India on Tuesday told the UN General Assembly that the days when a few nations set the agenda and expected others to fall in line are over, underlining that its presidency of the G20 sought to focus on key concerns of the many, not just the narrow interests of a few.
Only 21 tonnes of gold have been mobilised in the last eight years under the gold monetisation scheme (GMS) which was announced by the Government of India in November 2015. This could be considered as a failure as the scheme has undergone several changes with a revamped GMS announced in April 2021 to improve collections. This figure was released by the World Gold Council (WGC) on Wednesday in its report titled 'Gold Investment Market and Financialisation, in India gold market series'.
India's role as a leader of the global south may require it to give up its ambition to serve as a bridge between the warring halves of the international community, points out Mihir S Sharma.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
'Most students find it difficult to cope with the way they are expected to learn at the IITs.' 'So, all the students face the same stress.' 'But those students who are mentally weak are more affected.'
Shift your focus from looking at things that are out of your control to what is in your control after losing your job, advises Dr Shefalika Sahai.
The asset quality of non-banking financial companies (NBFCs) deteriorated in April-September 2021 (H1FY22) owing to the second wave of the pandemic. Their gross non-performing assets (NPAs) rose to 6.8 per cent in September 2021 from 6 per cent in March 2021. The Reserve Bank of India's (RBI's) annual Trend and Progress report (FY21) said the sector might have to grapple with higher delinquencies as and when policy measures unwound. The pandemic posed significant challenges to NBFCs during the first wave (2020) also.
The Indian economy will grow at around 6.5 per cent in the current fiscal, notwithstanding high crude oil prices and increased uncertainty due climate changes, NITI Aayog member Arvind Virmani said on Thursday. Virmani also asserted that the gross household savings ratio in India has consistently gone up. In an interview with PTI, he said: "My growth projection (of India's GDP growth) is 6.5 per cent plus minus 0.5 per cent... because my experience is that the fluctuations in global GDP more or less has balanced out for us, assuming normal changes."
A plea that the banking regulator's stress should be on the strategic role of boards and an increase in the remuneration of independent directors were among the issues put forward to the Reserve Bank of India's (RBI's) top brass in its interaction with the full boards of state-run banks held on Monday. The meeting, the first leg of first-of-its-kind interactions with the boards of state-run banks, will now be followed by those of private banks in Mumbai on May 29. The RBI's press release, issued late on Monday, did not refer to the specific points that found mention in the deliberations, but top sources told Business Standard the twin concerns were taken up in the open-house interaction with the banking regulator's brass.
It's going to be a hell of journey, says Sindhu welcoming new coach Hafiz Hashim
The best way is to combine relaxation techniques and a healthy balanced diet.
Beware: During the period that you avail of the moratorium, there would be no repayment of interest or principal. Thus, the outstanding will go up substantially for this period as a consequence
Asserting that the world does not have much time to correct the mistakes of the last century, Prime Minister Narendra Modi on Friday announced a 'Green Credit Initiative' focused on creating carbon sinks through people's participation and also proposed to host the United Nations climate conference in 2028, or COP33, in India.
Reliance Capital has two credit verticals -- Reliance Commercial Finance and Reliance Home Finance -- with a cumulative asset of over Rs 25,000 crore.
The Indian economy has "some bright spots and a number of very dark stains" and the government should target its spending "carefully" so that there are no huge deficits, noted economist and former RBI Governor Raghuram Rajan said on Sunday. Known for his frank views, Rajan also said the government needs to do more to prevent a K-shaped recovery of the economy hit by the coronavirus pandemic. Generally, a K-shaped recovery will reflect a situation where technology and large capital firms recover at a far faster rate than small businesses and industries that have been significantly impacted by the pandemic.
'While consumers have benefited tremendously from rock-bottom telecom tariffs, the telecom sector has been reeling under deep financial stress,' points out Rajan S Mathews, director general, Cellular Operators Association of India.
The average time lag between the date of occurrence of a fraud and its detection is 23 months; for large frauds (Rs 100 crore and above), it was 57 months.
"My judicial custody in Tihar jail and being confined to a prison cell with just the basic amenities definitely came as a rude shock."
