National Democratic Alliance nominee Om Birla was elected as Lok Sabha speaker on Wednesday after a motion moved by Prime Minister Narendra Modi was adopted through voice vote, capping intense debate on the issue with the opposition in a rare move proposing its own candidate.
The Rajya Sabha chairman asked him to authenticate his assertions and refused to accept newspaper clippings that the Congress leader showed to buttress his points.
The Democrats have elected a set of state representatives who will act as an electoral panel. These representatives will have to pick someone else. This could be Vice President Kamala Harris, who is widely seen as a top contender, but is not popular, points out Aakar Patel.
He said the new short-term treasury bills will be part of the government's same borrowing programme. To meet its burgeoning expenditure, necessitated by the slowing down economy, the government has pegged its market borrowing at over Rs 4.5 lakh crore (Rs 4.5 trillion) for the current fiscal, bulk of which is being raised in the first half.
From first date to a special date: The vlogger & former VJ covers it all.
An MBA from Harvard Business School, Rishad, 32, joined the company almost two years ago as a business manager in the Banking and Finance division, which was then headed by Girish Paranjpe, the present joint CEO of the company's IT business. During his stint with GE Capital, Rishad was working in the treasury. Industry analysts say that Wipro is adhering to corporate standards, by treating the chairman's son at par with other employees.
Aiming to further expand the bilateral economic engagement, US Treasury Secretary Timothy Geithner would travel to New Delhi and Mumbai later this month for the third annual meet of the US-India Economic and Financial Partnership.
It is possible to be blind to this and pretend to carry on as if nothing has happened but that will not change the reality, asserts Aakar Patel.
The climate for 'doing business' remains forbidding, taxtortion is still rife, corruption at state and district levels has increased, oil prices remain extortive with high taxation, and the continued red tape has kept the enterprise system as stifled as before, points out Debashis Basu.
It was almost as if we were back to 'acchey din', when Parliament was a forum where two sides fought ferociously as equals. For that we need to thank Rahul Gandhi, notes Jyoti Punwani.
Banks are preferring instruments with higher premium over government securities for their held-till-maturity (HTM) portfolio, following the new investment norms, which came into effect from April 1. They are stocking up on corporate bonds and state government securities to boost yield on their portfolio, according to market participants. "Definitely, if there is a good spread available and without lower credit risk, those instruments will be favoured to boost the yield on the portfolio.
A formal announcement by the company is expected anytime, sources added. Treasury stock refers to shares of a company which are not issued to the public, as some are kept in the company's treasury to be used to create extra cash when needed.
Rajya Sabha Chairman Jagdeep Dhankhar's decision to allow Singh to speak on the Bharat Ratna honour to Charan Singh drew sharp protest from the Congress, leading to a heated exchange of words between the opposition and the treasury benches.
Commenting that running a country is not a play for those born with a golden spoon, Modi said, "They have gone from Amethi and will go even from Rae Bareli."
Prime Minister Narendra Modi on Tuesday said the people have given his government a mandate for stability and continuity for the third consecutive term after seeing its work of 10 years and accused the Congress of trying to build a narrative that it has defeated the Bharatiya Janata Party-led National Democratic Alliance in the Lok Sabha polls.
Benchmark stock indices Sensex and Nifty fell for the third day running on Friday due to weak trends in global markets and soaring crude oil prices. Foreign fund outflows also weighed on investor sentiments amid strengthening US bond yields which are nearing 5 per cent for the first time since 2007. The 30-share BSE Sensex fell 231.62 points or 0.35 per cent to settle at 65,397.62.
The need for money among banks, especially for short-term funds, may turn more intense in the last month of the financial year to feed the demand for capital for tax payments and meet year-end targets. The mobilisation of funds via the certificate of deposits (CDs) has seen a threefold increase to over Rs 60,000 crore in the fortnight that ended February 23 from around Rs 20,000 crore in the fortnight of January 26, 2024, according to the Reserve Bank of India (RBI) data.
The country's total debt, or the total outstanding bonds which are being traded in the market, rose to $2.47 trillion (Rs 205 lakh crore) in the September quarter, according to a report. The total debt amount in the March quarter of the previous fiscal was $2.34 trillion (Rs 200 lakh crore). The central government's debt stood at $1.34 trillion, or Rs 161.1 lakh crore, in the September quarter, up from $1.06 trillion, or Rs 150.4 lakh crore, in the March quarter, Vishal Goenka, co-founder of Indiabonds.com, said, quoting data provided by the Reserve bank of India.
Finance Minister Nirmala Sitharaman on Tuesday, April 11, 2023, met with US Treasury Secretary Janet Yellen in Washington, DC.
Despite the narrowing spread of yields between the benchmark 10-year Indian government bond and the 10-year US Treasury bond, foreign portfolio investors (FPIs) are continuing to invest in the domestic debt market this year -- a trend backed by a stable currency and a less volatile bond market. FPIs have been net buyers in the debt market in 2023 so far, marking the first time since 2019. The yield spread between the 10-year Indian government bond and the 10-year US Treasury note stood at 3.14 per cent on August 8 - the narrowest in over a decade.
