Mumbai: The Indian banking sector, including NBFCs (non-banking financial companies), 'continues to be resilient (and) strong', Reserve Bank of India governor Shaktikanta Das said in an apparent reference to concerns over lenders' exposure to the embattled Adani Group. After Das unveiled the central bank's monetary policy recommendations - including a repo rate hike of 25...
Mumbai: With core inflation not subdued, the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) increased the repo rate by 25 basis points (bps) to 6.5 per cent as per the general expectation of experts. As a matter of fact, RBI Governor Shaktikanta Das, announcing the upward revision in the repo rate, said the...
Mumbai: Shares in business tycoon Gautam Adani's flagship firm nosedived again on Wednesday as the conglomerate fought short-seller allegations of accounting fraud. Adani Enterprises stocks were down 30 per cent on the Bombay Stock Exchange minutes before the bourse's scheduled close, their fifth straight day of losses. The rout has wiped out around $92 billion of...
By Prashant Jha New Delhi: The political test of the final full budget of the Bharatiya Janata Party (BJP)-led government before the 2024 elections was based on a simple metric — would it be enough to sustain the party’s multi-class alliance or would budget measures fracture that wide alliance? On this yardstick, union finance minister Nirmala...
Alphabet CEO Sundar Pichai in a recent town hall meeting announced a 'significant reduction' in annual bonuses for all roles above the senior vice president level. Pichai himself is likely to see a reduction in salary, as his compensation is closely linked to the company's performance. While Pichai did not explicitly mention taking a...
In a major push to the Digital India initiative, the digital payment transactions of India in 2022 were more than the combined digital payments of UK, Germany, France and the US. This was stated by Union Minister of Railways, Communications, Electronics and Information Technology Ashwini Vaishnaw at the World Economic Forum in Davos. “India’s digital payments...
New Delhi: Finance Minister Nirmala Sitharaman has said that she is sensitive about the pressures faced by the middle class, as she too is from the same class of society. The finance minister said that being from the middle class herself, she was aware of the pressures on it and therefore the government has not...
New Delhi: Microsoft Chairman and CEO Satya Nadella said that the company will be "making changes that will result in the reduction of our overall workforce by 10,000 jobs through the end of FY23 Q3 (third quarter)". Microsoft currently has more than 220,000 employees, and this round of layoffs affects around 5 percent of its...
New Delhi: India has reiterated its position as a resilient economy providing stable policy to the global investors at the World Economic Forum (WEF) at Davos. India's focus areas at WEF this year are investment opportunities, infrastructural landscape and its inclusive and sustainable growth story. Taking forward the strategy and presence of India during WEF Annual...
