'There are occasions when the prices of individual items like food raise inflation; then supply-side measures must be taken.' 'But if there is continued inflation, it means liquidity is aggravating the situation.'
Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.
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.
We must heed what the CJI has said. Challenging every judgment of the central government is inviting chaos, asserts Shreekant Sambrani.
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
Among Sensex shares, Bajaj Finserv fell the most by 4.08 per cent. Bajaj Finance declined by 3.01 per cent, Tata Steel by 2.2 per cent, Wipro by 2.09 per cent, Tata Motors by 1.96 per cent, IndusInd Bank by 1.9 per cent, SBI by 1.75 per cent, Tech Mahindra by 1.66 per cent and HCL Tech by 1.2 per cent. TCS, Infosys, Power Grid, Maruti, Reliance, HDFC twins, L&T, M&M, NTPC and Ultratech Cement were also among the losers.
The conspiracy with which Patel and Mohta are charged carries a maximum potential penalty of five years in prison and a $250,000 fine.
In an open letter, they appealed to her to convey their concerns to the Union government and caution them that the attempt to change the character of the civil services is fraught with extreme danger and will 'spell the death of the constitutional government in India'.
Shashank Rai, 30, allegedly sought millions of dollars in forgivable loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act from two different banks by claiming to have 250 employees earning wages when, in fact, no employee worked for his alleged business.
'India is an equity market with a breadth and depth of companies to invest in.'
The change means that Panghal, an Asian Games gold-medallist in 49kg, will now have to move to 52kg, while Thapa and Kaushik will have to forego the 60kg division and move up to the newly-created 63kg. Thapa is a three-time Asian Championships medallist and a world bronze-medallist, while Kaushik won a silver medal at the Commonwealth Games last year.
Indications are that the DMK combine will win more seats than the AIADMK and BJP, but is facing a tough fight in about half a dozen from the rest, predicts N Sathiya Moorthy of the electoral contest in Tamil Nadu.
Last year, the Indian Super League began on October 20 while the I-League started on November 30.
India and the US on Thursday said they are looking forward to the reconvening of the India-US Trade Policy Forum later this year to further enhance trade relationship and identify new areas for engagement.
Domestic equity investors' wealth eroded by more than Rs 4.43 lakh crore on Monday as fears of a financial contagion triggered by one of the biggest bank failures in the US roiled market sentiments. After a strong opening, Indian stocks went into a tailspin with the benchmark 30-share BSE Sensex tumbling nearly 900 points to close at 58,237.85 points -- sliding for the third straight trading session. The NSE Nifty too declined 258.60 points to end at 17,154.30 points.
... And what explains the directions of change? asks Ajit Balakrishnan.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
'As Rana is not an Indian citizen, our leverage on the US system -- whether it's their judiciary or the executive -- is very limited in that sense.'
The protesting wrestlers on Friday formed two committees to advice them on the future course of action
India's gymnastics ace Dipa Karmakar on Saturday said she accepted provisional suspension after returning positive for a banned drug to swiftly resolve her case with the international federation.
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.
'Continue with your SIPs to get the benefit of lower average prices in this challenging market environment.'
Kerala Governor Arif Mohammed Khan, Chief Minister Pinarayi Vijayan and Congress MP Shashi Tharoor were also present with the PM as he interacted with the students inside the train.
Former Mumbai Police Commissioner Sanjay Pandey appeared before the Enforcement Directorate (ED) in Delhi for the second day on Tuesday for questioning in a money laundering case linked to the alleged illegal phone tapping of NSE employees, officials said. This is the second consecutive day that the retired Indian Police Service (IPS) officer is being questioned by the federal probe agency in this case. Like Monday, the officer will continue to reply to questions on the business and operations of a firm floated by him for security audit of the National Stock Exchange (NSE) and his statement will be recorded under the Prevention of Money Laundering Act, they said.
