Politics
LockBit ransomware indictment and reward for Russian
Zoom In IconArrows pointing outwardsDmitry Yuryevich Khoroshev, Russian national and a leader of LockBit. Courtesy: U.S. Department of the TreasuryFederal prosecutors on Tuesday announced criminal charges against a Russian national, Dmitry Yuryevich Khoroshev, for...
SEC Chair Gensler dodges Trump Media campaign finance questions
Securities and Exchange Commission Chair Gary Gensler on Tuesday refused to comment on speculation of whether Trump Media is a funding organ for Donald Trump's presidential campaign."I'm not going to speak on any one company," Gensler said in an interview on CNBC's...
Biden set to meet with executives from Citi, United Airlines & others
US President Joe Biden speaks about his Investing in America agenda at the Wilmington Convention Center in Wilmington, North Carolina, on May 2, 2024. Mandel Ngan | AFP | Getty ImagesPresident Joe Biden is set to meet Tuesday afternoon with a slate of executives from...
RBI tanks up on 18.5 tonnes of gold in Jan-Mar, exceeding 2023 tally, ET BFSI
Global central banks continued to bolster their gold reserves in March, with significant purchases led by emerging market banks, according to data from the World Gold Council (WGC). Central banks collectively added 16 tonnes of gold to their reserves during the month,...
Ex-president posts — then deletes — message about witnesses
Republican presidential candidate and former U.S. President Donald Trump sits in the courtroom, as his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016 continues, at Manhattan state court...
Trump trial witness David Pecker targeted by ‘swatting’ at his home, Reuters reports
Former National Enquirer publisher David Pecker speaks from the witness stand during former U.S. President Donald Trump's criminal trial on charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in Manhattan state...
Will RBI’s draft guidelines on project financing tighten infra funding?, ET BFSI
The Reserve Bank of India (RBI) has proposed draft guidelines on project financing that could significantly impact lenders by imposing heightened provisioning requirements. Under these guidelines, lenders would be required to set aside provisions of up to 5% of...
Abortion bans drive away young talent: New CNBC/Generation Lab survey
Young people are seen on the Emory University campus in Atlanta, Georgia on October 14, 2022. Elijah Nouvelage | AFP | Getty ImagesThe youngest generation of American workers is prepared to move away from states that pass abortion bans and to turn down job offers in...
Worries build up over RBI strictures on infra financing, BFSI News, ET BFSI
Mumbai: Shares of state-owned banks, non-banking finance companies (NBFCs) and infrastructure firms plunged as much as 10% on Monday following the Reserve Bank of India's tougher draft guidelines on the financing and accounting of project loans. The proposed stricter...
Private digital currencies potentially dangerous, CBDC a safer alternative: RBI Governor, ET BFSI
Reserve Bank of India Governor Shaktikanta DasReserve Bank of India Governor Shaktikanta Das said on Monday that Central Bank Digital Currency (CBDC) or digital currency, can drive financial inclusion and provide a much safer alternative to potentially dangerous...
Latest news on Russia and the war in Ukraine
China says Russia should be included in upcoming Ukraine peace summitChina's ambassador to Russia told Russian media Tuesday that Moscow should be included in a forthcoming Ukraine peace summit to be held in Switzerland.Ambassador Zhang Hanhui told RIA Novosti that...
Six-week long election leaves RBI with liquidity dilemma, ET BFSI
RBI is stepping in to ease banking system liquidity conditions as a national election which stretches over six weeks is hurting government spending despite strong tax collections.Voting in national elections began on April 19 and will conclude on June 1, with counting...
Israeli forces take control of the Gaza side of the Rafah border crossing with Egypt
Smoke billows after Israeli bombardment in Rafah, in the southern Gaza Strip on May 6, 2024, amid the ongoing conflict between Israel and the Palestinian militant group Hamas.- | Afp | Getty ImagesAn Israeli tank brigade seized control Tuesday of the Gaza Strip side...
Rupee flat as traders remain wary of central bank intervention at weaker levels, ET BFSI
By Jaspreet KalraMUMBAI - The Indian rupee was little changed on Tuesday as traders remained shy of pushing the local currency to weaker levels on expectations that the Reserve Bank of India (RBI) would intervene to prevent a sharp fall.The rupee was at 83.4750...
Hamas says it accepts cease-fire proposal from Egyptian, Qatari mediators
Chairman of the Hamas Political Bureau, Ismail Haniyeh speaks to press as he pays a visit to Palestinian photojournalist Ashraf Amra, a freelancer for Turkiye's premier news agency Anadolu who was severely injured on his hand by Israeli army fire while covering a...
RBI working to make digital currency accessible without internet: Guv Das, ET BFSI
RBI working to make digital currency accessible without internet: Guv DasThe Reserve Bank of India (RBI) is working to make its digital currency available without being dependent on internet access, Governor Shaktikanta Das said on Monday. While speaking at the BIS...
Trump Media hires new auditor after accounting firm charged with fraud
Omar Marques | Lightrocket | Getty ImagesTrump Media hired a new auditor over the weekend, after its previous public accounting firm was accused Friday of perpetrating a massive fraud by the Securities and Exchange Commission.The Truth Social owner fired BF Borgers...
Trump trial resumes after week of tears, gag order threats
Former US President Donald Trump attends the first 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 15, 2024.Angela Weiss | AFP | Getty ImagesThis is developing news....
Putin orders tactical nuclear weapon drills to deter the West
Russian President Vladimir Putin delivers a speech during а meeting of the Federal Assembly's Council of Legislators in Saint Petersburg, Russia, April 26, 2024.Alexey Danichev | Via ReutersRussia said on Monday it would practise the deployment of tactical nuclear...
Why RBI’s dividend payout to govt this year will be lower, ET BFSI
The Reserve Bank may transfer a lesser dividend to the government for FY'2023-24 compared to previous year's bumper Rs 87416 crore. An explainer on why the dividend will be lower. The budget estimates dividend transfer in FY'2024-25 at Rs 1.02 lakh crore from the...
Trump's porn star hush-money trial enters week four: Here’s what’s happened so far
Trump's historic criminal trial enters week four.
Home loan outstanding up by Rs 10 lakh crore in last two years: RBI data, ET BFSI
NEW DELHI: Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a record Rs 27.23 lakh crore in March this year, according to RBI's data on 'Sectoral Deployment of Bank Credit'.Experts from banking and real estate...
UPDATE 1-India’s 6-week long national election leaves cenbank with liquidity dilemma, ET BFSI
(Recasts paragraph 1, updates with comments from economists, background)MUMBAI, - India's central bank is stepping in to ease banking system liquidity conditions as a national election which stretches over six weeks is hurting government spending despite strong tax...
Israeli military tells Palestinian civilians in parts of Rafah to ‘evacuate immediately’
Children stand outside their tents at a camp set up for people displaced from Khan Yunis and areas north of Rafah, in the southern Gaza border city with Egypt on Feb. 15, 2024, amid continuing battles between Israel and the Palestinian Hamas movement. Mohammed Abed |...
Trump VP hopeful Kristi Noem suggests Biden’s dog should be put down
South Dakota Governor Kristi Noem speaks at the NRA-ILA Leadership Forum during the National Rifle Association (NRA) annual convention in Houston, Texas, U.S. May 27, 2022. Shannon Stapleton | ReutersRepublican South Dakota Gov. Kristi Noem implied that President Joe...
China’s president arrives in Europe to reinvigorate ties at a time of global tensions
Chinas President Xi Jinping (L) and his French counterpart Emmanuel Macron attend the official welcoming ceremony in Beijing on April 6, 2023. Ludovic Marin | AFP | Getty ImagesChinese President Xi Jinping kicked off a three-country trip to Europe on Sunday with the...
Netanyahu’s Cabinet votes to close Al Jazeera offices in Israel
(EDITORS NOTE: Image depicts death.) Wael Al-Dahdouh, Al Jazeera bureau chief in Gaza, center, comforts relatives at the funeral of his son, Al Jazeera journalist Hamza Dahdouh, killed in an Israeli airstrike, in Rafah, southern Gaza, on Sunday, Jan. 7, 2024. US...
France’s Macron set to press visiting Xi on trade, Ukraine
Chinas President Xi Jinping (L) and his French counterpart Emmanuel Macron attend the official welcoming ceremony in Beijing on April 6, 2023. Ludovic Marin | AFP | Getty ImagesChina's President Xi Jinping heads to Paris on Sunday for a rare visit, with his French...
Labour’s Sadiq Khan wins re-election as London mayor
Mayor of London Sadiq Khan hopes to convince U.S. tech firms to invest more in London.Leon Neal | Getty ImagesSadiq Khan was re-elected as London's mayor, final results showed on Saturday, helping to cement the Labour Party's commanding lead over the governing...
Why election polls were wrong in 2016 and 2020 — and what’s changing
Voters fill out their ballots on January 23, 2024 in Loudon, New Hampshire. With Florida Governor Ron DeSantis dropping out of the race two days earlier, Republican presidential candidates former President Donald Trump and former UN Ambassador Nikki Haley are battling...
RBI directs banks to restrict capital market exposure, BFSI News, ET BFSI
New Delhi [India], May 3 (ANI): The Reserve Bank of India (RBI) has issued directives to banks regarding their exposure to the capital markets, emphasizing compliance with prescribed guidelines. The latest circular, pertains specifically to the "Banks' Exposure to...
RBI imposes monetary penalty on Satara Sahakari Bank Limited, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has taken stringent action against The Satara Sahakari Bank Limited, Mumbai, Maharashtra, by imposing a monetary penalty of Rs 2 lakh for non-compliance with certain provisions of the Banking Regulation Act, 1949 (BR Act) and RBI...
Govt to buy back bonds worth Rs 40,000 crore; move to ease tight liquidity, ET BFSI
Mumbai: In a move that will ease the prevailing tight liquidity conditions in the banking system, the Reserve Bank of India on Friday said the Centre plans to buy back Rs 40,000 crore worth of government securities on May 9, the first such repurchase since 2018.The...
RBI issues draft guidelines on infrastructure finance, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has proposed to overhaul rules governing project lending to enable the flow of funds to infrastructure and, at the same time, ensure that the risk metrics are under control. It has stipulated minimum exposure of banks in consortium...
Centre for Financial Accountability urges RBI to broaden scope of climate-related financial risk framework, ET BFSI
In response to the Reserve Bank of India's (RBI) 'Draft Disclosure Framework on Climate-Related Financial Risks' released in February 2024, the Centre for Financial Accountability (CFA) has advocated for an expanded approach to assessing and addressing climate-related...
RBI proposes minimum loan exposure for project finance by banks, ET BFSI
The Reserve Bank of India (RBI) unveiled draft guidelines on project financing aimed at enhancing transparency and risk management in consortium lending, proposing a minimum loan exposure floor for banks and mandated standards for asset provisioning during project...
Guo Wengui chief of staff pleads guilty to $1 billion fraud
Fugitive Chinese billionaire Guo Wengui hold a news conference on November 20, 2018 in New York, on the death of of tycoon Wang Jian in France on July 3, 2018.Don Emmert | AFP | Getty ImagesThe chief of staff to controversial exiled Chinese businessman Guo Wengui...
Trump Media auditor charged by SEC with ‘massive fraud,’ permanently barred from public company audits
Rafael Henrique | Lightrocket | Getty ImagesThe auditing firm for Trump Media and the auditor's owner were charged Friday with "massive fraud" by the Securities and Exchange Commission for work that affected more than 1,500 SEC filings, the federal regulator...
Trump trial resumes after infamous Cohen phone call tape is played for jury
Former U.S. President Donald Trump attends the first day of his trial for allegedly covering up hush money payments at Manhattan Criminal Court on April 15, 2024 in New York City. Angela Weiss | Getty ImagesThis is developing news. Check back for updates throughout...
Forget any rate cut in 2024! What experts are predicting after Fed meeting, ET BFSI
Global stock markets heaved a sigh of relief last night when the world's most powerful central banker Jerome Powell assured investors that it is unlikely for the US Federal Reserve to go for a rate hike. After the Dow Jones ended higher overnight, the Sensex was also...
Trump SEC would end climate disclosure rule, target ESG investments
Republican presidential candidate and former U.S. President Donald Trump shouts during a campaign event in Freeland, Michigan, U.S. May 1, 2024. Brendan Mcdermid | ReutersThe Securities and Exchange Commission under a second Donald Trump presidency would roll back the...
Latest news on Russia and the war in Ukraine
German foreign minister says there will be consequences for Russian cyberattackAnnalena Baerbock (Alliance 90/The Greens), Foreign Minister, looks at a screen displaying a cyber exercise in the Australian Center for Cyber Cooperation.Sina Schuldt | Picture Alliance |...
Britain’s ruling Conservatives hit with another local defeat as general election nears
New Labour Party MP for Blackpool South, Chris Webb (C) reacts as his win is announced at the count centre in Blackpool, north-west England on May 3, 2024, during the Blackpool South by-election. Oli Scarff | Afp | Getty ImagesU.K. leader Rishi Sunak's Conservative...
RBI says 97.76% of Rs 2000 currency notes returned, BFSI News, ET BFSI
MUMBAI: The Reserve Bank of India (RBI) on Thursday said 97.76 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,961 crore worth of the withdrawn notes are still with the public.On May 19, 2023, the RBI announced the...
Trump campaign lawyers can’t quit workplace discrimination case
Republican presidential candidate and former U.S. President Donald Trump holds a campaign rally at Ted Hendricks Stadium in Hialeah, Florida, U.S. November 8, 2023. Octavio Jones | ReutersA New York federal judge on Thursday rejected — for now, at least — a request by...
U.S. intelligence chief warns Congress of rise in cyberattacks
Director of National Intelligence Avril Haines testifies before the Senate Armed Services Committee May 2, 2024 in Washington, DC.Win Mcnamee | Getty Images News | Getty ImagesThe top U.S. intelligence official warned Congress of an alarming rise in cyberattacks at a...
Trump Media IDs firms for House short selling probe
Omar Marques | Lightrocket | Getty ImagesThe CEO of Trump Media urged leading House committee chairmen to investigate eight financial firms over concerns of potentially illicit short selling of DJT, whose majority shareholder is former President Donald Trump."I...
Lawyer behind Stormy Daniels hush money payment testifies
Republican presidential candidate and former U.S. President Donald Trump walks, as his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016 continues, at Manhattan state court in New York...
‘Basel III’ bank rules could pose unexpected threat to Biden’s green energy plans
WASHINGTON, D.C. - On a rooftop overlooking Gallaudet University in Washington, D.C., Julian Torres stands next to row after row of solar panels his company, Scale Microgrids, helped install as part of a larger system of renewable energy that has saved the college...
Biden blames China, Japan and India’s economic woes on ‘xenophobia’
President Joe Biden said on Wednesday that "xenophobia" from China to Japan and India is hobbling their growth, as he argued that migration has been good for the U.S. economy.Kevin Lamarque | ReutersPresident Joe Biden said on Wednesday that "xenophobia"...
U.S. issues hundreds of sanctions targeting Russia, takes aim at Chinese companies
Ukrainian servicemen ride on an armored personnel carrier in a field near Chasiv Yar, Donetsk, on April 27, 2024, amid the Russian invasion of Ukraine. Genya Savilov | Afp | Getty ImagesThe United States on Wednesday issued hundreds of fresh sanctions targeting Russia...
Trump’s potential VP picks and major Republican donors are coming to Mar-a-Lago
Former U.S. President Donald Trump delivers remarks on the day of his court appearance in New York after being indicted by a Manhattan grand jury following a probe into hush money paid to porn star Stormy Daniels, in Palm Beach, Florida, U.S., April 4, 2023. Marco...
Lenders seek RBI clearance to sell Jaiprakash Associates loan to NARCL, ET BFSI
Mumbai: Lenders led by the State Bank of India have sought approval from the Reserve Bank of India to sell the ₹18,000 crore debt of realty company Jaiprakash Associates (JAL) to the National Asset Reconstruction Company of India (NARCL), said people with knowledge of...
Fed cites lack of progress on inflation, holds rates steady, ET BFSI
Washington: The Federal Reserve signaled fresh concerns about inflation as it reaffirmed it needs more evidence that price gains are cooling before cutting interest rates from a two-decade high.Officials unanimously decided to leave the target range for the benchmark...
Latest news on Russia and the war in Ukraine
Georgian police disperse protesters as parliament approves 'foreign bill' second readingDemonstrators set up a barricade to block the side entrance of Georgian Parliament during a rally against a controversial "foreign influence" bill, after parliament advanced the...
Trump campaign lawyers seek to quit discrimination case
Presidential candidate Donald Trump gestures in a press conference unveiling his comprehensive tax reform plan at Trump Tower. Andy Katz | Lightrocket | Getty ImagesA federal judge in New York scheduled a closed-door meeting Wednesday afternoon on a request by lawyers...
Harvey Weinstein will be retried in New York after rape conviction overturned
Harvey Weinstein uses a walker as he arrives at the Manhattan Criminal Court, on January 7, 2020 on the second day of his criminal trial on charges of rape and sexual assault in New York City.Timothy A. Clary | AFP | Getty ImagesHarvey Weinstein will be retried in New...
DOJ charges ‘Bitcoin Jesus’ with $48 million tax fraud, seeks extradition
Nicolas Economou | Nurphoto | Getty ImagesThe Justice Department unveiled criminal tax fraud charges this week against a prolific bitcoin investor named Roger Ver. He came to be known as "Bitcoin Jesus," for getting in early on the digital currency and making a...
DJT shares crack $50 as Trump Media continues stock bounce back
Former US president Donald Trump announced plans on October 20 to launch his own social networking platform called "TRUTH Social," which is expected to begin its beta launch for "invited guests" next month.Chris Delmas | AFP | Getty ImagesTrump Media shares opened...
Trump could drive inflation up with second-term economic agenda, analysts say
Republican presidential candidate former President Donald Trump speaks to guests during a rally at Clinton Middle School on January 06, 2024 in Clinton, Iowa. Scott Olson | Getty Images News | Getty ImagesFormer President Donald Trump is building a second-term...
Trump receives 36 million more shares of Trump Media as bonus
Republican presidential candidate and former U.S. President Donald Trump gestures as he arrives to Trump tower during the day of his trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in New York...
Ex-RBI Guv Duvvuri Subbarao, ET BFSI
Former RBI Governor Duvvuri Subbarao has opined that only enlightened leadership at Centre and state levels can resolve the complex north-south divide in deciding on the distribution of the tax pool among states, saying it is beyond the remit of the Finance...
Trump Media insider trading trial begins in New York
Bruce Garelick walks following a hearing at the Manhattan Federal Court, in New York City, July 20, 2023.Amr Alfiky | ReutersThe federal criminal trial of a man accused of insider trading in shares of a shell company ahead of its announcement of a plan to merge with...
New York City police arrest dozens of pro-Palestinian protesters in Columbia University raid
NYPD officers arrest students as they evict a building that had been barricaded by pro-Palestinian student protesters at Columbia University, in New York City on April 30, 2024.Charly Triballeau | AFP | Getty ImagesNew York City police arrested dozens of...
Central bank bars P2P startups from giving default loss guarantee in tie-ups with NBFCs, ET BFSI
The central bank has said peer-to-peer lending platforms cannot offer any default loss guarantee (DLG) to investors, as it furthers scrutiny on the digital lending sector.The Reserve Bank of India’s directive dated April 26 is likely to impact operations of P2P...
police crack down on protests in Georgia
Protestors clash with the police as they block the exists of the parliament building to prevent the ruling Georgian Dream Party's deputies from leaving within a protest against the bill on 'Transparency of Foreign Influence,' in Tbilisi, Georgia on April 30, 2024....
RBI updates guidance note on operational risk management, extends it to NBFCs, ET BFSI
The Reserve Bank on Tuesday updated its "guidance note" on operational risk management for the financial sector, and also extended it to the NBFCs, including housing finance companies. The 2005 'Guidance Note on Management of Operational Risk' covered only commercial...
RBI cautions banks on gold loan disbursals through fintech startups, ET BFSI
The Reserve Bank of India (RBI) has cautioned banks about gold loan disbursals being made through fintech startups, according to people familiar with the matter. The central bank has flagged “concerns with the evaluation process” by these banks and fintechs,...
Latest news on Russia and the war in Ukraine
Russia could be shifting focus onto strategic target, Chasiv YarRussian forces appear to be shifting their operational focus on to Chasiv Yar in the northern area of Donetsk, in eastern Ukraine.Russia did not make any confirmed advances in the Avdiivka area for the...
Trump Media shares rise again; are up 50% in the last week
Jonathan Raa | Nurphoto | Getty ImagesTrump Media shares climbed 7% Tuesday, continuing a rise that has seen the Truth Social owner surge about 50% in the past week.DJT was trading at roughly $50 a share, about 30% below its opening price of $70.90 in late March.The...
Biden replaces Obama infrastructure policy amid Chinese cyberthreats
US President Joe Biden speaks after signing the foreign aid bill at the White House in Washington, D.C., on April 24, 2024.Jim Watson | AFP | Getty ImagesPresident Joe Biden on Tuesday updated a more than decade-old policy to protect U.S. critical infrastructure...
Hush money case resumes with testimony from Michael Cohen banker
Former U.S. President Donald Trump speaks to members of the media at Manhattan criminal court in New York, U.S., on Friday, April 26, 2024. Curtis Means | Via ReutersThis story is developing. Check back for updates throughout the day.The New York criminal trial of...
Save lakhs in interest cost? What RBI’s new rules for interest overcharging on loans mean for borrowers, ET BFSI
Has your lender been overcharging you interest for loans? The Reserve Bank of India has come across instances of lenders resorting to certain unfair practices in charging of interest. The same has been flagged by the central bank in a new notification dated April 29,...
RBI issues draft framework for electronic trading platforms, BFSI News, ET BFSI
The Reserve Bank of India on Monday proposed a revised regulatory framework for Electronic Trading Platforms (ETPs) in the wake of increased integration of the onshore forex market with offshore markets. Market makers too have been requesting the Reserve Bank to allow...
RBI directs lenders to review their lending practices in line with fair practice code, ET BFSI
The Reserve Bank of India (RBI) on Monday directed regulated entities to review their lending practices in line with fair practice code after it found that some lenders are resorting to certain unfair practices in charging interest rates, a statement issued by the...
RBI launches two key surveys for monetary policy inputs, BFSI News, ET BFSI
MUMBAI: The Reserve Bank of India (RBI) on Monday announced the launch of 'Inflation Expectations Survey of Households' and 'Consumer Confidence Survey' which will provide key inputs for the bi-monthly monetary policy. The next bi-monthly monetary policy is scheduled...
Understanding the impact on MSMEs, startups & other sectors, ET BFSI
Evergreen loans pose a systemic risk to the financial system. These are essentially loans that are perpetually renewed, preventing genuine repayment and masking potential defaults.In scaling up any business, the initial hurdle often revolves around the requirement for...
Latest news on Russia and the war in Ukraine
Russia likely used ballistic missile with cluster warhead in Odesa attack, official saysRussian forces used an Iskander missile armed with a cluster warhead to carry out the deadly strike on a crowded seaside area of Odesa on Monday, an official said.Dmytro...
Trump Media shares soar more than 12% in afternoon trading
Jonathan Raa | Nurphoto | Getty ImagesThe share price of Trump Media soared by more than 12% in afternoon trading Monday, continuing a stunning rise that began in mid-April.The DJT ticker was up more than $5 per share just before 1 p.m. ET.Trump Media owns the Truth...
Supreme Court denies Trump aide Navarro’s jail release bid
Former Donald Trump adviser Peter Navarro holds a press conference before turning himself into a federal prison on March 19, 2024, in Miami, Florida. Joe Raedle | Getty ImagesThe Supreme Court on Monday denied a request by Peter Navarro, a former advisor to...
Scottish First Minister Humza Yousaf resigns
Scottish First Minister Humza Yousaf speaks to the media during a visit to a housing development on April 26, 2024 in Dundee, Scotland. Jeff J Mitchell | Getty ImagesScottish First Minister Humza Yousaf resigned Monday after the collapse of his power-sharing agreement...
Trump VP contender Kristi Noem defends dog killing amid ridicule
South Dakota Governor Kristi Noem greets former U.S. President and Republican presidential candidate Donald Trump before he speaks at a South Dakota Republican party rally in Rapid City, South Dakota, U.S. September 8, 2023. Jonathan Ernst | ReutersRepublican South...
Germany’s AfD is finding success on TikTok as its youth vote grows
Cardboard stands with the AfD logo lie on the chairs in the Wiesenhalle before the start of the AfD Brandenburg state party conference.Monika Skolimowska/dpa | Picture Alliance | Getty ImagesGermany's far-right Alternative für Deutschland (AfD) has gone from the...
Expectations of future monetary policy impact stock markets more than rate announcements: RBI paper, ET BFSI
MUMBAI: Equity markets are impacted more by the expectations of future monetary policy than the policy rate surprises on the day of announcement of the policy by the Reserve Bank, said an analysis. According to a working paper prepared by RBI officials, the regulatory...
Only U.S. has the ability to break the cycle of Gaza violence: Egyptian foreign minister
Egypt's Foreign Minister Sameh Shoukry called on the U.S. to leverage its influence over Israel to prevent further bloodshed in Gaza.Speaking to CNBC's Dan Murphy on Sunday at a World Economic Forum meeting in Riyadh, Saudi Arabia, he said "only the United States has...
Powell poised to keep Fed on higher-for-longer path, ET BFSI
Jerome Powell's remarks in the coming week will be closely parsed by investors for any clues on just how long the Fed is willing to wait before cutting interest rates. The last time the US central bank chair spoke, he signaled that policymakers were likely to keep...
Latest news on Russia and the war in Ukraine
Ukraine desperate for U.S. military aid to arriveUkrainian President Volodymyr Zelenskyy gestures during a press conference on the day of the Ukraine Southeast Europe Summit in Tirana, Albania, February 28, 2024. Florion Goga | ReutersUkraine's President Volodymyr...
RBI MPC member, BFSI News, ET BFSI
New Delhi, Unemployment is highest for younger age brackets, but it is 'transient' as Indian youths spend more time acquiring skills and trying hands at entrepreneurship, RBI Monetary Policy Committee (MPC) member Ashima Goyal has said. There is steady improvement in...
RBI draft rules, ET BFSI
The Reserve Bank of India (RBI) has released a draft circular outlining a framework for loan product aggregation by lending service providers (LSPs) to enhance transparency for borrowers in the credit intermediation process. This initiative aims to address the...
Sebi allows AIFs to pledge shares in invested cos in infra sector, ET BFSI
New Delhi, To facilitate ease of doing business, markets regulator Sebi on Friday allowed AIFs (alternative investment funds) to pledge their shares in investee companies in the infrastructure sector. The regulator has also provided additional flexibility to AIFs and...
RBI sets rules for loan e-aggregators, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India has updated its guidelines for web aggregators of loans to ensure that consumers get a fair and transparent deal. The RBI has also clarified guidelines on loss default guarantees that can be provided by fintechs to lenders on personal...
HC asks RBI to relook at valuation, BFSI News, ET BFSI
MUMBAI: The Madras HC has asked RBI to carry out a valuation of shares and assets of DBS Bank India and Lakshmi Vilas Bank as on the date before their amalgamation in Nov 2020. RBI has been asked to take a fresh decision on reduction of the value of shares and writing...
Oil refinery in Russia region damaged in Ukraine drone attack: Authorities
Slavyansk oil refinery in Russia's Krasnodar region was damaged in a Ukraine drone attack, local authorities said on Saturday. There were a total of nine attacks on the tank farm and distillation column, Roman Siniagovskyi, head of the Slavyansk administrative...
