Politics
RBI penalises 5 banks including Axis, ICICI, BoB, and others, BFSI News, ET BFSI
The Reserve Bank of India (RBI) on Friday imposed monetary penalties on five banks, three of those are private lenders including Axis Bank, ICICI Bank, and IDBI Bank. Other two are public sector banks including Bank of Baroda, and Bank of Maharashtra, for deficiencies...
Trump calls on Fed once again to lower rates after solid April jobs report
Jerome Powell, chairman of the US Federal Reserve, during an Economic Club of Chicago event in Chicago, Illinois, US, on Wednesday, April 16, 2025. Jamie Kelter Davis | Bloomberg | Getty ImagesPresident Donald Trump on Friday issued his latest call for the U.S....
President vows to revoke tax-exempt status
President Donald Trump on Friday said his administration will revoke Harvard University's tax-exempt status, escalating his previous threats against the Ivy League school and potentially expanding an ongoing legal battle."It's what they deserve!" Trump wrote in a...
INDIA RUPEE-Rupee hits six-month peak before retreating on likely central bank intervention, ET BFSI
MUMBAI, - The Indian rupee soared past 84 per U.S. dollar to touch a near six-month peak on Friday before reversing course on the back of likely dollar buying intervention by the central bank, via state-run lenders, traders said.Strong portfolio inflows and culling of...
India central bank working group recommends longer hours for interbank money markets, ET BFSI
MUMBAI, - A working group set up by the Indian central bank has recommended longer operating hours for the interbank money markets, while maintaining the current schedule for the bond and forex markets, according to a notice issued on Friday.The Reserve Bank of India...
Mike Waltz used Signal app at White House day before ouster
U.S. National Security Advisor Mike Waltz checks his mobile phone while attending a cabinet meeting held by U.S. President Donald Trump at the White House in Washington, D.C., U.S., April 30, 2025. Evelyn Hockstein | ReutersFormer White House national security advisor...
Rs 2000 notes worth Rs 6,266 cr still in circulation after withdrawal 2 yrs ago, ET BFSI
Mumbai: The high value Rs 2000 notes worth Rs 6,266 crore are still in circulation after two years of the Reserve Bank withdrawing the currency, according to official data. The Rs 2000 banknotes continue to be legal tender. On May 19, 2023, the Reserve Bank of India...
Russia war in Ukraine ‘not going to end any time soon,’ JD Vance says
U.S. Vice President JD Vance waves as he boards Air Force Two on May 1, 2025 in Charleston, South Carolina.Pool | Getty Images News | Getty ImagesU.S. Vice President JD Vance has warned Russia's full-scale invasion of Ukraine is not likely to come to an end "any time...
Trump plans to unveil federal budget proposal on Friday
U.S. President Donald Trump at the White House on May 1, 2025 in Washington, DC. Andrew Harnik | Getty Images News | Getty ImagesU.S. President Donald Trump plans to unveil his budget proposal for the 2026 fiscal year on Friday and send it to Congress, according to a...
RBI announces new portfolio allocation for four Deputy Governors after Poonam Gupta’s appointment, ET BFSI
The Reserve Bank of India (RBI) has announced the revised distribution of responsibilities among its Deputy Governors following the appointment of Poonam Gupta, who officially assumed charge on 2nd of May. Gupta will oversee key economic and policy departments, while...
Transformation of debt collection strategy of Central Bank of India with Spocto X, ET BFSI
The Central Bank of India (CBoI), one of the oldest and most widespread public sector banks, wanted to improve its debt recovery mechanism and overall user experience.With better UX becoming the primary driver for good engagement and impactful results, the bank wanted...
Farage’s Reform UK Party support surges, wins closest ever by-election
Nigel Farage (C), leader of the Reform UK party, celebrates the victory of Sarah Pochin, the party's candidate, in the Runcorn & Helsby by-election at the DCBL Stadium in Widnes, north-west England, in the early hours of May 2, 2025. Oli Scarff | Afp | Getty...
Trump nominates Mike Waltz as UN ambassador
U.S. National Security Advisor Mike Waltz joins U.S. Vice President JD Vance for a visit to the U.S. military's Pituffik Space Base in Greenland on March 28, 2025. Jim Watson | Via ReutersPresident Donald Trump said Thursday that he will nominate Mike Waltz to be the...
Trump national security advisor Mike Waltz expected to leave
National Security Advisor Michael Waltz looks at his phone as he prepares for a TV interview at the White House on May 01, 2025 in Washington, DC. This week marks the first 100 days of U.S. President Donald Trump's second term. Andrew Harnik | Getty Images News |...
Chamber of Commerce asks Trump for tariff exclusions
The U.S. Chamber of Commerce is urging the Trump administration to immediately implement a "tariff exclusion process" in order to keep the U.S. economy from falling into a recession and inflicting "irreparable harm" on small businesses.In a letter first obtained by...
Trump calls China ‘chief-ripper-offer’ on trade
US President Donald Trump speaks during a cabinet meeting in the Cabinet Room of the White House in Washington, DC, on April 30, 2025. Jim Watson | Afp | Getty ImagesPresident Donald Trump on Wednesday called China the leading candidate for the "chief-ripper-offer" on...
Banks’ rate transmission accelerates on RBI liquidity surge; MPC likely to hold in June, ET BFSI
RBIIndia's monetary policy transmission is accelerating on the back of the RBI’s liquidity support and an accommodative stance, with market rates already reflecting effective easing even as the Monetary Policy Committee (MPC) is likely to hold rates in June.According...
U.S. and Ukraine sign landmark minerals deal
Earth and minerals are loaded onto trucks at an open-pit mine near the frontline, despite the threat of bombing by Russian invading forces on February 26, 2025 in Donetsk Region, Ukraine.Pierre Crom | Getty Images News | Getty ImagesThe U.S. and Ukraine have signed a...
Trump India trade deal moving ‘as fast as possible’: Navarro
President Donald Trump's top trade advisor Peter Navarro said Wednesday that the White House is moving in "Trump time" as they negotiate a tariff deal with India, "which is to say, as fast as possible.""In Indian democracy, it's got to go through the prime minister...
Elon Musk goodbye Trump Cabinet, claims DOGE saved $160 billion
Tesla CEO Elon Musk reacts while wearing a cap with the words "Gulf of America" as he attends a cabinet meeting held by U.S. President Donald Trump at the White House in Washington, D.C., U.S., April 30, 2025. Evelyn Hockstein | ReutersDOGE chief Elon Musk claimed...
Trump trade advisor Navarro brushes off U.S. GDP drop
White House trade advisor Peter Navarro brushed off concerns Wednesday about the unexpected drop in U.S. gross domestic product last quarter, saying, 'We really like where we're at now," and pointing to a surge in new domestic investment."I got to say just one thing...
Trump blames Biden for GDP dip, defends tariffs, says ‘BE PATIENT!’
U.S. President Donald Trump speaks during a rally to mark his 100th day in office, at Macomb Community College in Warren, Michigan, U.S., April 29, 2025. Evelyn Hockstein | ReutersPresident Donald Trump on Wednesday blamed his predecessor and defended his sweeping...
RBI rate cuts to impact key profitability indicator of banks: Crisil, ET BFSI
The Reserve Bank's rate cuts will lead to an up to 0.20 per cent slip in return on assets, a key profitability indicator, for banks in FY26, a domestic rating agency said on Wednesday. Crisil Ratings said the RoA will contract by 0.10-0.20 per cent to 1.1-1.2 per cent...
Lars Klingbeil to become German vice chancellor, finance minister: SDP
Federal SPD Chairman Lars Klingbeil speaks in Trier.Photo by Harald Tittel/picture alliance via Getty ImagesThe Social Democratic Party's Lars Klingbeil has been tapped to become Germany's next finance minister in the incoming centrist coalition government, replacing...
What the new ATM withdrawal charges mean for customers, banks, ET BFSI
From May 1, 2025, withdrawing cash from ATMs beyond the free monthly limit will cost more, following the Reserve Bank of India’s decision to allow banks to raise charges. The hike is part of the regulator’s phased approach to account for rising operational costs....
RBI has room for more rate cuts, but with caution, says rate panel member, ET BFSI
India has room for more rate cuts, given the cooling inflation rate and elevated uncertainties around growth, but any further policy easing should be calibrated and done with caution, an external member of the country's rate-setting panel said late on Tuesday."Going...
Trump’s first 100 days in photos
There is one thing President Donald Trump's fans and foes can both agree on: A lot has happened over the past 100 days.The Republican president kicked off his nonconsecutive second term on Jan. 20 with a promise to usher in "the golden age of America."He has wasted no...
Commerce Secretary Lutnick says one trade deal is done, but waiting on approval from unnamed country’s leaders
U.S. Commerce Secretary Howard Lutnick speaks to members of the media near the White House in Washington, D.C., U.S., March 13, 2025.Nathan Howard | ReutersCommerce Secretary Howard Lutnick on Tuesday teased that the Trump administration has reached its first trade...
Trump White House ‘very close’ to India trade deal: Bessent
US Secretary of Treasury Scott Bessent speaks during the daily briefing in the Brady Briefing Room of the White House in Washington, DC, on April 29, 2025.Mandel Ngan | Afp | Getty ImagesTreasury Secretary Scott Bessent said Tuesday that the U.S. could be closing in...
White House blasts Amazon over tariff cost report: ‘Hostile and political act’
The White House on Tuesday slammed Amazon for reportedly planning to display the cost of President Donald Trump's tariffs next to the total price of products on its site."This is hostile and political act by Amazon," White House press secretary Karoline Leavitt told...
RBI ask banks to ensure Rs 100, Rs 200 notes dispense from ATMs, ET BFSI
The Reserve Bank of India (RBI) asked banks to ensure that ATMs dispense Rs 100 or Rs 200 denomination notes to enhance the availability of these currency notes to the public. Banks and White Label ATM Operators (WLAOs) have to implement the direction in a phased...
Alleged DHS Sec. Kristi Noem thief hit with federal charges
Kristi Noem, Homeland Security Secretary, during a meeting with US President Donald Trump and Nayib Bukele, El Salvador's president, in the Oval Office of the White House in Washington, DC, US, on Monday, April 14, 2025. Al Drago | The Washington Post | Getty ImagesA...
Trump investigates Harvard Law Review over race discrimination
People walk through Harvard Yard on the Harvard University campus in Cambridge, Massachussetts, on April 15, 2025.Joseph Prezioso | AFP | Getty ImagesThe Trump administration on Monday announced investigations into Harvard University and the Harvard Law Review after a...
White House names McNeill acting head of Transportation Security Administration
A Transportation Security Administration (TSA) agent's patch is seen as she helps travelers place their bags through the 3-D scanner at the Miami International Airport.Joe Raedle | Getty ImagesThe Trump administration has tapped a former White House official to serve...
RBI instructs all banks, financial companies, and other regulated entities to use PRAVAAH portal from 1st May, ET BFSI
The Reserve Bank of India (RBI) has given clear instructions that from May 1, 2025, all banks, financial companies, and other regulated entities must use the PRAVAAH portal to submit any applications for authorisations, licenses, and approvals.In an official statement...
RBI’s move to inject liquidity seen as a positive for bond prices, ET BFSI
Mumbai, The Reserve Bank has decided to inject more liquidity into the banking system through the purchase of Government bonds for an aggregate amount of Rs 1.25 lakh crore in May. The move is also expected to prop up bond prices, which had declined due to a sell-off...
European Union left reeling after Donald Trump’s first 100 days
European leaders have been left reeling after the first 100 days of U.S. President Donald Trump's second term saw increasing geopolitical and trade turmoil."It's unlike anything else we've seen before from the U.S. administration," European Union foreign policy chief...
U.S. House panel proposes moving FTC antitrust work to DOJ in budget package
The U.S. Capitol building is seen on April 28, 2025 in Washington, DC. Kayla Bartkowski | Getty ImagesThe U.S. House of Representatives Judiciary Committee on Monday said it proposed transferring the Federal Trade Commission's antitrust work to the Department of...
No Trump-Xi tariff talks underway, China says
U.S. President Donald Trump answers reporters' questions after exiting Marine One at the White House in Washington, D.C., U.S., April 27, 2025. Ken Cedeno | ReutersChina on Monday once again denied that it is in talks to resolve its tariff war with the United States,...
Elon Musk’s DOGE cuts may help Tesla, Neuralink avoid fines: memo
Elon Musk may skirt more than $2 billion in possible financial liabilities by exercising his influence over the federal government, a new report from Senate Democratic committee staffers out Monday alleges.Musk's 'Department of Government Efficiency' has brought...
60 Minutes reporter says none of us happy about top producer quitting
Scott Pelley attends the CBS Fall Schedule Celebration at Paramount Studios on May 02, 2024 in Los Angeles, California. Frazer Harrison | Wireimage | Getty Images"60 Minutes" correspondent Scott Pelley paid tribute Sunday to Bill Owens, the show's executive producer...
Putin announces 3-day ceasefire in May to mark 80 years since WW2 victory
Russian President Vladimir Putin visits a nuclear submarine base March 26, 2025, in Murmansk, Russia.Contributor | Getty Images News | Getty ImagesRussian President Vladimir Putin on Monday declared a three-day ceasefire in the war with Ukraine next month to mark the...
RBI rains on rich Indians’ offshore parade, BFSI News, ET BFSI
Here comes a bump on the road for rich Indian families busy building a corpus outside the country. Their best laid plans to give away their overseas wealth as ‘gifts’ to children — to pay for their EB-5 US visa, acquire properties abroad, and share a slice of the...
RBI Governor highlights India’s shift towards entrepreneurship and growing startup ecosystem, ET BFSI
Reserve Bank of India (RBI) Governor Sanjay MalhotrNEW DELHI: Reserve Bank of India (RBI) Governor Sanjay Malhotra said that the mindset of India's young generation has changed remarkably over the years, with many now preferring to become entrepreneurs rather than...
Trump’s approval rating drops; voters have doubts on economy: Polls
U.S. President Donald Trump speaks to members of the media as he departs for Rome, Italy, to attend Pope Francis' funeral, at the White House in Washington, D.C., U.S., April 25, 2025. Leah Millis | ReutersPresident Donald Trump's approval rating is dipping as he...
Trump Russia-Ukraine negotiations enter critical week: Rubio
U.S. Secretary of State Marco Rubio speaks to the media during a refueling stop at Shannon Airport in Shannon, Ireland, March 12, 2025, as he travels from talks with Ukraine in Saudi Arabia to attending a G7 Foreign Ministers meeting in Canada. Saul Loeb | Via...
White House journalists celebrate the First Amendment at the annual press dinner
There was no president. There was no comedian. What remained at the White House Correspondents' Association's annual dinner on Saturday night were the journalists and the First Amendment.The stripped-down festivities were a reflection of the somber tone in Washington...
RBI Governor Malhotra asks US industry to invest in India, BFSI News, ET BFSI
Washington, Reserve Bank Governor Sanjay Malhotra has exhorted the US industry to invest in India, stressing that the country continues to be the fastest growing major economy supported by policy consistency and certainty. Addressing the US-India Economic Forum...
Iran says ‘extremely cautious’ on success of nuclear talks with U.S.
United States Capitol building and an Iranian flag are seen at the National mall in Washington D.C., United States.Celal Gunes | Anadolu Agency | Getty ImagesIran and the United States have agreed to continue nuclear talks next week, both sides said on Saturday,...
Trump talks tougher on Russia, sits down with Zelenskyy
In this photo provided by the Ukrainian Presidential Press Office, Ukraine's President Volodymyr Zelenskyy, right, and President Donald Trump, talk as they attend the funeral of Pope Francis in Vatican, Saturday, April 26, 2025.Ukrainian Presidential Press Office via...
SC allows RBI to start fresh proceedings against big defaulters, ET BFSI
The Supreme Court on Friday said the Reserve Bank of India and banks can proceed afresh against big defaulters even as it set aside orders of various high courts that quashed criminal proceeding initiated against such borrowers and also stalled actions taken by the...
Trump and Ukraine’s Zelenskyy have ‘very productive’ meeting in Rome
U.S. President Donald Trump meets with Ukrainian President Volodymyr Zelenskyy at the White House in Washington, D.C., U.S., Feb. 28, 2025. Brian Snyder | ReutersU.S. President Donald Trump and Ukrainian leader Volodymyr Zelenskyy had a "very productive" meeting on...
RBI to auction new 10-year benchmark bond next week, ET BFSI
A new 10-year benchmark government bond is expected to be introduced next week, on May 2, as the existing benchmark paper now has a residual maturity of only 9.5 years, bond dealers said.However, with the new auction coming amid heightened tensions between India and...
U.S. Education Dept investigates UC Berkeley’s foreign funding disclosures
Demonstrators at UC Berkeley rally to support the Freedom to Speak, Freedom to Teach, and Freedom to Learn, For Everyone, at Sproul Plaza in Berkeley, Calif. on Wednesday, March 19, 2025. Santiago Mejia | Hearst Newspapers | Getty ImagesThe U.S. Department of...
Yale alums warn Treasury chief Scott Bessent of Trump fascism risk
U.S. Treasury Secretary Scott Bessent takes questions from reporters at the Institute of International Finance (IIF) Global Outlook Forum on sidelines of the IMF and World Bank’s 2025 annual Spring Meetings in Washington, D.C., U.S., April 23, 2025. Elizabeth Frantz |...
SC allows RBI to start fresh proceedings against big defaulters, ET BFSI
The Supreme Court on Friday said the Reserve Bank of India and banks can proceed afresh against big defaulters even as it set aside orders of various high courts that quashed criminal proceeding initiated against such borrowers and also stalled actions taken by the...
UK’s Reeves talks trade with US’s Bessent after stressing EU ties
U.S. Treasury Secretary Scott Bessent takes questions from reporters at the Institute of International Finance (IIF) Global Outlook Forum on sidelines of the IMF and World Bank’s 2025 annual Spring Meetings in Washington, D.C., U.S., April 23, 2025. Elizabeth Frantz |...
Luigi Mangione pleads not guilty to CEO murder
Luigi Mangione, the suspect in the killing of UnitedHealth Group chief executive Brian Thompson, appears in Manhattan Supreme Court on New York state murder and terrorism charges in New York City, U.S., Feb. 21, 2025. Curtis Means | Via ReutersLuigi Mangione pleaded...
FBI arrests judge in escalation of Trump immigration enforcement effort
Kash Patel, U.S. President Donald Trump’s nominee to be Director of the Federal Bureau of Investigation (FBI), testifies during his confirmation hearing before the Senate Judiciary Committee in the Dirksen Senate Office Building on Jan. 30, 2025 in Washington, DC.Anna...
George Santos to be sentenced in federal fraud case
Former New York congressman George Santos in 2024. New York Daily News | Tribune News Service | Getty ImagesFormer Rep. George Santos, whose web of lies about his life led to the New York Republican's expulsion from Congress, is set to be sentenced Friday morning in...
Russia tests U.S. patience, Trump rushes to clinch Ukraine peace deal
U.S. President Donald Trump looks on, on the day he signs executive orders in the Oval Office at the White House in Washington, D.C., U.S., April 23, 2025. Leah Millis | ReutersNearing the tone-setting 100th day of his second administration at the end of April, U.S....
RBI’s gold buying spree continues! 57.5 tonnes added to gold reserves; second highest in 7 years, ET BFSI
The Reserve Bank of India (RBI) acquired 57.5 tonnes of gold during FY25, expanding its holdings of safe haven assets whilst gold prices increased by over one-third during a period of instability in global financial markets. The RBI's gold acquisitions align with the...
Congress Republicans seek $27 billion for Golden Dome in Trump tax bill: Reuters
A view of the US Capitol building ahead of US President Donald Trump's address to a joint session of Congress in Washington, DC, on March 4, 2025. Alex Wroblewski | AFP | Getty ImagesRepublicans in the U.S. Congress plan to introduce a sweeping $150 billion defense...
Trump 2028 apparel fuels third White House term questions
A "Trump 2028" hat is seen for sale on Trumpstore.com, the Trump Organization's official retail website.Courtesy: Trump StoreThe online store for the Trump Organization on Thursday began selling red hats and T-shirts bearing the message "Trump 2028," fueling fresh...
South Korea calls for calm, orderly discussion in U.S. trade talks
South Korea's Trade, Industry and Energy Minister Ahn Duk-geun (right) arrives at Incheon International Airport on April 23, 2025, as he departs for Washington for finance and trade ministers' talks with the U.S.Jung Yeon-je | Afp | Getty ImagesSouth Korea has asked...
Trump tells Putin to 'STOP!' Russian strikes on Kyiv
Trump tells Putin to 'STOP!' Russian strikes on Kyiv
RBI’s cash influx seen a small relief amid global uncertainty, ET BFSI
By Swati Bhat and Siddhi NayakMUMBAI -The decision by India's central bank to cut rates and flood the banking system with cash will do little to immediately boost demand in Asia's third-largest economy as global uncertainties restrain corporate investment, bankers and...
Sebi tweaks framework for ESG Rating Providers using subscriber-pays model, ET BFSI
New Delhi, Markets regulator Sebi has tweaked the framework for ESG Rating Providers (ERPs), especially for those using a subscriber-pays model, requiring them to share ESG (Environmental, Social, and Governance) rating reports with both subscribers and the rated...
India better placed than peers on trade; door open for third RBI rate cut: DBS, ET BFSI
NEW DELHI: The Reserve Bank of India’s April policy meeting minutes indicate that the door is open for a third straight repo rate cut in June, believes Radhika Rao, Executive Director and Senior Economist at DBS Bank“The policy stance was revised to ‘accommodative’...
April MPC minutes show dovish shift; RBI signals support for growth amid global uncertainty, ET BFSI
April MPC minutes show dovish shift; RBI signals support for growth amid global uncertaintyThe Reserve Bank of India (RBI) maintained a distinctly dovish tone in the minutes of its April Monetary Policy Committee (MPC) meeting, reinforcing its shift toward supporting...
Confidence plummets among voters, new polls show
US President Donald Trump speaks with reporters outside the White House in Washington, DC, on April 23, 2025. Saul Loeb | Afp | Getty ImagesAmericans' confidence in President Donald Trump's ability to manage the U.S. economy has plummeted since he regained the White...
States sue Trump in bid to block new tariffs
NY Attorney General Letitia James speaks during a press conference on Feb. 14, 2025 in New York City.Michael M. Santiago | Getty ImagesA dozen states sued President Donald Trump and his administration on Wednesday, seeking a court order declaring that his new tariffs...
Treasury Sec. Bessent says China, U.S. could do big trade deal
Scott Bessent, US treasury secretary, at the IIF Global Outlook Forum during the International Monetary Fund (IMF) and World Bank Spring meetings in Washington, DC, US, on Wednesday, April 23, 2025. Kent Nishimura | Bloomberg | Getty ImagesTreasury Secretary Scott...
Treasury chief Scott Bessent delivers speech
[The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.]Treasury Secretary Scott Bessent is delivering the keynote address to the Institute of International Finance in Washington, D.C., on Wednesday.After...
India seen resilient amid rising global headwinds, says RBI Bulletin, ET BFSI
India seen resilient amid rising global headwinds, says RBI BulletinIndia's economy is expected to remain resilient in the face of rising global uncertainties, supported by strong domestic fundamentals, according to the Reserve Bank of India’s latest bulletin. The...
RBI’s new liquidity norms expected to boost bank lending by ₹3 lakh crore, ET BFSI
The Reserve Bank of India's final liquidity coverage ratio norms for banks are expected to free up ₹2.7-3 lakh crore in funds for lending, economists said.This is a significant boost for banks struggling to raise deposits and will support the economy though cheaper...
At least 20 feared killed in militant attack on tourists in Indian Kashmir, security sources say
Local Kashmiris and Indian police, along with armed forces, gather outside the hospital to receive the dead and wounded after gunmen attacked Indian tourists on April 22, 2025 in Anantnag south of Srinagar, India. Yawar Nazir | Getty Images News | Getty ImagesAt least...
RBI cancels licence of Aurangabad-based Ajantha Urban Co-op Bank Maryadit, ET BFSI
The Reserve Bank on Tuesday said it has cancelled the licence of Ajantha Urban Co-operative Bank Maryadit, Aurangabad, as the lender does not have adequate capital and earning prospects. Consequently, the bank ceases to carry on banking business, with effect from the...
Fed Chair Powell won’t be fired but should cut interest rates
U.S. President Donald Trump speaks at the White House in Washington, D.C., U.S., April 22, 2025.Kevin Lamarque | ReutersPresident Donald Trump on Tuesday said he has "no intention" of firing Federal Reserve Chair Jerome Powell before his term leading the U.S. central...
RBI sets lower digital deposit buffer for lenders, gives one-year time for implementation, ET BFSI
The RBI also said banks will have to adjust the market value of bonds by applying haircuts, or valuation adjustments, which are in line with those applicable under the central bank's liquidity facilities.MUMBAI: The Reserve Bank of India on Monday directed lenders to...
Enrollment decline hits school funding, triggers cuts
Public schools across the United States are facing a financial reckoning in 2025 as federal pandemic relief funds expire and student enrollment continues to decline, according to data from the Georgetown Edunomics Lab.The funding crisis stems largely from the end of...
Trump administration proposes major shake-up of U.S. State Department
U.S. Secretary of State Marco Rubio speaks alongside U.S. President Donald Trump during a Cabinet meeting at the White House on April 10, 2025 in Washington, DC. Anna Moneymaker | Getty ImagesThe Trump administration is proposing a major overhaul of the U.S. State...
Trump stands ‘strongly behind’ Hegseth, White House says
President Donald Trump stands "strongly behind" Secretary of Defense Pete Hegseth, White House press secretary Karoline Leavitt said Tuesday, despite new reports that he discuss highly sensitive military information on a Signal chat with family and friends.Hegseth is...
China tariff fight will deescalate
U.S. Secretary of the Treasury Scott Bessent walks to speak to the news media about the latest tariff announcement from President Donald Trump, at the White House in Washington, D.C., U.S. April 9, 2025. Leah Millis | ReutersTreasury Secretary Scott Bessent told...
US tariff hike clouds India’s export outlook, add pressure on domestic demand: RBI, ET BFSI
The Reserve Bank of India (RBI), in its latest monthly bulletin released on Tuesday, raised concerns about the impact of the recent trade tariff hikes by the United States on the Indian economy. The bulletin says these higher tariffs could reduce India’s exports and...
RBI eases final liquidity coverage ratio norms, offers relief to banks, ET BFSI
Reserve Bank of India on Monday released the much-anticipated final rules on computation of liquidity coverage ratio, giving banks a breather as they are seen as less stringent than what was proposed earlier.The LCR norms, aimed at mitigating risk arising from a...
Indian central bank’s new liquidity norm to free up $35 billion, likely boosting credit growth, ET BFSI
By Dharamraj DhutiaMUMBAI -The Reserve Bank of India's relatively relaxed final guidelines on banks' liquidity coverage ratio (LCR) is expected to free up capital worth up to 3 trillion rupees ($35.24 billion) that could boost credit growth by as much as 2 percentage...
RBI permits minors above 10 years to operate bank accounts independently, ET BFSI
The Reserve Bank on Monday permitted banks to allow minors above the age of 10 years to open and operate savings/ term deposit accounts independently. The Reserve Bank of India has issued revised instructions on opening and operation in the deposit accounts of minors....
Indian bond yields rise on RBI’s revised liquidity norms, BFSI News, ET BFSI
Indian government bond yields inched up early on Tuesday, snapping a week-long drop, after the central bank's tweak to liquidity management norms dampened demand for government securities.The benchmark 10-year bond yield was at 6.3365% as of 10:15 a.m. IST, compared...
FM Nirmala Sitharaman, ET BFSI
India's quest for sustained growth over the next two decades hinges on a new paradigm, driven by bold reforms, enhanced domestic capabilities, and strategic institutional collaborations suited for the evolving global landscape, Finance Minister Nirmala Sitharaman said...
T Rabi Sankar re-appointed as RBI DG for one year, BFSI News, ET BFSI
The Appointments Committee of the Cabinet on Tuesday approved the reappointment of T. Rabi Sankar as Deputy Governor of the Reserve Bank of India for a one-year term.As per the release, this will take effect on 3rd of May, 2025.T. Rabi Sankar took over as the Deputy...
Walmart, Home Depot, Lowe’s, Target at White House
President Donald Trump listens to reporters' questions as he meets with Italian Prime Minister Giorgia Meloni in the Oval Office at the White House on April 17, 2025 in Washington, DC.Win Mcnamee | Getty ImagesPresident Donald Trump will meet Monday afternoon with...
Trump DHS Secretary Kristi Noem robbed at D.C. restaurant
US Secretary of Homeland Security Kristi Noem speaks at the Border Security Expo at the Phoenix Convention Center in Phoenix, Arizona, April 8, 2025. Rebecca Noble | Afp | Getty ImagesA thief stole Homeland Security Secretary Kristi Noem's purse while she was dining...
Trump Powell attacks interest rates Fed
Jerome Powell, chairman of the US Federal Reserve, during an Economic Club of Chicago event in Chicago, Illinois, US, on Wednesday, April 16, 2025.Jamie Kelter Davis | Bloomberg | Getty ImagesPresident Donald Trump on Monday ratcheted up his pressure campaign on...
India’s soon-to-be-introduced bond forwards seen boosting demand for state debt, ET BFSI
By Khushi Malhotra and Dharamraj DhutiaMUMBAI, - India's upcoming bond forwards are set to boost demand for state debt and lower borrowing costs for sub-national issuers, a move investors say could help deepen the country's local bond market.The Reserve Bank of India...
Financial markets must play crucial role to fulfil India’s aspirations: RBI Governor, ET BFSI
India's financial markets must play a crucial role if the country is to successfully navigate global challenges and achieve its long-term aspirations, said Reserve Bank of India (RBI) Governor Sanjay Malhotra.Speaking at the 24th FIMMDA-PDAI Annual Conference in Bali...
World leaders react to the death of Pope Francis
Pope Francis greets people as he attends the weekly general audience in St. Peter's square at the Vatican, March 8, 2023. Guglielmo Mangiapane | ReutersTributes and condolences poured in from around the world following news of the death of Pope Francis, who passed...
India close to finalising comprehensive bilateral trade deal with US, ET BFSI
Mumbai, India is close to finalising a comprehensive Bilateral Trade Agreement (BTA) with the US, which is expected to facilitate zero-duty imports under the production-linked incentive (PLI) schemes and enhance bilateral trade, targeted to reach $500 billion by 2030,...
How much gold does the RBI hold?, BFSI News, ET BFSI
How much gold does the RBI hold?ve ImageThe Reserve Bank of India (RBI), has significantly increased its gold holdings in the past year, emerging as one of the world’s most aggressive buyers of the precious metal. According to data from the World Gold Council (WGC),...
Building inclusive credit systems for the unbanked, ET BFSI
“Universal and affordable access to formal banking services is essential for achieving financial inclusion and empowerment. It integrates the poor into the economic mainstream and plays a crucial role in the development of marginalised communities”: Finance Minister...
India’s growth potential will uplift global trade, recognises IMF and World Bank: Nirmala Sitharaman, ET BFSI
San Francisco (California) [US], April 21 (ANI): Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, highlighted that global financial institutions like the IMF and the World Bank have recognised India's strong growth potential and its important role...
Vance arrives in India, to hold talks with Modi under US tariffs shadow
U.S. Vice President JD Vance arrives on April 21, 2025 in New Delhi, India. Vance will hold talks with Prime Minister Narendra Modi as India attempts to boosts ties with the Trump administration and avoid steep U.S. tariffs. Kenny Holston-Pool | Getty ImagesU.S. Vice...
Draft Trump order would make sweeping State Department changes
(L-R) US President Donald Trump, Vice President JD Vance and Secretary of State Marco Rubio (R) look on during a meeting with Israeli Prime Minister Benjamin Netanyahu in the Oval Office of the White House in Washington, DC, on April 7, 2025. Saul Loeb | Afp | Getty...
Trump ‘flouting the courts’ in Abrego Garcia case
U.S. Senator Chris Van Hollen (D-MD) speaks to the media during a visit to El Salvador to advocate for the release of Kilmar Abrego Garcia in San Salvador, El Salvador, April 16, 2025. Jose Cabezas | ReutersMaryland Sen. Chris Van Hollen said Sunday that his trip to...
Vance to visit India for bilateral talks on trade and economic ties
U.S. Vice President JD Vance shakes hands with Indian Prime Minister Narendra Modi during a bilateral meeting, at the residence of the U.S. Ambassador in Paris, France, Feb. 11, 2025.Leah Millis | ReutersU.S. Vice President JD Vance will embark on a four-day visit to...
Anti-Trump protesters turn out to New York, cities nationwide
SENSITIVE MATERIAL. THIS IMAGE MAY OFFEND OR DISTURB People attend the "Protect Migrants, Protect the Planet" protest in New York City on April 19, 2025.Caitlin Ochs | ReutersOpponents of President Donald Trump's administration took to the streets of communities large...
White House says Harvard letter was ‘unauthorized’: NYT
The White House letter sent to Harvard University outlining a list of demands about the university's hiring and admissions was sent without authorization, according to the New York Times, citing two unnamed people familiar with the matter.The April 11 letter, which...
Trump to reclassify many federal workers, making them easier to fire
U.S. President Donald Trump looks on on the day he signs executive orders in the Oval Office at the White House in Washington, D.C., U.S., April 17, 2025. Evelyn Hockstein | ReutersU.S. President Donald Trump said on Friday his administration is set to change the...
Iran, U.S. to hold talks in Rome in bid to reach nuclear deal
A newspaper featuring the headline story on indirect negotiations between Iran and the United States in Muscat, Oman, is displayed at a newsstand in Tehran, Iran, on April 12, 2025. Fatemeh Bahrami | Anadolu | Getty ImagesIran and the United States will hold a new...
US Supreme Court temporarily halts deportations of Venezuelan migrants
Salvadoran prison guards escort alleged members of the Venezuelan gang Tren de Aragua and the MS-13 gang recently deported by the U.S. government to be imprisoned in the Terrorism Confinement Center (CECOT) prison, as part of an agreement with the Salvadoran...
U.S. judge temporarily blocks mass firings at consumer bureau
The US Consumer Financial Protection Bureau (CFPB) headquarters in Washington, DC, US, on Sunday, Feb. 2, 2025. Bloomberg | Bloomberg | Getty ImagesA federal judge on Friday halted the mass firings carried out Thursday afternoon at the U.S. Consumer Financial...
Trump will study whether to fire Fed Chair Powell, adviser says
President Donald Trump, right, speaks as Jerome Powell, Trump's nominee as chairman of the Federal Reserve, listens during a nomination announcement in the Rose Garden of the White House in Washington, D.C., Nov. 2, 2017.Olivier Douliery | Bloomberg | Getty...
U.S. proposes lighter sanctions on Russia as part of peace plan with Ukraine: Bloomberg
Ukrainian servicemen operate a tank on a road near the border with Russia, in the Sumy region of Ukraine, on August 14, 2024. The Ukrainian army entered Russia's Kursk region on August 6, capturing dozens of settlements in the biggest offensive by a foreign army on...
RBI to purchase gilts worth Rs 20k crore next week, BFSI News, ET BFSI
MUMBAI : The RBI on Thursday announced that it will buy govt securities worth Rs 20,000 crore on April 22 through open market operations. This will ensure adequate liquidity in the system and ensure interest rates don’t shoot up. Earlier in the day, the central bank...
Trump talked to Warsh about firing Powell for Fed, report says
Kevin Warsh, former governor of the US Federal Reserve, during The Semafor World Economy Summit in Washington, DC, US, on Thursday, April 18, 2024. Samuel Corum | Bloomberg | Getty ImagesPresident Donald Trump has spoken with former Federal Reserve Governor Kevin...
RBI imposes penalty on Kotak Mahindra Bank, IDFC First Bank, PNB, ET BFSI
The RBI on Thursday said it has imposed penalties on Kotak Mahindra Bank, IDFC First Bank, and Punjab National Bank for certain deficiencies in regulatory compliance. The Reserve Bank of India (RBI), in a statement said a penalty of Rs 61.4 lakh has been imposed on...
Trump threatens Harvard ability to enroll foreign students
U.S. President Donald Trump hosts Italian Prime Minister Giorgia Meloni and her visiting officials in the Cabinet Room at the White House on April 17, 2025 in Washington, DC. Win Mcnamee | Getty ImagesThe Trump administration is threatening to revoke Harvard...
Musk’s SpaceX is frontrunner to build Trump’s missile shield: Reuters
FILE PHOTO: Elon Musk gives a tour to U.S. President-elect Donald Trump and lawmakers of the control room before the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, U.S., November 19, 2024 .Brandon Bell | Via ReutersElon Musk's...
Markets will ‘crash’ if Trump can fire Fed’s Powell, Elizabeth Warren warns
Sen. Elizabeth Warren, D-Mass., warned Thursday that U.S. markets will "crash" if Federal Reserve Chairman Jerome Powell can be fired by President Donald Trump.The comment from Warren, a frequent Powell critic, on CNBC's "Squawk on the Street" came hours after Trump...
FIU-IND, RBI sign MoU to strengthen anti-money laundering framework, ET BFSI
The Reserve Bank of India (RBI) and the Financial Intelligence Unit-India (FIU-IND) on Thursday signed a Memorandum of Understanding (MoU) in New Delhi to enhance coordination and facilitate seamless exchange of information in the fight against money laundering and...
SEBI chief urges corporates to raise the bar on governance, ET BFSI
Mumbai, SEBI Chairman Tuhin Kanta Pandey on Thursday said corporates must ensure high governance standards as any failure can trigger ripple effects across the market economy.Addressing the CII Corporate Governance Summit here, the market regulator chief said that...
Trump tariffs inviting corruption, Dems tell Bessent, Lutnick
Sen. Elizabeth Warren, D-Mass., conducts a news conference in the U.S. Capitol to voice opposition to the Senate Republicans' budget resolution on Thursday, April 3, 2025.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesDozens of Democratic lawmakers are warning that...
RBI’s proposed blended interest rates in co-lending to benefit borrowers: ICRA, ET BFSI
New Delhi [India], April 17 (ANI): Rating agency ICRA believes domestic borrowers will benefit from the RBI's proposed introduction of 'blended interest rates' in co-lending loans.On April 9, RBI has shared a draft framework to specify the regulatory norms and...
RBI signals confidence in banking sector, holds off activating countercyclical capital buffer, ET BFSI
The Reserve Bank of India (RBI) stated that it will not activate the Countercyclical Capital Buffer (CCyB) at this time, citing current economic conditions that do not necessitate such a measure.The CCyB framework, established in February 2015, is designed to ensure...
RBI expands NBFC audit ambit to cover their service providers, ET BFSI
Mumbai: The banking regulator has widened the scope of its audits for non-banking financial companies that collaborate with multiple fintech firms acting as loan service providers (LSPs), multiple sources aware of the matter told ET.As part of this enhanced inspection...
