Politics
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
MUNICH, GERMANY - FEBRUARY 15: NATO Secretary-General Mark Rutte walks outside the main venue at the 61st Munich Security Conference on February 15, 2025 in Munich, Germany. International defence and security leaders from around the world are gathering for the...
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...
Trump says UK is making a very big mistake with North Sea windfall tax
The NKT Victoria cable laying ship operates off the coast of Marske by the Sea as it lays cable as part of the Sofia Offshore Wind Farm project on August 17, 2024 in Marske By The Sea, United Kingdom.Ian Forsyth | Getty Images News | Getty ImagesU.S. President-elect...
ETBFSI session to discuss financial sector expectations today, ET BFSI
Anticipation is building as Union Minister for Finance & Corporate Affairs Nirmala Sitharaman prepares to present the Union Budget 2025 on February 1. With inflation running high, growth projections slipping to as low as 5.4 per cent in Q2 of FY25, and...
Banking liquidity in deficit in December, RBI moves cap call rate, ET BFSI
The banking system liquidity slipped into deficit in December for the first time since June 2024 even as both tranches of the easing of cash reserve ratio (CRR) came into effect, infusing ₹1.16 lakh crore.Despite the deficit, the Reserve Bank of India has managed to...
RBI may reduce policy rates by 50 basis points in the first half of 2025: Jefferies, ET BFSI
New Delhi [India], January 3 (ANI): The Reserve Bank of India (RBI) is likely to cut policy rates by 50 basis points (bps) in the first half of 2025, says a report by Jefferies. This after the central bank eased its stance on liquidity and reduced the Cash Reserve...
How new RTGS, NEFT verification facility would help prevent cyber frauds, ET BFSI
The Reserve Bank of India (RBI) has introduced a new beneficiary bank account name look-up facility for the Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) systems, aimed at enhancing the security and accuracy of digital transactions....
South Korean guards prevent arrest of impeached Yoon Suk Yeol after stand-off
Around 30 supporters of impeached President Yoon Suk Yeol stage a sit-in protest in front of his official residence to block his arrest by the police in Seoul, South Korea, on January 2, 2025. A Seoul court issues a detention warrant for Yoon over his failed attempt...
When does a Central Bank succeed most in volatile, uncertain environments?, ET BFSI
RBI Governor Sanjay MalhotraVUCA, or volatility, uncertainty, complexity, and ambiguity, has been a global concern, according to the governor of the Reserve Bank of India (RBI). Many nations are experiencing economic recession, which has harmed the global economy and...
Chinese hack of U.S. Treasury breached sanctions office, Washington Post says
A view from the United States Department of the Treasury building in Washington DC, United States on December 30, 2024. The US Treasury Department was cyberattacked by a Chinese state-sponsored actor in early December. Celal Gunes | Anadolu | Getty ImagesChinese...
How Is the RBI intervening in the forex market to shore up the rupee?, ET BFSI
In recent months, the RBI has actively engaged in the forex market, using a combination of forward market positions and dollar sales to manage the rupee’s value. But with external pressures and a sharp depreciation in the final quarter of 2024, the effectiveness of...
Healthy growth set to return this fiscal; rate cut likely sooner, ET BFSI
New Delhi, India will have to navigate geopolitical headwinds, tame domestic inflation and nudge the private sector to further loosen their purse strings as the world's fastest-growing major economy seeks more purple patches in 2025, leaving behind September quarter...
Nippon Steel offers U.S. government veto power in bid for U.S. Steel approval, source tells Reuters
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 ImagesJapan's Nippon Steel has proposed giving the U.S. government veto power over any potential cuts to U.S. Steel's...
Trump says he will attend Jimmy Carter’s funeral
U.S. President-elect Donald Trump looks on during Turning Point USA's AmericaFest at the Phoenix Convention Center on December 22, 2024 in Phoenix, Arizona. Rebecca Noble | Getty ImagesPresident-elect Donald Trump said he would attend next week's state funeral for...
Economic revival or mirage? RBI Governor Malhotra makes growth predictions for first time, ET BFSI
India’s economic growth is poised for a revival in 2025, supported by strong consumer and business confidence, Reserve Bank of India (RBI) Governor Sanjay Malhotra stated in his first comments on the growth outlook since assuming office earlier this month.In the...
U.S. Treasury says its computers were hacked by a Chinese ‘threat actor’ in a ‘major incident’
The exterior of the U.S. Department of Treasury building is seen as they joined other government financial institutions to bail out Silicon Valley Bank's account holders after it collapsed on March 13, 2023 in Washington, DC.Chip Somodevilla | Getty ImagesThe U.S....
Stress may tell on lenders, pile on NPAs, erode buffers, ET BFSI
MUMBAI: The central bank’s Financial Stability Report projected that commercial banks could witness a rise in the share of bad loans and that their capital buffers may decline in extreme stress scenarios.It also voiced concerns over lingering microfinance and consumer...
Stress in microfinance sector doubles in April to September 2024: RBI, ET BFSI
Asset quality stress in the microfinance (MFI) sector has doubled in the April to September 2024 period, with loans due more than 31 to 180 days rising to 4.30% at the end of September 2024 versus 2.15% at the end of March 2024, the Financial Stability Report showed....
Madoff victim fund covers most of Ponzi scheme losses: DOJ
Financier Bernard Madoff leaves Manhattan Federal court March 10, 2009 in New York City. Madoff attended a hearing regarding the conflicting status of his legal representation in his multi-billion dollar fraud allegations.Chris Hondros | Getty ImagesThe 10th and final...
U.S. announces $5.9 billion in military and budget aid to Ukraine
President Joe Biden (R) shakes hands with Ukraine's President Volodymyr Zelensky (L) as they hold a bilateral meeting at the Intercontinental Hotel in Paris, on June 7, 2024. Biden announced $225 million in new aid for Ukraine during talks with Zelensky in Paris. Saul...
Trump loses appeal of E. Jean Carroll $5 million defamation verdict
Writer E. Jean Carroll arrives at the 2nd U.S. Circuit Court of Appeals, where former U.S. President Donald Trump will arrive to ask a federal appeals court to overturn a $5 million jury verdict finding him liable for sexually assaulting and defaming her, who accused...
Trump gives US House Speaker Johnson ‘complete and total endorsement’
U.S. Speaker of the House Mike Johnson shakes hands with U.S. President-elect Donald Trump onstage at a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill on November 13, 2024 in Washington, DC.Andrew Harnik | Getty ImagesU.S. President-elect...
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. Taking stockThe final two days of the trading year will help to determine just how strong 2024 is for stocks. U.S. futures traded lower Monday following a losing session for the...
Consumer, business confidence to remain high in 2025, investment scenario brighter: RBI Guv, ET BFSI
Reserve Bank of India (RBI) Governor, Sanjay Malhotra, in the foreword of the December 2024 edition of RBI’s Financial Stability Report said the prospects of the Indian economy are expected to improve following the recent slowdown in gross domestic product (GDP)...
‘I could have wiped Iran off the map’
Quotations by former President Jimmy CarterFormer President Jimmy Carter, March 25, 2014.Getty Images"My name is Jimmy Carter, and I'm running for president." — Opening his acceptance speech at the Democratic National Convention, July 15, 1976."I've looked on a lot of...
RBI Innovation Hub pilots digital unsecured loans for gig workers, ET BFSI
The Reserve Bank of India Innovation Hub (RBIH) has onboarded digital lender Vivifi Finance to run a pilot project to offer unsecured loans to gig workers, two people with the knowledge said.The pilot that was launched a fortnight ago is aimed at creating a digital...
Jimmy Carter dies at age 100
Former U.S. President Jimmy Carter holds up his Nobel Peace Prize Dec. 10, 2002, in Oslo, Norway. During his acceptance speech, Carter urged others to work for peace.Arne Knudsen | Getty Images News | Getty ImagesJimmy Carter, the Georgia peanut farmer who became a...
Boosted by domestic consumption, India’s economy to achieve up to 7.3% growth in FY2026: Deloitte, ET BFSI
Earlier this month, the Reserve Bank of India cut its growth forecast for the current fiscal to 6.6% from 7.2% projected in June.NEW DELHI: The Indian economy is likely to grow at 6.5-6.8% this fiscal and slightly higher between 6.7-7.3% in FY2026, boosted by domestic...
Easing liquidity, holding rates and why the move was right, ET BFSI
A rate cut of 50 bps is expected in February 2025 to spur the growth.The Reserve Bank of India (RBI) took a significant step on December 6, 2024, by reducing the Cash Reserve Ratio (CRR) from 4.5% to 4%. This move, after a series of ten consecutive status quo...
World leaders react to former U.S. President Jimmy Carter’s death
Then U.S. President Jimmy Carter speaking at a press conference on Sept. 1, 1977.Wally McNamee | Corbis Historical | Getty ImagesWorld leaders and U.S. politicians reacted to news that former U.S. President Jimmy Carter, who as president brokered peace between Israel...
US to send $1.25 billion in weapons to Ukraine before Biden leaves office
WASHINGTON (AP) — The United States is expected to announce that it will send $1.25 billion in military assistance to Ukraine, U.S. officials said Friday, as the Biden administration pushes to get as much aid to Kyiv as possible before leaving office on Jan. 20.The...
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. Green ChristmasA Christmas tree stands in front of the New York Stock Exchange (NYSE), on the day U.S. President-elect Donald Trump is expected to ring the opening bell at NYSE to...
German president dissolves parliament for Feb. 23 snap elections
Members of the Bundestag debate before passing a resolution on Nov. 30, 2022 in Berlin, Germany. Sean Gallup | Getty Images News | Getty ImagesPresident Frank-Walter Steinmeier on Friday dissolved Germany's lower house of parliament to pave the way for snap elections...
RBI to banks, NBFCs, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India (RBI) will impose more regulatory curbs on unsecured lending if banks and finance companies do not mend their ways, it said in the Trends and Progress of Banking report published Thursday. The banking regulator also directed boards of...
India’s former PM Manmohan Singh dies aged 92
Indian Prime Minister Manmohan Singh makes a statement to the media after he was shouted down by opposition politicians in the lower house of Parliament, in New Delhi, India, Monday, Aug. 27, 2012. Singh took to Twitter on Monday to defend himself against a coal...
WT-ECIB scheme likely to benefit 1,000 new small exporters: Commerce ministry, ET BFSI
New Delhi, The ECGC is aiming to reduce the export credit gap through the WT-ECIB scheme, which is expected to benefit about 1,000 new small exporters, in addition to the existing 8,000-odd by facilitating the availability of adequate and affordable export finance...
RBI sets up 8-member committee to recommend framework for ethical AI in financial sector, ET BFSI
New Delhi [India], December 26 (ANI): Reserve Bank of India has set up an eight-member committee, comprising experts from diverse fields, to recommend a Framework for Responsible and Ethical Enablement of AI (FREE-AI) in the financial sector.The committee will submit...
Nirmala Sitharaman holds pre-budget meeting with trade experts, stakeholders, ET BFSI
India Budget: Union Finance Minister Nirmala Sitharaman chaired the fourth Pre-Budget Consultation meeting on Thursday with stakeholders and experts from the export, trade, and industry sectors in preparation for the Union Budget 2025-26.The Ministry of Finance, in a...
RBI spent $44.5 billion to defend rupee in October, BFSI News, ET BFSI
The Reserve Bank of India's (RBI) combined intervention in forward and spot currency markets was worth $44.5 billion in October to support the rupee from weakening, the latest central bank data contained in its monthly bulletin showed.While spot sales amounted to $9.3...
RBI spent $44.5 billion to defend rupee in October, BFSI News, ET BFSI
The Reserve Bank of India's (RBI) combined intervention in forward and spot currency markets was worth $44.5 billion in October to support the rupee from weakening, the latest central bank data contained in its monthly bulletin showed.While spot sales amounted to $9.3...
Govt aims to improve quality spending, cut fiscal deficit to 4.5 pc in FY26: Finmin report, ET BFSI
The government will continue its focus on improving quality spending, strengthening the social security net and bringing down the fiscal deficit to 4.5 per cent of the GDP in FY26, a finance ministry document said. Finance Minister Nirmala Sitharaman is scheduled to...
Why business leaders are spending big
Republican presidential nominee, former U.S. President Donald Trump arrives to speak during an election night event at the Palm Beach Convention Center on November 06, 2024 in West Palm Beach, Florida.Chip Somodevilla | Getty ImagesTop CEOs and their companies are...
Rising freebies, discom debt pushing states towards fiscal strain: RBI, ET BFSI
The Reserve Bank of India's (RBI) annual study of state finances flags increasing fiscal risks from rising subsidies and freebie announcements, coupled with mounting debt of state-run power distribution companies (discoms). These trends threaten fiscal consolidation...