FPI investment limit in g-sec unchanged at 6% of outstanding stocks of securities for FY25: RBI, ET BFSI
The Reserve Bank on Friday said the limits for FPI investment in government securities, state development loans and corporate bonds will remain unchanged at 6 per cent, 2 per cent and 15 per cent, respectively, of outstanding stocks of securities for the current...
Former Moody’s top lawyer pleads guilty in tax case
Moody's Corporation logo is photographed on the firm's headquarters in Lower Manhattan, NY. Ramin Talaie | Corbis Historical | Getty ImagesA former longtime general counsel to Moody's has pleaded guilty to willfully failing to file federal income tax returns, federal...
Trump trial: Defense continues cross-examination of National Enquirer publisher David Pecker: Live updates
Former U.S. President Donald Trump sits in the courtroom at Manhattan criminal court in New York on April 26, 2024.Jeenah Moon | Via ReutersThis is a developing story and will be updated throughout the day.Defense attorneys for former President Donald Trump continued...
Ashley Biden, in unsealed letter to judge, detailed ‘pain’ from diary theft
US social worker and daughter of the US president Ashley Biden speaks on stage during the Human Rights Campaign's 2024 Los Angeles dinner at the Fairmont Century Plaza in Los Angeles, March 23, 2024. Michael Tran | AFP | Getty ImagesAshley Biden, the daughter of...
U.S., China to hold first AI talks, TikTok stalemate ongoing
U.S. Secretary of State Antony Blinken waves as he prepares to depart Shanghai Hongqiao International Airport en route to Beijing, on April 25, 2024. Mark Schiefelbein | Afp | Getty ImagesThe U.S. and China will hold their first high-level talks on artificial...
Latest news on Russia and the war in Ukraine
China must stop supporting Russia if it wants better relations with West: NATO chiefNATO Secretary General Jens Stoltenberg speaks during a press conference at the International Monetary Fund and World Bank annual meeting in Marrakech, Morocco, October 11, 2023.Susana...
RBI crackdown on consumer credit surge set to hit bank’s co-lending of unsecured loans, ET BFSI
Banks and non-bank lenders are reassessing their personal loan portfolios, leading to a potential decline in the proportion of personal loans within overall co-lending assets under management.The Reserve Bank of India's revision in risk weight on unsecured consumer...
Pecker believed Trump would repay Playboy model hush money
Donald Trump sits in a Manhattan Criminal Courtroom with members of his legal team for the continuation of his hush money trial on April 25, 2024 in New York City. Spencer Platt | Via ReutersFormer National Enquirer publisher David Pecker on Thursday said he believed...
RBI plans curbs on suspect bank accounts to fight cyber fraud, ET BFSI
India's central bank plans to soon change guidelines to permit banks to temporarily freeze accounts suspected of being used to commit cyber crimes, as it battles a rising wave of online crime, three sources told Reuters.The plans come as internal government data shows...
Supreme Court hears Trump immunity arguments in election interference case
U.S. President Donald Trump delivers an update on the so-called Operation Warp Speed program, the joint Defense Department and HHS initiative that has struck deals with several drugmakers in an effort to help speed up the search for effective treatments for the...
Latest news on Russia and the war in Ukraine
U.K. Finance Minister Jeremy Hunt visits KyivBritish Finance Minister Jeremy Hunt met with Ukrainian President Volodymyr Zelenskyy in Kyiv, the Ukrainian leader said Thursday. "I welcomed the UK's Chancellor of the Exchequer, @Jeremy_Hunt, and thanked him for the UK's...
Speaker Johnson drowned out by crowds at Columbia speech on Gaza protests
Speaker of the U.S. House of Representatives Mike Johnson (R-LA) attends a news conference at Columbia University in response to demonstrators protesting in support of Palestinians, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in...
How did the macroeconomic indicators perform in March 2024?, ET BFSI
~ Ritesh and Shrishti SharmaThe Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) maintained its stance on the policy repo rates unchanged at 6.5 per cent for the seventh straight time in April’s RBI policy decision. Governor Shaktikanta Das discussed...
Senate launches investigation into high prices of Ozempic and Wegovy in the U.S.
The anti-diabetic medication "Ozempic" (semaglutide) made by Danish pharmaceutical company Novo Nordisk.Joel Saget | AFP | Getty ImagesThe U.S. Senate has launched an investigation into the high price of Novo Nordisk's popular weight loss and diabetes drugs Ozempic...
Chamber of Commerce sues FTC for banning noncompete clauses
FTC Chairwoman Lina Khan testifies during a budget hearing of the House Energy and Commerce Subcommittee on Innovation, Data, and Commerce, April 18, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesThe U.S. Chamber of Commerce and several other business groups on...
Trump Media CEO asks House GOP to launch stock manipulation probe
Rep. Devin Nunes, R-Calif., ranking member of the House Intelligence Committee, speaks during an impeachment inquiry hearing in Washington, Nov. 13, 2019.Andrew Harrer | Bloomberg | Getty ImagesTrump Media CEO Devin Nunes on Tuesday urged House Republican committee...
Biden signs Israel, Ukraine, TikTok bill into law
President Joe Biden on Wednesday signed into law measures to provide aid to Israel, Ukraine and Taiwan, as well as to compel Chinese TikTok parent company ByteDance to sell the social media platform or face a national ban.Biden's official approval ends a six-month...
RBI raises minimum capital requirement for ARCs to begin securitization, ET BFSI
The Reserve Bank of India (RBI) on Wednesday released a compiled master direction for the asset reconstruction companies (ARCs) raising the minimum capital requirement to begin securitization to Rs 300 crore from Rs 100 crore as on October 11, 2022. Notably, the RBI...
Biden issues new rules for airlines to require automatic cash refunds, prohibit surprise fees
If an airline cancels your flight, remember that you're entitled to a full refund.Bunhill | E+ | Getty ImagesThe Biden administration on Wednesday unveiled two new rules that will directly affect the millions of Americans who fly commercially every year. The first...
RBI asks payment system operators to keep vigil on high-value and suspicious transactions, ET BFSI
As India's Lok Sabha elections unfold, the Reserve Bank of India (RBI) has taken proactive steps to safeguard the electoral process against potential financial influence. The central bank has directed non-bank payment system operators (PSOs) to heighten vigilance over...
ByteDance, TikTok spent over $7 million on lobbying, ad campaign
Omer Taha Cetin | Anadolu | Getty ImagesTikTok and its China-based parent company ByteDance combined to spend over $7 million so far this year to try and stop Congress from passing legislation that could ban the social media app in the United States.ByteDance alone...
Not activating counter-cyclical capital buffer, says RBI, BFSI News, ET BFSI
The Reserve Bank on Tuesday said it has decided against activating the countercyclical capital buffer (CCyB), as it is not needed in the present circumstances. The framework on the countercyclical capital buffer (CCyB) was put in place by the Reserve Bank of India...
FTC votes to ban noncompete clauses that bar employees from working for competitors
Federal Trade Commission Chair Lina Khan testifies before a House Judiciary Committee hearing on Oversight of the Federal Trade Commission, on Capitol Hill in Washington, D.C., July 13, 2023.Kevin Wurm | ReutersThe Federal Trade Commission on Tuesday voted 3-2 for a...
RBI economists cautious as inflation risks linger, BFSI News, ET BFSI
Mumbai: A blistering summer and complex geopolitics pose near-term risks to prices and, in turn, to India’s consumer inflation gauge that has, however, come off its peak amid the average economic expansion of 8% in the first three quarters of FY24, central bank...
RBI’s dollar purchases in Feb highest since June 2021, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India (RBI) bought $8.5 billion in the foreign exchange market on a net basis in February, the highest net purchase by the central bank in 32 months, latest data showed.In January, the RBI had net purchased $1.9 billion in the spot market,...
Latest news on Russia and the war in Ukraine
Court arrests Russian deputy defence minister on bribery chargesA Russian court on Wednesday formally arrested Deputy Defense Minister Timur Ivanov and charged him with bribery, the court said, following his detention on Tuesday.The court remanded Ivanov in custody...
Senate advances aid for Israel, Ukraine, Taiwan, TikTok bill
Senate Majority Leader Charles Schumer, D-N.Y., conducts a news conference after the senate luncheons in the U.S. Capitol on Tuesday, March 12, 2024. Tom Williams | CQ-Roll Call, Inc. | Getty ImagesThe Senate on Tuesday advanced a package to provide billions in aid to...
Trump Media shares plunge before former president’s stock bonus
Jonathan Raa | Nurphoto | Getty ImagesTrump Media shares fell 9% Tuesday ahead of an expected earnout bonus for former President Donald Trump.DJT was trading at $32 per share Tuesday afternoon, about 50% below its opening price last month of more than $70.Trump will...
Hearing on gag order violations; David Pecker testimony
Republican presidential candidate and former U.S. President Donald Trump looks on in the courtroom, as his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016 continues, at Manhattan state...
Billionaire donors rethink Columbia University support
Nassau County Executive Bruce A Blakeman speaks in front of the entrance of Columbia University which is occupied by pro-Palestian protesters in New York on April 22, 2024. Charly Triballeau | AFP | Getty ImagesBillionaire donors like Robert Kraft and Leon Cooperman...
Oracle met with Senate aides on TikTok data housing project
Oracle's top lobbyist in Washington met privately with Senate aides about the company's data housing agreement with TikTok this spring, after a bill that could effectively ban the social media app in the United States passed the House in mid-March.Oracle acts as the...
AUKUS won’t trigger a nuclear arms race in the region
U.S. President Joe Biden delivers remarks on Australia, United Kingdom, United States (AUKUS) Partnership as Prime Minister Rishi Sunak of the United Kingdom and Prime Minister Anthony Albanese of Australia participate at Naval Base Point Loma in San Diego,...
Govt bonds worth Rs 32,000 crore to be auctioned on April 26, ET BFSI
New Delhi, The Finance Ministry on Monday announced the sale of government bonds worth Rs 32,000 crore in two categories on April 26 (Friday). The first lot comprises "7.1 per cent Government Security 2034" for an amount of Rs 20,000 crore while the second lot...
Latest news on Russia and the war in Ukraine
Russia warns it will retaliate if West seizes frozen assetsA close ally of Russian President Vladimir Putin warned Tuesday that Russia is ready to retaliate if almost $300 billion of frozen Russian assets are seized by the West and used to assist Ukraine."The...
Trump set to get millions more Trump Media shares
Anna Barclay | Getty ImagesFormer President Donald Trump is poised to receive an additional 36 million shares of Trump Media Tuesday — an "earnout" bonus worth more than $1.25 billion, at Monday's price.Trump Media, which owns the Truth Social app, was trading at...
European Central Bank governors fear Fed-style ‘dot plot’ would invite political pressure: Sources, ET BFSI
WASHINGTON - European Central Bank governors fear publishing their interest rate forecasts would invite pressure from governments trying to gauge if their central banker was serving their domestic agenda, sources told Reuters in a sign an idea to follow the U.S....
RBI MPC member Shashanka Bhide, ET BFSI
Sustaining the economic growth momentum of 7 per cent in 2024-25 and beyond is feasible on the back of favorable monsoon, higher farm productivity and improved global trade, RBI Monetary Policy Committee (MPC) member Shashanka Bhide said on Monday. During 2023-24, the...
Trump trial set to begin opening statements, first witness testimony
Republican presidential candidate and former U.S. President Donald Trump looks on as his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016 continues, at Manhattan state court in New York...
German finance watchdog orders Commerzbank to pay 1.45 mn euro fine, ET BFSI
BERLIN - German financial watchdog BaFin has ordered Commerzbank to pay a fine of 1.45 million euros ($1.55 million) for breaching its anti-money laundering duties, the regulator said on Monday."Commerzbank AG and the former comdirect Bank AG, of which Commerzbank AG...
UK finance watchdog should not publicise probes sooner, lawmakers say, ET BFSI
LONDON - Britain's financial watchdog should drop plans to publicise its investigations sooner until a thorough analysis of its impact has been completed, a committee of lawmakers from parliament's upper house said on Monday.The Financial Conduct Authority (FCA)...
RBI’s mandate on KFS to address MSME credit gap, promote equitable lending, ET BFSI
In order to assist borrowers in navigating the complexities of loan terms and conditions while upholding regulatory standards, the Reserve Bank of India (RBI) has asked all lenders to provide key fact statements (KFS), with effect from 01 October, 2024.It is an...
Why has RBI’s Direct platform for retail investors in govt bonds not picked up?, ET BFSI
The Reserve Bank of India's (RBI) Retail Direct platform, aimed at increasing retail investor participation in the government bond market, has struggled to gain traction due to complex settlement mechanisms and liquidity issues, according to market participants.Prime...
Israel’s military intel chief resigns over failures surrounding Oct. 7
Tanks, armored vehicles and military machinery belonging to the Israeli army on April 17, 2024. Anadolu | Anadolu | Getty ImagesThe intelligence chief of Israel's Defense Forces has resigned citing failures linked to the Hamas terror attack carried out on Oct. 7,...
Once Adani-heavy, 8 FPIs look to settle with Sebi, ET BFSI
Mumbai: More than half a dozen foreign portfolio investors (FPIs) that owned substantial stakes in Adani Group firms are looking to settle securities violation matters with markets regulator Sebi, said people familiar with the matter. They have agreed to pay a certain...
Inflation sustainably moving towards RBI target enough for a rate cut: Ashima Goyal, ET BFSI
Consumer price index (CPI) inflation does not have to touch the Reserve Bank of India's 4% target, but sustainably move towards that mark for interest rates to be lowered, Ashima Goyal, external member of the central bank's monetary policy committee (MPC), told ET....
Blinken to warn China over support for Russia’s military during trip
US Secretary of State Antony Blinken (L) and China's Foreign Minister Qin Gang shake hands ahead of a meeting at the Diaoyutai State Guesthouse in Beijing on June 18, 2023. Leah Millis | AFP | Getty ImagesU.S. Secretary of State Antony Blinken will warn China about...
Government has warned against this government bank’s fake app and stock trading apps, ET BFSI
Late last year, the government warned State Bank of India (SBI) account holders of a fake SMS scam. A message circulating via SMS claiming to be from State Bank of India's (SBI) official channel asked users to update their PAN card. It threatened SBI account holders,...
Latest news on Russia and the war in Ukraine
Russia slams U.S. aid package, saying it will 'ruin Ukraine'Russia has, predictably, reacted angrily to a new U.S. $61 billion aid package for Ukraine, claiming that it will only lead to more carnage in the conflict.Kremlin spokesperson Dmitry Peskov said Saturday...
RBI directs payment firms to track high-value, fishy transactions during elections, ET BFSI
The Reserve Bank of India (RBI) has instructed all regulated payment companies to monitor high-value or suspicious transactions during the general elections, as per multiple senior executives familiar with the matter. In a letter dated April 15, the central bank...
Trump wins on inflation as Biden centers tariffs, jobs: NBC News poll
Joe Biden and Donald Trump 2024.Brendan Smialowski | Jon Cherry | Getty ImagesMore voters trust Donald Trump than President Joe Biden to deal with inflation and the cost of living, their top concerns for the U.S., according to the latest NBC News poll.The poll of...
Russia says deeper U.S. hybrid war using Ukraine will end in Vietnam-style humiliation
In this pool photograph distributed by Russia's state agency Sputnik, Russian President Vladimir Putin meets with the country's Labour and Social Protection Minister in Moscow on April 10, 2024. Gavriil Grigorov | AFP | Getty ImagesRussia said on Sunday that U.S....
Trump Media CEO says he’ll do ‘whatever it takes’ to defend DJT investors from short sellers
Devin Nunes, chief executive officer of Truth Social, speaks during the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, US, on Thursday, March 2, 2023. Al Drago | Bloomberg | Getty ImagesTrump Media CEO Devin Nunes on Friday said he would...
Finance ministry may have this plan to deal with frauds, ET BFSI
The Finance Ministry is reportedly proposing stricter measures to protect citizens from cyber fraud. This comes after a surge in incidents, including the recent Bank of Baroda World app scam. These measures are said to be part of a broader national effort to combat...
Trump cancels North Carolina rally due to storm
Former U.S. President Donald Trump enters Manhattan Criminal Court after a lunch break during his trial for allegedly covering up hush money payments on April 19, 2024 in New York City. Spencer Platt | Via ReutersU.S. Republican presidential candidate Donald Trump...
House Republicans will not move forward with vote to remove Johnson as Speaker today, Green says
Rep. Marjorie Taylor Greene says she will let her fellow House Republicans hear from their constituents before deciding whether to move forward with a vote to remove Speaker Mike Johnson.Greene made the remarks to a gaggle of reporters aired on CNN after the House...
House passes Ukraine, Israel, Taiwan aid, potential TikTok ban
Speaker of the House Mike Johnson, R-La., conducts a news conference in the U.S. Capitol after the House passed the foreign aid package rule on Friday, April 19, 2024.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesThe House on Saturday passed a series of bills to...
Trump berates judge for ‘rushed’ hush money trial, days before opening statements
Former US President Donald Trump sits in the courtroom at Manhattan criminal court in New York, US, on Thursday, April 18, 2024. Jeenah Moon | ReutersDonald Trump on Saturday took to social media to deliver another tirade against the judge and the circumstances of his...
Senate passes reauthorization of a key U.S. surveillance program after midnight deadline
After its midnight deadline, the Senate voted early Saturday to reauthorize a key U.S. surveillance law after divisions over whether the FBI should be restricted from using the program to search for Americans' data nearly forced the statute to lapse.The legislation...
US House to vote on long-awaited $95 billion Ukraine, Israel aid package
A view of the U.S. Capitol.Chip Somodevilla | Getty ImagesThe Republican-controlled U.S. House of Representatives on Saturday is set to vote on, and expected to pass, a $95 billion legislative package providing security assistance to Ukraine, Israel and Taiwan, over...
Need to preserve success on inflation control on durable basis, RBI governor at MPC, ET BFSI
MUMBAI: The success in controlling inflation has to be preserved and taken forward to achieve a 4 per cent inflation target on a durable basis, RBI Governor Shaktikanta Das stressed during the MPC meeting even as other members expressed concerns over the impact of...
Forex drop by $5.40 billion to $643.16 billion for the week ended April 12: RBI, ET BFSI
MUMBAI: India's foreign exchange reserves declined by $5.4 billion to $643.16 billion for the first time in eight weeks as of April 12, as per data released by the Reserve Bank of India.This is the steepest decline in Forex in over three months. Earlier, it rose by...
MPC stresses need for aligning to the 4 per cent target on a durable basis, ET BFSI
Aligning inflation to the 4 percent target on a durable basis is the prime concern for the monetary policy committee (MPC) members. Even though inflation is reined in, concerns over food inflation are not abated and at the same time strong growth indicators give a...
New York AG seeks to void Trump business fraud bond
Former President Donald Trump returns from a lunch break at Manhattan criminal court as jury selection continues in New York on April 18, 2024.Jabin Botsford | ReutersThe New York Attorney General's office on Friday asked a judge to effectively void a $175 million...
Citadel Securities blasts Trump Media CEO over DJT short sale letter
Devin Nunes, chief executive officer of Truth Social, speaks during the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, US, on Thursday, March 2, 2023. Al Drago | Bloomberg | Getty ImagesCitadel Securities ripped Trump Media CEO Devin...
Man sets himself on fire at New York courthouse
Fire extinguishers (R) are left at the park across from Manhattan Criminal Court in New York City after a man reportedly set himself on fire during the trial of US President Donald Trump, in New York City on April 19, 2024. Angela Weiss | AFP | Getty ImagesA man set...
Norway wealth fund backs proposal to split Goldman CEO, chair roles, ET BFSI
STOCKHOLM - Norway's $1.6 trillion sovereign wealth fund, one of the world's largest investors, will support a resolution calling for Goldman Sachs to split the roles of CEO and board chair, it said on Friday.Proxy advisors Institutional Shareholder Services (ISS) and...
Trump trial set to pick final alternate jurors for hush money case
Republican presidential candidate and former U.S. President Donald Trump departs on the day of his trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, outside Trump Tower, in New York City, U.S. ,...
Trump Media alerts Nasdaq to potential DJT stock manipulation
Jonathan Raa | Nurphoto | Getty ImagesTrump Media has warned the CEO of the Nasdaq Stock Market of 'potential market manipulation' of the company's stock by "naked" short selling of shares.The warning came as Trump Media has offered shareholders detailed instructions...
All-out war, or measured retaliation?
A banner depicting missiles and drones flying past a torn Israeli flag, with text in Persian reading "the next slap will be harder" and in Hebrew "your next mistake will be the end of your fake state", hangs on the facade of a building in Palestine Square in Tehran on...
Sebi comes out with standard format for AIF PPM audit report, ET BFSI
In order to have uniform compliance standards and for ease of compliance, markets regulator Sebi on Thursday came out with a standard reporting format for alternative investment fund (AIF) pertaining to Private Placement Memorandum (PPM) audit report. The reporting...
New York jury convicts man in cryptocurrency market manipulation
Las Vegas Review-journal | Tribune News Service | Getty ImagesA New York federal jury on Thursday convicted a Puerto Rico man of a $110 million scheme that was the Department of Justice's first-ever cryptocurrency open-market manipulation case, prosecutors said.The...
Vietnam central bank says it stands ready to intervene in forex market, ET BFSI
HANOI - Vietnam's central bank is ready to immediately intervene in the foreign exchange market in case of adverse economic impacts from currency moves, its deputy governor said on Friday, noting it had already taken measures to reduce pressure on the currency.The...
Israel carries out limited strike against Iran, source says
An Iranian flag is pictured near in a missile during a military drill, with the participation of Iran’s Air Defense units, Iran October 19, 2020.WANA News Agency| ReutersIsrael launched a limited direct military attack on Iranian soil early Friday morning, marking the...
RBI imposes Rs 60.3 lakh penalty on five co-operative banks, BFSI News, ET BFSI
The Reserve Bank has imposed penalties totalling Rs 60.3 lakh on five co-operative banks for contravention of various regulatory norms. A penalty of Rs 43.30 lakh has been imposed on Rajkot Nagarik Sahakari Bank for non-compliance with RBI directions on 'ban on loans...
Fed’s rate-cut foot-dragging grates on global peers at IMF meetings, ET BFSI
WASHINGTON - Finance chiefs from economies large and small are scrambling to keep pace with the Federal Reserve's rapid resetting of rate-cut expectations as U.S. inflation data roils markets from London to Brazil.All insist they are setting policy independently of...
Latest news on Russia and the war in Ukraine
'We must defeat Russian terror': Zelenskyy renews call for stronger air defensesUkrainian gunners of the 14th Separate Mechanised Brigade named after Prince Roman the Great, fire at the enemy with BM 21 "Grad" MLRS at a position near the town of Kupyansk, Kharkiv...
TikTok doubles ad buy to fight potential U.S. ban in Congress
Giovanna Gonzalez of Chicago demonstrates outside the U.S. Capitol following a press conference by TikTok creators to voice their opposition to the “Protecting Americans from Foreign Adversary Controlled Applications Act," pending crackdown legislation on TikTok in...
U.S. unveils sanctions on Iran’s drone program following Israel attack
Unidentified men are carrying a model of Iran's first-ever hypersonic missile, Fattah, past a mosque during a gathering to celebrate the IRGC UAV and missile attack against Israel, in Tehran, Iran, on April 15, 2024. Morteza Nikoubazl | Nurphoto | Getty ImagesThe...
Bank of Japan’s Noguchi says future rate hikes likely to be slow, ET BFSI
SAGA, Japan - Bank of Japan board member Asahi Noguchi said on Thursday the pace of future rate hikes would likely be much slower than that of its global peers in recent policy tightenings, as the impact of rising domestic wages has yet be fully passed onto...
Investor climate group sets target for assets in private equity, debt, ET BFSI
LONDON - The world's leading group of asset owners committed to turning their investment portfolios green said on Thursday it had set guidance for private assets for the first time and would also look to improve assessment of emissions tied to sovereign debt...
Apple, Tesla investments boost Modi
Google CEO Sundar Pichai and Apple CEO Tim Cook listen as India's prime minister, Narendra Modi, speaks during a meeting with senior officials and CEOs of American and Indian companies, in the White House in Washington, D.C., on June 23, 2023.Brendan Smialowski | AFP...
Trump Media shares soar by more than 20% on second day of strong gains
In this photo, a smartphone displays the logo of Donald Trump's Truth Social app on March 25, 2024.Anna Barclay | Getty ImagesThe share price of Trump Media soared by more than 20% Thursday, the second day in a row of strong gains for the owner of the Truth Social...
Qatar re-evaluates key mediator role in Middle East conflict
U.S. Secretary of State Antony Blinken is greeted by Qatari officials upon his arrival in Doha, Qatar, Friday Oct. 13, 2023.Jacquelyn Martin | ReutersQatar is reconsidering its role as cease-fire broker between Israel and Palestinian militant group Hamas, the Gulf...
India’s policies subject to whims & fancies? Raghuram Rajan, Surjit Bhalla weigh in on why foreign investment is down, ET BFSI
NEW DELHI: India, the world’s fastest-growing major economy in recent years, is struggling to find a consistent flow of foreign investment as investors are spooked by the lack of steady and sustainable policies by New Delhi, economists said.Raghuram Rajan, former...
Trump trial loses juror who shared concerns about getting ID’d
Former U.S. President Donald Trump sits in the courtroom during his trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in Manhattan state court in New York City, U.S. April 18, 2024. Brendan...
Trump Media tells DJT shareholders how to block short sellers
Jonathan Raa | Nurphoto | Getty ImagesTrump Media is making a point of telling its shareholders how to prevent their stock from being loaned to short sellers — who bet the price of the shares will drop.The short-selling-prevention tips posted Wednesday on Trump...
How will markets move in runup to Budget after elections? Samir Arora answers, ET BFSI
"I think the Budget will be very good because it will be related to divestments. I think it will be related to unlocking of real estate, of PSUs, I am just doing big picture that you cannot make it transformational and simultaneously cut the deficit," says Samir...
Senate dismisses two articles of impeachment against Homeland Security secretary, ends trial
U.S. Homeland Security Secretary Alejandro Mayorkas testifies before the House Homeland Security Committee about the Biden Administration's FY2025 budget request in the Cannon House Office Building on Capitol Hill on April 16, 2024 in Washington, DC. Chip Somodevilla...
Biden says Trump shouldn’t be Commander in Chief ‘for my son’
U.S. President Joe Biden delivers remarks at the Unitedsteel Workers headquarters in Pittsburgh, Pennsylvania, on April 17, 2024.Elizabeth Frantz | ReutersPresident Joe Biden on Wednesday choked up as he blasted Donald Trump, saying the presumptive Republican...
Banks see delay in rate cuts by RBI, too, ET BFSI
Mumbai: A delay by the US Federal Reserve in reducing rates is likely to weigh on Mint Road's decision on starting its own policy rate-easing cycle. After Morgan Stanley and Kotak Bank, IDFC Bank now expects India's central bank to defer its rate easing call, perhaps...
RBI’s stricter KYC rules may slow merchant onboarding 90%: experts, ET BFSI
The Reserve Bank of India’s (RBI) draft norms around stricter Know Your Customer (KYC) rules for payment aggregators could slow the onboarding of online merchants by as much as 90%, industry insiders said.The new rules will be applicable to existing players across...
China slams U.S. probe into its shipbuilding industry for ‘unfair practices’
U.S. President Joe Biden and Chinese President Xi Jinping before a meeting during the Asia-Pacific Economic Cooperation leaders' week in Woodside, California, Nov. 15, 2023.Brendan Smialowski | Afp | Getty ImagesChina said it "firmly opposes" the U.S. investigation...
