Last fortnight, State Bank of India Chairman C S Setty lifted the veil on a subject long spoken of in corporate corridors: Why can't our banks finance mergers and acquisitions (M&As)? Change is in the air: Indian Banks' Association (of which Setty is the chairman) is to "make a formal request" to Mint Road to make way for it. Thus far the exclusive turf of foreign banks even though its funding remains offshore - as in, it's not on these entities rupee-book (and a few select shadow banks) - a most lucrative segment in the investment banking suite, M&As, will be homeward-bound.
Prime Minister Narendra Modi announced a Rs 1,600-crore assistance package for flood-hit Punjab after reviewing the damage. He also announced ex gratia for the deceased and injured. The state is battling its worst deluge since 1988.
The Shree Jagannath Temple Managing Committee (SJTMC) has formed a sub-committee, headed by former Lt Governor of Jammu and Kashmir, Girish Chandra Murmu, to suggest measures to ensure full protection of the temple in light of recent security breaches.
A tour bus crash near Buffalo, New York, has resulted in the death of five people, including an Indian national. The bus, carrying 54 passengers, was returning to New York City from Niagara Falls when the accident occurred.
Mixed views were expressed by top economists on the Reserve Bank of India's (RBI) Monetary Policy Committee's (MPC) decision to hold the repo rate at 5.5% and maintain a neutral stance. While some say the decision was as expected and one more rate reduction is expected this fiscal, there is also a view that rate cut by MPC was warranted given the evolving global situation.
As RBI governor, Sanjay Malhotra will have to give the highest priority to the interest of the economy while deciding on the growth-inflation trade off at Mint Street.
Heavy rains exacerbate the flood situation in Punjab, leading to 37 deaths and widespread crop damage. Rescue and relief operations are underway as authorities issue alerts and provide assistance to affected populations.
A massive controversy is raging in Jammu and Kashmir after a plaque with the Ashoka emblem was vandalised in the Hazratbal shrine as parties on Saturday accused Waqf Board chief Darakshan Andrabi of hurting religious sentiments by using the national emblem in the mosque and demanded registration of a criminal case and her immediate removal.
Over 5,000 people have been evacuated from flooded areas in the Jammu region following heavy rains and flash floods. Rescue and relief operations are underway to restore essential services and provide assistance to those affected.
The National Democratic Alliance's vice presidential candidate C P Radhakrishnan was felicitated at a meeting of the ruling bloc's MPs in the presence of Prime Minister Narendra Modi and other Union ministers. He is expected to file his nomination soon.
Rajiv Pratap Rudy secured another term as Secretary (Administration) of the Constitution Club of India, defeating Sanjeev Balyan in a closely watched election that saw participation from prominent political figures.
ICICI Bank has reversed its decision to raise the minimum monthly average balance (MAB) for new savings accounts in metro and urban locations to Rs 50,000, revising it instead to Rs 15,000, effective August 1. The MAB for new savings accounts in semi-urban locations has been revised from Rs 25,000 to Rs 7,500, and for rural locations from Rs 10,000 to Rs 2,500.
The Kerala High Court questioned the suspension of a university registrar who cancelled a program where a 'Bharat Mata' portrait was displayed, sparking a debate over religious symbols and law and order.
The Supreme Court has agreed to reexamine the case of a death row convict punished for raping and killing a minor in 2008, focusing on whether sentencing guidelines were properly followed.
'Challenge is basically near-term growth as the outlook has turned a bit adverse.'
The Raj Bhavan issued the statement hours after Sivankutty walked out of a state government event at Raj Bhavan, protesting against the display of a 'Bharat Mata' image, based on a claim that it was widely used in RSS functions, during the programme.
Since February 2025, the RBI has reduced the policy rate by 100 basis points. In its previous policy review in June, it had trimmed the repo rate by 50 basis points to 5.5 per cent.
Three Central Reserve Police Force (CRPF) personnel were killed and 15 injured when their vehicle skidded off the road in Jammu and Kashmir's Udhampur district.
Bihar Governor Arif Mohammad Khan on Thursday frowned upon questions being raised, in a section of the media, over his meeting with Rashtriya Janata Dal president Lalu Prasad Yadav, hours before his swearing in.
