Reserve Bank of India Governor Raghuram Rajan took charge of India's central bank when the rupee seemed to be in a tailspin while the country was facing runaway inflation.
Moderating economic growth and easing inflation may prompt the Reserve Bank to halt interest rate hike in the upcoming mid-quarterly credit policy review later this month, according to analysts.
If Gupta had given Raj Rajaratnam information that Goldman Sachs was going to get an investment from Warren Buffet (and suppose, if Rajaratnam had not sold an already long position in Goldman stock based on this material, non-public information), would this have amounted to a criminal offence on Gupta's part?
The trial of Gupta, one of the most high profile Wall Street executives to be charged with insider trading, began in US District Court, Southern District of New York on Monday amid intense media glare.
Former Indian American Goldman Sachs director Rajat Gupta is facing trial in one of the most high profile cases of insider trading in the US that will likely see investment guru Warren Buffet and Arcelor Mittal Chairman Lakshmi Mittal as potential witnesses.
Sri Lanka-born billionaire Raj Rajaratnam's defence team on Wednesday told a US jury that his trading in Goldman Sachs was not based on insider information, but a great deal of research and discussion on the investment bank, especially during the financial crisis.
However UBS maintains a buy with a price target of Rs 280.
The rupee has been on northward-ho since July, after hitting a life-time low of 57.13 mid-June. Since the beginning of the year, the local currency has gained over 7 per cent, and still it is down 18 per cent from its pre-August 2011 highs.
Indian-American Rajat Gupta, former board member of Goldman Sachs and Proctor and Gamble, has rubbished charges of insider trading against him as "baseless" with his lawyer asserting that his conduct and integrity were "beyond reproach".
The Union Budget for 2011-12 comes at a critical juncture for the economy -- high inflation, tight liquidity, elevated fiscal and current account deficits, and a slowdown in the reform process have taken away the sheen from the India growth story.
Global private equity majors - Standard Chartered Private Equity and London-headquartered 3i - are understood to have shown keen interest to invest in the litigation-prone Rs 4,000 crore (Rs 40 billion) Bangalore-Mysore expressway being developed by Nandi Infrastructure Corridor Enterprise Limited (NICE).
The SEC however added that "dismissing these proceedings will not prevent the Commission from filing an action against Gupta in United States District Court."
A support group for Gupta, known as 'Friends of Rajat', has urged his 'friends and well-wishers' to submit letters of support, in which they should write about Gupta's life and work.
Google has emerged as top choice in the Top 100 Ideal Employer Rankings in a survey conducted among Indian management and engineering students.
Rajat Gupta was the former head of bluechip consulting firm McKinsey.
From a 29-year-old Goldman Sachs director to a graduate student developing energy conserving sensors, about 10 Indian-origin young turks have been named in a Forbes list of "tomorrow's brightest stars" who are "reinventing the world".
Importantly, after the interest rate rises by the Reserve Bank of India (RBI) in the recent past, there is a high probability of corporate India getting hit on profits.
Gupta filed a 70-page petition with the US Court of Appeals for the Second Circuit yesterday seeking 'panel rehearing and rehearing en banc', saying in 'rejecting two of his challenges to the exclusion of critical evidence in his case, the panel misapprehended several points' about the insider trading case against him.
The job cuts will begin this quarter and be completed 'over the next few quarters' across a range of businesses, Pandit said at a Goldman Sachs Financial Services conference in New York.
Goldman cut India's growth estimates to 6.6 per cent from 7.2 per cent for the fiscal year ending March 2013, while BofA revised its forecast to 6.5 per cent from 6.8 per cent.
The trial of former Indian-American Goldman Sachs director Rajat Gupta began in New York on Monday in what is the most high profile case of insider trading in US history.
Gupta's lawyer Gary Naftalis submitted in a Manhattan court on Tuesday his list of 10 witnesses he would 'most want to depose on behalf of Gupta.'
The idea of floating Formula One has been around for more than a decade but there appears to be real momentum on this occasion to sell off as much as 30 percent of the company.
John Dowd, Rajaratnam's lawyer, asked the jury why Rajat Gupta, 62, would risk his entire career and reputation for nothing.
He will be arraigned before US District Judge Jed Rakoff in the US District Court, Southern District of New York.
The third BRIC summit in Sanya, China, on Thursday will have a new member: South Africa.
The theme for this years conference is 'India: Gaining Momentum'.
Indian American Rajat Gupta, a former director at Goldman Sachs, had violated the firm's code of conduct by disclosing details from a 2008 board meeting to hedge fund manager Raj Rajaratnam, the main accused in the largest hedge fund insider trading case to hit US courts, the company CEO Lloyd Blankfein has testified.
Forbes has come out with a list of the world's 20 youngest billionaires under 40. Here we carry eight billionaires under 30 who made their fortunes by the virtue of inheritance and hard work.
Rajat Gupta, former director of Goldman Sachs and Mckinsey, has resigned from the board of the Hyderabad-based Emergency Management Research Institute (EMRI), a public-private-partnership initiative being run by the GVK group.
The FIR also said chairman of New Development Bank K V Kamath, Goldman Sachs India chairman Sonjoy Chatterjee, Standard Chartered Bank CEO Zarin Daruwala, Tata Capital head Rajiv Sabharwal and Tata Capital senior advisor Homi Khusrokhan need to be investigated.
The personal fortune of Facebook founder Mark Zuckerberg has doubled to $14 billion after his social networking site got a huge cash injection from Goldman Sachs.
Falling food prices notwithstanding, consumer inflation will remain high during the current fiscal because of high cost of housing and services as well as the increasing inflationary pressures from smaller cities, Goldman Sachs said in a report on Tuesday.
The Indian School of Business in Hyderabad is offering free management education to women entrepreneurs.
Investors became richer by over Rs 80,000 crore (Rs 800 billion) today as the benchmark indices rose over 1.7 per cent each on Goldman Sachs' upgrading Indian stocks and optimism that government will push through key economic reforms.
Negotiations that continued till 2009 eventually failed and the money could not be recovered.
The United States government appointed pay czar will review the executive compensation packages at 419 bailed out companies including Goldman Sachs and JP Morgan Chase.
Conventional wisdom is that when the US sneezes, emerging markets like India catch a cold. And yet the Indian stock market went up last year, points out Debashish Basu.
Five ratios you must know before putting your money into banking stocks.
With inflation down, the government's twin deficits are largely under control.