Banks see delay in rate cuts by RBI, too, ET BFSI
Mumbai: A delay by the US Federal Reserve in reducing rates is likely to weigh on Mint Road's decision on starting its own policy rate-easing cycle. After Morgan Stanley and Kotak Bank, IDFC Bank now expects India's central bank to defer its rate easing call, perhaps...
Latest news on Russia and the war in Ukraine
Ukraine has 'urgent' need for air defense, artillery and ammunition, army chief saysThe commander-in-chief of Ukraine's armed forces on Wednesday said that he had emphasized Ukraine's "urgent needs" on the battlefield in a conversation with top U.S. General...
3.3 crore bank accounts opened in FY24, cash level rises by Rs 36K crore, ET BFSI
A remarkable 33 million new Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts were opened during FY24, pushing the cumulative tally to 519.5 million accounts. The total balance across these accounts surged to Rs 2,34,997 crore, compared to Rs 1,98,844 crore recorded in...
Trump complains about hush money trial jury selection
Former U.S. President Donald Trump speaks to the media on the first day of his trial for allegedly covering up hush money payments at Manhattan Criminal Court on April 15, 2024 in New York City. Jefferson Siegel | Getty ImagesDonald Trump complained Wednesday that his...
Euro zone bond yields steady as traders assess interest rate outlook, ET BFSI
LONDON - Euro zone bond yields paused for breath on Wednesday after this week's climb, trading near a 1-1/2-month high, as traders assessed central banks' possible next moves following robust U.S. data.This week's fall in demand for safe assets pushed bond yields...
The European Central Bank is seen forgiving Italy its fiscal sins, if needed, ET BFSI
MILAN - Investors who have snapped up high-yielding Italian bonds over the last year on the assumption they were protected from risk by the European Central Bank are now taking a close look at the ECB's rulebook to gauge whether their investment is safe.The central...
Trump Media shares rise more than 10%
Jonathan Raa | Nurphoto | Getty ImagesThe price of Trump Media shares rose by more than 10% in early trading Wednesday.The big bump for DJT followed two days of share losses on the Nasdaq.Trump Media, which owns the Truth Social app, closed more than 14% lower on...
Proof of HRA claims of previous years; can you really take it easy after CBDT’s assurance of no review of old HRA cases, ET BFSI
If you have made certain claims to get an income tax deduction or exemption while filing your income tax return, then you need to keep documentary evidence of it as the income tax department may ask for it. There were media reports which indicated that the income tax...
RBI’s Das & Co rate easing cycle may be influenced by potential Fed rate cut delays, ET BFSI
A delay by the US Federal Reserve to cut rates is likely to weigh on RBI’s decision on starting its policy rate easing cycle. After Morgan Stanley and Kotak Bank, even IDFC Bank expects RBI to ease its rate easing call. Strong economic growth and escalated tensions in...
G20 watchdog says ‘non-banks’ should hold more cash to cope with margin spikes, ET BFSI
LONDON: "Non-banks" such as insurers, hedge funds, family offices and commodities traders should hold sufficient cash and draw up contingency plans for coping with spikes in collateral used to back derivatives positions against default, the G20's financial watchdog...
RBI directs payment aggregators to undertake due diligence of merchants on boarded, ET BFSI
The Reserve Bank of India on Tuesday directed all payment aggregators to undertake due diligence of merchants on boarded as per RBI's norms, to regulate the payment ecosystem. The KYC and due diligence norms, according to the RBI, shall be applicable 3 months from...
No RBI rate cuts likely this fiscal, says Morgan Stanley, BFSI News, ET BFSI
Morgan Stanley's economists have projected that the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) may opt against reducing the policy repo rate, which currently stands at 6.50%, for fiscal 2025. This due to many factors, including robust domestic...
Feuding Kirloskars will have to disclose Deed of Family Settlement, Sebi tells Supreme Court, ET BFSI
Markets regulator Securities Exchange Board of India on Tuesday told the Supreme Court that Kirloskar Oil and Engines (KOEL) and Kirloskar Brothers (KBL) will have to disclose their 2009 Deed of Family Settlement (DFS) pursuant to the amendment in its 2015 LODR...
Biden fund gets big donation from son of GOP donor Larry Ellison
David Ellison, CEO of Skydance Media attends the 81st Annual Golden Globe Awards at The Beverly Hilton on January 07, 2024 in Beverly Hills, California. Kevin Winter | The Hollywood Reporter | Getty ImagesDavid Ellison, the son of Republican megadonor Larry Ellison,...
RBI asks banks to look at setting up central fund to pay internal ombudsmen, ET BFSI
The Reserve Bank of India (RBI) has asked lenders to examine the possibility of establishing a central fund to pay the salaries of banks' internal ombudsman (IO). This move seeks to enhance their independence to further protect customer rights.The banking sector...
Biden wants to triple China tariffs on steel, aluminum imports
President Joe Biden and his Chinese counterpart Xi Jinping are expected to meet on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco in November.Saul Loeb | Afp | Getty ImagesPresident Joe Biden is calling on the U.S. Trade Representative...
RBI moves to regulate PoS payment players like Pine Labs, Innoviti, MSwipe, ET BFSI
After releasing guidelines for online payment aggregators like Razorpay and Cashfree, the Reserve Bank of India on Tuesday issued draft rules to regulate point-of-sale payment service providers (PA-P). Companies like Innoviti Payments, Pine Labs and MSwipe will be...
Modi 3.0 mega plan for Railways, plans investment of Rs 10-12 lakh crore, ET BFSI
Indian Railways is ready with a 100-day plan post-elections 2024. It includes a focus on various passenger-friendly measures, like a 24-hour ticket refund scheme, a comprehensive super App for various railways facilities, three economic corridors and sleeper Vande...
Republican House panel launches probe into Biden’s FTC-DOJ task force
FTC Commissioner nominee Lina M. Khan testifies during a Senate Commerce, Science, and Transportation Committee hearing on the nomination of Former Senator Bill Nelson to be NASA administrator, on Capitol Hill in Washington, U.S., April 21, 2021. Graeme Jennings |...
Fed VC Jefferson, ET BFSI
Washington DC [US], April 17 (ANI): US Federal Reserve Vice Chair Philip N Jefferson believes it will be appropriate to maintain the current restrictive monetary policy stance, to align inflation with 2 per cent.Speaking at the International Research Forum on Monetary...
Latest news on Russia and the war in Ukraine
Putin warns against escalation in first comments on Iran-Israel conflictRussian President Vladimir Putin and Iran's President Ebrahim Raisi hold a meeting in Tehran on July 19, 2022.Sergei Savostyanov | AFP | Getty ImagesRussian President Vladimir Putin made his first...
Why the US dollar is causing chaos across Asia, BFSI News, ET BFSI
Emerging-market currencies have tumbled this year as the dollar has gone from strength to strength. Taiwan’s currency dropped to the lowest level in almost eight years this week, India’s rupee slumped to a record, and Malaysia’s ringgit is close to the weakest since...
Biden administration partners with states to protect airline customers
U.S. Secretary of Transportation Pete Buttigieg speaks during a press briefing the day after the collapse of the Francis Scott Key Bridge in Baltimore, at the White House in Washington, U.S., March 27, 2024. Elizabeth Frantz | ReutersU.S. Transportation Secretary Pete...
Senator encourages drivers to drag Gaza cease-fire protesters from roads
U.S. Senator Tom Cotton (R-AK) speaks during a Senate Intelligence Committee hearing on worldwide threats to American security, on Capitol Hill in Washington, U.S., March 11, 2024.Julia Nikhinson | ReutersSen. Tom Cotton, R-Ark., on Tuesday doubled down on earlier...
Israel’s military chief says that Israel will respond to Iran’s weekend missile attack
Israel's military chief said Monday that his country will respond to Iran's weekend attack, but he did not elaborate on when and how as world leaders urged Israel not to retaliate, trying to avoid a spiral of violence in the Middle East.The Iranian attack on Saturday...
Is Aadhaar mandatory for investment in small savings schemes such as Senior Citizen Savings Scheme, PPF, NSC, Sukanya Samriddhi Yojana?, ET BFSI
Small savings schemes: Investing in small savings schemes like the Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), and others requires adherence to certain documentation procedures. Chief among these is the submission...
Treasury Department to impose sanctions on Iran after Israel attack
US Treasury Secretary Janet Yellen attends a press conference at US Ambassador's residence in Beijing on April 8, 2024. Pedro Pardo | AFP | Getty ImagesTreasury Secretary Janet Yellen said Tuesday the U.S. is preparing new sanctions on Iran after the country launched...
Deutsche Bank, Morgan Stanley expect ECB to deliver 75 bps rate cut in 2024, ET BFSI
Brokerages Morgan Stanley and Deutsche Bank expect the European Central Bank to reduce borrowing costs by 75 basis points (bps) this year, on uncertainty over the U.S. Federal Reserve rate cut outlook and sticky domestic inflation.Last week, the ECB held interest...
Israel’s war Cabinet is locked between restraint and revenge
Vowing retribution but urged to show restraint, Israel has yet to agree on its response to an expansive drone and missile strike carried out on its territories by Iran on Saturday.A Monday meeting of Israel's five-person war Cabinet, headed by Prime Minister Benjamin...
RBI may bring licensing regime for POS players, impact Pine Labs, Paytm among others, ET BFSI
The Reserve Bank of India (RBI) is gearing up to introduce a licensing framework for point-of-sale (POS) operators, a move expected to have significant implications for key players like Pine Labs, MSwipe, Paytm, and BharatPe, according to reports.The objective is to...
Trump Media shares fall, Truth Social will launch TV platform
Jonathan Raa | Nurphoto | Getty ImagesTrump Media shares fell by more than 5% Tuesday morning after the company announced its Truth Social platform is moving to launch a live TV streaming platform.The plummet of DJT shares came a day after they closed more than 18%...
RBI imposes restrictions on Mumbai-based Sarvodaya Co-op Bank, ET BFSI
The RBI on Monday imposed several restrictions on Mumbai-based Sarvodaya Co-operative Bank, including capping withdrawals at Rs 15,000 for customers, in the wake of the bank's deteriorating financial situation. The eligible depositors will be entitled to receive a...
RBI asks lenders to provide key facts statement to borrowers from Oct 1, ET BFSI
All lenders will have to provide key facts statement (KFS) about the loan agreement terms, including all-inclusive interest cost to borrowers for retail and MSME loans, from October 1, the Reserve Bank said Monday. Currently, KFS is specifically mandated with respect...
China’s inaction on Iran has ‘undermined’ its influence in the Middle East, analyst says
China's President Xi Jinping attends the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco, California, U.S. November 17, 2023. Carlos Barria | ReutersChina's restrained silence on the Middle East conflict is tipping the scales of regional influence...
No rush for Bank of Korea to cut interest rates, says departing board member, ET BFSI
SEOUL - The Bank of Korea should not rush to lower interest rates as price stability remains the top policy priority for the central bank over slowing domestic demand, a departing board member said on Tuesday."There is no need to lower interest rates in a rush because...
Jury selection continues in criminal hush money case
Former U.S. President Donald Trump speaks to the press after the first day of his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City, U.S. on April 15, 2024. Angela Weiss | Via ReutersThis...
NSE’s Ashish Chauhan, ET BFSI
New Delhi, April 16 (IANS): If the Indian stock markets are considered among the best-performing ones in the world, it is due to the political stability and the creation of a robust social security framework the country has witnessed in the last 10 years, according to...
New York tax preparer charged in big tax fraud scheme
Damian Williams, U.S. Attorney for the Southern District of New York, speaks during a press conference in New York City, Sept. 22, 2023.Barry Williams | New York Daily News | Getty ImagesA New York tax preparer was arrested Monday on charges related to causing...
UK wage growth slows slightly as Bank of England mulls rate cuts, ET BFSI
LONDON - British core wage growth slowed again, posting its weakest rise since the three months to September 2022 but remained strong by historical standards, according to official figures which are likely to be given a cautious welcome by the Bank of England.Regular...
Morgan Stanley, BFSI News, ET BFSI
MUMBAI - Interest rate cuts in India are "off the table" in fiscal year 2024/25 given the change in the Federal Reserve's policy path and strong growth in the South Asian nation, analysts at Morgan Stanley said on Tuesday."We believe that improving productivity...
Lockheed wins U.S missile defense contract worth $17 billion, sources tell Reuters
The Lockheed Martin logo is seen during the the 70th annual International Astronautical Congress at the Walter E. Washington Convention Center in Washington, DC on October 22, 2019.Mandel Ngan | AFP | Getty ImagesLockheed Martin has been awarded a $17 billion contract...
CEIB pushes for mandatory clearance for private banks, posing loan challenge, ET BFSI
Central Economic Intelligence Bureau has written to the department of financial services, finance ministry, to ensure all private banks seek mandatory clearance from CEIB, as in the case of government banks, on whether any enforcement case is pending against a company...
Commerce will spend all CHIPS Act money this year
TAYLOR, Texas — The Commerce Department is on track to dole out all of the $39 billion in grant money allocated under the CHIPS Act by year-end, Commerce Secretary Gina Raimondo told CNBC on Monday.The Commerce Department is providing the money to semiconductor...
Indian regulators plan panel to weigh derivatives risk: Sources, ET BFSI
MUMBAI - India's top financial regulators will form a committee to assess stability risks emerging from a surge in derivatives markets and suggest policy changes if required, two sources familiar with the matter said.Options trading in India has soared in the last...
Sebi to auction 30 properties of seven companies in May 2024, BFSI News, ET BFSI
Representative ImageMarkets regulator Sebi on Monday said it will auction 30 properties of seven companies, including Mangalam Agro Products and Purusattam Infotech Industries, on May 15 to recover money illegally collected from investors. The properties will be...
Speaker Johnson to advance separate Israel, Ukraine, Taiwan bills
Speaker of the House Mike Johnson, R-La., makes his way to the House floor on Friday, March 22, 2024. Rep. Marjorie Taylor Greene, R-Ga., filed a motion to vacate him from the speakership, later in the day. Tom Williams | CQ-Roll Call, Inc. | Getty ImagesHouse Speaker...
Mahendra Kumar Jajoo, ET BFSI
Mahendra Kumar Jajoo, CIO, Mirae Asset Investment Managers, says . “I expect the Fed to cut rates in July-August. The rate cut cycle will be shallow. The Fed will cut to reverse the ultra-aggressive rate hikes of the last 100 basis points and then the Fed will watch...
Biden and his wife report $620,000 income in 2023 tax returns
U.S. President Joe Biden and first lady Jill Biden walk to Marine One for travel to Virginia from the South Lawn of the White House in Washington, U.S., January 23, 2024. Leah Millis | ReutersPresident Joe Biden and his wife Jill on Monday released tax returns showing...
Disclose all loan fees upfront to customers, RBI instructs lenders, ET BFSI
Consumer loans will get more transparent with Reserve Bank of India Thursday directing lenders to disclose all associated fees upfront. This move is part of ongoing regulatory efforts to enhance transparency and disclosure in loan pricing and charges imposed on...
These transactions remain as paper trades within WhatsApp, Facebook and other apps, ET BFSI
In a recent incident, a 58-year-old resident of Kolkata lost Rs 20 lakh to an investment scam on WhatsApp. Initially enticed by a Facebook advertisement offering a complimentary online stock trading course, the victim was subsequently added to a WhatsApp group by the...
Latest news on Russia and the war in Ukraine
Russian forces pummel east Ukraine in bid to advance on Chasiv Yar, officials sayRussian forces continue to pummel eastern Ukraine in a bid to advance farther into the Donetsk region while Ukraine continues to suffer shortages of manpower and materiel.The...
Debt and climate back on IMF, WB spring meetings agenda, ET BFSI
Washington, Apr 15, 2024 - The spring meetings of the International Monetary Fund and the World Bank are due to open Tuesday, with two clear objectives: help countries combat climate change, and assist the most indebted nations.The meetings -- which bring central...
Why is RBI buying gold? Reserve Bank of India purchases nearly 13.3 tonnes of gold in Jan-Feb 2024, ET BFSI
The Reserve Bank of India (RBI) has increased its gold purchases to enhance the diversity of its foreign exchange reserves amid fluctuations in the US dollar. The surge in the value of outstanding gold reserves accounted for more than 80% of the nearly $3-billion rise...
SEBI to auction 22 properties of Rose Valley Group on May 20, BFSI News, ET BFSI
Representative ImageNEW DELHI: Markets regulator Sebi on Monday said it will auction 22 properties of Rose Valley Group of companies on May 20 at a reserve price totalling Rs 8.6 crore in a bid to recover money raised by the firm from the public through illicit...
We have woken up to new paradigm in Middle East, analyst says
Iran's weekend attack on Israel marks a "new paradigm" in the Middle East conflict, which risks escalating into a wider regional war, Chatham House's Middle East director said Monday.Sanam Vakil at the London-based thinktank said it was a matter of when and not if...
Lithuanian policymaker Simkus, ET BFSI
VILNIUS - The European Central Bank could cut interest rates more than three times this year and the reductions should not be held back if the U.S. Federal Reserve delays its own cuts, Lithuanian policymaker Gediminas Simkus said on Monday.Simkus, making some of the...
Rising global risks could delay RBI rate cuts, say analysts, BFSI News, ET BFSI
New Delhi: Rising global risks, including the rise in crude oil prices, may delay RBI's rate cuts, analysts said."While we maintain our call for a 50 bps rate cut starting in 3QFY25, we note increasing risks of further delays to the RBI's rate cuts from rising crude...
Trump Media shares plunge after company files to issue additional DJT stock
This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022.Stefani Reynolds | AFP | Getty ImagesShares of Trump Media plunged more than 17% in...
Mukherjee, Chidambaram used to pressurise RBI to paint rosier picture of growth: Subbarao, ET BFSI
New Delhi: The finance ministry under Pranab Mukherjee and P Chidambaram used to pressurise the RBI to soften interest rates and present a rosier picture of growth to shore up sentiments, recalled former RBI Governor Duvvuri Subbarao in his memoir. In his recent book...
Trump starts New York criminal trial in hush money case
Former U.S. President Donald Trump attends a campaign event on April 02, 2024, in Grand Rapids, Michigan.Spencer Platt| Getty ImagesThe hush money trial of Donald Trump is set to kick off Monday in New York with jury selection, the first time a former U.S. president...
Bank of Japan’s new policy approach takes shine off its inflation forecasts, ET BFSI
TOKYO - The Bank of Japan is shifting to a more discretionary approach in setting policy, with less emphasis on inflation, sources said, as the central bank maps its monetary path following the historic decision to end a radical stimulus programme in March.With...
RBI steps up gold buying amid US dollar volatility, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has stepped up gold purchases to help diversify its foreign exchange reserves base amid US dollar volatility. The rise in the value of outstanding gold reserves made up more than four-fifths of the near $3-billion increase in forex...
World leaders react to Iran’s unprecedented air assault against Israel
A view of anti-Israel banners and posters placed on building walls in the capital city of Tehran after Iran launched drones, missiles on Israel in response to April 1 attack on consulate in Syria on April 14, 2024.Anadolu | Anadolu | Getty ImagesWorld leaders have...
Soon, you can use money in PhonePe, Amazon Pay wallets to pay via any UPI app, ET BFSI
UPI rule change for PPIs: Unified Payments Interface (UPI) and wallets like Paytm, PhonePe, and Amazon have become integral to our daily transactions. Whether it's paying for groceries, bills, or other expenses, we rely on these platforms regularly. However, a common...
Finance ministry may have this plan to deal with frauds, ET BFSI
The Finance Ministry is reportedly proposing stricter measures to protect citizens from cyber fraud. This comes after a surge in incidents, including the recent Bank of Baroda World app scam. These measures are said to be part of a broader national effort to combat...
RBI steps up gold buying amid US dollar volatility, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has stepped up gold purchases to help diversify its foreign exchange reserves base amid US dollar volatility. The rise in the value of outstanding gold reserves made up more than four-fifths of the near $3-billion increase in forex...
Crisil expects RBI to initiate repo rate cuts from mid-2024, BFSI News, ET BFSI
RBIThe Reserve Bank of India (RBI) maintained the status quo in the repo rate for the seventh time this month. The rating agency Crisil now expects the rate cut cycle to begin from mid-2024.The repo rate is the rate of interest at which the RBI lends to other...
NFRA’s order reveal multiple lapses by Pathak HD & Associates in Reliance Capital audit; debars audit partners, ET BFSI
NFRA's order reveal multiple lapses by Pathak HD & Associates in Reliance Capital audit; debars audit partners India's audit regulator, the National Financial Reporting Authority (NFRA), has taken decisive action against Pathak HD & Associates, the joint...
Govt plans stricter KYC to check financial frauds, ET BFSI
During 2023, as many as 11,28,265 cases of financial cyber fraud worth Rs 7,488.63 crore were reported, as per the data compiled by National Crime Records Bureau (NCRB).In a bid to check incidence of BoB World app scam and other such financial frauds, the finance...
Latest news on Russia and the war in Ukraine
Moscow diplomat slams Israel after attack, saying it hasn't sympathized with assaults on RussiaRussia's Foreign Ministry spokesperson slammed Israel following Iran's massive drone and missile attack on the country on Saturday, saying Israel had not shown any...
NFRA takes action against auditors of Reliance Capital for lapses and fraud, ET BFSI
The National Financial Reporting Authority (NFRA), the regulatory body overseeing auditors and audit firms for listed and large companies, has taken action against Pathak HD & Associates (PHD), the joint auditor for Reliance Capital, formerly an Anil Ambani group...
House Speaker Mike Johnson says he will push for aid to Israel and Ukraine this week
House Speaker Mike Johnson said Sunday he will try to advance wartime aid for Israel this week as he attempts the difficult task of winning House approval for a national security package that also includes funding for Ukraine and allies in Asia.Johnson, R-La., is...
White House will ‘wait and see’ on Iran response after Israel attack
U.S. President Joe Biden holds a press conference at the conclusion of the G7 Summit, in Hiroshima, Japan, May 21, 2023. Jonathan Ernst | ReutersThe White House is taking a "wait and see" approach in response to Iran's attempted strike on Israel, National Security...
Cuban spy Manuel Rocha plea deal raises fresh questions for claims holders
The Miami Herald profiled former Ambassador V. Manuel Rocha in 2003 when he joined the firm of Steel Hector & Davis to help open doors in Latin America.Raul Rubiera | Miami Herald | Getty ImagesWhen Carolyn Lamb saw news of Cuban spy Victor Manuel Rocha's arrest...
News organizations urge Biden and Trump to commit to presidential debates during the 2024 campaign
Twelve news organizations on Sunday urged presumptive presidential nominees Joe Biden and Donald Trump to agree to debates, saying they were a "rich tradition" that have been part of every general election campaign since 1976.While Trump, who did not participate in...
Is it mandatory to submit Aadhaar to invest in small savings schemes?, ET BFSI
Is it mandatory to provide Aadhaar to invest in small savings schemes such as the Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), etc.? The answer is yes. While opening a fresh account in any of the small savings...
Payment mechanism for traders importing pulses from Myanmar simplified: Govt, ET BFSI
The government on Saturday said the payment mechanism for traders importing pulses from Myanmar has been eased and simplified. The importers have been asked to utilize Rupee/ Kyat direct payment system using Special Rupee Vostro Account (SRVA) through Punjab National...
Do you need to do KYC again? Check new rules here, ET BFSI
The proverbial monkey on the back is tormenting investors yet again. After changes in Know Your Customer (KYC) norms, starting 1 April, millions are now staring at another bout of KYC updates or risk a freeze on all transactions.Many investors are discovering that...
Israel says 300 Iranian drones and missiles downed in overnight attack
Iranians are waving Iranian flags and a Palestinian flag as they celebrate Iran's IRGC UAV and missile attack against Israel on April 14, 2024.Nurphoto | Nurphoto | Getty ImagesIran rained a deluge of drones and missiles on Israel on Saturday night in response to a...
MUDRA loan limit to be hiked to Rs 20 lakh from Rs 10 lakh, ET BFSI
The loan limit for the Micro Units Development & Refinance Agency (MUDRA) scheme will be hiked by 100 per cent if the Bharatiya Janata Party is voted back to power, the party said while announcing its manifesto on Sunday."The BJP has decided to raise loan limit...
New capital requirements for Swiss banks will slow growth at UBS, says finance minister, ET BFSI
ZURICH: The Swiss government's proposed tougher capital requirements for the banking industry will impact UBS's ability to grow, the country's finance minister said in an interview published on Saturday.Switzerland's largest bank will have to hold more capital if the...
FPSB India CEO, ET BFSI
New Delhi: The country needs a "new breed of financial planning professionals" who can act as consultants for customers, Financial Planning Standards Board (FPSB) India CEO Krishan Mishra said. India currently has 2,731 certified financial planners (CFPs) who are...
Trump targets two likely witnesses ahead of his criminal trial, despite gag order
In this courtroom sketch, Michael Cohen looks toward former U.S. President Donald Trump as he is questioned by a lawyer for the attorney general's office, during the Trump Organization civil fraud trial in New York State Supreme Court in the Manhattan borough of New...
India’s forex kitty surges to new all-time high of $648.56 bn, ET BFSI
Mumbai, India's foreign exchange reserves went up by $2.98 billion during the week ended April 5 to scale a new all-time high of $648.562 billion, data released by the RBI showed on Friday.This is the seventh consecutive week marking a jump in the overall reserves....
Trump says he would testify in upcoming hush money trial
Republican presidential candidate former President Donald Trump and Speaker of the House Mike Johnson (R-LA) hold a press conference at Mr. Trump's Mar-a-Lago estate on April 12, 2024, in Palm Beach, Florida. Joe Raedle | Getty ImagesDonald Trump said Friday that he...
Trump tries to boost support for Truth Social as his media stock tanks
Donald Trump on Friday urged his followers to support his social media app Truth Social, as its parent company's stock continues to sink lower.Trump in a post on that app said he believes Truth Social embodies the political "movement" behind his "Make America Great...
Marjorie Taylor Greene won’t say what happened to her Trump Media stock
US Representative Marjorie Taylor Greene (R) speaks alongside former US President and 2024 presidential hopeful Donald Trump at a campaign event in Rome, Georgia, on March 9, 2024. Elijah Nouvelage | AFP | Getty ImagesA media company with ties to former President...
Trump Media shares drop more than 6% after trading day begins
Jonathan Raa | Nurphoto | Getty ImagesThe price of Trump Media shares quickly dropped by more than 6% in the first half hour of trading Friday morning.The latest price fall for DJT continued a slide that included a 5.4% drop on Thursday, and a more than 8.5% decline...
The West urges China to intervene with Iran amid fears of a direct attack on Israel
Iranians attend a funeral procession in Tehran, held for seven Islamic Revolutionary Guard Corps members killed in a strike in Syria.Hossein Beris | Afp | Getty ImagesWestern diplomats have mounted pressure on China to prevent Iran from escalating tensions in the...
Trump Media shares close lower as Truth Social owner slump continues
Jonathan Raa | Nurphoto | Getty ImagesThe share price of Trump Media fell 5.4% at the close of trading on Thursday.DJT shares, the majority of which are owned by former President Donald Trump, ended at $32.41.Thursday's drop came a day after Trump Media shares fell...
Survey, BFSI News, ET BFSI
NEW DELHI - Unemployment and inflation are the main concerns of Indian voters but Prime Minister Narendra Modi's strong leadership, his party's Hindu nationalist agenda and India's rising global stature will likely help his re-election bid, a survey shows.The findings...
Trump faces trial on criminal hush money charges: What to know
Former U.S. President Donald Trump speaks from the hallway outside a courtroom where he is attending a hearing in his criminal case on charges stemming from hush money paid to a porn star, in New York City on March 25, 2024.Brendan Mcdermid | ReutersDonald Trump has...
