The leaders of the Quad comprising India, the United States, Australia and Japan are set to demonstrate that the grouping is a 'force for global good' and has a unifying commitment to a rules-based international order amid China's increasingly intimidatory behaviour.
SoftBank-backed internet commerce firm Meesho has downsized its grocery vertical Meesho SuperStore (formerly Farmiso) in an attempt to drive efficiency. The Bengaluru-based firm did not reveal the number of laid-off employees. However, the company officials said that about 150 employees have been laid off.
The net outward foreign direct investment went up from $9.1 billion in 2017-18 to $12.6 billion in 2018-19 and moved further north to $13 billion in 2019-20.
India's sprawling digital public infrastructure received a glowing endorsement from billionaire philanthropist Bill Gates on Wednesday as he praised the country's "great" digital network, reliable and low-cost connectivity, and said this will be the cheapest 5G market. Under the G20 presidency of India, a session on 'Building resilient and inclusive economies- the Promise of Digital Public Infrastructure' was held on Wednesday in New Delhi, where the Microsoft co-founder spoke of India's digital identity Aadhaar, its payment infrastructure, and rapid strides that the country has taken in bringing more people into formal banking system. "India in particular, by laying the groundwork for digital public infrastucture starting with identity system, allows people to build on top of that.
He said that those who have surrendered and returned to the mainstream are being rehabilitated by both the central and Assam governments and they will participate in the development journey of the state.
They straddle many different (non-financial) lines of business with sometimes opaque overarching governance structures.
Could it have been more reformist? Of course, but this is an election year Budget, observes Akash Prakash.
Nepal witnessed political turbulence in 2022 that dramatically turned rivals into allies and throned former guerrilla leader Pushpa Kamal Dahal 'Prachanda' as the prime minister for a third time, as Kathmandu made efforts to balance ties with immediate neighbours India and China with high-profile talks and visits.
Modi is also expected to hold bilateral meetings on the sidelines of the summit, including with Putin, and Uzbek President Shavkat Mirziyoyev among other leaders.
The increasing involvement of Big Tech in the financial system could give rise to concentration risk and there are potential spillovers, which call for closer attention, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Tuesday. "...enormous amounts of consumer data is being generated and leveraged upon by a few entities (the so-called Big Tech) by virtue of their huge customer base. "Such developments raise concerns on concentration risk and potential spillovers as their level of engagement with the financial system strengthens in the years to come," Das said at the Global Fintech Fest 2022.
'The markets haven't corrected, that doesn't mean that they will only go up and up.'
The Reserve Bank of India (RBI) on Wednesday announced to increase the policy repo rate by 50 basis points to 4.9 per cent, the second hike in five weeks aimed at quelling the inflation. The MPC vote was unanimous and has decided to keep stance withdrawal from accommodative, RBI Governor Shaktikanta Das said in a press conference on Wednesday. The decision was taken during a three-day meeting of the RBI's Monetary Policy Committee (MPC) to review the interest rates in the country. The MPC voted unanimously to increase the policy repo rate by 50 bps to 4.90 per cent," Das said.
With the Congress presidential polls round the corner, party leader Rahul Gandhi on Thursday said decisions, including that of one-man, one-post, taken at the Chintan Shivir at Udaipur in Rajasthan earlier this year are expected to be followed.
Jaishankar also emphasised the need for ensuring that Kabul's neighbours are not "threatened by terrorism, separatism and extremism".
The key components of the Ayushman Bharat Digital Mission include a health ID for every citizen that will also work as their health account, to which personal health records can be linked and viewed with the help of a mobile application, a Healthcare Professionals Registry (HPR) and Healthcare Facilities Registries (HFR) that will act as a repository of all healthcare providers across both modern and traditional systems of medicine.
The Financial Sector Legislative Reforms Commission, chaired by Justice B N Srikrishna, has suggested a non-sectoral, principle-based approach to revamp the existing framework.