ICICI Bank on Saturday said its March quarter consolidated net profit grew 18.5 per cent to Rs 11,672 crore, helped by lower provisions. On a standalone basis, the second largest private sector lender showed a 17.4 per cent growth in its profit after tax at Rs 10,708 crore for the reporting quarter against Rs 9,122 crore in the year-ago period. For fiscal 2023-24, its standalone net profit grew to Rs 40,888 crore from Rs 31,896 crore a year ago.
Modi's inability to make peace with a renewed Opposition will only embolden his coalition partners and it is just a matter of time before they begin asking probing questions besides politely disagreeing with his tactics, predicts Nilanjan Mukhopadhyay.
Urals and Sokol accounted for every 4 out of 5 barrels of Russian supplies to India last year.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
Bond market participants expect an open market operation (OMO) auction in the first week of November as the banking system liquidity is expected to ease on the back of government spending and maturity of bonds. According to market participants, the Reserve Bank of India (RBI) will issue a notification on OMO sales by October 31. They speculate that the central bank might conduct the auctions in multiple tranches of Rs 10,000 crore.
A bench of Justices Ajay Rastogi and Bela M Trivedi said it is not issuing notice but tagging the matter with the pending similar appeal also filed by the CBI.
ICICI Bank reported good results for the October-December 2023 quarter (Q3), with 24 per cent year-on-year (Y-o-Y) growth in profit after tax (PAT). Net interest margin (NIM) dropped 10 bps quarter-on-quarter (Q-o-Q) to 4.43 per cent. Credit growth was at 19 per cent Y-o-Y (4 per cent Q-o-Q), while deposit growth was at 19 per cent Y-o-Y (3 per cent Q-o-Q).
Though Buffett, chief of the Berkshire Hathaway holding company, supported Obama in the race for the White House, McCain was all praise for Buffett's contribution to the global economic crisis.
A picture of glamour and grit in the face of an emergency, the air hostess, flight attendant or air stewardess is often the hero we didn't know we needed.
The Indian equity market valuation has been moving in tandem with the US 10-year treasury yield. While the benchmark US bond yield has witnessed a nearly 70 basis point decline since the end of October this year, dropping from 4.93 per cent to 4.23 per cent on Friday, the Sensex earnings yield has slipped by nearly 45 basis points - from 4.5 per cent to 4.05 per cent. Previously, Indian equities' earnings yields rose in sync with the US bond yields.
Exchange-traded currency derivatives volumes are likely to drop in view of new Reserve Bank of India (RBI) rules, casting a cloud over further participation of retail investors and proprietary traders. There are concerns that existing positions without any underlying exposure will need to be liquidated. Also, weighed down by dollar demand from local oil companies and weakness in its Asian peers, the rupee on Wednesday (April 3) ended at a new closing low of 83.44 versus the US currency.
Public sector banks (PSBs) have delivered significant outperformance over the past three years and the sector has been re-rated. Given the growth and profitability expectations of an 18 per cent return on equity (RoE) over FY24-26, there is still a case for buying at the current levels. While the net interest margins or NIMs may remain range-bound or have a downward bias, there's optimism about possibly better opex ratios and lower non-performing assets (NPAs), plus scope for further credit cost reduction, and healthy treasury performances as interest rates trend down.
Gold is an excellent asset class for diversification and should be included in all long-term portfolios.
It was a faux pas by Treasury Benches members when they voted against a clause in the Food Security Bill in the Lok Sabha on Monday night, thinking it was a division on an amendment moved by the Leader of the Opposition Sushma Swaraj.
These schemes are a good choice for investors contemplating a large investment in equity funds. Instead of investing all the money in one go, they can do so in a staggered manner by parking it in these schemes and then transferring it to equity mutual funds through a systematic transfer plan.
India's foreign exchange reserves increased to $604 billion as on December 1, surpassing the $600 billion mark after a gap of about four months. The forex reserves were last above the $600 billion mark on August 11 this year. "India's foreign exchange reserves stood at $604 billion as on December 1, 2023.
'The global situation is not very good.'
Rangeela's presence in the fray could have been trifle uncomfortable for Modi. He may not have posed an electoral challenge to the prime minister, but Rangeela's public meetings could have seen people flocking, if only to hear him mimic Modi. In a completely Modi-centric election, the presence of a 'rival' -- if only for a smattering of audience at his meetings -- would not have been particularly appreciated by Modi, asserts Nilanjan Mukhopadhyay, author of Narendra Modi: The Man, The Times.
After falling 10 per cent against the greenback in 2022, the rupee staged a comeback in 2023 as it appreciated, albeit marginally, on the back of strong portfolio inflows, in addition to timely intervention by the Reserve Bank of India. The Indian unit appreciated by 0.16 percent in six months until June 28. The rupee stood in third place in terms of appreciation against the US dollar among the 12 Asian currencies and in 12th place of the 23 emerging-market currencies.
She also holds the distinction of delivering the longest budget speech at two hours and forty minutes in 2020.
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