Hot inflation may put Fed rate cut in thick of election season, ET BFSI
Hot U.S. inflation data has put the Federal Reserve's debate over a first interest rate cut on a potential collision course with the presidential election calendar, although a parade of top-level Fed-watching economists also predict the Fed won't make its move until...
Biden’s China tariff threats are more bark than bite, economists say
U.S. President Joe Biden attends a bilateral meeting with Chinese President Xi Jinping at Filoli estate on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, in Woodside, California, U.S., November 15, 2023. REUTERS/Kevin LamarqueKevin Lamarque |...
Former Fed chief Bernanke to set out Bank of England reforms, BFSI News, ET BFSI
By David MillikenLONDON, - Former Federal Reserve Chair Ben Bernanke will set out on Friday how the Bank of England should reform its economic forecasting, after a surge in inflation to its highest levels in more than 40 years turned a spotlight on the central bank's...
Biden warns on Beijing’s South China Sea moves in Philippines-Japan summit
U.S. President Joe Biden holds a trilateral meeting with Japanese Prime Minister Fumio Kishida (R) and Filipino President Ferdinand Marcos (L) at the White House on April 11, 2024 in Washington, DC. Leaders from the three nations are meeting in a first-ever trilateral...
Govt’s focus on infra development could nurture sustained revival in investment cycle: RBI report, ET BFSI
As per a RBI survey, consumer confidence one year ahead reached a new high. The government's focus on infrastructure development, coupled with buoyant business optimism, could nurture a sustained revival in the investment cycle, according to a Reserve Bank report....
Sam Bankman-Fried appeals fraud conviction, 25-year prison sentence
Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court as lawyers push to persuade the judge overseeing his fraud case not to jail him ahead of trial, at a courthouse in New York, August 11, 2023.Eduardo Munoz | ReutersA lawyer for...
FX derivatives fiasco puts spotlight on regulatory risk in India, ET BFSI
Exchange-traded currency derivatives thrived in India for over a decade, fueled by retail investors and proprietary traders. Then the central bank broke up the party.Until recently, traders were betting freely on the rupee’s rise and fall without holding underlying...
RBI’s list of 75 unauthorized forex trading platforms; How to check authorised list, ET BFSI
List of unauthorised as on November 24, 20231 Alpari https://alpari.com2 Anyfx https://anyfx.in3 Ava Trade https://www.avatrade.com4 Binomo https://binomoidr.com/in5 eToro https://www.etoro.com6 Exness https://www.exness.com7 Expert Option https://expertoption.com8...
Latest news on Russia and the war in Ukraine
Ural river water levels top 11 meters in Russia's Orenburg region, officials sayWater levels of the Ural river reached 11 meters and 29 centimeters on Friday in Russia's Orenburg, Denis Pasler, the regional governor, said on Telegram.In the two hours to 8:00 local...
Lawsuit targets donation to Rudy Giuliani defense fund
Former New York Mayor Rudy Giuliani departs the U.S. District Courthouse after he was ordered to pay $148 million in his defamation case in Washington, U.S., December 15, 2023.Bonnie Cash | ReutersOne of the largest donations to Rudy Giuliani's legal defense fund is...
Japanese PM Kishida says the U.S. must play leading role in the world
U.S. Vice President Kamala Harris and U.S. House Speaker Mike Johnson (R-LA) applaud as Japanese Prime Minister Fumio Kishida addresses a joint meeting of Congress at the U.S. Capitol in Washington, U.S., April 11, 2024.Amanda Andrade-Rhoades | ReutersJapanese Prime...
US SEC warns Uniswap Labs of potential enforcement action, ET BFSI
The U.S. Securities and Exchange Commission has notified of potential enforcement action against Uniswap Labs, the main developer behind one of the world's largest cryptocurrency exchanges, the company said in a blog post on Wednesday. The reason for the SEC's warning...
DIPAM rejects PFC-REC debt resolution proposal for KSK Mahanadi project, ET BFSI
New Delhi: The Department of Investment and Public Asset Management (DIPAM) has turned down Power Finance Corporation (PFC) and REC Ltd’s proposal for a debt resolution plan for the beleaguered 1,800-MW KSK Mahanadi Power Company project.The state-owned duo had sought...
When are those rate cuts coming, already? The European Central Bank may be providing some hints, ET BFSI
FRANKFURT, Germany - The European Central Bank will likely use its Thursday meeting as a prelude to a first interest rate cut in June as the rich world's central banks, including the ECB and the U.S. Federal Reserve, assess how soon receding inflation will let them...
Hong Kong set to approve its first spot bitcoin ETFs in April, ET BFSI
Spot bitcoin exchange-traded funds could be launched in Hong Kong this month with the first approvals likely to be announced next week, two people familiar with the matter said. That timeline would make Hong Kong Asia's first city to offer the popular ETFs and is much...
Trump Media director accused of ‘hacking’ files: lawsuit
This photo illustration shows an image of former President Donald Trump next to a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022.Stefani Reynolds | AFP | Getty ImagesInvestment firms led by the former CEO of the SPAC that...
RBI stops customers from withdrawing money; what are your rights as depositors if your bank fails?, ET BFSI
Customers of Shirpur Merchants' Co-operative Bank in Maharashtra cannot withdraw money from their accounts now after the latest direction of the Reserve Bank of India (RBI). Amid the deteriorating financial condition of the bank, the RBI has imposed several...
forever chemical, PFAS, PFOS regulation to cost $1.5 billion annually
Signage is seen at the headquarters of the United States Environmental Protection Agency (EPA) in Washington, D.C., U.S., May 10, 2021.Andrew Kelly | ReutersThe Environmental Protection Agency, EPA, released long-awaited regulations Wednesday on some toxic "forever...
RBI and IRDAI asked to help limit impact on exports, ET BFSI
The finance ministry has written to the banking and insurance regulators to monitor export credit availability and insurance premium increases to help Indian exporters deal with trade disruptions in the Red Sea due to Houthi attacks on cargo ships.In a letter, which...
Biden and Japan’s Kishida forge new partnership, eyeing China and Russia
U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida on Wednesday unveiled plans for military cooperation and projects ranging from missiles to moon landings, strengthening their alliance with an eye on countering China and Russia.Mandel Ngan | AFP |...
Fed Meet Minutes, ET BFSI
US Federal Reserve officials felt that the key interest rate was likely at its peak and it would be appropriate to loosen the monetary policy stance at some point this year, the minutes of its latest policy review meeting showed."...almost all participants judged that...
Unraveling US Rate Cut Investor Portfolio Shift: ANALYSIS
Federal Reserve Board chair Jerome PowellFears of rebounding inflation are forcing investors to prepare for a scenario few expected to confront in 2024: a year without U.S. interest rate cuts.Expectations for how much policy easing the Federal Reserve can deliver are...
Latest news on Russia and the war in Ukraine
Swiss to host peace summit in June, but Russia says it won't attendSwitzerland has confirmed it will host a high-level conference on how to achieve peace in Ukraine, the Swiss government said late Wednesday.The summit will take place on June 15-16 in the resort of...
Trump slams Biden for inflation after hotter-than-expected CPI report
Joe Biden and Donald Trump 2024.Kevin Lamarque | Jay Paul | ReutersDonald Trump on Wednesday pounced on President Joe Biden after March's consumer price index came in higher than expected, notching another data point that could signal inflation heating back up and...
Trump Media stock shares drop by more than 6%
Jonathan Raa | Nurphoto | Getty ImagesThe share price of Trump Media was down by more than 6% in midday trading Wednesday, putting the company's market capitalization below $5 billion.DJT shares were selling for $35.15 at 12:06 p.m. ET, well below the $70.90 that the...
RBI Floating Rate Savings Bonds likely to offer 8.05% interest from July 1, 2024; is it the right time to invest?, ET BFSI
Are you looking for a safe debt investment that offers more than an 8% interest rate? Then, let me tell you about the RBI Floating Rate Savings Bonds (FRSBs) 2020 (Taxable). At present, the RBI Floating Rate Savings Bond offers an interest rate of 8.05% per annum,...
Bank of Japan’s Kazuo Ueda rules out responding to weak yen with rate hike, ET BFSI
TOKYO - Bank of Japan Governor Kazuo Ueda said the central bank would not directly respond to currency moves in setting monetary policy, brushing aside market speculation that the yen's sharp falls could force it to raise interest rates.But Ueda maintained his...
Central banks likely to cut rates from June-July, align with pre-Covid range: Morgan Stanley, ET BFSI
New Delhi [India], April 10 (ANI): Central banks world over are likely to cut interest rates from June-July this year to bring real rates closer to the pre-Covid range, according to Morgan Stanley. Morgan Stanley says that Asian central banks will wait for the Fed to...
Former Trump executive Allen Weisselberg sentencing for perjury plea
Former Trump Organization Finance Chief Allen Weisselberg appears for a hearing in Manhattan Criminal Court on March 04, 2024 in New York City. Curtis Means | Getty ImagesFormer Trump Organization Chief Financial Officer Allen Weisselberg will be sentenced Wednesday...
Jeff Yass millions to influence schools, courts and markets
A portrait of Jeff Yass.Photo: Eddie MallukInside one of the largest options trading firms in the world sits a little known charitable foundation, that has quietly donated tens of millions of dollars to influence federal policy, education and law.The firm and the...
RBI cracks down on unauthorised forex trading platforms, asks banks to raise vigilance, ET BFSI
After issuing directives against unhedged exposure in forex derivatives, the Reserve Bank of India is cracking down on unauthorised forex trading platformsIn a recent address at the Fixed Income Money Market and Derivatives Association of India-Primary Dealers...
Steak, cherry blossoms and Paul Simon will be featured at the White House state dinner for Japan
President Joe Biden and first lady Jill Biden welcome Japanese Prime Minister Fumio Kishida and his wife Yuko Kishida to the White House on April 9, 2024 in Washington, DC.Anna Moneymaker | Getty Images News | Getty ImagesDry-aged rib eye steak, cherry blossoms and...
New govt’s economic agenda for 100 days, ET BFSI
The cabinet secretary has called a meeting with officials of key economic ministries on Friday to work out the economic agenda for the first 100 days of the new government that will take charge after the general election.Officials from the ministries of finance,...
Is inflation cooling enough for the Fed?, ET BFSI
WASHINGTON - An eagerly awaited report Wednesday on consumer prices will show whether inflation is still easing, a trend the Federal Reserve will weigh in deciding when and by how much - or even whether - to cut interest rates this year. The March inflation figures...
U.S. considers easing warnings for Americans traveling to China
The U.S. and China flags are seen at the People's Bank of China prior to the arrival of U.S. Treasury Secretary Janet Yellen in Beijing on April 8, 2024.Pedro Pardo | AFP | Getty ImagesThe U.S. is considering easing advisories against its citizens traveling to China,...
Labour codes may top new govt’s 100-day plan, BFSI News, ET BFSI
The government has already begun working on possible challenges and is deliberating on how to monitor implementationThe pending implementation of streamlined labour codes could top the 100-day agenda of a new government led by the Bharatiya Janata Party (BJP) after...
Iran’s Khamenei says Israel ‘must be punished’ for Syria embassy attack
Iran's Supreme Leader Ayatollah Ali Khamenei speaks during a graduation ceremony for armed forces officers at the Imam Ali academy in Tehran, Iran, on Oct. 10, 2023.WANA News Agency | Via ReutersIran's supreme leader, Ayatollah Ali Khamenei, said on Wednesday that...
RBI launches survey of manufacturing companies, BFSI News, ET BFSI
Mumbai: The Reserve Bank has launched the next round of quarterly order books, inventories and capacity utilisation survey of manufacturing companies, a key input for the monetary policy formulation. The 65th round of survey is for the reference period January-March...
Govt mandates transparency, fairness, accountability, ET BFSI
The market size of AI is poised to grow at a CAGR of 29.1% to reach $9,631.4 million by 2032.AI has led to seminal transformations in major sectors of the economy, from healthcare to banking and finance. The ability of AI tools to analyse vast amounts of data and make...
South Koreans vote for new parliament after campaign focused on economy, graft
People watch the first sunrise of the new year from a footbridge overlooking the city skyline in Seoul on January 1, 2024. Jung Yeon-je | Afp | Getty ImagesSouth Koreans voted to elect a new parliament on Wednesday in a bitterly fought race seen by some analysts as a...
RBI’s new KYC drill impacting ARC deals, BFSI News, ET BFSI
Mumbai: After the Paytm Payments Bank fiasco, the Reserve Bank of India (RBI) is insisting on KYC (Know Your Customer) compliance for accounts purchased by asset reconstruction companies from banks and non-banking finance companies.Earlier, asset reconstruction...
Russia-Ukraine war live updates from April 10, 2024
Drones attack Russian city of Taganrog, officials sayA drone attack targeted the southern Russian city of Taganrog on Wednesday, Russian officials said."Attention! UAV attack. If possible, go down to the lower floors, to the basement. Find a place without windows, sit...
RBI launches survey of manufacturing companies, BFSI News, ET BFSI
The Reserve Bank has launched the next round of quarterly order books, inventories and capacity utilisation survey of manufacturing companies, a key input for the monetary policy formulation. The 65th round of survey is for the reference period January-March 2024...
Bob Menendez grills official on illicit finance before bribery trial
U.S. Sen. Bob Menendez, D-N.J., at center right, and his wife, Nadine Menendez, center rear, leave Manhattan Federal Court in New York City following his arraignment, March 11, 2024.Spencer Platt | Getty ImagesSen. Bob Menendez questioned a Treasury Department...
Woman who stole Ashley Biden diary sentenced to jail
Ashley Biden speaks alongside her father US President Joe Biden during a Juneteenth concert on the South Lawn of the White House in Washington, DC, US, on Tuesday, June 13, 2023. Samuel Corum | Bloomberg | Getty ImagesA Florida woman who stole and then sold a diary...
Trump loses bid to delay hush money trial while he fights gag order
Combination of Former President Donald Trump (L), and Manhattan District Attorney Alvin Bragg.ReutersA New York appeals judge on Tuesday knocked down yet another long-shot bid by Donald Trump to delay his criminal hush money trial, this time by seeking a pause while...
Japan warns against excessive volatility as yen slides near fresh lows, ET BFSI
TOKYO - Japanese Finance Minister Shunichi Suzuki said authorities won't rule out any options in dealing with excessive yen moves, repeating his warning that Tokyo is ready to act against the currency's recent sharp declines.But he stopped short of describing the yen...
Bank of Japan’s Kazuo Ueda signals scope to reduce monetary stimulus, ET BFSI
TOKYO - Bank of Japan Governor Kazuo Ueda said the central bank must consider further whittling down monetary stimulus if trend inflation continues to accelerate, signalling the chance of another rate hike later this year in line with market bets.Speaking in...
Simon Harris becomes youngest-ever Irish prime minister, pledges ‘reset’
Newly-declared Fine Gael leader Simon Harris speaking at a convention in Athlone, central Ireland on March 24, 2024, after becoming de facto prime minister-in-waiting. Harris took over following the shock resignation of predecessor Leo Varadkar.Paul Faith | Afp |...
EU’s von der Leyen echoes Yellen’s calls for tough stance on Chinese overcapacity
European Commission President Ursula von der Leyen speaks during a press conference, Nurphoto | Getty ImagesEuropean Commission chief Ursula von der Leyen on Tuesday said that Europe must talk tough with China on its perceived unfair trade practices, echoing calls a...
RBI, BFSI News, ET BFSI
MUMBAI: RBI has said that interest rate transmission is incomplete as deposit rates are still rising and banks may need to relook at the low lending rates, offered through special loan schemes, which will affect their margins.Banks have been fighting a rate battle in...
‘Financial market reforms by RBI aimed at providing strong bedrock for markets,’ says Governor Shaktikanta Das, ET BFSI
NEW DELHI: Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday said the recent wave of financial market reforms spearheaded by the RBI are geared towards establishing a robust foundation for addressing the burgeoning funding needs of the economy, providing...
European shares dip ahead of ECB policy decision; BP shines, BFSI News, ET BFSI
European shares opened lower on Tuesday, with investors stepping to the sidelines ahead of this week's U.S. inflation data and a European Central Bank monetary policy decision, while gains in British energy giant BP and miners kept losses in check.The pan-European...
experts, BFSI News, ET BFSI
The government move to introduce an artificial intelligence law that will safeguard the commercial and creative interests of content creators including news publishers will help balance the interests of publishers with the needs of those developing generative AI...
India needs more leaders like Manmohan Singh, BFSI News, ET BFSI
Almost 10 years after he gave way to Narendra Modi as prime minister of India, Manmohan Singh retired last week from public life. During his long career, Singh also served as chief economist, central bank governor, finance minister, and foreign minister. Although he...
Why RBI gave foreign investors access to sovereign green bonds, ET BFSI
What recent decision has the RBI made regarding Sovereign Green Bonds?The RBI has made a significant decision to allow foreign investors operating within the IFSC to invest in Sovereign Green Bonds (SGrBs). This decision, announced recently, marks a pivotal step in...
What Truth Social executives got in stock, compensation
The merger that led to Trump Media shares becoming publicly traded is also paying off for top executives and other insiders at the company, which owns the Truth Social app regularly used by former President Donald Trump.Corporate filings from Trump Media — which...
RBI, BFSI News, ET BFSI
Frequent weather shocks caused by climate change pose challenges for the monetary policy as well as downside risks to economic growth, a Reserve Bank report said. Global average temperatures are on a rise, with accompanying increase in extreme weather events (EWE),...
Latest news on Russia and the war in Ukraine
Ukraine destroys attack drones, missiles launched by RussiaA view of a damaged fire truck after Russian forces launched a massive drone attack on the city of Kharkiv, Ukraine on April 4, 2024. The drone attack killed 4, injured 12 people. Anadolu | Anadolu | Getty...
Interest subsidy on home loan for poor may be part of 100-day plan, ET BFSI
NEW DELHI: With Prime Minister Narendra Modi asking ministries to prepare a 100-day plan for the new government, ministries are lining up several "people-friendly" initiatives.Indian Railways, for instance, plans to roll out a 24-hour refund scheme for passengers...
Trump hush money judge recusal bid aims to delay, evade gag order: DA
Former U.S. President Donald Trump speaks on the phone at the 18th green during day three of the LIV Golf Invitational - Miami at Trump National Doral Miami on April 07, 2024 in Doral, Florida. Megan Briggs | Getty ImagesThe latest bid by Donald Trump to remove the...
Trump Media stock drops more than 10% to open trading week
Aytac Unal/ | Anadolu | Getty ImagesTrump Media shares dropped more than 10% in early trading Monday.DJT's plunge followed a 12% decline in its share price on Friday.Trump Media, which owns the Truth Social app used by its biggest shareholder, former President Donald...
U.S., China to hold more financial shock exercises, Treasury officials say, ET BFSI
BEIJING - The U.S. and China are deepening cooperation on financial stability issues, U.S. Treasury officials said, with two more simulations of financial shocks scheduled after a recent exercise on dealing with the failure of a large bank.The exercises have been...
U.S. ready to sanction China for supporting Russian military
US Treasury Secretary Janet Yellen speaks to journalists. Picture Alliance | Picture Alliance | Getty ImagesThe United States is prepared to sanction Chinese banks and companies, as well as Beijing's leadership, if they assist Russia's armed forces with the invasion...
Japan’s service-sector mood slumps, clouds BOJ rate hike path, ET BFSI
TOKYO - Japan's service-sector sentiment fell in March as rising living costs and bad weather weighed on consumption, a government survey showed, heightening uncertainty on how soon the central bank can raise interest rates again.Consumption has been a weak spot in...
A year into his job, Bank of Japan chief Ueda gets 1 mission accomplished, ET BFSI
Bank of Japan Governor Kazuo Ueda TOKYO - A year into his job, Bank of Japan Governor Kazuo Ueda said he had achieved a goal he set when taking the helm: changing the bank's complex monetary stimulus into a simpler framework.Speaking in parliament on Monday, he also...
Governance, compliance top priorities; RRA 2.0, Internal Review Groups key: RBI, ET BFSI
The Reserve Bank of India (RBI) Governor, Shaktikanta Das, while presenting the April MPC decision emphasised that banks, NBFCs and other financial entities must continue to give the highest priority to quality of governance and adherence to regulatory guidelines....
Sebi proposes direct reporting of AIFs’ PPM changes to streamline compliance cost, ET BFSI
The Securities and Exchange Board of India (Sebi) has proposed that certain changes in private placement memorandum (PPM) of alternative investment funds (AIFs) can be submitted directly to it rather than through a merchant banker. The move is aimed to rationalise...
Five questions for the ECB, BFSI News, ET BFSI
Traders betting the European Central Bank is all but certain to start cutting interest rates in June just need a green light from policymakers on Thursday that the coast is clear.Inflation slowed to even nearer the ECB's 2% target in March, paving the way for the bank...
India swaps suggest RBI now likely to hold rates through 2024, ET BFSI
MUMBAI - Indian overnight indexed swap (OIS) rates have moved higher since the Reserve Bank of India's latest policy meeting on Friday, suggesting investors now expect a rate cut only in early 2025 as opposed to the last quarter of 2024 earlier.The one-year OIS rate,...
Yellen says she won’t rule out possible tariffs on China’s green exports
U.S. Treasury Secretary Janet Yellen on March 21, 2024, in Washington, DC. Alex Wong | Getty ImagesU.S. Treasury Secretary Janet Yellen on Monday said she would not rule out any measures, including potential tariffs, on China's green energy exports."I wouldn't rule...
When will RBI cut rates?, BFSI News, ET BFSI
With the Reserve Bank of India maintaining a status quo on rates and stance, analysts say that the central bank may cut rates in the August policy review or in the October policy announcement. The timing of a rate cut, however, presents a nuanced challenge. Forecasts...
RBI, BFSI News, ET BFSI
MUMBAI: RBI has cautioned that frequent shocks to inflation due to climate change can weaken policy transmission and necessitate tighter monetary policy. RBI's monetary policy report noted that climate change can increase inflation and stunt growth.The report said...
All the details, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has introduced two fresh website and mobile app offerings. According to an announcement by the central bank, the current website will continue to be accessible for a period, operating alongside the newly launched platforms.The release...
Brazil Supreme Court justice opens inquiry into Elon Musk
Brazil's President Jair Bolsonaro and Tesla CEO Elon Musk talk during a meeting in Porto Feliz city in Sao Paulo state, Brazil May 20, 2022.Kenny Oliveira | MCom | via ReutersBrazil Supreme Court Justice Alexandre de Moraes initiated an investigation of tech magnate...
Indian rupee, government bonds to track inflation prints, BFSI News, ET BFSI
By Dharamraj Dhutia and Jaspreet KalraMUMBAI - The Indian rupee is likely to track a pullback in the odds of a June rate cut by the U.S. Federal Reserve and, along with government bonds, will gauge elevated crude oil prices and local and U.S. inflation data over a...
Tax dept may take you to tribunal and court for bogus transactions, ET BFSI
The Central Board of Direct Taxes (CBDT) has decided to increase the scope of the Income Tax Department in filing of appeal cases in tribunals and courts. It has been directed by CBDT via a circular dated March 15, 2024, that the tax department can now file appeals...
Latest news on Russia and the war in Ukraine
The Russian-controlled Zaporizhzhia nuclear power plant in southern Ukraine on June 15, 2023.Olga Maltseva | Afp | Getty ImagesThe United Nations' atomic energy watchdog sounded the alarm Sunday after drones struck a nuclear reactor at the Russian-held Zaporizhzhia...
Israel troop reduction in Gaza does not mean new strategy
U.S. national security spokesperson John Kirby speaks during a press briefing at the White House in Washington, U.S., March 25, 2024. Elizabeth Frantz | ReutersNational Security Spokesman John Kirby on Sunday said that Israel's decision to pull some troops out of...
Sebi asks Youtuber who gives stock market training to deposit Rs 12 crore, ET BFSI
NEW DELHI: Financial influencer Ravindra Balu Bharti, who imparts stock market training, has been asked by the Security Exchange Board of India (Sebi) to deposit over Rs 12 crore, which he made unlawfully. The person, Ravindra Balu Bharti, is directed to credit or...
PMO asks commerce ministry to examine model text of investment treaty, ET BFSI
The Prime Minister's Office (PMO) has asked the commerce ministry to examine the model text of the bilateral investment treaty (BIT) and suggest modifications to further improve the ease of doing business, according to sources. The exercise assumes significance as...
States to sustain capex focus with improved fiscal space: Ind-Ra report, ET BFSI
India Ratings and Research (Ind-Ra) has put out a report maintaining a neutral outlook on the finances of Indian states for the fiscal year 2024-2025 (FY25), showing States' aggregate revenue deficit is projected to be 0.4 per cent of gross domestic product (GDP) for...
New Zealand implements changes to employment visa program to manage net migration, ET BFSI
NEW DELHI: New Zealand government on Sunday implemented alterations to an employment visa program, citing concerns over "unsustainable" net migration and indicating the possibility of additional adjustments in the future.The modifications include the introduction of...
U.S. and China to hold talks on ‘balanced growth’ amid overcapacity concerns, Yellen says
US Treasury Secretary Janet Yellen (L) shakes hands with China's Vice Premier He Lifeng in the southern Chinese city of Guangzhou, on April 5, 2024.Pedro Pardo | Afp | Getty ImagesU.S. Treasury Secretary Janet Yellen said on Saturday that she and Chinese Vice Premier...
Being jailed for gag order violation would be ‘great honor’
Former U.S. President Donald Trump speaks at a campaign event on April 02, 2024 in Grand Rapids, Michigan.Spencer Platt | Getty ImagesDonald Trump on Saturday said he welcomed the prospect of going to jail for violating a gag order in his upcoming New York hush money...
Fearless Stock Bulls Start Hedging as Fed Policy Pivot Stalls, ET BFSI
A bumpy week for the S&P 500 Index prompted long-complacent traders to look at the hedges they’ve ignored for months.The demand for broad market insurance plunged to multi-year lows in the first quarter as US stocks posted a series of fresh highs despite growing...
Trump’s campaign said it raised $50.5 million at Florida fundraiser
Republican presidential candidate, former US President Donald Trump, arrives at the home of billionaire investor John Paulson, with former first lady Melania Trump, on April 6, 2024 in Palm Beach, Florida. Alon Skuy | Getty Images News | Getty ImagesDonald Trump's...
Lucknow administration asks banks to inform about transactions above permitted limit, ET BFSI
Lucknow: The Lucknow district election officer has directed all banks to monitor withdrawals and deposits above Rs 10 lakh.District Magistrate Surya Pal Gangwar has directed banks to send reports about all such deposits and withdrawals to the district election...
SFBs believe rupee interest derivative products will boost balance sheet resilience, ET BFSI
The Reserve Bank of India (RBI) on Friday announced its decision to allow Small Finance Banks (SFBs) to use permissible rupee interest derivative products. While announcing the key outcomes of the Monetary Policy Committee (MPC) decision, the RBI Governor Shaktikanta...
RBI directs banks and finance companies to prioritise governance, adhere to rules, ET BFSI
The Reserve Bank of India (RBI) Governor Friday directed banks and other players in the financial sector to prioritise governance and adhere to rules weeks after placing restrictions on two finance companies and a payment bank for violating regulations.“Let me...
RBI to revisit LCR framework in bid to shield banks from run, BFSI News, ET BFSI
The Reserve Bank of India (RBI) will modify its liquidity coverage ratio (LCR) framework for lenders in light of recent developments in overseas markets where patrons withdrew their banking deposits at a short notice due to the availability of instant digital payment...