'GIFT City is now on a growth trajectory,' says Tapan Ray, MD and group CEO, GIFT City, 'The time has come for the GIFT City to take the big leap and emerge as the next financial hub of Asia.'
Leveraging global capital markets to give muscle to an innate competitive advantage in rapid mass transaction systems will lead to India becoming a petri dish for global enterprises and new-age innovation that it yearns to be.
UK-based Vodafone Group has ruled out selling its around 5 per cent stake in the holding company of Bharti Airtel in the near future as there is no buyer.
The combination will enable enterprises to move to a 100 per cent virtualised environment with management, orchestration and hypervisor integration, Infosys said.
The future of cryptocurrencies in India appears uncertain but that has not deterred young Indians from embracing the so-called 'fourth industrial revolution' world, where interconnectivity and smart automation, much of it relying on blockchain technology, drive human civilisation. Reserve Bank of India (RBI) Governor Shaktikanta Das has repeatedly warned of macroeconomic instability and even "serious consequences" if cryptocurrencies turn mainstream. The country's monetary authority wants a China-like total ban on crypto, not even allowing these currencies to be treated as investments. Though Parliament's website had listed the Cryptocurrency and Regulation of Official Digital Currency Bill as one seeking a total ban of cryptocurrencies in the country, it was not presented in the Winter Session. India now has the highest number of cryptocurrency investors in the world.
'With nearly double the market share of our nearest competitor, we are shaping the digital transformation journey of close to 1,000 clients in India.'
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 payments industry is at a crossroads with the banking regulator on two pressing issues, neither of which seems headed towards an amicable solution. Depending upon which side accommodates the other, customers in India will have to choose between convenience and ironclad safety. In the end, the Reserve Bank of India (RBI), which regulates both banks and all payments services providers, will prevail. But the question is: will it do so by bending a little or by sticking to its firm stand? The two issues - one concerning payment facilitators storing customers' card details and the other about auto-renewal of payments - appear similar but aren't.
With the signing of the pact, the Quad grouping of India, Japan, Australia and the US is set to gain more heft now, notes Dr Rajaram Panda.
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Sebi keen to attract larger number of retail investors
2017 saw the highest-ever mobilisation by way of IPOs of close to Rs 700 billion. The momentum is expected to continue this year as well.
'China's opaque defence allocation processes are shrouded in mystery and have triggered security dilemmas among its neighbours and others,' notes China expert Srikanth Kondapalli.
Revenue dept says changes in I-T Act require Parliament nod; new regime to wait till Budget in June-July 2014.
Experts consider Sebi's takeover code in its present form to be on a par with any foreign code governing public mergers and acquisitions.
For the third time in a row the California state legislature passed a resolution to declare November as Sikh Awareness and Appreciation month. This year the resolution was proposed by Assembly Member Bob Wieckowski (Democrat, Fremont).
BoB now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers.
New Delhi should resist any temptation to act as spoiler and instead should cooperate with its SCO partners in reaching a regional consensus behind the formation of an interim government in Kabul, argues Ambassador M K Bhadrakumar.
The country has come a long way in the process of financial inclusion, Raghuram Rajan said, but "still has a way to go".
Mergers and acquisitions would continue to create big corporate conglomerates but there is a need to draw a red line to avoid dominance and curbing of open competition in market by them, he said while addressing a conference on competition issues in New Delhi.
DEA officials to push for this at a meeting with FM Jaitley.
With equity and commodity exchanges allowed to enter each other's areas from October, brokerages are pump-priming their businesses to allow their clients seamless trading in commodities and equities.
Pradhan said a National Data Repository which will store information on all sedimentary basins of the country is being pursued on top priority.
India does not have a unified regulatory regime to counter Ponzi, or pyramid, schemes whose operators typically grab new deposits to meet their promise of guaranteed returns to existing savers, point out Manoj Kumar and Mayank Bhardwaj.
India's national security strategy needs to be revised periodically since the global and regional geopolitical situation is dynamic, points out Commodore Venugopal Menon (retd).
