The Reserve Bank on Wednesday hiked key benchmark policy rate by 25 basis points to 6.5 per cent, citing sticky core inflation. This is the sixth time interest rate has been hiked by the Reserve Bank of India (RBI) since May last year, taking the total quantum of hike to 250 basis points. Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) by a majority decided to raise the policy repo rate by 25 basis points and keep a 'strong vigil' on inflation outlook.
Modi had released the first batch of eight eight spotted felines -- five females and three males -- from Namibia into a quarantine enclosure at Kuno on his 72nd birthday on September 17 last year.
LIC public offer will remain open for subscription even on weekend to enable people to participate in the mega IPO of the state-owned insurer. This is perhaps for the first time the special dispensation is granted to any public offer. The issue period also includes bidding on Saturday, May 7, 2022 and Sunday, May 8, 2022, LIC informed exchanges. Earlier bidding was allowed on May 7 (Saturday) only.
LIC's public offer, the country's biggest-ever IPO, saw the policyholders' portion being oversubscribed on the first day itself on Wednesday, though overall subscription stood at just 66 per cent. The government aims to generate about Rs 21,000 crore by selling 3.5 per cent stake in the insurance behemoth. The LIC initial public offering (IPO), open for retail and institutional investors, is set to close on May 9. The issue period also includes bidding on Saturday, May 7.
Patel also said that although he had taken up the issue of his harassment with Congress leader Rahul Gandhi many times, no action has been taken to address his grievances.
The Indian financial services space seems to be in a sweet spot as foreign investors have made a net investment of Rs 14,205 crore ($2.1 billion) in the sector in November amid strong credit growth and manageable non-performing loan portfolio. The investment comes following a net withdrawal of Rs 4,686 crore from financial services stocks in October on account of profit booking. Overall, foreign portfolio investors (FPIs) have made a net investment of Rs 36,238 crore in the country's equity markets in November.
The bull run in the Indian equity markets is intact, said analysts at Morgan Stanley in a recent note. They expect the S&P BSE Sensex to hit 80,000 levels by December 2023 in their bull-case scenario, to which they have assigned a 30 per cent probability. From the current level, this translates into an upside of nearly 29 per cent.
When he didn't respond (Mr Saver has lost count of how many relationship managers he has had in the past few years!), the gentleman landed up at his doorstep and started pleading with him to open fixed deposits with the bank, observes Tamal Bandyopadhyay.
With time on his side, that Hardik Patel will one day occupy the top spot in Gujarat is a no-brainer. But the BJP doesn't like rabble-rousers.
'The Maratha versus OBC friction will increase. A huge chunk of the Shiv Sena's social base consists of OBCs.' Dhaval Kulkarni reports.
The contentious anti-conversion bill was cleared by the Karnataka Cabinet on Monday and it is most likely to be tabled in the legislative Assembly on December 21, official sources said.
When a former police constable was appointed Gujarat unit chief, everyone was surprised. Now workers are laying bets on when he will be elevated to the Union Cabinet, notes Aditi Phadnis.
What is the effect of the report of a commission of inquiry that has been rejected or not accepted by the government, and whether the empirical data which formed the basis of the report can be looked at while determining a constitutional issue, the Supreme Court wondered on Wednesday while considering the question of quotas for Dalit Muslims and Dalit Christians.
Besides high portfolio yield, investors may enjoy capital gains in debt funds in 2023 as bonds rally in anticipation of rate cuts.
Global disinflation has finally caught up with India's high-cost economy.
Former Bihar chief minister and BJP ally Jitan Ram Manjhi alleged on Wednesday that five MPs, including a Union minister, have been elected to Lok Sabha from seats reserved for the Scheduled Castes on the basis of "forged" certificates and sought an inquiry.
It is unusual in democratic countries two decades into the 21st century for laws to become regressive instead of progressive. But that is clearly what is happening in India today and more of this is ahead, asserts Aakar Patel.
Opposition leaders urged Modi to use the opportunity for the country's benefit.
Maharashtra cooperation minister Harshvardhan Patil on Friday suffered an eye injury after some activists from Dhangar community threw ink at him at a function at Bhigwan Pune's Indapur tehsil.
PWD Minister Ashok Chavan later told reporters that the application was filed on Monday morning and added the counsels representing the government will try to see that the hearing on the application takes place soon.
