Noting that he fully respects the Supreme Court order on electoral bonds, Union Home Minister Amit Shah on Friday said the scheme was introduced to end black money in politics and added that it should have been improved rather than scrapped.
The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US, suggests M Govinda Rao.
Chastising the State Bank of India, the Supreme Court on Monday ordered it to disclose the details of the electoral bonds encashed by political parties to the Election Commission by the close of the business hours on March 12 and warned the country's largest public sector lender that the court may proceed against it for 'wilful disobedience' if it failed to comply with its directions and deadlines.
The Supreme Court of India on Wednesday said the problem with electoral bonds scheme is that it provides for "selective anonymity" and "selective confidentiality" as the details are available with the State Bank of India (SBI) and can also be accessed by the law enforcement agencies.
Unless something changes, Mr Trump is a huge threat right now, which is perhaps not being recognised fully, cautions Debashis Basu.
Metreweli, 47, has been promoted from current role as Director General, or 'Q', responsible for technology and innovation in MI6 and has previously held a director-level role at MI5 - the UK's domestic security service.
Megha Engineering and Infrastructure Ltd made a number of electoral bond purchases close to the date of bagging crucial projects, including the all-weather Zojila tunnel that is being constructed at an estimated cost of Rs 4,500 crore in Jammu and Kashmir.
Retail investors could be hesitant to invest in floating rate savings bonds, as these specific bonds tend to be profitable only in a rising rate environment, according to market participants. The Reserve Bank of India has allowed subscriptions for floating-rate savings bonds, 2020, via retail direct - an online portal that enables individual investors to purchase government securities.
'Most tax notices arise not from wrongdoing, but from unintentional mismatch or ignorance.'
Justice Bhushan Ramkrishna Gavai, India's 52nd chief justice and its first Buddhist one, has played a key role in shaping the judicial landscape, penning about 300 verdicts, including landmark rulings on constitutional issues, liberty, and perhaps most important against the executive's 'bulldozer justice'.
>The Indian Army still uses old British-era names and recruits soldiers based on caste or region, which hurts national unity, argues Colonel K Thammayya Udupa (retd).
'A man with a gun commanded respect. I thought if I also got a gun, I could save my family. With this thought, I went to Pakistan and got training there'
The Enforcement Directorate on Friday detained Bahubali Shah, one of the owners of the leading Gujarati newspaper Gujarat Samachar, following a raid on their premises in Ahmedabad, sources said.
Foreign portfolio investors' (FPIs') net investment in the domestic debt market in October was the third highest during the current calendar year as foreign investors rushed to lock in higher returns amid global uncertainty and geo-political tensions, market participants said. FPI inflows in debt stood at Rs 6, 322 crore in October against Rs 768 crore in September, according to data on the National Securities Depository Limited (NSDL). Market participants said that the majority of the inflows were channelled through corporate bonds.
At interactions last week with senior officials from the Reserve Bank of India, select banks gave feedback on two key bond market concerns, namely, recent volatility in the rupee-dollar exchange rate and heavy losses incurred on floating rate government bonds due to a demand-supply mismatch, sources told Business Standard. The discussions were held ahead of the RBI's next monetary policy statement, scheduled on August 5. Indian banks are large holders of government securities because of a regulatory mandate to set aside a certain percentage of deposits in sovereign bonds.
'The cost of financing the fiscal deficit will decrease, as new passive investors join in.'
'Investors' decisions should reflect their financial goals, risk tolerance, and the amount of gold already present in their portfolio.'
'By uploading an intimate video on Facebook, the applicant (husband) has gravely breached the sanctity of the marital relationship. A husband is expected to honour the trust, faith, and confidence reposed in him by his wife, particularly in the context of their intimate relationship'
UN chief Antonio Guterres, US President Donald Trump, his Russian counterpart Vladimir Putin and Canadian Prime Minister Mark Carney were among scores of world leaders who offered condolences to the people of India in wake of the tragic plane crash in Ahmedabad on Thursday.
Investors not comfortable investing directly may take the mutual fund route, where they get exposure to a diversified portfolio of bonds.
Megha Engineering and Infrastructure, the little-known Hyderabad-based firm that in recent years won the prestigious Zojila tunnel deal among other projects, forayed into city gas and acquired a media group, was the second largest donor to political parties using electoral bonds.
A five-judge constitution bench of the Supreme Court is scheduled to commence hearing from October 31 a batch of pleas challenging the validity of the electoral bond scheme for political funding of parties.
Despite gross domestic product (GDP) growth being lower-than-expected for the July-September quarter, the six-member Monetary Policy Committee (MPC) may not cut the policy repo rate in the review meeting scheduled for next week due to high inflation in October, according to experts. "Consumer Price Index (CPI) inflation breaching the upper limit of the RBI's tolerance band in October (6.2 per cent year-on-year) is not a favourable backdrop for the MPC to commence the easing cycle, even as the growth outcome disappointed the MPC's expectations," said Shreya Sodhani, regional economist at Barclays, who expects the policy repo rate to be kept unchanged in the December meeting.
