Together, BRICS nations account for 47 per cent of the world’s...
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Announcements by US to have substantial implications for global trade: WTO DG
"While the situation is rapidly evolving, our initial estimates...
Fitch cuts China’s credit rating on rising debt, weakening finances
"The downgrade reflects our expectations of a continued weakening...
No govt, LIC veto post privatization of IDBI Bank
The government earlier this month invited bids for the sale of a 60.72 percent stake in IDBI Bank, which is 45.48 percent owned by the government and 49.24 percent by the Life Insurance Corporation of India (LIC). The official said that post-privatization, the...
Punjab announces to restore old pension scheme for state govt employees
"We have taken an in-principle decision to this effect in a cabinet meeting. This will benefit lakhs of employees," he said while adding that modalities will be worked out. Chandigarh: The Punjab government on Friday decided to restore the old pension scheme for its...
IDBI Bank privatisation: LIC to recover its investment by time of sale
LIC had bought a 51 per cent stake in IDBI Bank in 2019 for Rs 21,624 crore at an average price of Rs 61 per share. Following a QIP issue in December 2020, the stake of LIC came down to 49 per cent New Delhi: State-owned insurance behemoth LIC is expected to recover...
Vivek Joshi named new DFS secy, Alka Upadhyaya new road and transport secy
Vivek Joshi, Registrar General of India and Census Commissioner Registrar General of India and Census Commissioner, Ministry of Home Affairs, Vivek Joshi, will be the new secretary, Department of Financial Services, in place of Malhotra New Delhi: Registrar General of...
Govt must set moderate divestment targets, DIPAM Secy
High targets lead to a perception that the government will sell minority stakes in state-run companies, prompting a fall in share prices of such firms, Pandey said. New Delhi: The Indian government should focus on privatisation of state-run companies instead of...
Centre seeks waiver in key norm for IDBI Bank stake sale
Earlier this month, India invited bids for a 60.72% stake in IDBI Bank -- which is 45.48% owned by the government and 49.24% by state-owned Life Insurance Corp (LIC) -- after dragging its feet for years New Delhi; The Indian government is in talks with the market...
Maharasthra Covid cases up; new Omicron subvariants BQ.1, XBB reported from state
On October 17, India detected its first case of Omicron's BQ.1 subvariant in a sample of a patient from Pune. The BQ.1 is a descendant of BA.5, which is behind the 60 per cent Covid cases in the United States (US), as per reports Mumbai: A meeting between Union Health...
India taking action against spamming, says FM Sitharaman
Finance Minister Nirmala Sitharaman Even in the newer data or digital-based kind of services, which are being extended to people like the account aggregator, there is a conscious attempt to make sure that the consent of the data owner is used and used for that...
Number of Indian poor people fell by about 415 mn between 2005-06 and 2019-21, a ‘historic change, says UN
"Despite tremendous gains, the ongoing task of ending poverty for the 228.9 million poor people in 2019/2021 is daunting — especially as the number has nearly certainly risen since the data were collected'' The number of poor people in India fell by about 415 million...
FPIs withdraw Rs 7,500 cr from Indian equities in Oct on rate hike concerns
This came following an outflow of over Rs 7,600 crore in September on the hawkish stance of the US Fed and the sharp depreciation in the rupee "Expectation of further and aggressive rate hikes by the US Fed, depreciating rupee, fears of a recession and continuation of...