Private sector bank board members have urged the Reserve Bank of India (RBI) top brass to consider workload management of the boards as they feel there are too many issues that go to the boards for approval and the situation becomes unmanageable at times. The views were conveyed to the regulator on Monday in a conference of directors of private sector bank boards on the theme "Transformative Governance Through Sound Boards". RBI governor Shaktikanta Das, deputy governors Swaminathan J and M Rajeshwar Rao, and other senior officials of the central bank participated in the conference.
Two days after being sworn in as Maharashtra Chief Minister, Devendra Fadnavis on Saturday took oath as an MLA along with deputy CMs Eknath Shinde and Ajit Pawar, while the opposition Maha Vikas Aghadi boycotted the ceremony alleging EVM misuse.
Two bills that lay down the mechanism to hold simultaneous elections were introduced in the Lok Sabha after a fiery debate on Tuesday, with the opposition terming the move 'dictatorial' and Law Minister Arjun Ram Meghwal asserting that the legislation would not tamper with the powers enjoyed by states.
The Obama Administration's mega stimulus package that pumped in billions of dollars to revive the sagging US economy at the height of the recession is now giving high returns to the US Treasury, a latest report has said.
Opposition members in Rajya Sabha on Thursday accused the government of imposing Hindi by bringing new bills with titles only in that language, a charge the treasury bench contested while alleging they were stuck with a colonial mindset.
The exodus of foreign investments from Indian equity markets continued unabated, with FPIs pulling out nearly Rs 20,000 crore in the last five trading sessions on higher valuations of domestic stocks and shifting their allocation to China. As a result, foreign portfolio investors (FPIs) have turned net sellers in the equity market, with total outflows reaching Rs 13,401 crore for 2024 so far. Going ahead, the FPI selling trend is likely to continue in the near term till data indicate the piossibility of a trend reversal.
The Indian rupee is likely to depreciate further against the US dollar through the end of 2024. This is due to the continued strengthening of the greenback, combined with the weakening of the Chinese yuan, which is expected to keep pressure on the Indian currency.
The ties between India and the Maldives came under severe strain since Muizzu, known for his pro-China leanings, took charge of the top office in November.
The South African Treasury is processing an application from telecom major MTN related to various exchange control regulations for the proposed transaction with Bharti Airtel.
'The economy is clearly at a very soft spot, and earnings growth is disappointing every day.' 'After three great years, the Indian economy has hit a rough patch.'
Returns of liquid funds are meant only for the short term and don't help investors create wealth over the long term, as equity funds do.
WazirX lost about 45 per cent of its crypto assets to the security breach. People privy to the discussions say North Korea has been mentioned.
The BJP accused Congress leaders of colluding with foreign forces to destabilize India and demanded Sonia Gandhi to disclose her role in a George Soros Foundation-funded organization's activities. The ruling party also attacked Rahul Gandhi, calling him a "pawn" for his protests against the Adani issue.
Quarterly earnings of corporates, trading activity of foreign investors and inflation data are the key factors that are expected to drive the momentum in the equity markets this week, analysts said.
Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue.
Going by the current market cap of Rs 83,451.15 crore, 7.33 per cent stake in BPCL is expected to be valued around Rs 6,117 crore.
Do Aur Do Pyaar Producer Tanuj Garg threw a party at a restaurant in Mumbai, and while the film's cast members -- Vidya Balan, Pratik Gandhi, Sendhil Ramamurthy and Ileana D'Cruz -- did not attend, many film folk did.
The rupee has remained largely stable against the US greenback in the current calendar year (CY 2024), depreciating by just 0.59 per cent so far. However, it has considerably weakened against the euro and pound. The local currency has depreciated by 1.6 per cent against the euro and 5.6 per cent against the pound, as both currencies strengthened against the dollar during this period.
The US Treasury's new acronym in its long list of programmes - PPIP or the Public-Private Investment Programme - has lifted market hopes that the administration is moving closer to restoring stability in the US financial system.
The US considers Indian a critical financial centre.
Invest with a 5 to 7 year horizon so that you are able to ride out price volatility and benefit from the long-term trends of demand and macroeconomic shifts.
The US Department of Treasury plans to sell its 27 per cent stake in Citigroup Inc, says a media report. The stake selling is part of a programme of regularly scheduled sales.
Union minister Nitin Gadkari has said the Maharashtra government's Ladki Bahin scheme, introduced to provide financial assistance to women, could affect the timely payment of subsidies in other sectors.
Paulson has also taken a dig at China "for not being bold" despite the fact that Beijing is integrated into the global economy.
The boost from treasury income has helped RIL juice up its earnings at a time when the margins in its core refining & petrochemicals business are running low.
The Ministry of Corporate Affairs has suggested that Satyam Computer deposit the salary of directors nominated to its board by the government after a multi-crore accounting fraud was exposed at the IT firm in the government treasury.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
BJP members, including the Leader of Opposition Sunil Sharma, opposed the resolution, saying it was not part of the listed business.
Pawar urged people not to fall prey to the Opposition's "fake campaigns", highlighting government schemes for the youth, women, Warkaris (followers of Lord Vithoba) and others.
Prime Minister Narendra Modi on Tuesday asked NDA MPs to follow parliamentary rules and conduct, and learn from senior members about the best practices, comments that came a day after the ruling alliance accused Leader of Opposition Rahul Gandhi of making a "most irresponsible" speech.
India on Monday asserted that its friendly ties with the Maldives will continue as Prime Minister Narendra Modi and President Mohamed Muizzu unveiled a blueprint for comprehensive economic and maritime cooperation, signalling a reset of the relationship that had hit a rough patch last year due to anti-New Delhi rhetoric.
The Reserve Bank of India's (RBI's) record surplus transfer to the government has raised hopes among bond traders that the government might reduce its gross borrowing for the current financial year (2024-25/FY25) by up to Rs 1 trillion. The RBI approved a dividend of Rs 2.11 trillion for the central government for 2023-24, marking an increase of roughly 141 per cent from 2022-23 (FY23). In addition, the contingency risk buffer has been raised to 6.5 per cent from the previous 6 per cent.
The Reserve Bank of India (RBI) abstained from selling any US dollars throughout February, for the first time in nine months. The decision comes amid increasing pressure on the rupee, as expectations of rate cuts by the US Federal Reserve keep pushing back. The last time the RBI did not sell dollar over a month was in May 2023.
United States President Barack Obama, in an effort to rejuvenate the battered US economy, on Thursday nominated his chief-of-staff and budget specialist Jack Lew as the next treasury secretary.
'India represents one of the top opportunities with robust growth, solid fundamentals, and openness to foreign investment.'
He was previously Chief-of-Staff and Budget specialist.
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
The other recent reforms initiative of the government include the decision to raise FDI cap in insurance from 26 to 49 per cent and allowing foreign investment in pension.
Foreign investors have pulled out a massive Rs 22,000 crore from Indian equities so far this month, due to uncertainty surrounding the outcome of the Lok Sabha elections and outperformance of Chinese markets.
