The Reserve Bank (RBI) resisted a 'raid' planned by some in the government to extract Rs 2-3 lakh crore from its balance sheet in 2018 to meet populist spending in run-up to general elections, Viral Acharya, who was deputy governor at RBI at that time, has written.
The rupee depreciated by 9 paise and settled at its all-time low level of 83.13 against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
The Indian rupee, which has depreciated 1.1 per cent so far in August, is expected to decline further on the back of a strengthening US dollar and a weakening Chinese yuan, according to a Business Standard poll of analysts. The Indian rupee hit an all-time low recently, closing at 83.15 per dollar. Five of the 10 respondents said the Indian currency might touch 83.5 per dollar in August itself, while others said the worst could be over.
Rameshbabu Praggnanandhaa went down to World No 1 Magnus Carlsen in the FIDE Chess World Cup final, in Baku, on Thursday.
Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said. In a volatile trade, the 30-share BSE Sensex declined 202.36 points or 0.31 per cent to settle at 64,948.66.
He said the search operation was launched after police received information about the movement of terrorists in the area.
The Narcotics Control Bureau on Tuesday claimed to have busted the "biggest" darknet-based LSD cartel operating in India with the seizure of more than 13,000 blots and Rs 26 lakh in cash and the arrest of three persons.
The US market has been a standout performer this year, with the benchmark Standard and Poor's 500 (or simply the S&P 500) gaining over 16 per cent during the first half of calendar year 2023 (CY23) in what was its best first-half show since 2019. By comparison, India's National Stock Exchange Nifty 500 has gained 6.4 per cent. On the surface, it appears that the US markets have done exceedingly well. However, a deeper analysis reveals the gains in the domestic market to be more well-spread.
Carlos Alcaraz came through a testing third round encounter against Nicolas Jarry.
The Bombay high court on Thursday said that no matter how laudable or high the motives are while framing rules, if the effect of a rule or law is unconstitutional then it has to go.
In Jammu and Kashmir, Eid prayers passed off peacefully and there was no report of any untoward incident, the police said.
The incident took place on Saturday inside the Pragati Maidan tunnel when the victims were going towards Gurugram in a cab to deliver the money.
The Railway Board also said several infrastructure projects are under progress with stringent targets and officers and staffers on the field need to be sensitised that the integrity of the signalling system is of utmost importance from a safety point of view.
Amid the ongoing fight for control of the Jammu and Kashmir National Panthers Party (JKNPP), president Vilakshan Singh was expelled from the party by its London-based chief patron Ankit Love who accused him of being a "secret agent" of the Bharatiya Janata Party.
The Imphal Valley in Manipur, which remained peaceful for most of Friday, witnessed sporadic clashes later in the day as more security forces were rushed in from other states by road and air to calm down a state which had witnessed bloody ethnic rioting over the last 48 hours.
The Imphal Valley in Manipur remained peaceful but tense on Friday, however intermittent gunfights between militant groups and security forces were reported from the hill districts surrounding the valley.
Instead of only focusing on the tenure for which the best interest rate is available, investors should also focus on their own investment horizon.
The Opposition party lashed out at the Modi government over the issue, saying the problem with most of ministers is that they are so eager to prove their loyalty to 'their master and be his voice' that they have forgotten that they are sworn to certain responsibilities.
Though the 2022-23 financial year (FY23) is expected to end with record sales for the Indian real estate sector, valuations are at multi-year lows on worries of rising interest rates hurting volumes. Most brokerages, however, expect listed realty majors to get support, given their comfortable leverage, steady rise in location-agnostic demand, and falling inventory levels. According to real estate data and analytics platform PropEquity, the sector grossed sales of 149 million square feet (msf) in the top seven cities in the October-December quarter (third quarter, or Q3) of FY23 - the highest quarterly sales in the past decade.
IndusInd Bank was the biggest loser in the Sensex pack, shedding 7.46 per cent, followed by SBI, Tata Motors, M&M, Bajaj Finserv, Axis Bank and Infosys. In contrast, Tech Mahindra was the only winner.