Expected decline in food prices in January could increase odds of rate cut in Feb: ICICI Bank, ET BFSI
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) could consider a rate cut in February if food inflation declines in January, according to a report by ICICI Bank.The report emphasized that a deceleration in food prices may strengthen the case for...
Ford donates $1 million and fleet of vehicles to Trump’s inauguration
Ford CEO Jim Farley poses for a photo before announcing at a press conference that Ford Motor Company will be partnering with the world's largest battery company, China-based Contemporary Amperex Technology, to create an electric vehicle battery plant in Marshall,...
Matt Gaetz sex, drug report released by House Ethics Committee
U.S. Representative Matt Gaetz (R-FL) listens to testimony during a U.S. House Judiciary Committee hearing entitled "Undue Influence: Operation Higher Court and Politicking at SCOTUS", looking into allegations that the former anti-abortion leader Rev. Robert Schenck...
RBI denies banks extra time to label dodgy borrowers as willful defaulters, ET BFSI
Mumbai: The Reserve Bank of India (RBI) has turned down banks' plea for more time to brand a dodgy borrower as 'wilful defaulter' - a client who diverts borrowed funds or refuses to repay loans despite having the wherewithal to do so.About a fortnight ago, the...
RBI rate cuts may be delayed on US Fed action, rupee pressure, ET BFSI
Reserve Bank of IndiaThe Reserve Bank of India (RBI) may delay its anticipated rate cuts, as pressure on the Indian rupee and rising foreign exchange (FX) intervention costs weigh on monetary policy decisions. Following recent moves by the US Federal Reserve, which...
Why Europe’s trade deal with South America is so controversial
Ursula von der Leyen, president of the European Commission, during a news conference at the Mercosur Leaders Summit in Montevideo, Uruguay, on Friday, Dec. 6, 2024.Bloomberg | Bloomberg | Getty ImagesThe European Union's blockbuster trade deal with South America's...
Trump says Putin wants a meeting as soon as possible about Ukraine war
U.S. President-elect Donald Trump delivers remarks at Mar-a-Lago in Palm Beach, Florida, U.S., December 16, 2024.Brian Snyder | ReutersPresident-elect Donald Trump said Sunday Russian President Vladimir Putin has expressed his interest in a meeting regarding the war...
The fallout from the funding debacle
U.S. President-elect Donald Trump and Elon Musk watch the launch of the sixth test flight of the SpaceX Starship rocket in Brownsville, Texas, on Nov. 19, 2024.Brandon Bell | Via ReutersAs Congress regroups following another averted government shutdown, Democratic...
Weakened Iran could pursue nuclear weapon, White House’s Sullivan says
U.S. National Security Advisor, Jake Sullivan speaks during a press conference in Tel Aviv, Israel, 12 December 2024. Abir Sultan | Via ReutersThe Biden administration is concerned that a weakened Iran could decide to build a nuclear weapon, White House National...
Trump taps ex-Treasury official Miran as chair of Council of Economic Advisers
Stephen Miran, who was an adviser for economic policy at the U.S. Treasury Department when Donald Trump was last in office, has been tapped by the president-elect as the chair of his Council of Economic Advisers, Trump said on Sunday.The White House Council of...
Trump says he might demand Panama hand over canal
A cargo ship leaves the Panama Canal in Panama City on June 17, 2024.Martin Bernetti | APF | Getty ImagesPresident-elect Donald Trump on Saturday accused Panama of charging excessive rates for use of the Panama Canal and said that if Panama did not manage the canal in...
Senate review of Supreme Court ethics urges enforceable conduct code
A nearly two-year investigation by Democratic senators of Supreme Court ethics details more luxury travel by Justice Clarence Thomas and urges Congress to establish a way to enforce a new code of conduct.Any movement on the issue appears unlikely as Republicans...
Trump taps ‘Apprentice’ producer, Mark Burnett, as special envoy to the United Kingdom
Mark Burnett, the power producer who helped reintroduce Donald Trump to a national television audience with "The Apprentice," is being tapped by the president-elect as special envoy to the United Kingdom in his upcoming administration."With a distinguished career in...
Unregulated loan app operators in India may face 10 year jail, Rs 50 crore fines, ET BFSI
The central government has unveiled a draft bill aimed at tackling unregulated lending activities, with provisions that could impose penalties of up to Rs 50 crore and prison sentences of up to 10 years for violators. The proposed legislation, titled the Banning of...
Government shutdown averted after Senate passes House funding bill
WASHINGTON — The U.S. Senate approved a bipartisan federal spending bill early Saturday morning that averted a government shutdown and marked the end of a chaotic, high-stakes week in Congress. The bill authorizes continued funding of the federal government at...
RBI fined IndusInd Bk, & Manappuram Fin, BFSI News, ET BFSI
RBI fined IndusInd Bank and Manappuram Finance Rs 27 lakh and Rs 20 lakh, respectively. IndusInd Bank was penalised for non-compliance with norms related to 'interest rate on deposits'. Manappuram Finance was fined over KYC .agencies Published On Dec 21, 2024 at 09:07...
RBI may delay rate cut to April next year amid Fed’s hawkish stance, says Yes Bank report, ET BFSI
The Reserve Bank of India (RBI) may postpone the beginning of its rate cut cycle to April 2025 because of the Federal Reserve's shift towards a more hawkish monetary stance, said a report by Yes Bank."Given INR weakness and developing volatility in financial markets,...
RBI board reviews global, domestic economic situation, ET BFSI
Guwahati, The central board of the Reserve Bank of India (RBI) on Friday reviewed the global and domestic economic situation and outlook at a meeting chaired by new Governor Sanjay Malhotra. The 612th meeting of the Central Board of Directors of the RBI also placed on...
Centre proposes to curb unregulated lending with BULA Bill, BFSI News, ET BFSI
BULA Bill defines Unregulated Lending activities that cover practices including digital lending, that are not governed by existing financial regulations or laws.The Department of Financial Services on Thursday introduced the draft Banning of Unregulated Lending...
Trump-backed bill to avert government shutdown fails
WASHINGTON — A House Republican bill to fund the government for three months and suspend the debt ceiling for two years failed Thursday night, as dozens of rank-and-file Republicans voted against the deal endorsed by President-elect Donald Trump.Without a deal to fund...
Draft bill proposes prison terms, fines up to ₹1 crore for illegal lending via loan apps, ET BFSI
The government has also proposed an online database that would list regulated lenders and facilitate reporting of illegal lenders.NEW DELHI (Reuters) - The Indian government is seeking to clamp down on unregulated lending with a proposed law that would impose prison...
Trump transfers DJT shares to revocable trust: SEC filings
Aytac Unal/ | Anadolu | Getty ImagesPresident-elect Donald Trump this week transferred his entire stake of shares in Trump Media to a revocable trust of which he is the sole beneficiary, regulatory filings revealed Thursday evening.Trump did not receive any money for...
Trump says European Union must buy U.S. oil and gas in trade ultimatum
U.S. President-elect Donald Trump delivers remarks at Mar-a-Lago in Palm Beach, Florida, U.S., December 16, 2024.Brian Snyder | ReutersU.S. President-elect Donald Trump on Friday said he told the European Union it must reduce its trade gap with the U.S. through oil...
RBI’s crypto stance in focus after bitcoin hits $1,00,000, ET BFSI
The Reserve Bank of India's (RBI) stance on cryptocurrencies will be keenly watched after the surge in bitcoin value with the election of Donald Trump as US President and arrival of a new governor at the central bank.The RBI under former governor Shaktikanta Das had...
Father, son plead guilty in $100 million New Jersey deli stock scheme
Peter Coker Sr. and his wife Susan Coker at U.S. District Court in Newark, New Jersey, March 15, 2023.Dan Mangan | CNBCA father and son pleaded guilty Thursday to orchestrating a brazen stock manipulation scheme involving a small New Jersey deli whose parent company...
Drone flights are temporarily banned over some areas of New Jersey
A drone or SUAV, Small Unmanned Aerial Vehicle.Richard Newstead | Moment | Getty ImagesThe Federal Aviation Administration on Wednesday temporarily banned drone flights over 22 areas across New Jersey amid complaints of strange and often bright drones in the night...
Trump could spare Biden’s energy credits and still defeat IRA
U.S. President-elect Donald Trump smiles at the crowd during the National Guard Association of the United States' 146th General Conference & Exhibition at Huntington Place Convention Center on Aug. 26, 2024 in Detroit, Michigan.Emily Elconin | Getty Images News |...
House Republicans need Trump’s support to avoid government shutdown
U.S. Speaker of the House Mike Johnson (R-LA), and U.S. Senate Majority Leader Chuck Schumer (D-NY) listen during a Hanukkah reception at the U.S. Capitol Building on December 17, 2024 in Washington, DC. Anna Moneymaker | Getty ImagesWASHINGTON — House Republican...
Luigi Mangione agrees to extradition in UnitedHealthcare CEO murder
Luigi Mangione, 26, a suspect in the New York City killing of UnitedHealth executive Brian Thompson, is escorted after an extradition hearing at Blair County Court House in Hollidaysburg, Pennsylvania, U.S. December 10, 2024. Eduardo Munoz | ReutersLuigi Mangione has...
Trump Georgia election case DA Fani Willis disqualified but indictment stands
Fulton County District Attorney Fani Willis looks on during a hearing in the case of the State of Georgia v. Donald John Trump at the Fulton County Courthouse on March 1, 2024, in Atlanta, Georgia.Alex Slitz-Pool | Getty Images News | Getty ImagesA Georgia appeals...
RBI flags rising subsidies by states as incipient stress, BFSI News, ET BFSI
New Delhi [India], December 19 (ANI): The Reserve Bank of India (RBI) on Thursday termed increasing spending by states on subsidies as an "incipient stress" and called for rationalisation of such outgoes.The central bank in a report 'State Finances: A Study of Budgets...
Indian states must set glide path for fiscal consolidation, says central bank report, ET BFSI
MUMBAI - Indian state governments must have clear and time-bound glide paths for fiscal consolidation with transparent and uniform reporting of liabilities, given the elevated debt levels, the Reserve Bank of India (RBI) said in a report on Thursday.States should also...
Fintechs seek RBI nod for credit line on UPI platform, BFSI News, ET BFSI
Non-banking finance companies (NBFCs) operating in the digital lending space have sought the Reserve Bank of India's permission to offer pre-approved credit on the United Payments Interface (UPI) platform, a product the central bank opened for small finance banks...
US Federal Reserve cuts key interest rates by 0.25%, BFSI News, ET BFSI
The US Federal Reserve has slashed interest rates by 0.25% on Wednesday, cutting the rates for the third time in a row, sidestepping concerns over inflation's downward path and the potential impact of Donald Trump's policy decisions.The Fed has lowered the federal...
Fed Chair Jerome Powell, ET BFSI
US Federal Reserve Chair Jerome Powell highlighted a cautious outlook after the central bank cut key interest rates by 0.25% to 4.25% to 4.5%. Inflation has eased but remains slightly elevated, he said, with projections of 2.4% for this year and 2.5% for 2025. Powell...
RBI may face tougher path in Feb rate cut as Fed reshaped global monetary policy expectations: Report, ET BFSI
The Reserve Bank of India (RBI) may face a tougher path for cutting interest rates in February, according to a report by Angel One's Ionic Wealth. The report attributed this to a shift in the U.S. Federal Reserve's stance on rate cuts, which has reshaped global...
UBS, BFSI News, ET BFSI
New Delhi [India], December 19 (ANI): The Federal Reserve's next steps on interest rates will be guided by economic data, according to a report by UBS. While the major global markets reacted negatively to the change in rate cut cycles by Fed for next year the report...
Trump joins Elon Musk in opposing House GOP’s government funding bill
President-elect Donald Trump on Wednesday came out against a Republican-backed government funding bill, siding with Elon Musk's crusade against the package and raising the odds of a government shutdown.Trump is opposed to the continuing resolution put forward by...
House Ethics Committee expected to release Matt Gaetz report
Rep. Matt Gaetz, R-Fla., talks with a staffer before the start of the House Armed Services Committee hearing on "An Update on Afghanistan in Washington on Wednesday, May 12, 2021.Caroline Brehman | CQ-Roll Call, Inc. | Getty ImagesThe House Ethics Committee secretly...
TikTok ban case to be heard by Supreme Court
The Supreme Court on Wednesday agreed to hear arguments by TikTok that a law that could lead to a ban of the popular social media app violates free speech protections in the U.S. Constitution.The Supreme Court scheduled oral arguments in the case for Jan. 10, nine...