Trump fires Democratic board members of credit union watchdog
Todd Harper, chairman of the National Credit Union Administration (NCUA), during a House Financial Services Committee hearing in Washington, DC, on Tuesday, May 16, 2023.Nathan Howard | Bloomberg | Getty ImagesThe White House has fired two Democratic board members of...
Probable cause for Trump admin contempt in deportation case
A federal judge found probable cause to hold the Trump administration in criminal contempt for ignoring his order barring the deportation of alleged Venezuelan gang members to a notorious El Salvador prison."The Court ultimately determines that the Government's...
California suing Trump to stop tariffs
US President Donald Trump and First Lady Melania Trump are greeted by California Governor Gavin Newson upon arrival at Los Angeles International Airport in Los Angeles, California, on Jan. 24, 2025, to visit the region devastated by the Palisades and Eaton...
The European Union braces for more U.S. tariffs despite talks
In this photo illustration, a double exposure images shows U.S. President Donald Trump against the EU flag.Sopa Images | Lightrocket | Getty ImagesThe European Union is preparing for more tariffs from the United States, despite conversations with the U.S. President...
In a fog of uncertainty, Fed policy storm could be approaching, ET BFSI
By Ann Saphir and Howard SchneiderWASHINGTON, - U.S. Federal Reserve officials, in agreement that President Donald Trump's tariffs have unmoored their sense of the economy's direction, may face an intense internal debate about the right monetary policy response,...
RBI’s new collateral rule may impact gold loan accessibility, limits use of gold ETFs and MFs, ET BFSI
The Reserve Bank of India's (RBI) new draft framework for gold loans that introduces stricter collateral rules could undermine the flexibility and financial innovation needed to expand access to gold-backed credit.The proposed guidelines, which apply to all lending...
Not activating countercyclical capital buffer, says RBI, BFSI News, ET BFSI
The Reserve Bank on Tuesday said it has decided against activating countercyclical capital buffer (CCyB) as it is not needed in the present circumstances. The framework on CCyB was put in place by the Reserve Bank of India (RBI) in terms of guidelines in February...
Many IRS workers interested in resignation offer
A traffic light is red outside the U.S. Internal Revenue Service building in Washington, D.C., on Feb. 20, 2025.Kent Nishimura | ReutersAbout 20,000 Internal Revenue Service employees have expressed interest in accepting the Trump administration's latest deferred...
Co-op banks, NBFCs hit the most as penalties touch Rs 56.32 crore in 2024, ET BFSI
India’s financial regulators tightened the compliance screws in 2024, imposing a total of Rs 56.32 crore in monetary penalties across 304 instances, with co-operative banks and NBFCs drawing the most flak, according to a report by corporate law firm AK and Partners...
Judge orders Trump officials to testify about efforts to return wrongly deported man
A U.S. judge on Tuesday demanded U.S. officials provide documents and answer questions under oath about what it had done to secure the return of a man wrongly deported to El Salvador, ramping up an inquiry into whether the Trump administration defied a court...
Ladki Bahin scheme to continue, no question of scrapping it: Ajit Pawar, ET BFSI
Mumbai, Maharashtra Deputy Chief Minister Ajit Pawar has said the government's flagship Ladki Bahin scheme to provide financial assistance to women will continue and that there is no question of scrapping it. Under the Mukhyamantri Majhi Ladki Bahin Yojana, which is...
Rep. Ocasio-Cortez fundraising soars as she blasts Trump
Rep. Alexandria Ocasio-Cortez (D-NY) speaks during a stop on the ‘Fighting Oligarchy’ tour with U.S. Sen. Bernie Sanders (I-VT) at Grand Park on April 12, 2025 in Los Angeles, California. Mario Tama | Getty ImagesRep. Alexandria Ocasio-Cortez raised $9.6 million...
Trump eyes deporting U.S. citizens to foreign prisons
WASHINGTON, DC - APRIL 14: US President Donald Trump, during a meeting with Nayib Bukele, El Salvador's president, in the Oval Office of the White House in Washington, DC, US, on Monday, April 14, 2025. Al Drago | The Washington Post | Getty ImagesPresident Donald...
Trump shredding credibility with allies as China benefits: John Bolton
U.S. President Donald Trump's moves to take China to task on trade are likely to backfire as his sweeping global tariffs hit allies as well as rivals, according to former national security advisor John Bolton."This is certainly not the way you treat your friends. You...
RBI’s draft gold loan norms may tighten access for borrowers, slow sector growth, ET BFSI
The Reserve Bank of India’s (RBI) proposed guidelines for lending against gold are expected to curb growth among non-banking financial companies (NBFCs) and make it harder for some borrowers to access credit. While the central bank says the draft is aimed at...
DOJ charges in Tesla, GOP arson in New Mexico
Republican Party headquarters is damaged in a fire in Albuquerque, New Mexico, U.S., in this handout image released on March 30, 2025.New Mexico GOP | Via ReutersFederal authorities arrested a New Mexico man in connection with arson attacks on a Tesla showroom and the...
India moves to deepen junk debt market by allowing bad loan securitisation, ET BFSI
By Siddhi Nayak and Khushi MalhotraMUMBAI - The Indian central bank's plan to allow lenders to bundle bad loans into tradable securities will draw foreign portfolio investors (FPIs) and private credit funds, helping deepen the country's junk debt market, analysts and...
Govt to provide major part of ₹10000 crore startup fund to sectors like new age tech, AI, ET BFSI
As per the government's eligibility conditions, entities are recognised as 'startups' under the Startup India initiative by the department.NEW DELHI: The Union Ministry of Commerce and Industry will allocate a major part of the second ₹10,000 crore Fund of Funds...
Singapore dissolves parliament ahead of general election
Singapore, city skyline and The Merlion, duskWalter Bibikow | Stone | Getty ImagesSingapore President Tharman Shanmugaratnam on Tuesday dissolved the city-state's parliament, paving the way for a general election, on the advice of Prime Minister Lawrence Wong. A...
U.S. businesses sue to block Trump tariffs
U.S. President Donald Trump attends a cabinet meeting at the White House in Washington, D.C., U.S., April 10, 2025.Nathan Howard | ReutersA group of five small businesses on Monday sued President Donald Trump, seeking to block new tariffs that he has imposed on...
Harvard University rejects Trump demand on DEI, imperils funding
A person runs past Dunster House at Harvard University on March 17, 2025 in Cambridge, Massachusetts. Scott Eisen | Getty ImagesHarvard University on Monday rejected demands by the Trump administration to eliminate its DEI programs and screening international students...
El Salvador President Bukele won’t return Abrego Garcia
U.S. President Donald Trump meets with El Salvador President Nayib Bukele in the Oval Office at the White House in Washington, D.C., U.S., April 14, 2025. Kevin Lamarque | ReutersEl Salvador President Nayib Bukele said Monday that he would not return Kilmar Abrego...
Trump tariff deals coming, not recession: Hassett
White House Council of Economic Advisers Chairman Kevin Hassett speaks with reporters outside the White House in Washington, DC, on March 7, 2025. Anna Moneymaker | Getty Images News | Getty ImagesNational Economic Council Director Kevin Hassett said Monday that "more...
Why Trump’s nuclear talks with Iran could be far more successful than Biden’s
This combination of pictures created on April 09, 2025 shows US Middle East envoy Steve Witkoff after a meeting with Russian officials at Diriyah Palace, in Riyadh, Saudi Arabia, on February 18, 2025 (L); and Iran's Foreign Minister Abbas Araghchi speaking to AFP...
Rs 33 lakh crore of collateral-free loans sanctioned, 68 pc beneficiaries women: Minister, ET BFSI
Nagpur, Union minister Pankaj Chaudhary on Monday said more than Rs 33 lakh crore of collateral-free loans have been given to 52 crore people under Mudra Yojana for starting businesses and 68 per cent of the beneficiaries are women. The Minister of State for Finance...
RBI’s draft gold loan norms to hit NBFCs more than banks, ET BFSI
The Reserve Bank of India's (RBI) draft guidelines on gold loans are expected to impact non-banking financial companies (NBFCs) more significantly than banks, with analysts anticipating a slowdown in disbursements and growth for gold loan-focused lenders in the near...
RBI’s FY25 dividend to centre expected to top Rs 2.5 lakh crore, ET BFSI
Mumbai: Surplus transfer for FY25 from the central bank to the government could easily top ₹2.5 lakh crore, economists and analysts said, dwarfing last year's mega dividend payout by nearly a fifth. This would exceed the Centre's budgeted estimates for FY26 with...
Govt to provide major part of Rs 10,000 cr startup fund to sectors like new age tech, AI, ET BFSI
New Delhi, The commerce and industry ministry will allocate a major part of the second Rs 10,000 crore Fund of Funds Scheme (FFS) for startups to budding entrepreneurs in sectors such as new-age technology, artificial intelligence, and machine building, an official...
RBI’s FY25 dividend to centre expected to top Rs 2.5 lakh crore, ET BFSI
Mumbai: Surplus transfer for FY25 from the central bank to the government could easily top ₹2.5 lakh crore, economists and analysts said, dwarfing last year's mega dividend payout by nearly a fifth. This would exceed the Centre's budgeted estimates for FY26 with...
Trump, top aides fuel tariff confusion by questioning reciprocal exemptions
U.S. President Donald TrumpNathan Howard | ReutersPresident Donald Trump and his top trade officials on Sunday added to the confusion over his administration's tariff plans, including newly announced exemptions for reciprocal tariffs on electronic products such as...
China urges Trump to heed ‘rational voices’ on reciprocal tariffs
China's Commerce Ministry called the U.S. tariff exemptions a "small step" and urged U.S. President Donald Trump to "completely abolish" the reciprocal tariffs, which include a 145% duty on imports from China."We urge the U.S. to heed the rational voices of the...
Russia and Ukraine accuse each other of failing to pause strikes
ANTALYA, TURKIYE- APRIL 12: Russian Foreign Minister Sergey Lavrov speaks on the second day of the diplomatic forum on April 12, 2025 in Antalya, Türkiye. The Antalya Diplomacy Forum 2025 (ADF), organized for the fourth time in Antalya under the auspices of President...
U.S. won’t say whether it’s facilitating return of mistakenly deported man, despite judge’s order
U.S. military personnel escort alleged members of the Venezuelan gang Tren de Aragua and the MS-13 gang recently deported by the U.S. government to be imprisoned in the Terrorism Confinement Center (CECOT) prison, as part of an agreement with the Salvadoran...
Iran and U.S. envoys hold 1st negotiation over Tehran’s nuclear program, and talk face-to-face
Iran and the United States will hold more negotiations next week over Tehran's rapidly advancing nuclear program, Iranian state television reported Saturday at the end of the first round of talks between the two countries since President Donald Trump returned to the...
Trump exempts phones, computers, chips from new tariffs
Smartphones and computers will be exempted from President Donald Trump's reciprocal tariffs, according to new guidance from U.S. Customs and Border Protection.The guidance comes after Trump earlier this month imposed 125% tariffs on products from China, a move that...
Luigi Mangione asks judge to block death penalty in CEO murder case
Luigi Mangione, the suspect in the killing of UnitedHealth Group chief executive Brian Thompson, appears in Manhattan Supreme Court on New York state murder and terrorism charges in New York City, U.S., Feb. 21, 2025.Steven Hirsch | Via ReutersLawyer for Luigi...
RBI proposes new route for offloading bad loans, BFSI News, ET BFSI
MUMBAI: RBI has proposed a new route for banks and NBFCs to offload bad loans, allowing them to bundle and sell stressed assets directly to investors through special purpose entities set up by regulated financial firms. Until now, only asset reconstruction companies...
DOJ fires longtime spokesman who worked on Trump investigations
FILE PHOTO: Former Special Counsel Robert Mueller stands before the House Judiciary Committee as he prepares to testify at a hearing on the Office of Special Counsel's investigation into Russian Interference in the 2016 Presidential Election" on Capitol Hill in...
5 law firms commit $600 million in pro bono legal work
U.S. President Donald Trump attends a cabinet meeting at the White House in Washington, D.C., U.S., April 10, 2025. Nathan Howard | ReutersPresident Donald Trump on Friday said five more law firms have struck agreements with his administration that involve them...
DOJ blows judge’s deadline for revealing plan to return Abrego Garcia from El Salvador prison
U.S. Attorney General Pam Bondi looks on during her first press conference at the Justice Department in Washington, D.C., U.S., Feb. 12, 2025. Craig Hudson | ReutersThe Department of Justice missed a Friday morning deadline set by a federal judge in Maryland to inform...
Democrats ask SEC to probe stock market manipulation
Sen. Adam Schiff, D-Calif., questions Brooke Rollins, President Donald Trump's nominee to be Agriculture secretary, during her Senate Agriculture, Nutrition and Forestry Committee confirmation hearing in Dirksen building on Thursday, January 23, 2025. Tom Williams |...
Trade advisor Peter Navarro hypes stock market after plunge
Senior trade adviser Peter Navarro attends an interview with CNN, at the White House, in Washington, D.C., U.S., April 10, 2025. Evelyn Hockstein | ReutersPresident Donald Trump's trade advisor Peter Navarro on Friday encouraged Americans to buy stocks one day after...
Lenders to be allowed to bundle and sell bad loans to investors, ET BFSI
Mumbai: RBI has proposed a new route for banks and NBFCs to offload bad loans, allowing them to bundle and sell stressed assets directly to investors. Until now, only asset reconstruction companies handled such assets. The move, announced with the Apr monetary policy,...
Austria flags US tariffs, urges strengthening cooperation between partners, ET BFSI
London, Apr 11 (PTI) Vienna cited the "strain" caused by the new US tariffs and urged strengthening economic cooperation with partner countries, as Finance Minister Nirmala Sitharaman met her Austrian counterpart during her Europe trip. The Austrian Federal Ministry...
Why Trump’s tariffs won’t push China and Europe closer
The flags of the European Union (L) and China stand side by side at the Chancellery on June 20, 2023 in Berlin, Germany.Sean Gallup | Getty Images News | Getty ImagesChina and the European Union are unlikely to become close allies quickly, analysts say, even as U.S....
Growth risks to nudge India central bank towards deeper rate cuts, economists say, ET BFSI
By Dharamraj DhutiaMUMBAI, - The Reserve Bank of India's rate-cutting cycle could be deeper than expected as downside risks to growth and a benign inflation outlook could prompt the central bank to be more accommodative, economists said.Growth in Asia's third-largest...
India’s bond market holding strong thanks to RBI’s clear rate trajectory: B Prasanna, ET BFSI
"There are times when strong equity means strong inflows and strong inflows means bond flow. It is also good for bonds and so bond yields can fall," says B Prasanna, ICICI Bank.One side markets are worried about slowdown and what I have learnt over the years from...
Supreme Court upholds order on Kilmar Abrego Garcia
Jennifer, center, whose husband Kilmar Abrego Garcia was deported by ICE, is hugged by a staff member of CASA, at the CASA Multicultural Center during a press conference ahead of Garcia's hearing.The Washington Post | Getty ImagesThe Supreme Court on Thursday upheld a...
RBI proposes credit boost for infra bonds to ease bank loans and improve ratings, ET BFSI
The central bank's draft guidelines on Wednesday sought to incentivise more bond issues for long-gestation infrastructure projects and boost their ratings, allowing the proceeds of money raised from credit enhanced bonds to pay off bank loans.'Infrastructure companies...
Deposit rate cuts unlikely soon despite RBI’s rate cut, BFSI News, ET BFSI
Deposit rate cuts unlikely soon despite RBI’s rate cutDespite a cumulative 50 basis point reduction in the policy rate by the Reserve Bank of India (RBI) since February, banks are unlikely to lower deposit rates immediately due to persistent deposit tightness and...
Trump announces 90-day ‘pause’ on reciprocal tariffs for all but China, raises tariff on China to 125%, ET BFSI
In a major development, US President Donald Trump announced on April 9 a 90-day 'pause' on reciprocal tariffs for all but China. Trump's sudden announcement pulled the world back just in time from the brink of an all-out, full-on trade war, and financial markets from...
India eyes quick trade deal with US, ET BFSI
India is eager to expedite a trade agreement with the United States following US President Donald Trump's unexpected decision to temporarily pause the implementation of reciprocal tariffs on many countries whilst increasing duties on China.Trump announced an increase...
NaBFID signs MoU with New Development Bank to accelerate financing infra projects, ET BFSI
New Delhi, The National Bank for Financing Infrastructure and Development (NaBFID) on Thursday said it has signed a Memorandum of Understanding (MoU) with the New Development Bank (NDB) creating a deep and sustainable infrastructure financing market and developing a...
World breathes sigh of relief after U.S. tariff reprieve; China’s duties kick in
Tariff suspension 'the first right step,' Polish finance minister saysAndrzej Domanski, Poland's finance minster, during a news conference at the Economic and Financial Affairs Council (ECOFIN) meeting at the European Council headquarters in Brussels, Belgium, on...
RBI’s policy stance turning accommodative shows signs of easing: SBI Report, ET BFSI
The Reserve Bank of India (RBI) has taken a more accommodative stance in its monetary policy, as inflation expectations have shown signs of easing. According to a recent report by the State Bank of India (SBI), the central bank's decisions are not only influenced by...
FM Sitharaman, BFSI News, ET BFSI
LONDON/ DELHI: Finance minister Nirmala Sitharaman said on Wednesday that the govt is focusing on ensuring that domestic demand stayed strong to maintain the underlying strength of the Indian economy. Her comments come amid fears that US tariffs would cause global...
Trump must negotiate trade with China
Ray Dalio, billionaire and founder of Bridgewater Associates, speaks to members of the media while departing a meeting with House Budget Committee Republicans on Capitol Hill in Washington, D.C., on March 25, 2025.Daniel Heuer | Bloomberg | Getty ImagesBridgewater...
Trump announces 90-day tariff pause for at least some countries
U.S. President Donald Trump holds up a chart while speaking during a “Make America Wealthy Again” trade announcement on April 2, 2025 in Washington, DC.Chip Somodevilla | Getty Images News | Getty ImagesPresident Donald Trump on Wednesday announced a 90-day pause on...
DOJ ends crypto enforcement team, shifts focus to terrorism and fraud
Department of Justice Headquarters in Washington, D.C. on April 18, 2022.Kent Nishimura | Los Angeles Times | Getty ImagesThe U.S. Justice Department abruptly shut down its National Cryptocurrency Enforcement Team, signaling a major shift in how the federal government...
Trump White House can’t ban AP from Oval Office, judge rules
A federal judge ruled Tuesday that the White House cannot bar Associated Press reporters and photographers from the Oval Office, Air Force One and other tightly controlled spaces where a handful of other media outlets are admitted to cover President Donald...
Trump reciprocal tariffs take effect on imports from around the world
President Donald Trump speaks on the day he signs energy-related executive orders, at the White House in Washington, April 8, 2025.Nathan Howard | ReutersA new round of steep tariffs imposed by President Donald Trump took effect early Wednesday morning on products...
RBI shifts to growth-supportive mode with dovish rate cut; Economists predict more easing ahead, ET BFSI
) cut the repo rate by 25 basis points (bps) to 6.25 per cent on Wednesday, aligning with market expectations, while pivoting to an “accommodative” stance amid rising global headwinds and domestic growth-inflation dynamics. Economists widely interpreted the move as a...
German centrist parties reach coalition deal
Coalition negotiations between the CDU/CSU and SPD.Michael Kappeler | Picture Alliance | Getty ImagesGermany's centrist parties on Wednesday finalized a coalition agreement, paving the way for the Christian Democratic Union, Christian Social Union and Social...
European Union approves first set of retaliatory tariffs on U.S. imports
European flags fly in front of the Berlaymont building.Omar Havana | Getty Images News | Getty ImagesThe European Union on Wednesday voted to approve its first set of retaliatory measures to counter tariffs imposed by the U.S. on steel and aluminum.The European...
Trump tariff turmoil puts pressure on Reserve Bank of India to act, ET BFSI
India’s central bank is expected to cut interest rates on Wednesday around the same time US import tariffs take effect, with investors primed for more market turmoil and the possibility Governor Sanjay Malhotra will take stronger steps to bolster the economy against a...
China retaliates, Dimon predicts recession
Sen. Warren: Tariffs are causing 'economic chaos' Sen. Elizabeth Warren moved to force a vote on a resolution to repeal Trump's tariffs by canceling the emergency declaration used to justify them."By putting across-the-board tariffs with virtually every nation, on...
Sanjay Malhotra announces 25 bps rate cut to 6%, ET BFSI
Reserve Bank of India (RBI) Governor Sanjay Malhotra The Reserve Bank of India (RBI) Governor Sanjay Malhotra presented the first monetary policy for the financial year 2025-26 announcing an unanimously rate cut by 25 bps to 6%.The Governor also announced that the MPC...
IRS chief quits after immigration data-sharing deal
The acting head of the Internal Revenue Service plans to resign, the Treasury Department said on Tuesday, a move that comes after the agency struck a controversial deal to share tax data on undocumented immigrants with federal agents.Commissioner Melanie Krause will...
RBI sees inflation for FY26 at 4% on back of soft food, fuel prices, ET BFSI
RBI sees inflation for FY26 at 4% on back of soft food, fuel pricesThe Reserve Bank of India (RBI) has exuded confidence that retail inflation will align with the target of 4 per cent over the enxt 12 months period on the back of soft food and fuel prices."The outlook...
Top highlights from Governor Malhotra’s Policy briefing, ET BFSI
The Reserve Bank of India, in its first monetary policy review for FY26, delivered a much-anticipated rate cut, slashing the repo rate by 25 basis points to 6 per cent, the decision for which was unanimous. RBI Governor Sanjay Malhotra, delivering the Monetary Policy...
China to raise reciprocal tariffs on U.S. goods to 84%
The Chinese flag flies in Tiananmen square, as seen from the Great Hall of the People where meetings of the National People's Congress continued in Beijing on March 6, 2025.Greg Baker | Afp | Getty ImagesChina on Wednesday said it would increase its reciprocal tariffs...
India offers a compelling growth opportunity for foreign banks: FM Sitharaman, ET BFSI
New Delhi, India offers a compelling growth opportunity for foreign banks and the government is actively encouraging foreign investment in the banking sector, Union Finance Minister Nirmala Sitharaman has stressed.Addressing the India-UK Investor Roundtable discussion...
RBI to ramp up scrutiny of co-lending arrangements with generic regulatory framework, ET BFSI
RBI to ramp up scrutiny of co-lending arrangements with generic regulatory framework Highlighting the potential of the co-lending business practices, the Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday announced the expansion of the scope for...
RBI sees 6.5% GDP growth in FY26 amid Trump tariff tensions, ET BFSI
RBI Governor Sanjay Malhotra The Reserve Bank of India has projected India's GDP growth for 2025-26 on the back of sustained demand from rural areas and revival in urban consumption amid changing global economic outlook after the recent trade tariff related measures...
Keeping guards ready, MPC kept its powder dry for rainier days amid US tariffs, ET BFSI
Samir Arora’s observations come at a time when investors are preparing for new reciprocal US tariffs.Amid the ‘fast changing’ global economic outlook, triggered by the recent Trump tariffs, the Reserve Bank of India (RBI) has decided not to frontload all its...
What it means for the economy and borrowers, ET BFSI
RBI shifts stance to ‘Accommodative’: What it means for the economy and borrowersIn a significant policy signal, the Reserve Bank of India (RBI) on Wednesday changed its monetary policy stance from ‘neutral’ to ‘accommodative’ while announcing a 25 basis points cut in...
RBI vouches for securitisation of stressed assets through market-based mechanism, ET BFSI
RBI vouches for securitisation of stressed assets through market-based mechanismThe Reserve Bank of India vouches for a prudentially structured securitisation transaction to be the enabler for resolution of stressed assets. With this intent, Governor Sanjay Malhotra...
SCOTUS pauses deadline for return of Maryland man mistakenly deported to El Salvador
The U.S. Supreme Court is seen on April 07, 2025 in Washington, DC. Kayla Bartkowski | Getty ImagesChief Justice John Roberts agreed Monday to pause a midnight deadline for the Trump administration to return a Maryland man mistakenly deported to a notorious prison in...
China and EU reassess trading relationship
U.S. is ‘unrecognizable’ and resembles an emerging market, says Euronext CEO CEO of Euronext Stephane Boujnah delivers a speech during the Euronext 13th annual conference in Paris on March 18, 2025. Thibaud Moritz | Afp | Getty ImagesStephane Boujnah, CEO of Euronext,...
RBI likely to infuse over Rs 4 lakh crore liquidity in FY26 as global headwinds mount, ET BFSI
RBI likely to infuse over Rs 4 lakh crore liquidity in FY26 as global headwinds mountThe Reserve Bank of India is expected to extend its aggressive liquidity support into FY26, as it seeks to shield the economy from rising global risks, including fallout from new US...
Will RBI surprise with a 50 bps rate cut on April 9?, BFSI News, ET BFSI
Will RBI surprise with a 50 bps rate cut on April 9?While a 25 basis point cut remains the consensus expectation, rising fears of a global recession and trade disruptions have strengthened the case for a front-loaded rate reduction.With global and domestic...
RBI named most innovative financial institution globally by Global Finance, ET BFSI
Mumbai (Maharashtra) [India], April 8 (ANI): The Reserve Bank of India (RBI) has been recognised as the Most Innovative Financial Institution globally in Global Finance's prestigious 2025 Innovators list, the central bank said in a post on X.This marks a historic...
PM Modi, BFSI News, ET BFSI
New Delhi, Prime Minister Narendra Modi highlighted on Tuesday that the Pradhan Mantri MUDRA Yojana (PMMY), launched 10 years ago on April 8, has turned out to be a massive success in empowering the poor at the grassroots with over 52 crore loans given worth Rs 33...
FM Sitharaman hails women empowerment, financial inclusion of marginalised sections, ET BFSI
New Delhi, Union Finance Minister Nirmala Sitharaman on Tuesday said it is heartening to note that nearly 68 per cent of the total Pradhan Mantri MUDRA Yojana (PMMY) loan accounts have been sanctioned to women, becoming a tool for empowerment and enabling them to...
Market chaos puts White House on defense
Ackman walks back accusation Lutnick 'profits when our economy implodes' Ackman is apologizing for accusing Lutnick of being "indifferent" to a stock market crash because he stands to profit from it."It was unfair of me to lash out at @howardlutnick," writes Ackman."I...
Stock market earthquake must be weathered with calm say EU leaders
In this photo illustration, a double exposure images shows U.S. President Donald Trump against the EU flag.Sopa Images | Lightrocket | Getty ImagesEuropean Union leaders urged a calm response to U.S. President Donald Trump's tariffs that have battered global markets,...
India swap markets signal RBI could do more than just a 25-bp rate cut this week, ET BFSI
By Dharamraj DhutiaMUMBAI, - India's overnight indexed swap (OIS) rates have fallen in the last three sessions, signaling that besides just a quarter-point rate cut this week, the central bank could also change its stance or opt for a bigger reduction.OIS rates, the...
Nirmala Sitharaman set for week-long official visit to UK, Austria, ET BFSI
New Delhi [India], April 7 (ANI): Finance Minister Nirmala Sitharaman will embark on an official visit to the UK and Austria on Monday (today). Her visit will conclude on April 13.According to a statement from the Ministry of Finance, the finance minister is scheduled...
PM Mudra Yojana crosses key milestone of 52 crore loans worth Rs 32.61 lakh crore to poor in 10 years, ET BFSI
New Delhi, Over 52 crore loans worth Rs 32.61 lakh crore have been sanctioned under the PM Mudra Yojana as the scheme completes 10 years of its launch on April 8, 2015, according to official figures.The scheme has helped to spread business growth to small towns and...
How RBI is looking to tackle climate-related financial risks, BFSI News, ET BFSI
How RBI is looking to tackle climate-related financial risksThe Reserve Bank of India (RBI) is reinforcing its role in tackling climate change-related financial risks by building a green financing ecosystem through regulations, capacity building, and innovation. RBI...
I do not support tariffs exceeding 10%
Stanley Druckenmiller at CNBC's Delivering Alpha on Sept. 28, 2022.Scott Mlyn | CNBCBillionaire investor Stanley Druckenmiller made a rare post on the social media platform X on Sunday, reiterating his opposition to tariffs exceeding 10%.The founder of Duquesne Family...
Economists, BFSI News, ET BFSI
MUMBAI: Economists expect RBI to cut interest rates by 25 basis points (100bps = 1 percentage point) at the conclusion of its three-day monetary policy meeting on April 9, despite global trade uncertainties triggered by US President Donald Trump's tariffs. Inflation...
India’s forex reserves rise to USD 665.4 billion, major jump in nearly five months: RBI, ET BFSI
New Delhi [India], April 6 (ANI): In a significant development, India's foreign exchange reserves rose from USD 6.596 billion to USD 665.396 billion in the week that ended on March 28, extending gains for the fourth straight week, official data released by RBI...
Commerce Secretary Lutnick tariffs are coming
President Donald Trump holds an executive order about tariffs increase, flanked by U.S. Commerce Secretary Howard Lutnick, in the Oval Office of the White House in Washington, D.C., U.S., February 13, 2025. Kevin Lamarque | ReutersThe Trump administration will remain...
Stock market crash not part of Trump’s strategy
White House economic adviser Kevin Hassett stands next to U.S. President Donald Trump in the Oval Office of the White House in Washington, D.C., U.S., March 7, 2025. Leah Millis | ReutersA crashing stock market is not part of an intentional strategy by President...
USAID team fired while in Myanmar earthquake zone, ex-official says
A flag outside of the U.S. Agency for International Development (USAID) headquarters is seen on February 03, 2025 in Washington, DC.Kevin Dietsch | Getty ImagesThree U.S. aid workers were laid off while in Myanmar helping the rescue and recovery from the country's...
U.S. starts collecting Trump’s new 10% tariff, smashing global trade norms
Containers are pictured at an industrial port in Tokyo, Japan April 2, 2025. REUTERS/Kim Kyung-HoonKim Kyung-hoon | ReutersU.S. customs agents began collecting President Donald Trump's unilateral 10% tariff on all imports from many countries on Saturday, with higher...
Startup India desk to be established in DPIIT as helpline for entrepreneurs: Piyush Goyal, ET BFSI
Commerce and Industry Minister Piyush Goyal announced on Saturday that a Startup India desk will be set up within the Department for Promotion of Industry and Internal Trade (DPIIT) to act as a helpline for emerging entrepreneurs across India. The desk will be...
Trump administration argues judge can’t order return of man mistakenly deported to El Salvador
Salvadoran police officers escort alleged members of the Venezuelan gang Tren de Aragua recently deported by the U.S. government to be imprisoned in the Terrorism Confinement Center (CECOT) prison, as part of an agreement with the Salvadoran government, in Tecoluca,...
Economists take issue with Trump’s tariff formula, arguing rate is inflated
The formula at the core of President Donald Trump's tariff announcement that continues to rattle markets is bewildering economists, who say it is based on flawed assumptions.Economists argue that Trump's formula relies on a flawed, underestimation of a key metric,...
Protesters tee off against Trump and Musk in “Hands Off!” rallies across the U.S.
Opponents of President Donald Trump and billionaire Elon Musk rallied across the U.S. on Saturday to protest the administration's actions on government downsizing, the economy, human rights and other issues.More than 1,200 "Hands Off!" demonstrations were planned by...
Trump tariffs live updates: Global trade reacts
Trump claims China has been "hit much harder" in tariff warU.S. President Donald Trump delivers remarks on tariffs in the Rose Garden at the White House in Washington, D.C., on April 2, 2025.Leah Millis | ReutersPresident Donald Trump on Saturday claimed that China...
Congress has power, but question of will
President Donald J Trump addresses a joint session of Congress as Vice President JD Vance and Speaker of the House Mike Johnson (R-LA) listen in the Capitol building's House chamber on Tuesday, March 04, 2025 in Washington, DC. Jabin Botsford | The Washington Post |...
India’s financial system has become more resilient, diverse: SEBI, ET BFSI
New Delhi, India's financial system has become more resilient and diverse, driven by rapid economic growth, and regulatory framework in securities markets has been enhanced in line with international practice to manage and prevent emerging risks, the Securities and...
U.S. Senate Republicans pass measure to move forward on Trump’s tax cuts
The U.S. Capitol building viewed through the bars of standard barricades in Washington, U.S., April 4, 2025. Leah Millis | ReutersThe U.S. Senate approved a Republican budget blueprint early on Saturday that aims to extend trillions of dollars worth of President...
NABARD extends Rs 5,830 cr assistance to Jharkhand in FY25 to augment rural infra, ET BFSI
Under the Rural Infrastructure Development Fund (RIDF), NABARD extended Rs 1,988 crore to the state government for critical infrastructure projects.The National Bank for Agriculture and Rural Development (NABARD) on Friday said it has extended record assistance of Rs...
RBI proposes regulations on export, import transactions, ET BFSI
The Reserve Bank on Friday came out with revised draft regulations that cover export and import transactions under FEMA with an aim to promote ease of doing business. As per the revised draft, if the export proceeds of an exporter remain unrealised for a period beyond...
Trump clemency recipient Jonathan Braun arrested, jailed
The seal of the US Department of Justice in Washington, DC on March 21, 2024. Mandel Ngan | Afp | Getty ImagesA New York federal judge on Friday ordered the jailing of convicted drug dealer and predatory lender Jonathan Braun, whose 10-year prison sentence was...
China says market has spoken after Trump tariffs spark stocks rout
A man checks his phone next to an electronic board showing stocks on the Heng Seng Index in Hong Kong on April 3, 2025.Peter Parks | Afp | Getty ImagesChina's Foreign Ministry on Saturday said "the market has spoken" following the U.S. imposition of sweeping new...
RBI rolls out verified WhatApp channel for public awareness, ET BFSI
The Reserve Bank of India (RBI) on Friday announced a launch of its verified WhatsApp channel under the ongoing public awareness initiative, ‘RBI Kehta Hai’.Source: RBIAiming important financial information more accessible to citizens, especially in remote areas,...
RBI proposes regulations on export, import transactions, BFSI News, ET BFSI
The Reserve Bank on Friday came out with revised draft regulations that cover export and import transactions under FEMA with an aim to promote ease of doing business. As per the revised draft, if the export proceeds of an exporter remain unrealised for a period beyond...
India’s business correspondent sector to cross Rs 147 billion in FY25, ET BFSI
New Delhi, Driven by rising rural banking demand, government-led financial inclusion schemes, and digital innovation, India's business correspondent sector was set to surpass Rs 147 billion in FY25, a report showed on Friday.The sector is experiencing a remarkable...
RBI to issue Rs 10, Rs 500 notes bearing signature of Guv Malhotra, ET BFSI
Mumbai: The Reserve Bank of India on Friday said it will shortly issue Rs 10 and Rs 500 denomination banknotes in Mahatma Gandhi (New) Series, bearing the signature of Governor Sanjay Malhotra. The design of these notes is similar in all respects to Rs 10 and Rs 500...
China punches back, sending U.S. markets tumbling
China tariffs slap back at Trump's planChina's President Xi Jinping attends the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco, California, U.S. November 17, 2023. Carlos Barria | ReutersChina's finance ministry on Friday said it will impose a...
Signal use eyed in Pentagon probe of Defense chief Hegseth
U.S. Defense Secretary Pete Hegseth looks on, as President Donald Trump (not pictured) delivers remarks, in the Oval Office at the White House, in Washington, D.C., U.S., March 21, 2025. Carlos Barria | ReutersThe Pentagon's internal watchdog opened an investigation...
Trump tariffs are ‘pure madness,’ former Italian PM says
Former Prime Minister Enrico Letta, speaks during ICAM in April 2025.Europa Press News | Europa Press | Getty ImagesU.S. President Donald Trump's so-called 'Liberation Day' trade tariffs are "madness, pure madness", according to former Italian Prime Minister and Dean...
Goldman Sachs cuts FY26 growth forecast to 6.1%, expects 100 bps rate cut, ET BFSI
India’s real GDP growth forecast for FY26 is seen trickling down to 6.1 per cent, citing the economic drag from steep US tariff hikes announced by President Donald Trump, as per Goldman Sachs. The move comes as part of a broader protectionist trade policy under...
Trump lifts sanctions on Putin ally’s wife Karina Rotenberg
Russian billionaire , businessman Boris Rotenberg (L) listens to his wife Karina Rotenberg (R) during the awarding ceremony at the 2017 Formula 1 Russian Grand Prix in Sochi , Russia, April, 30, 2017. Mikhail Svetlov | Getty Images News | Getty ImagesThe Trump...
What the president says he wants to accomplish
President Donald Trump holds a signed executive order after delivering remarks on reciprocal tariffs during an event in the Rose Garden on April 2, 2025.Saul Loeb | Afp | Getty ImagesPresident Donald Trump has cited a host of reasons to impose steep new tariffs on...
India lenders propose RBI switch to overnight liquidity management, new benchmark, ET BFSI
MUMBAI - Indian lenders have suggested that the central bank move to an overnight liquidity infusion instrument from a longer duration tool and adopt a new benchmark for overnight rates, five sources aware of the matter said on Friday."The 14-day repo has outlived its...
South Korea upholds impeachment of President Yoon, ousting him from office
South Korea’s impeached President Yoon Suk Yeol arrives for his impeachment trial at the Constitutional Court in Seoul, South Korea, on Jan. Kim Hong-ji | ReutersSouth Korea's Constitutional Court Friday upheld the impeachment of President Yoon Suk Yeol, ousting him...
Eric Adams announces he will run as independent in New York mayoral race
New York City Mayor Eric Adams holds a press briefing after former Governor Andrew Cuomo enters the mayoral race on March 03, 2025 in New York United States.Selcuk Acar | Anadolu | Getty ImagesNew York City Mayor Eric Adams will run for reelection as an independent,...
Trump tariffs live updates: Stock market tumbles
Trump declares victory with new tariffs: 'THE PATIENT LIVED'Trump quickly declared his "reciprocal" tariff rollout a success."THE OPERATION IS OVER!" Trump wrote in an all-caps Truth Social post. "THE PATIENT LIVED, AND IS HEALING. THE PROGNOSIS IS THAT THE PATIENT...
RBI may need to roll over net short positions to keep liquidity, ET BFSI
The Reserve Bank of India's net short positions in the forward book reached a record high of $78.6 billion in February, with the majority of the positions-$45 billion-in the three-month to one year category. These positions may have to be rolled over and more could be...
Trump’s list of countries facing reciprocal tariffs
U.S. President Donald Trump delivers remarks on tariffs in the Rose Garden at the White House in Washington, D.C., on April 2, 2025.Leah Millis | ReutersPresident Donald Trump on Wednesday laid out the U.S. "reciprocal tariff" rates that more than 180 countries and...
Around 50% of Mudra accounts belong to SC, ST and OBCs; boosting financial independence: SBI Report, ET BFSI
The Pradhan Mantri Mudra Yojana (PMMY) is boosting financial independence among marginalized groups as nearly 50 per cent of the 52 crore PMMY accounts belong to individuals from Scheduled Castes (SC), Scheduled Tribes (ST), and Other Backward Classes (OBC), says a...