Georgia prisoner mailed bombs to D.C., Alaska court, feds charge
Zoom In IconArrows pointing outwardsDavid Dwayne Cassady, inmate in Georgia. Courtesy: Georgia Department of CorrectionsA man serving a life sentence for kidnapping and other crimes while in a Georgia prison built two bombs which he mailed to a District of Columbia...
RBI permits FPIs to invest in sovereign green bonds via IFSC, BFSI News, ET BFSI
Taking fresh steps to deepen debt markets, the Reserve Bank of India (RBI) Friday said that foreign investors in the International Financial Services Centre would be permitted to invest in sovereign green bonds.“A scheme for investment and trading in SGrBs (sovereign...
“Be mindful…” RBI Governor Das flagged this to banks and NBFCs over public money during MPC meeting, ET BFSI
Reserve Bank of India governor Shaktikanta Das on Friday called upon financial entities like the NBFCs, banks to be mindful of the fact that they are dealing with public money."Let me emphasise that banks, NBFCs and other financial entities must continue to give the...
Bhutan to upgrade bitcoin mining in Himalayas as ‘halving’ looms, ET BFSI
Bhutan’s investment arm and Bitdeer Technologies Group are planning to ramp up their Bitcoin mining operation to help offset the revenue impact of an upcoming event known as the halving. The partnership between Druk Holding & Investments and Nasdaq-listed crypto...
e-Insurance in demat like format mandatory for all new policies from April 1, 2024; what is going to change?, ET BFSI
Starting from April 1, 2024, it is compulsory to hold your insurance policies in electronic format, similar to how investors hold shares in a demat account. In a notification "Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers...
RBI allows cash deposits in CDMs via UPI, ET BFSI
Mumbai: The RBI has decided to allow bank customers to deposit money in Cash Deposit Machines (CDMs) through UPI as part of its policy to enhance convenience in carrying out transactions.Deposit of cash through CDMs is currently being done primarily through the use of...
Experts decode policy impact on stock markets. Here’s what they said, ET BFSI
The Reserve Bank of India (RBI) on Friday left the repo rate unchanged at 6.5% for the 7th straight time, while remaining focused on the withdrawal of accommodation to ensure that inflation progressively aligns to the target while supporting the growth.The policy was...
Soon, you can deposit cash through UPI at ATMs, announces RBI, ET BFSI
Unified Payments Interface (UPI) has become a part of our day-to-day life in the last few years. However, we mostly use it to transfer money or scan the QR code and pay at shops. But, the usage of UPI is just not limited to payments. Now, you can withdraw cash from...
New Tax Regime Hits Pvt Sector Addition To Nps, ET BFSI
NEW DELHI: The pension scheme for the corporate and individuals, regulated by Pension Fund Regulatory and Development Authority (PFRDA), may have been hit by the new tax regime, which offers lower tax rates but no exemptions, such as, those for investment.Latest data...
Earthquake hits northeastern United States, magnitude 4.8
A magnitude 4.8 earthquake shook the northeastern United States on Friday morning.The earthquake was felt from Boston down to Baltimore at 10:23 a.m. ET, according to the U.S. Geological Survey.Many incoming flights at the three major airports in and right outside New...
Bank of Japan hints at near-term rate hike, pushing yields higher, ET BFSI
TOKYO - Bank of Japan Governor Kazuo Ueda said inflation would likely accelerate from "summer towards autumn" as bumper pay hikes push up prices, the Asahi newspaper reported on Friday, his strongest hint yet that another rate hike was possible in coming months.The...
RBI okays use of 3rd party UPI apps for payments from PPI wallets, ET BFSI
Mumbai: The RBI has decided to permit the use of third-party UPI apps for making UPI payments from PPI wallets to further enhance customer convenience and boost adoption of digital payments for small value transactions, RBI Governor Shaktikanta Das said on Friday. At...
India to broaden e-rupee distribution beyond banks to boost retail use: RBI, ET BFSI
MUMBAI - The Reserve Bank of India (RBI) plans to use non-bank payment system operators, including third-party payment app providers, to make the e-rupee more accessible to retail users, it said on Friday.The RBI piloted its central bank digital currency (CBDC) in...
RBI’s policy decision a prudent step, affirmation of goldilocks for India: Bankers, ET BFSI
RBI Governor Shaktikanta DasThe Reserve Bank of India Monetary Policy Committee announced on April 5, 2024 its decision of keeping the repo rates unchanged at 6.5 per cent for the seventh straight time. The RBI Governor Shaktikanta Das forecasts the India GDP growth...
Mutual fund managers decode RBI rate pause for investors, ET BFSI
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) in its bi-monthly monetary policy review again decided to keep the policy rate unchanged at 6.50%. The MPC of the central bank also retained its stance of remaining focussed on “withdrawal of...
Trump to be deposed in dispute with media company co-founders
Jonathan Raa | Nurphoto | Getty ImagesRepublican presidential candidate Donald Trump is scheduled to be deposed later this month by lawyers for co-founders of his social media company as part of a dispute over ownership in Trump Media & Technology Group which went...
To keep close watch on vegetable prices amid IMD’s prediction of high temperature condition: RBI Governor, ET BFSI
Mumbai: Reserve Bank Governor Shaktikanta Das on Friday said the central bank will keep a close watch on vegetable prices that may be impacted by high temperature condition which has been predicted by IMD. Earlier this week, the Indian Meteorological Department (IMD)...
British billionaire Joe Lewis fined $5 million by U.S. judge for insider trading
British billionaire and former owner of the Tottenham Hotspur Football Club Joe Lewis arrives at federal court for his sentencing in an insider trading case on April 4, 2024, in New York City. Lewis pleaded guilty to charges of committing securities fraud and...
Reserve Bank of India to revise Liquidity Coverage Ratio framework, ET BFSI
The Reserve Bank of India (RBI) will modify its liquidity coverage ratio (LCR) framework for lenders in light of recent developments in overseas markets where patrons withdrew their banking deposits at a short notice due to the availability of instant digital payment...
RBI Governor Das hints at inflation reaching 4 per cent target, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das, while unveiling the outcomes of the first bimonthly Monetary Policy Committee (MPC) meeting of FY25, characterized inflation as the prominent challenge, referring to it as "the elephant in the room." He indicated...
Biden’s battle to secure backing of anti-Trump Republicans
U.S. President Joe Biden speaks at the Pieper-Hillside Boys & Girls Club in Milwaukee, Wisconsin, on March 13, 2024.Sara Stathas | Bloomberg | Getty ImagesAllies of President Joe Biden are ramping up a charm offensive aimed at getting high-profile Republicans and...
RBI permits FPIs to invest in sovereign green bonds via IFSC; mobile app for Retail Direct gilt scheme being developed, ET BFSI
Taking fresh steps to deepen debt markets, the Reserve Bank of India (RBI) Friday said that foreign investors in the International Financial Services Centre would be permitted to invest in sovereign green bonds.“A scheme for investment and trading in SGrBs (sovereign...
Yellen kicks off China meetings with overcapacity concerns, encouraging market-oriented reforms
Chinese Vice Finance Minister Liao Min (2nd R) and U.S. Ambassador to China Nicholas Burns (R) receive U.S. Treasury Secretary Janet Yellen (R) upon her arrival in Guangzhou on April 4, 2024.Pedro Pardo | Afp | Getty ImagesBEIJING — U.S. Treasury Secretary Janet...
RBI pegs FY25 GDP growth at 7% on strong domestic economic momentum, ET BFSI
RBI Governor Shaktikanta DasThe Reserve Bank of India (RBI) has projected real GDP growth for FY25 at 7 per cent on the back of strong momentum in the domestic economy."Real GDP growth for 2024-25 is projected at 7.0 per cent with Q1 at 7.1 per cent; Q2 at 6.9 per...
RBI proposes distribution of CBDC through non banks; seeks to broaden retail access to digital currency, ET BFSI
The Reserve Bank of India (RBI), in an effort to expand the usage of the Central Bank Digital Currency (CBDC), has now proposed to allow distribution of CBDCs through Non-bank Payment System Operators. CBDC pilots in the Retail and Wholesale segments are underway with...
Free trade flaws fueled Trump’s rise in 2016 — and the problems remain, top economist says
Former U.S. President Donald Trump speaks after attending a wake for New York City Police Department (NYPD) officer Jonathan Diller, who was shot and killed while making a routine traffic stop on March 25 in the Far Rockaway section of Queens, in Massapequa Park, New...
RBI’s policy will create stability in financial market and growth for Indian economy: Nilesh Shah, ET BFSI
Nilesh Shah, MD, Kotak AMC, says “the monetary policy is reaffirming that RBI's policy will create stability in the financial market, trust in the financial market, and growth for the Indian economy. The equity markets today will be less bothered about food inflation....
Latest news on Russia and the war in Ukraine
Ukraine has prevailed to "stabilize" its battlefield positions: ZelenskyyUkraine's President Volodymyr Zelensky looks on during a press conference with French President at the presidential Elysee palace in Paris on February 16, 2024, after signing a bilateral security...
RBI to review liquidity coverage ratio norms for banks, ET BFSI
Mumbai: The RBI has decided to undertake a comprehensive review of the liquidity coverage ratio (LCR) framework for banks to prevent a situation where a sudden withdrawal of money by a very large number of customers from their accounts could precipitate financial...
Trump loses bids to dismiss classified docs, Georgia election cases
Former US President Donald Trump arrives at 40 Wall Street after his court hearing to determine the date of his trial for allegedly covering up hush money payments linked to extramarital affairs in New York City on March 25, 2024. Charly Triballeau | AFP | Getty...
Trump defends Truth Social from critics as media stock whipsaws
Donald Trump on Thursday defended his social media platform Truth Social as a growing chorus of critics — and short sellers — view its parent company as a meme stock with a vastly overinflated share price.Trump, in two lengthy posts on Truth Social, accused the...
U.S. economy world’s best; Trump claims ‘cesspool.’ Data is clear
U.S. President Joe Biden, delivers remarks on the U.S. economy and his administration's effort to revive American manufacturing, during his visit in Flex LTD, a factory that makes solar energy microinverters, in West Columbia, South Carolina, U.S. July 6,...
Trump loses bid to dismiss Georgia election case on free speech grounds
Former U.S. President Donald Trump speaks to the media at Atlanta Hartsfield-Jackson International Airport after surrendering at the Fulton County jail on August 24, 2023 in Atlanta, Georgia.Joe Raedle | Getty ImagesA judge on Thursday denied an effort by Donald Trump...
Trump Media stock is ‘a scam’ Barry Diller says
Trump Media is "a scam," and people buying its high-flying stock are "dopes," IAC and Expedia Chairman Barry Diller said Thursday in a scathing takedown of the social media company whose majority shareholder is former President Donald Trump."I mean, it's ridiculous,"...
EU drops sovereignty requirements in cybersecurity certification scheme: Document, ET BFSI
Amazon, Alphabet's Google and Microsoft may find it easier to bid for the European Union (EU) cloud computing contracts after draft cybersecurity labelling rules scrapped a requirement that vendors should be independent from non-EU laws, according to the document seen...
EU banks are ‘robust’ as some loans show stress, says watchdog, ET BFSI
LONDON - Banks in the European Union hold record high levels of capital backed by improving levels of liquidity, but there are early signs that loans, such as those linked to real estate, have come under pressure, the bloc's banking watchdog said on Thursday.The...
Southeast Asian countries consider ways to boost ‘green financing’ as region chokes on smog, ET BFSI
LUANG PRABANG: Senior finance and central bank officials from Southeast Asia and major economies met Thursday in the scenic Laotian city of Luang Prabang to discuss ways to help the region build resilience against shocks like the COVID-19 pandemic and natural...
Japan won’t intervene unless yen slides below 155, says ex-FX diplomat Watanabe, ET BFSI
TOKYO - Japanese authorities likely won't intervene in the currency market unless the yen plunges below 155 to the dollar, former top currency diplomat Hiroshi Watanabe said on Thursday.Markets are on alert for the chance of yen-buying intervention by Japanese...
Impact on RBI, biz, food & GDP, ET BFSI
When one thinks of summers, one thinks of ice cream. What does one think when one thinks of heat waves? With weather experts warning that intensity and frequency of heat waves will only increase in India in future, extreme heat will not only make daily life...
Currency markets are in a deep freeze. Rate cuts and Trump could thaw them, ET BFSI
LONDON - Traders and investors are looking to global interest rate cuts and a closely-fought U.S. election to drag the world's currency markets from their deepest lull in almost four years.Measures of historical and expected volatility - how much prices move over a...
Trump loses late bid to delay New York hush money trial
Former U.S. President Donald Trump speaks after attending a wake for New York City Police Department (NYPD) officer Jonathan Diller, who was shot and killed while making a routine traffic stop on March 25 in the Far Rockaway section of Queens, in Massapequa Park, New...
Will RBI MPC heed PM Modi’s call to prioritise growth and cut rates?, ET BFSI
The Reserve Bank of India (RBI), which has prioritised growth over inflation for nearly two years, may face challenges in shifting its focus on price stability, despite Prime Minister Narendra Modi's call for emphasizing growth. Modi's remarks came during an event...
RBI’s early rate-cut hopes dim as inflation risks linger, ET BFSI
NEW DELHI: The Reserve Bank of India will likely keep interest rates unchanged Friday, with chances of an early cut fading after the government warned of a coming heatwave and the economy grew faster than expected.The central bank will likely keep its benchmark...
Senior U.S. diplomat links AUKUS submarine pact to Taiwan
U.S. President Joe Biden delivers remarks on Australia, United Kingdom, United States (AUKUS) Partnership as Prime Minister Rishi Sunak of the United Kingdom and Prime Minister Anthony Albanese of Australia participate at Naval Base Point Loma in San Diego,...
NCLT admits insolvency resolution plea against the erstwhile promoter of DHFL Kapil Wadhawan, ET BFSI
The National Company Law Tribunal (NCLT) has admitted Union Bank of India’s application to initiate insolvency resolution proceedings against Kapil Wadhawan, the erstwhile promoter of Dewan Housing Finance (DHFL), for a Rs 3,958-crore default by the mortgage...
Trump Media is the most expensive U.S. stock to short — by far
You need a lot of cash — and guts — to short Trump Media stock right now.Trump Media, which began being publicly traded last week, is now far and away the most expensive U.S. stock to sell short, according to S3 Partners, a leading financial data marketplace...
FD investors likely to get more time to book fixed deposits at current high rates, ET BFSI
Investors who invest in fixed deposits (FDs) have had a dream run the last two years. All thanks to the repo rate hike, the interest rates on fixed deposits have touched 8% at well-known public and private sector banks. Several small finance banks even offer around 9%...
Government penalises Planify Capital for bending law to raise funds, ET BFSI
NEW DELHI: Govt has imposed a penalty on Planify Capital, which calls itself a startup marketplace to invest in startups pre-IPOs and unicorns, and a small-time retailer Mayasheel Retail for using the platform to sell shares indirectly to investors. Maximum penalty...
Former Trump advisor John Bolton says Gaza war still in early stages
Former National Security Adviser John Bolton speaks to reporters after speaking in a panel hosted by the National Council of Resistance of Iran – U.S. Representative Office (NCRI-US) at the Willard InterContinental Hotel on August 17, 2022 in Washington, DC.Anna...
Uncertainty over rate cuts wobbles US government bond market, ET BFSI
NEW YORK - Strong economic data and worries over sticky inflation are pushing investors to reassess how deeply the Federal Reserve will be able to cut interest rates this year, fueling weakness in the U.S. government bond market.Yields on the benchmark 10-year...
Latest news on Russia and the war in Ukraine
France denies readiness to talk with Russia over Ukraine: ReutersFrance has denied showing readiness for potential talks with Russia over Ukraine, refuting Moscow's account of a call on Wednesday between French Defense Minister Sebastian Lecornu and his Russian...
Indian bond yields rangebound before RBI policy decision, ET BFSI
MUMBAI - Indian government bonds were trading sideways on Thursday, as market participants awaited the Reserve Bank of India's (RBI) first monetary policy decision for this fiscal year, due on Friday.The yield on the benchmark 10-year was at 7.1004% as of 10:00 a.m....
Brothers plead guilty to Trump Media merger insider trading
Jonathan Raa | Nurphoto | Getty ImagesTwo Florida brothers pleaded guilty Wednesday in New York federal court to insider trading charges related to their purchase and sale of securities of the company that eventually merged with former President Donald Trump's social...
DA blasts Trump for trying to delay hush money trial over publicity
Former U.S. President Donald Trump attends a campaign event on April 02, 2024 in Grand Rapids, Michigan. Spencer Platt| Getty ImagesManhattan District Attorney Alvin Bragg urged a judge to reject the eleventh-hour bid by Donald Trump to delay his upcoming...
What next for RBI after completing 90 years, ET BFSI
The Reserve Bank of India (RBI) celebrated its 90th anniversary with a programme attended by Prime Minister Narendra Modi, who highlighted the institution's pivotal role in India's economic growth. As the RBI commemorates this milestone, it is not just reflecting on...
Constant vigil needed to mitigate risks in financial sector, says RBI Deputy Guv Rao, ET BFSI
Mumbai, The Reserve Bank of India (RBI) will keep continuous vigil to mitigate risks as unbridled credit growth can be deleterious to the health of a financial entity and if widespread, it could give rise to systemic concerns, Deputy Governor M Rajeshwar Rao said. In...
The European Union is introducing a tariff on imports of carbon-intensive products with implications for exporters around the world—including those in India, ET BFSI
The climate crisis show no sign of easing. Countries are falling short of their environmental pledges and the target of keeping global temperature rises below 1.5% above pre-industrial levels appears even more increasingly challenging. With progress slow, the European...
Austrian cenbank Governor Holzmann, ET BFSI
VIENNA - The European Central Bank needs to stop subsidizing commercial banks and should cut interest payments on the piles of cash lenders got from the central bank on the cheap, Austrian central bank Governor Robert Holzmann said.Commercial banks are sitting on 3.2...
India’s searing heat wave may make RBI to calm down on rate cuts, ET BFSI
A sizzling heat wave in large parts of the country will raise concerns for India’s policymakers already grappling with sticky inflation, potentially pushing back the timing for interest rate cuts, economists said.The nation’s weather office on Monday predicted...
India’s ‘Goldilocks’ economy to prompt Reseve Bank of India to keep rates on hold, ET BFSI
Strong economic growth and moderating inflation means India's central bank will have room to keep interest rates on hold at its review this week and likely until July, economists say.The Reserve Bank of India (RBI) is widely expected to keep rates unchanged on Friday,...
RBI meet starts today; panel likely to stay put on rates as CPI inflation beyond comfort zone, ET BFSI
The Reserve Bank of India’s Monetary Policy Committee is seen leaving the repo rate unchanged at 6.50% at the end of its three-day meeting, beginning on Wednesday. While the domestic growth momentum remains robust, consumer price index-based inflation is still above...
Can KYC be done via digital mode?, BFSI News, ET BFSI
Markets regulator SEBI has mandated KYC (Know Your Client) compliance for investors before starting investments in a mutual fund scheme.WHAT IS THE PROCESS FOR COMPLETING KYC BEFORE STARTING MF INVESTMENTS?To open a folio for investing in a mutual fund, an investor...
Latest news on Russia and the war in Ukraine
NATO Secretary General Jens Stoltenberg speaks during a press conference at the International Monetary Fund and World Bank annual meeting in Marrakech, Morocco, October 11, 2023.Susana Vera | ReutersNATO foreign ministers are gathering in Brussels, where the...
RBI may stay pat on rates in upcoming MPC meet this week, ET BFSI
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting scheduled from April 3 to 5 is likely to vote for continuation of the repo rate at 6.50 per cent. The majority of MPC members are anticipated to vote for maintaining the status quo in alignment...
Indian mkts commanding high valuations on fgn investors’ optimism, trust in India growth story: Buch, ET BFSI
Mumbai: Indian capital markets are commanding high valuations as foreign investors are bullish about the country's economic growth on the back of strong domestic macroeconomic data, according to Sebi Chairperson Madhabi Puri Buch. Speaking at a CII event on corporate...
New freight crew rule tests rail industry’s clout, one year after East Palestine disaster
A Union Pacific freight train is seen traveling on April 21, 2023 in Round Rock, Texas.Brandon Bell | Getty ImagesOne year after the East Palestine, Ohio train derailment created an environmental disaster, the Biden administration on Tuesday unveiled new regulations...
“Three rate cuts this year a reasonable forecast, but it is a close call,” US Fed’s Mester says, ET BFSI
Federal Reserve Bank of Cleveland President Loretta Mester said on Tuesday she continues to expect the central bank will be able to cut rates this year and noted the June policy meeting might be when the easing kicks off if the data allows it."If the economy evolves...
Trump Media sues co-founders, accuses them of ‘severe mismanagement’
The media company that Donald Trump recently took public is suing its co-founders, accusing them of failing "spectacularly" to get the company off the ground and then trying to "thwart the deal."The lawsuit filed in Sarasota County, Florida, civil court seeks to bar...
RBI stance on underlying exposure for FX derivatives unchanged: Sources, ET BFSI
The Reserve Bank of India (RBI) has not materially changed its stance on exchange-traded rupee derivatives and neither has it asked brokerages for proof of their clients' underlying forex exposure, two sources aware of the central bank's thinking said.The RBI had said...
Biden and Xi Jinping hold phone call ahead of Yellen’s trip to China
President Joe Biden spoke with Chinese President Xi Jinping on the phone Tuesday, a call the White House described as a way for the two leaders to "check in" and responsibly manage the strained U.S.-China relationship."Intense competition requires intense diplomacy to...
Bengaluru consumer court orders MakeMyTrip to pay Rs 5.5 lakh to consumer for not getting booked room in hotel, ET BFSI
A Bengaluru consumer court has directed MakeMyTrip (MMT) to compensate a Bengalurean with Rs 5.5 lakh for failing to provide a room in a London hotel despite the booking made through their platform. Mayur Bharath, a 48-year-old resident of Osborne Road, had reserved a...
RBI, BFSI News, ET BFSI
The Reserve Bank of India (RBI) on Monday said nearly 97.69 per cent of the Rs 2,000 denomination bank notes have returned to the banking system, and only Rs 8,202 crore worth of the withdrawn notes are still with the public.The total value of Rs 2,000 banknotes in...
Governor Shaktikanta Das, ET BFSI
Mumbai: The Reserve Bank of India (RBI) will ensure a strong and stable financial system that will act as a bedrock for the country's economic progress, Governor Shaktikanta Das said, underscoring central bank's efforts to shore up domestic resilience in a volatile...
Indian rupee exchange derivative volumes to plummet on RBI’s hedging rule: Brokers, ET BFSI
MUMBAI - The Indian central bank's regulation saying exchange-traded rupee derivative transactions can be undertaken only for hedging purposes will cause volumes to fall more than 80%, effectively dealing a fatal blow to this segment, four brokers said.The Reserve...
Governor Shaktikanta Das, ET BFSI
The Reserve Bank of India (RBI) will ensure a strong and stable financial system that will act as a bedrock for the country's economic progress, Governor Shaktikanta Das said, underscoring central bank's efforts to shore up domestic resilience in a volatile global...
Countries should undertake process reforms to improve economic and policy efficiency: Sanjeev Sanyal, ET BFSI
Governments worldwide should do a periodic assessment of processes under various regulations, legislations and even of the institutions as part of the process reforms to improve economic and policy efficiency, Sanjeev Sanyal, member of the Economic Advisory Council to...
SBI economist, BFSI News, ET BFSI
Chennai: The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) may cut repo rate only in the third quarter of FY25 and not before, said a top economist in the State Bank of India (SBI).In a research report, Soumya Kanti Ghosh, the Group Chief Economic...
Penal charge, interest on your loan? New RBI rules from April 1
New penal charge, interest rules on loans from April 1: The Reserve Bank of India (RBI) has introduced fresh guidelines regarding penal charges and penal interest on loan accounts, effective from April 1. These rules stop banks and finance companies from charging...
Florida voters will decide whether to protect abortion rights and legalize pot in November
A primary election voter enters a Tampa, Florida, polling place on Aug. 23, 2022.Octavio Jones | Getty ImagesThe Florida Supreme Court issued rulings Monday allowing the state's voters to decide whether to protect abortion rights and legalize recreational use of...
Major money changes from April 1, ET BFSI
The financial year 2024–25 begins today April 1, 2024 and with it, a few significant financial changes that can have an impact on your investment and spending. Let's see major financial changes and new norms that will take place in April 2024.The 'One Vehicle, One...
Trump seeks delay of hush money trial over ‘prejudicial’ press
Former U.S. President Donald Trump speaks from the hallway outside a courtroom where he is attending a hearing in his criminal case on charges stemming from hush money paid to a porn star in New York City, U.S., March 25, 2024. Brendan Mcdermid | ReutersAttorneys for...
India’s searing heat wave may make RBI to calm down on rate cuts, ET BFSI
A sizzling heat wave in large parts of the country will raise concerns for India’s policymakers already grappling with sticky inflation, potentially pushing back the timing for interest rate cuts, economists said.The nation’s weather office on Monday predicted...
Trump Media insider trading defendants signal possible guilty pleas
A Florida venture capitalist and his brother moved Monday toward potential guilty pleas in an insider trading case connected to the merger that took Donald Trump's social media company public last week.Michael Shvartsman, the venture capitalist, and his brother,...
Sebi launches SCORES 2.0 to strengthen investors’ complaint redressal system, ET BFSI
MUMBAI: The Securities and Exchange Board of India(Sebi) on Monday launched the new version of its complaint redress system.The new version of SCORES (Sebi Complaint Redress System) strengthens the investor complaint redress mechanism in the securities market by...
SBI forecasts 15% growth in deposits for FY25; expects RBI rate cut only in Q3FY25, ET BFSI
The State Bank of India (SBI) has unveiled expectations of substantial growth in both deposits and credit for the fiscal year 2025. SBI forecasted deposits to grow at a rate of 14.5 per cent-15 per cent and credit to expand between 16.0 per cent-16.5 per cent in FY25,...
Trump gag order must cover judge’s family, hush money trial DA says
Former President Donald Trump speaks during a press conference at 40 Wall Street after a pre-trial hearing on March 25, 2024 in New York City. Michael M. Santiago | Getty ImagesDonald Trump's "extreme and deliberate provocations" in his hush money trial are aimed to...
ESGDS’ Ramnath Iyer, ET BFSI
Adoption of environmental, social and governance (ESG) rules and practices is not just a choice today but a necessity driven by global value chains, government incentives and corporate initiatives. For MSMEs, ESG practices are considered pivotal for business...
Latest news on Russia and the war in Ukraine
Russian President Vladimir Putin (L) and Belarussian President Alexander Lukashenko (R) enter the hall during the plenary session of the Supreme Council of Russia and Belarus, at the Konstantin Palace on January 29, 2024, in Saint Petersburg, Russia. Contributor |...
Not just Paytm Bank, RBI took stringent action against FIs across the board in FY24, ET BFSI
The Reserve Bank of India (RBI) took stringent action across the financial space in the last fiscal and not just on Paytm Bank as is evident from the more than doubling of the penalties and fines imposed by it during the year.The central bank imposed monetary...
Multiple price auctions make a comeback, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India (RBI) is reverting to the multiple price method for all auctions of government bonds, three years after the Centre's money manager had moved to the uniform price method to curb volatility in the sovereign bond market amid the Covid...
Food charity says seven of its workers killed in Israeli airstrike
A boy holds out an empty pot as he waits with other displaced Palestinians queueing for meals provided by a charity organisation ahead of the fast-breaking "iftar" meal during the Muslim holy month of Ramadan, in Rafah in the southern Gaza Strip on March 16, 2024,...