M Rajeshwar Rao, Dy Governor RBI, ET BFSI
New Delhi [India], December 18 (ANI): M Rajeshwar Rao, Deputy Governor of the Reserve Bank of India (RBI), highlighted the importance of institutionalising data under the Insolvency and Bankruptcy Code (IBC) to provide valuable insights and precedents for handling...
How RBI maneuvered its policy in 2024, BFSI News, ET BFSI
At 6.5%, the benchmark interest rate today is exactly where it was when former Reserve Bank of India governor Shaktikanta Das took charge in late 2018, and the year 2024 has intensified the debate over whether the central bank should maintain this rate — a level it...
Warren says Trump needs to hold Elon Musk to ethics standards
U.S. President-elect Donald Trump walks with Elon Musk before attending a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, U.S., November 19, 2024. Brandon Bell | Via ReutersSenator Elizabeth Warren has asked Donald...
RBI lifts restrictions on two Edelweiss Group cos, BFSI News, ET BFSI
Reserve Bank of India (RBI) has lifted the business restrictions on Edelweiss Group's NBFCs, ECL Finance and Edelweiss Asset Reconstruction Co (ARC) after being satisfied with the remedial measures put by both companies.“Having satisfied itself based on submissions...
RBI Deputy Governor, ET BFSI
The "buy now, pay later" (BNPL) schemes and the credit card spending facilitate immediate consumption and reduce the savings of the younger generations, said Michael Debabrata Patra, Deputy Governor, Reserve Bank of India.He also noted that these trends facilitate...
Luigi Mangione indicted in UnitedHealthcare CEO murder
Luigi Mangione, 26, a suspect in the New York City killing of UnitedHealth executive Brian Thompson, is escorted after an extradition hearing at Blair County Court House in Hollidaysburg, Pennsylvania, on Dec. 10, 2024.Eduardo Munoz | ReutersA New York grand jury...
How is the Union Budget prepared? Here are its key components and the process, ET BFSI
Finance Minister Nirmala Sitharaman is likely to present the annual budget 2025, her eighth consecutive Union Budget, on February 1.The annual budget details the planned expenditures and revenues for the fiscal year, which runs from April 1 to March 31. Expenditures...
Trump attorney alleges ‘grave juror misconduct’ in hush money trial
Former U.S. President Donald Trump, with attorney Todd Blanche, speaks to reporters as jurors are released to begin deliberations for his criminal trial at the Manhattan Criminal Court in New York, NY on Wednesday, May 29, 2024.Jabin Botsford | ReutersAttorneys for...
Enforcement Directorate recovers Rs 22,280 crore in assets from major economic offenders, including Vijay Mallya and Nirav Modi: Finance Minister, ET BFSI
On Tuesday, Finance Minister Nirmala Sitharaman informed the Lok Sabha about the Enforcement Directorate's (ED) substantial progress in recovering assets worth Rs 22,280 crore from various economic offenders. This amount includes over Rs 14,000 crore that was returned...
Biden’s DOJ antitrust head to step down, Reuters reports
US Assistant Attorney General Jonathan Kanter, with Attorney General Merrick Garland (L), speaks during a press conference announcing an antitrust lawsuit against Apple, at the Justice Department in Washington, DC, on March 21, 2024. Mandel Ngan | AFP | Getty...
Trump trade aide Peter Navarro denies tariff plans will spur inflation
Former director of the US Office of Trade and Manufacturing Policy Peter Navarro speaks on stage with his "Wife Bonnie" on the third day of the Republican National Convention at the Fiserv Forum on July 17, 2024 in Milwaukee, Wisconsin. Chip Somodevilla | Getty...
FTC bans hidden junk fees in hotel, event ticket prices
U.S. President Joe Biden delivers remarks on protecting consumers from hidden junk fees during an event at the South Court Auditorium at Eisenhower Executive Office Building on June 15, 2023 in Washington, DC.Alex Wong | Getty ImagesThe U.S. Federal Trade Commission...
Ukraine kills top Russian general in Moscow it accuses of chemical weapons crimes
Igor Kirillov, head of the Russian Defense Ministry's radiological, biological and chemical protection unit, speaks at a briefing over an alleged chemical attack on the Syrian city of Douma, at the Patriot park in the Moscow region on June 22, 2018. Afptv | Afp |...
Govt to push for green energy financing; MNRE minister to meet bank CEOs in January, ET BFSI
New Delhi: Union minister for new and renewable energy Pralhad Joshi on Tuesday said he would meet bank chairpersons and managing directors in January to discuss increasing financing for renewable energy projects. Industry stakeholders will also be part of the...
What are the key challenges before RBI in 2025?, ET BFSI
RBI Governor Sanjay MalhotraAs Sanjay Malhotra takes over as the 26th Governor of the Reserve Bank of India (RBI), the central bank faces a slew of critical tasks aimed at navigating an evolving economic landscape. From sustaining economic growth to enhancing...
Trump meets TikTok CEO, Supreme Court asked to block app ban
An advocate holds a sign for TikTok following a news conference outside the US Capitol in Washington, DC, US, on Tuesday, March 12, 2024.Graeme Sloan | Bloomberg | Getty ImagesTikTok on Monday asked the Supreme Court to block a law that could effectively ban the...
RBI Guv Sanjay Malhotra exhorts staff to strive for perfection; support realisation of Viksit Bharat vision, ET BFSI
Reserve Bank Governor Sanjay Malhotra on Monday exhorted colleagues to "strive for perfection" and support the realisation of the Viksit Bharat vision. The career bureaucrat appointed to lead the central bank "reassured" staffers that the RBI, an "august institution",...
Trump loses bid to toss New York hush money conviction
Former US 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, New York, USA, 30 May 2024. Trump faced 34 felony counts of falsifying business records...
RBI Guv Sanjay Malhotra exhorts staff to strive for perfection; support realisation of Viksit Bharat vision, ET BFSI
Reserve Bank Governor Sanjay Malhotra on Monday exhorted colleagues to "strive for perfection" and support the realisation of the Viksit Bharat vision. The career bureaucrat appointed to lead the central bank "reassured" staffers that the RBI, an "august institution",...
Government has taken many steps during the year to boost trade: Finance Ministry, ET BFSI
New Delhi [India], December 17 (ANI): A day after the commerce ministry released trade data for November showing the highest-ever trade deficit of USD 37.8 billion. The Ministry of Finance highlighted the various initiatives taken by the ministry this year to boost...
Trump picks China critic Glass as Japan envoy
American and Japan flags waving against the sky.Adventtr | Istock | Getty ImagesU.S. President-elect Donald Trump said on Monday he was picking George Glass, a former investment banker and diplomat notable for his criticisms of China, to serve as his ambassador to...
Canada finance minister quits after clash with Trudeau, deals blow to government
Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland, and Canada's Prime Minister Justin Trudeau speak at a news conference in Ottawa, Ontario, Canada, October 6, 2021.Patrick Doyle | ReutersCanada's Finance Minister Chrystia Freeland quit on...
Trump considers pardoning NYC Mayor Eric Adams
Mayor Eric Adams speaks to the press during the weekly briefing at the City Hall about the ongoing programs in New York City. Lev Radin | Lightrocket | Getty ImagesPresident-elect Donald Trump said Monday that he would "certainly look at" issuing a pardon for New York...
Trump transition team plans sweeping rollback of Biden EV, emissions policies
A Chevrolet Bolt EV sits parked at a charging station at Stewart Chevrolet on April 25, 2023 in Colma, California. Justin Sullivan | Getty Images News | Getty ImagesIncoming U.S. President Donald Trump's transition team is recommending sweeping changes to cut off...
German Chancellor Olaf Scholz loses confidence vote
German Chancellor Olaf Scholz will undergo a vote of confidence in Parliament on Monday, December 16.Michael Kappeler | Picture Alliance | Getty ImagesGerman Chancellor Olaf Scholz on Monday lost a confidence vote in the country's Bundestag, clearing the path for an...
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. Dull DecemberStocks enter the final full trading week of 2024 coming off a tough stretch. The Dow Jones Industrial Average has lost ground for seven straight sessions, and fell...
RPT-Domestic, global headwinds challenge Indian central bank’s fx intervention, ET BFSI
(Repeats story published on Dec. 13; no changes to text)By Nimesh Vora and Jaspreet KalraMUMBAI, - The Reserve Bank of India's efforts to slow the rupee's decline have been relentless but its already-stretched strategy is now challenged by weak economic growth, tepid...
Will RBI cut rates in February after inflation eases in November?, ET BFSI
India’s retail inflation eased to 5.5% year-on-year in November, down from 6.2% in October, bringing much-needed relief to policymakers. Food inflation also moderated from 10.9% to 9% during the same period. The decline in prices, particularly on a month-on-month...
DBT through Public Financial Management System supports Digital India: Finance Ministry, ET BFSI
DBT through Public Financial Management System supports Digital India: Finance MinistryNew Delhi [India], December 15 (ANI): The Department of Expenditure has been consistently improving direct benefit transfer (DBT) linkages between beneficiaries and onboarding with...
Rs 71,889 crore released to states under various heads for FY25 till now: Centre, ET BFSI
New Delhi, The government on Sunday said that based on the recommendations of 15th Finance Commission (XV-FC), Rs 71,889 crore has been released to the states under various heads for FY 2024-25.New Delhi, Dec 15 (IANS) The government on Sunday said that based on the...
South Korea’s acting president moves to calm markets after Yoon impeachment
A protester holding a cardboard reading "Leader of insurgents" on an image depicting the face of South Korea's President Yoon Suk Yeol takes part in a protest calling for his ouster outside the National Assembly in Seoul on December 8, 2024. Philip Fong | Afp | Getty...
ABC agrees to give $15 million to Donald Trump’s presidential library to settle defamation lawsuit
ABC News Anchor George StephanopoulosPaula Lobo | ABC | Getty ImagesABC News has agreed to pay $15 million toward Donald Trump's presidential library to settle a lawsuit over anchor George Stephanopoulos' inaccurate on-air assertion that the president-elect had been...
Many New Jersey drones sightings are ‘manned aircraft being misidentified as drones,’ FBI says
A drone or SUAV, Small Unmanned Aerial Vehicle.Richard Newstead | Moment | Getty ImagesThe FBI and Department of Homeland Security said on Saturday that ongoing investigations around reported drone sightings over New Jersey have found "many of the reported drone...
Iran will not impede IAEA access, head of its atomic organization says
The flag of Iran is seen in front of the building of the International Atomic Energy Agency (IAEA) Headquarters on May 24, 2021 in Vienna, Austria.Michael Gruber | Getty Images News | Getty ImagesIran will not impede U.N. nuclear watchdog's access and inspection of...
Bank of America, Goldman to donate to Trump’s inaugural committee
A man walks by the Bank of America headquarters in New York on July 18, 2023.Eduardo Munoz | View Press | Getty ImagesBank of America, the second-largest U.S. lender, and investment bank Goldman Sachs plan to contribute to President-elect Donald Trump's inaugural...
South Korea’s President Yoon impeached after failed attempt to impose martial law
A screens shows footage of South Korean President Yoon Suk Yeol delivering an address to the nation at Seoul station on Dec. 7, 2024 in Seoul, South Korea.Chung Sung-jun | Getty Images News | Getty ImagesSouth Korea's President Yoon Suk Yeol was impeached on Saturday...
Nancy Pelosi hospitalized after injury in Luxembourg
Nancy Pelosi delivers remarks at the Anti-Corruption Champions Award Ceremony at the Department of State in Washington D.C, United States on December 9, 2024.Celal Gunes | Anadolu | Getty ImagesFormer House Speaker Nancy Pelosi was hospitalized after being injured...
Trump transition wants to scrap crash reporting requirement opposed by Tesla: Reuters
The remains of a Tesla vehicle are seen after it crashed in The Woodlands, Texas, April 17, 2021, in this still image from video obtained via social media. Video taken April 17, 2021. Scott J. Engle | Via ReutersThe Trump transition team wants the incoming...
If Ukraine fails against Russia, war will come to Europe: Dmytro Kuleba
Former Ukrainian Foreign Minister Dmytro Kuleba warned of the potential repercussions for the European Union if Ukraine does not prevail in its fight against Russia, telling CNBC that "if Ukraine fails, war will come to the streets of European cities.""Putin today has...
McKinsey & Co. to pay $650 million to settle opioid probe
The McKinsey & Company logo is displayed at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 21, 2023. Benoit Tessier | ReutersMcKinsey & Co. agreed to pay $650 million in a deferred prosecution agreement that will resolve a...
