India and China have agreed to rebuild ties and resume people-to-people exchanges, including resuming direct flights and the Kailash Manasarovar Yatra this year. The two countries also discussed the resumption of dialogue mechanisms to address each other's concerns and move relations to a more stable path. The meeting comes after a period of strained relations following the Galwan Valley clashes in 2020.
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
India and China celebrated the 75th anniversary of their diplomatic relations on Tuesday, with leaders from both countries exchanging congratulatory messages. The anniversary comes as the two countries are working to restore ties after a four-year freeze due to the military standoff in eastern Ladakh. Both countries have expressed a willingness to enhance strategic mutual trust and step up cooperation in various fields. The two sides are also exploring ways to rebuild ties and promote people-to-people exchanges.
India and China held diplomatic talks in Beijing, focusing on effective border management and the resumption of cross-border cooperation and exchanges, including on trans-border rivers and the Kailash-Mansarovar Yatra. The meeting explored measures and proposals to implement decisions made during the Special Representatives (SR) dialogue in December. Both sides agreed to work together for the next SR meeting in India later this year.
'Indian private universities can provide world-class education at one fourth the cost, home comforts, and direct links to Indian and global industries.'
Tina Ambani, wife of Reliance ADA Group chairman Anil Ambani, on Tuesday appeared before the Enforcement Directorate (ED) in Mumbai for questioning and recording her statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Anil Ambani had recorded his statement in the case on Monday under sections of the Foreign Exchange Management Act (FEMA) and he is expected to appear before the central agency again later this week for completion of the exercise.
Indian students at Harvard, on condition of anonymity, shared their concerns and experiences of the last few months during which the prestigious university has seen relentless attacks by the Trump administration.
China on Tuesday called for a 'comprehensive and lasting ceasefire' between India and Pakistan, urging both countries to properly handle their differences through dialogue.
Drawing lessons from security protocols of Parliament, the state is working closely with agencies like the Defence Research and Development Organisation and the Electronics Corporation of India Ltd to design a multi-layered safety mechanism.
In the talks, China emphasised that the two sides should proceed from the fundamental interests of China, India and adhere to the strategic height and long-term perspective of China-India relations, the readout said.
China's military has said it is willing to work with India to find a solution to the border issue, while also pushing for sound and stable defence ties. The statement comes after recent meetings between officials from both countries to normalize relations following a prolonged period of tension.
Adani Group chairman Gautam Adani has reaffirmed Adani Enterprises' ambitions for aggressive expansion, committing to invest up to $20 billion annually over the next five years. "Our capital investment across businesses is set to break all records.
The government is planning to introduce legislative changes to the Foreign Exchange Management Act (Fema) regulations, with a focus on easing the pathway for inflows from a foreign portfolio investor to transition seamlessly into foreign direct investments (FDI) once the FPI surpasses the 10 per cent ownership threshold in a company. This move stems from multiple requests by foreign investors seeking to streamline the reporting requirements that arise when their stakes in Indian firms cross the 10 per cent mark.
The Indian government has appointed Finance Secretary Tuhin Kanta Pandey as the new chairman of the Securities and Exchange Board of India (SEBI). Pandey, a 1987-batch IAS officer, will replace Madhabi Puri Buch, whose three-year tenure ends on February 28. Pandey's appointment comes at a time when the markets are experiencing bear pressure due to withdrawals by foreign institutional investors (FIIs). Pandey has extensive experience in the finance ministry, having served as the longest-serving secretary in the Department of Investment and Public Asset Management (DIPAM) and the Department of Public Enterprises (DPE). He also played a key role in the framing of the 2025-26 Budget and the drafting of the new Income Tax Bill. Pandey's appointment is for an initial period of three years.
British broadcaster BBC has communicated to the income-tax department that some of its past income, for its operations in India, could have gone unreported during the statutory filing of returns and hence it would like to amend it, official sources said on Wednesday.
Main imports from the neighbouring country during April-January 2024-25 included fruits and nuts (USD 0.08 million), certain oil seeds and medicinal plants (USD 0.26 million), and organic chemicals.
India is preparing to resume the Kailash Mansarovar Yatra, a pilgrimage to Mount Kailash in Tibet, after a three-year hiatus. The decision comes as part of efforts to improve relations between India and China, which have been strained since a military standoff in 2020. The two countries have also agreed in principle to resume flight services between them.
In November last year, an indictment was unsealed in the United States District Court for the Eastern District of New York, charging prominent Indian executives, including Chairman of the Adani Group, Gautam Adani, by linking them to an alleged bribery scheme.
From the Sensex firms, Mahindra & Mahindra, HCL Tech, Tata Motors, Nestle, ITC, Hindustan Unilever, Larsen & Toubro, and Tech Mahindra were the biggest gainers. In contrast, Eternal, UltraTech Cement, Power Grid, Tata Steel and Kotak Mahindra Bank were among the laggards. Eternal dropped 4.51 per cent.