Trump stock earnout poses ethics concerns if he’s president: experts
Donald Trump's scheduled earnout through the parent company of Truth Social presents opportunities for outside interests if he were to defeat Joe Biden and become president again, according to experts.Trump, who owns more than 50% of Trump Media and Technology Group's...
Trump Media lost $58 million last year, SEC filing shows
This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022.Stefani Reynolds | AFP | Getty ImagesThe share price of Trump Media fell sharply Monday...
Goldman Sachs sees MPC keeping policy rates unchanged on April 5 MPC meet, ET BFSI
Goldman Sachs expects the RBI MPC to keep the policy repo rate unchanged at the April 5 meeting at 6.50%, retain the monetary policy stance of ‘withdrawal of accommodation’, sound optimistic on growth, and continue to reiterate the commitment to the 4% headline...
First meeting set for April 3-5; know the full schedule for this fiscal year, ET BFSI
RBI MPC schedule for FY25: The Reserve Bank of India (RBI) has announced its schedule for the Monetary Policy Committee (MPC) meetings for the fiscal year 2024-25 (FY25), commencing from April 1, 2024. The central bank has said that the first monetary policy meeting...
‘One Vehicle, One FASTag’ norm comes into force, ET BFSI
State-owned National Highways Authority of India's 'One Vehicle, One FASTag' norm, which aims to discourage the use of single FASTag for multiple vehicles or linking multiple FASTags to a particular vehicle, has come into force from Monday, a senior official said....
RBI directs banks to step up hassle-free loans to Self Help Groups, ET BFSI
Mumbai: The RBI on Monday directed all banks to provide adequate incentives to their branches in financing the Self Help Groups (SHGs) and establish linkages with them, making the procedures simple and easy. "The group dynamics of working of the SHGs need neither be...
Israeli troops leave Gaza’s Shifa Hospital a wreck in sea of rubble
Maxar satellite imagery of the al Shifa Hospital in Gaza City, Gaza. Maxar Technologies | Getty ImagesIsraeli forces have withdrawn from Al Shifa Hospital in Gaza City after a two-week operation, the Israeli military said on Monday, leaving behind a wasteland of...
Monetary tightening measures by RBI stabilised G-sec yields, contributed to investor confidence in Indian economy: Nirmala Sitharaman, ET BFSI
Mumbai (Maharashtra) [India], April 1 (ANI): Finance Minister Nirmala Sitharaman on Monday said that measures taken for monetary tightening has stabilised yields of government securities, which has contributed to the overall financial market resilence in investor...
TP Ostwal on how new tax laws will help MSMEs and its pitfalls, ET BFSI
TP Ostwal, Tax Expert, strikes a word of caution. He says: “I would take a view that if the interest liability is already provided, which is penal in nature, why should there be a disallowance if the taxpayer makes the payment before filing his tax return to the MSME?...
Pakistan court grants Imran Khan appeal of graft conviction, sentence suspended
Pakistan's former Prime Minister Imran Khan, gestures as he speaks to the members of the media at his residence in Lahore, Pakistan May 18, 2023. Mohsin Raza | ReutersA Pakistani court on Monday granted former Prime Minister Imran Khan an appeal of his conviction for...
RBI DG Rajeshwar Rao, ET BFSI
The Reserve Bank of India's deputy governor, Rajeshwar Rao, said there is always the possibility of a trade-off between regulation and innovation.Speaking at an event in Mumbai Saturday evening, he said, "We need to remain alert to the spawning of new ideas and trends...
Real interest rates need to climb before RBI’s easing cycle begins, ET BFSI
Mumbai: Late last month, the Swiss National Bank became the first major industrial economy to unexpectedly reduce rates, raising the question whether the pivot has finally arrived for more central banks around the world to follow the example of its conservative...
RBI’s professional management helped in dealing with external uncertainties: FM Sitharaman, ET BFSI
Mumbai: Finance Minister Nirmala Sitharaman on Monday said the professional management of the Reserve Bank of India (RBI) significantly improved India's capacity to take care of external imbalances and uncertainties. Speaking at the occasion of 90th anniversary of the...
Stable, strong financial system to act as bedrock for economic progress: RBI Governor, ET BFSI
Mumbai: The Reserve Bank of India Governor Shaktikanta Das on Monday said that the endeavour of the central bank would be to provide a stable and strong financial system over the next decade, which will act as the bedrock for the country's economic progress. Over the...
Turkey opposition stuns in local elections victory over Erdogan party
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 ImagesTurkey's opposition won a stunning victory across...
“Just the trailer..” PM Modi heaps praises on the RBI for transforming India in the last 10 years, ET BFSI
The Reserve Bank of India has played an appreciation-worthy role in the transformation of India's banking system and the economy in the last ten years, Prime Minister Modi said while speaking at the central bank's 90th anniversary event in Mumbai on Monday."When I...
PM Modi at RBI’s 90th anniversary ceremony, ET BFSI
NEW DELHI: Prime Minister Narendra Modi on Monday addressed an event commemorating the 90th anniversary of the Reserve Bank of India in Mumbai.PM Modi while addressing the ceremony said that central government in its effort to revive PSU banks, injected Rs 3.5 lakh...
Baltimore bridge collapse a ‘national economic catastrophe’
The collapsed Francis Scott Key Bridge lies on top of the container ship Dali in Baltimore, Maryland, on March 29, 2024. Mandel Ngan | Afp | Getty ImagesThe collapse of Baltimore's Francis Scott Key Bridge on Tuesday is likely to send shock waves across the U.S....
RBI may hold rate yet again to focus on inflation management, say experts, ET BFSI
The RBI may again keep the key interest rate unchanged in April as it is likely to focus more on bringing down inflation to the 4 per cent target after concerns over economic growth abated with GDP growth estimated at nearly 8 per cent, said experts. Also, the Reserve...
RBI mulls to set up Digital India Trust Agency to check illegal lending apps, ET BFSI
As part of its efforts to curb growing cyber fraud, the Reserve Bank is considering establishing a Digital India Trust Agency (DIGITA) to stop the mushrooming of illegal lending apps. The proposed agency will enable verification of digital lending apps and maintain a...
Exporters seek exemption from 45-day payment rule for supplies from MSEs, ET BFSI
Indian exporters have urged the government to exempt them from the 45-day payment rule for goods bought from micro and small enterprises (MSEs) as it will impact their businesses. In a letter to Prime Minister Narendra Modi, chiefs of major export promotion councils...
RBI DG Rajeshwar Rao, ET BFSI
The Reserve Bank of India's deputy governor, Rajeshwar Rao, said there is always the possibility of a trade-off between regulation and innovation.Speaking at an event in Mumbai Saturday evening, he said, "We need to remain alert to the spawning of new ideas and trends...
Baltimore engineers begin clearing bridge wreckage to reopen channel
The cargo ship Dali sits in the water after running into and collapsing the Francis Scott Key Bridge on March 26, 2024 in Baltimore, Maryland. Kevin Dietsch | Getty ImagesEngineers in Maryland on Saturday began lifting a piece of Francis Scott Key Bridge out of the...
Sebi chief on T+0 settlements, ET BFSI
Attaining the global first of T+0 settlement involved a lot of problem-solving and personal discomforts, Sebi chairperson Madhabi Puri Buch has said giving the analogy of "onion peeling" for the achievement. Speaking at the annual convocation of the Indian Institute...
Trump asks appeals court to review ruling allowing Fani Willis to remain on Georgia election case
District Attorney Fani Willis holds a press conference in the Fulton County Government Center after a grand jury voted to indict former US President Donald Trump and 18 others on August 14, 2023, in Atlanta, Georgia. Christian Monterrosa | AFP | Getty ImagesFormer...
No hurry to cut interest rates, US Fed Chair indicates, ET BFSI
New York [US], March 30 (ANI): The US Federal Reserve on Friday indicated that it was not in any hurry to cut interest rates.In his address at an event hosted by the San Francisco Fed on Friday, US Fed Chair Jerome Powell said "We don't need to be in a hurry to...
Protesters interrupt Biden, Obama, Clinton at $25 million New York fundraiser
Protestors, calling for ceasefire in Gaza, attend a demonstration near Radio City Music Hall in Manhattan, on the day of a fundraising event for U.S. President Joe Biden with him and former U.S. Presidents Barack Obama and Bill Clinton, amid the ongoing conflict...
Russian veto points to ‘grim future’ for North Korea sanctions enforcement
Russian President Vladimir Putin and North Korean leader Kim Jong Un during their meeting at the Vostochny Cosmodrome in the Amur region on Sept. 13, 2023.Vladimir Smirnov | Afp | Getty ImagesRussia's move to effectively disband the panel of experts monitoring...
Trump selling bibles, sneakers, perfume on campaign trail unprecedented
Former President Donald Trump selling God Bless America Bibles on Truth Social.Source: Truth SocialSneakers. Perfume. Trading cards. Bibles.Those are just some of the products Donald Trump is hawking while he runs to unseat President Joe Biden.They join a sprawling...
PPF, SSY, Senior Citizen Savings Scheme, other post office schemes interest rates for April- June quarter 2024, ET BFSI
The government revises small savings schemes interest rates every quarter. For the quarter April-June 2024, the government has kept the interest rates of post office schemes unchanged from the rates prevailing during the January March 2023 quarter."The rates of...
Short yuan-long rupee trades catch the eye, RBI unlikely to stay on sidelines, ET BFSI
Mumbai: The Federal Reserve's commentary and the course of the dollar may dominate global market discussions, but a set of India-focused investors are moving their rupee trading calls to the Chinese yuan from the greenback, with Mint Road seen smoothening swings in...
Here’s all you need to know, ET BFSI
India's stock market is set to usher in the T+0 settlement system from today, making it among the handful of countries to implement the shorter trade settlement cycle. To start with, a 'beta version' will be implemented to ensure the smooth functioning of the shorter...
Exchange, deposit at RBI offices won’t be available on April 1, ET BFSI
The window for the exchange or deposit of Rs 2000 banknotes at RBI regional offices will not be available on Monday, April 1, RBI said on Thursday.The central bank cited operations related to "Annual Closing of Accounts" as the reason behind the unavailability of...
Biden okays $60 million in aid after Baltimore bridge collapse as governor warns of ‘very long road ahead’
U.S. President Joe Biden speaks about on the ongoing response to the Key Bridge collapse in Baltimore, Maryland, during brief remarks prior to departing the White House in Washington, U.S., March 26, 2024. Craig Hudson | ReutersMaryland Gov. Wes Moore warned Thursday...
Rate hikes not fully transmitted, RBI may hold repo in April meet, ET BFSI
The Reserve Bank of India (RBI) is likely to stick to its policy stance of 'withdrawal of accommodation', stating that less than half of the 250-basis-point cumulative increase in rates in the current cycle of rate hardening was transmitted to outstanding bank loans....
Turkey’s local elections — and whoever wins Istanbul — could dictate future
As the sunsets, a ferry boat glides across the waters of the Golden Horn with the Suleymaniye Mosque and the city of Istanbul, Turkey in the background. Vw Pics | Universal Images Group | Getty ImagesTurkish President Recep Tayyip Erdogan once said that whoever wins...
RBI deputy guv, ET BFSI
India can achieve a growth rate of 10 per cent in the next decade and become the second-largest economy by 2032 and the largest by 2050, given the energies and transformation driving the nation to overcome its challenges, said RBI Deputy Governor Michael Debabrata...
What would Japanese intervention to boost a weak yen look like?, ET BFSI
TOKYO - Japanese authorities are facing renewed pressure to combat a sustained depreciation in the yen, as traders drive down the currency on expectations that any further interest rate hikes by the central bank will be slow in forthcoming.The yen rallied after Tokyo...
Govt plans to borrow Rs 7.5 lakh cr from market in H1FY25 including Rs 12,000 cr via Sovereign Green Bonds, ET BFSI
The Finance Ministry plans to borrow Rs 7.50 lakh crore, 53 per cent of its overall FY25 target, in the first half, it said on Wednesday.The gross market borrowing of Rs 7.50 lakh crore shall be completed through 26 weekly auctions, it added.In the ongoing financial...
8 reasons why old tax regime is still attractive for many taxpayers in this income tax bracket, ET BFSI
If your income falls under the taxable category, you have to choose between the old tax regime and the new tax regime to calculate taxes. While the income tax rates are relatively lower in the new tax regime, the old tax regime gives you an opportunity to claim higher...
Coinbase must face US securities regulator’s lawsuit, says judge, ET BFSI
A federal judge in Manhattan on Wednesday said the US Securities and Exchange Commission's lawsuit against Coinbase can move forward, but dismissed one claim the regulator made against the largest US cryptocurrency exchange. US District Judge Katherine Polk Failla...
RBI eases AIF norms, clarifies provisioning rules, ET BFSI
The Reserve Bank of India (RBI) has relaxed its regulations concerning lenders' investments in alternative investment funds (AIFs) following feedback from stakeholders. This decision comes after the central bank tightened norms in December 2023 to address concerns...
RBI gives banks and NBFCs a breather on AIF investments, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India Wednesday cushioned the blow on banks and NBFCs that invest in Alternative Investment Funds (AIFs). The investments will exclude equity investments, but debt and hybrid instruments will continue to face additional curbs the regulator...
China’s solar, EV surplus could be dumped on global markets
U.S. Treasury Secretary Janet Yellen testifies during a hearing before the Financial Services and General Government Subcommittee of the House Appropriations Committee at Rayburn House Office Building on Capitol Hill on March 21, 2024 in Washington, DC. Alex Wong |...
RBI releases schedule for 2024-25 monetary policy meetings, ET BFSI
The Reserve Bank of India (RBI) has released the schedule for the monetary policy meetings for the financial year 2024-25.The first meeting of the year is scheduled for April 3-5, 2024.The other five meetings are scheduled for June 5-7, 2024; August 6-8, 2024; October...
Latest news on Russia and the war in Ukraine
Ukraine claims Russia knew terror attack was comingKYIV, UKRAINE - MARCH 10: Kyrylo Budanov, Chief of the Main Directorate of Intelligence of Ukraine, speaks during the farewell ceremony for Dmytro Kotsiubailo on Independence Square on March 10, 2023 in Kyiv, Ukraine....
Finance Minister Nirmala Sitharaman, ET BFSI
Finance Minister Nirmala Sitharaman has revealed that she turned down the Bharatiya Janata Party's (BJP) invitation to contest in the upcoming Lok Sabha elections due to financial constraints. Speaking at the TIMES NOW Summit 2024, Sitharaman disclosed that BJP...
Introduction of T+0 rolling settlement cycle in capital market segment implemented for selected stocks, ET BFSI
Mumbai (Maharashtra) [India], March 28 (ANI): The National Stock Exchange of India Limited (NSE) has introduced the T+0 rolling settlement cycle in the Capital Market segment.As per SEBI (Securities and Exchange Board of India) regulation, the National Stock Exchange...
TikTok makes ad buy as Senate reviews bill that could ban app
CMichael M. Santiago | Getty ImagesTikTok has launched a $2.1 million advertising campaign with a clear message for senators in tough reelection fights this year: Block the House bill that could effectively ban the app in the United States."Think about the 5 million...
Trump targets hush money trial judge’s daughter one day after gag order
Former President Donald Trump speaks during a press conference at 40 Wall Street on March 25, 2024 in New York City. Michael M. Santiago | Getty ImagesDonald Trump on Wednesday again targeted on social media the daughter of the judge in his upcoming criminal hush...
Disney and Florida settle lawsuit over DeSantis special district fight
Central Florida Tourism Oversight District board chairman Martin Garcia, right, delivers remarks as Florida Gov. Ron DeSantis listens during a news conference at CFTOD headquarters at Walt Disney World on Thursday, Feb. 22, 2024, in Lake Buena Vista, Florida. Joe...
European Central Bank looks for three new bank supervisors, ET BFSI
FRANKFURT - The European Central Bank is looking for three new bank supervisors to oversee the bloc's biggest lenders, replacing officials whose term is expiring later this year, the bank said in a vacancy notice on Wednesday.The five-year, non renewable terms of...
RBI keen to further build up record high forex reserves: Sources, ET BFSI
MUMBAI - India's central bank will keep building its forex reserves as it seeks to build larger buffers, and strong inflows into the country's equity and debt markets give it an opportunity to do so, two sources familiar with the bank's thinking said.The Reserve Bank...
Swedish central bank holds rates, flags cut in May or June, BFSI News, ET BFSI
STOCKHOLM - Sweden's central bank held its key rate unchanged at 4.00% on Wednesday as expected and said that inflation pressures had now eased enough for the policy rate to be cut in the coming months.Headline inflation is now close to the central bank's 2% target...
Qatari royal invested $50 million in pro-Trump news channel Newsmax: report
Signage for the Newsmax conservative television broadcasting network is displayed at a broadcast TV booth at the National Rifle Association (NRA) annual meeting at the George R. Brown Convention Center, in Houston, Texas on May 28, 2022. Patrick T. Fallon | Afp |...
CPAI seeks timely clarification on RBI’s new rule on exchange-traded rupee derivatives, ET BFSI
New Delhi: The Commodity Participants Association of India (CPAI) on Wednesday sought timely clarification and Frequently Asked Questions (FAQs) document from the stock exchanges on the RBI's new rule for rupee derivatives that will come into effect on April 5. The...
5 key announcements by RBI in FY24, BFSI News, ET BFSI
Representative imageWhile in the financial year 2024, India has witnessed many impactful events like geopolitical tensions worldwide, central banks globally hiking rates, the IPO boom, important M&A deals and much more, the Indian Central Bank has been quite...
Latest news on Russia and the war in Ukraine
U.S. defended Ukraine too quickly after terror attack, Russian foreign ministry saysRussian officials continue to accuse the West and Ukraine of involvement in the Crocus City Hall attack last Friday in which 139 people were killed.Ukraine denies any involvement and...
No tango with repo, yet RBI moves ease rates, ET BFSI
New Delhi: The Reserve Bank of India (RBI) may not have officially lowered policy rates yet or demonstrated any intent to do so in the immediate future, but a steady injection of funds over the past few weeks into a liquidity-parched financial system has helped...
Feds sue to seize New York apartments in alleged Mongolia scheme
Batbold Sukhbaatar of Mongolia addresses the Millennium Development Goals Summit at the United Nations headquarters in New York, September 22, 2010.Emmanuel Dunand | AFP | Getty ImagesFederal prosecutors on Tuesday sued to seize two New York City apartments worth $14...
India’s CAD dips to USD 10.5 billion in October-December: RBI, ET BFSI
New Delhi, India's current account deficit declined to USD 10.5 billion or 1.2 per cent of the GDP in October-December quarter from USD 11.4 billion in the previous three months and USD 16.8 billion a year back, the Reserve Bank of India (RBI) said on Tuesday. Net FDI...
Trump hit with gag order in New York hush money case after slamming judge
Former U.S. President Donald Trump speaks from the hallway outside a courtroom where he is attending a hearing in his criminal case on charges stemming from hush money paid to a porn star in New York City, U.S., March 25, 2024. Brendan Mcdermid | ReutersA judge on...
Trump selling $60 ‘God Bless the U.S.A.’ Bibles with Lee Greenwood
Republican presidential candidate and former President Donald Trump at a campaign rally in Rochester, New Hampshire on January 21, 2024 .Alex Wong | GettyDonald Trump on Tuesday started promoting a line of pricey Bibles in a partnership with country music star Lee...
Trump attacks hush money judge, points to daughter’s political work
Former President Donald Trump speaks during a press conference at 40 Wall Street on March 25, 2024 in New York City. Michael M. Santiago | Getty ImagesDonald Trump on Tuesday lashed out at the judge in his criminal hush money case — and verbally took aim at the...
A ‘feeble’ Trump is ‘lying about having money’
Former U.S. President Donald Trump speaks from the hallway outside a courtroom where he attended a hearing in his criminal case on charges stemming from hush money paid to a porn star in New York City, U.S., March 25, 2024. Brendan Mcdermid | ReutersA court ruling...
Trump Media stock ticker DJT debuts after DWAC merger
In this photo illustration a smartphone screen displays the logo of Donald Trump's Truth Social app March 25 2024 in Bath, England. Anna Barclay | Getty ImagesThis old stock ticker DJT is new again for Donald Trump's social media company.Trump Media & Technology...
Feds raid Sean Combs properties in LA, Miami on New York warrants
Federal agents raided homes owned by hip-hop mogul Sean Combs in Los Angeles and Miami as part of a criminal probe based in New York, NBC News reported, citing sources.U.S. Department of Homeland Security agents who raided Combs' properties were authorized to search...
Trump’s net worth reportedly soars to $6.5 billion after stock jumps
Former US President Donald Trump arrives at 40 Wall Street after his court hearing to determine the date of his trial for allegedly covering up hush money payments linked to extramarital affairs in New York City on March 25, 2024. Charly Triballeau | AFP | Getty...
UK court rules Julian Assange can appeal his extradition to the U.S.
WikiLeaks' founder Julian Assange leaves Westminster Magistrates Court in London, Britain.Henry Nicholls | ReutersWikiLeaks founder Julian Assange on Tuesday was granted permission by a U.K. court to appeal his extradition to the U.S., where he is wanted on spying...
India making mistake believing ‘hype’ about growth: Raghuram Rajan, ET BFSI
India is making a big mistake believing the “hype” around its strong economic growth since there are significant structural problems that need to be fixed for the country to meet its potential, former central bank Governor Raghuram Rajan said.The biggest challenge a...
U.S. eyes change to military command in Japan as China threat looms: Reuters
U.S. President Joe Biden (L) and Japanese Prime Minister Fumio Kishida (R) will agree next month to tighter military cooperation, including talks on the biggest potential change to Washington's East Asia command structure in decades, two sources said.Kiyoshi Ota | AFP...
India’s central bank likely to hold rates steady until at least July- Reuters poll, ET BFSI
By Milounee PurohitBENGALURU - The Reserve Bank of India (RBI) will keep interest rates unchanged until at least July, a bit longer than the U.S. central bank is expected to do so, on strong growth and still-elevated inflation, according to a firm majority of...
India’s growth projected at 6.8 per cent, inflation to decline to 4.5 percent: S&P Ratings, ET BFSI
New Delhi [India], March 26 (ANI): S&P Global Ratings has revised India's growth projection from 6.4 per cent to 6.8 per cent. After a better-than-expected 7.6% growth in fiscal year 2024 estimated by the National Statistical Office, S&P India pegged real GDP...
U.S. abstention on UN cease-fire vote triggers Netanyahu rage
US Ambassador to the United Nations Linda Thomas-Greenfield votes abstain during a vote on a resolution calling for an immediate ceasefire in Gaza during a United Nations Security Council meeting on the situation in the Middle East, including the Palestinian question,...
ECB moving towards rate cut, Italy’s Panetta says, ET BFSI
ROME, - The European Central Bank (ECB) is moving towards an interest rate cut as inflation is falling rapidly and approaching the bank's 2% target, Bank of Italy Governor Fabio Panetta said on Monday.Addressing an event in Rome, Panetta said the inflation trend was...
Australia, New Zealand condemn China-linked cyberattacks
New Zealand and China flag together Oleksii Liskonih | Istock | Getty ImagesNew Zealand has accused China of "malicious cyber activity" linked to Chinese state actors, who targeted its parliament in 2021.The government "expressed concerns today about malicious cyber...
Raise component for ETFs within cap, RBI, BFSI News, ET BFSI
Reluctance by RBI to allow higher limits for overseas equity investments through mutual funds is seen more as a risk-mitigation exercise than an effort to stabilise the rupee. The $7 bn ceiling on mutual fund investments in stocks listed on foreign bourses, and a $1...
Fed’s Goolsbee says he sees three rate cuts this year, ET BFSI
- Chicago Federal Reserve Bank President Austan Goolsbee said on Monday that at the Federal Reserve's policy meeting last week he penciled in three rate cuts for this year.At that meeting, the U.S. central bank kept its benchmark overnight lending rate in a target...
Latest news on Russia and the war in Ukraine
Putin says 'Islamist radicals' carried out terror attack, but insists on Ukraine linkIn this pool photograph distributed by the Russian state agency Sputnik, Russia's President Vladimir Putin holds a meeting on measures taken after a massacre in the Crocus City Hall...
UN Security Council demands immediate ceasefire in Gaza
US Ambassador to the United Nations Linda Thomas-Greenfield votes abstain during a vote on a resolution calling for an immediate ceasefire in Gaza during a United Nations Security Council meeting on the situation in the Middle East, including the Palestinian question,...
Donald Trump raises money for campaign and to help pay legal bills
Republican presidential nominee Donald Trump is interviewed by investor John Paulson at the Economic Club of New York luncheon in Manhattan, New York, U.S., September 15, 2016Mike Segar | Reuters Veteran investor John Paulson has called allies on Wall Street to make...
Netanyahu cancels Israeli delegation to U.S. over UN Gaza vote
Israeli Prime Minister Benjamin Netanyahu addresses the Conference of Presidents of Major American Jewish Organizations, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Jerusalem, February 18, 2024. Ronen Zvulun | ReutersIsraeli...
DWAC climbs after merger with Donald Trump’s media group approved
Pavlo Gonchar | SOPA Images | Lightrocket | Getty ImagesShares of Digital World Acquisition Corp. soared about 25% on Monday after the approval of a merger between the shell company and the social media group owned by former President Donald Trump.DWAC shareholders...
Truth Social owner Trump Media will begin trading under DJT ticker Tuesday
Jonathan Raa | Nurphoto | Getty ImagesFormer President Donald Trump's newly merged social media company will begin trading under the stock ticker symbol DJT on Tuesday, the firm said in a new regulatory filing.The company, which owns the Truth Social app platform,...
Trump New York fraud bond cut to $175 million in appeal from $454 million
Former US President Donald Trump attends a hearing to determine the date of his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City on March 25, 2024. Justin Lane | Afp | Getty ImagesA New...
Biden trolls Trump golf championship boast
Retired professional golfer Jack Nicklaus presents Republican presidential candidate and former President Donald Trump with the 2024 Trump International Golf Club Most Improved Player award on March 24, 2024, in West Palm Beach, Florida. Joe Raedle | Getty...
Trump attends hush money case hearing as he seeks trial delay
Former U.S. President Donald Trump sits in the courtroom at a hearing in his criminal case on charges stemming from hush money paid to a porn star in New York City, U.S., March 25, 2024. Brendan Mcdermid | ReutersDonald Trump is attending a New York court hearing...
UN chief urges massive Gaza aid flow, sees ‘dramatic starvation’
Secretary-General Antonio Guterres press briefing at UN Headquarters on climate crisis following the recent travel to Chile and Antarctica. Secretary-General answered questions on upcoming COP28 meeting in Dubai and continued war between Israel and Hamas.Lev Radin |...
Tammy Murphy drops out of NJ Senate race to unseat Sen. Bob Menendez
First Lady of New Jersey Tammy Snyder Murphy speaks as Governor Philip D. Murphy sworn in for his second term in office as the 56th Governor of the State of New Jersey at War Memorial Building in Trenton, New Jersey, United States on January 18, 2022.Tayfun Coskun |...
Latest news on Russia and the war in Ukraine
At least 200,000 users without power in Kharkiv and nearby regions after Russian strikes, Ukrainian officials sayMore than 200,000 electricity consumers in Kharkiv city and a regional district are without stable power supply following Russian strikes, Ukrainian...
Bank of Japan board agrees chance of meeting inflation target rising gradually, minutes show, ET BFSI
At January's two-day policy-setting meeting, the BOJ maintained its ultra-easy monetary settings but signalled its growing conviction that conditions for phasing out its huge stimulus were falling into place. Updated On Mar 25, 2024 at 07:50 AM IST TOKYO: The Bank of...
