Despite steady loan growth, the banking sector is expected to report subdued margins in the quarter ending June 2024 (Q1FY25), driven by high demand for deposits amidst tight liquidity conditions. However, according to Bloomberg analysts, listed banks are forecasted to see a 14.5 per cent year-on-year (Y-o-Y) increase in net profit. Estimates showed that banks' net interest income (NII), and revenues from interest minus interest expenses might grow 11.9 per cent Y-o-Y.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
'Generating employment requires a shift in policy.' 'If not, the country will face economic, social and political challenges in the coming years.'
'The lack of a majority isn't the issue. He has enough in 240, especially as none of his allies can pull down his coalition.' 'That's why he's started as if this were just another, normal term. That pretence is vital for him.' 'The change for Modi 3.0 comes not from numbers, but from the new environment of contestation,' points out Shekhar Gupta.
Developers in India now have expanded access to Google's powerful AI models with the 2 million token context window in Gemini 1.5 Pro and Gemma 2, the next generation of open models.
India and Russia on Tuesday set a target of $100 billion in annual trade volume by 2030 and vowed to develop a robust bilateral payment settlement mechanism using national currencies. The two sides also inked a total of nine agreements to further broadbase cooperation in a range of areas including in the economic domain following summit talks between Prime Minister Narendra Modi and Russian President Vladimir Putin.
Commercial banks have turned cautious in lending to smaller microfinance institutions (MFIs), which has compelled the latter to borrow from non-banking financial companies (NBFCs) at much higher rates. Recently Reserve Bank of India (RBI) Deputy Governor M Rajeshwar Rao slammed micro lenders for increasing their margins "disproportionately" and said these lenders were quick to pass on the increased cost to the borrowers but reluctant to pass on the benefits under the new regime, where margins are not capped.
Kirodi Lal Meena has resigned as a minister in the Rajasthan government following the Bharatiya Janata Party's underwhelming performance in the Lok Sabha polls in the state.
The Supreme Court on Monday dismissed a plea filed by the West Bengal government challenging the Calcutta high court's order which directed a Central Bureau of Investigation (CBI) probe into the allegations of crimes against women and land grabbing in Sandeshkhali.
Milk supplies could improve with the monsoon, provided the rains are not excessive.
June rainfall accounts for 15 percent of the total precipitation of 87 cm recorded during the four-month monsoon season in the country.
Passenger vehicle retail sales in India witnessed a 7 per cent on-year decline in June as severe heatwave conditions resulted in 15 per cent less showroom walk-ins, industry body FADA said on Friday. Overall passenger vehicle registrations stood at 2,81,566 units last month, as compared to 3,02,000 units in June 2023. "Despite improved product availability and substantial discounts aimed at stimulating demand, market sentiment remains subdued due to extreme heat resulting in 15 per cent less walk-ins and delayed monsoons," the Federation of Automobile Dealers Associations (FADA) president Manish Raj Singhania said in a statement.
A total of 45 MLAs voted in favour of the confidence motion in the 81-member assembly.
The members of the cabinet committees included Union ministers from the Bharatiya Janata Party and its National Democratic Alliance partners like Janata Dal-United, Telugu Desam Party, Janata Dal-Secular, Shiv Sena and Lok Janshakti Party-Ram Vilas.
The notice requested Rashid or a representative of his to appear before the district expenditure monitoring committee within two days to address the discrepancy and ensure timely submission of the expenditure report to the Election Commission of India.
Italian police have arrested the owner of the agriculture company who dumped a 31-year-old Indian worker on the road without medical assistance after his arm was severed by heavy farm machinery, causing his death, a tragic incident that shocked the country and its leadership.
Throughout its 155 minutes, every scene is doused in blaring background music and melodrama. Disappointment alone won't do, it must feel like a full blown catastrophe, observes Sukanya Verma.
Several BJP-backed state governments have unveiled schemes targeting the poor, women, farmers and students, following the party's setback in the Lok Sabha polls.
'If you invest in sovereign gold bond, you are going to get the price rise of gold over an eight year period.' 'You're also going to get that two-and-a-half percent which the Government of India is willing to give you, treating the money that you've invested in the sovereign gold bond as a kind of a FD or a deposit.' 'That kind of return you can never get anywhere else.'
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
It was the summer of 2006 (May 18). Writers' Building, then the state secretariat, was buzzing with journalists. The event marked the start of Buddhadeb Bhattacharjee's second term as chief minister. And in style, it got off with West Bengal bagging the small car plant, Nano.