'The Alaska Summit made me realise that while difficult, peace is within reach.'
Chinese smart devices firm Xiaomi's India head Muralikrishnan B has resigned from the company to pursue his interest in academic research, the company said on Monday. He will continue to support Xiaomi India as an independent Strategic Advisor, the company said. "Muralikrishnan B, the current President of Xiaomi India, will be transitioning out of his role at the end of the year.
The department of homeland security withdrew Harvard certification under the Student and Exchange Visitor Programme, effectively barring the university from admitting new foreign students and threatened the legal status of current international enrollees.
The Reserve Bank of India has brought 100 metric tonnes of gold reserve from the UK to India as there is enough domestic storage capacity, and nothing more should be read into it, Governor Shaktikanta Das said on Friday. The RBI moved 100 metric tonnes of its gold stored in the UK to domestic vaults in FY24.
'Such unpredictability is motivating families to seek destinations with a more stable educational system.'
Vijay Bhaskar will move to Bangalore as regional director.
Krish Lal Isserdasani is an engineering student at the University of Wisconsin-Madison, the Milwaukee Journal Sentinel reported.
Seasoned bureaucrat and a stickler for rules Finance Secretary Tuhin Kanta Pandey will be at the helm of capital market regulator, Securities and Exchange Board of India (SEBI), for three years. The 1987-batch Odisha-cadre Indian Administrative Service (IAS) officer, Pandey, would replace Madhabi Puri Buch, whose three-year term ends on Friday.
This was part of a set of clarifications issued by DIPP on the norms to be used to treat downstream investments by Indian companies which have foreign equity, termed Press Note 4. Investing company means an Indian one holding only investments in other Indian companies. Foreign owned or controlled means either having foreign ownership in excess of 50 per cent or non-residents having powers to appoint a majority of board members.
The Reserve Bank on Monday asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. Before putting in place this mechanism, banks will require prior approval from the Foreign Exchange Department of the Reserve Bank of India (RBI), the central bank said in a circular. "In order to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in INR, it has been decided to put in place an additional arrangement for invoicing, payment, and settlement of exports / imports in INR," it said.
The Insurance Regulatory and Development Authority of India (Irdai) has asked at least 10 general and life insurance companies to submit a detailed road map for their listing strategies by the end of this month, according to multiple sources with direct knowledge of the matter. "The regulator met four life and six general insurers last month and asked them to provide their listing strategies by the end of February," said one of the sources.
Even as the Income Tax department is probing the financial dealings of the money-spinning Indian Premier League, the Enforcement Directorate (ED) will look into the alleged murky international deals of the Twenty20 tournament. Official sources said the Mumbai wing of the ED had conducted a discreet inquiry into the finances of Rajasthan Royals in 2008 and had prepared a report of alleged Foreign Exchange Management Act (FEMA) violations.
A trends study conducted by India's Financial Intelligence Unit (FIU) has expressed suspicion that cryptocurrency is being used across the country in serious criminal acts like terrorist financing, fuelling secessionist activities, cybercrime, narcotics trafficking, illegal betting and gambling. The report, which was based on suspicious transaction reports and operational analysis, shared these trends and credible intelligence with law enforcement agencies.
All entities operating in India must fully comply with relevant laws, External Affairs Minister S Jaishankar Wednesday told his British counterpart James Cleverly, who raised the BBC tax surveys issue during a meeting with him.
The Reserve Bank of India (RBI) is expected to cut interest rates for the first time in nearly five years in Governor Sanjay Malhotra's first monetary policy committee (MPC) meeting on Wednesday. The meeting of the six-member MPC, which will culminate on Friday, aims to boost sluggish economic growth, which is seen falling to a four-year low. Malhotra took charge as the 26th RBI governor in December last year.
The meeting was attended by Sebi executive director Usha Narayanan, Sebi wholetime member Prashant Saran and Reserve Bank chief general manager foreign exchange department Salim Gangadaran among others.
'He will be remembered more for what he did as finance minister -- as someone who functioned well when the political fallout was taken care of.'
India and China on Monday decided to resume the Kailash Mansarovar Yatra as the two sides agreed to take certain people-centric steps to 'stabilise and rebuild' ties.
The regulatory gap between crypto firms registered with the Financial Intelligence Unit-India (FIU-India) and unregistered offshore entities is expected to narrow, industry players said, after global crypto players Binance and KuCoin received approvals to register with India's anti-money laundering unit.
The Centre is unlikely to offer new direct tax incentives for units operating in special economic zones (SEZs) and may instead allow the grandfathering of previous exemptions that such units were entitled to, according to proposed amendments to the SEZ Act, 2005, people aware of the matter said. The amendments, proposed by the commerce department, will soon be considered by the Cabinet for approval. This represents a departure from the department's earlier plan to introduce these changes through the Development Enterprises and Services Hubs (DESH) Bill, 2023, which faced strong criticism from the ministry of finance.
An official said the SIT will examine if the money was used on any illegal activities, like terrorism or forcible religious conversion.