Finance Ministry’s Pankaj Chaudhary reacts to Trump tariffs, ET BFSI
Minister of State for Finance Pankaj Chaudhary on Thursday reacted to United States' President Donald Trump announcing 26% tariffs on India, saying the country is assessing tariff hike imposed by the US and its impact on the country. "For (Donald) Trump, it's America...
UK escapes worst of Trump’s tariff wrath but says levies are ‘threat’
US President Donald Trump inspects a Guard of Honour at Buckingham Palace on June 3, 2019 in London, England.Toby Melville | Getty ImagesU.K. Business Secretary Jonathan Reynolds said the country faces a "threat" to its open economy from any global fallout from...
What’s behind the enormous pop in shares of media meme stock Newsmax
Conservative news channel Newsmax raised $75 million Monday by offering 7.5 million shares at $10. This was not technically an IPO, it was a Regulation A offering. Reg A+, as it is called, was established in 2015 under the JOBS Act. It allows small companies to raise...
Trump said Elon Musk to leave DOGE in coming months
Elon Musk speaks during the first cabinet meeting hosted by U.S. President Donald Trump, at the White House in Washington, DC, U.S., February 26, 2025. Brian Snyder | ReutersPresident Donald Trump told Cabinet members last week that billionaire Elon Musk will leave...
Trump Media shares drop after warning the president’s trust and other insiders could sell stock
Thomas Fuller | SOPA Images | Lightrocket | Getty ImagesTrump Media's stock tumbled on Wednesday after the company disclosed in a securities filing the possibility of significant stock sales, including by insider shareholders such as the president's trust.The parent...
Judge dismisses criminal case against New York Mayor Eric Adams
New York City Mayor Eric Adams leaves the United States District Court for the Southern District of New York, U.S., February 19, 2025. Brendan Mcdermid | ReutersA federal judge on Wednesday dismissed the criminal corruption case against New York City Mayor Eric...
Trump tariffs: live updates
New tariffs will take effect 'immediately' White House Press Secretary Karoline Leavitt holds a press briefing, as headlines from articles on U.S. President Donald Trump's tariffs are displayed, at the White House in Washington, D.C., U.S April 1, 2025. Carlos Barria...
Addl Secy, MeitY, ET BFSI
Source: LinkedIn (BIS)Amid the evolution of technology – in the era of LLMs and Generative AI – in almost every sectors, the most important question is, “How to build the trust?” asserted Abhishek Singh, Additional Secretary, Ministry of Electronics and Information...
PFRDA appoints Sivasubramanian Ramann as Chairperson for five years, ET BFSI
Sivasubramanian Ramann India's apex pension regulator, the Pension Fund Regulatory and Development Authority of India (PFRDA) has appointed Sivasubramanian Ramann as its Chairperson for a five-year tenure. Currently serving as Deputy Comptroller & Auditor General...
Poonam Gupta appointed as RBI Deputy Governor, BFSI News, ET BFSI
The Appointments Committee of Cabinet has announced the appointment of Poonam Gupta as the RBI Deputy Governor. The Government of India has approved the appointment of Poonam Gupta, who is the Director General of the National Council of Applied Economic Research in...
RBI says 98.21 pc of Rs 2000 banknotes returned, BFSI News, ET BFSI
The Reserve Bank on Tuesday said 98.21 per cent of the Rs 2000 banknotes have been returned to the banking system, and only Rs 6,366 crore worth of such notes are still with the public. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs...
Banks must prioritize customer service—Not just as a duty, but as a necessity, ET BFSI
The rising dissatisfaction among banking customers is evident in the soaring number of complaints under RBI's Integrated Ombudsman Scheme, which grew at a compound annual growth rate (CAGR) of nearly 50% over the past two years, reaching 9.34 lakh complaints in...
India’s rural lending landscape sees key transformation, structured loan schemes rise, ET BFSI
New Delhi, Driven by rapid digitisation, rise of fintech and increased government support, the rural lending landscape in India is undergoing a significant transformation, creating new opportunities for structured and efficient lending models and ensuring that credit...
PMMY an effective tool for women empowerment at grassroots level: SBI report, ET BFSI
New Delhi, Increasing women participation in the Pradhan Mantri Mudra Yojana (PMMY) - 68 per cent of 52 crore account holders are women - has led to better financial situation of women borrowers in the last 10 years, a report showed on Wednesday.In the last nine...
China conducts live fire drills near Taiwan in East China Sea
A Taiwanese military corvette sails as a Navy soldier stands guard on a vessel, during a Navy Drill for Preparedness Enhancement ahead of the Chinese New Year, amid escalating Chinese threats to the island, in Keelung, Taiwan, 7 Jan, 2022. Ceng Shou Yi | Nurphoto |...
Indian central bank’s surprise bond buy plan to improve cash condition, ET BFSI
By Dharamraj Dhutia MUMBAI, - The Reserve Bank of India's (RBI) unexpected move to buy 800 billion rupees ($9.34 billion) of bonds this month is expected to lift the banking system's liquidity further, giving the market more certainty around cash conditions. The...
Trump’s upcoming tariffs ‘will be effective immediately,’ White House says
U.S. President Donald Trump delivers remarks in the Oval Office at the White House, in Washington, D.C., U.S., March 21, 2025. Carlos Barria | ReutersPresident Donald Trump's forthcoming tariffs will take effect right after they are unveiled on Wednesday, the White...
DOJ to seek death penalty for Luigi Mangione in CEO murder case
Luigi Mangione, accused killer of US insurance CEO Brian Thompson, sits in Manhattan Supreme Court as he attends a hearing in New York City on Feb. 21, 2025.Steven Hirsch | AFP | Getty ImagesAttorney General Pam Bondi on Tuesday said she had ordered federal...
Layoffs begin at U.S. health agencies
Employees across the massive U.S. Department of Health and Human Services began receiving notices of dismissal on Tuesday in a major overhaul expected to ultimately lay off up to 10,000 people. The notices come just days after President Donald Trump moved to strip...
RBI cash injections help wipe out worst-ever India cash crunch, ET BFSI
Indian banking liquidity turned to surplus for the first time in more than three months as aggressive fund injections by the central bank helped erase one of the worst-ever cash crunches in the financial system.The surplus, measured through banks deploying excess...
ANZ Group, BFSI News, ET BFSI
New Delhi [India], April 1 (ANI): The Reserve Bank of India (RBI) could extend its rate-cut cycle beyond August 2025 if economic growth weakens, according to a report by ANZ Group.The report predicts that the central bank will implement three additional rate cuts of...
India central bank will work with government for ‘Goldilocks conditions’, says chief, ET BFSI
MUMBAI - India adopted the flexible inflation targeting framework (FIT) in 2016, which mandates the Reserve Bank of India to guide inflation towards a target of 4%, keeping it within a +/- 2% range on either side.The inflation target, to be revised once every five...
Nirmala Sitharaman highlights India’s forex strength to counter Opposition’s doubts, ET BFSI
Union Finance Minister Nirmala Sitharaman on Tuesday defended the position of India's foreign exchange (forex) reserves and their role in managing the current account deficit."On the foreign exchange reserve and how our current account deficit is being managed and a...
RBI played key role in making India global leader in digital payments: Prez Murmu, ET BFSI
Mumbai, President Droupadi Murmu on Tuesday lauded the Reserve Bank for its key role in making India a global leader in digital payments with innovations like UPI revolutionising financial access.Addressing the closing ceremony of the commemoration of the RBI's 90th...
‘Dirty 15’ countries targeted for ‘reciprocal’ duties
U.S. President Donald Trump announces that his administration has reached a deal with elite law firm Skadden, Arps, Slate, Meagher & Flom during a swearing-in ceremony in the Oval Office at the White House on March 28, 2025 in Washington, DC. Andrew Harnik | Getty...
FBI searches homes of Indiana University professor
Pedestrians on the campus of Indiana University Bloomington in Bloomington, Indiana, US, on Sunday, April 7, 2024. Chet Strange | Bloomberg | Getty ImagesVideo grabs of FBI raid at the home of Luddy School of Informatics, Computing, and Engineering Associate Dean for...
Trump tariffs will ‘start with all countries’ on April 2
US President Donald Trump speaks to the press aboard Air Force One before arriving at Palm Beach International Airport in West Palm Beach, Florida, on March 28, 2025. Brendan Smialowski | AFP | Getty ImagesPresident Donald Trump said that his "reciprocal tariffs" plan...
The battle fori Greenland intensifies as Denmark’s PM visits island
Protesters gather in front of the U.S. consulate during a demonstration, under the slogan, "Greenland belongs to the Greenlandic people", in Nuuk, Greenland, March 15, 2025.Christian Klindt Soelbeck | Via ReutersThe battle over Greenland is set to intensify this week...
reciprocal tariffs will target all countries
U.S. President Donald Trump walks towards Marine One on the South Lawn of the White House on March 28, 2025 in Washington, DC. Andrew Harnik | Getty ImagesU.S. President Donald Trump said on Sunday that reciprocal tariffs he is set to announce this week will include...
Trump’s promised ‘Liberation Day’ of tariffs is coming. Here’s what it could mean for you
Jeep vehicles are shown for sale at a dealership in Irvine, California, U.S., March 27, 2025. Mike Blake | ReutersPresident Donald Trump says Wednesday will be "Liberation Day" — a moment when he plans to roll out a set of tariffs that he promises will free the United...
RBI allowing banks to charge for ATM withdrawals ‘institutionalised extraction,’ alleges Tamil Nadu CM MK Stalin, ET BFSI
NEW DELHI: Tamil Nadu's chief minister M K Stalin criticised the Reserve Bank of India's recent decision on Sunday regarding additional charges for ATM withdrawals exceeding monthly limits. He contends that this policy will encourage people to withdraw larger sums...
S&P Global Ratings, ET BFSI
Tightening regulations and stricter underwriting standards in Indian microfinance will rein in growth plans for sector lenders and defuse risk build-up for overleveraged borrowers, said S&P Global Ratings.Credit analyst at S&P Global Ratings, Shinoy Varghese,...
South Korea, China, Japan to promote regional trade as tariffs loom
TOPSHOT - South Korea's Trade, Industry and Energy Minister Ahn Duk-geun (C) poses for a photo with Japan's Economy, Trade and Industry Minister Yoji Muto (L) and China's Commerce Minister Wang Wentao (R) during the 13th Trilateral Economic and Trade Ministers'...
Hegseth says US command in Japan being upgraded to deter China
MANILA, PHILIPPINES - MARCH 28: U.S. Defense Secretary Pete Hegseth (L), with Chief of Staff of the Armed Forces of the Philippines General Romeo Brawner Jr., inspect honor guards during his visit at Camp Aguinaldo on March 28, 2025 in Quezon city, Metro Manila,...
CK Hutchison won’t sign deal to sell Panama ports to BlackRock-led group
The MSC Regulus container ship, operated by Mediterranean Shipping Co. (MSC), left, the Monte Verde container ship, operated by Hamburg Sud, centre, and the OOCL Germany container ship, operated by Orient Overseas Container Line Ltd., docked at the Port of Felixstowe...
Trump administration warns European companies to comply with anti-DEI order
U.S. President Donald Trump gestures, before boarding Air Force One as he departs for Florida, at Joint Base Andrews, Maryland, U.S., March 28, 2025. Kevin Lamarque | ReutersThe Trump administration is broadening its anti-DEI campaign to European companies.Government...
JD Vance accuses Denmark of failing to keep Greenland secure
PITUFFIK, GREENLAND - MARCH 28: US Vice President JD Vance speaks at the US military's Pituffik Space Base on March 28, 2025 in Pituffik, Greenland. The itinerary for the visit was scaled back after a plan for a more extensive trip drew criticism from officials in...
Trump commutes Ozy Media founder Carlos Watson sentence
Carlos Watson, co-founder of Ozy Media, speaks with press after his sentencing hearing at Brooklyn Federal Court on December 16, 2024 in New York City. Michael M. Santiago | Getty ImagesPresident Donald Trump commuted the criminal fraud sentence of Ozy Media founder...
Trump pardons three co-founders of BitMEX crypto exchange
Arthur Hayes, chief executive officer of BitMEX, speaks during the Consensus: Invest event in New York, U.S., on Tuesday, Nov. 28, 2017. Michael Nagle | Bloomberg | Getty ImagesPresident Donald Trump has granted pardons to three co-founders of the BitMEX...
Trump sued by law firms targeted in executive orders
Signage is seen outside of the law firm WilmerHale in Washington, D.C., U.S., August 30, 2020. Andrew Kelly | ReutersTwo more law firms sued the Trump administration on Friday over executive orders by President Donald Trump targeting them for employing attorneys who...
Trump says Skadden, Arps law firm will provide $100 million in pro bono legal services, avoiding executive order
FILE PHOTO: Signage is seen outside of the law firm Skadden, Arps, Slate, Meagher & Flom LLP in Washington, D.C., U.S., August 30, 2020. Andrew Kelly | ReutersPresident Donald Trump said Friday that the large law firm Skadden, Arps, Slate, Meagher & Flom has...
Hillary Clinton blasts Trump, officials over Signal text leak
Hillary Clinton speaks on the first night of the Democratic National Convention at the United Center in Chicago, Ill., on Monday, August 19, 2024. Tom Williams | Cq-roll Call, Inc. | Getty ImagesHillary Clinton on Friday excoriated President Donald Trump and his...
Greenland forms new government hours before visit by US Vice President Vance
(L-R) Greenland politician Aqqalu Jerimiassen, Jens-Frederik Nielsen the leader of the Demokraatit party, the Prime Minister of Greenland Múte Bourup Egede and Vivian Motzfeldt of the Siumut party attend the announcement of a coalition agreement to form the next...
Nikola founder Trevor Milton says Trump pardoned him
Trevor Milton, founder of Nikola Corp., arrives at court in New York, on Monday, Sept. 12, 2022.Victor J. Blue | Bloomberg | Getty ImagesNikola Corp. founder Trevor Milton said Thursday that he had been granted a full pardon by President Donald Trump for his October...
RBI to hike ATM transaction fee from Rs 21 to Rs 23 starting May 2025, ET BFSI
The Reserve Bank of India announced on Friday that starting May 1, 2025, customers will be charged a fee of Rs 23 per transaction for ATM banking services. Earlier the amount was set at Rs 21 per transaction.Customers will continue to be entitled to five free...
RBI mandates banks to conduct special clearing operations on Monday, ET BFSI
Mumbai, The RBI on Friday asked all banks to mandatorily participate in the special clearing operations on March 31 to facilitate accounting of all government transactions for 2024-25. India follows the April 1-March 31 financial year. The Income tax offices as well...
Tesla arson leads to charges against Las Vegas man
Investigators look over the scene at a Tesla Collision Center after an individual used incendiary devices to set several vehicles on fire on March 18, 2025 in Las Vegas, Nevada. Ethan Miller | Getty ImagesA Las Vegas man has been arrested on charges related to the...
Putin says it would be a mistake to dismiss Trump’s push for Greenland
In this pool photograph distributed by the Russian state agency Sputnik, Russia's President Vladimir Putin attends a video-linked ceremony to launch the Project 885M Yasen-M nuclear-powered submarine Perm, in the Arctic Circle port city of Murmansk on March 27,...
How RBI is managing liquidity amid pressure from banks?, BFSI News, ET BFSI
How RBI is managing liquidity amid pressure from banks?The Reserve Bank of India (RBI) has been actively addressing a persistent liquidity crunch in the banking system, which has strained credit availability and pushed short-term interest rates higher. Over the past...
DoT, NABARD ink pact to digitally transform rural areas using BharatNet broadband, ET BFSI
NEW DELHI: The Digital Bharat Nidhi (DBN), under the Department of Telecommunications (DoT), has signed a memorandum of understanding (MoU) with the National Bank for Agriculture and Rural Development (NABARD) to digitally transform rural areas across the country...
SEC votes to stop defending climate disclosure rules
The U.S. Securities and Exchange Commission (SEC) headquarters in Washington, D.C., U.S. on March 5, 2025.Leslie Josephs | CNBCWall Street's top regulator said on Thursday it had voted to cease legal efforts to defend regulations that require companies to disclose...
Trump withdraws Elise Stefanik nomination for U.N. ambassador
US Representative Elise Stefanik, Republican from New York, testifies before the Senate Foreign Relations Committee on her nomination to be Ambassador to the United Nations, on Capitol Hill in Washington, DC, January 21, 2025. Saul Loeb | Afp | Getty ImagesPresident...
Trump auto tariffs will likely drive up car prices
Chevrolet Silverado trucks at a Chevrolet dealership in Vallejo, California, US, on Monday, March 3, 2025. Bloomberg | Bloomberg | Getty ImagesPresident Donald Trump's steep new tariffs on imported cars will likely jack up prices for U.S. buyers of both foreign and...
Russia hit Ukraine’s power infrastructure, US should react
Ukraine's President Volodymyr Zelenskyy reacts as he delivers a press conference at the headquarters of French national public television broadcaster "France Televisions" in Paris, on March 27, 2025. Julien De Rosa | Afp | Getty ImagesPresident Volodymyr Zelenskiy...
Kotak CEO reveals a lot on RBI cuts, deposit wars and banking’s next big moves, ET BFSI
The Reserve Bank of India (RBI) is expected to announce another rate cut in April, and its impact on bank fixed deposit (FD) rates remains a key question. Ashok Vaswani, Managing Director and CEO of Kotak Mahindra Bank, in a interview to ToI said he believes that...
RBI should include infrastructure loans in Priority Sector Lending category: SBI Report, ET BFSI
New Delhi [India], March 26 (ANI): The Reserve Bank of India (RBI) should include loans given to infrastructure projects--such as roads, ports, railways, airports, highways, and the energy sector--under priority sector lending (PSL) or exempt them from the calculation...
MSME is not a sector, need a very differentiative approach: MSME Secretary, ET BFSI
Subhash Chandra Lal Das, Secretary of the MSME ministrySubhash Chandra Lal Das, Secretary of the MSME ministry said that the micro, small and medium enterprises (MSMEs) is a nomenclature, and not a sector. “It is a particular kind of entity, and we need a very...
RBI should include infrastructure loans in Priority Sector Lending category: SBI Report, ET BFSI
RBI should include infrastructure loans in Priority Sector Lending category: SBI ReportNew Delhi [India], March 26 (ANI): The Reserve Bank of India (RBI) should include loans given to infrastructure projects--such as roads, ports, railways, airports, highways, and the...
Rama Rao thanks FM Sitharaman for taking up Telangana farmers’ cause, ET BFSI
Hyderabad, Bharat Rashtra Samithi (BRS) Working President, K.T. Rama Rao, on Thursday thanked Finance Minister Nirmala Sitharaman for highlighting the plight of farmers in Telangana over the loan waiver scheme."While I may have many issues with madam FM Nirmala...
RBI looks to double investment limit for foreign individuals, says report, ET BFSI
The Reserve Bank of India (RBI) plans to raise the investment limit for individual foreign investors in listed companies to 10% from 5%, aiming to enhance capital inflows, according to senior government officials and documents seen by Reuters.Foreign portfolio...
Growth-friendly RBI chief Sanjay Malhotra raises rate cut hopes, ET BFSI
Reserve Bank of India Governor Sanjay Malhotra has marked his first 100 days in office with a growth-friendly approach to monetary policy, suggesting he’ll be willing to cut interest rates further and keep liquidity flush as the economy braces for trade turmoil.Since...
Trump to announce new auto tariffs Wednesday
U.S. President Donald Trump holds paperwork he signed during an Ambassador Meeting in the Cabinet Room of the White House on March 25, 2025 in Washington, DC. Win McNamee | Getty ImagesPresident Donald Trump will announce new tariffs on auto imports Wednesday, the...
RBI’s monetary policy committee meeting schedule for FY26, ET BFSI
The Reserve Bank of India (RBI) is scheduled to meet six times during financial year 2025-26 for the Monetary Policy Committee (MPC) meetings for the financial year 2025-26 (FY26). The MPC, responsible for setting the country's benchmark interest rates, will meet six...
Where will the money go?
New army recruits of the Bundeswehr, Germany's armed forces, during basic training on Nov. 29, 2022 near Prenzlau, Germany.Sean Gallup | Getty ImagesAs Europe plans to pour billions of dollars into defense, many regional leaders are pushing for the money to be spent...
EU says Russia withdrawal from Ukraine is condition to lift sanctions
The withdrawal of all Russian forces from Ukraine would be one of the main conditions to lift or amend EU sanctions, a European Commission spokesperson said on Wednesday.European Union countries renewed the bloc's two sanctions frameworks on Russia for another six...
NITI Aayog CEO, ET BFSI
BVR Subrahmanyam was speaking at a launch event organized by the Confederation of Indian Industry (CII) in New Delhi.BVR Subrahmanyam, CEO, NITI Aayog on Wednesday said that everybody pay lip service to MSMEs, and that it is are most affected by regulations. “I am...
Atlantic publishes Signal thread with Trump VP Vance, Hegseth, Waltz
(L-R) US National Security Advisor Mike Waltz speaks with Defense Secretary Pete Hegseth as US President Donald Trump meets with French President Emmanuel Macron in the Oval Office of the White House in Washington, DC, on February 24, 2025. Ludovic Marin | Afp | Getty...
RBI MPC meeting schedule for FY26 released; first meet set for April 7-9, ET BFSI
The Reserve Bank of India (RBI) on Wednesday announced the Monetary Policy Committee (MPC) meeting schedule for the next fiscal year, starting April 2025. The rate-setting panel is set to have six meetings, with the first one scheduled for April 7-9, 2025. The last...
Opposition accuse govt of writing off loans of wilful defaulters, burdening banks with NPAs, ET BFSI
New Delhi, Opposition members in Rajya Sabha on Wednesday accused the government of writing off crores of rupees owed by wilful defaulters who have fled the country while crushing banks under the burden of non-performing assets. Participating in the discussion on the...
Payments industry body urges PM Modi to introduce MDR on UPI for large merchants & RuPay debit cards, ET BFSI
The Payments Council of India (PCI) which represents digital payments companies has written to Prime Minister Narendra Modi, seeking the introduction of merchant discount rate (MDR) on UPI transactions and RuPay debit cards. The industry body has sought an MDR of 0.3%...
India discontinues parts of gold deposit scheme amid rising prices, ET BFSI
- India has discontinued parts of a scheme that encouraged households and institutions to deposit idle gold in exchange for interest payments. The gold monetisation scheme, introduced in 2015, included gold deposits for 1-to-3 years, 5-to-7 years and 12-to-15...
RBI Guv Malhotra, ET BFSI
RBI Governor Sanjay MalhotraThe Reserve Bank of India (RBI) Governor Sanjay Malhotra has cautioned policymakers against excessive regulatory measures that could hinder legitimate investments and business activities. Speaking at the Private Sector Collaborator Forum...
Revised RBI’s priority sector lending norms to further boost economy: SBI report, ET BFSI
New Delhi, The recent amendments in priority sector lending (PSL) guidelines by the Reserve Bank of India (RBI) should further help the economy grow faster and fine tune the building blocks of the factors of productions, mainly the MSMEs, agri and allied sectors,...
RBI to continue with rate cuts as growth faces potential headwinds, inflation dipping: Report, ET BFSI
New Delhi [India], March 26 (ANI): The Reserve Bank of India (RBI) is expected to continue reducing the repo rate as economic growth faces potential headwinds and inflation is likely to fall in the central bank's target range, according to a report by HDFC Mutual...
Russia, Ukraine agree to truce at sea and ban on energy attacks
This photo taken on March 24, 2025 shows the hotel where U.S. and Russian delegations begin a new round of talks in Riyadh, Saudi Arabia. U.S. and Russian delegations began a new round of talks in Saudi Arabia on Monday, eyeing a Ukraine settlement and Black Sea...
Trump defends national security chief Waltz after Signal texts about Houthi strike sent to reporter
US President Donald Trump speaks to the press as he meets with NATO Secretary General Mark Rutte in the Oval Office of the White House in Washington, DC, on March 13, 2025 as, seated from L to R, Vice Presient JD Vance, Defense Secretary Pete Hegseth and National...
Lok Sabha passes Finance Bill 2025 with 35 govt amendments, BFSI News, ET BFSI
New Delhi, The Lok Sabha on Tuesday passed the Finance Bill 2025, along with 35 government amendments, including one that abolishes a 6 per cent digital tax on online advertisements. With the passage of the Finance Bill 2025, the Lok Sabha completed its part of the...
India’s fin system resiliency has improved, BFSI News, ET BFSI
MUMBAI: India's financial system has become more robust and diverse since 2017, a five-yearly report that is is part of the Financial System Assessment Program conducted jointly by the IMF and the World Bank showed.The IMF recently released the latest India assessment...
Payments Council seeks PM Modi’s intervention to reconsider zero MDR policy for UPI and RuPay debit, ET BFSI
Payments Council seeks PM Modi’s intervention to reconsider zero MDR policy for UPI and RuPay debitThe Payments Council of India (PCI), representing 180 non-banking payment industry players, has urged Prime Minister Narendra Modi to reconsider the Zero Merchant...
Govt proposes to abolish Equalisation Levy on online advertisements, ET BFSI
The government on Monday proposed to abolish the Equalisation Levy or digital tax on online advertisements as part of the 59 amendments to the Finance Bill 2025, which is being debated in the Lok Sabha. The proposal to remove the Equalisation Levy on online...
Home loans up to Rs50L, BFSI News, ET BFSI
MUMBAI: RBI has revised priority sector lending norms, effective from April 1, to boost credit flow to key economic segments by increasing loan limits, expanding eligibility criteria, and raising targets.The new norms have higher home loan limits and increased...
Trump says tariffs on autos, pharmaceuticals coming in ‘near future’
U.S. President Donald Trump, U.S. Secretary of State Marco Rubio and Tesla CEO Elon Musk attend a cabinet meeting at the White House, in Washington, D.C., U.S., March 24, 2025. Carlos Barria | ReutersPresident Donald Trump on Monday said he will soon announce tariffs...
Tesla task force launched by FBI
Burned Teslas are shown at a Tesla Collision Center after an individual used incendiary devices to set several vehicles on fire on March 18, 2025 in Las Vegas, Nevada.Ethan Miller | Getty ImagesThe FBI has launched a new task force to investigate attacks targeting...
Tesla showroom in Texas targeted with ‘incendiary devices’, police say
A Tesla Cybertruck is parked in front of a showroom on March 20, 2025 in Austin, Texas.Brandon Bell | Getty ImagesPolice said Monday that multiple "incendiary" devices had been placed at a Tesla showroom in Austin, Texas.The FBI was assisting Austin Police at the...
Interim SEC chief Mark Uyeda cast the sole vote against suing Musk
Mark Uyeda, a commissioner at the U.S. Securities and Exchange Commission, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2023. Mike Blake | ReutersDays before Republicans took the helm of the U.S. Securities and...
Concerns about espionage rise as Trump and Musk fire thousands of federal workers
A commuter near the Federal Aviation Administration (FAA) headquarters in Washington, DC, US, on Wednesday, March 12, 2025. Al Drago | Bloomberg | Getty ImagesAs President Donald Trump and billionaire Elon Musk work to overhaul the federal government, they're forcing...
Political and financial turmoil set to dominate Turkey, risking economic stabilization plans
Protesters clash with Turkish anti riot police as they use tear gas and water cannons during a demonstration following the arrest of Istanbul's mayor, in Ankara on March 21, 2025. Adem Altan | Afp | Getty ImagesMore than 1,100 people have been arrested in Turkey's...
Former Rep. Mia Love, first Black Republican woman elected to U.S. House, dies
Former U.S. Rep. Mia Love of Utah, a daughter of Haitian immigrants who became the first Black Republican woman elected to Congress, died Sunday.She was 49.Love's family posted news of her death on Love's X account.She had undergone recent treatment for brain cancer...
CRA to scrutinise claims of high returns by investment service providers, ET BFSI
New Delhi, Markets regulator Sebi has said that risk-return metrics of services offered by investment advisers, research analysts, and algo trading providers will be scrutinised by a credit rating agency, a move aimed at checking claims of high returns. Under the new...
P2P lending slows as RBI move clouds future of key players, BFSI News, ET BFSI
The peer-to-peer lending industry has slumped to a major slowdown with most of the large players in this space staring at an uncertain future, after the Reserve Bank of India came down heavily on the sector last year for not properly abiding by regulatory...
FIU lab that parses currency declaration forms, transactions to spot laundering, terror financing, ET BFSI
New Delhi, The Financial Intelligence Unit (FIU) has created a smart lab that mines data from currency declaration forms furnished by individuals landing in India. The lab also examines complex banking and financial data of an entity to study possible money laundering...
Finance Bill to come up for passage in LS, Banking Laws (Amendment) Bill in RS, ET BFSI
New Delhi, Both Houses of Parliament will resume the proceedings on Monday. In the Lok Sabha, Union Finance Minister Nirmala Sitharaman will move The Finance Bill, 2025 for consideration and passing, and in the Rajya Sabha, she will seek the passing of The Banking...
Judge slams Social Security chief for agency shutdown ‘threats’ after DOGE ruling
A sign for the U.S. Social Security Administration is seen outside its headquarters in Woodlawn, Md., on Thursday, March 20, 2025. Tom Williams | Cq-roll Call, Inc. | Getty ImagesA federal judge reprimanded Social Security Administration acting commissioner Lee Dudek...
Pro-Trump senator meets Chinese Premier Li with U.S. executives
Chinese Premier Li Qiang (R) greets Pfizer CEO Albert Bourla from a delegation led by US Senator Steve Daines before a meeting held in the Fujian Room at the Great Hall of the People in Beijing on March 23, 2025.Ng Han Guan | Afp | Getty ImagesU.S. Republican Senator...
Turkish court jails Istanbul mayor Imamoglu pending trial
University student wave Turkish national flags as they gather in protest in Besiktas district in Istanbul on March 20, 2025 following Istanbul metropolitan Mayor Ekrem Imamoglu's detention over a corruption probe. Ozan Kose | Afp | Getty ImagesA Turkish court jailed...
Trump’s Social Security chief backs down from ‘shutting down’ agency
A sign in front of the entrance of the Security Administration's main campus on March 19, 2025 in Woodlawn, Maryland. Kayla Bartkowski | Getty ImagesThe head of the U.S. Social Security Administration has backed down from "shutting down the agency" after a federal...
SEC to see exodus as hundreds take Trump’s buyout offers: Reuters
The U.S. Securities and Exchange Commission (SEC) headquarters in Washington, D.C., U.S. on March 5, 2025.Leslie Josephs | CNBCWall Street's top regulator is facing a staff exodus across key departments as hundreds have agreed to take resignation offers amid President...
RBI imposes penalty on Citibank, IDBI Bank, ET BFSI
The Reserve Bank of India (RBI) on Friday said it has imposed a penalty of Rs 36.28 lakh on Citibank N.A. for contravention of the directions related to reporting of transactions undertaken under the Liberalised Remittance Scheme. In another release, it said penalty...
UAE commits to $1.4 trillion investment framework in US: White House
Abu Dhabi, United Arab EmiratesBojabo | Istock | Getty ImagesThe United Arab Emirates has committed to a 10-year, $1.4 trillion investment framework in the United States after top UAE officials met President Donald Trump this week, a White House official said on...
Trump says ‘there’ll be flexibility’ on reciprocal tariffs
U.S. President Donald Trump delivers remarks in the Oval Office at the White House, in Washington, D.C., U.S., March 21, 2025. Carlos Barria | ReutersPresident Donald Trump on Friday said there will be "flexibility" on his reciprocal tariff plan, even as he seemed to...
Musk group offers $100 to Wisconsin voters ahead of pivotal state Supreme Court election
People vote at a polling station in Allenton, Wisconsin, on Election Day, November 5, 2024. Alex Wroblewski | AFP | Getty ImagesA group funded by billionaire Elon Musk is offering Wisconsin voters $100 to sign a petition in opposition to "activist judges," a move that...
German upper house of parliament OKs debt reform, half-trillion fund
The Bundestag Federal Eagle symbol in the plenary hall of the Bundestag, Germany's parliament.Krisztian Bocsi | Bloomberg | Getty ImagesGermany's upper house of parliament on Friday passed a reform of the country's borrowing rules and a 500-billion-euro ($542 billion)...
SEBI proposes ESOP benefits for startup founders even after IPO, ET BFSI
Mumbai, The Securities and Exchange Board of India (SEBI) has proposed a change in rules that will allow startup founders to continue holding Employee Stock Option Plans (ESOPs) even after their company goes public.This move aims to provide relief to founders of...
Severe charges for arson against Musk’s Tesla
Burned Teslas are shown at a Tesla Collision Center after an individual used incendiary devices to set several vehicles on fire on March 18, 2025 in Las Vegas, Nevada. Ethan Miller | Getty ImagesAttorney General Pam Bondi on Thursday touted federal cases against...
RBI injects Rs 15.5 lakh crore to ease banking liquidity crunch, ET BFSI
The Reserve Bank of India (RBI) has infused Rs 15.5 lakh crore into the banking system over the past two months through a mix of durable and transient liquidity measures to address the ongoing liquidity deficit and support credit growth. Despite these interventions,...
Pentagon to brief Musk on top-secret plan for potential war with China, NYT reports
President Donald Trump and Elon Musk (R) speak before departing the White House on his way to his South Florida home in Mar-a-Lago in Florida on March 14, 2025. Roberto Schmidt | Afp | Getty ImagesBillionaire Elon Musk, U.S. President Donald Trump's close ally, is due...
European leaders push for even more defense spending
The European Union has plans to step up its defense spending in a big way — but some leaders want it to go even further as geopolitical tensions heighten.The European Commission, the executive arm of the EU, earlier this month proposed measures that could bring about...
Trump Commerce chief Lutnick urges Tesla stock buy
Elon Musk, chief executive officer of Tesla Inc., from left, Howard Lutnick, US commerce secretary, walk on the South Lawn of the White House before boarding Marine One in Washington, DC, US, on Friday, March 14, 2025.Al Drago | Bloomberg | Getty ImagesCommerce...
EU delays implementing first retaliatory tariffs on U.S. goods to middle of April
EU flags flutter in front of European Central Bank (ECB) headquarters in Frankfurt, Germany July 18, 2024. Jana Rodenbusch | ReutersThe European Union will delay implementing its first set of tariffs on goods from the U.S. until the middle of April to allow for...
Turkey faces protests, investor flight after opposition leader’s arrest
Turkish MPs, mayors, party members, members of different political parties, representatives of non-governmental organizations and citizens protest against the detention warrant of the Istanbul Metropolitan Municipality (IBB) Mayor Ekrem Imamoglu, Beylikduzu Mayor...
Fed to announce policy rates today. Here’s what to expect from FOMC meeting, ET BFSI
The US Federal Reserve’s rate setting committee is expected to retain the federal fund rate steady at 4.25%-4.5% following its two-day meeting which ends today (Wednesday, March 19).It is the Federal Open Market Committee’s (FOMC’s) second policy meeting this year and...
Advanced economies ahead of Gulf nations in remittance to India, Maha top recipient: RBI survey, ET BFSI
The sixth round of the survey on India’s remittances for 2023-24 highlighted a shift in the dynamics of India’s diaspora, with advanced economies emerging as dominant source countries over the Gulf Cooperation Council (GCC) nations, according to the RBI...
Term deposits grow faster than savings in Feb; incremental CD ratio rises to 88.2%: RBI, ET BFSI
Scheduled commercial banks (SCBs) saw term deposits grow at a faster pace than savings deposits in Q3 FY25, pushing the share of term deposits in total deposits to 62.1% by February 21, 2025, up from 60.3% a year ago, according to the RBI Bulletin. The rise was driven...
Federal reserve holds interest rates steady, signals two cuts this year amid economic uncertainty, ET BFSI
The federal reserve maintained its benchmark interest rate on Wednesday, keeping it unchanged for the second consecutive meeting, while signalling that it still expects to cut rates twice before the end of the year. However, officials acknowledged growing uncertainty...
Trump to sign order to shut down Department of Education, White House says
U.S. President Donald Trump signs an executive order in the Oval Office of the White House in Washington, U.S., Feb. 10, 2025. Kevin Lamarque | ReutersU.S. President Donald Trump will sign an executive order on Thursday that aims to shut down the Department of...
RBI announces appointment of Indranil Bhattacharyya as new ED, ET BFSI
On Thursday RBI announced the appointment of Indranil Bhattacharyya as the new Executive Director, effective from March 19, 2025. In his new role as Executive Director, Bhattacharyya will oversee the Department of Economic and Policy Research at the RBI. Before being...
Household savings flow to financial market could pose risks, says finance ministry, ET BFSI
New Delhi: The finance ministry informed the Parliament that a shift in household deposits from banks to market-linked financial products in search of higher returns may expose the households to significant market risks and that they may face financial losses during...
DOGE map of Musk world as Trump AG warns Tesla vandals
Zoom In IconArrows pointing outwardsA new online map is highlighting locations across the United States of Tesla owners, dealerships and Superchargers, along with purported addresses and phone numbers connected to members of the Trump administration's DOGE team, led...
FTC commissioner fired by Trump says her ouster should concern markets
One of the two Democratic commissioners at the Federal Trade Commission whom President Donald Trump abruptly fired Tuesday warned that her ouster could erode market stability."This isn't just about the FTC, and it's not about my job," former commissioner Rebecca Kelly...
Federal judge transfers Columbia student activist’s case to New Jersey
FILE PHOTO: Mahmoud Khalil speaks to members of media about the Revolt for Rafah encampment at Columbia University during the ongoing conflict between Israel and the Palestinian Islamist group Hamas in Gaza, in New York City, U.S., June 1, 2024. Jeenah Moon | ReutersA...
AI art cannot have copyright, appeals court rules
A picture titled "A Recent Entrance to Paradise," which computer scientist Stephen Thaler said he had created using his generative AI platform, the "Creativity Machine."Source: Wikipedia CCA federal appeals court ruled that art created autonomously by artificial...
Zelenskyy says he will talk to Trump as Russia, Ukraine report overnight strikes
Officials work at the site of destruction and fire after the Russian attack in Sumy, Ukraine on March 19, 2025. State Emergency Service of Ukraine | Anadolu | Getty ImagesUkrainian President Volodymyr Zelenskyy on Wednesday said he would hold talks with White House...
Rs 60,060 cr agriculture loan lying outstanding towards 27 lakh Haryana farmers: Minister, ET BFSI
Chandigarh, The Haryana Assembly was informed on Wednesday that the amount of agriculture loan lying outstanding towards more than 27 lakh farmers in the state stood at Rs 60,060 crore. Raising the matter during Question Hour in the state Assembly, Indian National Lok...
Cabinet approves extension of incentives for UPI transactions up to Rs 2,000 for small merchants, ET BFSI
The Union Cabinet on Wednesday approved extending Rs 1,500 crore incentive scheme for small digital transactions, a move aimed to minimise cost of various stakeholders involved in the UPI ecosystem.The scheme, which covers transactions up to Rs 2,000/- for small...
