Barely days after imposing a 40 per cent export tax on onions to cool down soaring prices, which, in turn, triggered widespread protests across the main growing belts, the Centre on Tuesday sought to mitigate both political and economic tensions gripping parts of Maharashtra. It decided to procure an additional 200,000 tonnes of onions at Rs 2,410 per quintal for its buffer stock from farmers, a rate that is strikingly close to the price at which they were being exported before the 40 per cent duty was levied on August 19. The export price before the imposition of the duty stood at around $320 per tonne free on board (approximately Rs 2,650 per quintal).
The NDB will have an initial authorised capital of $100 billion.
The deadline for officers to decide on their career path in the biggest organisational rejig in the central bank's 85-year history ends on January 31. The immediate fallout could be its disruptive impact on the supervisory process for 2020 -- and beyond -- given the manpower shortfall, even as more entities are set to come under closer central bank scrutiny.
The Lok Sabha elections in 2024 are not a consideration when it comes to monetary policymaking, said Reserve Bank of India governor Shaktikanta Das to underscore the central bank's commitment to controlling inflation. "It's not possible for me to comment what we do in the next MPC (Monetary Policy Committee), but one thing I can tell and I would like to make it very clear-that the fact of elections coming up in 2024 is not a factor at all so far as monetary policymaking is concerned. "Monetary policymaking is for checking (and) controlling inflation," Das said at the Business Standard, BFSI Insight Summit.
The entire operation was meant to have a chilling effect on independent journalists, those not completely subservient to the regime, the small section still doing what the Fourth Estate should do -- raising questions to those in power.
'Farmers are like living corpses in India.'
The development comes after after reaching a consensus in the 16th round of military talks, the two sides said in a joint statement this evening.
It was the second time in the last three days that India asserted that the relationship with China depends on the resolution of the pending issues in eastern Ladakh.
These include Goldman Sachs, HSBC, UBS, Deutsche Bank, Barclays, RBS, Citigroup and JP Morgan and they have said in their respective regulatory filings that they are cooperating with the relevant authorities in the investigations.
'We have not seen too many large deals compared to last quarter.'
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
The Reserve Bank of India (RBI) is planning to introduce plastic currency notes as an experiment in five cities.
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
The MEA said there has not been any change in India's position on the LAC and the mutual redeployment as a result of the disengagement process should not be misrepresented.
Like China, India too should connect the dots and move ahead with a long-term perspective in Afghanistan, advises Ambassador M K Bhadrakumar.
Jail inmates produced goods generating gross sales worth Rs 223.4 crore in 2020, according to the government's annual Prison Statistics India report. The amount ranks at 496th place if compared with the latest net sales numbers of S&P BSE 500 companies, reports Sachin P Mampatta.
'Which fund manager in the world will put money into a company that hasn't filed its annual account?'
Prime Minister Narendra D Modi's itinerary for his June 21-24 US visit could include an address to a fledgling business advocacy group, the US-India Strategic Partnership Forum.
A fresh PIL was filed on Thursday in the Supreme Court seeking a probe by multiple central government agencies under the supervision of a panel or a former apex court judge against the Adani Group of companies following allegations of fraud and share price manipulation made by the US-based Hindenburg Research.
'RuPay' is developed by National Payments Corporation of India.
The Ministry of External Affairs said the two ministers discussed the outstanding issues related to disengagement from all friction points along the Line of Actual Control in eastern Ladakh.
The talks till now have resulted in the resolution of issues in North and South Bank of Pangong Tso, Galwan and Gogra Hot Spring areas.
India and China on Friday held 'in-depth' discussions on addressing the remaining issues along the Line of Actual Control (LAC) in eastern Ladakh, holding that disengagement in the North and South banks of Pangong lake provided a good basis to work towards their early resolution.
The summit is also being attended by Pakistan Prime Minister Shehbaz Sharif, Iranian President Ebrahim Raisi and leaders of several central Asian countries.
To tighten its focus on curbing money laundering activities, the Reserve Bank of India has now asked cooperative as well as regional rural banks to tweak their reporting mechanism to help agencies track all suspicious financial transactions.
Jaishankar also said that there is a need to take the disengagement process forward.
India will have the presidency of the BRICS' $100 billion New Development Bank for six years with headquarters in China that will become operational in about two years, a major step for reshaping the international financial system dominated by the West.
If the visit takes place, it will be the first trip by a senior Chinese leader to India after the eastern Ladakh standoff between the two countries began in May 2020.
State-run Bank of Baroda and Oriental Bank of Commerce are among those facing scrutiny.
The official told the reporters during a conference call on Friday, ahead of the next week's 2+2 India-US Ministerial in New Delhi, that the Trump administration was providing support to India through defence sales, joint military exercises and information sharing.
Indian banks operating there are required to meet very high qualifying standards in order to do business.
Does the Union government or the RBI see itself as Krishna beheading Shishupal and what will constitute the 101st or indeed the past many sins for which a Sudarshan Chakra will have to be used? More importantly, what are those sins?
India and Italy inked 15 pacts and finalised an ambitious action plan to further expand their ties following a virtual summit between Prime Minister Narendra Modi and his Italian counterpart Giuseppe Conte that primarily focused on ramping up economic engagement.
Hitting back at Prime Minister Narendra Modi for his corruption jibe at the Opposition, Congress president Mallikarjun Kharge on Wednesday accused him of running a "bhrashtachari bhagao abhiyan" (make the corrupt flee campaign), and said that he must stop his image makeover by posing as an anti-corruption crusader.
Chinese Foreign Minister Wang Yi arrived in India Thursday evening in the highest-level visit between the two countries after the ties came under severe strain following the eastern Ladakh standoff nearly two years ago.
South Africa's Deputy International Relations and Cooperation Minister Marius Fransman said this would give a major boost to some of the development needs of these countries.
Several factors seem to have corrected in India in the past six months, says the president of New Development Bank.
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