saying India is putting in place the most forward-looking policies and regulations. Ambani, who has been a votary of Indians owning and controlling their own data and the nation drafting strict rules around how digital information is stored and shared, said nations have the right to build and protect strategic digital infrastructure. Stating that data is the 'new oil', he said every citizen's right to privacy has to be safeguarded. "India is putting in place the most forward-looking policies and regulations," he said at the Infinity Forum, hosted by International Financial Services Centres Authority (IFSCA).
Gopalakrishna's name was in the reckoning for Deputy Governor in place of Anand Sinha who retired in January.
India's exports contracted 12.2 per cent to $34.48 billion in December 2022, mainly due to global headwinds, and the trade deficit widened to $23.76 billion during the same period, according to official data released on Monday. Imports in December 2022 also declined 3.5 per cent to $58.24 billion as against $60.33 billion in the year-ago period. In December 2021, exports stood at $39.27 billion and the trade deficit was at $21.06 billion.
India, he said, has already taken a host of reforms in banking and other sectors and is now focussing on stepping up public investment. "Compared to other nations, even among advanced countries, I think India is relatively better placed for the simple reason that India paid a certain price last decade... we had a banking system stress which was then compounded by stress in the non-banking financial sector towards 2018," he said at Amazon Smbhav Summit.
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The NPAs of banks stood at over Rs 3 lakh crore as on December 2014.
Few proposals included in the Finance Bill would not help ease liquidity concerns in the economy, say RBI officials.
India lost the hosting rights of the 2021 men's World Boxing Championship to Serbia after the national federation failed to pay the host fee, prompting the International Boxing Association (AIBA) to terminate the agreement signed in 2017. The elite competition, which would have happened for the first time in the country, will now be held in the Serbian city of Belgrade.
The government is considering a provision to provide an exit window to holders of cryptocurrencies (cryptos), keeping in mind that banning them outright could deal a blow to investors sitting on them for years. According to sources in the government, the framework in the making may propose a grace period of three to six months for investors before prohibiting the possession, trading, mining, and issuing of cryptos. A group of secretaries chaired by the Cabinet secretary is learnt to have met in mid-March and discussed issues associated with cryptos, including the consequences of banning them and also on possible substitutes of blockchain technology - an advanced technology Bitcoin uses.
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
'I can confidently say there will be another financial crisis soon enough, and probably more than one global crisis within the next century, given the increasingly integrated nature of the global economy.'
The highlights of the RBI's fourth monetary policy review of fiscal year 2022-23 announced by Governor Shaktikanta Das.
Moratorium was only a temporary reprieve to borrowers affected by the pandemic, adding that a longer moratorium period exceeding six months can impact credit behaviour of borrowers and increase the risks of delinquencies post resumption of scheduled payments.
Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the 'distance to default' as a measure of a particular bank's fragility, reveals Tamal Bandyopadhyay.
While it hit the national capital two days before schedule, its entry into the financial capital is two weeks late, the Met office said.
Adani Enterprises on Wednesday said it has decided to withdraw its fully subscribed Rs 20,000-crore follow-on public offer (FPO) and will return the proceeds to investors. The announcement came a day after the company's FPO was subscribed fully on the last day of the offer on Tuesday. "The Board of Adani Enterprises Ltd., (AEL) decided not to go ahead with the fully subscribed FPO.
The acquisition will give the Tatas a firm footing on international routes and generate economies of scale.
SIBs are perceived as ones that are 'Too Big To Fail'
India's public debt ratio, which remarkably remained stable at around 70 per cent of the GDP since 1991, is projected to jump by 17 percentage points to nearly 90 per cent because of increase in public spending due to COVID-19, the IMF said.
Transiting from "survival mode", which took most of the management time in FY21, the bank has been able to take a long-term view in terms of growth and preparing technology in the past 12 months.
As on June 16, currency in circulation was Rs 15.29 lakh cr, or 86.2% of pre-note ban level
Diversified entity ITC Ltd on Thursday reported a 22.66 per cent rise in consolidated net profit at Rs 5,225.02 crore in the fourth quarter ended March 2023, led by a strong growth momentum across operating segments. The company had posted a net profit of Rs 4,259.68 crore a year ago, ITC Ltd said in a regulatory filing. Its revenue from operations increased 7 per cent to Rs 18,799.18 crore in the period under review against Rs 17,754.02 crore in the year-ago period.
'Most importantly, marking a departure from the past, the RBI has made it clear that it is not overtly worried about the level of the local currency,' notes Tamal Bandyopadhyay.
Gross bad loans of banks may rise from 6.9 per cent in September 2021 to 8.1-9.5 per cent by September 2022 if the Omicron variant strikes the economy hard, as per the financial stability report of the Reserve Bank released on Wednesday. The report also said that the rising stress level in the retail loan portfolio of banks -- the mainstay of bank credit for many years now -- was led by home loans, which grew in double-digits so far this fiscal. While asset quality improved, with gross non-performing assets (GNPA) and net NPA (NNPA) ratios declining to 6.9 and 2.3 per cent, respectively, in September 2021, the slippage ratio inched up during the same period as private sector banks showed a higher rate of deterioration in asset quality, as per the report.
About 50 per cent of the accounts that availed of the EMI moratorium amid the pandemic, which made things worse in an already slowing economy, are expected to be restructured, and of these accounts that would undergo restructuring, one-third, or Rs 6-9 trillion, could turn into NPAs.
KYC done while opening a bank account can be used to open a mutual fund account.
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Many countries, including Japan, are having deflation and they are trying to go back to an era of inflation.
Without naming Adani group specifically, the capital markets watchdog said in a statement that unusual price movement in the stocks of a business conglomerate has been observed in the past week.
The IMF on Tuesday projected an impressive 12.5 per cent growth rate for India in 2021, stronger than that of China, the only major economy to have a positive growth rate last year during the COVID-19 pandemic. The Washington-based global financial institution, in its annual World Economic Outlook ahead of the annual Spring meeting with the World Bank, said the Indian economy is expected to grow by 6.9 per cent in 2022. Notably in 2020, India's economy contracted by a record eight per cent, the International Monetary Fund (IMF) said as it projected an impressive 12.5 per cent growth rate for the country in 2021.
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