North Koreans charged in $88 million identity theft, extortion case
DPRK IT workers FBI wanted poster.Source: FBIThe Department of Justice accused 14 North Korean nationals of conspiring to use false identities to get IT jobs with U.S. companies and siphon money back to their home country, in violation of U.S. sanctions.The...
New Jersey drones are not national security threat, FBI says
Unidentified drone in New Jersey.Source: MSNBCThe FBI and Department of Homeland Security said Thursday that they had seen "no evidence" that mysterious drone sightings over New Jersey and adjacent areas in recent weeks "pose a national security or public safety...
SEC charges Cantor Fitzgerald, led by Trump’s Commerce pick
Howard Lutnick, chairman and CEO of BGC Partners Inc., speaks during the Piper Sandler Global Exchange and FinTech Conference in New York City, U.S., June 8, 2022. Brendan McDermid | ReutersWASHINGTON — The Securities and Exchange Commission on Thursday charged global...
Reserve Bank of India receives bomb threat, probe underway, BFSI News, ET BFSI
Mumbai (Maharashtra) [India], December 13 (ANI): The Reserve Bank of India (RBI) in Mumbai received a bomb threat email on Friday, police said. Police have registered a case against an unknown accused in connection with the bomb threat and started an investigation. "A...
Europe can make up the Ukraine funding shortfall if the U.S. withdraws, analysts say
The first General Dynamics F-16 Fighting Falcons received by Ukraine fly on the Day of Ukrainian Air Force on August 4, 2024 in Unspecified, Ukraine. At the event for the Day of Ukrainian Air Force with the participation of President of Ukraine Volodymyr Zelenskyi,...
RBI wary of fintech cos’ vehicle loan drive, ET BFSI
The MFI and fintech industry have been grappling with the issue of customers having more than four loans with a total outstanding of more than INR 2 lakh.The proliferation of fintech players in the light commercial vehicles and two-wheelers financing space has caught...
Top U.S. liquor distributor favored Costco, Kroger, other chains over small businesses: FTC
Cases of Beam Suntory Inc. Jim Beam brand bourbon sit stacked in the warehouse at Southern Glazer's Wine and Spirits LLC distribution center in Louisville, Kentucky, U.S., on Friday, Sept. 28, 2018. Luke Sharrett | Bloomberg | Getty ImagesThe Federal Trade Commission...
Watch full video of Donald Trump talking with Jim Cramer at the NYSE
After President-elect Donald Trump rang the opening bell at the New York Stock Exchange on Thursday morning, he spoke to CNBC's Jim Cramer from the trading floor about his plan for boosting the American economy.Trump refrained from making any stock market predictions,...
Meta donates $1 million to Trump’s inaugural fund: Reuters
Meta CEO Mark Zuckerberg makes a keynote speech during the Meta Connect annual event, at the company's headquarters in Menlo Park, California, U.S. September 25, 2024. Manuel Orbegozo | ReutersMeta Platforms has donated $1 million to President-elect Donald Trump's...
Trump rings bell at NYSE to cheers of ‘USA’ as Wall Street CEOs, business leaders look on
President-elect Donald Trump rang the opening bell at the New York Stock Exchange on Thursday after vowing an economic boom to a cheering crowd of traders and business leaders.Trump was flanked by Vice President-elect JD Vance, incoming first lady Melania Trump, NYSE...
FBI Director Christopher Wray to resign before Trump takes office
FBI Director Christopher Wray walks into a secure information area ahead of a closed-door security meeting on Capitol Hill in Washington on Sept. 25, 2024.Tom Brenner | The Washington Post | Getty ImagesFederal Bureau of Investigation Director Christopher Wray...
Rupee slips to record low pressured by NDF dollar bids, RBI likely steps in, ET BFSI
The rupee fell to 84.86 in early trading, eclipsing its previous record low of 84.8575 hit on Tuesday.The Indian rupee weakened to its all-time low on Wednesday, pressured by heightened dollar bids in the non-deliverable forwards market, while likely intervention by...
Luigi Mangione’s notebook mentioned killing of UnitedHealthcare CEO
A notebook found with Luigi Mangione contains a description of killing a CEO that matches details of his alleged murder of UnitedHealthcare's CEO in New York last week, NBC News reported Wednesday."What do you do?" a section of the notebook says."You wack the CEO at...
Real estate stars Oren, Tal Alexander and brother arrested after sex assault claims
Tal Alexander (L) and Oren Alexander (R).Getty ImagesTop real estate agents Tal and Oren Alexander and their brother, Alon, who have been accused of sexual assault in multiple lawsuits, were arrested in Miami on Wednesday.Federal prosecutors in New York, who announced...
Trump’s White House return is already pushing Europe and the UK closer together
British Chancellor of the Exchequer Rachel Reeves talks to the media at the EU Council headquarter on Dec. 9, 2024 in Brussels, Belgium. Thierry Monasse | Getty Images News | Getty ImagesBRUSSELS, Belgium ꟷ President-elect Donald Trump has not yet re-entered the...
RBI Governor Sanjay Malhotra, ET BFSI
Sanjay Malhotra takes charge as 26th RBI GovernorAddressing his first press conference after assuming the charge of Reserve Bank of India (RBI) Governor, Sanjay Malhotra said, It’s a huge responsibility, and all decisions will be taken with public interest in mind.“I...
‘Will do what’s best for economy,’ says newly appointed RBI Governor Sanjay Malhotra, ET BFSI
Newly appointed Reserve Bank governor Sanjay Malhotra on Tuesday said that he will work towards what is best for the economy when he takes charge at the central bank.Malhotra will take charge as the 26th RBI governor on Wednesday. "This is a completely new role and...
Trump vows ‘fully expedited’ permits for $1 billion investments in U.S.
U.S. President-elect Donald Trump attends a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, on Nov. 19, 2024.Brandon Bell | Via ReutersPresident-elect Donald Trump vowed Tuesday that people or companies who invest...
Analysts, BFSI News, ET BFSI
Mumbai, The appointment of Sanjay Malhotra as the new RBI Governor "cements" the possibility of a rate cut at the next policy review in February, analysts said on Tuesday. Outgoing Governor Shaktikanta Das was "sticking to his guns" on rates as seen at the December 6...
Fed Chair Jerome Powell can serve remainder of term, Scott Bessent says
Federal Reserve Chair Jerome Powell speaks during a news conference following a Federal Open Market Committee meeting in Washington on Nov. 7, 2024.Kent Nishimura | Getty ImagesFederal Reserve Chair Jerome Powell can finish his term leading the U.S. central bank...
Sanjay Malhotra takes charge as 26th RBI Governor for next 3 years, ET BFSI
Sanjay Malhotra takes charge as 26th RBI Governor for next 3 years (Image Source: RBI)The newly appointed Sanjay Malhotra takes charge as the 26th Governor of Reserve Bank of India for the next 3 years on Wedneday. His tenure is effective from December 11, 2024, a day...
Inflation major challenge globally, no country can tackle it in isolation: Nirmala Sitharaman, ET BFSI
New Delhi: Union Finance Minister Nirmala Sitharaman during the CII Global Economic Policy Forum, in New Delhi. (PTI Photo/Shahbaz Khan)(Finance Minister Nirmala Sitharaman while addressing the CII Global Economic Policy Forum said that inflation continues to be a...
Yellen discusses South Korean political crisis with country’s finance minister
Treasury Secretary Janet Yellen speaks at the Council on Foreign Relations in New York City, U.S., October 17, 2024. Andrew Kelly | ReutersU.S. Treasury Secretary Janet Yellen spoke to South Korean Finance Minister Choi Sang-mok on Tuesday and discussed South Korea's...
Luigi Mangione rages before UnitedHealthcare murder extradition hearing
Luigi Mangione is led into the Blair County Courthouse for an extradition hearing December 10, 2024 in Hollidaysburg, Pennsylvania. Jeff Swensen | Getty ImagesAn agitated Luigi Mangione yelled at reporters outside a Pennsylvania courthouse before a hearing on his...
Note by UnitedHealthcare murder suspect
Luigi Mangione seen in a McDonald's restaurant in Altoona, P.A. on Dec. 9th, 2024.Source: Altoona Police DepartmentLuigi Mangione had a handwritten note that said, "These parasites had it coming," when he was nabbed in Pennsylvania by police who recognized him as the...
Biden gives remarks on his economic legacy
[The stream is slated to start at 12:15 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden is set to deliver remarks about his decisionmaking on the U.S. economy during his four years in office.The Democratic incumbent...
NY AG Letitia James refuses Trump’s demand to drop fraud case
Former U.S. President Donald Trump attends the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, at a Manhattan courthouse, in New York City, U.S., October 3, 2023. Shannon...
From inflation to geopolitics, Das suggestions to his successor, ET BFSI
Shaktikanta Das.Addressing his last press conference on Tuesday, the outgoing Governor of Reserve Bank of India (RBI) highlighted some of the key aspects that his successor need to take care of. He said that resorting inflation growth balance is task ahead for RBI....
Brazil’s Lula rushed to Sao Paulo for brain surgery, stable in ICU
President of Brazil Luiz Inácio Lula da Silva speaks during an event to commemorate the International Amazon Rainforest Day at Salão Nobre of Planalto Government Palace on September 5, 2023 in Brasilia, Brazil.Andressa Anholete | Getty Images News | Getty...
Income tax relief in Budget 2025? Nirmala Sitharaman may announce a cut for this tax slab, ET BFSI
The upcoming Budget that will be presented by Finance Minister Nirmala Sitharaman in February 2025 is likely to provide relief to the low-income group in the budget with tax reduction expected in the Rs 3 lakh - Rs 7 lakh tax slab under the new regime, reported ETNow...
RBI’s ‘impossible trinity’ dilemma is waiting for incoming governor Sanjay Malhotra, ET BFSI
The Reserve Bank of India (RBI) is set for a change at the helm as Sanjay Malhotra prepares to step in as governor, succeeding Shaktikanta Das. Malhotra’s tenure begins amidst significant challenges, including navigating economic growth, inflation control, and...
RBI, Finance Ministry coordination at its best, says Shaktikanta Das, ET BFSI
Mumbai, The Reserve Bank of India and the Finance Ministry have been on "best terms with excellent coordination and cooperation" over the last six years, outgoing RBI Governor, Shaktikanta Das, said in his farewell address on Tuesday.He said, "The perspectives of the...
New RBI governor Sanjay Malhotra faces tough tasks of balancing growth, inflation, and rupee stability, ET BFSI
Ending weeks of speculation, the government has announced the appointment of Sanjay Malhotra as the Reserve Bank of India Governor, who arrives at a crucial time when the central bank is battling at several fronts.Malhotra succeeds Shaktikanta Das, who steered RBI and...
Dinesh Kumar Khara, ET BFSI
"A very fine gentleman and, of course, having an eye on detail and very sharp in his grasp. So, this is how I really look at Mr Malhotra and I am quite confident that he will continue to take the RBI to the higher pedestal in terms of the contribution put in by Mr...
UnitedHealthcare CEO killing person of interest
The suspect involved in killing of Brian Thompson, the CEO of UnitedHealthcare, in Midtown Manhattan on Dec. 4, 2024.Source: NYPDThe man considered a "strong person of interest" in the fatal shooting of UnitedHealthCare CEO Brian Thompson is a private-school...
Economists react to India’s new cenbank chief announcement, ET BFSI
NEW DELHI - India appointed career civil servant Sanjay Malhotra as its new central bank governor on Monday in a surprise move that leaves markets guessing about the future direction of monetary policy, as growth slows and high inflation persists. With a new governor...
Luigi Mangione charged with murder of UnitedHealthcare CEO Brian Thompson
Booking photo of Luigi Mangione.Pennsylvania Department of CorrectionsNew York prosecutors on Monday charged Ivy League grad Luigi Mangione with the murder of UnitedHealthcare CEO Brian Thompson, court records show.The charge came hours after Mangione, 26, was...
Shaktikanta Das remembers Late Arun Jaitley; extends gratitude to PM, FM, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das As the term of Shaktikanta Das as Reserve Bank of India (RBI) Governor comes to an end on Tuesday, he extends his gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman. Das also...
From inflation to geopolitics, Das suggestions to his successor, ET BFSI
Shaktikanta Das.Addressing his last press conference on Tuesday, the outgoing Governor of Reserve Bank of India (RBI) highlighted some of the key aspects that his successor need to take care of. He said that resorting inflation growth balance is task ahead for RBI....