At least five state-run banks on central bank's radar for lax credit appraisal
A former deputy head teacher at a London primary school who had pleaded guilty to paying and instructing teenagers in India to abuse younger children was sentenced to 12 years in prison on Wednesday.
However, official sources said the Assam Rifles -- a border guarding force -- primary mandate or task is not drug law enforcement.
Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have been invited to join the grouping.
The Department of Telecommunications (DoT) has initiated discussions with banks to address financial stress in the telecom sector, particularly Vodafone Idea Ltd (VIL) that urgently requires fund infusion to stay afloat. There was a meeting of DOT officials and senior bankers on Friday on the issue of Vodafone, sources said, adding that banks have been asked to look for a solution within the prudential guidelines. According to sources, senior officials from the country's biggest lenders State Bank of India and Bank of Baroda were also present among others in the meeting. More such meetings are expected to take place in the coming days, they said.
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.
If you are considering pregnancy, it is advisable to meet with a healthcare provider to discuss your overall health, any pre-existing conditions, and any steps you can take to optimise your health before conceiving, advises Dr Kiran Coelho.
Punjab has over 400,000 employees and pensioners and about 125,000 staff members in its corporations and boards.
The framework also envisages amendments to the Prevention of Corruption Act to exempt commercial decisions by PSBs from scrutiny by investigating agencies. Both the amendments are likely in the monsoon session of Parliament.
Even though the powers of the board of directors stand suspended once a company's insolvency process begins, it does not absolve the directors from actions taken up to two years earlier.
"Do you want us to tell the doctors at AIIMS to stop the fetal heart?" the bench, also comprising Justices J B Pardiwala and Manoj Misra, asked the counsel appearing for the 27-year-old woman.
Modi also invoked Mahatma Gandhi and Buddha to urge the delegates to draw inspiration from India's civilisational ethos and "focus not on what divides us, but on what unites us."
Noted banker Deepak Parekh on Thursday pitched for simpler corporate governance norms that focus more on trust than just compliance, saying economics and ethics are not trade-offs but complementary. Behind each financial crisis there is a governance failure but it is the entire system that gets impacted, because an eruption of a corporate or financial crisis almost always means a tightening of rules and regulations and increased compliance for all, he said. The HDFC chairman, who was addressing a seminar on corporate governance organised by former Sebi chairman M Damodaran's advocacy Excellence Enablers in Mumbai, stressed that the ultimate objective should be that corporate governance systems must become simpler and not more complicated.
Reforms are key to India sustaining the pre-economic crisis growth rate of 9 per cent, United States Treasury Secretary Timothy Geithner said in New Delhi on Monday.
State-owned Punjab & Sind Bank is targeting salary accounts to boost the share of low-cost deposits. Swarup Saha, managing director and chief executive officer of the New Delhi-based lender, tells Manojit Saha that the bank may see gross non-performing assets (NPAs) fall below 8 per cent if there is resolution of the stressed assets.
Prime Minister Narendra Modi on Tuesday asked financial institutions to come out with innovative and futuristic financing as well as risk management ideas to fund the emerging needs of the economy. Stating that implementation of green financing is the 'need of the hour' to meet net-zero carbon emissions target by 2070, Modi said financial help should be extended to environment-friendly projects. "Our financing sector will have to look into new futuristic ideas, initiatives and think of innovative financing and sustainable risk management ideas," Modi said in a post-Budget webinar on 'Financing for growth and aspirational economy'.
Are you financially fit? Here's what it takes to maintain a sound financial health.
The family of the farmer from Rajasthan, who on Wednesday committed suicide at a public rally in the national capital, claimed that he took the extreme step due to "unexpected loss" of his crops.
The Reserve Bank could consider setting up of a Fraud Registry on the lines of Credit Information Bureau to check criminal activities in the financial sector.
According to the Indian Fireworks' Manufacturers' Association, the ban would wipe out sales of around Rs 600 crore during the upcoming Deepavali season.
Customers of stressed Punjab & Maharashtra Co-Operative Bank (PMC Bank) will not get up to Rs 5 lakh insurance cover in the first lot as the multi-state co-operative bank is under the resolution process. Deposit Insurance and Credit Guarantee Corporation (DICGC) in the first lot will pay customers of 20 stressed banks except PMC Bank. For the first lot, the mandatory 90 days period concludes on November 30.
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