Roche abandons global diversity targets on concern over U.S. executive orders
Sheldon Cooper | Lightrocket | Getty ImagesSwiss drugmaker Roche has abandoned global targets for a more diverse workforce to avoid penalties from recent U.S. executive orders, the latest in a slew of companies to do so.Among measures taken, Roche said its Chief...
Turkish lira, stock market drop after Istanbul mayor and Erdogan rival arrested
Istanbul Municipality Mayor Ekrem İmamoğlu speaks at the 19 May Commemoration of Atatürk, Youth and Sports Day celebrations held at the Maltepe Event Area on May 19, 2023 on Istanbul, Turkey. Hakan Akgun | Getty ImagesThe Turkish lira fell to a record low against the...
Trump fires both Democratic commissioners at FTC
Federal Trade Commission Commissioners Rebecca Kelly Slaughter (L) and Alvaro Bedoya (R) sit behind FTC Chair Lina Khan as she testifies before the House Judiciary Committee in the Rayburn House Office Building on Capitol Hill on July 13, 2023 in Washington, DC.Chip...
Previously classified files related to JFK assassination released
U.S. President Donald Trump attends a board meeting for the Kennedy Center, in Washington, D.C., U.S., March 17, 2025. Carlos Barria | ReutersPreviously classified documents related to the 1963 assassination of President John F. Kennedy were released Tuesday...
RBI liquidity boost likely to ease deficit pressure amid March-end tax outflows, ET BFSI
The Reserve Bank of India’s (RBI) ongoing liquidity measures, including open market operations (OMOs), forex swaps, and variable rate repo (VRR) auctions, are expected to ease liquidity pressures in the banking system despite upcoming outflows from advance tax and GST...
Judge blocks Trump’s transgender military ban
US President Donald Trump speaks at the Department of Justice in Washington, DC, on March 14, 2025. Roberto Schmidt | AFP | Getty ImagesA federal judge on Tuesday temporarily blocked the U.S. military from enforcing President Donald Trump's executive order barring...
Trump demands impeachment for judge blocking deportations
James Boasberg, incoming chief judge of the US District Court, in Washington, DC, US, on Monday, March 13, 2023. Valerie Plesch | Bloomberg | Getty ImagesPresident Donald Trump called Tuesday for the impeachment of a federal judge who has issued orders blocking...
Trump and Putin call on Russia and Ukraine ceasefire plan
U.S. President Donald Trump and Russian President Vladimir Putin at a joint press conference after their summit on July 16, 2018, in Helsinki, Finland.Chris McGrath | Getty Images News | Getty ImagesU.S. President Donald Trump and Russian President Vladimir Putin are...
RBI, Bank of Mauritius sign MoU to promote use of local currencies, ET BFSI
RBI, Bank of Mauritius sign MoU to promote use of local currenciesThe Reserve Bank of India (RBI) and the Bank of Mauritius (BOM) have signed an agreement to encourage the use of their local currencies, the Indian Rupee (INR) and the Mauritian Rupee (MUR), for...
German parliament to vote on fiscal package that could bring historic reforms
The Reichstag building in the early morning.Paul Zinken/dpa | Picture Alliance | Getty ImagesGermany's Bundestag is set to vote on a major fiscal package later on Tuesday, which includes changes to long-standing debt policies to enable higher defense spend and a 500...
Trump deportations questioned by federal judge
U.S. President Donald Trump speaks to the media during a guided tour of the John F. Kennedy Center for the Performing Arts before leading a board meeting on March 17, 2025 in Washington, DC. Chip Somodevilla | Getty ImagesThe Department of Justice on Monday asked a...
Borrowers may get a 100 bps rate cut bonanza in current rate-cutting cycle, ET BFSI
India’s retail inflation dropped to a seven-month low of 3.61% in February, strengthening expectations of further rate cuts by the Reserve Bank of India (RBI) in 2025. UBS India projects a 50-basis-point cut in the repo rate during the ongoing monetary policy cycle,...
RBI Governor asks banks to prioritise customer service, AI-driven grievance redressal, ET BFSI
RBI Governor Sanjay MalhotraRBI Governor Sanjay Malhotra has urged banks and NBFCs to prioritise customer service and grievance redressal, highlighting the sharp rise in complaints escalating to the RBI Ombudsman. He also emphasised the role of artificial intelligence...
Trump nominates Republic Airways CEO Bryan Bedford as US FAA head
FILE PHOTO: Republic CEO Bryan Bedford speaks during a news conference, Tuesday, April 13, 2010, in Milwaukee.Morry Gash | APPresident Donald Trump is nominating Republic Airways CEO Bryan Bedford to head the Federal Aviation Administration in the face of growing...
RBI liquidity boost may lower lending rates sooner than expected, ET BFSI
Mumbai: Industry experts believe that short-term borrowings will likely cost less for mainstream Indian lenders as early as next month. Multiple-and simultaneous-central bank measures to boost systemic liquidity will help reduce the rates on instruments such as...
Trump revokes secret service protection for Biden’s children Hunter and Ashley
Hunter Biden, son of U.S. President Joe Biden, arrives at court for his trial on tax evasion in Los Angeles on Sept. 5, 2024.Ringo Chiu | AFP | Getty ImagesU.S. President Donald Trump on Monday revoked secret service protection for former president Joe Biden's...
RBI pumped liquidity, cut rates, but loans cost same, BFSI News, ET BFSI
MUMBAI: RBI has pumped in over Rs 5 lakh crore into the banking system since mid-Jan through bond purchases, forex swaps and early-April maturity repos. To ensure that liquidity remains surplus so that its rate cut can be transmitted to borrowers, the central bank...
Trump administration seeks delay in Nippon Steel case for merger talks, filing shows
A water tower at the U.S. Steel Corp. Edgar Thomson Works steel mill in Braddock, Pennsylvania, on Sept. 4, 2024.Justin Merriman | Bloomberg | Getty ImagesThe Trump administration filed a motion to extend two deadlines in U.S. Steel and Nippon Steel's lawsuit against...
Oil rises as Trump says Iran will be held responsible for any future Houthi attacks
U.S. President Donald Trump looks on as military strikes are launched against Yemen's Iran-aligned Houthis over the group's attacks against Red Sea shipping, at an unspecified location in this handout image released March 15, 2025.White House | Via ReutersOil prices...
Trump economic aide Hassett predicts short-term tariff uncertainty
President Donald Trump's top economic aide on Monday warned of more economic uncertainty stemming from the United States' evolving tariff agenda."Absolutely, between now and April 2, there'll be some uncertainty," National Economic Council director Kevin Hassett said...
EIL, MECON, 4 others in fray for RBI’s currency management project, ET BFSI
State-owned Engineers India and MECON as well as four private entities are in the fray for the project to comprehensively revamp RBI's currency management infrastructure in order to cater to future cash needs of the country's fast growing economy. The four private...
PM Modi commends RBI’s digital innovation as it bags Central Banking award, ET BFSI
New Delhi [India], March 16 (ANI): Prime Minister Narendra Modi said digital innovation continues to strengthen India's financial ecosystem- empowering countless lives- as he commended the Reserve Bank of India for bagging the Digital Transformation Award 2025 from...
PM Modi hails RBI’s digital transformation award from Central Banking London, ET BFSI
"The Reserve Bank of India has been selected for the Digital Transformation Award 2025 by Central Banking, London, UK," the RBI announced.NEW DELHI: Prime Minister Narendra Modi on Sunday congratulated the Reserve Bank of India (RBI) for winning the 'Digital...
Trump says he will be speaking with Russia’s Putin on Tuesday
US President Donald Trump speaks to reporters aboard Air Force One while flying to Washington, DC, from Florida, on March 16, 2025, above Virginia.Brendan Smialowski | Afp | Getty ImagesU.S. President Donald Trump said he plans to speak to Russian President Vladimir...
Trump launches large-scale strikes on Yemen’s Houthis, at least 31 killed
A plume of smoke billows during a U.S. strike on Yemen's Houthi-held capital Sanaa early on March 16, 2025. Mohammed Huwais | Afp | Getty ImagesU.S. President Donald Trump launched large-scale military strikes against Yemen's Iran-aligned Houthis on Saturday over the...
Trump launches large-scale strikes on Yemen’s Houthis, at least 19 killed
Yemen's Houthi followers take part in a tribal parade held against the United States-led aerial attacks launched on sites in Yemen, and solidarity with Palestinians, on January 22, 2024, near Sana'a, Yemen. Mohammed Hamoud | Getty ImagesAt least 19 were killed as U.S....
A judge limits Trump’s ability to deport people under the 18th century Alien Enemies Act
U.S. Immigrations and Customs (ICE) Homeland Security Investigations (HSI) agents take part in the detaining of two documented immigrants with prior convictions at a Home Depot parking lot in Tucson, Arizona, U.S., January 26, 2025. Rebecca Noble | ReutersA federal...
Trump signs order to gut Voice of America, other agencies
In this June 15, 2020, file photo, the Voice of America building stands in Washington.Andrew Harnik | APPresident Donald Trump signed an executive order on Friday aimed at gutting the parent of U.S. government-funded media outlet Voice of America and six other federal...
China lashes out at G7 over statements on maritime security
Chinese national flags flutter on boats near shipping containers at the Yangshan Port outside Shanghai, China, February 7, 2025. Go Nakamura | ReutersChinese national flags flutter on boats near shipping containers at the Yangshan Port outside Shanghai, China,...
Trump administration weighs travel ban on dozens of countries, memo says
Close up of American visa label in passport. Alexander W Helin | Moment | Getty ImagesThe Trump administration is considering issuing sweeping travel restrictions for the citizens of dozens of countries as part of a new ban, according to sources familiar with the...
RBI, BFSI News, ET BFSI
Mumbai: RBI governor Sanjay Malhotra on Thursday urged banks to strengthen risk management frameworks to address credit risks associated with emerging green technologies, which have limited reliability and efficiency track records. "Regulated entities need to develop...
Elon Musk’s SpaceX, Tesla lobby on Trump tariffs
Tesla CEO Elon Musk watches as President Donald Trump talks to the media, outside the White House in Washington, D.C., March 11, 2025.Kevin Lamarque | ReutersTwo companies led by billionaire DOGE chief Elon Musk — SpaceX and Tesla — have submitted letters lobbying the...
RBI fines JM Financial Products Ltd, Experian Credit Information Company, ET BFSI
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 3.10 lakh on JM Financial Products Limited over non-compliance.The penalty was imposed for not complying with certain provisions of the 'Master Direction - Non-Banking Financial Company -...
Trump rebuked by Canada PM Mark Carney on joining U.S.
Canada's new Prime Minister Mark Carney, with members of his government standing behind him, speaks during a press conference following a swearing-in ceremony of the new Canada's government in Ottawa, Ontario, Canada, March 14, 2025.Blair Gable | ReutersCanada's new...
Trump nominee Dr. Oz won’t commit to opposing Medicaid cuts
Dr. Mehmet Oz, President Donald Trump's pick to lead the agency in charge of massive government-run health insurance programs, on Friday declined to commit to opposing future cuts to Medicaid when directly asked if he would do so.Instead, the nominee for administrator...
The future of U.S.-Canada trade after tariff escalation
President Donald Trump signed several executive orders at the start of his second term that lay out a blanket 25% tariff on Canadian goods imported into the United States, with some exceptions such as energy. Canadian energy will carry a lower tariff of 10%. The bulk...
Mark Carney sworn in as Canadian prime minister, now must face Trump
Mark Carney arrives before being sworn-in as Canada's 24th prime minister, at Rideau Hall in Ottawa, Ontario, Canada, March 14, 2025. Patrick Doyle | ReutersEx-central banker Mark Carney was formally sworn in as prime minister of Canada on Friday, putting him in a...
More than 50 universities face federal investigations as part of Trump’s anti-DEI campaign
Linda McMahon, President Donald Trump’s nominee to be Secretary of Education, testifies during her Senate Health, Education, Labor and Pensions Committee confirmation hearing in the Dirksen Senate Office Building on February 13, 2025 in Washington, DC. Win Mcnamee |...
German parties agree on historic debt deal, Reuters sources say
Markus Söder (l-r), Chairman of the CSU and Minister President of Bavaria, Friedrich Merz, candidate for Chancellor of the CDU/CSU, Chairman of the CDU/CSU parliamentary group and Federal Chairman of the CDU, Lars Klingbeil, Chairman of the SPD parliamentary group and...
Russia talks of cautious optimism on Ukraine ceasefire but stands by caveats
Russian President Vladimir Putin speaks during a bilateral meeting at the Grand Kremlin Palace, March 13, 2025, in Moscow, Russia. Contributor | Getty Images News | Getty ImagesRussia struck a sedate tone on Friday but acknowledged grounds for cautious optimism, after...
Trump doubles down on tariffs as stocks sink: ‘not going to bend’
US President Donald Trump speaks to the press as he meets with NATO Secretary General Mark Rutte in the Oval Office of the White House in Washington, DC, on March 13, 2025.Mandel Ngan | Afp | Getty ImagesPresident Donald Trump on Thursday doubled down on his...
Trump administration sued for ending union bargaining for TSA officers
Travellers process through a security checkpoint at Seattle-Tacoma International Airport before the Thanksgiving holiday in Seattle, Washington, U.S. November 24, 2021.Lindsey Wasson | ReutersThe largest federal employee union filed a lawsuit on Thursday seeking to...
RBI Governor, BFSI News, ET BFSI
Our BureauKolkata: Reserve Bank of India (RBI) Governor, Sanjay Malhotra, on Thursday, urged lenders to create a common pool of bankable green projects so that initiatives at the forefront of fighting climate change receive adequate financing and expertise."Capacity...
Newsmax paid $40 million to settle defamation suit over 2020 election claims
News anchors work at Newsmax's booth during the second day of the 2024 Republican National Convention at the Fiserv Forum in Milwaukee, Wisconsin, July 16, 2024.Patrick T. Fallon | Afp | Getty ImagesCable outlet Newsmax Media has paid $40 million to settle allegations...
RBI slaps fines on JM Financial Products, Experian Credit Information Company, ET BFSI
The Reserve Bank has imposed penalties on JM Financial Products and Experian Credit Information Company of India for certain deficiencies in regulatory compliance. In a release on Thursday, RBI said a penalty of Rs 3.1 lakh has been imposed on JM Financial Products...
China, Iran, Russia kick off talks in Beijing on Iran’s nuclear issues
A picture taken on November 10, 2019, shows an Iranian flag in Iran's Bushehr nuclear power plant, during an official ceremony to kick-start works on a second reactor at the facility.ATTA KENARE | AFP via Getty ImagesSenior diplomats from Iran, Russia and China...
RBI may go for 75 bps rate cut this fiscal, 25 bps each in April, June and October 2025: Report, ET BFSI
RBI may go for 75 bps rate cut this fiscal, 25 bps each in April, June and October 2025: ReportNew Delhi [India], March 13 (ANI): SBI research ecowrap predicts 75 basis points rate cut this fiscal. Experts believe that CPI inflation will be 3.9 per cent in the fourth...
Greenland PM blasts Trump talk of U.S. annexation
Lars Joergen Kleist, wearing a Make America Great Again hat, queues to vote at the polling station in Nuuk on March 11, 2025, as Greenland, the autonomous Danish territory, holds legislative elections.Odd Andersen | Afp | Getty ImagesPresident Donald Trump said...
USPS to cut workforce by 10,000 after signing deal with Elon Musk’s DOGE
United States Postal Service vehicles seen in New York City on Feb. 13, 2025. Danielle DeVries | CNBCU.S. Postmaster General Louis DeJoy told Congress he signed an agreement with Elon Musk's DOGE government reform team to provide assistance to the money-losing agency...
Putin says Russia backs Ukraine ceasefire plan but there are nuances
Russian President Vladimir Putin speaks during a bilateral meeting at the Grand Kremin Palace, March 13, 2025, in Moscow, Russia. President of Belarus Lukashenko is having first foreign trip after re-election.Contributor | Getty Images News | Getty ImagesRussian...
Trump EU tariff threat no big deal for markets: Treasury chief Bessent
U.S. Treasury Secretary Scott Bessent on Thursday said Wall Street should shrug off President Donald Trump's latest threat to impose steep tariffs on foreign trading partners.Asked on CNBC's "Squawk on the Street" about Trump's threat to ratchet up tariffs on European...
RBI may go for 75 bps rate cut this fiscal, 25 bps each in April, June and October 2025: Report, ET BFSI
RBI may go for 75 bps rate cut this fiscal, 25 bps each in April, June and October 2025: ReportNew Delhi [India], March 13 (ANI): SBI research ecowrap predicts 75 basis points rate cut this fiscal. Experts believe that CPI inflation will be 3.9 per cent in the fourth...
RBI rate cuts likely to boost India Inc’s debt serviceability, ET BFSI
RBI rate cuts likely to boost India Inc’s debt serviceabilityThe Reserve Bank of India’s (RBI) expected rate-cut cycle is set to lower borrowing costs for companies, improving their debt serviceability, according to a recent analysis by Bank of Baroda. The study,...
Judge blocks Trump’s executive order seeking to punish law firm Perkins Coie
U.S. President Donald Trump speaks before signing executive orders in the Oval Office of the White House on March 6, 2025 in Washington, DC.Alex Wong | Getty ImagesA federal judge blocked President Donald Trump's administration Wednesday from enforcing portions of an...
Inflation slips below RBI’s target of 4%, BFSI News, ET BFSI
Subdued food prices in February pulled down retail inflation below Reserve Bank's median target of 4 % while the country's manufacturing sector pushed the key factory output index to 5 % in Jan, showed data released by the govt Wednesday. The sharp decline in...
Trump pardons former Tennessee Sen. Brian Kelsey
Former Tennessee Sen. Brian Kelsey, left, arrives at federal court, Nov. 22, 2022, in Nashville, Tenn. On Monday, July 8, 2024, a federal appeals panel ruled to keep a 21-month prison sentence in place for the former Tennessee state senator who tried to withdraw his...
Inflation slips below RBI’s target of 4%, BFSI News, ET BFSI
Subdued food prices in February pulled down retail inflation below Reserve Bank's median target of 4 % while the country's manufacturing sector pushed the key factory output index to 5 % in Jan, showed data released by the govt Wednesday. The sharp decline in...
Canada to impose 25% retaliatory tariffs on $21 billion worth of U.S. goods
Workers remove a coil from the production line for quality-control testing during steel production at the NLMK Indiana steel mill on March 15, 2018 in Portage, Indiana.Scott Olson | Getty ImagesCanada said Wednesday it will impose 25% tariffs on more than $20 billion...
India seeks applications to recognise self-regulatory body for account aggregators, ET BFSI
MUMBAI - India's central bank has invited applications to recognise a self-regulatory organisation for account aggregators that facilitate the exchange of information between financial and market institutions. The Reserve Bank of India will recognize one...
How much has the RBI spent to stop the rupee fall?, BFSI News, ET BFSI
How much has the RBI spent to stop the rupee fall?The Reserve Bank of India (RBI) was a net seller of over $36 billion in the foreign exchange market between June and December 2024 in an attempt to stabilise the rupee, according to a written response by the government...
Trump’s Business Roundtable meeting comes as stocks slide
President Donald Trump spoke Tuesday with top CEOs, many of whom have seen the value of their companies slashed as Trump's tariff-heavy economic policy has raised uncertainty and fueled a market sell-off.Trump, a major proponent of tariffs, told the room full of...
RBI Asks Banks for Details on Hedging, Forex Derivatives, BFSI News, ET BFSI
Saloni Shukla & Sangita MehtaMumbai: The Reserve Bank of India (RBI) is now busy assessing whether lapses linked to unhedged forex liabilities are restricted to the embattled IndusInd Bank, currently facing what its chief executive described as a litmus test, or...
China’s commerce ministry held talks with Walmart: State media says
A Walmart Supercenter in Burbank, California, on Nov. 21, 2024.Allen J. Schaben | Los Angeles Times | Getty ImagesChina's Ministry of Commerce has held talks with Walmart after the U.S. retail giant reportedly requested price cuts from Chinese suppliers to offset...
India bond traders look to RBI, inflation data for cues, ET BFSI
Indian government bond yields continue to be largely steady in early deals on Wednesday as market participants await domestic inflation data as well as the central bank's debt purchase.The benchmark 10-year yield was at 6.6953% as of 9:45 a.m. IST, compared with its...
RBI set for further easing amid growth concerns: Pranjul Bhandari, ET BFSI
"We are going to keep our eyes on wheat and sugar for the next few months. But for now, we are going to celebrate the fact that a lot of other food prices have actually come off and we are at target inflation," says Pranjul Bhandari, HSBC Securities.Are you also...
Trump’s 25% tariffs on steel and aluminum imports take effect, Europe retaliates
Steel coils are pictured in the yards of the steelmaker Ternium plant.Daniel Becerril | ReutersU.S. President Donald Trump's 25% tariffs on steel and aluminum imports came into effect Wednesday, resulting in swift counter-measures from the European Union.The White...
Ukraine agrees to U.S.-led ceasefire plan if Russia accepts
Ukraine agreed Tuesday to an immediate 30-day ceasefire negotiated by the United States if Russia accepts the plan, officials said.As part of the plan, the United States immediately lifted its pause on sharing intelligence with Ukraine, and will resume security...
Ontario’s Ford suspends U.S. electric surcharge, says Lutnick agrees to trade talks
Ontario Premier Doug Ford gives remarks at a press conference in Queen's Park on March 10, 2025 in Toronto, Canada. Katherine Ky Cheng | Getty ImagesOntario Premier Doug Ford on Tuesday said he was temporarily suspending his province's 25% surcharge on electricity...
USDA cuts over $1 billion in funding for schools, local food purchases
4th graders are served lunch at Heather Hills Elementary School in Bowie, Md., on Oct. 22, 2024. Tom Williams | CQ-Roll Call, Inc. | Getty ImagesThe U.S. Agriculture Department has cut two federal programs that spent over $1 billion annually to help schools and food...
Trump risks recession from tariffs: Doug Ford
Ontario Premier Doug Ford said Tuesday that if there is a recession "there's one person to be blamed, and that's President [Donald] Trump.""If we go into a recession, it will be called the Trump recession," Ford warned in an interview with CNBC's "Money Movers" after...
Trump raises Canadian steel, aluminum tariffs to 50% in retaliation for Ontario energy duties
U.S. President Donald Trump sits in the Oval Office of the White House in Washington, D.C., U.S., March 7, 2025. Leah Millis | ReutersPresident Donald Trump said Tuesday he has ordered his administration to raise tariffs on Canadian steel and aluminum imports by an...
Issue of Rs 100 & Rs 200 Banknotes with new RBI Governor’s signature, ET BFSI
The Reserve Bank of India (RBI) announced on Tuesday that it will soon issue new Rs 100 and Rs 200 banknotes in the Mahatma Gandhi (New) Series, bearing the signature of RBI Governor Sanjay Malhotra.These new banknotes will have the same design as the existing Rs 100...
RBI cracks down on four P2P lending firms for regulatory violations, slaps Rs 76.60 lakh fine, ET BFSI
RBIThe Reserve Bank of India (RBI) has imposed a cumulative penalty of Rs 76.6 lakh on four peer-to-peer (P2P) lending platforms—Faircent, Finzy, Visionary Financepeer, and Rang De P2P Financial Services—for non-compliance with NBFC-P2P guidelines. The action follows...
Stock market plunge not as ‘meaningful’ as business moves
The White House on Monday downplayed the weeks long stock market sell-off, insisting that recent moves by business leaders suggest a brighter outlook for the U.S. economy."We're seeing a strong divergence between animal spirits of the stock market and what we're...
Striking a balance between investor protection and business growth, ET BFSI
SEBI can further enhance the ease of doing business in India's capital markets while maintaining high standards of investor protection and market integrity.SEBI's recent circular issued on January 8, 2025 about governance of various market entities in India has...
Elon Musk forecasts DOGE savings as Tesla shares tank
DOGE chief Elon Musk said Monday that he is running his businesses "with great difficulty," as shares of his automotive firm Tesla suffered their worst drop in a half-decade, and as his social media company X experienced several outages.Musk also said during an...
Relief now, inflation risks ahead?, ET BFSI
The Reserve Bank of India’s (RBI) latest liquidity measures have provided immediate relief to the banking system, pushing bank stocks higher and easing concerns over a funding crunch. However, the scale of intervention—Rs 1 lakh crore through open market operations...
RBI hints at ‘soft-touch’ approach towards innovation in payments ecosystem, fintechs, ET BFSI
RBI hints at ‘soft-touch’ approach towards innovation in payments ecosystem, fintechs The Reserve Bank of India (RBI) Governor Sanjay Malhotra has hinted a ‘soft-touch’ approach towards the innovation in the payments ecosystem and fintechs saying we will continue to...
Can Trump launch Iran nuclear deal 2.0 in second White House term?
An Iranian missile system is displayed next to a banner with a picture of Iran's Supreme Leader Ayatollah Ali Khamenei and the late Lebanon's Hezbollah leader Hassan Nasrallah, in a street in Tehran, Iran, October 2, 2024. Majid Asgaripour | Via ReutersIran's fortunes...
Trump Media falls more than 11% as broader sell-off intensifies
Anna Barclay | Getty ImagesShares of Trump Media dropped more than 10% in intraday trading Monday, accelerating the company's downward slide since President Donald Trump took office.The company behind Trump's preferred social media app Truth Social was trading below...
Greater tariff and trade clarity is what all CEOs always want
U.S. President Donald Trump speaks to reporters as White House Press Secretary Karoline Leavitt stands by him aboard Air Force One on his return to Washington, D.C., U.S., March 9, 2025. Kevin Lamarque | ReutersPresident Donald Trump has dismissed the growing chorus...
Rs 3,600 cr allocated for higher education loans till 2030-31, ET BFSI
New Delhi, An outlay of Rs 3,600 crore under the PM Vidyalaxmi scheme has been made from 2024-25 to 2030-31 for providing 3 per cent interest subvention benefit for up to 7 lakh fresh students seeking guarantor-free education loan for high education, the Lok Sabha was...
Mark Carney wins race to replace Canada’s Trudeau
Former Bank of Canada and Bank of England governor Mark Carney speaks as members of Canada's Liberal Party gather to choose a successor to Prime Minister Justin Trudeau, in Ottawa, Ontario, Canada, on March 9, 2025.Blair Gable | ReutersFormer central banker Mark...
Layoffs at Department of Veterans’ Affairs will begin early as June
A person walks past the Department of Veterans Affairs headquarters a block from the White House on March 06, 2025 in Washington, DC. Chip Somodevilla | Getty Images News | Getty ImagesThe Department of Veterans Affairs will begin mass layoffs at the politically...
Trump downplays concerns about his tariffs and higher prices
U.S. President Donald Trump attends the White House Crypto Summit at the White House in Washington, D.C., U.S., March 7, 2025. Evelyn Hockstein | ReutersPresident Donald Trump is dismissing business concerns over the uncertainty caused by his planned tariffs on a...
House Republicans unveil bill to avoid shutdown and they’re daring Democrats to oppose it
House Republicans unveiled a spending bill Saturday that would keep federal agencies funded through Sept. 30, pushing ahead with a go-it-alone strategy that seems certain to spark a major confrontation with Democrats over the contours of government spending.The...
Unions ask court to stop DOGE from access of Social Security data
"Close up photograph of Social Security cards against currency background, selective focus.Similar Images:"Richcano | E+ | Getty ImagesA group of labor unions are asking a federal court for an emergency order to stop Elon Musk 's Department of Government Efficiency...
Trump’s golf resort in Scotland vandalized with pro-Palestinian graffiti
General view of the entrance to the clubhouse at Trump Turnberry golf resort in Turnberry, Scotland.Tom Bergin | ReutersU.S. President Donald Trump's Turnberry golf resort in Scotland has been daubed with pro-Palestinian graffiti, with a protest group claiming...
Cooling inflation reinforces case for potential RBI rate cuts: Report, ET BFSI
New Delhi, India's inflation fell to 4.31 per cent in January from 5.22 per cent, approaching the RBI's 4 per cent target after four months above 5 per cent and this trend reinforces the case for potential rate cuts, with the repo rate at 6.25 per cent, a new report...
Trump Organization sues Capital One over account closures after Jan. 6
U.S. President Donald Trump speaks with members of the media on the South Lawn before boarding Marine One at the White House, in Washington, D.C., U.S., Feb. 28, 2025. Nathan Howard | ReutersThe Trump Organization sued Capital One in Florida on Friday for allegedly...
RBI’s VRR auctions see muted response on easing liquidity, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India's (RBI) auctions Friday to infuse funds into the banking system saw less enthusiastic participation on improving liquidity following a raft of earlier measures, bank treasury executives said.Although the banking sector's liquidity...
China to slap retaliatory tariffs on some Canadian products
Containers at the Port of Vancouver in Vancouver, British Columbia, Canada, Feb. 28, 2025.Ethan Cairns/Bloomberg via Getty ImagesChina on Saturday announced retaliatory tariffs on some Canadian agricultural goods, hitting back after Ottawa slapped import duties on...
RBI imposes Rs 76.6 lakh penalty on 4 entities, BFSI News, ET BFSI
The Reserve Bank on Friday said it has imposed Rs 76.6 lakh penalty on four non-banking financial companies for non-compliance with certain provisions of its directions related to 'peer-to-peer lending platform'. A penalty of Rs 40 lakh has been imposed on Fairassets...
U.S. cancels $400 million in grants, contracts to Columbia University over Gaza protests
Students protest against the war in Gaza on the anniversary of the Hamas attack on Israel at Columbia University in New York, New York, on Monday, Oct. 7, 2024.Victor J. Blue | The Washington Post | Getty ImagesU.S. President Donald Trump's administration has canceled...
European leaders back defense spend push amid uncertainty over Trump aid to Ukraine
A week since Ukrainian President Volodymyr Zelenskyy's heated expulsion from the White House, European leaders have upped the ante on defense spending plans as they seek to support Kyiv and fill a potential void of U.S. aid. This week, the European Commission...
India set to overcome worst cash crunch in years on RBI steps, ET BFSI
India is heading toward plugging one of the worst-ever liquidity deficits in the financial system, following aggressive steps by the central bank to inject cash.The liquidity shortfall, measured through lenders’ borrowings from the central bank, has eased to 793...
EPFO 3.0 will rollout soon, will allow subscribers to withdraw funds from ATMs: Minister, ET BFSI
Mansukh MandaviyaHyderabad: Union Labour Minister Mansukh Mandaviya announced on Thursday that the Employees Provident Fund Organisation (EPFO) will soon launch the "EPFO 3.0 version," which will allow subscribers to withdraw funds from ATMs, along with several other...
Trump blames ‘globalists’ for stock market sell-off
U.S. President Donald Trump speaks in the Oval Office, on the day he signs executive orders, at the White House in Washington, D.C., U.S. March 6, 2025. Evelyn Hockstein | ReutersMajor stock indices dropped sharply this week, as rattled investors struggled to get a...
Too much easing of loans could be a hidden peril in India’s growth story, ET BFSI
Sanjay Malhotra, the new Reserve Bank of India governor, is right to unwind some of his predecessor’s hawkish controls on a runaway consumer-credit boom. There was a time to throw sand in the wheels of commerce. Right now, though, a sputtering growth engine needs...
Trump broke law firing NLRB member Wilcox, judge rules
Gwynne Wilcox, attorney who was a member and chairman of the National Labor Relations Board.Courtesy: National Labor Relations BoardA federal judge on Thursday reversed the firing of a National Labor Relations Board member by President Donald Trump, with a scathing...
How are RBI’s measures to shore up banking liquidity working, ET BFSI
The Reserve Bank of India (RBI) is taking aggressive steps to address the persistent liquidity deficit in the banking system, which has remained in shortfall for 11 consecutive weeks. Despite earlier interventions, factors such as tax outflows, volatile capital flows,...
Ethics watchdog fired by Trump drops lawsuit challenging dismissal
FILE PHOTO: Special Counsel of the U.S. Office of Special Counsel Hampton Dellinger poses for a portrait in an undated handout image.U.S. Office Of Special Counsel | Via ReutersA top federal ethics watchdog who was fired last month by President Donald Trump said...
House censures Rep. Al Green for heckling Trump speech
Rep. Al Green (D-TX) shouts out as U.S. President Donald Trump addresses a joint session of Congress at the U.S. Capitol on March 04, 2025 in Washington, DC.Win Mcnamee | Via ReutersThe House of Representatives voted Thursday to censure Texas Democratic Rep. Al Green...
RBI may make it tougher for you to get gold loans from banks, BFSI News, ET BFSI
India's central bank plans to ask lenders to follow stricter underwriting processes for gold loans and monitor the end-use of funds as it tries to cool growth in the fast-growing segment, seven people, including industry sources and those aware of the regulator's...
Nirmala Sitharaman says will have to watch trade talks with US, ET BFSI
India's Commerce Minister Piyush Goyal is in the United States for trade talks and the negotiations have to be watched, Finance Minister Nirmala Sitharaman said on Thursday, as President Donald Trump's plan to slap reciprocal tariffs looms."We will have to see how...
Trump administration removes ethics watchdog Dellinger
FILE PHOTO: Special Counsel of the U.S. Office of Special Counsel Hampton Dellinger poses for a portrait in an undated handout image.U.S. Office Of Special Counsel | Via ReutersA federal appeals court on Wednesday allowed the Trump administration to remove a top...
Trump’s protectionist policies could push Europe toward China
US President Donald Trump waits to greet British Prime Minister Keir Starmer at the entrance of the West Wing of the White House in Washington, DC, on February 27, 2025. Carl Court | Afp | Getty ImagesTensions between the U.S. and Europe have hit something of a low in...
India faces growing pressure to adopt crypto after US strategic reserve move, ET BFSI
India faces growing pressure to adopt crypto after US strategic reserve moveIndia is facing increasing pressure to establish a clear regulatory framework for cryptocurrencies following the US administration’s decision to create a strategic cryptocurrency reserve....
RBI announces Rs 1 lakh crore bond purchases, $10 billion swap to address liquidity deficit, ET BFSI
The Reserve Bank of India (RBI) late Wednesday stepped up measures to infuse durable liquidity into the banking system and create conditions conducive to quickening transmission of lower policy rates so that expected outflows, ahead of the March 15 deadline for...
How Europe could seize frozen Russian assets to fund Ukraine
European Union, and Ukrainian flags fly in front of the Berlaymont, the EU Commission headquarters, for the 3rd anniversary of the large scale invasion of Ukraine by Russia on Feb. 24, 2025 in Brussels, Belgium.Thierry Monasse | Getty Images News | Getty...
RBI governor holds meet with fintechs and others, says there is need for compliance by entities new to regulatory space, ET BFSI
Reserve Bank of India chief Sanjay Malhotra on Wednesday held an interaction with non-bank Payment System Operators and FinTechs along with their associations/SROs. The interaction was a part of the Reserve Bank's series of engagements with the Payments and Fintech...
‘Obstacles’ in Egypt’s $53 billion plan to rebuild Gaza, install Palestinian Authority control
Egyptian President Abdel Fattah el-Sisi poses for a picture with leaders as Egypt hosts emergency Arab summit to discuss Palestinian developments, at Egypt's New Administrative Capital in Cairo, March 4, 2025. Egyptian Presidency | Via ReutersArab states led by Egypt...
RBI’s record $77.5 billion short positions may impact rupee liquidity and forex reserves, ET BFSI
The Reserve Bank of India's net short positions in the dollar forward book may have to be rolled over and more could be added in the longer tenure segment as any unwinding will squeeze rupee liquidity. However, the trading position would impact the market's view on...
Govt should ease lending restrictions on NBFCs to improve credit for MSMEs: World Bank, ET BFSI
New Delhi [India], March 6 (ANI): In a bid to enhance the availability of credit for Micro, Small, and Medium Enterprises (MSMEs), the World Bank, in its latest report, has stated that the government should remove the interest cap on NBFCs to ease the lending...
‘Tariff war, a trade war or any other type of war’ — China says it’s ready to fight
This photo shows a general view of a screen broadcasting live footage of China's President Xi Jinping attending the opening session of the National People's Congress (NPC) as seen outside a shopping mall in Beijing on March 5, 2025. Greg Baker | Afp | Getty...
Michael Grimes expected to lead new U.S. sovereign wealth fund: Reuters
Michael Grimes, head of global technology investment banking at Morgan Stanley, smiles while speaking to freshman students enrolled in the Management, Entrepreneurship, and Technology (M.E.T.) program during an orientation at the University of California-Berkeley...
Trump Commerce chief Lutnick blames Biden for economy
President Donald Trump acknowledges the crowd after his inauguration as the 47th president of the United States, in the Rotunda of the U.S. Capitol in Washington, D.C., Jan. 20, 2025.Shawn Thew | Via ReutersCommerce Secretary Howard Lutnick argued Wednesday that...
Supreme Court denies Trump’s request to cancel USAID payments
A divided U.S. Supreme Court on Wednesday declined to let President Donald Trump's administration withhold payment to foreign aid organizations for work they already performed for the government as the Republican president moves to pull the plug on American...
Trump lawyer Alina Habba questions fired veterans’ fitness
(L-R) Attorney Alina Habba speaks as Donald Trump looks on during a press conference at Trump Tower in New York City on Sept. 6, 2024.Charly Triballeau | AFP | Getty ImagesPresident Donald Trump's top lawyer Alina Habba on Tuesday questioned whether some military...
Trump could scale back Canada, Mexico tariffs Wednesday, Lutnick says
President Donald Trump will "probably" announce tariff compromise deals with Canada and Mexico soon, Commerce Secretary Howard Lutnick said Tuesday. The potential agreements would likely involve scaling back at least part of Trump's brand new 25% tariffs on imports...
Hike in deposit insurance limit beyond Rs 5 lakh to impact banks’ profits: Icra, ET BFSI
A hike in insurance limit on bank deposits above Rs 5 lakh is expected to have a "marginal but notable" impact on lenders' profit, rating agency Icra said on Wednesday. At present, deposits up to Rs 5 lakh by an individual customer is covered by the Deposit Insurance...
Canada requests WTO consultations with U.S. over ‘unjustified tariffs’, says ambassador
Canada's Prime Minister Justin Trudeau speaks during a news conference about the US tariffs against Canada on March 4, 2025 on Parliament Hill in Ottawa, as Foreign Minister Melanie Joly (L) and Minister of Finance and Intergovernmental Affairs Dominic Leblanc look...
RBI appoints Ajit Ratnakar Joshi as new Executive Director, BFSI News, ET BFSI
On Wednesday, RBI announced the promotion of Ajit Ratnakar Joshi to Executive Director, with effect from 3rd of March.As the new Executive Director, he will oversee the Department of Statistics and Information Management and Financial Stability Department.The reserve...
