Like with all great crashes, some had noticed the cracks. "... cash balances (of banks) seem, from the available indications, to be hopelessly inadequate; and it is hard to doubt that in the next bad times they will go down like ninepins. If such a catastrophe occurs, the damage inflicted on India will be far greater than the direct loss falling on the depositors," said John Maynard Keynes in his May 1913 work "Indian Currency and Finance", written before his path-breaking work in macroeconomics laid the foundation of dealing with global crises.
RBI Governor Shaktikanta Das and Finance Secretary Subhash Chandra Garg are also expected to attend the meetings.
According to the finance minister, India was compliant with most of the internationally accepted standards in banking, securities markets and insurance sector.
Goldman Sachs is bullish about Indian aerospace and defence, preferring private companies over public sector units (PSUs) as the country ramps up its export target for the sector to Rs 50,000 crore by FY29 from Rs 23,600 crore last year. The American investment bank's top 'buy' recommendations include Solar Industries, Bharat Electronics, Data Patterns and PTC Industries, while Bharat Dynamics is rated 'sell'.
Observing that economy was "going well" in India, which has large internal markets, the World Bank said on Thursday that growth had to be labour oriented, even as it expressed concern over the mounting fiscal deficit.
India Inc, which is sitting on cash balances of 13.5 trillion, is using the funds to meet capital expenditure as well as brownfield expansion, resulting in 'anaemic' demand for bank loans, State Bank of India (SBI) chairman CS Setty said at an event on Monday. He added that a slowdown in corporate credit is mainly due to lack of demand.
While edging up China's gross domestic product growth projection for both 2010 and 2011, the report said that growth in domestic demand would remain strong although exports could suffer from a predicted global economic slowdown next year.
The World Bank said on Monday that it would "more or less" stick to its forecast of 6.5 per cent growth rate for Indian economy despite the damage suffered by the country in the tsunami tragedy.
Former US President Donald Trump claims Pakistan's Prime Minister Shehbaz Sharif and Field Marshal Asim Munir support his plan to end the Gaza conflict, citing their involvement in negotiations and a recent statement of full support.
World Bank will provide another $220 million loan to Andhra Pradesh to expedite the reforms process even as it was considering sanctioning such loans to Tamil Nadu and Orissa as well.
The additional finance will also help the government focus on improving the quality of water supply.
The government and World Bank on Tuesday signed an agreement for a credit of 180 million SDR ($250 million equivalent) from International Development Agency for the Technical Engineering Education Quality Improvement Project.
The government is in talks with the World Bank for technical and financial assistance for overall e-governance projects in the country.
England racked up an eighth successive victory against Wales with a 3-0 cruise in an international friendly at Wembley on Thursday.
In President Donald Trump's big priority bill, there is a proposal for a 5 percent excise tax on remittance transfers that would cover more than 40 million people, including those holding green cards and H1B visas.
In line with its decision to maintain borrowing within its "load bearing" capacity, Karnataka has decided against going in for more loans from the World Bank and other agencies, Chief Minister S M Krishna said on Wednesday.
The World Bank has approved a $120 million loan to support the development of India's small and medium enterprises sector.
World Bank is optimistic that the Indian economy can grow by 6-8 per cent in the coming years but has asked the government to improve social services like education and health.
'When global politics has some intervention on the core software one uses, and if you are cut off from your own data in critical workflows, sovereignty is no longer optional. It becomes a necessity.'
A 10-part series that explains all you want to know about how India's EPF turns a slice of your monthly salary into long-term savings, pension, and life insurance.
The World Bank and IMF have announced that they will try to complete reforms in the Bank's voting structure by next year, a move which would give emerging economies like China and India a greater say in the affairs of the financial institutions.
Investors believe Indian is a tough place to do business with.
Saudi Arabia's Al-Hilal stunned Manchester City 4-3 in extra-time in Orlando on Monday to pull off one of the shocks of the Club World Cup.
It is high time India ends its silence on the human cost of the Gaza war and takes a principled stand without diluting its relations with Israel. A largely friendless Tel Aviv today needs New Delhi more than the other way around. India's failure now may cost it diplomatically in the long run, cautions M R Narayan Swamy.
India's Railways has struggled to expand to keep up with demand
Pakistan will get a whopping $6.2 billion aid from the World Bank in the next three years to come out of the current economic crisis, reduce poverty and improve the fragile security situation in the country.
Amid criticism over engaging experts from multilateral agencies like World Bank, Planning Commission on Wednesday asserted that none of the "outside bodies"
The revised projection comes after a 17% rise in the April-June.
In its global economic forecast update for 2009, the World Bank projected a growth rate of 4 per cent for India during 2009-10, while the ADB, in its outlook, expects the economy to expand by 5 per cent. A separate outlook by the Organisation for Economic Cooperation and Development, a club of developed countries, has forecast a 4.3 per cent growth rate for India. India had last grown below this level in 2002-03, when the economy expanded by 3.8 per cent.
Murders disguised as accidents. In one horrifying case, a man insured his father, mother, and wife -- then allegedly killed them all. He claimed Rs 54 crore in insurance.
India is on track to register its entire 1.25 billion population using its Aadhaar digital ID.
After disclosing late last year its decision banning Satyam Computer Services, the World Bank said earlier this month that Wipro and another Indian IT firm Megasoft have also been debarred from directly doing business with it under its corporate procurement programme. The Bank had disclosed the ban on Satyam on December 25, while debarment of Wipro and Megasoft was revealed on January 11.
The World Bank said on Monday hardening interest rates and a surge in oil prices worldwide will have a marginal impact on India's economy and the country would continue to witness high GDP growth.
Pulok Chatterjee, secretary in the Prime Minister's Office, has been appointed as executive director in the World Bank
The World Bank has approved a $1.5 billion loan for the ambitious clean India campaign.
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