'The EPS camp feels assertiveness will help the AIADMK keep the BJP's seat-share ambitions to the minimum,' observes N Sathiya Moorthy.
The multi-agency search operation to trace 33 missing persons in cloudburst-hit Kishtwar district in Jammu and Kashmir has entered its eighth day. The death toll stands at 65, and rescue efforts are ongoing with the help of multiple agencies and heavy machinery.
The Indian services sector growth touched an 11 month high in July, supported by a pickup in new exports orders and sharp rise in overall sales, a monthly survey said on Tuesday. The seasonally adjusted HSBC India Services PMI Business Activity Index was at 60.5 in July, little-changed from 60.4 in June, and the rate of expansion was the best seen since August 2024.
Several executives argue that UPI has the potential to grow tenfold, but warn that the absence of a monetisation model risks stagnating the real-time payments system, which has been recording all-time-high transaction volumes every year.
'Even if this Bill passes in Parliament, it will reasonably face judicial scrutiny. 'One can reasonably expect challenges in the Supreme Court questioning its Constitutional validity.'
New Delhi looks to be testing Omar's endurance with unconcealed glee, never feeling shy to bite whenever a moment comes its way. After all, ruling the country's only Muslim-majority UT/state has been the BJP's burning desire, points out Mohammad Sayeed Malik, the distinguished commentator on Kashmir affairs.
The transmission of the February and April rate cuts is now complete, validating the central bank's monetary stance and contributing to a revival in credit growth, said Reserve Bank of India (RBI) Governor Sanjay Malhotra on Friday. "We now have preliminary figures for June credit rates, and we find that for new loans, the rates are lower by at least 50 basis points (bps)... within two months of our 50-bp cut, we are in June, and the whole of the monetary policy transmission has happened.
Kerala has become the first state in India to achieve complete digital literacy, according to Chief Minister Pinarayi Vijayan. Over 2.5 lakh volunteers contributed to this milestone, which included people of all age groups. The state plans to launch the second phase of the project soon, making all personal documents available in DigiLockers.
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.
Opposition parties are expected to announce their joint vice-presidential candidate, potentially leading to a 'south versus south' contest. Meetings and discussions have been held to finalize the candidate, with names from Tamil Nadu being considered. The opposition aims to field a non-political figure with national standing.
ISRO Chairman V Narayanan announced the development of a massive rocket capable of placing 75,000 kg payloads in low earth orbit, highlighting India's growing space capabilities and future satellite launches.
Four senior Indian-origin persons were killed in a car crash in West Virginia. The victims were reported missing from Buffalo, New York, and their vehicle was found off a steep embankment.
Nepal's claim on Lipulekh and Kalapani reopens a 200-year-old border dispute, while historical maps and treaties show the area belongs to India, asserts Lieutenant General Shakti Gurung (retd).
The stage is set for a direct contest between NDA nominee C P Radhakrishnan and joint opposition candidate B Sudershan Reddy for the September 9 vice-presidential election. Nominations have been scrutinized and accepted.
Instead, they argue, three actors shaped the division, "Jinnah, who demanded it; the Congress, which accepted it; and Mountbatten, who formalised and implemented it."
The government on Monday appointed Revenue Secretary Sanjay Malhotra as the 26th Governor of the Reserve Bank of India. The Appointments Committee of the Cabinet cleared Malhotra's name, who has been appointed as the RBI Governor for three years, starting Wednesday. Malhotra, a 1990 Batch Rajasthan Cadre IAS Officer, will replace Shaktikanta Das, whose tenure ends on Tuesday (December 10, 2024).
Chief Justice of India (CJI) B R Gavai on Saturday said he will do consultation and arbitration after his retirement, and will not accept any government post.
Former Supreme Court judge B Sudhershan Reddy is the joint candidate of the Opposition parties for the Vice-Presidential polls, Congress President Mallikarjun Kharge announced.
'Anybody who says one critical word can be branded as somebody who's glorifying terrorism.'
The editorial came amidst the ongoing tussle between Arlekar and the Marxist party-led Left Democratic Front government over the usage of 'Bharat Mata portrait' during official functions being held in Raj Bhavan.
Vice President Jagdeep Dhankhar's resignation has triggered the search for his successor. The BJP-led NDA is expected to consider probable candidates soon.
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