Trump blasted for Jan. 6 Capitol riot, pardons
Trump supporters clash with police and security forces as they storm the US Capitol in Washington, DC on January 6, 2021.Olivier Douliery | AFP | Getty ImagesPresident Donald Trump was blasted online Tuesday night over his pardoning of Jan. 6 U.S. Capitol riot...
Al Green ejected from Trump address to Congress for heckling
Rep. Al Green was ejected from the House of Representatives chamber Tuesday night after the Texas Democrat repeatedly heckled President Donald Trump as he gave a speech to a joint session of Congress.Green was removed from the chamber at the order of House Speaker...
Trump addresses joint session of Congress
President Donald Trump addressed a joint session of Congress on Tuesday night amid stock market turmoil driven by his stiff new tariffs on Canada, Mexico and China, and the controversy over Elon Musk's DOGE campaign to slash federal spending and workforce levels.The...
RBI directs large NBFCs to stop new lines of credit and renewals, ET BFSI
Mumbai: The Reserve Bank of India (RBI) has directed large finance companies to discontinue the practice of extending to companies a 'line of credit' - essentially, a customised, working capital-like debt facility - over concerns that the repayment structures inherent...
Trump says a ‘little disturbance’ from tariffs is OK, as markets reel from trade war fears
U.S. President Donald Trump delivers a speech to a joint session of Congress, in the House Chamber of the U.S. Capitol in Washington, D.C., U.S., March 4, 2025. Kevin Lamarque | ReutersPresident Donald Trump conceded before a joint session of Congress that his steep...
Inclusive financial approach crucial for economic growth, social equity: Govt official, ET BFSI
New Delhi, To achieve the vision of a developed India by 2047, we need a broad-based and inclusive financial approach as a crucial wheel for the growth of the economy and social equity, a senior government official said on Wednesday.Anita Shah Akella, CEO, IEPF...
U.S. will control it ‘one way or the other’
President Donald Trump said Tuesday that the United States would take control of Greenland "one way or the other," escalating months of increasingly aggressive rhetoric towards the self-governing Danish territory.Addressing a joint session of Congress in Washington,...
RBI’s $15-billion dollar-rupee swaps helping Indian companies raise cheaper overseas loans, ET BFSI
Mumbai: Non-bank lenders and companies could spend less on foreign-currency loans as the Reserve Bank of India's (RBI) $15-billion dollar-rupee swaps, aimed at boosting domestic liquidity, have also helped reduce the benchmark rate used to price currency risks in the...
RBI’s $15-billion dollar-rupee swaps helping Indian companies raise cheaper overseas loans, ET BFSI
Mumbai: Non-bank lenders and companies could spend less on foreign-currency loans as the Reserve Bank of India's (RBI) $15-billion dollar-rupee swaps, aimed at boosting domestic liquidity, have also helped reduce the benchmark rate used to price currency risks in the...
Trump touts BlackRock’s Panama Canal port deal in address to Congress
US President Donald Trump speaks during an address to a joint session of Congress at the US Capitol in Washington, DC, on March 4, 2025. Mandel Ngan | Via ReutersPresident Donald Trump on Tuesday touted the U.S. asset management firm BlackRock's deal to buy two Panama...
The levies push limits of presidential authority
U.S. President Donald Trump reacts as he speaks with members of the media on the South Lawn before boarding Marine One at the White House, in Washington, D.C., U.S., Feb. 28, 2025. Nathan Howard | ReutersU.S. importers and their customers are about to experience the...
Need to develop new modes of credit delivery for low-cost, timely credit to MSMEs: PM Modi, ET BFSI
New Delhi, Prime Minister Narendra Modi on Tuesday said there is a need to develop new modes of credit delivery to ensure access of timely and low-cost funds to over six crore MSMEs across the country. Addressing a post-Budget webinar for Micro, Small and Medium...
Europe looks to mobilize $840 billion in defense spending boost, EU Commission head says
President of the European Commission Ursula von der Leyen arrives to give a press conference on the "Defence package" at the EU Commission headquarters in Brussels on March 4, 2025. (Photo by Nicolas TUCAT / AFP) (Photo by NICOLAS TUCAT/AFP via Getty Images)Nicolas...
RBI making a pivotal regulatory shift under new Governor, BFSI News, ET BFSI
RBI Governor Sanjay Malhotra.The Reserve Bank of India (RBI) has taken a relaxed stance under Governor Sanjay Malhotra, signaling a shift in regulatory approach to support banking sector stability and economic growth amid a slowdown. The central bank has introduced...
Trump tariffs on Canada and Mexico take effect Tuesday
President Donald Trump said that on Tuesday he will impose 25% tariffs on goods imported from Canada and Mexico, dashing hopes for a last-minute deal that could avoid a trade war with two of the U.S.' top trading partners.Trump told reporters there was "no room left...
RBI DG to lenders, ET BFSI
Mumbai, Reserve Bank Deputy Governor Swaminathan J on Monday said that showing empathy towards distressed borrowers from small businesses is important for lenders. Addressing the 29th Meeting of the Standing Advisory Committee (SAC) to review the flow of credit to the...
Trump halts all U.S. military aid to Ukraine, White House official says
U.S. President Donald Trump meets with Ukrainian President Volodymyr Zelenskyy at the White House in Washington, D.C., U.S., Feb. 28, 2025. Brian Snyder | ReutersU.S. President Donald Trump has paused all military aid to Ukraine following his clash with Ukrainian...
Cong on rising gold loans, ET BFSI
New Delhi, The Congress on Tuesday flagged the issue of rise in gold loans and claimed that the Indian economy is "deep in a Modi-made crisis". Congress general secretary in-charge communications Jairam Ramesh cited the February RBI data and pointed out that gold...
Trump expected to discuss TSMC investment in U.S.
[The stream is slated to start at 1:30 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Donald Trump is expected on Monday to formally announce a planned $100 billion investment in the U.S. by chip manufacturer Taiwan...
Laadki Bahin instalment for Feb to be released on eve of International Women’s Day: Minister, ET BFSI
Mumbai, Maharashtra Minister Aditi Tatkare on Monday said the allowance under the Mukhya Mantri Majhi Laadki Bahin Yojana for February will be disbursed to beneficiaries on the eve of International Women's Day. Talking to reporters in the Vidhan Bhavan premises, the...
EU leaders prepare ‘concrete’ measures on defense financing, sources say
LONDON — The European Union is expected to announce "concrete" measures on boosting defense financing this week, sources told CNBC, as Europe and the United States clash over support for Ukraine.The 27 EU leaders will gather in Brussels on Thursday for a meeting...
How will RBI’s $10 billion forex swap impact banks, inflation, interest rates, liquidity?, ET BFSI
The Reserve Bank of India (RBI) has announced a $10 billion forex swap auction to tackle the ongoing liquidity crunch in the banking sector and strengthen foreign exchange reserves. With the Indian banking system facing a severe cash deficit, this move aims to inject...
JD Vance blasted on Vermont ski trip for Zelenskyy clash
U.S. Vice President J.D. Vance speaks during a swearing-in ceremony for newly confirmed CIA Director John Ratcliffe at the Eisenhower Executive Office Building at the White House on Jan. 23, 2025 in Washington, DC. Kent Nishimura | Getty ImagesCrowds gathered in a...
Scott Bessent says Trump tariffs won’t cause inflation to increase
U.S. Secretary of the Treasury Scott Bessent speaks at the White House in Washington on Feb. 3, 2025.Elizabeth Frantz | ReutersTreasury Secretary Scott Bessent said Sunday that President Donald Trump's proposed tariffs are unlikely to raise inflation, in part because...
Indians must work hard to achieve USD 30 tn economy by 2047: Amitabh Kant, ET BFSI
New Delhi, Indians must work hard to achieve the ambitious target of making India a USD 30 trillion economy by 2047, former Niti Aayog CEO Amitabh Kant has said. Joining the ongoing debate on working hours, India's G20 Sherpa said Japan, South Korea and China have...
After Trump clash, Ukraine’s Zelenskyy gets warm UK welcome before European summit
Britain's Prime Minister Keir Starmer and Ukrainian President Volodymyr Zelenskyy shake hands during a bilateral meeting at 10 Downing Street ahead of a summit of European leaders, on March 1, 2025, in London.Peter Nicholls | Via ReutersBritish Prime Minister Keir...
U.S. federal workers hit with second wave of emails demanding job details
Elon Musk speaks during the first cabinet meeting hosted by U.S. President Donald Trump, at the White House in Washington, DC, U.S., February 26, 2025. Brian Snyder | ReutersThe Trump administration sent out a second round of emails on Friday evening demanding all...
Trump objected to Zelenskyy disrespect, White House says
U.S. President Donald Trump meets with Ukrainian President Volodymyr Zelenskiy at the White House in Washington, D.C., U.S., February 28, 2025. Brian Snyder | ReutersPresident Donald Trump found the tone and body language of Ukrainian President Volodymyr Zelenksyy...
Andrew Cuomo launches campaign for NYC mayor
Former Gov. Andrew Cuomo, D-N.Y., arrives for a closed-door interview with the House Oversight and Accountability Subcommittee on Coronavirus Pandemic about New York's response to COVID-19, at O'Neill building in Washington, D.C., on Tuesday, June 11, 2024. Tom...
Judge blocks Trump order threatening funding for institutions that offer care for transgender youth
President Donald Trump's plan to pull federal funding from institutions that provide gender-affirming care for transgender youth will remain blocked on a long-term basis under a federal judge's ruling in Seattle late Friday.U.S. District Court Judge Lauren King...
Norway plans to raise financial support for Ukraine, prime minister says
Ukrainian President Volodymyr Zelensky (2L) attends a Nordic summit meeting with leaders of the five Nordic nations, key backers in Kyiv's fight against Russia's invasion on December 13, 2023 in Oslo. Cornelius Poppe | Afp | Getty ImagesThe Norwegian government will...
Firings at the U.S. weather and oceans agency risk lives and the economy, former agency heads warn
Signage outside the National Oceanic and Atmospheric Administration (NOAA) Center for Weather and Climate Prediction headquarters in College Park, Maryland, US, on Thursday, Dec. 5, 2024. The conservative Project 2025 roadmap calls for slashing NOAA funding at a time...
RBI Fines HSBC, IIFL Samasta, BFSI News, ET BFSI
Mumbai: Reserve Bank of India has imposed a ₹33 lakh penalty on micro finance company IIFL Samasta Finance for non-compliance with RBI directions on loan period, non- classification of certain loan accounts as NPA despite being 90 days or more overdue, and alloting...
‘Not good for both sides’
Ukrainian President Volodymyr Zelensky speaks during an interview with Fox News Chief Political Anchor Bret Baier on Special Report With Bret Baier at the Fox News studios on Feb. 28, 2025 in Washington, DC.Win McNamee | Getty ImagesUkrainian President Volodymyr...
Zelenskyy leaves White House after Ukraine talks collapse
Ukrainian President Volodymyr Zelenskyy departs after a press conference with U.S. President Donald Trump was canceled following their Oval Office meeting at the White House in Washington, D.C., U.S., February 28, 2025. Nathan Howard | ReutersUkrainian President...
Mexico extradites drug cartel members amid Trump tariff threat
Soldiers escort a man who authorities identified as Omar Trevino Morales, alias "Z-42," leader of the Zetas drug cartel, as he is moved from a military plane to a military vehicle at the Attorney General's Office hangar in Mexico City, March 4, 2015.Eduardo Verdugo |...
Trump, Vance and Zelenskyy clash at White House Ukraine meeting
U.S. President Donald Trump meets with Ukrainian President Volodymyr Zelenskiy as U.S. Vice President JD Vance reacts at the White House in Washington, D.C., U.S., Feb. 28, 2025. Brian Snyder | ReutersPresident Donald Trump and Vice President JD Vance argued with...
Trump to sign order making English the official U.S. language
US President Donald Trump waits to greet British Prime Minister Keir Starmer at the entrance of the West Wing of the White House in Washington, DC, on February 27, 2025. Carl Court | Afp | Getty ImagesPresident Donald Trump plans to sign an executive order making...
Trump says minerals deal with Ukraine is worth billions. Is it?
Workers go about their job at a granite mine on Feb. 26, 2025 in the Zhytomyr region of Ukraine. Kostiantyn Liberov | Libkos | Getty ImagesUkraine might have turned the tide in its rocky relations with the U.S. by offering President Donald Trump's administration...
Trump, British Prime Minister Starmer press conference
[The stream is slated to start at 2 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Donald Trump and British Prime Minister Keir Starmer are holding a joint press conference at the White House on Thursday.Starmer and Trump...
Finance Secretary Tuhin Kanta Pandey appointed as SEBI Chairman for three years, ET BFSI
Tuhin Kanta Pandey succeeds Madhabi Puri Buch as SEBI ChairmanThe Appointments Committee of the Cabinet (ACC) on Thursday announced the appointment of Tuhin Kanta Pandey as the new Chairman of the Securities and Exchange Board of India (SEBI) for a tenure of three...
Trump signals U.S., U.K. could reach ‘real trade deal’ without tariffs
U.K. Prime Minister Keir Starmer and U.S. President Donald Trump at a joint press conference in the East Room at the White House on Feb. 27, 2025, in Washington, D.C.Carl Court | Getty Images News | Getty ImagesU.S. President Donald Trump signaled the U.K. could...
Will RBI ease risk weights on credit cards and personal loans next?, ET BFSI
The Reserve Bank of India’s (RBI) recent decision to roll back higher risk weights on bank lending to non-banking financial companies (NBFCs) and microfinance institutions (MFIs) has raised speculation about whether similar relief will be extended to credit cards and...
As Trump breaks ranks with Europe, are Asia-Pacific allies next?
With the U.S. now having a more hostile stance to NATO, what are the security implications for Asia?Zhangshuang | Moment | Getty ImagesJust over a month into the second term of Donald Trump's presidency, U.S. foreign policy has been upended, especially in Europe.The...
FM Sitharaman, EU commissioners discuss Economic Cooperation, FinTech, Trade, and Investment, ET BFSI
New Delhi [India], February 28 (ANI): Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, met with Maria Luis Albuquerque, European Commissioner of Financial Services, Savings and Investments Union, and Piotr Serafin, European Commissioner of Budget,...
Trump says Mexico, Canada tariffs will start March 4, plus additional 10% on China
U.S. President Donald Trump hosts his first cabinet meeting with Elon Musk in attendance, Washington, D.C., U.S., February 26, 2025. Brian Snyder | ReutersPresident Donald Trump on Thursday said that his proposed tariffs on Mexico and Canada will go into effect on...
Trump directs agencies to review, terminate ‘unnecessary’ contracts
U.S. President Donald Trump looks on on the day he signs an executive order in the Oval Office, at the White House in Washington, D.C., U.S. Feb. 25, 2025. Evelyn Hockstein | ReutersU.S. President Donald Trump issued an executive order on Wednesday aimed at...
Trump takes fight over foreign aid funding to U.S. Supreme Court
U.S. President Donald Trump talks to reporters from the Resolute Desk after signing an executive order to appoint the deputy administrator of the Federal Aviation Administration in the Oval Office at the White House on January 30, 2025 in Washington, DC.Chip...
Trump threatens 25% tariffs on EU, says bloc formed ‘to screw’ U.S.
US President Donald Trump holds a cabinet meeting at the White House in Washington, DC, on February 26, 2025. Jim Watson | Afp | Getty ImagesU.S. President Donald Trump threatened to impose 25% tariffs on imports from the European Union, claiming that the economic and...
Will RBI’s risk weight relaxation revive credit growth?, ET BFSI
RBIThe Reserve Bank of India's (RBI) decision to relax risk weights on bank lending to non-banking financial companies (NBFCs) and microfinance loans (MFIs) is expected to free up bank capital, yet policy transmission delays could slow the impact on credit growth and...
New York Mayor Eric Adams seeks criminal case dismissal
New York Mayor Eric Adams listens to questions from reporters during a press conference at NYPD's 40th Precinct on Feb. 20, 2025 in New York City.Michael M. Santiago | Getty ImagesAttorneys for New York City Mayor Eric Adams asked a federal judge Wednesday for an...
Trump administration, DOGE hit roadblocks in three court cases
U.S. President Donald Trump meets with French President Emmanuel Macron at the White House in Washington, D.C., on Feb. 24, 2025.Brian Snyder | ReutersA trio of federal judges on Tuesday dealt the Trump administration setbacks in separate court cases involving federal...
White House identifies DOGE administrator amid questions on Elon Musk’s role
Elon Musk, CEO of Tesla and SpaceX, speaks at the Conservative Political Action Conference at the Gaylord National Resort Hotel and Convention Center in Oxon Hill, Maryland, Feb. 20, 2025.Andrew Harnik | Getty ImagesThe acting administrator of President Donald Trump's...
Trump floats $5 million ‘gold card’ as a route to U.S. citizenship
U.S. President Donald Trump speaks on the day he signs an executive order in the Oval Office, at the White House in Washington, D.C., U.S., Feb. 25, 2025. Evelyn Hockstein | ReutersU.S. President Donald Trump on Tuesday floated the idea of replacing a visa program for...
U.S. lawmakers warn that China could use Musk to influence Trump
Elon Musk and U.S. President Donald Trump in the White House's Oval Office.Kevin Lamarque | ReutersThe Republican and Democratic leaders of the U.S. House of Representatives' select committee on China warned on Tuesday that Beijing may try to exert leverage with Elon...
Enable MSMEs to grow in size through right policy, ADB official tells MP govt, ET BFSI
Bhopal, Madhya Pradesh must look to frame policies for MSMEs to enable them to grow into large companies, which can compete globally, a senior official of the Asian Development Bank said on Tuesday. Speaking at the Madhya Pradesh Global Investors Summit (MP GIS) 2025,...
House Republicans advance Trump’s tax cut plan
Speaker of the House Mike Johnson, R-La., conducts a news conference in the Capitol Visitor Center on the potential budget resolution vote and other issues, after a meeting of the House Republican Conference on Tuesday, Feb. 25, 2025.Tom Williams | CQ-Roll Call, Inc....
RBI restores risk weights on bank exposures to NBFCs to pre-November 2023 levels, ET BFSI
The Reserve Bank of India (RBI) on Tuesday rolled back the 25-percentage-point increase in risk weights on bank exposures to Non-Banking Financial Companies (NBFCs), effectively restoring them to levels determined by external credit ratings. This revision, outlined in...
India’s central bank relaxes certain norms for urban co-operative banks, ET BFSI
MUMBAI - India's central bank on Monday revised certain norms for urban co-operative banks (UCBs), with a view of providing them with greater operational flexibility, while meeting regulatory objectives.UCBs are financial institutions operating in urban and semi-urban...
RBI’s $10 billion swap signals shift in liquidity strategy ahead of peak crunch in March, ET BFSI
RBIThe Reserve Bank of India (RBI) is set to conduct a $10 billion three-year dollar/rupee swap auction on February 28, aiming to inject durable liquidity into the banking system struggling with persistent cash deficits.The move reflects a strategic shift in liquidity...
U.S. judge allows Trump’s AP Oval Office ban to stand over use of Gulf of Mexico name
U.S. President Donald Trump speaks to reporters after signing a proclamation renaming the Gulf of Mexico to the Gulf of America, while flying over the gulf aboard Air Force One en route to New Orleans to attend the Super Bowl, February 9, 2025. Kevin Lamarque |...
RBI report, BFSI News, ET BFSI
MUMBAI: Corporate profits grew 15.3% in FY24, despite sluggish sales growth of around 5.5%, on the back of cost rationalisation, an RBI report said. The services sector outperformed manufacturing in both sales and profit growth, reversing the trend from FY23 when...
Trump says tariffs on Canada and Mexico ‘will go forward’
President Donald Trump said Monday that sweeping U.S. tariffs on imports from Canada and Mexico "will go forward" when a monthlong delay on their implementation expires next week."The tariffs are going forward on time, on schedule," Trump said when asked at a White...
RBI increases mortgage, loan ceilings for urban co-operative banks, ET BFSI
Reserve Bank of India (RBI) has increased the loan ceiling for urban co-operative banks (UCBs) to small value customers to 0.40% of their Tier I capital from 0.20% earlier and Rs 3 crore per borrower from Rs 1 crore earlier. These banks have also been allowed to take...
Trump, Emmanuel Macron hold press conference
[The stream is slated to start at 2 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Donald Trump and French President Emmanuel Macron are set to hold a joint press conference at the White House on Monday, as western Europe...
Lawsuit challenges threat to federal workers
CEO of Tesla and SpaceX Elon Musk speaks at the Conservative Political Action Conference (CPAC) at the Gaylord National Resort Hotel And Convention Center on Feb. 20, 2025 in Oxon Hill, Maryland.Andrew Harnik | Getty ImagesA newly amended lawsuit challenges a threat...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Rocky runInvestors hope U.S. stocks will rally after a dismal end to the last trading week. Equities tumbled Thursday and Friday, and the S&P 500 and Nasdaq Composite fell...
Voters flocked to AfD and Die Linke political extremes
Election campaign posters for (from R) the Free Democrats (FDP), the Left Party (Die Linke), The Social Democratic Part (SPD), the Green Party (Die Gruenen), and the Christian Democratic Party (CDU) line a boulevard in Berlin on January 20, 2025.John Macdougall | Afp...
The Trump administration is firing 2,000 USAID workers and putting thousands of others on leave
A flag outside of the U.S. Agency for International Development (USAID) headquarters is seen on February 03, 2025 in Washington, DC.Kevin Dietsch | Getty ImagesThe Trump administration said Sunday that it is eliminating 2,000 positions at the U.S. Agency for...
RBI curbs show effect; personal loan growth moderates in Q3, BFSI News, ET BFSI
Kolkata: Personal loan growth moderated in the quarter to December following regulatory cautioning over possible overheating. The annual growth print for the personal loan segment was recorded at 13.7% at the end of December 2024 from 15.2% at the end of September,...
Some US agencies tell workers not to reply to Musk’s email
WASHINGTON, Feb 23 (Reuters) - Multiple U.S. agencies have told employees not to respond immediately to a demand by President Donald Trump's adviser Elon Musk to list their accomplishments in the past week or be fired, as a chaotic campaign to cull the federal...
RBI proposes ban on foreclosure charges for floating rate loans to individuals, MSEs, ET BFSI
The Reserve Bank of India (RBI) has proposed banning foreclosure and prepayment charges on floating rate loans extended to individuals for non-business purposes and to micro and small enterprises (MSEs). The central bank issued a draft circular on Friday outlining the...
RBI to inject $10 billion via forex swap to curb cash crunch, BFSI News, ET BFSI
India’s central bank plans to inject $10 billion through a foreign exchange swap as it ramps up efforts to tackle a cash crunch in the banking system.The three-year swap auction will be held on Feb. 28, the Reserve Bank of India said in a statement on Friday.The swap...
Trump says Dan Bongino to be FBI deputy director
Dan Bongino in Hollywood, Florida on Nov. 17, 2022.Jason Koerner | Getty Images Entertainment | Getty ImagesPresident Donald Trump said in a post on social media Sunday that Dan Bongino, a conservative talk show host, will be deputy director of the FBI.Bongino will...
German 2025 federal election results
The evening sun shines on the Reichstag building of the German Bundestag with the inscription "Dem Deutschen Volke.Fabian Sommer | Picture Alliance | Getty ImagesBERLIN — The Christian Democratic Union and the allied Christian Social Union secured the largest share of...
Musk orders U.S. federal workers to report on work by Monday or resign
Elon Musk, chief executive officer of Tesla Inc., in the Oval Office of the White House in Washington on Tuesday, Feb. 11, 2025.Aaron Schwartz | Bloomberg | Getty ImagesThe Trump administration sent emails on Saturday evening to U.S. federal government employees...
New FBI Director Kash Patel will also be named acting head of the ATF, official says
Kash Patel, U.S. President Donald Trump's nominee to be director of the FBI, testifies before a Senate Judiciary Committee confirmation hearing on Capitol Hill in Washington, U.S., Jan. 30, 2025.Evelyn Hockstein | ReutersNew FBI Director Kash Patel is expected to be...
What we know about Dan ‘Razin’ Caine, Trump’s pick to be the top U.S. military officer
President Donald Trump's choice to be the top U.S. military officer, retired Air Force Lt. Gen. Dan Caine, endeared himself to the commander in chief through his military call sign, "Razin," during a meeting in Iraq years ago. Officials who have served with Caine...
Trump revels in mass federal firings before adoring conservative crowd
President Donald Trump said Saturday that "nobody has ever seen anything" like his administration's sweeping effort to fire thousands of federal employees and shrink the size of government, congratulating himself for "dominating" Washington and sending bureaucrats...
Germans head to the polls in critical election with far-right gains expected
The German parliament convenes for its last regular session before the general election.Michael Kappeler | Picture Alliance | Getty ImagesGermans headed to the polls on Sunday to vote in the 2025 federal election, which is all but guaranteed to result in a new...
U.S. FDA asks fired scientists to return, including some reviewing Musk’s Neuralink
U.S. Food and Drug Administration employees reviewing Elon Musk's brain implant company Neuralink were fired over the weekend as part of a broader purge of the federal workforce, according to two sources with knowledge of the matter.Sopa Images | Lightrocket | Getty...
Former RBI Guv Shaktikanta Das appointed Principal Secretary-2 to PM Modi, ET BFSI
Shaktikanta DasFormer Governor of Reserve Bank of India, Shaktikanta Das will serve as the Principal Secretary-2 to Prime Minister Narendra Modi with effect from the date he assumes office, as announced by the Appointments Committee of the Cabinet on Saturday. "His...
Hamas frees first of Israeli hostages to be released in latest exchange
KHAN YUNIS, GAZA - FEBRUARY 20: An aerial view of as members of the Al-Qassam Brigades, the military wing of Hamas, take precautions around the cemetery in Bani Suheila municipality before the bodies of the Bibas family (three members) and Oded Lifshitz are handed...
India’s RBI must infuse Rs 1 lakh crore by March-end to ease bank liquidity gap, analysts say, ET BFSI
India's central bank will need to inject at least another Rs 1 lakh crore ($11.54 billion) into the banking system by March-end as durable liquidity remains in a deficit despite a recent cash infusion, market participants said on Friday."The need for durable liquidity...
RBI imposes Rs 46 lakh penalty on three firms for non compliace, ET BFSI
NEW DELHI: The Reserve Bank of India (RBI) has imposed a fine worth Rs 46.7 lakhs on three firms for non compliance with certain provisions of directives issued by the Reserve Bank of India. In three separate press releases issued by the apex bank on 21 February, it...
U.S. judge blocks Trump’s bid to ban DEI by federal agencies, contractors
U.S. President Donald Trump returns to the White House on February 19, 2025 in Washington, DC. Trump returned to the White House after spending the weekend and the first two days of the week in Florida. Win Mcnamee | Getty Images News | Getty ImagesA federal judge in...
Judge declines to immediately dismiss Eric Adams’ corruption case, delays trial
New York City Mayor Eric Adams attends a press conference at the 40th precinct, in the Bronx borough of New York City, New York, U.S., Feb. 20, 2025. Jeenah Moon | ReutersA New York judge on Friday said he would not immediately dismiss Eric Adams' corruption case, but...
5 things to know before the stock market opens Friday
Here are the most important news items that investors need to start their trading day:1. StallmartInvestors hope to end a lackluster week on a high note. Stocks dropped on Thursday, as the S&P 500 dipped 0.4%, the Nasdaq Composite lost 0.5% and the Dow Jones...
RBI Deputy Governor, ET BFSI
Mumbai (Maharashtra) [India] February 21 (ANI): Financial institutions must invest in digital infrastructure and adopt a data-driven, customer-centric approach to remain competitive in the evolving financial landscape, according to Deputy Governor of the Reserve Bank...
RBI to hold variable rate repo auction to infuse Rs 75,000 crore, ET BFSI
Mumbai: The Reserve Bank of India (RBI) Thursday announced a ₹75,000 crore 45-day variable rate repo (VRR) auction, which will be held on Friday. This VRR will be reversed on April 7, just two days before the central bank announces its next monetary policy.This...
Indian banks to face margin squeeze as RBI may go for more rate cuts, ET BFSI
Indian banks are facing renewed pressure on their net interest margins (NIMs) as interest rates are expected to decline following the Reserve Bank of India's (RBI) decision to cut its benchmark rate for the first time in nearly five years.According to S&P Capital...
RBI DG asks entities to guard against reckless financialisation, ET BFSI
Mumbai, Amid concerns emanating from spurt in unsecured lending and an euphoria in derivatives, Reserve Bank Deputy Governor M Rajeshwar Rao on Friday asked financial sector entities to guard against "reckless financialisation". Speaking at an event in stock exchange...
Finmin to meet heads of public sector banks on Mar 4, to review financial performance, ET BFSI
New Delhi, The finance ministry has called a meeting of heads of public sector banks (PSBs) on March 4 to review financial performance of banks and progress of financial inclusion schemes, among others. The meeting is scheduled to be chaired by Financial Services...
New York governor Hochul will not remove mayor
New York City Mayor Eric Adams arrives for a court hearing at Thurgood Marshall Courthouse on February 19, 2025 in New York City. Eduardo Munoz Alvarez | Getty ImagesNew York Governor Kathy Hochul is set to announce Thursday afternoon that she will not remove...
RBI sold a net $35 billion in November and December to curb forex volatility, ET BFSI
Kolkata: The Reserve Bank of India sold foreign currencies worth $35.4 billion on net basis in November and December to prevent excess volatility in rupee movement amid heightened dollar outflows from local equities as foreign investors started seeking safe haven for...
Pentagon orders budget revamp to redirect $50 billion toward Trump’s defense priorities
U.S. Defense Secretary Pete Hegseth prepares to welcome Australian Defence Minister and Deputy Prime Minister Richard Marles at the Pentagon in Washington, U.S., Feb. 7, 2025. Nathan Howard | ReutersThe Pentagon said on Wednesday it was directing the military to draw...
Trump expects visit from Chinese President Xi without giving timeline
Chinese President Xi Jinping and U.S. President Donald Trump.Dan Kitwoodnicholas Kamm | Afp | Getty ImagesU.S. President Donald Trump said on Wednesday he expected Chinese President Xi Jinping to visit the United States without giving a timeline for his...
Palantir plunges after Pentagon budget report, Karp sales plan
Palantir co-founder and CEO Alex Karp attends meetings at the U.S. Capitol in Washington on Oct. 18, 2023.Jonathan Ernst | ReutersThe share price of Palantir fell as much as 12.5% Wednesday after news that CEO Alex Karp had adopted a new stock trading plan, and a...
Despite growth in economic activities Fed minutes signals rate cut on hold, ET BFSI
New Delhi [India], February 20 (ANI): The Federal Open Market Committee (FOMC) remains focused on its dual mandate of maximum employment and stable inflation at 2 per cent, according to the minutes of the latest meeting.The Federal Open Market Committee (FOMC) has...
Who is Friedrich Merz, the favorite to become Germany’s new chancellor?
Friedrich Merz, Union candidate for chancellor and CDU federal chairman, joins the "Quadrell" TV round in the Bundestag election campaign.Michael Kappeler | Picture Alliance | Getty ImagesFriedrich Merz, migration hardliner and longtime rival of Angela Merkel, is...
DOJ dismissal hearing in New York court
NYC Mayor Eric Adams speaks during a press conference with NYPD Commissioner Jessica Tisch at Bellevue Hospital Center on Feb. 18, 2025 in New York City.Michael M. Santiago | Getty ImagesA top Department of Justice official on Wednesday offered a new rationale for the...
Trump Media sues Brazil justice who crossed Elon Musk
FILE PHOTO: Elon Musk listens to U.S. President Donald Trump speak in the Oval Office of the White House in Washington, D.C., U.S., February 11, 2025. REUTERS/Kevin Kevin Lamarque | ReutersTrump Media and its fellow conservative-oriented social media company Rumble on...
Reserve Bank launches RBIDATA App for simplify access to economic data, ET BFSI
Reserve Bank of India launches RBIDATAIn a significant move to elevate financial transparency and accessibility of data, the Reserve Bank of India has launched RBIDATA, a mobile application that offers macroeconomic and financial statistics relating to the Indian...
Trump scores win in suit challenging Elon Musk’s cost-cutting powers
U.S. President Donald Trump looks on as he stands in the Oval Office of the White House, on the day Robert F. Kennedy Jr is sworn in as secretary of Health and Human Services, in Washington, D.C., U.S., February 13, 2025. Nathan Howard | ReutersDonald Trump's...
White House tweets ‘ASMR’ video of immigrants in shackles
A deportation flight.Source: Twitter/X | The White HouseThe White House on Tuesday afternoon posted a video online showing immigrants in shackles being prepared to board a deportation flight from Seattle.The video includes footage of a set of handcuffs and chains...
Senate confirms Howard Lutnick as commerce secretary, a key role for Trump’s trade agenda
U.S. President Donald Trump speaks from the Oval Office of the White House, flanked by U.S. Commerce secretary Howard Lutnick, on the day he signs executive orders for reciprocal tariffs, in Washington, U.S., February 13, 2025. Kevin Lamarque | ReutersThe Senate...
Trump administration to continue Biden merger guidelines
The Trump administration on Tuesday said it will keep using strict guidelines by the administration of former President Joe Biden to review proposed corporate mergers.The decision to retain the regulatory guidelines —which have been widely disliked by corporations...
Judge orders Eric Adams, DOJ lawyers to explain case dismissal request
New York City Mayor Eric Adams speaks with members of the media as he arrives for an Adult Town Hall at Sunnyside Community Services Older Adult Center on Feb. 12, 2025 in the Queens borough of New York City.Michael M. Santiago | Getty ImagesA federal judge ordered...
Liquidity, not rate cuts, should be the priority to spur growth, says Axis Bank’s Neelkanth Mishra, ET BFSI
Neelkanth MishraAmid ongoing discussions on injecting liquidity, Neelkanth Mishra, Chief Economist at Axis Bank said that managing liquidity should be the primary tool for supporting economic growth rather than cutting interest rates. According to Mishra, a 25-basis...
Arunachal cabinet approves schemes for Women, Youth, and State Development, ET BFSI
Kurung Kumey (Arunachal Pradesh) [India], February 18 (ANI): The Arunachal Pradesh government has given a positive nod for revamping the Dulari Kanya Scheme with the fixed deposit for institutional births of girl children was raised from Rs 20,000 to Rs 30,000.The...
Financial services secretary, ET BFSI
In 2020, the limit was raised from ₹100,000 after restrictions were placed on Punjab and Maharashtra Cooperative Bank over financial irregularities.NEW DELHI/MUMBAI: India is actively considering raising the bank deposit insurance coverage, a top official said on...
Finance Minister hands over keys to homebuyers under SWAMIH Fund in Mumbai, ET BFSI
(Special arrangement)Union Finance Minister Nirmala Sitharaman handed over keys to homebuyers from select projects in Mumbai Metropolitan Region (MMR). These houses were long-stressed residential projects have been completed under the “Special Window for Affordable...
Europe clambers to form Ukraine plan as U.S., Russia peace talks ramp up
France's President Emmanuel Macron (C) walks with U.S. President-elect Donald Trump (R) and Ukraine's President Volodymyr Zelenskyy (L) after a meeting at the Elysee Presidential Palace in Paris on Dec. 7, 2024.Julien De Rosa | Afp | Getty ImagesEurope is vying for a...
FM Sitharaman launches Mutual Credit Guarantee Scheme for MSMEs, ET BFSI
Mumbai, The Centre on Monday launched the 'Mutual Credit Guarantee Scheme for MSMEs', which was announced in the Union Budget 2024-25 to boost the micro, small, and medium enterprises.The scheme facilitates collateral-free loans to MSMEs by providing loans up to Rs...
FM Sitharaman dispels gloom over capex cut worries, says no govt programme will suffer, ET BFSI
The govt's efforts at asset building continues, which is why the capex target for this FY is higher by 10.2% than the previous year, Finance Minister Nirmala Sitharaman said at a post-budget interaction with stakeholders from Indian industry.The FM's clarification...
RBI lets funds flow to tackle liquidity deficit, ET BFSI
Mumbai: The Reserve Bank of India has supported liquidity to its full extent through long-term variable rate repo (VRR) auctions, foreign exchange swaps and doubling down on its open market operation (OMO) purchases in its auctions and on screen. Since January 30, the...
How govt can prevent rising cooperative bank failures, ET BFSI
While the government has taken steps such as forming the Ministry of Cooperation in 2021, experts believe that deeper structural reforms are needed to prevent cooperative bank failures. A combination of strict regulatory action, professional management, technological...
Trump wants the Supreme Court to let the firing of whistleblower agency head proceed
A supporter of U.S. President-elect Donald Trump stands outside the U.S. Supreme Court, in Washington, U.S., January 17, 2025. REUTERS/Carlos BarriaCarlos Barria | ReutersThe Trump administration wants the Supreme Court to permit the firing of the head of the federal...
Trump administration cuts reach FDA employees in food safety, medical devices and tobacco products
FILE PHOTO: The headquarters of the U.S. Food and Drug Administration (FDA) is seen in Silver Spring, Maryland November 4, 2009. Jason Reed | ReutersThe Trump administration's effort to slash the size of the federal workforce reached the Food and Drug Administration...
U.S., Ukraine could still secure ‘positive’ minerals deal, officials say
U.S. President Donald Trump speaks, as he signs an executive order in the Oval Office, at the White House in Washington, D.C., U.S. Feb. 14, 2025. Nathan Howard | ReutersU.S. President Donald Trump's hopes of securing access to Ukraine's rare earth minerals hit a wall...
Reuters criticizes Trump’s ban of Associated Press reporters in Oval Office, Air Force One
Associated Press White House reporter Darlene Superville and AP photographer Ben Curtis are told by a U.S. President Donald Trump administration member that they have been denied from joining the White House press pool in West Palm Beach, Florida, U.S., February 15,...
US sent Ukraine minerals deal, offered almost nothing in return
SLOVIANSK, UKRAINE - FEBRUARY 9: In an aerial view, a chalk quarry on Mount Karachun is seen in front of the city on February 9, 2025 in Sloviansk, Ukraine. Due to the strategic importance of the mountain and the telecommunication tower located on it, fighting...
Trump team to start Russia-Ukraine peace talks in Saudi Arabia
Israel's Foreign Minister Gideon Sa'ar welcomes U.S. Secretary of State Marco Rubio as he arrives in Israel, on the first leg of his Middle East trip, in Tel Aviv, Israel, on Feb. 15, 2025.Evelyn Hockstein | ReutersSenior officials from U.S. President Donald Trump's...
Trump tours a Boeing plane to spotlight delay on getting new Air Force One
The motorcade of U.S. President Donald Trump is parked next to a 12-year-old Boeing 747-8 that Trump was touring in West Palm Beach, Florida, on Feb. 15, 2025.Kevin Lamarque | ReutersPresident Donald Trump toured a Boeing plane on Saturday to highlight delays in...
IRS will lay off thousands of probationary workers in the middle of tax season
Nametags with the IRS logo in a conference room at the Internal Revenue Service (IRS) campus in Austin, Texas, US, on Friday, Sept. 6, 2024. Jordan Vonderhaar | Bloomberg | Getty ImagesThe IRS will lay off thousands of probationary workers in the middle of tax season,...