Lithium pivotal to Europe’s massive trade deal with South America
Aerial view of brine ponds and processing areas of the lithium mine of the Chilean company SQM (Sociedad Quimica Minera) in the Atacama Desert, Calama, Chile, on September 12, 2022.Martin Bernetti | Afp | Getty ImagesThe strategic importance of lithium is likely to...
Six major policy decisions in six years, BFSI News, ET BFSI
Whether it's the “horse requiring a tight leash” or addressing the “elephant in the room,” Shaktikanta Das has often relied on vivid metaphors to describe interest rate policies. Das, 67, the outgoing governor of the Reserve Bank of India will demit office on December...
U.S. creators could lose over $1 billion in first month, company says
An advocate holds a sign for TikTok following a news conference outside the US Capitol in Washington, DC, US, on Tuesday, March 12, 2024. Graeme Sloan | Bloomberg | Getty ImagesTikTok in a court filing Monday warned that U.S. small businesses and social media creators...
Man questioned in Pennsylvania in UnitedHealthcare CEO slaying
Police in Pennsylvania are questioning a man on Monday in connection with the fatal shooting of UnitedHealthcare CEO Brian Thompson, NBC News reported.The man was found with a gun that is similar to the one used to kill the 50-year-old Thompson by a masked gunman last...
Who is Sanjay Malhotra? RBI’s new Governor replacing Shaktikanta Das, ET BFSI
Revenue Secretary Sanjay Malhotra has been appointed as the Reserve Bank of India (RBI) Governor on Monday. Currently, the 56-year-old, Malhotra is serving as the Revenue Secretary under Government of India, and is a 1990-batch IAS officer of the Rajasthan cadre. He...
Shaktikanta Das’s tenure concludes as second-longest-serving RBI Governor: A timeline, ET BFSI
Outgoing Governor of the Reserve Bank of India, Shaktikanta Das After serving for six years with an illustrious career, the Reserve Bank of India (RBI) Governor Shaktikanta Das hanged his boots. The 25th Governor of RBI is the second-longest-serving RBI governor after...
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. Dow dragsMajor U.S. stock indexes enjoyed another strong stretch last week – except for the Dow Jones Industrial Average. The S&P 500 and Nasdaq Composite both had their third...
Sanjay Malhotra appointed as 26th RBI Governor, ET BFSI
Revenue Secretary Sanjay Malhotra will be the next RBI Governor for a period of three years, a notification issued by the DPoT said on Monday.Sanjay Malhotra will take over from current RBI Governor Shaktikanta Das on December 11.Sanjay Malhotra is an IIT-Kanpur...
South Korea President Yoon banned from foreign travel as leadership crisis deepens
People gather outside the National Assembly, after South Korean President Yoon Suk Yeol declared martial law, in Seoul, South Korea, December 4, 2024. Soo-hyeon Kim | ReutersSouth Korean President Yoon Suk Yeol has been banned from leaving the country over a failed...
Economists see RBI rate cut in February; muted growth due to low investments, ET BFSI
The Reserve Bank of India Governor Shaktikanta Das in his latest MPC announcement on Friday decided to keep the repo rate unchanged at 6.5 percent for the 11th consecutive time, despite high inflation and a slowdown in economic growth. Economists shared with ETCFO...
Biden says U.S. will support Syria and its neighbors after Assad dynasty collapses
U.S. President Joe Biden delivers remarks from the Rose Garden of the White House in Washington, U.S., November 26, 2024. Nathan Howard | ReutersPresident Joe Biden cheered the toppling of Syria's dictatorship in remarks on Sunday, but he warned about the uncertainty...
Russian state news agencies say ousted Syrian leader Bashar Assad is in Moscow and given asylum
Russia's President Vladimir Putin (R) shakes hands with his Syrian counterpart Bashar al-Assad during a meeting in Sochi on November 20, 2017.Ousted Syrian President Bashar Assad fled to Moscow on Sunday, Russian media reported, hours after a stunning rebel advance...
India leads with 27 tonnes in October, ET BFSI
The October gold purchase by the Central banks across the globe doubled that of the 12-month average with the Reserve Bank of India (RBI) leading both y-t-d purchases and those reported during the month, according to a report released by the World Gold Council.India...
Trump is stacking his White House roster with uber-rich backers
U.S. President-elect Donald Trump greets Elon Musk before attending a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, U.S., November 19, 2024. Brandon Bell | Via ReutersDonald Trump's first administration was chock...
U.S. unveils $988 million aid package for Ukraine including rockets and drones
U.S. Defense Secretary Lloyd Austin testifies before a U.S. House Appropriations Defense Subcommittee hearing on President Biden's proposed budget request for the Department of Defense, on Capitol Hill in Washington, March 23, 2023.Michael A. McCoy | ReutersThe United...
South Korea martial law fallout deepens as prosecutors close in on president, ex-defense minister
People march in heavy rain to protest against South Korean president Yoon Suk Yeol, as strike and protests continue amid the martial law crisis, in Seoul, South Korea, on December 05, 2024. Daniel Ceng | Anadolu | Getty ImagesSouth Korea's leadership crisis deepened...
Assad regime on brink of collapse in Syria as rebel forces claim Damascus
TOPSHOT - Fighters fire towards Syrian Army troops in the Rashidin district on the outskirts of Aleppo on Nov. 29, 2024.Bakr Alkasem | Afp | Getty ImagesThe more than 50-year Assad dynastic dictatorship was on the cusp of collapse on Sunday, as rebel forces seized the...
Trump is welcomed by Macron to Paris with presidential pomp and joined by Zelenskyy in their meeting
French President welcomed Donald Trump to Paris on Saturday with a full a dose of presidential pomp and they held an impromptu meeting with Ukraine's Volodymyr Zelenskyy on a day that mixed pageantry with attention to pressing global problems.Trump, the once and...
South Korea’s President Yoon survives impeachment motion after ruling party boycotts vote
SEOUL, SOUTH KOREA - NOVEMBER 07: South Korean President Yoon Suk-yeol attends a press conference on state affairs at the presidential office on Nov. 7, 2024.Pool | Getty Images News | Getty ImagesBeleaguered South Korean President Yoon Suk Yeol on Saturday survived...
RBI cash reserve ratio cut expected to support banks’ NIMs: Report, ET BFSI
NEW DELHI: The RBI's reduction in Cash Reserve Ratio (CRR) is expected to offer modest support to banks' Net Interest Margins (NIMs), according to a report by Axis Securities. The assessment mentioned that the decision will enhance liquidity while supporting broader...
Trump returns to world stage at Notre-Dame reopening in Paris
U.S. President-elect Donald Trump smiles at the crowd during the National Guard Association of the United States' 146th General Conference & Exhibition at Huntington Place Convention Center on Aug. 26, 2024 in Detroit, Michigan.Emily Elconin | Getty Images News |...
SBI forecasts India’s GDP growth at 6.3 pc, lower than RBIs projection of 6.6 pc for FY25, ET BFSI
SBI forecasts India's GDP growth at 6.3 pc, lower than RBIs projection of 6.6 pc for FY25New Delhi [India], December 7 (ANI): SBI forecasted India's GDP growth at 6.3 pc, lower than RBIs projection of 6.6 pc for FY25 in its latest report.The average growth of the...
Inflation likely to ease to 5.4 per cent in November on decline in vegetable prices: Union Bank, ET BFSI
New Delhi [India], December 7 (ANI): India's Consumer Price Index (CPI) inflation is expected to ease to 5.4 per cent in November 2024, down from 6.2 per cent in October, according to a report by Union Bank of India.The decline is primarily attributed to a seasonal...
Syrian rebels seize fourth city, close in on Homs in threat to Assad’s rule
HOMS, SYRIA - DECEMBER 06: Anti-regime armed groups advancing in Syria's strategically important province of Homs, the gateway to the capital Damascus, on Dec. 06, 2024. Anadolu | Anadolu | Getty ImagesSyrian rebels said they seized control of the southern city of...
Police believe suspect left New York
Closed circuit screenshots of a person of interest in the UnitedHealthcare CEO killing.Source: NYPDPolice believe the person of interest being sought in connection to the killing of UnitedHealthcare CEO Brian Thompson left New York City shortly after the slaying...
RBI’s CRR cut may provide 3-4 bps relief to banks on margins front ; liquidity challenges remain, ET BFSI
The reduction in the Cash Reserve Ratio (CRR) by 50 basis points may not impact rates but provide relief on banks on squeezed margins.The Reserve Bank of India (RBI) announced a reduction in the Cash Reserve Ratio (CRR) by 50 basis points in two tranches of 25 bps...
UnitedHealthcare CEO killing leads health insurers to pull photos
Igor Golovnov | Sopa Images | Lightrocket | Getty ImagesThe killing of UnitedHealthcare CEO Brian Thompson led Centene, another big health insurer, to switch to a virtual investor day instead of a planned in-person event in New York.Thompson's slaying also has...
Trump may cancel U.S. Postal Service electric mail truck contract: Reuters
The United States Postal Service unveils two of its battery-powered vehicles at an event announcing its plan on implementing electric vehicles, at the Postal Service Headquarters on December 20, 2022 in Washington, DC. Kevin Dietsch | Getty ImagesDonald Trump's...
Court upholds law ordering ByteDance to divest app
A federal appeals court on Friday cited national security concerns as it upheld a law requiring China-based ByteDance to sell the popular social media app TikTok next month or face an effective ban in the United States.The unanimous ruling by a three-judge panel of...
DOGE’s Musk, Ramaswamy try to sell Congress on huge spending cuts
WASHINGTON, D.C. — Entrepreneurs Elon Musk and Vivek Ramaswamy's have an ambitious agenda to cut federal spending with the help of their outside advisory council, the Department of Government Efficiency (DOGE).But on their first joint visit to Congress on Thursday,...
RBI reduces Cash Reserve Ratio to 4%, Repo rate unchanged at 6.5%, ET BFSI
RBI Reduce CRR: Reserve Bank of India (RBI) Governor Shaktikanta Das announced the decisions of the last Monetary Policy Committee (MPC) for 2024 on Friday. The MPC members with a majority of 4:2 decided to keep the repo rate unchanged and keep the ‘Neutral’ stance....
India cenbank holds rates steady, market awaits liquidity steps, ET BFSI
MUMBAI, - The Reserve Bank of India (RBI) kept its key interest rate unchanged on Friday, citing still-high inflation and disappointing some investors who had bet on a cut after a sharp slowdown in economic growth in the July-September quarter.The Monetary Policy...
RBI’s MPC announces launch of podcasts as new communication channel, ET BFSI
The Reserve Bank of India's Monetary Policy Committee on Friday announced that it will be adding another medium of communication of through podcasts. The announcement was made by Governor Shaktikanta Das on Friday in what is his last speech of this term.The decision...
RBI sees inflation moderating to 4% by Q2 of next fiscal, ET BFSI
The Reserve Bank of India has projected inflation within its tolerance band of 4-6 per cent for this fiscal and the next second half on easing of food prices but has warned of geopolitical uncertainties and financial market volatilities as upside risks."CPI inflation...
Romanian top court annuls presidential election result
People pass by electoral posters with candidates for the presidential and parliamentary elections in Bucharest on November 22, 2024. Daniel Mihailescu | Afp | Getty ImagesRomania's top court annulled the result of the first round of the country's presidential election...
RBI sharply cuts FY25 GDP growth projections to 6.6% after Q2 shocker, ET BFSI
The RBI has lowered its real GDP growth projection for 2024-25 to 6.6% from the earlier estimate of 7.2%. This sharp revision follows a subdued second-quarter GDP growth of 5.4%, compared to the RBI’s earlier estimate of 7%."Real GDP growth for 2024-25 is projected at...
RBI Governor Das on demand weakness, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday allayed concerns on muted consumer demand saying private consumption is expected to improve with good crop prospects.“Looking ahead, robust kharif foodgrain production and good rabi prospects, coupled with...
RBI asks banks to collaborate with MuleHunter.AI intiative, ET BFSI
Mumbai, The RBI on Friday asked banks to collaborate with its initiative MuleHunter.AI to weed out mule accounts which are used to commit financial fraud. A mule account is a bank account used by criminals to launder illicit funds, often set up by unsuspecting...
New interest rate benchmark SORR to replace Mibor, BFSI News, ET BFSI
The Reserve Bank of India has decided to float a new interest rate benchmark -- the Secured Overnight Rupee Rate (SORR) -- in line with the increasing importance of the collateralised money markets.The move is expected to improve the credibility of the interest rate...
De-dollarisation not on agenda, only agreements for Vostro accounts with countries for trade in local currency: RBI Governor, ET BFSI
Mumbai (Maharashtra) [India], December 6 (ANI): Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that India has not taken any specific steps to move away from dollars, in what is often called de-dollarisation. Responding to questions during the...