Amid opposition Congress's protest and walkout, the Karnataka legislative assembly on Wednesday okayed the anti-conversion bill, passed by the legislative council last week with minor amendments, that seeks to replace the ordinance that was in place to give effect to the bill.
The Reserve Bank of india is likely to tell state-run United Bank of India (UBI), which has seen erosion of capital due to bad loans and higher provisioning to implement prompt corrective action.
Social Justice Minister Thaavarchand Gehlot sought to allay doubts raised by several opposition members about the legislation's fate if challenged in the Supreme Court, saying he can say with confidence that the apex court will accept it.
Policy decisions, particularly those which have wide-ranging implications on the nation's health and security, should be decided by bodies best suited to do so, the Delhi high court said on Monday while refusing to interfere with the Agnipath scheme.
India's services sector activity witnessed a sharp upturn in August on the back of stronger gains in new business, ongoing improvements in demand conditions and job creation, a monthly survey said on Monday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from July's four-month low of 55.5 to 57.2 in August, amid a quicker upturn in business activity and the sharpest rise in employment for over 14 years. For the thirteenth straight month, the services sector witnessed an expansion in output.
Senior Rashtriya Swayamsevak Sankh leader Indresh Kumar favoured the Karnataka government's proposal to bring a law against forced conversions in the state.
As real estate investment trusts (REITs) are set to become a reality in the country, small and medium property developers, who constitute 80 per cent of the total realty industry, can now breathe easy.
Former RBI governor Raghuram Rajan on Monday said the central bank will have to raise interest rates to tame inflation and the hikes need not be considered by politicians and bureaucrats as some "anti-national" activity. Known for his frank views, Rajan also said it was important to remember that the "war against inflation" is never over. "Inflation is up in India. At some point, the RBI will have to raise rates, like the rest of the world is doing," he said in a LinkedIn post.
Bommai rejected all the key infrastructure related proposals of Kerala, saying it will damage the eco-sensitive zones and wildlife sanctuaries.
The government said that the panel has recommended that family income is a "feasible criterion" for defining EWS and in the current situation, a threshold of Rs 8 lakh of annual family income seems reasonable for determining EWS.
'It will be best for investors to have a systematic investment plan in mid-cap and small-cap funds with a three-/five-year horizon.'
The Delhi high court on Monday refused to stay the Centre's order dismissing Satish Chandra Verma, a senior IPS officer who had assisted the CBI in its probe in the Ishrat Jahan fake encounter case, a month before his scheduled retirement.
With organisations like the Bharatiya Mazdoor Sangh, which is a front of the Rashtriya Swayamsevak Sangh, telling Finance Minister Nirmala Sitharaman they want OPS back, the government is in a bind, report Shiva Rajora and Aditi Phadnis.
The country's largest housing finance company HDFC Ltd will merge with the country's largest private sector lender HDFC Bank, according to a regulatory filing. The scheme of amalgamation will be subject to various regulatory approvals, including from the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi), HDFC Bank said in the filing on Monday.
Fast bowling may be hard work in India but it's good to see talented youngsters like Basil Thampi emerging in recent times, legendary Australia cricketer Glenn McGrath said on Monday.
Sri Lankan government on Monday admitted that it has run out of cash to buy fuel as pumps in most filling stations across the country have run dry, exacerbating the deepening foreign-exchange crisis that has crippled the island nation's economy.
The Reserve Bank is working on a phased implementation strategy for its own digital currency and is in the process of launching it in wholesale and retail segments in the near future, RBI Deputy Governor T Rabi Sankar said on Thursday. He said the idea of Central Bank Digital Currency (CBDC) is ripe, and many central banks in the world are working towards it. Sankar further said CBDC is needed to protect consumers from the "frightening level of volatility" seen in some of the virtual currencies which have no sovereign backing.
The present happenings in Manipur are the wages of continued neglect, and not so benign at that, of a vital region and its people. Had we lavished on the North East even a fraction of the care and resources we do on Kashmir, things would not have come to this pass, asserts Shreekant Sambrani.
TMFs invest in a public index, so investors know beforehand which instruments the fund will invest in.
It is not unlikely that ahead of the Lok Sabha elections, the BJP government comes up with more imaginative schemes aimed at constituency-building. The party under Modi's leadership has a more modern thinking in such matters unlike its rivals, which are still steeped only in ideology, points out N Sathiya Moorthy.