The Indian Space Research Organisation said it successfully carried out an "extremely challenging" controlled re-entry experiment of the decommissioned orbiting Megha-Tropiques-1 (MT-1) satellite.
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.
From the Sensex pack, Reliance Industries fell the most by 2 per cent. Tata Steel, Bajaj Finserv, ITC, NTPC, Bharti Airtel, Tech Mahindra, Titan, Axis Bank and Bajaj Finance were among the other major laggards.
India's economic image is not affected due to Adani Group's recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.
'It's a clear case of political patronage helping an individual grow.'
US short seller Hindenburg Research has rejected Adani Group's charge that its report was an attack on India, saying a "fraud" cannot be obfuscated by nationalism or a bloated response that ignored response to key allegations. Commenting on the 413-page response Adani Group released late on Sunday evening in response to its report, Hindenburg said it believed India was a vibrant democracy and an emerging superpower with an exciting future and it was Adani Group which was holding it back through "systematic loot". Hindenburg stood by its last week's report that said its two-year investigation found Adani Group "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".
Shah Rukh Khan's weathered intensity, grizzly charisma and trademark wit lends Pathaan's all-out, devil-may-care antics a sense of purpose that evades mindless acts of mayhem, cheers Sukanya Verma.
Reliance Industries Ltd on Friday reported a 15 per cent drop in its net profit to Rs 15,792 crore for the third quarter, according to a company's stock exchange filing. The net profit of Rs 15,792 crore in October-December 2022 compares to Rs 18,549 crore a year back.
A joint team of multiple forces are undertaking the offensive to target some senior and most-wanted Naxal commanders, official sources said.
In 2022, gold emerged as the top performer among all conventional asset classes with over 14 per cent returns mainly owing to the depreciation of the rupee.
If the wedding takes place between January 20 and 22, Rahul, who is fighting for his place in the team, will miss the home series against New Zealand.
Given the prevailing uncertainties, investors must maintain a 10-15 per cent allocation to gold in 2023.
A yellow glow is likely to stand out amid grey geopolitical clouds in 2023, with gold price projected to touch Rs 60,000 per 10 grams in the Indian market as more investors veer towards safe-haven assets. In a year where volatility was more a norm than an exception, gold prices in the international market oscillated from a peak of $2,070 per ounce in March to a low of $1,616 per ounce in November and is steadily recovering since then, according to market experts. At the beginning of 2022, gold prices were around $1,800 an ounce.
The members of the farmers' unions while on their way to the protest site removed barricades put up by police and forcibly entered the road leading to the 'dharna'.
At least two policemen were killed and many others injured when Pakistani Taliban militants seized a counter-terrorism centre and took some people hostage in the Bannu district of Pakistan's troubled Khyber Pakhtunkhwa province.
'The 1971 War was our greatest military victory.' 'It had so many stories of exceptional valour and leadership.'
Damage from new shenanigans can be contained if regulators move quickly when something does not smell right, counsels Debashis Basu.
Perhaps the finance ministry or NITI Aayog could take a detailed look at what governments actually deliver and at what cost; how their services can be improved and expanded where necessary; how much money can be saved through doing things differently; and how many things the government does which it can safely leave to the private sector, argues T N Ninan.
Retail investment demand for gold bars and coins as well as central bank purchases pushed the global gold demand by 28 per cent to 1,181.5 tonnes in the September quarter, according to the World Gold Council report. The total global demand stood at 921.9 tonnes during the July-September quarter of 2021, the World Gold Council's 'Gold Demand Trends Q3 2022' showed on Tuesday. Investment was down 47 per cent year-on-year as gold backed Exchange Traded Fund (ETF) investors responded to a challenging combination of higher interest rates and a strong US dollar with significant outflows of 227 tonnes.
A round-up of Wednesday's action in the UEFA Champions League.
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