Liquidity & Macroeconomic pressures keeps RBI cautious: Economists, ET BFSI
~Samriddhi Singh MaharWith the announcement by RBI Governor Shaktkanta Das, that the repo rate will remain unchanged for the 11th consecutive time, economists see the decision to maintain the policy rate at 6.5% while implementing a 50-bps CRR cut as RBI prioritising...
RBI raises FY25 inflation estimate to 4.8 pc; food price pressures to keep CPI elevated in Q3, ET BFSI
Mumbai, The Reserve Bank on Friday raised the inflation projection for current fiscal year to 4.8 per cent from 4.5 per cent with Governor Shaktikanta Das saying lingering food price pressures are likely to keep headline inflation elevated in the December quarter....
McKinsey unit settles claims it bribed South African officials
This photograph shows a logo of American multinational corporation McKinsey & Company on the first day of the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 26, 2024. Pau Barrena | Afp | Getty ImagesA...
RBI says financial parameters for banks and NBFCs continue to be strong, ET BFSI
The Reserve Bank of India (RBI) Governor Shaktikanta Das said Friday the financial parameters for banks and non-banking financial companies (NBFCs) continue to be strong amid narrowing credit deposit gaps and proactive regulatory oversight."The incoming data suggests...
Top 10 announcements from MPC Meet Dec 2024, ET BFSI
The Reserve Bank of India (RBI) on Friday, in a 4-2 majority vote, decided to keep the repo rate unchanged at 6.5 per cent, marking the 11th consecutive pause in its rate-setting cycle. RBI Governor Shaktikanta Das stated that the policy stance remains neutral,...
IRS crackdown on wealthy Americans faces roadblocks
WASHINGTON — Tens of thousands of wealthy Americans are not complying with recently revamped Internal Revenue Service efforts to get them to file tax returns, according to data obtained exclusively by CNBC.A quirk in federal tax law may be incentivizing wealthy people...
Is RBI boss getting extension for another term? Governor Shaktikanta Das says…, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das remained tight-lipped on whether his term as the head of the central bank would be extended, during the Monetary Policy Committee (MPC) press conference on Friday. "I am not giving you any headlines," Das said when...
CEOs seek protection after UnitedHealthcare executive shooting: Kroll
Chief executives and other high-level corporate officers are seeking additional security protection after the brazen slaying of UnitedHealthcare's chief executive officer in New York, according to a top risk management firm."We had CEOs and other executive level and...
Inflation prompts India cenbank to raise agri loan limit, ET BFSI
MUMBAI, - India's central bank said on Friday it will raise the limit for collateral-free agriculture loans to 200,000 rupees ($2,364.15) in a bid to enhance access to formal credit for small and marginal farmers in the country.Banks were required to extend...
RBI move to make foreign currency deposits more attractive for non-residents, ET BFSI
Mumbai: Reserve Bank of India (RBI) has announced an increase in the interest rate ceilings on Foreign Currency Non-Resident Bank [FCNR(B)] deposits in an effort to attract more foreign investment. This move comes at a time when the Indian rupee has been under...
Trump picks former Senator David Perdue to be ambassador to China
Former Republican U.S. Senator David Perdue, who is primarying incumbent Brian Kemp for Georgia governor, speaks at a campaign event in Covington, Georgia, February 2, 2022.Elijah Nouvelage | ReutersU.S. President-elect Donald Trump said on Thursday he has chosen...
UnitedHealthcare shooting shell casing clues
Book title: "Delay Deny Defend: Why Insurance Companies Don't Pay Claims and What You Can Do About It" by Jay M. FeinmanSource: Amazon Inc.Shell casings from the brazen slaying of UnitedHealthcare CEO Brian Thompson in midtown Manhattan had the words "deny," "defend"...
NYPD photos show face of person sought
Closed caption screenshots of of person wanted for questioning in the United Healthcare CEO killing.Source: NYPDNew York police on Thursday released photos of a person wanted for questioning in the fatal shooting of UnitedHealthcare CEO Brian Thompson.The two photos...
RBI may go for CRR cut instead of repo rate reduction in monetary policy: Expert, ET BFSI
Mumbai (Maharashtra) [India], December 5 (ANI): With the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting underway, experts have suggested that the central bank might go for a reduction in Cash Reserve Ratio (CRR) for banks instead of cutting the...
Rupee little changed as cenbank rate decision, growth commentary looms, ET BFSI
The Indian rupee ended little changed following a rangebound trading session on Thursday, with market players speculating whether the country's central bank will initiate an interest rate easing cycle on Friday to stimulate economic growth.The rupee, ended at 84.7325...
Trump picks Adam Boehler to be presidential envoy for hostage affairs
Adam Boehler, the CEO of the U.S. International Development Finance Corporation, addresses the daily coronavirus task force briefing in the Rose Garden at the White House in Washington, U.S., April 14, 2020. Leah Millis | ReutersPresident-elect Donald Trump announced...
Das & Co likely to hold rates and lower GDP growth outlook, ET BFSI
The Reserve Bank of India (RBI)-led Monetary Policy Committee (MPC) will unveil its bi-monthly policy decisions on December 6, 2024, at 10:00 am.The three-day meeting, which began on December 4, is being closely watched. For the first time in more than 30 months, MPC...
Piyush Goyal asks MSMEs to share issues related to accessing bank credit, ET BFSI
Union Minister of Commerce and Industry Piyush Goyal Addressing the financing challenges faced by the micro, small, and medium enterprises (MSME), Union Minister for Commerce and Industry, Piyush Goyal said the government is open to the idea of alternate financing...
RBI, BFSI News, ET BFSI
Mumbai: RBI has partially reversed an earlier directive to disable cash retraction facility in ATMs. The facility was originally disabled in Jan 2012 due to concerns over fraud.The cash retraction facility refers to the built-in feature in ATMs where the machine pulls...
RBI, BFSI News, ET BFSI
Mumbai: Climate risks have started to impact the financial system and could pose systemic problems in future, according to RBI. Besides damage to assets, risks include business disruption, increase in loan losses, and transition risks arising from the shift to a...
Indian markets make substantial gains from day’s low in anticipation of rate cut by RBI: Experts, ET BFSI
Mumbai (Maharashtra) [India], December 5 (ANI): The Indian stock indices revived during the day on Thursday after a slow start at the opening, as investors anticipate a rate cut in the ongoing MPC meeting says market experts.The Nifty 50 index surged 165 points or...
RBI may explore other liquidity tools like open market operations (OMOs) and foreign exchange (FX) swaps instead of rate cut: Report, ET BFSI
New Delhi: The Reserve Bank of India (RBI) may keep the current policy rates unchanged in the ongoing Monetary Policy Committee (MPC) meeting, according to a report by the Union Bank of India. As per the report, RBI is unlikely to announce a cash reserve ratio (CRR)...
Notable decline in forex reserve because RBI using forex to manage currency volatility: UBI Report, ET BFSI
Mumbai (Maharashtra) [India], December 5 (ANI): The recent decline in India's forex reserve from USD 705 billion to USD 656.58 billion is because the central bank is using forex reserve to manage currency volatility says a report by Union Bank of India.The report says...
Trump asks Georgia court to end election interference case
U.S. President-elect Donald Trump attends a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, U.S., November 19, 2024.Brandon Bell | Via ReutersPresident-elect Donald Trump asked the Georgia Court of Appeals on...
When and where to watch Guv Shaktikanta Das’ live address, ET BFSI
The Reserve Bank of India (RBI)-led Monetary Policy Committee (MPC) will unveil its bi-monthly policy decisions on December 6, 2024, at 10:00 am. The three-day meeting, which began on December 4, is being closely watched as the central bank navigates through...
Some ATMs to retract cash, BFSI News, ET BFSI
MUMBAI: RBI has partially reversed an earlier directive to disable cash retraction facility in ATMs. The facility was originally disabled in Jan 2012 due to concerns over fraud.The cash retraction facility refers to the built-in feature in ATMs where the machine pulls...
South Korea’s Yoon names new defense minister after botched martial law
Defense Minister Kim Yong-hyun resigns.Anadolu | Anadolu | Getty ImagesSouth Korean President Yoon Suk Yeol has accepted the resignation of Defense Minister Kim Yong-hyun and nominated his ambassador to Saudi Arabia, Choi Byung-hyuk, as new defense minister, Yonhap...
French government toppled in no-confidence vote brought by opposition
France's Prime Minister Michel Barnier (C) looks on during a session of questions to the government at The National Assembly in Paris, on December 3, 2024. Julien De Rosa | Afp | Getty ImagesThe French government has been toppled in a vote of no confidence Wednesday,...
Trump picks Peter Navarro as top trade advisor
Peter Navarro, former Director of the U.S. Office of Trade & Manufacturing, gestures as he speaks on Day 3 of the Republican National Convention (RNC), at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 17, 2024. Mike Segar | ReutersPresident-elect Donald...
RBI’s top moves in balancing innovation and regulation, ET BFSI
The Reserve Bank of India (RBI) marked its 90th year on April 1, 2024, also its another year of heightened regulatory activity. From tightening actions on Paytm and Kotak Mahindra Bank to introducing the SRO framework in May, announcing Unified Lending Interface (ULI)...
Will RBI blink on rates after govt’s rate-cut call and GDP miss?, ET BFSI
The tenure of Shaktikanta Das as the governor of the Reserve Bank of India (RBI) is nearing its end next week, with speculation rising over whether he will receive an extension. His future has become a point of focus, particularly following India's underwhelming GDP...
MoS Finance, BFSI News, ET BFSI
New Delhi, The government is not considering merger of public sector banks, Minister of State for Finance Pankaj Chaudhary said on Tuesday. In a written reply to a question in the Rajya Sabha, he said several steps have been taken by the government to strengthen the...
Banks should adopt ‘bottom-up’ approach for preparing credit plan: RBI’s Swaminathan, ET BFSI
Mumbai, Banks should adopt a "bottom-up" approach for preparing credit plans to fulfil fund requirements for different segments in districts, RBI Deputy Governor Swaminathan J has said. Addressing a conference for lead district managers of Maharashtra last week, the...
Speculation over RBI chief Shaktikanta Das’ future heats up after GDP miss, ET BFSI
RBI Governor, Shaktikanta DasOne of India’s worst GDP growth misses in recent memory is suddenly adding more pressure on central bank Governor Shaktikanta Das, who still hasn’t gotten an extension even though his term expires next week.Economists are speculating over...
Central bank behind the curve?, BFSI News, ET BFSI
Dec 3 - By Ira Dugal, Editor Financial News, with global staff.Greetings from Mumbai!This week on the India File, we focus on the unexpectedly weak economic growth reported for the July-September quarter. Does part of the blame lie at the central bank's door?The...
Mike Bloomberg warns RFK Jr. atop HHS risks killing Americans
Former New York City mayor Michael Bloomberg, a democratic presidential candidate, attends the U.S Conference of Mayors 88th Winter Meeting in Washington, D.C, January 22, 2020.Yasin Ozturk | Anadolu Agency | Getty ImagesBillionaire and public health advocate Mike...
Reserve Bank’s MPC starts deliberations on bi-monthly monetary policy, ET BFSI
Mumbai, Reserve Bank's high level panel on Wednesday started deliberations on the bi-monthly monetary policy amid expectations of status quo on interest rate as the retail inflation is above the upper tolerance level of the central bank. The decision taken at the RBI...
Trump agrees to DOJ background checks for nominees
President-elect Donald Trump's transition team said Tuesday that it reached an agreement with the Department of Justice that sets the stage for the department to conduct background checks and start the security clearance process for Trump administration nominees and...
All eyes on central bank’s action on rising inflation, ET BFSI
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting to determine the policy rate in the country commenced today in Mumbai.Chaired by RBI Governor Shaktikanta Das, the three-day meeting will run from December 4 to December 6, with the Governor...
SBI writes to RBI to consider non-financial transactions as well for tagging an account as operative, ET BFSI
Faced with the challenge of ensuring an account remains operative, the State Bank of India (SBI) has written to the Reserve Bank, requesting change in rules, and consider non-financial transactions like balance checking as well for tagging an account as operative. C S...
Contentious budget plans are wreaking political havoc across Europe
France's Prime Minister Michel Barnier ponders during a session of questions to the government at the National Assembly in Paris, on December 3, 2024.Julien De Rosa | Afp | Getty ImagesThe French government once again stands on the brink of collapse, after Prime...