Controlled inflation gives elbow room, BFSI News, ET BFSI
Finmin has an optimistic projection on the inflation trajectory that, if shared by RBI, could signal a resumption of interest-rate cuts earlier than anticipated. True, core inflation - filtering out volatile food and fuel prices and the metric that rate-setters watch...
House Republicans ramp up Speaker Johnson pressure after budget saga
House Freedom Caucus member U.S. Representative Chip Roy (R-TX) speaks during a press conference regarding federal government spending on Capitol Hill in Washington, September 12, 2023.Elizabeth Frantz | ReutersAfter six months of budget deadlocks, stopgap funding...
Trump fraud judgment deadline looms as son complains
Former U.S. President Donald Trump speaks to the media after voting at a polling station setup in the Morton and Barbara Mandel Recreation Center on March 19, 2024, in Palm Beach, Florida. Joe Raedle | Getty ImagesDonald Trump faces the severe risk that New York's...
Kyiv, Lviv under Russian air attack; missile violates Polish airspace
Ukrainian forces continue to investigate the area where rocket fragments fell in a park in Kyiv, Ukraine on March 24, 2024.Anadolu | Anadolu | Getty ImagesRussia launched 57 missiles and drones onUkraine on Sunday, including attacking Kyiv and the western Ukrainian...
Trump praises Truth Social after DWAC stock plunge
Zoom In IconArrows pointing outwardsChart for price of shares in Digital World Acquisition Corp. in days leading up to and including shareholder approval of merger with Donald Trump's social media company.CNBCDonald Trump on Saturday told his many online followers, "I...
Biden signs $1.2 trillion spending package
U.S. President Joe Biden and Vice President Kamala Harris meet with (L-R) Senate Minority Leader Mitch McConnell (R-KY), House Speaker Mike Johnson (R-LA), Senate Majority Leader Chuck Schumer (D-NY), House Minority Leader Hakeem Jeffries (D-NY), on February 27, 2024...
All-tolerant Powell sends Wall Street into a buying frenzy, ET BFSI
Arguments on Wall Street rage anew over Federal Reserve policy — and how Jerome Powell should handle soaring asset prices. Yet for traders there’s no debate about what to do right now as they sink money across markets of all stripes.More cash has been sent to...
AYUSH Ministry Secretary, ET BFSI
New Delhi: The 7th CII AYUSH Conclave, organised by the Confederation of Indian Industry was held on Friday on the theme "Emerging trends in AYUSH: Unleashing the market potential".The conclave has brought together opinion and thought leaders from AYUSH industry,...
RBI offices to remain open for greater convenience of taxpayers on March 30, 31, ET BFSI
RBI offices to remain open for greater convenience of taxpayers on March 30, 31New Delhi: For the convenience of taxpayers, RBI offices dealing with government business and all designated branches of agency banks will keep their counters open as per normal working...
Elon Musk’s SpaceX hit with NLRB complaint over severance
The SpaceX logo is shown on a Falcon 9 rocket as it is prepared for launch to carry NASA's SpaceX Crew-8 astronauts Matthew Dominick, Michael Barratt, and Jeanette Epps, and Roscosmos cosmonaut Alexander Grebenkin to the International Space Station at the Kennedy...
Trump claims to have about $500m cash as he fights fraud appeal bond
Former U.S. President Donald Trump delivers remarks after exiting the courtroom as he attends his Manhattan courthouse trial in a civil fraud case in New York, October 18, 2023.Brendan McDermid | ReutersDonald Trump on Friday claimed to have nearly half a billion...
DWAC stock falls after merger approved
Jonathan Raa | Nurphoto | Getty ImagesThe price of shares in Digital World Acquisition Corp. fell by more than 12% Friday morning after the shell company's shareholders approved a merger with the social media company owned by Donald Trump.DWAC had opened the trading...
China securities regulator launches inspections of mutual funds, ET BFSI
SHANGHAI - China's securities regulator has launched onsite inspections of some mutual fund companies as part of efforts to strengthen management of the industry, unnerving fund managers. The securities watchdog, under newly appointed Chairman Wu Qing, vowed a week...
Trump social media firm merger approved by DWAC shareholder
This photo illustration shows an image of former President Donald Trump next to a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022.Stefani Reynolds | AFP | Getty ImagesShareholders in Digital World Acquisition Corporation...
China gloom sucks life out of rate cut cheer in Asia, ET BFSI
SINGAPORE -The yuan fell sharply on Friday and Chinese shares skidded, dragging down markets broadly in Asia and dampening an equity rally spurred by a surprise rate cut in Switzerland that had investors wagering on who will ease policy next.Traders also were on high...
Government not in favour of regulatory intervention in stock markets: Report, ET BFSI
The finance ministry is not in favour of any major regulatory intervention in the stock market, and believes that over-regulation could lead to nervousness among participants, ETNow news channel reported, quoting sources. The news comes in the backdrop of the recent...
Immigration is boosting the U.S. economy and has been ‘underestimated’
U.S. commuters.Caroline Purser | The Image Bank | Getty ImagesThe recent influx of immigration into the U.S. is helping to bolster the economy despite a raft of global challenges, according to Joyce Chang, chair of global research at JPMorgan.The U.S. Federal Reserve...
The great central bank policy reversal kicks off, BFSI News, ET BFSI
The world's biggest central banks are on the starting line of reversing a record string of interest rate hikes but the way down for borrowing costs will look very different from the way up.There will be no floodgates or fireworks. Instead, banks on opposite sides of...
RBI asks SROs in framework, ET BFSI
The Reserve Bank of India (RBI) has issued an omnibus framework for recognising Self-Regulatory Organisations (SROs) on Thursday that prescribes the broad objectives, functions, eligibility criteria and governance standards, which will be common for all SROs,...
As $1b limit nears, MFs told to suspend overseas ETF inflows, BFSI News, ET BFSI
Mumbai: India's capital markets regulator has ordered local mutual fund managers to stop accepting money in plans that invest in overseas exchange traded funds (ETFs) as a $1-billion cumulative sectoral limit for such investments is close to being breached. The...
Latest news on Russia and the war in Ukraine
Ukraine's Kharkiv hit by power outages after Russian missile strikesKharkiv faced several of power outages Friday after Russian missile strikes appeared to target Ukrainian energy infrastructure, according to Mayor Ihor Terekhov.In a series of posts on Telegram,...
P2P lenders to stop ‘liquid funds’ as RBI peers into business, ET BFSI
In a concerted attempt at self-regulation, a grouping of the country’s peer-to-peer (P2P) lending platforms has asked its members — including Liquiloans, Lendbox and Faircent — to stop offering instant withdrawal products to customers after March 31, people aware of...
Government to strengthen regional rural banks; Rs 6200 crore allotted for recapitalisation, ET BFSI
NEW DELHI: The Modi government has provided Rs 6212.03 crore to regional rural banks under the recapitalization scheme as of March 6.Regional Rural Banks (RRBs) are commercial banks owned by the Indian government that operate at the regional level in different states....
Yellen defends Biden budget against GOP senators’ fears of tax hikes
U.S. Treasury Secretary Janet Yellen testifies before a Senate Finance Committee hearing on the 2025 budget on Capitol Hill in Washington, U.S., March 21, 2024. Elizabeth Frantz | ReutersWASHINGTON — Treasury Secretary Janet Yellen on Thursday defended President Joe...
Judge orders Trump company to tell watchdog about appeal bonds
Former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, October 25, 2023.Jeenah Moon | ReutersA New York judge ordered Donald Trump's company Thursday to tell a...
SC stays govt’s fact-check unit; no CCI relief for Indian internet firms, ET BFSI
The apex court has put on hold the Centre's notification on setting up a fact-checking unit. Details on this and more in today’s ETtech Top 5.Also in this letter:■ Fishy crypto withdrawals under scanner■ Tata Sons confirms TCS share sale■ Neuralink brain chip patient...
Turkey’s central bank hikes rate to 50% as inflation rises, BFSI News, ET BFSI
Istanbul, Mar 21, 2024 -Turkey's central bank hiked its key interest rate on Thursday, resuming its tightening cycle as one of the world's highest inflation rates rose again last month.The move comes 10 days before local elections, with the country's cost-of-living...
House Speaker to invite Israel leader Netanyahu to address Congress
Speaker of the House Mike Johnson, R-La., conducts a news conference with members of the House Republican Conference in Cannon building on Wednesday, March 6, 2024, ahead of Thursday's State of the Union address.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesHouse...
RBI issues omnibus framework for recognising SROs for regulated entities, ET BFSI
The Reserve Bank on Thursday issued an omnibus framework for recognising Self-Regulatory Organisations (SROs) for its regulated entities, under which SROs would be required to establish minimum benchmarks for their members. The RBI said SROs enhance the effectiveness...
Sebi asks mutual funds to stop fresh subscriptions in overseas ETFs from April, ET BFSI
As the $1 billion investment limit is about to get breached, markets regulator Sebi has told asset management companies (AMCs) to stop fresh subscriptions in overseas ETFs with effect from April 1, 2024, according to sources aware of the development.In a communique to...
Five Hour Energy billionaire named in Senate Swiss bank tax probe
Sen. Ron Wyden, D-Ore., wants to increase unemployment benefits by $600 a week.Andrew Harnik-Pool/Getty ImagesWASHINGTON — Billionaire Five Hour Energy entrepreneur Manoj Bhargava maintained allegedly undeclared bank accounts worth hundreds of millions of dollars at...
SBI complies with SC order, gives EC alphanumerical data on electoral bonds, ET BFSI
The State Bank of India on Thursday filed a compliance affidavit with the Supreme Court, confirming that it has furnished all details regarding electoral bonds to the Election Commission.CMD Dinesh Khara in the affidavit said that SBI has provided all details of...
RBI, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India (RBI) is said to have turned down a request from HDFC Bank to permit classification of securities worth more than ₹1 lakh crore issued by the erstwhile HDFC Ltd as infrastructure bonds. This would have given regulatory leeway to the...
House passes bill to bar data brokers from selling personal information to U.S. adversaries
Representative Cathy McMorris Rodgers (R-WA), chair of the House Energy and Commerce Committee speaks during the hearing with TikTok CEO Shou Zi Chew before the House Energy and Commerce Committee in the Rayburn House Office Building on Capitol Hill on March 23, 2023...
Banks should pass reasoned orders while declaring entity/person wilful defaulter, says Bombay HC, ET BFSI
The Bombay High Court has said banks and financial institutions should pass reasoned orders before declaring an entity or person a wilful defaulter under the Reserve Bank of India's Master Circular. A division bench of Justices B P Colabawalla and Somasekhar...
U.S. rejects China’s claim to Arunachal Pradesh, says it is a part of India
A tableau of Arunachal Pradesh state during the Republic Day parade along Kartavya Path in New Delhi, India, on Friday, Jan. 26, 2024. India's Republic Day marks the anniversary of when the country's secular constitution came into effect in 1950. Bloomberg | Bloomberg...
US Federal Reserve holds rates again over ‘elevated’ inflation, ET BFSI
The US Federal Reserve held interest rates steady on Wednesday, but policymakers indicated they still expect to reduce them by three-quarters of a percentage point by the end of 2024 despite stodgier expected progress towards the central bank’s 2% inflation target.The...
Sebi & RBI’s hyperactivity catches market by surprise; but it’s for restoring credibility, ET BFSI
The recent hyperactivity at both India’s banking regulator and the securities watchdog has caught the market by surprise. Commercial lenders have taken a rap for hiding their bad loans in private-credit funds. Investment banks are under the scanner for pushing initial...
Angela Chao was intoxicated during Tesla accident in Texas
Foremost Group CEO Angela Chao was intoxicated last month when she accidentally drove her Tesla X SUV in reverse over a wall into a pond on the Texas ranch she owned with her husband, billionaire venture capitalist Jim Breyer, according to a police report released...
Fed keeps June rate cut hopes alive. How exciting is that for stock investors?, ET BFSI
While keeping the interest rates unchanged, US Federal Reserve Chairman Jerome Powell signalled that rate cuts are likely in June barring unforeseen negative surprises on the strong side. Investors were relieved after FOMC participants signalled they still expect to...
China hits back at U.S. for ‘slandering’ Hong Kong’s new security law
The flags of China and Hong Kong displayed in rows. Bloomberg Creative | Bloomberg Creative Photos | Getty ImagesChina's embassy hit back against U.S. criticism of Hong Kong's new national security law on Thursday, saying the U.S. should "respect China's...
Bank of England is expected to signal interest rate cuts could happen soon after inflation falls, ET BFSI
LONDON - The Bank of England is widely expected to indicate Thursday that interest rates could be cut in the coming months following news that inflation across the U.K. is falling faster than expected.The central bank, which sets monetary policy for the U.K., is...
Japan Post firms say BOJ’s new policy will not alter portfolios, ET BFSI
TOKYO - Japan Post Bank and Japan Post Insurance, which are among Japan's largest financial firms, said their portfolios and hedging policies will not change drastically in response to the country's first rise in interest rates in more than a decade.Japan Post...
Latest news on Russia and the war in Ukraine
Russian defeat a matter of life and death for democracy, Zelenskyy saysRussia's defeat in the war is a matter of life and death for democracy, Ukrainian President Volodymyr Zelenskyy said in his nightly address."We have to be resilient against various challenges, we...
Don’t trust Trump’s ‘impossible’ appeal bond claims, attorney general tells judges
Former U.S. President Donald Trump speaks to the media as he arrives at a Manhattan courthouse trial in a civil fraud case brought by state Attorney General Letitia James against him, his adult sons, the Trump Organization and others in New York City, U.S., October 4,...
RBI governor, Sebi chairperson meet FM Sitharaman, BFSI News, ET BFSI
New Delhi, Reserve Bank Governor Shaktikanta Das on Wednesday called on Finance Minister Nirmala Sitharaman, ahead of the central bank's interest rate-setting panel meeting next month. The minister separately held a meeting with Sebi Chairperson Madhabi Puri Buch at...
Ukraine’s success ‘matter of U.S. credibility’: Polish foreign minister
Ukraine sympathizers carry placards and fly a Ukrainian flag outside the U.S. Capitol building as the Senate works through the weekend on a $95.3 billion foreign aid bill with assistance for Ukraine and Israel on February 11, 2024 in Washington, DC. Roberto Schmidt |...
RBI bulletin, BFSI News, ET BFSI
India can sustain 8 per cent annual GDP growth and the conducive macroeconomic configuration may become a launching pad for a step-up in the country's growth trajectory, said an article on the 'State of Economy' in the central bank's March Bulletin published on...
China-based Canadian stole Tesla secrets, U.S. prosecutors say
Newly produced electric vehicles are being seen at Tesla's Shanghai Gigafactory in Shanghai, China, on December 31, 2023.Costfoto | Nurphoto | Getty ImagesA Canadian resident of China has been arrested in the United States for allegedly stealing electric car...
Biden campaign recruits Nikki Haley donors to help defeat Donald Trump
U.S. President Joe Biden speaks during a campaign event at Pullman Yards in Atlanta, Georgia, U.S. March 9, 2024. Evelyn Hockstein | ReutersA few days after former South Carolina Gov. Nikki Haley dropped out of the Republican presidential primary on March 6, veteran...
Chubb ended Trump fraud bond talks after E. Jean Carroll bond
Donald Trump and his co-defendants were in talks with insurance giant Chubb for a $464 million appeal bond in the former president's civil fraud case, but the company backed out — days after it raised eyebrows for giving Trump a bond in a separate case, according to a...
RBI says won’t drop higher risk weights for loans to PSU NBFCs after banks seek easier norms, ET BFSI
New Delhi: The Reserve Bank of India (RBI) has rejected a demand from banks to scrap higher risk weights for loans to government-backed entities such as Power Finance Corp. (PFC), Indian Renewable Energy Development Agency (IREDA) and IIFCL. In a letter sent earlier...
Latest news on Russia and the war in Ukraine
Russia's Putin says he will consider China for his first trip in new termThis pool photograph distributed by Russian state owned agency Sputnik shows Russia's President Vladimir Putin (R) and China's President Xi Jinping heading to a group photo session during the...
Monetary policy must remain in risk-minimisation mode: RBI Bulletin, ET BFSI
Mumbai: A recent reduction in cooking gas prices is likely to exert a softening effect on inflation that's also being aided by declining non-food prices, but monetary policy must remain in "risk-minimisation" mode to firmly bring consumer prices back to the legally...
RBI, BFSI News, ET BFSI
MUMBAI: RBI is yet to achieve its target inflation rate of 4% despite bringing down core inflation driven by frequent food price hikes, the central bank’s State of the Economy report said.It said that inflation readings for Jan and Feb show that the easing of...
Trump-backed Bernie Moreno wins Ohio Republican Senate race: NBC News
US Senate candidate Bernie Moreno, Republican of Ohio, speaks before former US President and Republican presidential candidate Donald Trump takes the stage during a Buckeye Values PAC Rally in Vandalia, Ohio, on March 16, 2024. Kamil Krzaczynski | Afp | Getty...
Ohio GOP Senate primary offers an early test of Trump’s endorsement strength
Ohio voters are at the polls Tuesday to choose a Republican challenger to incumbent Democratic Sen. Sherrod Brown. The competitive Senate seat in a red state is considered a must-win for Republicans who hope to regain control of the chamber in November.The race will...
Euro zone bond yields hold steady as BOJ ends negative rates, ET BFSI
LONDON - Euro zone bond yields were little changed on Tuesday, with the focus of global markets on the Bank of Japan, which ended eight years of negative interest rates. Germany's 10-year bond yield, the benchmark for the euro zone, was last up less than 1 basis point...
China seen leaving benchmark lending rates unchanged in March, ET BFSI
SHANGHAI/SINGAPORE - China is widely expected to leave benchmark lending rates unchanged on Wednesday, a Reuters survey showed, as the central bank kept a key policy rate steady last week at a time when the broad economy is starting to show some signs of...
What is the SSY interest rate for April-June 2024 quarter?, ET BFSI
The Sukanya Samriddhi Yojana Account (SSA) is designed to provide a bright future for your girl child and to promote welfare of Girl Child. Interest rate on Sukanya Samridhi Yojana (SSY) is revised every quarter by the government.What is the SSA interest rate for...
Small-dollar fatigue, major donor nerves
Republican presidential candidate and former U.S. President Donald Trump attends a watch party event to mark the Super Tuesday primary elections at his Mar-a-Lago property, in Palm Beach, Florida, U.S. March 5, 2024. Marco Bello | ReutersDonald Trump's reelection...
Top U.S. congressional Republican and Democrat say a deal has been reached on spending
Senate Majority Leader Charles Schumer, D-N.Y., left, and Speaker of the House Mike Johnson, R-La., attend a Menorah lighting to celebrate the eight-day festival of Hanukkah, in the U.S. Capitol on Tuesday, December 12, 2023. Tom Williams | Cq-roll Call, Inc. | Getty...
Mandatory two-factor Aadhaar authentication to log into NPS CRA system from this date, ET BFSI
The Pension Fund Regulatory and Development Authority (PFRDA) has enhanced the security of the National Pension System (NPS) by introducing a new security layer, two-factor Aadhaar-based authentication, which will be mandatory for all password-based users logging into...
Abortion foes settle lawsuit against museum over pro-life hats
Patrons enter the Smithsonian's National Air and Space Museum for the public reopening of the museum’s west end galleries on the National Mall in Washington, U.S. October 14, 2022.Jonathan Ernst | ReutersThe National Air and Space Museum in Washington, D.C., agreed to...
Swiss central bank calls for more action on capital regulation, ET BFSI
ZURICH - The Swiss National Bank (SNB) on Tuesday said more action needed to be taken on capital regulation following Credit Suisse's collapse and takeover by UBS a year ago.In its annual report, the SNB said bank financing needed to be "considerably strengthened"...
China’s military, state media slam U.S. after report on SpaceX spy satellites
Chinese military and state-run media on Sunday accused the United States of threatening global security, days after a Reuters report which found Elon Musk's SpaceX was building hundreds of spy satellites for a U.S. intelligence agency.Orlando Sentinel | Tribune News...
Japan stocks choppy, yen near 150 after BOJ makes landmark policy shift as expected, ET BFSI
SINGAPORE -Japanese shares were volatile on Tuesday, while the yen fell to near 150 per dollar after the Bank of Japan in a widely expected move ended eight years of negative interest rates and ushered in the nation's first policy tightening since 2007.In a week...
Hong Kong lawmakers pass new national security law
People cross an intersection in the Central business district of Hong Kong on Feb. 27, 2024.Peter Parks | AFP | Getty ImagesHong Kong lawmakers passed a new national security law on Tuesday that grants the government more power to quash dissent, widely seen as the...
Why will chief Powell & team choose to stay put?, ET BFSI
The US Federal Reserve’s two-day monetary policy meeting is slated to begin later today, and the central bank is widely expected to stay put on interest rates after the recent data on inflation.Inflation data released last week showed that consumer prices in the US...
Swiss National Bank sold forex worth nearly $150 billion in 2023, ET BFSI
The figure was a massive increase from 22.3 billion francs in foreign currencies sold by the SNB in 2022, when the bank started selling off some of its huge foreign currency holdings. The SNB's strategy has paid off, with Swiss inflation within its 0-2% target range...
Biden to host Japan PM Kishida, Philippines President Marcos for White House summit
President Joe Biden will host Japanese Prime Minister Fumio Kishida and Philippines President Ferdinand Marcos Jr. for a White House summit next month amid growing concerns about North Korea's nuclear program, provocative Chinese action in the South China Sea and...
CJI DY Chandrachud scolds lawyer during electoral bond hearing, ET BFSI
NEW DELHI: Chief Justice of India DY Chandrachud reprimanded senior advocate Mathews Nedumpara after a heated exchange during a hearing on electoral bonds on Monday."Don't shout at me," the CJI said, adding, "This is not a Hyde Park corner meeting, you are in the...
Biden targets ‘rent gouging’ landlords, as high housing costs 2024 race
Democratic presidential hopeful and former Vice President Joe Biden in Las Vegas, Nevada on February 22, 2020.RONDA CHURCHILLPresident Joe Biden will visit the battleground state of Nevada Tuesday to take aim at corporate landlords, who the White House claims are...
China accuses Evergrande of $78 billion fraud, among worst ever, ET BFSI
China Evergrande Group's alleged $78 billion revenue overstatement escalates the legal peril of founder Hui Ka Yan, who now stands at the center of one of the biggest financial fraud cases in history.The nation’s top securities regulator said the developer’s onshore...
The Bank of Japan’s experiment, BFSI News, ET BFSI
Tokyo, Mar 19, 2024 -The Bank of Japan on Tuesday announced a seismic change in direction on Tuesday, hiking interest rates for the first time in 17 years.The move represents an unwinding of an ultra-loose -- and maverick -- policy aimed at putting Japan's "lost...
Latest news on Russia and the war in Ukraine
Polish President calls for NATO to urgently ramp up spendingPolish President Andrzej Duda said Monday that NATO must urgently increase its defense spending to ensure it does not become the next target of a Russian attack.Speaking to CNBC, Duda cited unspecified German...
For sterling, the next Bank of England move is anyone’s guess, ET BFSI
LONDON - Money market pricing and short-term trading signals make the idea of the first Bank of England rate cut coming in late summer look like a clear bet. Economists and strategists are predicting a starkly different outcome for interest rates and the...
Poland says NATO must urgently ramp spending
Polish President Andrzej Duda speaks to members of the media following a meeting with U.S. President Joe Biden at the White House on March 12, 2024 in Washington, DC. Kevin Dietsch | Getty ImagesPolish President Andrzej Duda said Monday that NATO must urgently...
The Bank of Japan ends its negative interest rate policy, opting for its first hike in 17 years, ET BFSI
TOKYO - Japan's central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The short-term rate was raised to a range of 0 to 0.1% from minus 0.1% at a policy...
Border funding battle snags Congress budget talks
WASHINGTON, DC - FEBRUARY 27: U.S. President Joe Biden and Vice President Kamala Harris meet with (L-R) Senate Minority Leader Mitch McConnell (R-KY), House Speaker Mike Johnson (R-LA), Senate Majority Leader Chuck Schumer (D-NY), House Minority Leader Hakeem Jeffries...
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. Fretting over the FedStocks are limping into Monday. The three major U.S. averages have all posted at least two straight losing weeks. Last week, higher-than-expected inflation...
Elon Musk says Trump ‘came by’ a breakfast, did not ask for money
(COMBO) This combination of pictures showing Elon Musk (L) and Donald Trump (R).Afp | Getty ImagesElon Musk said that his March 3 meeting with Donald Trump in Florida was not planned, and that the presumptive Republican presidential nominee did not ask Musk to...
Trump can't secure $454 million appeal bond in New York fraud case, his lawyers say
Trump can't secure $454 million appeal bond in New York fraud case, his lawyers say
Central bank meetings could influence global market trajectory, ET BFSI
New Delhi: Many events like the Fed meeting outcome on Wednesday, the spike in the US 10-year bond yield to 4.3 per cent and the possible SEBI directives based on the stress tests in mid- and small-cap schemes will influence the market in the near term, said V. K....
Shares action points, ET BFSI
The Reserve Bank of India (RBI) has reportedly asked some banks to brace for heightened threats of cyber attacks. According to a report in Money Control, quoting industry sources, these banks have been asked to beef up their security to mitigate such risks. The RBI...
SC directs SBI to make complete disclosure of electoral bonds details by March 21, ET BFSI
New Delhi: In a third tongue-lashing to the State Bank of India, the Supreme Court on Monday told it to stop being "selective" and make "complete disclosure" of all details related to the electoral bonds scheme by March 21. The apex court said the details to be...
Inflation frustration may prompt Fed to dial back rate-cut outlook, ET BFSI
U.S. central bankers are not expected to cut borrowing costs this week, but their new economic projections may be a wild card, potentially signaling fewer interest rate cuts and a later start to the policy easing than they previously had estimated.Keeping interest...
All eyes on US, Japan central banks, BFSI News, ET BFSI
Investors may glean more on the US Federal Reserve’s resolve to ease and how close Japan is to finally exiting negative interest rates as central banks set policy for almost half the global economy.This week features the world’s biggest collection of decisions for...
Latest news on Russia and the war in Ukraine
France says Russian election took place in a 'context of increasing repression'A general view of the Russia's Central Election Commission (CEC) Headquarters in Moscow, Russia on March 17, 2024. Putin won Russian presidential election with 87.97% of the vote, first...
Centre’s mobility card to go places as RBI eases rules, ET BFSI
The National Common Mobility Card (NCMC), offering seamless digital payments across multiple public transport systems in the country, has found limited adoption to date. But that may change now, thanks to regulatory latitude over use cases.The Reserve Bank of India...
In a ‘radical shift’, frontier markets go for policy changes, ET BFSI
Frontier markets have embarked on aggressive policy shifts, and investors in local-currency bonds are starting to reap the benefits.Central banks across key frontier economies including Kenya, Nigeria and Egypt have hiked policy rates significantly in recent months,...
Sebi deadline looms large over Rs 7 lakh crore mega rally in PSU bank stocks, ET BFSI
The Rs 6.76 lakh crore blockbuster rally in PSU bank stocks, which gave 7 multibaggers in last one year, is now staring at a turning point as the Sebi deadline to meet 25% minimum public shareholding (MPS) rule ends this August.Besides improvement in fundamentals such...
Sources, BFSI News, ET BFSI
Representative imageMUMBAI -India's central bank is stepping up its fight against "exuberance" in retail lending, targeting new areas including mortgage-linked "top-up" loans, on concern about rising risks to the financial system, a dozen sources said.The Reserve Bank...
