Israel Weapons Industries (IWI) has delivered the first batch of NEGEV 7.62x51 light machine guns to India under the 'Make in India' initiative, marking a significant step in India-Israel defence cooperation and indigenous defence manufacturing.
During the financial year 2025-2026, the defence ministry has signed a total of 182,492 crore capital acquisition contracts, highlighting the government's push to modernise the armed forces and promote indigenous defence production.
The RBI seems to be acknowledging that all deposits are not equal -- a deposit with a lower run-off assumption is inherently more valuable than one that could disappear overnight, points out Tamal Bandyopadhyay.
The Indian Army is equipping its infantry battalions with drone platoons and raising elite commando units as part of a modernization drive to enhance combat capabilities along the northern and western frontiers. The Army is also procuring new carbines and upgrading its arsenal with advanced weaponry.
The company will raise $1.8 billion for the under construction and contracted portfolio of 12 GW, which includes the country's first manufacturing-linked solar power plant of 8 GW.
If you have availed a home loan from an NBFC, you can shift your existing home loan to a bank and benefit from the MCLR regime, suggests Ratan Choudhary, head - home loans, Paisabazaar.com.
Shifting to floating rate deposits can work as an anaesthetic gel for some customers, points out Tamal Bandyopadhyay.
Bankers are worried the new model will affect their business of giving short-term loans to corporate clients at cheaper rates (sub-PLR loans) as lending rates on such loans will go up at least by 2 per cent in the base rate system.
The Reserve Bank working group, constituted to revisit benchmark prime lending rate (BPLR), is likely to recommend two types of PLRs and may put a ceiling on banks' sub-PLR lending, a source said.
Currently, banks follow system of internal benchmarks, including Prime Lending Rate, Benchmark Prime Lending Rate, Base rate and Marginal Cost of Funds based Lending Rate.
The bank will give 3.25 per cent interest on savings bank deposits with a balance exceeding Rs 100,000. At present, the interest rate is 3.5 per cent.
The final guidelines to link the interest rate to external benchmarks will be issued by the end of this month
None of the four benchmarks suggested by the RBI is ideal as banks in India create loan assets from their deposits and not borrowing from the regulator or market, says Tamal Bandyopadhyay.
Senior bankers are trying to impress upon the central bank that the shift to external benchmark-linked lending be postponed to April 1, 2020.
In putting the country's economy back on the rails, it is best that Narendra Modi and Arun Jaitley draw on grass-roots feedback and their own practical sense and native wisdom without allowing themselves to be sucked into the quicksand of economic punditry, says B S Raghavan.