An increase in the farmer income support scheme PM Kisan Nidhi, the introduction of a 'robot tax' to fund reskilling of people who lose their jobs to artificial intelligence (AI), and a reduced income-tax (I-T) to bring relief to the middle classes - these are some of the items in the Budget wish list submitted by Sangh Parivar affiliates to Finance Minister (FM) Nirmala Sitharaman. Representatives of the affiliates of the Rashtriya Swayamsevak Sangh (RSS), such as the farmer organisation Bharatiya Kisan Sangh (BKS); trade union Bharatiya Mazdoor Sangh (BMS); Laghu Udyog Bharati, which works for micro and small industries; and Swadeshi Jagran Manch (SJM), which works on economic and policy issues, met the FM and other officials over the last couple of weeks as part of the pre-Budget consultations.
By taking the mutual fund route, investors can take exposure to gilts with small amounts. Over a decade or more, returns from these funds tend to be sound.
Prime Minister Narendra Modi on Monday took oath as member of the 18th Lok Sabha.
Holding up pictures of Lord Shiva, Guru Nanak, and Jesus Christ, he referred to Hinduism, Islam, Sikhism, Christianity, Buddhism and Jainism to underline the importance of fearlessness. He also cited the attributes of Lord Shiva and teachings of Guru Nanak, Jesus Christ, Buddha, and Mahavir to state that all religions and great people of the country have said "daro mat, darao mat (do not be scared, do not scare others)".
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
Three years after India declared its goal to become a net-zero economy by 2070, the policy design for achieving the target has begun, with the NITI Aayog forming dedicated multi-sectoral committees to prepare a transition plan. In 2021, India joined a select group of nations that set a target year for becoming net-zero carbon economy. At COP26 in Glasgow, Prime Minister Narendra Modi outlined a five-pronged 'Panchamitra' climate action target for India and committed to a net-zero target by 2070, joining nations like the US, the UK, and China.
Larger listed domestic-focused tyre companies have underperformed the benchmarks in the last three months but exporter Balkrishna Industries has bucked the trend. The company, which exports off-highway tyres, has generated 43 per cent returns in this time compared to MRF and Apollo Tyres, which are down 5-10 per cent. In addition to better-than-expected performance in the March quarter, exports and market share gains have helped Balkrishna pull ahead of peers.
'You will see him frequently asking customers -- especially retail -- about service experience, pain points, areas of improvement and suggestions.'
The son of Union Agriculture Minister and former Madhya Pradesh chief minister Shivraj Singh Chouhan has said that after the landslide victory in the Lok Sabha elections, 'entire Delhi is bowing down' before his father.
The party's national executive meeting chaired by its president and Bihar Chief Minister Nitish Kumar flagged price rise and unemployment as "burning issues"
The strong message from the prime minister is of continuity of policies he considers right with strong emphasis on execution, points out T N C Rajagopalan.
The government on Wednesday raised the minimum support price (MSP) for paddy by 5.35 per cent to Rs 2,300 per quintal for the 2024-25 kharif marketing season. The hike in paddy support price comes despite the government sitting on surplus rice stocks, but it is significant ahead of elections in states like Haryana, Maharashtra, Jharkhand, and Delhi.
A Bharatiya Janata Party office-bearer from Shirur in Maharashtra's Pune district has sought the removal of Deputy Chief Minister Ajit Pawar and his Nationalist Congress Party from the ruling alliance, which also consists of Chief Minister Eknath Shinde's Shiv Sena.
'There are legions of unemployed degree holders across rural and semi-urban belts in Maharashtra. Now, they aren't finding brides.' 'This issue has now snowballed into a social crisis. In 2014 and 2019, they had voted for the BJP.'
Here is an explainer on the functioning of the seven-year-old body.
Prime Minister Narendra Modi on Tuesday told Russian President Vladimir Putin that a solution to the Ukraine conflict is not possible on the battlefield and peace efforts do not succeed in the midst of bombs and bullets even as he flagged concerns over a missile strike on a children's hospital in Kyiv.
Newly appointed Union Minister of Agriculture Shivraj Singh Chouhan ditched a chartered plane and boarded the Shatabdi Express to travel to Bhopal.<
'The BJP alliance needs to handle the Maratha quota issue skilfully and address its root cause, which is agrarian distress. Then there is stalled industrialisation. If these issues are addressed, caste fault lines would wither away. But, this is next to impossible in a short span of three-four months.'
'They were very vocal on the defence of the Constitution, reservation, SC/ST Act and democratic rights.'
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