By changing the nation's name from India to Bharat, would this landmass overnight lose the emotional and cultural linkage that had been built over generations, centuries and millennia, asks N Sathiya Moorthy.
The aircraft, which has been grounded since March following two fatal crashes which killed 346 on board, is crucial to Indian low-cost airline SpiceJet's fortune, which has up to 205 aircraft on order. With the grounding, the airline's capacity expansion plan is suffering.
Air India cancelled 14 flights on India-US routes from Wednesday onwards due to deployment of 5G internet in North America which could interfere with aircraft's navigation systems. Meanwhile, DGCA chief Arun Kumar told PTI that the Indian aviation regulator was working "in close coordination with our carriers to overcome the situation" that has arisen due to 5G internet's deployment in the US. US aviation regulator Federal Aviation Administration (FAA) had on January 14 said that "5G interference with the aircraft's radio altimeter could prevent engine and braking systems from transitioning to landing mode, which could prevent an aircraft from stopping on the runway".
After three consecutive years of infusing huge funds, foreign portfolio investors retreated from the Indian equity markets in a big way in 2022 with the highest-ever yearly net outflow of nearly Rs 1.21 lakh crore. The huge outflow, which surpasses by a big margin the previous record of Rs 53,000 crore net withdrawal in 2008, came amid aggressive rate hikes by central banks globally but 2023 is expected to be better on positivity about overall macroeconomic trends in India, experts said. Apart from global monetary tightening, volatile crude, rising commodity prices along with Russia and Ukraine conflict led to an exodus of foreign money in 2022.
Byju Classes' founder Byju Raveendran, Zomato co-founder Gaurav Gupta, CEO of Antara Senior Living, Tara Singh Vachani, Vinati Organics' MD & CEO Vinati Mutreja and Swapan Mehra, CEO of Iora Ecological Solutions are among 115 young leaders.
'In politics, not everything is spoken and there are a lot of messaging done very discreetly.'
Summary of sports events and persons who made news on Monday.
Elevated food price-led inflation could become a sore point for markets, which they seem to be ignoring at current levels, observe analysts. Retail inflation in India - as measured by the Consumer Price Index (CPI) - came in at a three-month high of 6.52 per cent in January 2023, compared with 5.72 per cent in December and 5.88 per cent in November 2022. The inflation print for February, according to Madan Sabnavis, chief economist at Bank of Baroda, will be critical for the Reserve Bank of India's monetary policy committee.
A summary of sports events and sports persons, who made news on Wednesday
The protesting wrestlers refrained from immersing their medals in the river Ganges after being convinced by Khap and farmer leaders who sought five days to address their grievances.
Billionaire philanthropist George Soros believes the turmoil at Gautam Adani's business empire may weaken Prime Minister Narendra Modi's hold on the government -- a statement which was strongly countered by BJP as an attack on Indian democracy.
Sports Minister Rajyavardhan Singh Rathore on Sunday said the Board of Control for Cricket in India could have ensured dope testing of the Indian cricketers by NADA but put the onus on WADA to make the Indian Board compliant of its Code.
West Bengal Chief Minister Mamata Banerjee on Monday wrote to Prime Minister Narendra Modi, requesting him to withdraw the Centre's order recalling Chief Secretary Alapan Bandyopadhyay, and said her government 'is not releasing' the top bureaucrat.
The Biden administration has proposed a massive hike in immigration fees, including the much sought-after H-1B visas for high-skilled foreign workers, which is very popular among Indian tech professionals. Under the proposed rule, published by the US Citizenship and Immigration Services (USCIS) on Wednesday, the application for the H-1B visa increases from $460 to $780, and L-1 from $460 to $1,385. The application fee for O-1 visas has been proposed to increase from $460 to $1,055.
The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise.
"As associate attorney general, the number three job at the department, I nominate Vanita Gupta. A woman I've known for some time. One of the most respected civil rights lawyers in America," Biden told reporters in Wilmington, Delaware as he announced some of the key nominations in the Justice Department on Thursday.