JD Vance Munich Security speech criticizes European democracy
US Vice President JD Vance delivers his speech during the 61st Munich Security Conference (MSC) in Munich, southern Germany on February 14, 2025. Thomas Kienzle | Afp | Getty ImagesEuropean leaders reeled Friday after U.S. Vice President JD Vance lambasted the...
Washington D.C. unemployment spikes as Trump and Musk begin efforts to shrink the government
Elon Musk listens to U.S. President Donald Trump speak in the Oval Office of the White House in Washington, D.C., U.S., Feb. 11, 2025. Kevin Lamarque | ReutersPresident Donald Trump's moves to fire thousands of federal government workers have coincided with a surge in...
Kellogg says Russia-Ukraine peace plan could come in days or weeks
AUVERS-SUR-OISE, FRANCE - 2025/01/11: Lt Gen. Keith Kellogg, former National Security Advisor to U.S. Vice President Mike Pence speaks at the conference and says the regime in Iran is weaker and more vulnerable than it has been in decades. It should not be feared but...
3 Biden clean energy rules top targets for Senate GOP
Republican U.S. Senator John Thune (R-SD), who was elected to become the next Senate Majority Leader, speaks to the media after a U.S. Senate Republicans meeting to vote on leadership positions for the 119th Congress, on Capitol Hill in Washington, U.S., November 13,...
NATO’s Rutte tells Europe to stop complaining, come up with concrete ideas
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Eric Adams denies quid pro quo, urges NYC to put ‘episode behind us’
New York City Mayor Eric Adams leaves the federal court after being charged with bribery and illegally soliciting a campaign contribution from foreign nationals, in New York City, U.S., October 2, 2024. Shannon Stapleton | ReutersNew York City Mayor Eric Adams on...
Zelensky calls for a European army, warns Russia not preparing for dialogue
Volodymyr Zelenskyy, Ukraine's president, during the Munich Security Conference in Munich, Germany, on Friday, Feb. 14, 2025. Bloomberg | Bloomberg | Getty ImagesUkrainian President Volodymyr Zelenskyy called for the creation of a European army to boost the...
RBI walks the talk, unveils more steps to ease liquidity, ET BFSI
Mumbai: The Reserve Bank of India has doubled down on its liquidity infusion measures via the open market operation (OMO) purchase to ₹40,000 crore, and announced a four-day variable rate repo (VRR) auction for another ₹75,000 crore, to be held on February 17.This...
Mizoram CM attends State Credit Seminar organised by NABARD, releases State Focus Paper 2025-26, ET BFSI
Aizawl (Mizoram) [India], February 15 (ANI): NABARD, Mizoram Regional Office on Friday organized the State Credit Seminar in Aizawl and Mizoram Chief Minister Lalduhoma attended the event as Chief Guest and released the State Focus Paper 2025-26. The seminar's Special...
Trump border czar warns Eric Adams on immigration agreement
President Donald Trump's border czar Thomas Homan, left, and New York Mayor Adams, right, and others, meeting in New York, Thursday, Feb. 13, 2025.Ed Reed | Office of the Mayor of New York via APPresident Donald Trump's border czar implicitly warned New York Mayor...
Eric Adams prosecutor quits DOJ over case dismissal order
Danielle Sassoon, assistant US Attorney for the Southern District of New York, left, arrives at court in New York, US, on Thursday, March 28, 2024. Yuki Iwamura | Bloomberg | Getty ImagesA seventh federal prosecutor resigned Friday over the Department of Justice's...
India’s RBI to enhance liquidity next week to cover for tax outflows, ET BFSI
By Dharamraj DhutiaMUMBAI - The Reserve Bank of India will step up its liquidity infusion and inject over $16 billion next week into the banking system, which will see large outflows owing to tax payments.The RBI has doubled the quantum of government securities it...
RBI imposes monetary penalty on Shriram Finance, Ujjivan Small Finance Bank, ET BFSI
The Reserve Bank of India (RBI) on Friday imposed monetary penalties on Shriram Finance and Ujjivan Small Finance Bank, amounting to Rs 5.80 lakh and Rs 6.70 lakh, respectively, for non-compliance with regulatory guidelines.Penalty on Shriram FinanceFollowing a...
U.S. embassies told to prepare for Trump staff cuts, sources say
The entrance of the United States Embassy in Bogota, Colombia on Jan. 26, 2025.Pablo Vera | Afp | Getty ImagesPresident Donald Trump's administration has asked U.S. embassies worldwide to prepare for staff cuts, three sources familiar with the matter told Reuters on...
U.S. and India to boost bilateral trade to $500 billion by 2030
U.S. President Donald Trump and Indian Prime Minister Narendra Modi shake hands, at the White House in Washington, D.C., U.S., Feb. 13, 2025. Kevin Lamarque | ReutersNew Delhi and Washington will work to more than double bilateral trade to $500 billion by 2030, Indian...
Top federal prosecutor quits after DOJ moves to toss NYC Mayor Adams case
New York City Mayor Eric Adams arrives at the federal court after being charged with bribery and illegally soliciting a campaign contribution from a foreign national, in New York City, U.S., October 2, 2024. Caitlin Ochs | ReutersThe top federal prosecutor in...
Trump reciprocal tariffs news conference set for 1 p.m.
U.S. President Donald Trump reads about tariffs on steel and aluminum, as Howard Lutnick stands in the background, in the Oval Office of the White House in Washington, U.S., Feb. 10, 2025. Kevin Lamarque | ReutersPresident Donald Trump set an Oval Office news...
PACS-CSCs disburse ₹12905 crore in loans as part of rural financial inclusion in Andhra Pradesh, ET BFSI
Common Service Centres, a key component of the Digital India initiative launched by the govt of India, aim to provide essential govt and non-govt services to citizens, particularly in rural and remote areas, through digital means.VIJAYAWADA: In a major boost to rural...
NABARD projects ₹4.40 lakh crore priority sector credit for Rajasthan in FY 2025-26, ET BFSI
The Minister of State (Independent Charge) for Cooperatives and Civil Aviation, Gautam Kumar Dak, release the State Focus Paper, in the presence of Manju Rajpal, Principal Secretary, Cooperation, Balraj Singh, VC, SKNAU, Jobner, Tikam Chand Bohra, MD-RAJFED and Dr...
Essential for govt departments to modernise to cater to ever-rising public expectation: President Murmu, ET BFSI
It is essential for government departments to modernise their systems by making the best use of emerging technologies to cater to the ever-rising expectations of the public for efficiency in service delivery, President Droupadi Murmu said on Thursday. Addressing a...
Unions sue Trump, fearing mass firings of federal employees
Local labor organizers celebrate at a United Auto Workers vote watch party on April 19, 2024 in Chattanooga, Tennessee. With over 51% of workers voting yes the UAW won the right to form a union at the plant. Elijah Nouvelage | Getty ImagesFive unions sued...
RBI’s inflation target seems feasible with softened vegetable prices, skewed demand recovery: BoB report, ET BFSI
New Delhi [India], February 13 (ANI): India's inflation outlook appears favourable, with the possibility of aligning with the Reserve Bank of India's (RBI) 4 per cent target in the coming months, highlighted a report by Bank of Baroda. The report noted that a seasonal...
Elon Musk’s X settles Trump lawsuit over deplatforming
Elon Musk listens to U.S. President Donald Trump speak in the Oval Office of the White House in Washington, D.C., U.S., Feb. 11, 2025. Kevin Lamarque | ReutersSocial media company X has agreed to pay about $10 million to settle a lawsuit by President Donald Trump, who...
Trump froze law that hit Tesla suppliers
Elon Musk listens to U.S. President Donald Trump speak in the Oval Office of the White House in Washington, D.C., U.S., Feb. 11, 2025. Kevin Lamarque | ReutersThe anti-bribery law whose enforcement President Donald Trump has suspended was previously used by the...
Trump reciprocal tariffs could come by Thursday, White House says
U.S. President Donald Trump looks on, as he signs executive orders in the Oval Office of the White House in Washington, U.S., Feb. 10, 2025. Kevin Lamarque | ReutersPresident Donald Trump could announce his reciprocal tariff plan before he meets with Indian Prime...
Mitch McConnell warns Trump trade war, tariffs will raise prices
Then President Donald Trump speaks to the media while flanked by Senate Majority Leader Mitch McConnell after arriving at a Senate Republican weekly policy luncheon at the U.S. Capitol March 26, 2019 in Washington, DC. Mark Wilson | Getty ImagesRepublican Sen. Mitch...
White House nominates new chiefs for bank, market regulators: Reuters
The entrance to the Consumer Financial Protection Bureau (CFPB) headquarters is seen during a protest on Feb. 10, 2025 in Washington, DC.Anna Moneymaker | Getty ImagesThe White House plans to nominate Jonathan McKernan, a former member of the Federal Deposit Insurance...
RBI extends UPI credit line facility to Small Finance Banks, BFSI News, ET BFSI
RBI extends the credit line facility on UPI to Small Finance BanksThe Reserve Bank of India (RBI) on Wednesday announced an expansion in the scope of Unified Payments Interface (UPI) by enabling transactions from pre-sanctioned credit lines at banks for Small Finance...
Karnataka governor clears ordinance to curb coercive micro-loan recoveries, ET BFSI
Governor Thaawarchand Gehlot has cleared the Karnataka Micro Loan and Small Loan (Prevention of Coercive Actions) Ordinance, 2025, with his assent. This would now allow the government to notify the ordinance to check unlawful and coercive recovery of loans from...
RBI to issue Rs 50 notes with Guv Sanjay Malhotra’s signature, ET BFSI
The Reserve Bank of India on Wednesday said it will soon issue Rs 50 denomination banknotes bearing the signature of Governor Sanjay Malhotra. Malhotra assumed office in December 2024 replacing Shaktikanta Das who demitted office after completion of his extended term....
Trump renews insistence that the U.S. can control, redevelop Gaza
President Donald Trump hosted Jordan's King Abdullah II at the White House on Tuesday and renewed his insistence that Gaza could be emptied of all residents, controlled by the U.S. and redeveloped as a tourist area — a plan that could likely only work if the Arab...
Simplifying downstream investments, creating level playing field, ET BFSI
The reporting requirements have become more stringent, as entities now must report all prior investments to the RBI, even if the original equity investments were made when the entity was not an FOCC. The Reserve Bank of India (RBI) has recently updated its master...
Businessman Duped of Rs 37.5 Lakh, ET BFSI
A web of deception unraveled when a businessman, desperate for financial aid, fell for the words of fraudsters, who lured him with promises of accessing money stuck in the Reserve Bank of India (RBI). Using forged documents, the scammers, who were known to the victim,...
Musk says DOGE is ‘what democracy is all about’ during Oval Office visit
Elon Musk on Tuesday defended his "Department of Government Efficiency" against critics, saying the unaccountable cost-slashing task force represents the will of American voters who elected President Donald Trump."That's what democracy is all about," said Musk, who...
RBI’s gold buying not to replace $ for settlements, BFSI News, ET BFSI
New Delhi: FM Nirmala Sitharaman on Monday clarified in the Lok Sabha that India's rising gold reserves, including those held by RBI, is not intended to replace any international currency.She responded to Congress MP Manish Tiwari's concerns about whether the global...
East Germany is a far-right stronghold — economics helped make it happen
Alice Weidel, chancellor candidate of the far-right Alternative for Germany (AfD) political party, speaks to supporters as they wave German flags at the AfD election campaign launch rally.Sean Gallup | Getty Images News | Getty ImagesGermany's far-right party is...
RBI’s gold buying not to replace $ for settlements, BFSI News, ET BFSI
Finance Minister Nirmala SitharamanNew Delhi: FM Nirmala Sitharaman on Monday clarified in the Lok Sabha that India's rising gold reserves, including those held by RBI, is not intended to replace any international currency.She responded to Congress MP Manish Tiwari's...
Idea is not to maximise revenue, but to collect which is due to govt: CBIC Chair, ET BFSI
Sanjay Kumar Agarwal, Chairman of the Central Board of Indirect Taxes and Customs (CBIC) The idea is not to maximise the revenue but to collect the revenue which is due to the government, said Sanjay Kumar Agarwal, Chairman of the Central Board of Indirect Taxes and...
White House bars AP from Oval Office
U.S. President Donald Trump speaks to reporters after signing a proclamation renaming the Gulf of Mexico to the Gulf of America, while flying over the gulf aboard Air Force One en route to New Orleans to attend the Super Bowl, February 9, 2025. Kevin Lamarque |...
Trump FBI pick Kash Patel accused of directing staff purge as nominee
Kash Patel, U.S. President Donald Trump's nominee to be director of the FBI, looks on as he testifies before a Senate Judiciary Committee confirmation hearing on Capitol Hill in Washington, U.S., January 30, 2025. Evelyn Hockstein | ReutersPresident Donald Trump's...
Trump says Treasury Secretary Bessent is going to Ukraine as U.S. has ‘little to show’ for aid sent
U.S. Secretary of the Treasury Scott Bessent speaks, at the White House, in Washington, U.S. February 3, 2025. Elizabeth Frantz | ReutersU.S. Treasury Secretary Scott Bessent will head to Ukraine for discussions about the war with Russia, U.S. President Donald Trump...
Former Trump aide Steve Bannon pleads guilty in New York
Steve Bannon, former advisor to U.S. President Donald Trump, arrives for a hearing at Manhattan Criminal Court on February 11, 2025 in New York City. Michael M. Santiago | Getty ImagesSteve Bannon, a former top White House aide to President Donald Trump, pleaded...
Trump poll shows high approval ratings for first weeks
U.S. President Donald Trump salutes before the Super Bowl 59 game between the Philadephia Eagles and the Kansas City Chiefs on Feb. 9, 2025.Evelyn Hockstein | ReutersPresident Donald Trump received one of his highest job approval ratings in his decade long political...
Trump removes director of government ethics office
David Huitema, Director of the Office of Government Ethics, sits down with Reuters for his first interview on the job, at his office in Washington, U.S., Jan. 2, 2025.Evelyn Hockstein | ReutersPresident Donald Trump has removed David Huitema as director of the U.S....
Supreme Court lawyer Tom Goldstein jailed after cryptocurrency claim
Tom Goldstein, a partner at the law firm of Akin Gump Strauss Hauer & Feld LLC, poses for a photo outside the Supreme Court in Washington, D.C., U.S., on Monday, Jan. 11, 2010. Stephen Voss | Bloomberg | Getty ImagesA federal judge on Monday ordered leading...
RBI rate cuts may top 100 bps in FY26 as growth concerns persists, ET BFSI
RBI rate cuts may top 100 bps in FY26 as growth concerns persistsThe Reserve Bank of India (RBI) is expected to further ease monetary policy by cutting the benchmark repo rate by an additional 75-100 basis points (bps) by the end of FY26, following its recent 25 bps...
Trump says Hamas should free all hostages by midday Saturday or ‘let hell break out’
President Donald Trump said on Monday that Hamas should release all hostages held by the militant group in Gaza by midday Saturday or he would propose canceling the Israel-Hamas ceasefire and "let hell break out."Trump cautioned that Israel might want to override him...
How RBI is changing its regulatory approach under Governor Sanjay Malhotra, ET BFSI
How RBI is changing its regulatory approach under Governor Sanjay Malhotra The Reserve Bank of India’s (RBI) latest monetary policy announcements indicate a significant shift in its regulatory approach, focusing on easing liquidity concerns and deferring stringent...
Man pleads guilty in hack of SEC’s X account that claimed approval of bitcoin ETFs
Omar Marques | Lightrocket | Getty ImagesAn Alabama man pleaded guilty on Monday in federal court in connection with the January 2024 hack of the Securities and Exchange Commission's X account, which was used to falsely claim that the SEC had approved exchange-traded...
Trump to pause enforcement of law banning bribery of foreign officials
President Donald Trump speaks to members of the press in the Oval Office of the White House on Jan. 30, 2025.Kent Nishimura for The Washington Post | Getty ImagesPresident Donald Trump is set Monday to sign an executive order directing the Department of Justice to...
Trump, Musk could put U.S. at default risk: former Treasury chiefs
Elon Musk walks on Capitol Hill on the day of a meeting with Senate Republican Leader-elect John Thune (R-SD), in Washington, U.S. December 5, 2024. Benoit Tessier | ReutersFive former Treasury secretaries warned Monday that recent actions at the Treasury Department...
Trump’s federal employee buyout plan could be extended
U.S. President Donald Trump meets with Japan's Prime Minister Shigeru Ishiba (not pictured) at the White House in Washington, U.S., Feb. 7, 2025. Kent Nishimura | ReutersThe federal judge who paused the Trump administration's offer of mass buyouts for government...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. A bumpy rideStock futures climbed Monday as investors digested the latest phase in a brewing global trade war. The three major U.S. averages dipped last week. The S&P 500...
Centre releases Rs 1.11 lakh cr interest-free loan to states in Apr-Jan, ET BFSI
New Delhi, The Centre has released about Rs 1.11 lakh crore loan to states during April-January under the scheme for special assistance to states for capital expenditure, Minister of State for Finance Pankaj Chaudhary said on Monday. In the 2024-25 Budget, Finance...
Govt keeps eye on rate transmission, BFSI News, ET BFSI
New Delhi: The government is closely monitoring lenders to ensure they pass on rate cuts announced by the central bank. A senior government official said they will hold discussions with banks if such transmission is not reflected in the next few weeks."There is no...
Taxonomy for climate finance should be ready in 6 months: DEA secretary, ET BFSI
Economic Affairs Secretary Ajay Seth has said work with respect to developing a taxonomy for climate finance is going on and it should be ready in the next six months or so. "Work is happening, and in fact, the steel ministry has completed their work. They have issued...
Musk calls to impeach judge whose order blocks DOGE from Treasury systems access
Elon Musk has called to impeach a federal judge in New York, Paul Engelmayer, over an order that temporarily restricts the tech centi-billionaire and his DOGE team from accessing U.S. Department of Treasury payment systems and sensitive data.Over the weekend an...
FM Nirmala Sitharaman, ET BFSI
Finance Minister Nirmala Sitharaman on Monday said action will be taken in case there are violations of well laid down processes for auctioning of gold by banks and NBFCs when a borrower fails to pay the gold loan. During Question Hour in Lok Sabha, she said Non...
Credit Guarantee Fund scheme benefitted 6.78 lakh students till 2024: Pradhan, ET BFSI
New Delhi, The Centre has approved Rs 3,019 crore under the Credit Guarantee Fund Scheme benefitting 6.78 lakh students till 2024, Union Education Minister Dharmendra Pradhan said on Monday. Under the scheme, the central government gives guarantee for education loans...
Consumer Financial Protection Bureau staff to work remotely, HQ shuttered
Office of Management and Budget (OMB) Acting Director Russell Vought speaks with reporters during a press briefing at the White House in Washington, U.S., March 11, 2019.Jonathan Ernst | ReutersConsumer Financial Protection Bureau employees were told Sunday to work...
Bank of Baroda, ET BFSI
New Delhi: The Reserve Bank of India (RBI) may cut interest rates further by 50 basis points (bps) in 2025 and shift its stance from "neutral" to "accommodative," according to a report by Bank of Baroda.The report suggested that the central bank has entered a rate-cut...
Trump to announce 25% steel and aluminum tariffs in latest trade escalation
Canadian, Mexican and Chinese flags.Nurphoto | Nurphoto | Getty ImagesU.S. President Donald Trump said on Sunday he will introduce new 25% tariffs on all steel and aluminum imports into the U.S., on top of existing metals duties, in another major escalation of his...
More RBI rate cuts on the cards, stance likely to change from neutral to accommodative, ET BFSI
Although RBI's new Governor delivered 25 bbps rate cut on Friday, marking the first rate reduction in five years, the market was slightly disappointed.As the RBI embarks upon the rate cut cycle, it can be expected that more cuts are also on the cards, while the timing...
Egypt announces emergency Arab summit after Trump’s Gaza plan infuriates key allies
U.S. President Donald Trump and Israeli Prime Minister Benjamin Netanyahu hold a joint press conference in the East Room at the White House in Washington, U.S., Feb. 4, 2025.Leah Millis | ReutersEgypt announced Sunday that it will host an emergency Arab summit on Feb....
Trump’s acting Consumer Financial Protection Bureau chief halts all supervision of companies
Russell Vought, President-elect Donald Trump's pick to be director of the Office of Management and Budget, arrives for a meeting at the office of Sen. Chuck Grassley, R-Iowa, in Hart building on Monday, December 16, 2024. Tom Williams | Cq-roll Call, Inc. | Getty...
Trump says he’s firing Kennedy Center board of trustees members and naming himself chairman
President Donald Trump says he is firing members of the board of trustees for the John F. Kennedy Center for the Performing Arts and naming himself chairman.He also indicated that he would be dictating programming at one of the nation's premier cultural institutions,...
Trump and Japanese prime minister hold press conference
[The stream is slated to start at 2:00 p.m. ET. Please refresh the page if you do not see a player above at that time.]U.S. President Donald Trump and Japanese Prime Minister Shigeru Ishiba are set to hold a joint press conference at the White House on Friday.The...
Trump’s USAID staff plan paused by federal judge
A worker removes the U.S. Agency for International Development sign on their headquarters on Feb. 7, 2025 in Washington, DC.Kayla Bartkowski | Getty ImagesA federal judge on Friday said he would temporarily pause the Trump administration's plan to place thousands of...
U.S. states sue to block Musk’s DOGE from accessing payment systems
Elon Musk checks his phone on the day of the Presidential Inauguration of U.S. President Donald Trump at the Rotunda of the U.S. Capitol in Washington, U.S., Jan. 20, 2025. Kevin Lamarque | ReutersA coalition of mostly Democratic-led U.S. states filed a lawsuit on...
Ukraine’s Zelenskyy offers Trump mineral partnership, seeking security
Ukraine's President Volodymyr Zelenskyy speaks during an interview with Reuters, amid Russia's attack on Ukraine, in Kyiv, Ukraine Feb. 7, 2025.Valentyn Ogirenko | ReutersUkrainian President Volodymyr Zelenskyy pored over a once-classified map of vast deposits of rare...
Hamas hands over three Israeli hostages to Red Cross in central Gaza
Members of Hamas' Al-Qassam Brigades gather in the square to release Israeli hostages as part of a hostage swap deal between Hamas and Israel, in Deir al Balah, Gaza, on February 8, 2025. Anadolu | Anadolu | Getty ImagesPalestinian militant group Hamas handed over...
U.S. judge declines to block Elon Musk’s DOGE from Labor Department systems
Tesla and SpaceX CEO Elon Musk arrives to the inauguration of U.S. President-elect Donald Trump in the Rotunda of the U.S. Capitol on Jan. 20, 2025 in Washington, DC. Chip Somodevilla | Via ReutersA federal judge on Friday declined to block Elon Musk's government...
What are the new bank cybersecurity measures announced by RBI Governor Sanjay Malhotra?, ET BFSI
RBI Governor Sanjay Malhotra has announced a series of measures aimed at strengthening security in the banking and payments ecosystem. From introducing stricter authentication for international online transactions to launching exclusive internet domains for banks and...
Trump ends Biden’s security clearances, intelligence briefings
US President Joe Biden, left, and President-elect Donald Trump during a welcome ceremony at the North Portico of the White House ahead of the 60th presidential inauguration in Washington, DC, US, on Monday, Jan. 20, 2025. Jim Lo Scalzo | Bloomberg | Getty ImagesU.S....
Monetary policy has imprint of a tech-savy bureaucrat, next rate cut in April, ET BFSI
The Reserve Bank of India's repo rate cut under its new leadership—its first reduction in two years—signals a renewed focus on balancing growth, inflation, and risk while optimising economic benefits, according to SBI Ecowrap."Today's monetary policy has the imprint...
RBI banning bank business last resort but in public interest says new governor, ET BFSI
Barring regulated entities from doing business due to irregularities is in the interest of the public. This policy of the central bank will continue but will only be used as a measure of last resort, governor Sanjay Malhotra said.He said that there are about two banks...
Staffer with Elon Musk’s DOGE amplified white supremacists online
One of the people working with billionaire Elon Musk in his efforts to overhaul the U.S. government is a Berkeley-educated computer scientist who has boosted white supremacists and misogynists online.Gavin Kliger lists his job on LinkedIn as "Special Advisor to the...
White House blames Biden for jobs data, touts Trump plan
President Donald Trump's new Press Secretary Karoline Leavitt is interviewed by FOX News on her first full day of work at the White House on January 21, 2025 in Washington, DC. Tuesday marks the first full day of Trump's second term in the White House. Chip...
DOGE chief Elon Musk polls X users over staffer’s racist tweets
Tesla and SpaceX CEO Elon Musk takes his seat at the inauguration ceremony before Donald Trump is sworn in as the 47th U.S. President in the U.S. Capitol Rotunda in Washington, D.C., on Jan. 20, 2025.Saul Loeb | AFP | Getty ImagesBillionaire tech mogul Elon Musk on...
Elon Musk U.S. airspace reform plan spurs conflict-of-interest fears
Elon Musk walks on Capitol Hill on the day of a meeting with Senate Republican Leader-elect John Thune (R-SD), in Washington, U.S. December 5, 2024. Benoit Tessier | ReutersElon Musk's involvement in the Trump administration's airspace reform plan has quickly spurred...
Governor Sanjay Malhotra announces rate cut by 25 bps to 6.25%, ET BFSI
RBI Governor Sanjay Malhotra delivers the Monetary Policy statement. (RBI Youtube via PTI Photo) Reserve Bank of India (RBI) Governor Sanjay Malhotra on Friday announced that the Monetary Policy Committee (MPC) has decided unanimously to reduce the policy rate by 25...
Trump administration demands lists of low-performing federal workers
U.S. President Donald Trump during the annual National Prayer Breakfast at the U.S. Capitol in Washington on Feb. 6, 2025.Kevin Lamarque | ReutersThe Trump administration on Thursday ordered all federal departments and agencies by March 7 to submit lists of employees...
Exclusive ‘bank.in’ Internet Domain to curb financial frauds; enforceable from April, ET BFSI
(Representational image: iStock)Coming as a big step towards curbing the bank frauds, the Reserve Bank of India (RBI) Governor Sanjay Malhotra on Friday announced introducing the 'bank.in' exclusive Internet Domain for Indian banks.This initiative aims to reduce cyber...
Musk DOGE staffer resigns over racist social media posts
Elon Musk, CEO of Tesla, speaks with CNBC on May 16, 2023.David A. Grogan | CNBCA staff member on the Department of Government Efficiency advisory group led by tech billionaire Elon Musk resigned Thursday after The Wall Street Journal asked the White House about his...
Rate Cut, Market Reforms & Digital Security, ET BFSI
RBI Governor Sanjay Malhotra delivers the Monetary Policy statementThe Reserve Bank of India on Friday announced the outcomes of the Monetary Policy Committee (MPC) meeting held on February 5-6, reducing the repo rate by 25 basis points to 6.25 per cent led by a...
RBI sees inflation falling to 4% in Q2 of next fiscal, BFSI News, ET BFSI
The Reserve Bank sees inflation moderating in the next fiscal and gradually aligning with the target of 4 percent on the back of substantial softening of food prices."CPI inflation for 2024-25 is projected at 4.8 per cent with Q4 at 4.4 per cent. Assuming a normal...
Senate confirms Trump budget director pick Vought
Russell Vought, director of the Office of Management and Budget (OMB) nominee for US President Donald Trump, during a Senate Budget Committee confirmation hearing in Washington, DC, US, on Wednesday, Jan. 22, 2025. Al Drago | Bloomberg | Getty ImagesThe Republican-led...
RBI’s understanding of crypto will not change, uneffaced by any country’s stance: DG Sankar, ET BFSI
RBI’s understanding of crypto will not change, uneffaced by any country’s stance: DG Sankar During the press conference held with the key decision makers of RBI, after the announcements made during the Monetary Policy Committee's speech, Deputy Governor, T Rabi Sankar...
As Baltic states break from Russian grid, they brace for retaliation
Heavy snow in Tallinn, EstoniaKarl Hendon | Moment | Getty ImagesThe Baltic countries of Lithuania, Latvia, and Estonia are bracing themselves for possible sabotage and cyberattacks this weekend as they complete their long-awaited decoupling from Russia's power...
RBI sees GDP growth hitting 7% in Q2 of FY26 on strong agri, manufacturing push, ET BFSI
The Reserve Bank of India sees the country's GDP growth at 6.7 per cent in FY26 on the expectations of agricultural activity remaining upbeat and manufacturing recovering gradually in the second half of this year."Agricultural activity remains upbeat on the back of...
RBI sets up working group to review trading and settlement timings, ET BFSI
The Reserve Bank of India (RBI) on Friday announced the setting up of a working group to conduct a comprehensive review of trading and settlement timings across markets regulated by the central bank.The step aims to assess market efficiency, identify operational...
Trump administration sued by government workers over cuts to USAID
The flag of the United States Agency for International Development (USAID) outside its headquarters in Washington, D.C., on Feb. 5, 2025.Mandel Ngan | AFP | Getty ImagesThe largest U.S. government workers' union and an association of foreign...
Trump federal employee buyout deadline faces court challenge
Trump supporters walk near the U.S. Capitol building as the sun sets the day U.S. President Elect Donald Trump was declared the winner of the presidential election in Washington, U.S., November 6, 2024. Leah Millis | ReutersA lawsuit challenging the Trump...
Revenue Secretary hints at a rate cut, says ‘Don’t want to create problem for RBI’, ET BFSI
Revenue Secretary, Tuhin Kanta PandeyThe Reserve Bank of India (RBI) Monetary Policy Committee (MPC) is set to announce the policy decision on Friday. This will be unique in its kind as it will be first under the new Governor Sanjay Malhotra as well as the three...
Revenue Secretary, Tuhin Kanta Pandey, ET BFSI
Revenue Secretay, Tuhin Kanta PandeyRevenue Secretary, Tuhin Kanta Pandey ahead of the upcoming Income Tax Bill, which was announced by the Finance Minister, Nirmala Sitharaman during her budget speech, said the Bill will not introduce any new taxes. “When you will...
Republicans divided on how to pay for Trump’s tax cuts
U.S. House Speaker Mike Johnson (R-LA) reacts following the passage of a spending legislation to avert a government shutdown, on Capitol Hill in Washington, U.S., December 20, 2024. Nathan Howard | ReutersPresident Donald Trump's agenda is hitting speed bumps on...
Why Trump loves them, and how they work
A drone view shows shipping containers from China, at the China Shipping (North America) Holding Company Ltd. facility at the Port of Los Angeles in Wilmington, California, Feb. 4, 2025. Mike Blake | ReutersPresident Donald Trump has long been a fan of tariffs, and in...
Rupee closes in on 88/$-level ahead of RBI’s rate-cut decision, ET BFSI
Rupee flat on RBI support amid pressure from dollarThe Indian rupee plunged to a new all-time low and moved closer to the 88 per dollar mark as the Reserve Bank of India's Monetary Policy Committee began its meeting on Wednesday. The currency opened at 87.13 per...
Govt rethinking disinvestment plan? Finance Minister Nirmala Sitharaman sets the record straight, ET BFSI
After presenting the Union Budget on February 1, Finance Minister Nirmala Sitharaman has revealed where the government's priorities lies when it comes to disinvestment and privatisation plans. "On disinvestment and privatisation, which was very specifically undertaken...
More accommodative stance for NBFCs, banks needed in RBI monetary policy: HSBC, ET BFSI
New Delhi [India], February 6 (ANI): Upcoming monetary policy announcement by the Reserve Bank of India (RBI) is expected to provide clarity on crucial aspects that will shape the financial services sector, according to a report by HSBC. The report stated that a more...
Bank of Baroda, ET BFSI
RBI may cut Repo Rate by 25 bps on February 7: Bank of BarodaNew Delhi [India], February 6 (ANI): The Reserve Bank of India (RBI) is expected to reduce the repo rate by 25 basis points (bps) in its upcoming monetary policy announcement on February 7, according to a...
Trump sued over purge at NLRB
U.S. President Donald Trump looks on as he signs an executive order in the Oval Office at the White House in Washington, U.S., Jan. 31, 2025. Carlos Barria | ReutersThe former chair of the National Labor Relations Board in a new lawsuit Wednesday accused President...
Argentina to withdraw from WHO after Trump exit
Argentina's President Javier Milei addresses the audience during the World Economic Forum (WEF) annual meeting in Davos on January 23, 2025. Milei said at a Bloomberg event on January 22, 2026 that "The world should celebrate the arrival of President Trump,"before...
Watch Trump’s Gaza takeover remarks
President Donald Trump and Israeli Prime Minister Benjamin Netanyahu held a joint press conference at the White House Tuesday, as a fragile ceasefire in Gaza continued to hold.There, Trump shocked the world by announcing that he wants the United States to "take over"...
Senate confirms Trump’s nominee Pam Bondi as attorney general
Pam Bondi, U.S. President-elect Donald Trump's nominee to be attorney general, testifies at a Senate Judiciary Committee confirmation hearing on Capitol Hill in Washington, U.S., January 15, 2025. Elizabeth Frantz | ReutersThe Republican-led U.S. Senate...
Trump’s Gaza takeover plan does not include Palestinian residents
President Donald Trump on Tuesday evening said the United States "will take over the Gaza Strip," and "we'll own it."Trump said that all Palestinians currently living in Gaza — around 2 million people — should leave and be placed in other countries in the Middle East,...
Govt market borrowings for FY26 are well placed, but alternative funding options should be explored: SBI Report, ET BFSI
New Delhi [India], February 5 (ANI): The government's market borrowing plans for the financial year 2025-26 (FY26) appear well-placed to support fiscal policy while complementing monetary policy, according to a report by the State Bank of India (SBI).For FY26, the...
India’s cash deficit eases after RBI opens fund tap, ET BFSI
Reserve Bank of India (RBI)The cash crunch plaguing India’s banking system has more than halved after the central bank took aggressive liquidity injection measures amid faltering economic growth.Deficit liquidity, or the amount that lenders borrow from the Reserve...
Trump’s trade war could have a clear winner: The UK
General view of the City of London skyline, the capital's financial district, in October.Sopa Images | Lightrocket | Getty ImagesGlobal markets were hit with fresh volatility this week after U.S. President Donald Trump confirmed plans to impose tariffs on imports from...
Trump administration sued over Jan. 6 and health data
The Trump administration was sued Tuesday in separate civil complaints challenging a request for information about FBI employees who worked on cases involving President Donald Trump and the Jan. 6 Capitol riot, and the removal of data from federal health agency...
Multiple people killed in attack at Swedish school for adults
Members of the emergengy services work at the scene of the Risbergska School in Orebro, Sweden, on Feb. 4, 2025, following reports of a serious violent crime.Jonathan Nackstrand | AFP | Getty ImagesAround 10 people have been killed in a shooting at an adult education...
RBI seen cutting rates for first time since May 2020, ET BFSI
Reserve Bank of IndiaThe Reserve Bank of India (RBI) is widely expected to cut interest rates for the first time in nearly five years in Governor Sanjay Malhotra's first monetary policy review on Friday, aiming to boost economic growth which is seen falling to a...
RBI’s dividend likely to hit Rs 1.5-2 lakh crore amid sluggish disinvestment in FY25, ET BFSI
The Reserve Bank of India (RBI) is expected to deliver a significant dividend payout to the government for the fiscal year ending March 2025, with estimates pegging the surplus transfer at Rs 1.5-2 trillion. This anticipated payout comes as disinvestment proceeds have...
Will RBI MPC vouch for a rate cut? What is new at this meet?, ET BFSI
Reserve Bank of India Governor Sanjay Malhotra The Reserve Bank of India (RBI) is set to begin its bi-monthly Monetary Policy Committee (MPC) meeting on Wednesday. This will be the first meet for the newly appointed Governor Sanjay Malhotra, and the three new members...
FM Sitharaman to hold post-budget meeting with RBI top brass on Feb 8, ET BFSI
New Delhi, Finance Minister Nirmala Sitharaman is scheduled to address the Reserve Bank of India's central board on February 8 in a post-budget meeting to coordinate the fiscal and monetary steps required to accelerate GDP growth.The customary meeting will take place...
Non-inflationary budget to aid RBI in monetary easing: Finance Secy, ET BFSI
Govt plans to use borrowings for capex, it is non-inflationary, says Finance SecretaryNew Delhi, The government has taken measures to lower fiscal deficit and delivered a non-inflationary Budget, and the Monetary Policy Committee of the Reserve Bank has to now decide...
Budget 2025 laid out fundamental platform for India to grow, says Indranil Pan of YES Bank, ET BFSI
Union Minister of Finance & Corporate Affairs Nirmala SitharamanThe Union Minister of Finance & Corporate Affairs' eighth budget speech laid out ‘reform’ as a fuel; ‘inclusivity’ as a guiding spirit to materialise the goal of ‘Viksit Bharat by 2047’, which is...
FEMA rules to be eased further, says DEA Secretary, ET BFSI
New Delhi: The finance ministry and the Reserve Bank of India (RBI) are in talks to further ease foreign exchange rules, especially with regard to non-debt instruments, economic affairs secretary Ajay Seth told ET. He said the exercise focused on simplifying Foreign...
Trump pauses tariffs on Canada, Mexico
Canadian Prime Minister Justin Trudeau looks on during a press conference while responding to U.S. President Donald Trump's orders to impose 25% tariffs on Canadian imports, in Ottawa, Ontario, Canada, on Feb. 1, 2025.Patrick Doyle | ReutersPresident Donald Trump on...
FM says no targets for rupee value, it is market-determined, BFSI News, ET BFSI
The value of Indian rupee is market-determined, and there has been no devaluation, which is a feature of a fixed exchange rate regime, Finance Minister Nirmala Sitharaman said on Monday. The rupee has been falling in recent weeks, and on Monday touched an all-time low...
India’s Modi invited to meet with Trump next week, White House official says
Narendra Modi, India's prime minister, left, and U.S President Donald Trump, arrive for a news conference at Hyderabad House in New Delhi, India, on Tuesday, Feb. 25, 2020.T. Narayan | Bloomberg | Getty ImagesU.S. President Donald Trump has invited Indian Prime...
RBI should revisit its liquidity policy, rethink using CRR as a regulatory intervention tool: SBI Report, ET BFSI
NEW DELHI: The Reserve Bank of India (RBI) might start using the cash reserve ratio (CRR) as a tool for regulatory intervention rather than for liquidity management, a report by the State Bank of India revealed.The report stressed on the need for the apex bank to...
Trump tariffs on Mexico paused one month, Claudia Sheinbaum says
Mexico's President Claudia Sheinbaum gestures as she speaks about U.S. President Donald Trump's policies during a press conference at the National Palace, in Mexico City, Mexico January 21, 2025. REUTERS/Henry RomeroHenry Romero | ReutersMexico President Claudia...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Trade tailspin2. Tariff tremorU.S. President Donald Trump speaks with members of the media as he departs the White House, in Washington, U.S., Jan. 31, 2025. Carlos Barria |...