In his media statement following talks with his Croatian counterpart Andrej Plenkovic, Modi said both leaders agree that "terrorism is an enemy of humanity" and is inimical to forces that believe in democracy.
Banks reported muted treasury gains during April-June of FY25 (Q1FY25) following Reserve Bank of India's (RBI's) revised norms on investment portfolio effective from April 1, 2024, despite softening of government bond yields. "Banks have reported muted treasury gains during Q1 of FY25 despite softening of yields across the curve. "The main reason was change in the investment valuation and classification guidelines by the RBI.
Justice Bhushan Ramkrishna Gavai was on Wednesday sworn in as the 52nd Chief Justice of India.
Dealers say foreign investors are now taking keen interest in lower-rated corporate bonds, too
'So, they have taken away the word Waqf from the Bill.' 'It will now be known as the UMEED Act.'
A five-judge Constitution bench of the Supreme Court is scheduled to commence a crucial hearing from Tuesday on a batch of pleas challenging the validity of the electoral bonds scheme for funding political parties.
In a first, the New York State Senate has formally adopted a resolution honouring the Indian Constitution on the occasion of its 75th anniversary, recognising it as a guiding framework for India's ongoing progress as a nation and celebrating the country's democratic values.
The visitor returns not just with the jewel-like beauty of the country imprinted on the mind, the body rejuvenated by hot stone massages, but also with the captivating stories and myths that are built into every important structure -- whether a tourist magnet or an off-the-beaten track spot.
The National Council of Educational Research and Training (NCERT) has removed all references to the Mughals and Delhi Sultanate from its class 7 textbooks. The new textbooks, released this week, have been designed in line with the new National Education Policy (NEP) and the National Curriculum Framework for School Education (NCFSE) 2023, which emphasize incorporating Indian traditions, philosophies, knowledge systems, and local context into school education. The textbooks now include new chapters on ancient Indian dynasties, sacred geography, and government initiatives like Make in India and Beti Bachao, Beti Padhao. The revamp has been met with criticism from opposition parties who equate it with "saffronisation."
The electoral bonds scheme for funding political parties should not become a tool for "legitimisation of quid pro quo" between power centres and people who are benefactors of that power, the Supreme Court said on Thursday as it underscored the need for reducing the cash component in the electoral process.
Net profit of 19 listed banks is likely to decline by 4 per cent year-on-year (Y-o-Y) for the quarter ended March (Q4FY25) mainly due to pressure on net interest margins (NIM) as a result of rate cut by the Reserve Bank of India (RBI), according to analysts' estimates. Additionally, loan growth is expected to further slowdown amid low demand in certain secured products, stress in the unsecured segment, and a high cost to deposit (CD) ratio across the system.
The Reserve Bank of India's (RBI's) record surplus transfer to the government has raised hopes among bond traders that the government might reduce its gross borrowing for the current financial year (2024-25/FY25) by up to Rs 1 trillion. The RBI approved a dividend of Rs 2.11 trillion for the central government for 2023-24, marking an increase of roughly 141 per cent from 2022-23 (FY23). In addition, the contingency risk buffer has been raised to 6.5 per cent from the previous 6 per cent.
The Enforcement Directorate (ED) has earmarked assets worth about Rs 15,000 crore that will be restored to victims of real estate, Ponzi and other frauds across India during the current financial year. The agency has been "aggressively" initiating this provision for restitution since last year to ensure rightful claimants duped by financial crime get their dues. The ED has already restored Rs 31,951 crore worth of assets under this provision, including Rs 15,201.65 crore from 2019-21 in cases related to Vijay Mallya, Nirav Modi and the National Spot Exchange Limited (NSEL). The ED Director has issued directions to all regions to actively work on cases marked for restitution of assets worth Rs 15,000 crore during the financial year 2025-26.
Foreign investors have pulled out Rs 44,396 crore from Indian equities this month, driven by strength of the dollar, rising bond yields in the US, and expectations of a weak earnings season. This came following an investment of Rs 15,446 crore in the month of December, data with the depositories showed.
Chief Justice of India Sanjiv Khanna has recommended Justice Bhushan Ramkrishna Gavai as the next CJI. Justice Gavai, the second most senior Supreme Court judge, will become the 52nd CJI on May 14, 2024, after CJI Khanna's retirement on May 13. Justice Gavai has served on several important Constitution benches and has been a part of landmark verdicts, including the one upholding the Centre's decision to abrogate provisions of Article 370.
Holding that the electoral bonds scheme was not fool-proof, the Supreme Court said on Thursday that information about funds received by a political party is essential for voters to exercise their freedom to vote effectively.
The fiscal deficit for FY25 has been pegged at 4.8 per cent of GDP and at 4.4 per cent for FY26, Finance Minister Nirmala Sitharaman said on Saturday. Presenting the Budget 2025-26, she said net market borrowings are estimated at Rs 11.54 lakh crore for next fiscal year.
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