On the horns of a dilemma, BFSI News, ET BFSI
In the last few years, RBI has largely been following a data-driven and evidence-based approach in its pursuit of a contextually relevant Policy, a Policy stemming from the concerns at the time of formulation and an attempt to arrive at judicious Policy prescriptions....
$200 million Ponzi scheme nets Florida woman 20-year prison sentence
Screenshot of Johanna Michely Garcia of MJ Capital Funding, who was sentenced on Dec. 3, 2024, to 20 years in prison in a Ponzi scheme.Source: MJ CapitalA Florida woman who pleaded guilty in a Ponzi scheme that raked in nearly $200 million was sentenced Tuesday to 20...
Indian central bank likely conducting dollar-rupee buy/sell swaps, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely conducting dollar-rupee buy/sell swaps in the mid-to-far tenors on Wednesday as part of its steps to support the local currency, which had declined to its lifetime low in the previous session, four traders told Reuters.The...
South Korean parliament votes to lift president’s martial law declaration
Members of the military make their way through the crowd in front of the National Assembly, after South Korean President Yoon Suk Yeol declared martial law, in Seoul, South Korea, December 4, 2024. Kim Hong-ji | ReutersThe South Korean National Assembly voted to...
Shots fired near Treasury Secretary Janet Yellen home
Treasury Secretary Janet Yellen delivers remarks on the Inflation Reduction Act after visiting the site of a new paperless processing initiative in McLean, Virginia, on August 2, 2023. Stefani Reynolds | Afp | Getty ImagesMultiple shots were fired early Tuesday...
South Korean president declares emergency martial law
South Korea's President Yoon Suk Yeol speaks during a ceremony held to mark the 74th anniversary of the start of the 1950-1953 Korean War, in Daegu on June 25, 2024.Ahn Young-joon | Afp | Getty ImagesSouth Korean President Yoon Suk Yeol declared an "emergency martial...
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. New highsA specialist trader works at his post on the floor at the New York Stock Exchange (NYSE) in New York City.Brendan McDermid | ReutersThe first trading day of December...
Rupee may fall to 85 against dollar leading to RBI intervention: Naveen Mathur, ET BFSI
Naveen Mathur, Director - Commodities, Currencies and International Business, Anand Rathi Wealth, says the overall perception is that the rupee might continue to 85 levels or so where the RBI might start intervention. They might be intervening because we have seen...
What’s the BRICS’ financial architecture plan that Donald Trump is wary about, ET BFSI
US President-elect Donald Trump has warned of imposing 100% tariffs on a group of nine nations if they pursue the creation of a currency to rival the US dollar sparking a new debate.As the global economic order evolves, the BRICS bloc—comprising Brazil, Russia, India,...
France to hold no-confidence vote in government on Wednesday
French Prime Minister Michel Barnier (C) ahead of his general policy statement to the French National Assembly in Paris on October 1, 2024. Barnier, a right-wing former EU Brexit negotiator, was appointed three weeks ago by French President to bring some stability...
Rupee forward premiums plunge on Indian cenbank’s buy/sell swaps, traders say, ET BFSI
By Nimesh VoraMUMBAI, - The dollar/rupee forward premiums dropped on Tuesday, extending their losses, as the Indian central bank conducted buy/sell swaps alongside spot interventions to prevent the local currency from sliding more than it already has, four traders...
RBI advises banks to organize special campaigns like Aadhaar updation for facilitating activation of frozen accounts, ET BFSI
Mumbai (Maharashtra) [India], December 3 (ANI): The Reserve Bank of India (RBI) has directed banks to take immediate steps to reduce the number of inoperative or frozen accounts and to make the activation process smoother and more hassle-free. To achieve this, the RBI...
RBI cancels registration of Nagpur-based Zavron Finance, ET BFSI
The RBI on Monday said it has cancelled the certificate of registration of Nagpur-based Zavron Finance due to irregular lending practices. Zavron Finance has violated RBI guidelines on code of conduct in outsourcing of financial services in its digital lending...
Trump Defense pick Pete Hegseth report details alcohol abuse
President-elect Donald Trump's nominee to be Secretary of Defense Pete Hegseth leaves the Russell Senate Office Building on November 21, 2024 in Washington, DC. Kevin Dietsch | Getty ImagesPete Hegseth, the already embattled choice of President-elect Donald Trump to...
No extension for Shaktikanta Das? Speculation over RBI chief’s future heats up after GDP miss, ET BFSI
One of India’s worst GDP growth misses in recent memory is suddenly adding more pressure on central bank Governor Shaktikanta Das, who still hasn’t gotten an extension even though his term expires next week.Economists are speculating over the future of Das in the wake...
California Gov. Newsom starts special session, ‘safeguard’ from Trump
Governor Newsom speaks as he signed into law the most significant bipartisan legislation to crack down on property crime at a Home Depot store in San Jose, California, United States on August 16, 2024. Tayfun Coskun | Anadolu | Getty ImagesGov. Gavin Newsom's special...
Speculation over RBI chief Shaktikanta Das’ future heats up after GDP miss, ET BFSI
One of India’s worst GDP growth misses in recent memory is suddenly adding more pressure on central bank Governor Shaktikanta Das, who still hasn’t gotten an extension even though his term expires next week.Economists are speculating over the future of Das in the wake...
Ireland election sees pro-business continuity despite voter discontent
Ballot papers are counted at the Dublin RDS centre, in Dublin, on December 1, 2024, on the second day of counting ballots in the Irish General Election. Ben Stansall | Afp | Getty ImagesIreland's election looks set to have secured victory for the incumbent...
WDRA to approach RBI again for getting preferential treatment eNWRs: Par report, ET BFSI
New Delhi, Warehousing regulator WDRA will pursue with the RBI again for getting preferential treatment to Electronic Negotiable Warehouse Receipt (eNWR), according to a Parliamentary report tabled on Monday. eNWR is a digital warehousing receipt issued by registered...
RBI lifts its supervisory restrictions on Sachin Bansal-led Navi Finserv Limited, ET BFSI
Reserve Bank of India on Monday announced decision to remove its supervisory restrictions on Navi Finserv Limited following several rounds of interaction with the company for rectification of deficiencies."RBI had several rounds of interaction with the company for...
Exchanges warn Religare for not disclosing RBI rejection on Asthana’s appointment, ET BFSI
Mumbai: India’s two major stock exchanges issued warning letters to Religare Enterprises (REL) concerning delayed disclosures regarding the central bank’s rejection of Rakesh Asthana’s appointment as an Additional Director on the company’s board. The Bombay Stock...
Indian cenbank’s ballooning NDF position suggests more rupee losses, bankers say, ET BFSI
By Nimesh VoraMUMBAI, - The surge in the Indian central bank's position in the non-deliverable forward market (NDF) reflects the extent of pressure on the rupee and suggests that the currency, already at a lifetime low, will fall further, bankers said on Monday.The...
RBI unlikely to cut rates in December, may lower CRR by 50 bps in two instalments & talk dovish: B Prasanna, ET BFSI
B Prasanna, Group Head - Global Markets, Trading and Research, ICICI Bank, says GDP was a shocker, but he thinks it has bottomed out and is going to improve in the second half. But even after the improvement, ICICI Bank is penciling in a second half GDP of around 6.5%...
No rate cut in current fiscal, first one likely in April’25, says SBI Report, ET BFSI
As the Reserve Bank of India (RBI) is set to begin the last Monetay Policy Committee (MPC) meeting of 2024 on December 4, the expectations on the rate cut have started coming in. State Bank of India (SBI) in its report said it does not foresee rate cut during the...
Trump threatens 100% tariff on the BRIC bloc of nations if they act to undermine U.S. dollar
Officials, including Chinese President Xi Jinping, Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, attend the BRICS summit in Kazan, Russia October 23, 2024. Alexei Danichev | ReutersPresident-elect Donald Trump on Saturday threatened 100%...
RBI may continue status quo on interest rate, moderate GDP growth forecast: Experts, ET BFSI
The RBI is likely to keep the benchmark interest rate unchanged for one more time in its bilateral monetary policy review later in the week as inflation has breached its upper tolerance limit and may also moderate the growth forecast given the disappointing second...
Trump names Massad Boulos, campaign liaison and family relative, as a senior adviser on Middle East
Massad Boulos in Dearborn, Michigan, Friday, Nov. 1, 2024.AP Photo | Julia Demaree NikhinsonPresident-elect Donald Trump on Sunday named Massad Boulos, a Lebanese American businessman who is the father-in-law of Trump's daughter Tiffany, as a senior adviser on Arab...
FM Nirmala Sitharaman to move Banking Laws (Amendment) Bill in Lok Sabha tomorrow, ET BFSI
Union Finance Minister Nirmala Sitharaman is expected to move the Banking Laws (Amendment) Bill, 2024 in the lower house of Parliament on Monday.As per the schedule issued by the secretariat, Sitharaman is expected to move the Bill further to amend the Reserve Bank of...
RBI may continue status quo on interest rate, moderate GDP growth forecast: Experts, ET BFSI
The RBI is likely to keep the benchmark interest rate unchanged for one more time in its bilateral monetary policy review later in the week as inflation has breached its upper tolerance limit and may also moderate the growth forecast given the disappointing second...
Finance ministry invites applications for PFRDA chairperson post, ET BFSI
The government has begun searching for a successor to Pension Fund Regulatory and Development Authority (PFRDA) chairman Deepak Mohanty whose term is ending in May next year. The PFRDA chairman holds office for five years or till the age of 65 years. The chairman is...
Trump picks real estate mogul Charles Kushner for ambassador to France
Charles Kushner and Jared Kushner attend an event at Lord & Taylor on March 28, 2012 in New York City.Patrick McMullan | Patrick McMullan | Getty ImagesU.S. President-elect Donald Trump said on Saturday that he had picked his son-in-law Jared Kushner's father,...
Canada Prime Minister Trudeau visits Florida to meet with Trump amid tariff threat
Canada's Prime Minister Justin Trudeau takes part in a press conference about the Royal Mounted Police's investigation into "violent criminal activity in Canada with connections to India", on Parliament Hill in Ottawa, Ontario, Canada October 14, 2024. Blair Gable |...
RB(A)I wants more banks to join hunt for mule accounts, ET BFSI
The central bank's innovation arm is in talks with ten public and private banks to further the adoption of its artificial intelligence (AI)-powered tool to detect rising cases of financial fraud through widely prevalent "mule accounts", a top executive said.The...
RB(A)I wants more banks to join hunt for mule accounts, ET BFSI
New Delhi: The central bank's innovation arm is in talks with ten public and private banks to further the adoption of its artificial intelligence (AI)-powered tool to detect rising cases of financial fraud through widely prevalent "mule accounts", a top executive...
RBI to keep repo rate unchanged at meeting next week, chances of rate cut in Feb increased: Report, ET BFSI
The Reserve Bank of India (RBI) is expected to maintain its policy rate during its upcoming meeting next week, as GDP growth slowed significantly in the second quarter of FY25. However, the likelihood of a rate cut in February has increased, according to a report by...
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. Market leftoversU.S. stocks will have a shortened trading day Friday after the market was closed Thursday for Thanksgiving. Equities fell entering the holiday, as some investors...
India cenbank devolves 70% of new green bonds, cutoff below 10-year note, ET BFSI
By Dharamraj DhutiaMUMBAI - The Indian central bank devolved 70% of a new 10-year green bond at an auction on Friday on the primary dealers who underwrote the issue, as market participants likely demanded yields higher than the Reserve Bank of India's comfort, traders...
UK transport minister quits in new blow to PM Starmer
Louise Haigh, U.K. transport secretary, arrives for a pre-budget cabinet meeting in London on Wednesday, Oct. 30, 2024.Bloomberg | Bloomberg | Getty ImagesBritain's transport minister Louise Haigh has resigned after pleading guilty years ago to an offence in...
Lebanon had ‘no say in the decision to go to war,’ foreign minister says
Lebanon's foreign minister on Thursday defended Hezbollah's presence in the region, but said his country had "no say in the decision to go to war" with Israel. Speaking to CNBC's Dan Murphy, Abdallah Bou Habib vowed to uphold a U.S.-France brokered cease-fire that is...
Mexico warns Trump tariffs would kill 400,000 U.S. jobs, threatens retaliation
Mexican President Claudia Sheinbaum speaks after reading a letter to be sent to U.S. President-elect Donald Trump, warning that tariffs would cause inflation and job losses in both countries, at National Palace in Mexico City, Mexico, November 26, 2024. Presidencia De...
Dy Guv Swaminathan, ET BFSI
Mumbai, RBI is working towards creating a robust data analytics ecosystem to support its supervisory functions, ensuring that the approach remains forward-looking and agile in a rapidly changing world, central bank's Deputy Governor Swaminathan J has said. Addressing...