Insights from Leaders at Bajaj Allianz, Yes Bank, CRISIL, Shriram Finance, and Suzuki Motorcycle, ET BFSI
The Union Minister of Finance & Corporate Affairs presented the Union Budget 2025 on Saturday, emphasising support for farmers, the poor, youth, and women, while highlighting agriculture, investment, MSMEs, and exports as growth engines of economy.Finance Minister...
RBI expected to cut interest rates for first time in nearly five years, ET BFSI
The Reserve Bank of India (RBI) is expected to cut interest rates for the first time in nearly five years this Friday on waning concerns about stubborn inflation, economists and investors polled by ET said, as Mint Road's priority changes to helping a visibly slowing...
Govt plans alternative financing plans for MSME exporters, ET BFSI
The government plans to provide alternative financing models including export factoring services under the budget's proposed Export Promotion Mission as it seeks to ensure collateral-free, pre-shipment loans to micro, small, and medium enterprise (MSME) exporters. "We...
EU leaders meet to talk defense but Trump and his tariffs loom large
EU flags flutter in front of European Central Bank (ECB) headquarters in Frankfurt, Germany July 18, 2024. Jana Rodenbusch | ReutersEuropean leaders are gathering Monday to discuss how to finance huge investments in defense — but the latest moves by U.S. President...
Not concerned about rupee value, RBI managing volatility: Finance Secretary, ET BFSI
Amid rupee falling to a record low level of 87.29 to a dollar, Finance Secretary Tuhin Kanta Pandey on Monday said there is no concern over rupee value and the Reserve Bank of India is managing the volatility of the local currency. "There is no concern about the value...
MUDRA loan expansion in Budget for homestays create Rs 1,500 cr opportunity for small businesses: SBI, ET BFSI
New Delhi [India], February 3 (ANI): The expansion of MUDRA loans for homestays has opened a significant opportunity for small businesses in the tourism sector, with potential loans amounting to Rs 1,500 crore under the Shishu category, according to a recent report by...
Rubio tells Panama to end China’s influence of canal or face U.S. action
TOPSHOT - U.S. Secretary of State Marco Rubio (L) shakes hands with Panama Canal Authority Administrator Ricaurte Vasquez during a tour at the Miraflores locks of the Panama Canal in Panama City on February 2, 2025. Mark Schiefelbein | Afp | Getty ImagesU.S. Secretary...
Ontario to remove U.S. alcohol from shelves after Trump’s tariffs announcement
Ontario Premier Doug Ford speaks during a campaign stop at Walker Construction in Niagara Falls, Ontario, Canada, January 31, 2025. Carlos Osorio | ReutersOntario will pull all American alcohol from its government-run liquor shelves beginning Tuesday in response to...
SEC’s Republican-led commission tightens oversight of probes, sources say
The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S.Andrew Kelly | ReutersLawyers at the U.S. Securities Exchange Commission (SEC) have been told they need to seek permission from the politically...
Trump tariffs on Canada, Mexico and China begin Saturday, White House says
U.S. President Donald Trump signs executive orders in the Oval Office at the White House in Washington, U.S., Jan. 30, 2025.Elizabeth Frantz | ReutersIn an apparent ending to weeks of intense speculation, the White House confirmed Friday that President Donald Trump...
Canada, Mexico and China respond to Trump’s tariffs
Canadian, Mexican and Chinese flags.Nurphoto | Nurphoto | Getty ImagesU.S. President Donald Trump on Saturday imposed long-threatened tariffs on imports from Canada, Mexico and China — and it didn't take long for the countries to respond.Trump signed an order slapping...
Trump fires the director of the Consumer Financial Protection Bureau
President Donald Trump has fired the director of the Consumer Financial Protection Bureau, Rohit Chopra, in the latest purge of a Biden administration holdover.Chopra was one of the more important regulators from the previous Democratic administration who was still on...
Trump tariffs on Mexico, Canada, China imposed
U.S. President Donald Trump looks on as he signs an executive order in the Oval Office at the White House in Washington, U.S., Jan. 31, 2025. Carlos Barria | ReutersU.S. President Donald Trump is pushing ahead with long-threatened import tariffs on goods from Canada,...
China denounces Trump tariff: ‘Fentanyl is America’s problem’
The U.S. and China flags stand behind a microphone at the U.S. Embassy in Beijing on April 9, 2009.Frederic J. Brown | AFP | Getty ImagesChina's government on Sunday denounced the Trump administration's imposition of a long-threatened 10% tariff on Chinese imports...
Govt keeps borrowings low, raises RBI rate cut chances this month, ET BFSI
Reserve Bank of IndiaThe Union Budget has kept government borrowing largely in line with expectations, providing bond traders with little cause for concern. Gross market borrowing for FY26 is set at Rs 14.62 lakh crore, slightly higher than Rs 14.01 lakh crore in...
Industry and corporate leaders react to Trump duties on Mexico, Canada and China
Aerial view of trucks queueing next to the border wall before crossing to the United States at Otay commercial port in Tijuana, Baja California state, Mexico, on Jan. 22, 2025. Guillermo Arias | AFP | Getty ImagesIndustry and corporate leaders are weighing in after...
While the middle class won, India Inc lost; check complete list, ET BFSI
India’s Budget for 2025 had a few winners and losers. The biggest of them all has to be India's salaried class. The budget is key to challenge consumption woes of India's 400 million urban population, as rising inflation continues to squeeze household incomes. The...
Industry leaders to discuss key takeaways, BFSI News, ET BFSI
Leading financial analysts and economic analysis firms such as Moody's, SBI, and Fitch have projected lower growth for India, even the Economic Survey released on Friday estimates India's growth between 6.3% and 6.8%. Amidst this what is it that Finance Minister...
Credit growth moderates in personal loan segment in December: RBI data, ET BFSI
Bank credit to personal loan segment moderated to 14.9 per cent year-on-year in December, largely due to decline in growth in 'other personal loans', 'vehicle loans' and 'credit card outstanding', according to Reserve Bank data released on Friday. The RBI has released...
ICAI expects rationalisation of taxation for startups, ET BFSI
The Institute of Chartered Accountants of India (ICAI) on Thursday said it hopes the Union Budget will have measures to rationalise taxation for startups as well as simplify compliance requirements for professionals. The Budget for 2025-26 will be presented by Finance...
Major announcements and all you need to know, ET BFSI
Union Finance Minister Nirmala Sitharaman Union Budget 2025 LIVE Updates: Union Finance Minister Nirmala Sitharaman on Saturday presented her 8th Budget. This was the historical highest number of back-to-back budget presentations by any finance minister in India’s...
Musk aides lock U.S. government workers out of computer systems
Elon Musk arrives for the inauguration of U.S. President-elect Donald Trump in the U.S. Capitol Rotunda on Jan. 20, 2025 in Washington, DC.Kenny Holston | Getty ImagesAides to Elon Musk charged with running the U.S. government human resources agency have locked career...
Live Updates from the Finance Minister, BFSI News, ET BFSI
Nirmala SitharamanUnion Finance Minister Nirmala Sitharaman will be tabling the Union Budget 2025 today in Lok Sabha at 11 AM, Sitharaman including Minister of India for Defence Rajnath Singh has arrived at the Parliament.Cabinet Ministers have left the premises of...
What are the changes to your personal taxation in Budget 2025-26?, ET BFSI
In a bid to simplify taxation and provide relief to various segments of taxpayers, Finance Minister Nirmala Sitharaman unveiled several key changes in the Union Budget for 2025-26. Among the most notable adjustments are revisions to the Tax Deduction at Source (TDS)...
Finance Minister announces roll-out of revamped Central KYC this year, ET BFSI
Union Finance Minister Nirmala Sitharaman announced the roll out revamped Central KYC (Know Your Customer) in 2025 while giving her Union Budget 2025 speech on Saturday.To implement the earlier announcement on simplifying the KYC process, the revamped Central KYC...
FM sticks to fiscal prudence, Sets FY26 deficit target at 4.4%, ET BFSI
The central government has maintained its fiscal consolidation roadmap in the Union Budget 2025, setting the fiscal deficit target for 2025-26 at 4.4% of GDP. This aligns with the government’s commitment to bringing the deficit below 4.5% by FY26, as outlined under...
Govt tightens crypto reporting norms, new compliance rules from April 2026, ET BFSI
The government has introduced stricter compliance requirements for crypto transactions by proposing Section 285BAA in the Income-tax Act, making it mandatory for specified entities to furnish transaction details. The changes, announced as part of the Finance Act 2022,...
Second federal judge blocks Trump funding freeze
A person uses a mobile phone with the U.S. Capitol building in the background, on Capitol Hill in Washington, U.S., November 13, 2024. Nathan Howard | ReutersA federal judge on Friday temporarily blocked President Donald Trump's administration from freezing federal...
Top announcements by FM Sitharaman for the Finance Sector, ET BFSI
100% FDI in Insurance, boost to Infrastructure Financing by NaBFID, Credit Boost to MSMEs and moreFinance Minister Nirmala Sitharaman tabled the Union Budget 2025 in Parliament today, Sitharaman said that the engines of development are Agriculture, MSMEs, Investment,...
Musk aides lock government workers out of computer systems at U.S. agency: Reuters
Elon Musk arrives for the inauguration of U.S. President-elect Donald Trump in the U.S. Capitol Rotunda on Jan. 20, 2025 in Washington, DC.Kenny Holston | Getty ImagesAides to Elon Musk charged with running the U.S. government human resources agency have locked career...
No tax for up to Rs 12.75 lakh income for salaried under new tax regime as Section 87A tax rebate hiked in Budget 2025, ET BFSI
The finance minister has announced a hike in tax rebate under Section 87A. Due to this hike, resident individuals having net taxable income up to Rs 12 lakh will pay zero tax. Salaried individuals having standard deduction benefit of Rs 75,000 under the new tax regime...
Tax holiday for startups extended by five years until 2030, ET BFSI
The government has extended the tax holiday for eligible startups by five years, allowing new businesses incorporated until April 1, 2030, to avail of tax deductions under Section 80-IAC of the Income-tax Act. This amendment, which takes effect from April 1, 2025,...
Federal Reserve advisor spied for China, DOJ says
A former senior advisor for the Federal Reserve was arrested Friday on charges that he conspired to steal Fed trade secrets for the benefit of China.The data that the advisor John Harold Rogers allegedly shared with his co-conspirators could allow China to manipulate...
Trump Media gifts DJT shares to FBI pick Kash Patel
Kash Patel, U.S. President Donald Trump's nominee to be director of the FBI, looks on as he testifies before a Senate Judiciary Committee confirmation hearing on Capitol Hill in Washington, U.S., January 30, 2025. Evelyn Hockstein | ReutersTrump Media this week gifted...
Economic Survey signals domestic push, Budget ‘25 likely on 10% nominal GDP, say Economists, ET BFSI
Economists react to Economic Survey 2024-25Finance Minister Nirmala Sitharaman tabled the Economic Survey 2024-25 in Parliament on Friday, drafted under the guidance of Chief Economic Adviser Anantha V Nageswaran. The survey projects India’s real GDP growth at 6.4 per...
Is RBI easing by stealth via Rs 60,000 crore OMOs?, ET BFSI
The Reserve Bank of India (RBI) is actively implementing measures to address the liquidity deficit in the banking system, raising questions about whether these actions signal a gradual shift toward easing its monetary stance.The RBI’s actions come at a time when...
Eco Survey warns of prolonged correction in Indian stock market in 2025, ET BFSI
Elevated valuations and optimistic market sentiments in the US raise the likelihood of a meaningful market correction in 2025, according to the Economic Survey 2025."Should such a correction occur, it could have a cascading effect on India, especially given the...
India needs 8% growth rate for at least a decade to become Viksit Bharat: Eco Survey, ET BFSI
Achieving Viksit Bharat@2047 vision would entail sustained economic growth of close to 8 per cent every year for at least a decade, Economic Survey 2025 has said."To achieve this growth, the investment rate must rise to approximately 35 per cent of GDP, up from the...
RBI tightens rules for payment system offences, raises penalty limit to Rs 10 Lakh, ET BFSI
Reserve Bank of IndiaThe Reserve Bank of India (RBI) has introduced a revised framework for imposing monetary penalties and compounding offences under the Payment and Settlement Systems Act, 2007 (PSS Act), effective immediately. The revised guidelines outline...
Major announcements and all you need to know, ET BFSI
President Droupadi Murmu kicked off the first day of the Budget session in the Parliament on Friday. During her address, the President hailed the growing Indian economy and government’s progress in passing reforms. President Murmu further said, “Our aim is to make...
Trump says 25% tariffs on Mexico and Canada may not include oil
President Donald Trump speaks to members of the press in the Oval Office of the White House on Jan. 30, 2025.Kent Nishimura for The Washington Post | Getty ImagesDonald Trump has confirmed he will impose 25% tariffs on imports from Mexico and Canada from February,...
President Droupadi Murmu to Parliament as budget session gets underway, ET BFSI
New Delhi [India], January 31 (ANI): President Droupadi Murmu on Thursday stated that with the efforts of the government, India is going to become the third biggest economy in the world.The president said that my government's mantra is "Sabka Sath, Sabka Vikas, Sabka...
Budget 2025 may push large-scale deregulation, Economic Survey set to suggest, ET BFSI
The Economic Survey, tabled a day ahead of Finance Minister Nirmala Sitharaman’s Budget 2025 speech, signals a potential push for large-scale deregulation. Earlier, Chief Economic Advisor (CEA) Anantha Nageswaran emphasised that easing regulatory burdens could enhance...
Trump lashes out at Biden, DEI efforts after D.C. plane crash
U.S. President Donald Trump speaks to reporters about Wednesday's deadly midair collision between a U.S. Army Black Hawk helicopter and American Eagle flight 5342 near Ronald Reagan Washington National Airport, in the Brady Press Briefing Room at the White House in...
GST not applicable on penal charges levied by banks and NBFCs, CBIC clarifies, ET BFSI
No GST on penal charges levied by banks, NBFCs: CBICThe Central Board of Indirect Taxes and Customs (CBIC) has said that Goods and Services Tax (GST) will not be applicable on penal charges levied by banks and non-banking financial companies (NBFCs). This...
What is Economic Survey? What to expect from the 2024-25 Survey?, ET BFSI
The Union Government is set to present the Annual Economic Survey 2024-25, the official report card on the state of economy, on Friday.As per the protocol, Chief Economic Adviser (CEA) V Anantha Nageswaran will present the Economic Survey a day before the presentation...
RBI likely to continue liquidity easing as deficit seen above Rs 2 lakh crore this fiscal, ET BFSI
The Reserve Bank of IndiaThe Reserve Bank of India (RBI) is expected to take further actions to alleviate the banking system’s liquidity deficit, which has remained consistently above Rs 3 lakh crore in recent weeks.To tackle liquidity crunch which has reached almost...
Survey, BFSI News, ET BFSI
New Delhi: Majority of industry leaders expect the country's economy to grow between 6-6.9% in the financial year 2025-26, supported by technological advancements and reforms to improve the ease of doing business, says a survey. According to the Grant Thornton...
Understanding key terms from fiscal deficit to finance bill, ET BFSI
Nirmala Sitharaman, Minister of Finance & Corporate AffairsIndia’s first union budget was presented on February 18, 1860, by James Wilson, a Scottish economist and politician under British rule. Post-independence, the first budget of India was introduced by R K...
Budget Session will have several key economic and policy bills to shape India’s fiscal landscape, ET BFSI
New Delhi [India], January 30 (ANI): Following the presentation of the Economic Survey on January 31 and the Union Budget on February 1, the Budget Session 2025 is poised to address a range of significant legislative matters. This year's session will not only include...
Trump says he will send migrants to Guantanamo Bay
U.S. President Donald Trump speaks during an event to sign the Laken Riley Act, at the White House in Washington on Jan. 29, 2025.Elizabeth Frantz | ReutersPresident Donald Trump on Wednesday said he will order his administration to prepare Guantanamo Bay, the U.S....
Budget, RBI policy to steer India’s economic growth in next 10 days: UBI, ET BFSI
New Delhi [India], January 30 (ANI): The next 10 days will be pivotal for India's economic trajectory as the upcoming Union Budget announcement on February 1 and the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting on February 7 will lay down the...
Trump accuses Fed, Powell of creating inflation on heels of rate decision
President Donald Trump, right, speaks as Jerome Powell, Trump's nominee as chairman of the Federal Reserve, listens during a nomination announcement in the Rose Garden of the White House in Washington, D.C., Nov. 2, 2017.Olivier Douliery | Bloomberg | Getty...
US Fed pauses interest rate cuts, signaling a cautious approach ahead, ET BFSI
The US Fed on Wednesday paused interest rate cuts after its last slash, confirming an expected cautious approach to further reductions in the year and signalling a wait-and-watch approach to gauge what policies President Donald Trump may pursue.The Fed decided to...
Trump files formal notice of plan to appeal hush money conviction
Former U.S. President Donald Trump speaks to members of the media amid his trial on charges of covering up hush money payments linked to alleged extramarital affairs, at Manhattan Criminal Court in New York City, on May 16, 2024.Angela Weiss | Via ReutersPresident...
White House rescinds federal funds freeze memo
U.S. President Donald Trump looks on as he speaks to reporters aboard Air Force One before arriving at Joint Base Andrews, Maryland, U.S., Jan. 27, 2025. Elizabeth Frantz | ReutersThe White House on Wednesday formally rescinded a controversial memo that had ordered a...
DOJ drops appeal against co-defendants
Walt Nauta, personal aide to former U.S. President Donald Trump who faces charges of being Trump's co-conspirator in the alleged mishandling of classified documents, walks with Trump during a LIV Golf Pro-Am golf tournament at the Trump National Golf Club in Sterling,...
RBI likely to go for steps to spur growth in February monetary policy review: Jefferies, ET BFSI
Mumbai, The RBI's monetary policy committee meeting scheduled for February is likely to spring some positive surprises with a growth-favoured approach, according to brokerage firm Jefferies.Reserve Bank of India (RBI) policies can take a growth-supportive turn,...
Man eyed killing Treasury Secretary Scott Bessent at Capitol, police say
The dome of the Capitol is seen through a security fence on Capitol Hill in Washington, U.S., December 20, 2024.Kevin Lamarque | ReutersA Massachusetts man arrested at the U.S. Capitol with Molotov cocktails and a knife told police he was there to "kill" Treasury...
RBI’s bold liquidity measures signal rate cut in February, shift towards easing, ET BFSI
The Reserve Bank of India's (RBI) recent liquidity injection measures, announced to address a significant Rs 2.9 lakh crore liquidity deficit, are set to recalibrate the financial system but may not entirely resolve the shortfall. Analysts believe these steps, while...
Trump administration offering buyouts to nearly all federal workers
A woman walks down the stairs in front of the U.S. Capitol building, ahead of the presidential inauguration of Donald Trump, in Washington on Jan. 15, 2025.Marko Djurica | ReutersThe Trump administration is offering millions of federal workers the option to accept...
CBIC, BFSI News, ET BFSI
Goods and Services Tax (GST) will not be applicable on penal charges levied by banks and non-banking finance companies (NBFCs), the CBIC has said. The Central Board of Indirect Taxes and Customs (CBIC) through a circular has also clarified that GST will not be levied...
Judge pauses Trump funding freeze order until Feb. 3
A federal judge paused until next week a Trump administration order that would have frozen the issuance of existing federal grants and loans until agencies vetted them.Judge Loren AliKhan's ruling Tuesday during a hearing conducted on Zoom came just minutes before the...
Widened gap between credit and deposit requires further liquidity boost by RBI: Report, ET BFSI
New Delhi [India], January 29 (ANI): The Reserve Bank of India (RBI) should take further measures to boost liquidity says a report by the Union Bank of India.The report said the gap between the credit and the deposit growth in the Indian banks has gone up over the...
Medicaid state portals down, Sen. Wyden says
Medicaid reimbursement portals were down Tuesday in all 50 states on the heels of a funding freeze ordered by the Trump administration of federal grants and loans, Sen. Ron Wyden, D-Ore., said.Sen. Chris Murphy, a Connecticut Democrat, separately said that his state's...
Trump funding freeze challenged in lawsuit
U.S. President Donald Trump looks on as reporters ask questions aboard Air Force One during a flight from Las Vegas, Nevada, to Miami, Florida, U.S., January 25, 2025. Leah Millis | ReutersNon-profit groups and a small-business organization filed a lawsuit on Tuesday...
Short seller Andrew Left seeks to dismiss U.S. fraud case, filing shows
Andrew Left of Citron Capital on CNBC's Halftime Report.Adam Jeffery | CNBCProminent short seller Andrew Left is pressing a judge to dismiss U.S. charges that he manipulated the market and defrauded investors with his negative reports about companies, according to a...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Strong run threatenedU.S. stocks were set to fall to start the week. Shares of AI companies – which have driven the market in recent months – tumbled amid concerns about a...
Trump military executive orders on DEI, vaccines, transgender troops
U.S. President Donald Trump signs documents as he issues executive orders in the Oval Office at the White House on Inauguration Day in Washington, U.S., Jan. 20, 2025. Carlos Barria | ReutersPresident Donald Trump is expected Monday to sign multiple executive orders...
DOJ fires Jack Smith prosecution officials
James McHenry testifies before the Senate Judiciary Committee in the Hart Senate Office Building on Capitol Hill July 31, 2018 in Washington, DC.Chip Somodevilla | Getty ImagesThe Department of Justice on Monday fired officials involved in the now-terminated federal...
RBI asks banks to tighten cybersecurity oversight, digital fraud prevention, ET BFSI
RBI governor Governor Sanjay Malhotra asks banks to continue financial stability, deepen financial inclusion, ensure affordable credit. The Reserve Bank of India said on Monday its chief has urged banks to tighten their oversight on cybersecurity issues and to have...
CDC ordered to stop working with WHO immediately
A logo is pictured outside a building of the World Health Organization (WHO) during an executive board meeting on update on the coronavirus disease (COVID-19) outbreak, in Geneva, Switzerland, April 6, 2021. Denis Balibouse | ReutersU.S. public health officials have...
Trump’s rate-cut call can’t reverse underwhelming growth odds just yet, ET BFSI
It is a truth universally acknowledged that a copious supply of inexpensive money is no guarantee of durable economic growth.But as economic fault-lines on either side of the Atlantic become more visible after the first week of Donald Trump 2.0 in the Oval Office,...
Lower budget borrowing may add to India cash boost cheer, BFSI News, ET BFSI
India’s net borrowings will likely decline for a second straight year, possibly extending a rally in the nation’s bonds, as the government is expected to stick to its fiscal consolidation path. Prime Minister Narendra Modi’s administration will borrow 11.4 trillion...
Trump addresses House Republican conference in Florida
[The stream is slated to start at 5 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Donald Trump is set to address House Republicans at the kickoff of their annual agenda-planning conference on Monday afternoon.The three-day...
RBI announces measures to inject liquidity in banking system, BFSI News, ET BFSI
Reserve Bank of India (RBI) on Monday announced a host of measures to inject liquidity in the banking system, including bond purchases and dollar/rupee swaps.The central bank in a release said it will buy government bonds worth Rs 60,000 crore in three tranches and...
World Bank president cautions against hasty reaction to Trump policies, ET BFSI
By Duncan MiririDAR ES SALAAM, - Policymakers around the globe should not react in haste to announcements by U.S. President Donald Trump's administration, and be prepared to argue their case, World Bank President Ajay Banga told Reuters.Trump's first week in office...
Govt plans customised social security policy for gig workers from FY26, FM may announce plan in Budget, ET BFSI
New Delhi: The government could soon unveil a social security benefit plan for gig and platform workers, officials said.Transaction-based contribution by aggregators, or a common rate of contribution aimed at creating a sustainable and meaningful finance pool for the...
coffee, crude oil and cut flowers could see higher prices
US President Donald Trump speaks to the media after signing executive orders in the Oval Office of the White House in Washington, DC, on Jan. 23, 2025.Roberto Schmidt | AFP | Getty ImagesPresident Donald Trump's newly announced tariffs on goods from Colombia could...
RBI has hired over 800 officers, including techies in supervision and enforcement department, ET BFSI
RBI hires 800 plus officers, including techies, in supervision and enforcement departmentThe Reserve Bank of India (RBI) has strengthened its supervision and enforcement team by over 800 people since the pandemic, based on recruitment trends, resulting in increased...
Trump’s firing of independent watchdog officials draws criticism
U.S. President Donald Trump's late-night firing of inspectors general at multiple government agencies was criticized as illegal on Saturday by Democrats and others and drew concern from at least one fellow Republican.In what critics called a late-night purge, Trump...
India central bank’s bond purchases raise bets of February rate cut, investors say, ET BFSI
By Dharamraj DhutiaMUMBAI - The Reserve Bank of India's unexpected purchase of government bonds pushed down bond yields on Monday and raised bets for a cut in interest rates in February, investors said.The central bank's bond purchases accompanied daily overnight repo...
Centre invites applications for SEBI Chairperson as Buch’s tenure ends in Feb, ET BFSI
The Ministry of Finance’s Department of Economic Affairs has invited applications for the position of Chairperson of the Securities and Exchange Board of India (SEBI).Madhabi Puri Buch, the current SEBI Chairperson, will conclude her tenure on February 28, 2025. Buch,...
U.S. puts Colombia tariff, sanctions threat on hold after deportations deal
Colombian Foreign Relations Minister Luis Gilberto Murillo (C) looks on next to Vice-Minister of Foreign Affairs Jorge Rojas (L), Director of DAPRE Laura Sarabia (2nd-L), Ambassador of Colombia to the United States German Garcia-Pena (2nd-R), and Minister of Commerce,...
Trump wants to ‘clean out’ Gaza, send Palestinians to settle in Egypt and Jordan
People watch a television along a street in Khan Yunis in the southern Gaza Strip on Jan. 15, 2025, amid the ongoing war in the Palestinian territory between Israel and Hamas.Bashar Taleb | AFP | Getty ImagesPresident Donald Trump's suggestion that Egypt and Jordan...
Trump Greenland play is about national security
President Donald Trump has reiterated his desire to buy Greenland, and refused to rule out using military or economic coercion to achieve his goal of controlling the autonomous territory of Denmark. .However, the United States isn't the only country with an eye on the...
House Republicans divided over how to pay for Trump’s tax cuts
U.S. House Speaker Mike Johnson (R-LA) listens to remarks during a House Republican leaders press conference at the U.S. Capitol House in Washington, U.S., November 12, 2024. Nathan Howard | ReutersRepublicans who control the U.S. House of Representatives are trying...
CIA believes Covid-19 likely caused by lab leak, NBC News reports
"CIA continues to assess that both research-related and natural origin scenarios of the COVID-19 pandemic remain plausible."
White House makes 2,000-pound bombs available to Israel, undoing Biden’s pause
A Palestinian child plays with the rubble after Israel bombs Palestinians' tents and shelters in Rafah, Gaza, on May 27, 2024.Hani Alshaer | Anadolu | Getty ImagesPresident Donald Trump's White House has instructed the U.S. military to release a hold imposed by the...
Trump uses mass firing to remove more than a dozen independent inspectors general at a series of agencies
The Trump administration has fired more than a dozen independent inspectors general at government agencies, a sweeping action to remove oversight of his new administration that some members of Congress are suggesting violated federal oversight laws.The dismissals...
Trump’s stop in Las Vegas will focus on how he wants to eliminate taxes on tips
U.S. President Donald Trump disembarks Air Force One at Harry Reid International Airport, in Las Vegas, Nevada, on Jan. 24, 2025.Leah Millis | ReutersPresident Donald Trump is using a stop Saturday in Las Vegas to offer details on how he can begin excluding tips from...
Senate heads toward confirming Kristi Noem as Trump’s homeland security secretary
South Dakota Governor Kristi Noem looks on at the start of a Senate Homeland Security and Governmental Affairs Committee hearing on her nomination to be Secretary of Homeland Security, on Capitol Hill in Washington, DC, on January 17, 2025. Saul Loeb | Afp | Getty...
Women centric Direct Benefit Transfer have bled state finances: SBI, ET BFSI
NEW DELHI: The State Bank of India raised concerns about the financial stability of women-centric Direct Benefit Transfer (DBT) schemes in various states. These schemes, which provide direct cash benefit transfers to women particularly around election periods, could...
Trump third-term amendment tough to pass: Harvard Law professor
U.S. President Donald Trump speaks to journalists as he signs executive orders in the Oval Office of the White House in Washington, D.C., on Jan. 20, 2025.Jim Watson | AFP | Getty ImagesA newly introduced constitutional amendment that would allow President Donald...
Ombudsman disposed of 95 pc complaints received in FY24, BFSI News, ET BFSI
Mumbai: The RBI on Friday said the ombudsman disposed of 95.1 per cent of the complaints it received between April 1, 2023 and March 31, 2024. Under the Reserve Bank - Integrated Ombudsman Scheme (RB-IOS), a total of 9,34,355 complaints were received by the Office of...
RBI penalises J&K Bank, Bank of India, Canara Bank, BFSI News, ET BFSI
The Reserve Bank on Friday said it has penalised Jammu and Kashmir Bank, Bank of India, and Canara Bank for deficiencies in regulatory compliance. Jammu and Kashmir Bank has been penalised Rs 3.31 crore for contravention of certain norms related to financial inclusion...
Hegseth confirmed as Trump’s defense secretary in tie-breaking vote despite turmoil over his conduct
The Senate confirmed Pete Hegseth as the nation's defense secretary Friday in a dramatic late-night vote, swatting back questions about his qualifications to lead the Pentagon amid allegations of heavy drinking and aggressive behavior toward women.Rarely has a Cabinet...
Trump recommends ending FEMA ahead of California fire site visit
U.S. President Donald Trump speaks to the media flanked by Tennessee Governor Bill Lee, as they arrive to assess recovery efforts and tour areas devastated by Hurricane Helene, at Asheville Regional Airport in Asheville, North Carolina, U.S., Jan. 24, 2025. Leah...
RBIH seeks new CEO, releases advertisement as Rajesh Bansal’s term to end soon, ET BFSI
The tenure of Rajesh Bansal, CEO of RBI Innovation Hub (RBIH), a wholly owned subsidiary of the Reserve Bank of India, is set to come to an end as the central bank has released an advertisement for the apex post on Friday. The RBIH seeks a visionary Chief Executive...
Costco shareholders reject call for review of diversity programs
A truck driver climbs into a semitruck at a Costco Wholesale location in Hawthorne, California, on March 14, 2020.Patrick T. Fallon | Bloomberg | Getty ImagesCostco Wholesale shareholders voted strongly against a proposal requesting a report on the risks of...
RBI in touch with banks on new liquidity norms amid fears of credit flow being hit, ET BFSI
Mumbai, The Reserve Bank of India (RBI) has got in touch with banks this week to understand the impact of its new liquidity coverage norms following concerns that the move would adversely impact the flow of credit in the economy.Banks have provided some feedback,...
Here’s what Gen Z & Millennials expect from upcoming budget, ET BFSI
~Samriddhi Singh Mahar & Siddhi Nawar In an era of rising geopolitical volatility and turmoil in capital markets, add in the ongoing rupee crisis and India’s youth is truly confused about what the future holds. With an increasingly competitive job market and a...
Supreme Court allows anti-money laundering law to take effect
A woman carries a "SCOTUS v THE PEOPLE" sign in front of the U.S. Supreme Court in Washington on Monday, October 7, 2024. Bill Clark | Cq-roll Call, Inc. | Getty ImagesThe Supreme Court cleared the way on Thursday for the enforcement of an anti-money laundering...
Innovate, explore CBDC for efficient micro loan collection, ET BFSI
Suvendu Pati, CGM (FinTech Department), Reserve Bank of IndiaAddressing the challenges faced by banks during product testing, the Reserve Bank of India, Chief General Manager, Suvendu Pati brought attention to one of the causes behind delays and stretched timelines in...
Reforming the credit information landscape to foster confidence in credit market, ET BFSI
By streamlining existing regulations and introducing new provisions, the RBI seeks to empower borrowers, strengthen lenders, and foster a more inclusive and responsible credit market.The Reserve Bank of India (RBI) recently unveiled its Master Direction on Credit...
Trump declassifies JFK, RFK, King assassination files
President Donald Trump signed an executive order at the White House on Thursday to declassify government records related to the assassinations of President John Kennedy, Sen. Robert F. Kennedy and the Rev. Martin Luther King Jr.Trump's order could put an end to some...
Bumper dividend or higher provisions amid rupee fall, ET BFSI
India’s central bank is likely to deliver a significant dividend payout to the government for the fiscal year ending March, supported by its income from extensive foreign exchange transactions, according to brokerage estimates. Analysts estimate the Reserve Bank of...
Trump third White House term eyed by House resolution
From left, Rep. Andrew Clyde, R-Ga., Speaker of the House Mike Johnson, R-La., Reps. Andy Ogles, R-Tenn., and Dusty Johnson, R-S.D., talk in the House chamber of the U.S. Capitol before Johnson won the speakership for the 119th Congress on Friday, Jan. 3, 2025.Tom...
Government’s subsidy burden to exceed budget estimates to Rs 4.2 lakh crore in FY25: BoB report, ET BFSI
Government's subsidy burden is expected to rise to about Rs Rs 4.1-4.2 lakh crore in the financial year 2024-25 (FY25) more than the budget estimates of Rs 3.8 lakh crore, according to a report by the Bank of Baroda.The report said that the increase is driven...
Sen. Lisa Murkowski to vote against Hegseth
U.S. Sen. Lisa Murkowski (R-AK) ahead of a session on Capitol Hill in Washington on Jan. 22, 2025 in Washington, DC.Kayla Bartkowski | Getty ImagesSen. Lisa Murkowski announced Thursday that she will vote against confirming Pete Hegseth to lead the Pentagon, becoming...
Trump speaks to Davos, global markets respond
(The stream is slated to start at 11 a.m. ET. Please refresh the page if you do not see a video above at that time.)WASHINGTON — President Donald Trump addressed the World Economic Forum in Davos, Switzerland, virtually on Thursday, his first major appearance at an...
Finance minister may balance growth and fiscal discipline, ET BFSI
The Union Budget for FY26 is expected to emphasise on targeted fiscal policies to sustain growth while adhering to the fiscal consolidation roadmap. Nomura anticipates a fiscal deficit target of 4.4% of GDP, a reduction from 4.8% in FY25, signaling a balanced approach...
Bid amount exceeds RBI offer for 1st time in daily VRR auction, ET BFSI
The Reserve Bank of India (RBI) Wednesday received bids worth Rs 1.72 lakh crore - 38% more than the notified amount of Rs 1.25 lakh crore - in the daily variable rate repo (VRR) auctions.Higher-than-expected monthly goods and services tax (GST) outflows, typically...
RBI expected to transfer another bumper payout to govt, analysts say, ET BFSI
India’s central bank will likely make another windfall payout to the government on account of its intervention in currency markets to stem the decline in the rupee, according to economists. IDFC First Bank Ltd. estimates 2 trillion rupees ($23.1 billion) of transfer...
Musk undercuts Trump’s Stargate AI investment announcement
The logo of OpenAI is shown on a mobile phone in front of a computer screen displaying the photographs of Sam Altman, left, and Elon Musk, March 14, 2024.Muhammed Selim Korkutata | Anadolu | Getty ImagesElon Musk claimed overnight Tuesday that tech giants OpenAI,...
Trump threatens Russia with sanctions if Ukraine persists
Russian President Vladimir Putin (L) looks at U.S. President Donald Trump during the welcoming ceremony prior to the G20 Summit's Plenary Meeting on November 30, 2018 in Buenos Aires, Argentina. Mikhail Svetlov | Getty ImagesPresident Donald Trump on Wednesday...
RBI MPC member Nagesh Kumar advocates two inflation rates for better policy making, ET BFSI
RBI Monetary Policy Committee member Nagesh Kumar has suggested that there should be two inflation rates - one including food prices and the other without food prices - so that relevant rates could be taken into account for policy making. Chief Economic Advisor V...
Trump pardons Silk Road creator Ross Ulbricht
US President Donald Trump signs executive orders during the inaugural parade inside Capital One Arena, in Washington, DC, on January 20, 2025. Angela Weiss | Afp | Getty ImagesPresident Donald Trump granted a full pardon on Tuesday to Ross Ulbricht, the founder of...
Union Budget will balance fiscal consolidation and growth; Capital expenditure likely to rise to Rs11-11.5 lakh cr: Report, ET BFSI
New Delhi [India], January 22 (ANI): The Union Budget for the fiscal year 2025-26, to be presented on February 1, 2025, is expected to strike a delicate balance between fiscal consolidation and growth-oriented measures, according to a Bank of Baroda report.To...
Quad foreign ministers meet in Washington in signal of Trump’s China focus
US Secretary of State Marco Rubio (2R) stands alongside Indo-Pacific Quad ministers, L-R, Japanese Foreign Minister Iwaya Takeshi, Indian Foreign Minister Subrahmanyam Jaishankar and Australian Foreign Minister Penny Wong, during a photo opportunity before meetings at...
Where’s the money? Can the Budget pull exporters out of their credit crunch?, ET BFSI
Credit crunch among MSME exporters in India has become a pressing challenge for quite some time. As per estimates, export credit in India has plummeted by 5% from March 2022 to March 2024, with priority sector lending for exports dropping by 41%. A report by the...
Trump AI investment with OpenAI, Oracle, Softbank
U.S. President-elect Donald Trump looks on as SoftBank CEO Masayoshi Son delivers remarks at Trump’s Mar-a-Lago resort on December 16, 2024 in Palm Beach, Florida. Andrew Harnik | Getty ImagesPresident Donald Trump will announce a joint venture Tuesday with OpenAI,...
5 things to know before the stock market opens Tuesday
Here are the most important news items that investors need to start their trading day:1. Day oneStock futures rose Tuesday in the first trading day of Donald Trump's second term as president. Markets were closed Monday for Martin Luther King Jr. Day. U.S. stocks are...
RBI eases settlement norms for ARCs, resolutions could quicken, ET BFSI
The Reserve Bank of India (RBI) has allowed asset reconstruction companies (ARCs) to settle dues with borrowers after examining all possible ways to recover their dues, doing away with the earlier direction that needed ARCs to exhaust all measures for recovery before...
Reserves adequate to absorb depreciation impact and RBI dollar sales, ET BFSI
While the rupee has depreciated at a modest pace compared to many of India’s trading partners, the armoury of forex reserves is a lot more comfortable than 2013. There is still more room for the value of the rupee to ease further.RBI's reserves adequacy ratio - an...
Reserves adequate to absorb depreciation impact and RBI dollar sales, ET BFSI
While the rupee has depreciated at a modest pace compared to many of India’s trading partners, the armoury of forex reserves is a lot more comfortable than 2013. There is still more room for the value of the rupee to ease further.RBI's reserves adequacy ratio - an...