Musk, Ramaswamy pitch DOGE to GOP leaders on Capitol Hill
U.S. President-elect Donald Trump and Elon Musk watch the launch of the sixth test flight of the SpaceX Starship rocket in Brownsville, Texas, on Nov. 19, 2024.Brandon Bell | Via ReutersElon Musk and Vivek Ramaswamy will visit Capitol Hill to discuss government reform...
Indian central bank likely selling dollars to support rupee near key level, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely selling U.S. dollars to help the rupee hold above a key psychological support level for the currency at 84.50, three traders told Reuters.The rupee was marginally weaker at 84.4625 as of 9:20 a.m. IST, compared to its close...
RBI should allow innovation without causing negative disruption; induct more people with tech background: D Subbarao, ET BFSI
Former Reserve Bank of India governor D Subbarao said today that the central bank and other regulators need to include more people with a technology background as technology is coming in a big way in finance."The main purpose of RBI regulation is to maintain financial...
Ireland has much to mull over as voters head to the polls
Polling station in Ireland. Kinga Krzeminska | Moment | Getty ImagesIreland goes to the polls on Nov. 29, with center-right parties Fianna Fáil and Fine Gael once again expected to form the nucleus of the country's next government.The historical rivals have shared...
Donald Trump Jr. joins drone maker Unusual Machines advisory board
Donald Trump Jr. leaves a fundraiser for Donald Trump hosted by former "Neighbours" star Holly Valance, in London, June 12, 2024.James Manning | PA Images | Getty ImagesThe share price of small U.S. drone and drone component maker Unusual Machines soared more than 90%...
RBI DG Rao highlights quadrant of expectations for REs and global risks, ET BFSI
Reserve Bank of India's (RBI)Deputy Governor M Rajeshwar Rao provided insights into the challenges and expectations of regulated entities (REs) in an evolving financial landscape. Speaking on the theme “Building Synergies,” Rao discussed the importance of aligning...
RBI Dy Guv Rao, ET BFSI
Mumbai, India needs to take a quantum leap in the scale and size of the financial institutions to achieve the aspiration of becoming a developed nation by 2047, RBI Deputy Governor M Rajeshwar Rao has said. He was speaking 'High-Level Policy Conference of Central...
Gujarat unveils new cottage and rural industries policy; eyes 12 lakh jobs in 5 years, ET BFSI
Gandhinagar, The Gujarat government announced on Wednesday its new cottage and rural industries policy, offering higher loans and subsidies to artisans and entrepreneurs to set up units in the state. Minister of Cottage Industries Balwantsinh Rajput, who unveiled the...
Parliament likely to pass Banking Laws Amendment Bill, ET BFSI
Union Finance Minister Nirmala Sitharaman As the Winter Session of Parliament begins on Monday, the Finance Minister Nirmala Sitharaman is set to move the Banking Laws Amendment Bill for passage. The Bill was introduced in the previous Monsoon Session seeking enhanced...
Israel-Hezbollah permanent ceasefire has been accepted, Biden says
A permanent ceasefire between Israel and Lebanon's Hezbollah is scheduled to begin Wednesday, following a yearlong conflict between the Jewish state and Iranian-backed groups.President Joe Biden announced the deal, which was brokered by France and the U.S."Under the...
RBI injects ₹6,956 crore as liquidity turns to deficit, BFSI News, ET BFSI
Mumbai: After running surplus liquidity of about ₹1.4 lakh crore for over two months, the banking system saw a decline in cash, prompting the Reserve Bank of India to inject ₹6,956 crore on Monday.The liquidity deficit was because of the balance of payments turning...
Trump selects Jamieson Greer as U.S. trade representative
U.S. President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, D.C., on Nov. 13, 2024.Allison Robbert | Via ReutersU.S. President-elect Donald Trump tapped attorney Jamieson Greer on Tuesday to serve as the...
Govt to soon provide long-term finance via PACS to further empower farmers: Amit Shah, ET BFSI
New Delhi, Cooperation Minister Amit Shah on Tuesday said the government will soon provide long-term finance through Primary Agricultural Credit Societies (PACS) to further empower the farming community. Speaking at the National Federation of State Co-operative Banks...
Development & decarbonization, ET BFSI
India has consistently championed the principle of “common but differentiated responsibilities” (CBDR), underscoring the need for equitable action that takes historical emissions into account.Recently, at COP29, the annual United Nations Climate Change Conference,...
Trump chooses U.S. Covid policy critic Bhattacharya to lead NIH
Dr. Jay Bhattacharya speaks during a roundtable discussion with members of the House Freedom Caucus on the COVID-19 pandemic at The Heritage Foundation on Thursday, November 10, 2022. Tom Williams | Cq-roll Call, Inc. | Getty ImagesPresident-elect Donald Trump on...
Biden proposes Medicare and Medicaid cover weight-loss drugs
Boxes of Ozempic and Wegovy made by Novo Nordisk are seen at a pharmacy in London, Britain March 8, 2024. Hollie Adams | ReutersMillions of Americans with obesity would be eligible to have popular weight-loss drugs like Wegovy or Ozempic covered by Medicare or...
RBI Dy Governor offers 4 suggestions to MSMEs on credit challenges, ET BFSI
What factors contribute to MSMEs’ credit challenge?: RBI DG shares 4 key suggestions The Deputy Governor of Reserve Bank of India (RBI), Swaminathan J, on Monday highlighted that despite the critical role of the MSME sector in the Indian economy, a common grouse is...
Rate cuts likely to optimise home affordability in next 12 months, Kolkata most affordable: Report, ET BFSI
India's housing market is expected to see a significant shift in affordability by 2025, driven by a projected cumulative 50-basis-point cut in interest rates over the next few months, which is anticipated to make home ownership more accessible for buyers, showed a JLL...
Mahila Samman scheme draws 4.33 million depositors, Maharashtra at the top of the list, ET BFSI
The government’s latest small savings scheme for women, launched on April 1 last year, has drawn 4.33 million depositors across the country, minister of state for finance Pankaj Chaudhary told the Lok Sabha on Monday.Maharashtra led the pack of states with 7,46,223...
Republicans gear up for the coming battle over $5 trillion tax cut’s costs
As Republicans on Capitol Hill lay the groundwork for extending the 2017 tax cuts, cracks are already emerging on one of the biggest questions: how to handle the cost.Extending the tax provisions is estimated to increase the deficit by $5 trillion, according to the...
RBI’s inflation ‘horse’ is at war but FinMin is not worried, BFSI News, ET BFSI
While Reserve Bank of India remains worried, Finance Ministry in its monthly economic review has expressed optimism that moderation in prices of key food items is expected soon with bumper kharif (summer crop) harvest to lower food inflation in the coming months"Early...
RBI governor Shaktikanta Das hospitalised in Chennai, BFSI News, ET BFSI
NEW DELHI: Reserve Bank of India governor Shaktikanta Das has been admitted to a corporate hospital in Chennai, a source told news agency PTI on Tuesday.He was being monitored, the source said without divulging details. There was no immediate official information from...
Banana auction billionaire invests in Trump’s crypto venture
Justin Sun, founder of blockchain platform Tron, poses for a photograph in Hong Kong, China, on Friday, May 8, 2020.Calvin Sit | Bloomberg | Getty ImagesTron blockchain founder Justin Sun has invested $30 million into Donald Trump's crypto project, World Liberty...
EU challenges Chinese brandy tariffs at WTO
HAIKOU, CHINA - DECEMBER 17: People purchase brandies during the 26th China (Hainan) International Winter Trade Fair for Tropical Agricultural Products at Hainan International Convention And Exhibition Center on December 17, 2023 in Haikou, Hainan Province of...
5 things to know before the stock market opens Monday November 25
Here are the most important news items that investors need to start their trading day:1. Turkey tradeU.S. stocks enter a shortened trading week on a winning run. The Dow Jones Industrial Average climbed about 2% last week and notched a record close Friday. The S&P...
PM Modi, BFSI News, ET BFSI
Prime Minister Narendra Modi on Monday emphasised the need to link cooperative movement to circular economy and promote international collaboration in the sector. Addressing the ICA Global Cooperative Conference 2024 at the Bharat Mandapam here, Modi said that for...
Macy’s posts preliminary results, delays full earnings release
A shopper carries a Macy's bag on Market Street in San Francisco, California, US, on Wednesday, Nov. 13, 2024. David Paul Morris | Bloomberg | Getty ImagesMacy's on Monday posted preliminary third-quarter results and said it would delay its full earnings release as it...
Surprise far-right candidate leads in Romania’s presidential vote: Partial results
People pass by electoral posters with candidates for the presidential and parliamentary elections in Bucharest on November 22, 2024. Daniel Mihailescu | Afp | Getty ImagesFar-right, pro-Russia independent candidate Calin Georgescu won 22.94% of the vote in Romania's...
How RBI’s gold buying is helping shore up India’s foreign exchange reserves, ET BFSI
The RBI's strategic gold buying has bolstered India’s foreign exchange reserves, offsetting the significant outflow of foreign portfolio investments that resulted in a $47 billion reduction in reserves over a five-week period.Since December 2017, the RBI has been...
Dems back Rubio for State, but criticize Trump-picks Hegseth, Gabbard
A handful of Democrats are sounding their approval of Republican Florida Sen. Marco Rubio as Secretary of State but others continue to doubt some cabinet picks made by President-elect Donald Trump."I think Marco Rubio is enormously well-qualified for the job for which...
Nirmala Sitharaman to move bills to amend banking laws, ET BFSI
New Delhi [India], November 24 (ANI): The Banking Laws (Amendment) Bill which aims to amend the Reserve Bank of India Act, 1934, in addition with the Banking Regulation Act, the State Bank of India Act, among other bills will be moved by Union Finance Minister Nirmala...
Trump picks Brooke Rollins to be agriculture secretary
Brooke Rollins, president and CEO of America First Policy Institute (AFPI), speaks during a discussion hosted by AFPI and The Abraham Accords Peace Institute, in Washington D.C., on Monday, September 12, 2022. Tom Williams | Cq-roll Call, Inc. | Getty ImagesU.S....
Trump expected to pick Brooke Rollins to be Agriculture secretary, WSJ reports
A sign of United States Department of Agriculture is seen on USDA building in Washington D.C., United States on June 21, 2023. The United States Department of Agriculture has approved selling cell-cultured chicken. (Photo by Celal Gunes/Anadolu Agency via Getty...
Policy guidance is more effective when rates are low, BFSI News, ET BFSI
MUMBAI: Interest rate guidance is more effective when policy rates are low as compared to when they are on their way down, according to RBI deputy governor Michael Patra."Under heightened uncertainty, discretion in forward guidance has increasingly gained legitimacy...
Optimal communication is gold standard for all central bankers says RBI deputy Governor, ET BFSI
Optimal communication is gold standard for all central bankers says RBI deputy GovernorMumbai (Maharashtra) [India], November 22 (ANI): Optimal communication is the gold standard for all central bankers, said Reserve Bank of India's Deputy Governor, Michael Debabrata...
Trump picks congresswoman Lori Chavez-Deremer to be labor secretary
Rep. Lori Chavez-DeRemer, R-Ore., participates in the House Transportation Committee hearing on "Oversight of the Department of Transportation's Policies and Programs and Fiscal Year 2025 Budget Request" in the Rayburn House Office Building on Thursday, June 27,...
RBI injects Rs 25,000 cr via VRR route to boost system liquidity, ET BFSI
Mumbai: The Reserve Bank of India (RBI) injected funds into the banking system as the weighted average call rate, a barometer for short-term borrowing costs, rose 23 basis points above the policy repo rate at 6.73% on Friday.Surplus liquidity in the banking system...
Former NY cop pleads guilty to foreign exchange fund fraud conspiracy
U.S. Attorney for the Eastern District of New York, Breon Peace, speaks during a news conference in Brooklyn, New York, U.S., October 22, 2024.Brendan Mcdermid | ReutersFormer New York City police officer Jason Rodriguez pleaded guilty to conspiracy to commit wire...
Trump hush money sentencing delayed indefinitely
Former US President Donald Trump attends the second day of his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City on April 16, 2024.Mary Altaffer | AFP | Getty ImagesA New York judge Friday...
RBI, Maldives Monetary Authority sign pact to promote use of local currencies, ET BFSI
The RBI and the Maldives Monetary Authority on Thursday signed an agreement here for establishing a framework to promote the use of local currencies -- the Indian Rupee and the Maldivian Rufiyaa (MVR) for cross-border transactions. The Memorandum of Understanding...