Biden pardons his family in final minutes in office
President Joe Biden on Monday issued preemptive pardons for three of his siblings and two of their spouses, citing concerns that they will be targeted by "baseless and politically motivated investigations."The White House announced the pardons just minutes before...
RBI announces new external advisory committee for Universal Banks and SFBs, ET BFSI
The Reserve Bank of India (RBI) on Monday announced that it has constituted a Standing External Advisory Committee (SEAC) to evaluate applications for Universal Banks and Small Finance Banks (SFBs). The committee, appointed for a three-year term, will be chaired by MK...
Biden pardons Dr. Anthony Fauci, Gen. Milley, Jan. 6 committee members
U.S. President Joe Biden reacts as he speaks from the Roosevelt Room about the jobs report and the state of the economy at the White House in Washington, U.S., January 10, 2025. Elizabeth Frantz | ReutersPresident Joe Biden on Monday issued pardons for Dr. Anthony...
Trump inauguration live updates: TikTok, immigration, energy orders
Biden pardons Fauci, Gen. Milley, Jan. 6 committee members US President Joe Biden delivers remarks at a Department of Defense Commander in Chief Farewell Ceremony at Joint Base Myers-Henderson Hall in Arlington, Virginia, on Jan. 16, 2025. Roberto Schmidt | AFP |...
Will RBI go for rate cut in upcoming February policy amid rupee crisis?, ET BFSI
Reserve Bank of IndiaThe Reserve Bank of India (RBI) is grappling with a delicate balance between managing inflation and addressing the pressures caused by a weakening rupee as it prepares for its upcoming monetary policy review in February. With the rupee having...
BFSI leaders on Budget 2025 priorities, ET BFSI
As India gears up for Union Budget 2025, there are multiple questions on table. How will the government sustain capital expenditure without straining its fiscal position? Can it balance economic growth with inflation management? Will job creation and skill development...
Trump promises harsh immigration limits on inauguration eve
Supporters of U.S. President-elect Donald Trump gather outside Capital One Arena, for a rally a day before he is scheduled to be inaugurated for a second term, in Washington, D.C., on Jan. 19, 2025.Daniel Cole | ReutersDonald Trump told thousands of roaring supporters...
RBI’s got a tough call in Feb as global peers opt for rate cuts, ET BFSI
Mumbai: Monetary easing by global central banks across developed and emerging market economies has gathered pace since November 2024, when Donald Trump was elected president of the United States. The latest monetary easing by Bank of Indonesia, the first central bank...
RBI study, BFSI News, ET BFSI
The benefits of intervening in the foreign exchange market for emerging market economies like India far outweigh the costs, according to an article published in RBI's Jan bulletin.The authors highlight that RBI's interventions, both in the spot and forward markets,...
China’s vice president meets with Elon Musk ahead of Trump inauguration
Beata Zawrzel | Nurphoto | Getty ImagesChina's Vice President Han Zheng met on Sunday with Tesla CEO Elon Musk and other members of the U.S. business community in Washington D.C., the official Xinhua news agency reported on Monday.Han told Musk he "welcomed Tesla and...
10-minute delivery is boosting Indian economy’s ‘brightening spot’, highlights RBI, ET BFSI
Private final consumption is proving to be a key bright spot in India's economic recovery, with e-commerce and quick commerce (q-commerce) playing a significant role, the Reserve Bank of India (RBI) stated in its recent bulletin. Calling consumption a "brightening...
How the rest of the world feels as Trump is inaugurated
U.S. President Donald Trump at a press conference at the end of the NATO summit in July 12, 2018.Bernd von Jutrczenka | dpa | picture alliance | Getty ImagesU.S. President-elect Donald Trump returns to the White House on Monday, and much of the world is watching on...
New “cooling-off facility” could soon mitigate mule menace as govt, RBI seek to stay a step ahead of fraudsters, ET BFSI
In an ongoing effort to combat online fraud, the government and the Reserve Bank of India (RBI) are exploring the option of implementing a "cooling off facility" designed to temporarily block funds deposited into bank accounts, ToI reported on January 20. This...
Ceasefire brings hope in Gaza as Hamas frees the first hostages
Palestinian Hamas militants hand over hostages kidnapped during the Oct. 7, 2023, attack on Israel by Hamas, to members of the International Committee of the Red Cross as part of a ceasefire and a hostages-prisoners swap deal between Hamas and Israel, in Gaza City, on...
Trump says he will revive TikTok, but wants 50% U.S. ownership
U.S. President-elect Donald Trump makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025.Carlos Barria | ReutersPresident-elect Donald Trump said he would revive TikTok access in the U.S. by executive order after he is sworn in on Monday, but said he...
Biden posthumously pardons Black nationalist Marcus Garvey
US President Joe Biden delivers his farewell address to the nation from the Oval Office of the White House in Washington, DC, on Jan. 15, 2025. Mandel Ngan | Via ReutersPresident Joe Biden on Sunday posthumously pardoned Black nationalist Marcus Garvey, who influenced...
Civil rights leaders and King family mark MLK Day as a special call to action as Trump takes office
When President-elect Donald Trump is sworn in as president of the United States inside the Capitol's rotunda, he will do so facing a bust of the Rev. Martin Luther King Jr. on the federal holiday commemorating King's legacy.It's a disquieting contrast for some civil...
Israeli forces attack Gaza after ceasefire deadline missed
A view over the Gaza Strip as seen from a position on the Israeli side of the border on Jan. 16, 2025.Amir Levy | Getty Images News | Getty ImagesIsraeli warplanes and artillery attacked the northern Gaza Strip on Sunday and Palestinian medics said eight people were...
Eliminate coal cess to support power intensive industries like aluminium, says Assocham, ET BFSI
Industry body Assocham has pitched for the removal of coal cess stating that the move will support power-intensive industries like aluminium and maintain competitiveness of the domestic industry. In its pre-budget memorandum 2025-26, the industry body said that "high...
Thousands converge on Washington for a march days before Trump takes office
People attend the "People's March on Washington" ahead of the presidential inauguration of U.S. President-elect Donald Trump, in Washington, D.C., on Jan. 18, 2025Jon Cherry | ReutersThousands of people from around the United States were rallying in the nation's...
South Korea’s President Yoon attends court hearing on extending detention
South Korea's impeached President Yoon Suk Yeol arrives at the Corruption Investigation Office for High-ranking Officials (CIO), in Gwacheon, South Korea, January 15, 2025. Korea Pool | Via ReutersSouth Korea's impeached President Yoon Suk Yeol attended a court...
Ceasefire between Israel and Hamas will go into effect at 0630 GMT on Sunday
People react to the reports of a possible Gaza ceasefire and hostage release deal being reached during a rally calling for the return of captives held in the Gaza Strip on Jan. 15, 2025 in Tel Aviv, Israel. Amir Levy | Getty Images News | Getty ImagesQatar's foreign...
DOJ sues Walgreens alleging prescriptions filled without medical purposes
In an aerial view, a customer enters a Walgreens store on Jan.4, 2024 in San Pablo, California.Justin Sullivan | Getty ImagesThe Department of Justice said Friday that it sued pharmacy giant Walgreens for allegedly dispensing millions of unlawful prescriptions.The DOJ...
Disinflation can be expected to continue unevenly, RBI says, BFSI News, ET BFSI
Disinflation can be expected to continue unevenly, opening up some more albeit limited space for monetary policy easing, according to the Reserve Bank of India’s (RBI) January 2025 bulletin. This shift could provide welcome relief to households and individuals...
Biden declares Equal Rights Amendment law; impact is unclear
U.S. Representative Cori Bush along with other U.S. lawmakers and advocates hold a press conference outside the Capitol Hill building to urge U.S. President Joe Biden to certify the Equal Rights Amendment (ERA) before his term ends in January in Washington DC, United...
Trump economic policy team announced
White House Council of Economic Advisers Chairman Kevin Hassett addresses reporters during the daily briefing at the White House in Washington, U.S. February 22, 2018.Jonathan Ernst | ReutersPresident-elect Donald Trump on Friday announced senior staff appointments to...
Trump inauguration to be moved indoors due to extreme cold
The US Capitol in Washington, DC, US, on Monday, Jan. 6, 2025.Al Drago | Bloomberg | Getty ImagesPresident-elect Donald Trump said his inaugural ceremony will be moved indoors due to the extreme cold set to grip Washington, D.C., on Monday."There is an Arctic blast...
Democrats push for financial oversight
Seating are pictured at the West Front of the U.S. Capitol building as preparations are underway for the upcoming presidential inauguration of U.S. President-elect Donald Trump, in Washington, U.S., Jan. 15, 2025. Fabrizio Bensch | ReutersSenate Democrats are pushing...
Trump and China’s Xi discuss TikTok, trade, fentanyl, president-elect says
President Donald Trump talks with Chinese President Xi Jinping as Xi arrives for dinner at the start of their summit at Trump’s Mar-a-Lago estate in West Palm Beach, Florida, U.S. April 6, 2017.Carlos Barria | ReutersPresident-elect Donald Trump said he spoke on the...
New RBI directive to banks, NBFCs to ensure nomination in FDs, saving accounts: Check details, ET BFSI
The Reserve Bank of India has issued a notification stating that nomination is not available in a large number of deposit accounts with banks and NBFCs. To avoid undue hardship to survivors/ family members of deceased depositors, the RBI has asked banks to obtain...
Canada’s trade chief warns oil and gas exports could be in play
If President-elect Donald Trump follows through with his threat to impose tariffs on Canadian goods, Ottawa is prepared to retaliate with levies that could take aim at the energy sector, Canada's minister of international trade, Mary Ng, said Thursday."Everything is...
Supreme Court lawyer charged with tax evasion on poker winnings
Tom Goldstein, who writes SCOTUSblog.com, poses for a photograph in front of the Supreme Court, Thursday, Oct. 31, 2013, in Washington.Alex Brandon | APA top Supreme Court lawyer who co-founded a popular blog about the high court was indicted Thursday in Maryland on...
RBI eases FEMA norms to boost use of Indian rupee amid currency drop, ET BFSI
The Reserve Bank of India (RBI) has introduced significant relaxations under the Foreign Exchange Management Act (FEMA) to encourage the use of the Indian Rupee (INR) and local currencies for cross-border transactions. This move is aimed at boosting trade and...
BFSI leaders to share key policy priorities today, ET BFSI
14 days to go before the Union Minister for Finance & Corporate Affairs Nirmala Sitharaman presents the Union Budget 2025 on February 1 in Lok Sabha. With inflation running high, growth projections slipping to as low as 5.4 per cent in Q2 of FY25, and geopolitical...
The BRICS bloc is growing — and Trump’s tariff threat isn’t expected to put off aspiring members
Family photo of leaders taken at the 16th BRICS Summit in Kazan, Russia on Oct. 24, 2024. Anadolu | Anadolu | Getty ImagesPresident-elect Donald Trump has pledged a 100% tariff against BRICS nations if they continue to undermine the U.S. dollar — but the threat won't...
American Express to pay $230 million to settle fraud probe
Silas Stein | Picture Alliance | Getty ImagesAmerican Express will pay approximately $230 million to resolve a federal criminal wire fraud investigation and settle allegations of deceptive marketing, the company said Thursday.The total includes more than $138 million...
SALT cap fight ramps up
WASHINGTON — An influential group of five House Republicans from high-tax states is threatening to hold up a major tax package that is a top priority for President-elect Donald Trump unless they get a significant boost to the amount that their constituents can deduct...
Trump, Vance official portraits released
Official portraits of President-elect Donald Trump and Vice-President-elect J.D. VancePresident-elect Donald Trump's transition team shared official portraits of Trump and Vice President-elect JD Vance days before their inauguration.Both of the brightly lit portraits...
RBI liberalises FX rules to promote cross-border trade, ET BFSI
To encourage the use of the rupee and other currencies to settle cross-border transactions, India's central bank took steps to further liberalise regulations under the foreign exchange management act, it said in a release on Thursday.Indian exporters will now be able...
Indian central bank’s daily liquidity infusion to aid money markets, traders say, ET BFSI
By Dharamraj DhutiaMUMBAI - Reserve Bank of India's plan to infuse liquidity into the banking system daily via variable rate repo (VRR) auctions will lead to a drop in overnight interbank and money market rates, as well as near-end overnight index swaps, traders said...
RBI introduces daily VRR operations to boost banking liquidity amidst deficit, ET BFSI
The central bank Wednesday prioritized liquidity infusion into the banking system by announcing daily variable rate repo (VRR) operations, which would accompany the up to $3-billion worth of dollar-rupee buy-sell swaps conducted since Friday, as Mint Road seeks to...
Israel-Hamas ceasefire hostage deal agreed
Supporters of Israeli hostages, who were kidnapped during the deadly October 7 2023 attack by Hamas, react to news on the Gaza ceasefire negotiations, during a protest to demand a deal to bring every hostage home, in Tel Aviv, Israel, January 15, 2025. Ronen Zvulun |...
Trump picks face Senate confirmation hearings
Tense Pete Hegseth hearing kicked off Trump Cabinet confirmationsThe process of appointing Trump's Cabinet kicked off Tuesday with a contentious Senate confirmation hearing for Defense Secretary hopeful Pete Hegseth, one of the president-elect's most controversial...
Biden administration will announce it’s lifting state sponsor of terrorism designation for Cuba
A man with a tattoo depicting late revolutionary hero Ernesto 'Che' Guevara wears a T-shirt with colors of the U.S. flag in downtown Havana, Cuba, October 18, 2024. Norlys Perez | ReutersThe Biden administration on Tuesday is expected to lift the U.S. designation of...
RBI’s 62nd Deputy Governor Michael Patra’s tenure comes to a close, ET BFSI
RBI DG Patra retires on January 15th, 2025 after a tenure of five yearsMichael Debabrata Patra, the 62nd Deputy Governor of the Reserve Bank of India (RBI), will be concluding his tenure today i.e 15th January, 2025, after serving for five years. Dr Patra was...
RBI reshuffles portfolios of Deputy Governors; Michael Patra’s tenure concludes, ET BFSI
The Reserve Bank of India (RBI) on Tuesday announced a reshuffling of portfolios among three of its four Deputy Governors, M Rajeshwar Rao, T Rabi Sankar, and Swaminathan Janakiraman, effective January 15, 2025. The reshuffle coincides with the conclusion of Michael...
Biden administration finalizes crackdown on Chinese vehicles
Chinese made BYD passenger battery electric vehicles and plug-in hybrid electric vehicles collectively known as new energy vehicles in China in a compound in Sheerness, Kent. Issue date: Thursday April 4, 2024.Gareth Fuller | Pa Images | Getty ImagesPresident Joe...
MeitY conducts consultation meeting with top bureaucrats, industry representatives on draft DPDP Rules, ET BFSI
Ashwini Vaishnaw, Minister for Electronics and Information TechnologyNEW DELHI: The Ministry of Electronics and Information Technology (MeitY) organised a consultation meeting with government officials and industry on the Draft Digital Personal Data Protection (DPDP)...
South Korea’s President Yoon Suk Yeol arrested as agencies probe his short-lived martial law decree
SEOUL, SOUTH KOREA - JANUARY 15: Investigators arrive at the entrance to the presidential residence of Yoon Suk Yeol, as authorities try to execute an arrest warrant, in Seoul, South Korea, on January 15, 2025. Anadolu | Anadolu | Getty ImagesSouth Korean president...
Plummeting rupee could delay RBI’s rate cut plans this Februaray, ET BFSI
Some analysts are pushing back expectations for interest rate cuts in India as the rupee's slump to record lows fans worries about inflation, even as growth in Asia's third-largest economy slows.The weaker currency could add to elevated inflation through costlier...
Trump to create External Revenue Service for tariff collection
U.S. President-elect Donald Trump makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025. Carlos Barria | ReutersPresident-elect Donald Trump on Tuesday said that he will create an "External Revenue Service" to collect "Tariffs, Duties and all Revenue...
Trump Defense pick Pete Hegseth Senate confirmation hearing
Defense secretary nominee Pete Hegseth meets with Senator-elect Jim Banks (R-IN) on Capitol Hill in Washington, U.S., December 5, 2024.Evelyn Hockstein | ReutersSecretary of Defense hopeful Pete Hegseth is set to appear for a high-stakes Senate confirmation hearing...
Firm to pay $45 million in penalties
Scott Olson | Getty ImagesTwo Robinhood broker-dealers agreed to pay $45 million in combined penalties to settle administrative charges by the Securities and Exchange Commission that they violated more than 10 separate securities law provisions related to their...
India’s central bank to judiciously handle FX reserves amid headwinds, sources say, ET BFSI
By Jaspreet Kalra, Siddhi Nayak, Nimesh VoraMUMBAI, - India's central bank will be more judicious in its use of foreign exchange reserves to mitigate domestic currency market volatility amid strong global headwinds, three sources aware of the development said.The...
RBI rate cut delay will lead to more growth sacrifice; must deliver 0.25% reduction in Feb review, ET BFSI
RBI rate cutsThe RBI must start a rate cut cycle with a 0.25 per cent reduction in key rates at the next policy review in February, a German brokerage said on Tuesday. Delaying rate cuts will only lead to more sacrifice on growth, analysts at Deutsche Bank (DB) said,...
Trump inauguration schedule: MAGA rally, fireworks show
A member of the U.S. Army Herald Trumpets participates in a rehearsal for inauguration on the West Front of the U.S. Capitol on January 12, 2025 in Washington, DC. Kevin Dietsch | Getty ImagesDonald Trump's presidential transition team on Monday released a schedule of...
Despite cyclical downturn in India, govt unlikely to unleash any fiscal stimulus measures: Report, ET BFSI
India's market capitalization-to-GDP ratio has reached an all-time high, standing at approximately 135 per cent.NEW DELHI: India is currently experiencing a cyclical economic downturn, with gross domestic product (GDP) growth projected at 6.1 per cent for both FY25...
Critical minerals are big part of Donald Trump’s fixation
An aircraft alledgedly carrying US businessman Donald Trump Jr. arrives in Nuuk, Greenland on January 7, 2025.Emil Stach | Afp | Getty ImagesU.S. President-elect Donald Trump's pursuit to acquire Greenland could well be motivated by critical minerals, with mining...
U.S. Justice Department releases report on Trump attempt to overturn 2020 election
Special Counsel Jack Smith makes a statement to reporters about the 37 federal charges returned by a grand jury in an indictment of former U.S. President Donald Trump on charges of unauthorized retention of classified documents and conspiracy to obstruct justice as...
Biden gives foreign policy legacy speech
[The stream is slated to start at 2 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden is delivering an address aimed at highlighting his foreign policy achievements in office.The Democratic president's speech at the...
Trump Media DJT shares jump ahead of inauguration
Jakub Porzycki | Nurphoto | Getty ImagesShares of Trump Media jumped more than 14% in midday trading Monday, ahead of President-elect Donald Trump's inauguration next week.The stock is now on pace for its best day since Nov. 18, when shares surged 16.65% following...
Jeff Bezos enables Trump democracy threat: Outgoing Washington Post columnist
Jeff Bezos, founder and executive chairman of Amazon and owner of the Washington Post, takes the stage during the New York Times annual DealBook summit at Jazz at Lincoln Center on December 04, 2024 in New York City. Michael M. Santiago | Getty ImagesAmazon founder...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Trimming techU.S. stock futures fell Monday as investors were poised to drop key tech stocks. The drop in growth stocks comes as the U.S. 10-year Treasury yield climbs. A...
Finance ministry to meet heads of banks on Jan 15 to review financial inclusion schemes, ET BFSI
The Finance ministry from time to time launched various drives to achieve saturation under Pradhan Mantri Jan dhan Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY).NEW DELHI: Finance Ministry has called a meeting...
U.S. tightens its grip on AI chip flows across the globe
US President Joe Biden delivers remarks on advancing the safe, secure, and trustworthy development and use of artificial intelligence, in the East Room of the White House in Washington, DC, on October 30, 2023.Brendan Smialowski | AFP | Getty ImagesThe U.S. government...
Foreign capital inflows return in Dec, RBI’s easing cycle likely to begin in Feb, ET BFSI
New Delhi, The conditions are turning favourable for rate cuts in India and the Reserve Bank of India's (RBI) easing cycle is likely to begin from February, according to a report on Monday.The central bank's neutral policy stance gives it flexibility to cut rates.Food...
Finmin to meet heads of banks on Jan 15 to review financial inclusion schemes, ET BFSI
Finance Ministry has called a meeting of heads of Public Sector Banks (PSBs) on Wednesday to review progress of various financial inclusion schemes, including Jan Suraksha and Mudra Yojana. The meeting, which would see participation from representatives of private...
Business correspondents urge RBI to ease domestic transfer limits and rules, ET BFSI
Business correspondents (BCs)-who process thousands of crores of rupees daily in domestic remittances-have urged the Reserve Bank of India (RBI) to relax the restrictions it had imposed on monthly and daily transfers 14 years ago, according to people aware of the...
Finmin may skip bold cuts in personal I-T or surcharge for the rich, but can still take steps to ease burden, ET BFSI
Sovereigns are like business empires. As conglomerates tirelessly dream up ways to conquer new markets, states religiously devise methods to mop up more tax. They pose as morally righteous, innovative and guardians of national interest - yet, endeavouring to appear...
LA still in ‘dangerous situation’
The U.S. military is prepared to deploy to help contain the wildfires that have devastated Los Angeles, Federal Emergency Management Agency (FEMA) Administrator Deanne Criswell said Sunday."There are active duty military personnel that are on a 'prepare to deploy'...
Trump Treasury pick Bessent to divest assets to avoid conflicts
Scott Bessent, who U.S. President-elect Donald Trump has nominated to lead the U.S. Treasury Department, walks towards the New York Stock Exchange (NYSE), on the day U.S. President-elect Donald Trump will ring the opening bell at NYSE to celebrate being named Time...
Biden admin delays enforcement of order blocking Nippon Steel, U.S. Steel deal, companies say
U.S. President Joe Biden attends a briefing on the federal response to the wildfires across Los Angeles, in the Oval Office at the White House in Washington, U.S., Jan. 10, 2025. Elizabeth Frantz | ReutersThe Biden administration delayed until June an order for Nippon...
Special counsel Jack Smith resigns from DOJ as Trump’s fight to block final report continues
Special counsel Jack Smith, who is overseeing the prosecution of former President Donald Trump in two federal cases, was the target of an attempted swatting at his Maryland residence on Christmas Day.Ricky Carioti | The Washington Post | Getty ImagesSpecial Counsel...
Can you switch from fixed to floating interest rate when RBI cuts repo rate and vice-versa?, ET BFSI
The Reserve Bank of India (RBI) has issued a new circular on FAQs on 'Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans'. It states that regulated entities, such as banks, must provide the home loan borrower with the option of...
Gold trade bodies call for flexibility in monetisation scheme, ET BFSI
Indians have an estimated 22,000 tonnes of gold lying in their households, equivalent to what the country would have imported in 26 years to make jewellery, bars and coins. To unleash this idle gold and help reduce imports, gold trade bodies have written to the...
RBI stares at acute banking liquidity crunch as MIBOR breaches 7%, ET BFSI
India's interbank liquidity has tightened significantly, prompting calls for the Reserve Bank of India (RBI) to adopt proactive measures such as buy/sell swaps, OMO purchases, and potential CRR cuts to ease the crunch. With the Money Market Interbank Offer Rate...
Penalties surge as RBI cracks the whip on lenders, ET BFSI
Mumbai: Increasing enforcement of penalties by the Reserve Bank of India (RBI) last fiscal are reflected in the sharp jump on bank payments under such heads during the year.Reserve Bank of India (RBI) data in the annually published Trend and Progress of Banking in...
Fired Disney employee to plead guilty in peanut hacking case
File: Guests eat at Great Maple Restaurant at the Pixar Place Hotel at the Disneyland Resort in Anaheim, CA.Paul Bersebach | Medianews Group | Getty ImagesA former Disney employee agreed to plead guilty in a federal criminal case where he is accused of hacking into...
Trump Organization to limit president-elect’s involvement under new ethics plan
U.S. President-elect Donald Trump speaks after a meeting with Republicans in Congress at the U.S. Capitol building in Washington, U.S. Jan. 8, 2025. Jeenah Moon | ReutersThe Trump Organization on Friday unveiled a new ethics plan that it says will limit...
Trump seeks Putin meeting as Biden announces aid package to Kyiv
A souvenir shopkeeper displays Matryoshka dolls featuring Russian President Vladimir Putin and U.S. presidents, including Donald Trump.Misha Friedman | Getty Images News | Getty ImagesPresident-elect Donald Trump floated the possibility of a meeting with Kremlin...
Trump sentenced without penalty in New York hush money case
U.S. President-elect Donald Trump appears remotely for a sentencing hearing in front of New York State Judge Juan Merchan with his attorney Todd Blanche (L) at Manhattan Criminal Court on January 10, 2025 in New York City. Curtis Means | Getty ImagesPresident-elect...
Former WWE boss Vince McMahon resolves SEC charges over undisclosed settlements
TKO Executive Chairman of the Board Vince McMahon is seen during a ceremony announcing Dwayne "The Rock" Johnson has joined the Board of Directors for TKO at New York Stock Exchange on January 23, 2024 in New York City.Michelle Farsi | UFC | Getty ImagesThis is...
Judge scraps Biden’s Title IX rules, reversing expansion of protections for LGBTQ+ students
U.S. President Joe Biden delivers remarks during the Tribal Nations Summit at the Department of the Interior in Washington, D.C., U.S., December 9, 2024. Elizabeth Frantz | ReutersThe Biden administration's Title IX rules expanding protections for LGBTQ+ students have...
Venezuela opposition leader Machado freed, movement says
Venezuelan opposition leader Maria Corina Machado waves a national flag during a protest called by the opposition on the eve of the presidential inauguration, in Caracas on January 9, 2025. Juan Barreto | Afp | Getty ImagesVenezuela opposition leader Maria...
Supreme Court rejects Trump hush money sentencing delay bid
Former U.S. President Donald Trump, alongside his attorney Todd Blanche, speaks to the media as he arrives for his criminal trial for allegedly covering up hush money payments at Manhattan Criminal Court on May 30, 2024 in New York City.Michael M. Santiago | Via...
RBI likely to follow the path of shallow rate cut in Feb MPC meeting: Report, ET BFSI
New Delhi [India], January 10 (ANI): The Reserve Bank of India (RBI) may opt for shallow rate cuts in its upcoming Monetary Policy Committee (MPC) meeting in February 2025, says a report by Sharekhan, a capital markets company. This comes amidst a cautious global...
Photos show former President Jimmy Carter’s state funeral
A picture of U.S. President Jimmy Carter is seen as members of the public sign a condolence book in the U.S. Capitol Visitor Center on Jan. 8, 2025 in Washington, DC.Kevin Dietsch | Getty ImagesAmerican politicians, foreign dignitaries and family members honored...
Biden to deliver eulogy at Jimmy Carter’s state funeral
[The stream is slated to start at 9:30 a.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden will deliver a eulogy Thursday morning at the state funeral for former President Jimmy Carter.The speech at the Washington...
Lebanon’s army chief elected president, showing regional shifts
Lebanese lawmakers attend a parliamentary session to elect a president, in Beirut, on Jan. 9, 2025. Anwar Amro | Afp | Getty ImagesLebanon's parliament elected army chief Joseph Aoun head of state on Thursday, filling the vacant presidency with a general who enjoys...
Yakuza leader pleads guilty to trafficking nuclear materials in New York
Takeshi Ebisawa, a leader of the Japanese organized crime syndicate yakuza, in an undated photo. Ebisawa pleaded guilty on Jan. 8, 2025, in New York federal court to charges of trafficking nuclear materials and conspiracy to traffic narcotics and heavy weapons.NBC...
Will new RBI Governor change the central bank’s rupee management policy?, ET BFSI
India's new Reserve Bank of India (RBI) Governor, Sanjay Malhotra, faces a critical choice on managing the rupee's exchange rate: maintain the tightly controlled approach of his predecessor or adopt a more flexible stance as the dollar continues to strengthen.Under...
Man arrested at U.S. Capitol with machete as Jimmy Carter lies in state
A machete and three knives that U.S. Capitol Police say were confiscated from a man who was arrested at a Capitol screening checkpoint as former President Jimmy Carter lay in state in the Capitol Rotunda, Jan. 8, 2025.Source: The United States Capitol PolicePolice...
What Union Budget 2024 delivered, ET BFSI
Finance Minister Nirmala Sitharaman has already concluded the pre-budget consultation with about nine stakeholder groups, and the Union Budget 2025 is slated to be presented on February 1, also marking Sitharaman’s eighth budget. While this year's key announcements...
Biden cancels Italy trip due to California wildfires
US President Joe Biden arrives on the South Lawn of the White House as he returns to Washington, DC, from Camp David, on Jan. 2, 2025. Chris Kleponis | AFP | Getty ImagesU.S. President Joe Biden canceled an upcoming trip to Italy due to the wildfires in California,...
Tuhin Kanta Pandey appointed as Revenue Secretary; Arunish Chawla named as DIPAM Secretary, ET BFSI
Tuhin Kanta Pandey, currently Secretary of the Department of Investment and Public Asset Management (DIPAM), has been appointed as Secretary of the Department of Revenue, succeeding Shri Arunish Chawla, the Appointments Committee of the Cabinet (ACC) on Wednesday...
India’s new central bank chief seeks to improve forecasts, sources say, ET BFSI
By Siddhi Nayak and Swati BhatMUMBAI - India's new central bank governor Sanjay Malhotra has initiated a review of the Reserve Bank of India's inflation and growth forecasting tools to minimise projection errors, four sources said.Malhotra, who took charge last month,...
Musk is courting Germany’s far right. European leaders can’t do much about it
Elon Musk's plan to host a chat with the leader of the Alternative for Germany (AfD) party on his X social media platform has angered European politicians— but they'll struggle to stop him.The tech billionaire is set to speak on Thursday with Alice Weidel, head of the...
Covid stimulus may have contributed ‘a little bit’ to inflation
Treasury Secretary Janet Yellen speaking with CNBC's Sara Eisen (not shown) at the U.S Treasury Department on Jan. 8th, 2024.CNBCTreasury Secretary Janet Yellen said Wednesday that the stimulus spending signed into law by President Joe Biden to aid the U.S. recovery...
Finmin to hold meeting with MFI players on Wed, ET BFSI
Union Finance Minister, Nirmala SitharamanNew Delhi, Finance Ministry will hold a meeting with microfinance institutions (MFIs) on Wednesday amid rising bad loans and delinquencies across all types of lenders in the sector. According to sources, the Department of...
Trump won’t rule out using U.S. military to control Panama Canal, Greenland
U.S. President-elect Donald Trump makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025.Carlos Barria | ReutersPresident-elect Donald Trump on Tuesday declined to rule out using the U.S. military to take control of the Panama Canal and Greenland,...
RBI consolidates instructions on credit information of customers, ET BFSI
RBI consolidates instructions on credit information of customersThe RBI on Monday came out with a master direction consolidating various instructions issued to banks and other financial institutions on reporting of the credit information of their customers. As per the...
Trump threatens hell if Gaza hostages not released
U.S. President-elect Donald Trump gestures as he makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025.Carlos Barria | ReutersPresident-elect Donald Trump warned Tuesday that "all hell will break out in the Middle East" if Hamas does not release the...
RBI announces results of 3rd edition of Global Hackathon, ET BFSI
Mumbai, The Reserve Bank on Tuesday announced the names of the winners of the third edition of its Global Hackathon with the themes 'Zero Financial Frauds' and 'Being Divyang Friendly'. The hackathon received an enthusiastic response with 534 proposals, of which 39...
Trump loses bid to halt sentencing in hush money case
Former President Donald Trump arrives at Manhattan Criminal Court, Thursday, May 30, 2024, in New York.Seth Wenig | Via ReutersA New York appeals court judge on Tuesday rejected a request by President-elect Donald Trump to delay his criminal sentencing Friday for his...
Trump announces $20 billion foreign investment to build new data centers
U.S. President-elect Donald Trump makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025. Carlos Barria | ReutersPresident-elect Donald Trump on Tuesday announced a $20 billion foreign investment to build new data centers across the United...
FTC chair Lina Khan fears Trump deal for Amazon, Facebook
Federal Trade Commission Chair Lina Khan said Tuesday she hopes the incoming Trump administration will not let Amazon and Facebook parent Meta off the hook from pending antitrust lawsuits by her agency with a "sweetheart deal."But, "I can't predict what future people...
Pension oriented schemes among mutual funds’ 15-point suggestion to Finance Minister, ET BFSI
The Association of Mutual Funds in India (AMFI) has submitted a detailed 15-point proposal to the Union Ministry of Finance ahead of the Union Budget FY25-26. Key highlights include the restoration of long-term indexation benefits for debt schemes, adjustments to...
RBI consolidates instructions on credit information of customers, ET BFSI
RBI consolidates instructions on credit information of customersThe RBI on Monday came out with a master direction consolidating various instructions issued to banks and other financial institutions on reporting of the credit information of their customers. As per the...
Trump seeks to block New York hush money sentencing
Former U.S. President Donald Trump sits in the courtroom during his hush money trial at Manhattan criminal court on April 26, 2024 in New York City. Michael M. Santiago | Getty ImagesAttorneys for President-elect Donald Trump sought to block his scheduled sentencing...
Canada’s Prime Minister Justin Trudeau resigns as Liberal Party leader
Canada Prime Minister Justin Trudeau makes an announcement outside Rideau Cottage in Ottawa on Monday, Jan. 6, 2025.Adrian Wyld | The Canadian Press via APCanada's Justin Trudeau on Monday said he would step down from the helm of the ruling Liberal Party, but will...
Congress to certify Trump’s election win over Harris
FILE PHOTO: A mob of supporters of U.S. President Donald Trump fight with members of law enforcement at a door they broke open as they storm the U.S. Capitol Building in Washington, U.S., January 6, 2021.Leah Millis | ReutersCongress will convene Monday to certify...
Italy’s right-wing leader Meloni positions herself as Trump’s ally in Europe
U.S. President-elect Donald Trump meets with Italian Prime Minister Giorgia Meloni at Mar-a-Lago in Palm Beach, Florida, U.S. January 4, 2025. Italian Government | ReutersItalian Prime Minister Giorgia Meloni made a surprise visit to Mar-a-Lago on Sunday, meeting...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Looking for a rebound Traders work on the floor at the New York Stock Exchange on Dec. 10, 2024.Brendan McDermid | ReutersU.S. stock futures ticked higher Monday after a losing...
Elon Musk asks if US should ‘liberate Britain’
Tesla CEO Elon Musk, Co-Chair of the newly announced Department of Government Efficiency (DOGE), arrives on Capitol Hill on December 05, 2024 in Washington, DC. Anna Moneymaker | Getty ImagesElon Musk has questioned whether the United States should "liberate the...
Zelenskyy says Kyiv security guarantees will only work if the U.S. provides them
(COMBO) This combination of pictures created on November 07, 2024 shows Ukraine's president Volodymyr Zelensky (L) arrives to give a press conference on the sideline of a EU summit in Brussels, on October 17, 2024, and former US President and Republican presidential...
Experts eye fiscal consolidation, MSME credit reforms, ET BFSI
Finance Minister Nirmala Sitharaman will table the Union Budget 2025 on February 1 in the Lok Sabha. With India aspiring to achieve its Viksit Bharat 2047 vision and climb to the position of the third-largest global economy, unveiling of Budget 2025 precedes many...
Canada PM Trudeau is likely to announce resignation, Reuters reports
The Prime Minister of Canada, Justin Trudeau, walks through the streets of the capital before attending the APEC CEO Summit, a business event held in parallel with the APEC Summit, on November 15, 2024, in Lima, Peru. Klebher Vasquez | Anadolu | Getty ImagesCanadian...
Melania Trump movie by Amazon Prime planned
Former U.S. President and Republican presidential candidate Donald Trump and former first lady Melania Trump smile after speaking during an election night event at the West Palm Beach Convention Center in West Palm Beach, Florida, early on Nov. 6, 2024.Jim Watson |...
Jimmy Carter’s funeral begins by tracing 100 years from rural Georgia to the world stage
Former President Jimmy Carter interviewed for "The Presidents' Gatekeepers" project at the Carter Center, Atlanta, Georgia, September 14, 2011.David Hume Kennerly | Archive Photos | Getty ImagesJimmy Carter 's extended public farewell began Saturday in Georgia, with...
Washington Post cartoonist quits after drawing of Bezos, other billionaires with Trump rejected
Editorial cartoonist Ann TelnaesCourtesy of Ann TelnaesA Washington Post cartoonist has quit her role at the paper, saying that her bosses blocked publication of a satirical cartoon that depicted billionaires, including one resembling Post owner Jeff Bezos, kneeling...
RBI Bhubaneswar branch holds financial literacy programme for visually challenged persons, ET BFSI
Bhubaneswar, As part of its drive to create awareness on financial literacy among people, RBI's Bhubaneswar branch on Saturday organised a programme for visually challenged persons and distributed booklets translated into Braille script among the participants. The...
Hillary Clinton, George Soros and Denzel Washington will receive the highest U.S. civilian honor
US President Joe Biden and former secretary of state Hillary Clinton look on as former president Bill Clinton (not pictured) speaks during the Clinton Global Initiative annual meeting in New York on September 23, 2024. Andrew Caballero-Reynolds | AFP | Getty...
All you need to know, from expected tax reforms to fiscal measures, ET BFSI
Union Budget 2025With the economy facing challenges like a 5.4 per cent growth rate in Q2 FY25, the lowest in seven quarters and high inflation, the upcoming Union Budget 2025 will play a crucial role in steering India’s fiscal policy toward sustained growth. The...
RBI removes lending restrictions on microfinance company Arohan Financial Services, ET BFSI
Kolkata: The Reserve Bank of India has removed the lending restrictions on microfinance company Arohan Financial Services after it became satisfied with the company's revamped processes as well as its commitment to adhere to the regulatory guidelines.Arohan can resume...
RBI okays NCBL, Cosmos Co-operative bank merger, BFSI News, ET BFSI
The Reserve Bank of India (RBI) today approved the amalgamation of the National Co-operative Bank Ltd., Bangalore (Karnataka) with Cosmos Co-operative Bank Limited (Maharashtra). The scheme has been sanctioned in exercise of the powers conferred under Sub-Section (4)...
Trump hush money sentencing set for Jan. 10
Former U.S. President Donald Trump leaves the courthouse after a jury found him guilty of all 34 felony counts in his criminal trial at New York State Supreme Court in New York on May 30, 2024.Justin Lane | Via ReutersA judge on Friday rejected a request that he...
Trump touts Mike Johnson for House speaker
U.S. President-elect Donald Trump shakes hands with U.S. House Speaker Mike Johnson (R-LA) as he meets with House Republicans on Capitol Hill in Washington, U.S., November 13, 2024. Brian Snyder | ReutersPresident-elect Donald Trump again called on fellow Republicans...