North Korea fires ballistic missiles as Blinken visits Seoul
People are seen watching television at Seoul's Yongsan Railway Station showing North Korea's first test-firing of the new strategic cruise missile Pulhwasal-3-31. North Korea fired ballistic missiles into the sea on Monday for the first time in two months, as U.S....
Sebi’s exemption to ease compliance burden for FPIs, BFSI News, ET BFSI
The decision by India's capital markets watchdog to exempt foreign portfolio investors (FPI) from additional disclosure requirements will ease their compliance burden where majority assets held by them are based in the country. The Securities and Exchange Board of...
Putin seen winning an expected landslide 88% of Russian election vote
President Vladimir Putin won a record post-Soviet landslide in Russia's election on Sunday, cementing his grip on power. However, thousands of opponents staged a noon protest at polling stations and the United States said the vote was neither free nor fair.For Putin,...
Senate should move swiftly on TikTok bill
TikTok creators gather before a press conference to voice their opposition to the "Protecting Americans from Foreign Adversary Controlled Applications Act," pending crackdown legislation on TikTok in the House of Representatives, on Capitol Hill in Washington, U.S.,...
Biden campaign has amassed $155 million in cash on hand for 2024 campaign and raised $53 million just in the last month
US President Joe Biden during a bilateral meeting with UK Prime Minister Rishi Sunak in the Oval Office at the White House on June 8, 2023 in Washington, DC.Niall Carson | Getty ImagesPresident Joe Biden's campaign has amassed $155 million in cash on hand for the 2024...
Malaysia central bank says Google misquoted exchange rate a second time, ET BFSI
Malaysia's central bank said on Saturday that Google had misquoted the ringgit's exchange rate, undervaluing the currency against the dollar, and that it would seek an explanation from the tech giant.The ringgit, which declined to a 26-year low last month, has...
Trump says there will be ‘bloodbath’ if he doesn’t get elected in November as he campaigns for GOP’s Bernie Moreno in Ohio
Former President Donald Trump claimed that he — not President Joe Biden — will protect Social Security and warned of a "bloodbath" if he loses in November as he campaigned for Senate candidate Bernie Moreno in Ohio.Trump, speaking on a wind-whipped airfield outside of...
US Fed to provide new insights on rate cut after rise in inflation, ET BFSI
NEW DELHI: The US Federal Reserve is expected to maintain its key lending rate unchanged on Wednesday, continuing discussions on potential rate cuts in the ongoing battle against inflation.The Fed has raised interest rates to a 23-year high between 5.25 and 5.50...
Rudy Giuliani should sell $3.5 million Florida condo, creditors claim
Rudy Giuliani, the former personal lawyer for former U.S. President Donald Trump, arrives at the E. Barrett Prettyman U.S. District Courthouse in Washington, D.C., on Dec. 15, 2023.Anna Moneymaker | Getty ImagesCreditors want to force Rudy Giuliani to sell his $3.5...
RBI shares tips, ET BFSI
The number of frauds in the banking sector has increased significantly in the last few years. To protect customers against scams, the Reserve Bank of India (RBI) has time and again come up with various guidelines and to-do lists. What are things you need to keep in...
RBI governor, BFSI News, ET BFSI
MUMBAI: RBI governor Shaktikanta Das on Friday said that with the advent of AI, cybersecurity challenges can rise manifold, and called upon financial institutions to dedicate substantial efforts to protect customer information.Regulated entities serve as repositories...
Former Vice President Mike Pence will not endorse Trump in 2024
Former U.S. Vice President Mike Pence arrives to speak at the Republican Jewish Coalition Annual Leadership Summit in Las Vegas on Oct. 28, 2023.Steve Marcus | ReutersWASHINGTON — Former Vice President Mike Pence said Friday that he would not endorse his former boss...
RBI steps up scrutiny of retail lending, targets top-up home loans, ET BFSI
MUMBAI: India's central bank is stepping up its fight against "exuberance" in retail lending, targeting new areas including mortgage-linked "top-up" loans, on concern about rising risks to the financial system, a dozen sources said.The Reserve Bank of India (RBI) is...
RBI governor asks banks to plug gaps in customer grievance mechanisms, ET BFSI
The Reserve Bank of India has told banks and other financial intermediaries to plug deficiencies in customer grievance mechanism and ensure fair pricing of products and services, transparency in dealing with customers and avoid mis-selling. Governor Shaktikanta Das...
What are RBI’s draft guidelines on climate-related financial disclosures, ET BFSI
The Reserve Bank of India (RBI), in its ongoing commitment to fostering financial stability and sustainability, has introduced draft guidelines on climate-related financial disclosures for regulated entities within the financial sector. These guidelines represent a...
Macron doubles down on NATO deployment in Ukraine
A photo of a television screen shows French President Emmanuel Macron during a televised address to the nation, made from the Elysee Palace, after signing into law a pensions reform, in Paris, on April 17, 2023.Ludovic Marin | AFP | Getty ImagesFrench President...
The RBI’s liquidity stance and its effect, BFSI News, ET BFSI
The Reserve Bank of India's liquidity stance has not convinced several experts, including even a member of the Monetary Policy Committee. What is it that the RBI is doing with liquidity, and why is it affecting the market. ET explains:What is the RBI’s approach...
India okays EV policy with tax relief to rev up manufacturing dream & lure foreign players like Tesla, ET BFSI
The Indian government has given the green light to a new electric vehicle scheme with tax relief aimed at positioning India as a prime manufacturing hub. This comes at a time when the Asian nation seeks to attract foreign money for local production from the likes of...
Trump Georgia election case can proceed if DA or prosecutor removes themselves
Fulton County District Attorney Fani Willis speaks at a press conference next to prosecutor Nathan Wade after a grand jury brought back indictments against former President Donald Trump and his allies in their attempt to overturn the state's 2020 election results, in...
RBI imposes penalty on Bank of India, Bandhan Bank, ET BFSI
The Reserve Bank of India (RBI) on Wednesday said it has imposed a penalty of Rs 1.4 crore on Bank of India for non-compliance with certain regulatory norms. It has also imposed a penalty of Rs 29.55 lakh on private sector lender Bandhan Bank for non-compliance with...
Government mandates Aadhaar use for availing scholarships, benefit of schemes for persons with disabilities, ET BFSI
NEW DELHI: The government has made it compulsory to use Aadhaar as an identity document for accessing six scholarships and benefiting from numerous schemes and initiatives designed for individuals with disabilities. Those who do not possess Aadhaar numbers must...
Regulators now inclined to share data; come together to take on wrongdoers, ET BFSI
Not so long ago, the exchange of information among financial sector regulators on wrongdoings and sharp practices by market participants was informal in nature. They mostly worked in silos that were criticised as attempts to protect their turfs. The result was the...
AI and automation justify shorter workweek, Democrats argue
Senate Senate Health, Education, Labor, and Pensions Committee Chairman Bernie Sanders (I-VT) questions witnesses with ranking member Sen. Bill Cassidy (R-LA) during a hearing about working hours in the Dirksen Senate Office Building on Capitol Hill on March 14, 2024...
Kipal Sibal takes dig at PM Modi over electoral bonds data, ET BFSI
Rajya Sabha MP Kapil Sibal Friday launched a veiled attack on Prime Minister Narendra Modi a day after the Election Commission published the electoral bonds data shared by the State Bank of India on the orders of the Supreme Court.Reacting to the electoral data bond,...
First ship carrying aid approaches Gaza Strip as Israel accused
The Open Arms vessel docked in the Cypriot port of Larnaca.- | Afp | Getty ImagesAn aid ship was approaching the Gaza Strip's coastline on Friday with much-needed deliveries for the Palestinian people, as relief organizations warn that thousands in the besieged...
Sebi board to consider allowing employees to donate on social stock exchange: Buch, ET BFSI
Sebi chairperson Madhabi Puri Buch on Thursday said the regulator's board will consider a proposal for allowing staff to donate money for causes through the social stock exchange (SSE). Speaking at an event to mark the listing of first five non-profits on the newly...
SC pulls up SBI for not sharing unique serial number on poll bonds, issues notice, ET BFSI
The Supreme Court of India on Friday pulled up the State Bank of India for not sharing the unique serial numbers provided on the now-banned electoral bonds, data of which was made public yesterday. The apex court noted that the SBI did not disclose the unique...
Trump hush money prosecutor open to trial delay of one month
Manhattan District Attorney Alvin Bragg speaks during a news conference at his office in New York City on Feb. 22, 2024.Brendan Mcdermid | ReutersManhattan District Attorney Alvin Bragg on Thursday told a judge that he does not oppose postponing the start of the...
El Salvador to transfer ‘big chunk’ of bitcoin to physical vault, ET BFSI
El Salvador will transfer "a big chunk" of its Bitcoin assets to an offline device that will be stored in a physical vault within the Central American country's territory, President Nayib Bukele said on Thursday."We've decided to transfer a big chunk of our Bitcoin to...
Biden’s billionaire tax hits the super-rich. Can a wealth tax work?
Calls for a wealth tax on the world's super-rich are once again gaining attention after U.S. President Joe Biden said he would impose a new "billionaire tax" on the country's wealthiest if re-elected in November.Outlining his 2025 budget proposals on Monday, Biden...
China’s central bank leaves key policy rate unchanged, as expected, ET BFSI
China's central bank on Friday left a key policy rate unchanged as expected when rolling over maturing medium-term loans.The People's Bank of China (PBOC) said it was keeping the rate on 387 billion yuan ($53.80 billion) worth of one-year medium-term lending facility...
What recent RBI crackdowns on JM Financial, IIFL and Paytm Payments Bank show, ET BFSI
When scores of companies complained to the Reserve Bank of India (RBI) that they lost hundreds of crores of rupees in currency derivatives manipulatively sold by banks, the central bank slapped the lenders with penalties in the range of Rs 5-15 lakh. That was 2011....
Latest news on Russia and the war in Ukraine
Russians head to the polls on Friday in a presidential election that is all but certain to grant President Vladimir Putin a fifth term in power.Voting will take place over three days, though there is no credible opponent to the incumbent leader.Ukraine's Foreign...
Uniform KYC for all — opening bank account to buying insurance to investing in stocks, mutual funds, ET BFSI
Be it opening a bank account, investing in a mutual fund or buying a life insurance policy, submitting your know-your-customer (KYC) details is a must. Just submitting it is not enough, you may also need to update your KYC documents multiple times in some cases. It...
Putin sure to win but Kremlin wants a landslide
Vladimir Putin at a rally at Manezhnaya Square near the Kremlin on March 18, 2018.Mikhail Svetlov/Getty ImagesThere are no surprises over who will win Russia's presidential election this coming weekend with incumbent, Vladimir Putin, set to win a fifth term in office,...
Here’s a complete list of donors who contributed Rs 10 crore or more, ET BFSI
The Election Commission has published detailed data on electoral bonds on its website, sourced from the State Bank of India (SBI), in adherence to a deadline set by the Supreme Court. The information reveals several notable buyers of electoral bonds, including...
Pakistan’s central bank investigates misprinted Rs 1,000 notes in circulation, ET BFSI
KARACHI: Pakistan's central bank has said it was investigating how some misprinted banknotes of Rs 1,000 denomination were issued by it to commercial banks, after a video went viral showing the backside of some of those notes as blank, according to a media report on...
FCA would not block an end to free banking in Britain, BFSI News, ET BFSI
LONDON - Britain's Financial Conduct Authority "would not stand in the way" of moves to end Britain's free banking model if lenders chose to offset rising regulation costs by charging fees for holding accounts, its CEO said on Thursday.In remarks prepared for a speech...
Deadline to update Aadhaar details for free extended again; check latest date, how to update, ET BFSI
The government has extended the deadline for updating free Aadhaar details until June 14, 2024 from the current March 14 deadline.According to the UIDAI post on social media X, “UIDAI extends free online document upload facility till 14th June 2024; to benefit...
5 flouting PSBs laid out action plan to meet minimum public shareholding requirement: Official, ET BFSI
New Delhi [India], March 14 (ANI): Five out of 12 Public Sector Banks (PSBs) are still not complying with the minimum public shareholding (MPS) norm (25 per cent), a senior government official said on Thursday.Speaking to ANI, Vivek Joshi, Secretary at the Department...
Govt unveils new scheme to promote RuPay debit cards and low-value BHIM-UPI transactions, ET BFSI
In a major push towards accelerating digital transactions and advancing financial inclusion, the Ministry of Finance, Department of Financial Services, has introduced an incentive scheme to promote widespread adoption of digital payments, focusing on RuPay Debit Cards...
Latest news on Russia and the war in Ukraine
U.S. sees no sign Russia is ready to use nuclear weaponsThe White House said it had no reason to adjust the U.S.' "nuclear posture" after comments by Russian President Vladimir Putin Wednesday in which he said Russia was "technically" ready for nuclear war.Asked to...
Regulatory curbs to hit IIFL Finance, JM Financial Products, say rating companies, ET BFSI
Mumbai: Crisil Ratings has said that the Reserve Bank of India's regulatory measures will directly impact JM Financial Products' business in IPO financing and lending against shares, while restrictions placed on IIFL Finance will reduce its overall assets under...
Here’s the list of authorised banks, ET BFSI
National Highway Authority of India (NHAI) has issued an important advisory for Paytm Payments Bank-issued Fastag users. According to the official press release, NHAI has advised the users to get a new Fastag issued by another bank before March 15 to make seamless...
Janet Yellen says Biden spurred electric vehicle investment boom
U.S. Treasury Secretary Janet Yellen testifies before a House Financial Services Committee hearing on the “Annual Report of the Financial Stability Oversight Council" on Capitol Hill in Washington, D.C., on Feb. 6, 2024.Amanda Andrade-rhoades | ReutersTreasury...
Hunter Biden declines to attend public hearing on House impeachment inquiry
Hunter Biden, son of President Joe Biden, makes a statement to the press outside the U.S. Capitol about testifying publicly to the House Oversight and Accountability Committee on Wednesday, December 13, 2023. Kevin Dietsch | Getty Images News | Getty ImagesHunter...
Chubb CEO defends backing Trump appeal bond in E. Jean Carroll case
Evan Greenberg, president and chief executive officer of Chubb Ltd., arrives for the morning session of the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, U.S., on Wednesday, July 10, 2019. Patrick T. Fallon | Bloomberg | Getty ImagesThe CEO of...
Judge dismisses three counts against Trump in Georgia election case
Judge Scott McAfee presides over a hearing regarding media access in the case against former US President Donald Trump and 18 co-defendents, at the Fulton County Courthouse in Atlanta, Georgia, on August 31, 2023.Arvin Temkar | AFP | Getty ImagesA judge on Wednesday...
Hunter Biden declines to attend public hearing on House impeachment inquiry
Hunter Biden, son of President Joe Biden, makes a statement to the press outside the U.S. Capitol about testifying publicly to the House Oversight and Accountability Committee on Wednesday, December 13, 2023.Bill Clark | Cq-roll Call, Inc. | Getty ImagesHunter Biden...
House passes bill that could lead to TikTok ban; fight shifts to Senate
The House approved a bill Wednesday that calls for China tech giant ByteDance to divest TikTok or the popular social video app will effectively be banned in the U.S.The measure passed with a resounding 352-65 vote and with one member voting present.The legislation,...
RBI boosts banking liquidity by taking delivery of $5 billion dollar/rupee swap, ET BFSI
The Reserve Bank of India (RBI) successfully concluded a $5-billion dollar/rupee swap maturing on Monday, infusing over Rs 40,000 crore of durable liquidity into the financial system. This move, intended to fortify foreign exchange reserves, comes amid sustained...
Passive investments will make way into India once government bonds become part of global indices: SEBI chief, ET BFSI
Mumbai (Maharashtra) [India], March 13 (ANI): A lot of passive investments will automatically come into the country once the government of India bonds become part of the global indices, said Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri...
Finmin asks PSU banks for comprehensive review of their gold loan portfolio, ET BFSI
The finance ministry has directed all state-owned banks to review their gold loan portfolio as instances of non-compliance with regulatory norms have been noticed by the government. The Department of Financial Services (DFS) in a communication addressed to heads of...
RBI asks for info on gold loan frauds, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India has asked banks to share with it information on frauds reported in gold loans, actions taken by them to recover the money and defaults in the portfolio, said people with knowledge of the matter.The RBI also asked banks to review their...
Uniform KYC for all — opening bank account to buying insurance to investing in stocks, mutual funds, ET BFSI
Be it opening a bank account, investing in a mutual fund or buying a life insurance policy, submitting your know-your-customer (KYC) details is a must. Just submitting it is not enough, you may also need to update your KYC documents multiple times in some cases. It...
Some key things to know about the scheme scrapped by SC, ET BFSI
The SBI on March 13 filed an affidavit with the Supreme Court confirming that it has supplied the data on electoral bonds to the Election Commission, as ordered by the top court.In the affidavit, SBI revealed that a total of 22,217 electoral bonds were purchased and...
Tech VC Keith Rabois threatens Republicans
Keith Rabois of Khosla Ventures attends Day 3 of TechCrunch Disrupt SF 2013 at San Francisco Design Center on September 11, 2013 in San Francisco, California.Steve Jennings | Getty ImagesA Republican megadonor on Tuesday threatened to cut off campaign contributions to...
SBI files compliance affidavit, says 22,217 bonds were purchased and 22,030 redeemed, ET BFSI
The State Bank of India (SBI) on March 13 filed a compliance affidavit with the Supreme Court, wherein it confirmed that it has provided the data on electoral bonds to the EC as sought by the apex court.A day earlier, India's biggest bank had submitted the details of...
Taiwan’s vice president-elect on ‘personal trip’ to U.S.; China objects
Taiwan's vice president-elect and former de facto ambassador to Washington, Hsiao Bi-khim, is in the United States this week for a private visit, a senior Taiwanese official and a U.S. spokesperson said on Tuesday, a trip China said it "firmly opposes."Annabelle Chih...
Is fractional ownership of real estate safe? Here’s how SEBI is making it safer for retail investors, ET BFSI
Real Estate Investment Trusts (REITs) have a long history in financial markets across the world. In India, SEBI introduced regulations specific to REITs back in 2014. Today REITs are no longer alien to seasoned investors. Investors invest in a REIT which in turn...
What EC Electoral Bonds data may expose, and the veiled realities within, ET BFSI
The State Bank of India (SBI) yesterday provided details regarding electoral bonds (EB) to the Election Commission (EC). These details include the purchase date of each EB, the purchaser's name, and the amount of the bond. Additionally, the details of EB contributions...
U.S. spy chief ‘cannot rule out’ that China would use TikTok to influence U.S. elections
China could use social media app TikTok to influence the 2024 U.S. elections, U.S. Director of National Intelligence Avril Haines told a House of Representatives intelligence committee hearing on Tuesday.Anadolu | Anadolu | Getty ImagesChina could use social media...
Centre exempts gold import by RBI from customs duty, agri cess, ET BFSI
The Centre on Wednesday said that gold imported by the Reserve Bank of India will be exempted from import duty and Agriculture Infrastructure Development Cess(AIDC).Generally, the import of gold attracts 15% import duty, including 5% of AIDC.In January the centre...
Latest news on Russia and the war in Ukraine
Russia is technically ready for nuclear war, Putin saysRussian President Vladimir Putin gestures during a meeting with participants of the International Youth Festival, March 6, 2024 in Sirius territory, Sochi, Russia. Putin is visiting the Stavropolsky Krai and...
RBI asks for info on gold loan frauds, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India has asked banks to share with it information on frauds reported in gold loans, actions taken by them to recover the money and defaults in the portfolio, said people with knowledge of the matter.The RBI also asked banks to review their...
Voters blame businesses more than Biden for sticky inflation
President Joe Biden speaks during an event about lowering costs for American families at the Granite State YMCA Allard Center of Goffstown on March 11, 2024 in Goffstown, New Hampshire. Sophie Park | Getty Images News | Getty ImagesPresident Joe Biden is starting to...
New York AG questions Trump cash reserves in $464 mln fraud appeal
Former U.S. President Donald Trump speaks as he arrives at a Manhattan courthouse, for the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, in New York City, U.S., October 2,...
Milei accused of hypocrisy in a scandal over a 48% pay rise
Argentina's President Javier Milei gestures while delivering his first policy speech to parliament during the inauguration of the 142nd ordinary session of Congress in Buenos Aires on March 1, 2024.Juan Mabromata | Afp | Getty ImagesArgentina's Javier Milei has been...
Special Counsel Robert Hur testifies about Biden classified documents
Special Counsel Robert Hur is testifying to Congress on Tuesday about his investigation into how President Joe Biden handled classified documents after he was vice president.Hur is speaking to the House Judiciary Committee about his report, which concluded that Biden...
SC tells SBI to furnish data on electoral bonds by the end of today’s business hours, ET BFSI
The Supreme Court on Monday dismissed State Bank of India's application seeking to extend the deadline to furnish details of electoral bonds including names of purchasers and political parties that encashed them, holding that the information was "readily available"...
Governor Shaktikanta Das on why RBI gave one month notice to Paytm, ET BFSI
Earlier this week, the Reserve Bank of India (RBI) definitively stated that it would not reconsider its decision to impose stringent restrictions on the operations of Paytm Payments Bank. This announcement from the central bank effectively quashes any speculation in...
Customer complaints with RBI Ombudsman up 68% in 2022-23, BFSI News, ET BFSI
Customer complaints with the Reserves Bank Ombudsman were up by 68 percent in 2022-23 according to the Annual Report of Ombudsman Schemes released by the Reserve Bank on Monday.Under the Reserve Bank Integrated Ombudsman Scheme (RBIOS), the central bank received...
7 ways how it can help fractional real estate investors, ET BFSI
The new regulations for medium and small REITs, especially the reduction of the minimum ticket size to Rs 10 lakh, by the Indian market regulator SEBI, is touted to be a game changer for the new-age fractional investment platforms in the countryHere's a primer on how...
Customer complaints with RBI Ombudsman up 68% in 2022-23, BFSI News, ET BFSI
Customer complaints with the Reserves Bank Ombudsman were up by 68 percent in 2022-23 according to the Annual Report of Ombudsman Schemes released by the Reserve Bank on Monday.Under the Reserve Bank Integrated Ombudsman Scheme (RBIOS), the central bank received...
Biden campaign takes aim at Trump stance on Social Security, Medicare in new advertisement
U.S. President Joe Biden disembarks Air Force One as he arrives in Manchester, New Hampshire, on March 11, 2024.Kevin Lamarque | ReutersThe reelection campaign of President Joe Biden on Monday released a new digital advertisement targeting Donald Trump over comments...
India central bank takes delivery of $5 billion dollar/rupee swap, bankers say, ET BFSI
By Nimesh Vora and Siddhi NayakMUMBAI - The Indian central bank did not roll over and took delivery of the $5 billion dollar/rupee swap that matured on Monday, aiming to bolster foreign exchange reserves and rupee liquidity, four bankers said.The Reserve Bank of...
What does it mean?, BFSI News, ET BFSI
Justice Kolse Patil, Former Bombay High Court Judge, CAA cannot be implimented so easily. The ruling compensation is using it to divert, make chaos and keep people under tension.What do you think of the NDA government saying that they will notify as the rules of the...
Former U.S. official’s work for Chinese client stirs concern over disclosure loopholes
Former U.S. Attorney General Loretta Lynch wrote a letter to a senior Defense Department official last July on behalf of SZ DJI Technology Co Ltd, asking that her client be removed from a list of Chinese military companies.Alex Wong | Getty Images News | Getty...
Will SBI disclose poll bond details today?, BFSI News, ET BFSI
NEW DELHI: Supreme Court on Monday directed the State Bank of India (SBI) to disclose the details of electoral bonds encashed by political parties to the Election Commission by March 12. The court warned SBI that it may face consequences for 'wilful disobedience' if...
Latest news on Russia and the war in Ukraine
Vatican says end to Russian aggression is first condition for Ukraine peaceSt Peters Square, Vatican City, Rome, Italy.Gonzalo Azumendi | The Image Bank | Getty ImagesThe first condition for any negotiations to end the war in Ukraine is that Russia should halt its...
Bank of Japan chief Kazuo Ueda slightly tones down optimism on economy, ET BFSI
TOKYO - Bank of Japan Governor Kazuo Ueda said on Tuesday the economy was recovering but also showing some signs of weakness, offering a slightly bleaker assessment than in January in a nod to a recent batch of soft data on consumption.The remarks come ahead of the...
Biden wants to hire 2,000 air traffic controllers in 2025
US President Joe Biden delivers remarks at the National League of Cities Congressional City Conference in Washington, DC, on March 11, 2024. Jim Watson | AFP | Getty ImagesThe Biden administration said Monday it is seeking funding from Congress to hire another 2,000...
Biden blasts Trump over Social Security, Medicare cut ideas
Republican presidential candidate and former U.S. President Donald Trump gestures to supporters as he hosts a campaign rally at the Forum River Center in Rome, Georgia, U.S. March 9, 2024. Alyssa Pointer | ReutersPresident Joe Biden on Monday quickly slapped down...
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. Speed bumpThe stock market's rip higher took a break last week. All three of the major U.S. averages dipped from their lofty highs. The Dow Jones Industrial Average fell 0.9% in...
Trump claims he has ‘never been a fan’ of Ken Langone
Ken LangoneAnjali Sundaram | CNBCDonald Trump claimed in an interview on CNBC that he had "never been a fan" of Home Depot co-founder Ken Langone, the billionaire investor who endorsed the former president's primary challenger, Nikki Haley.Trump's critique was...
Trump again attacks E. Jean Carroll, as he appeals rape defamation penalties
Republican presidential candidate and former U.S. President Donald Trump gestures to supporters during a campaign rally at the Forum River Center in Rome, Georgia, U.S. March 9, 2024. Alyssa Pointer | ReutersDonald Trump on Monday once again denied writer E. Jean...
How will RBI’s directive to allow customers to choose card networks impact the credit card industry?, ET BFSI
In a significant move aimed at empowering consumers and fostering a more competitive credit card industry, the Reserve Bank of India (RBI) has issued a directive prohibiting credit card issuers from entering into restrictive agreements with card networks. This...
Trump suggests he would not oppose bitcoin
Donald Trump suggested Monday that if he were elected president again, his administration would not crack down on the use of bitcoin or other cryptocurrencies using regulatory authority."I have seen there has been a lot of use of that," Trump said, referring to the...
RBI ups scrutiny on credit cards, BFSI News, ET BFSI
The Reserve Bank of India’s strict scrutiny of cobranded credit cards – a sector that has seen strong growth recently – in recent times is aimed at preventing backdoor entry into the highly regulated credit card industry, people aware of the situation told ET.The...
Options for Customers with Money in Bank or Paytm Wallet, ET BFSI
Late last month, the Reserve Bank of India (RBI) issued a notification regarding the ban on accepting deposits or top-ups to the Paytm Payments Bank. RBI banned the services due to “persistent non-compliance and continued material supervisory concerns in the bank”...
SEBI notifies micro-REITs regulations; move to boost transparency, investments, ET BFSI
The Securities and Exchange Board of India (Sebi) Friday notified the regulations to govern small and medium real estate investment trusts (SM-REITs) of income-generating and completed properties, which may include commercial assets, rental housing, warehousing, and...
Need regulators as partners rather than taskmasters for startups, says Anand Mahindra, ET BFSI
Startups in the country are “lost in the maze of existing regulations and controls that are applied to them sometimes even retrospectively”, Anand Mahindra, chairman Mahindra Group, said and called for increased ease of doing business for new enterprises.Delivering...
Head of Pakistan’s biggest bank to lead finance ministry, sources say, ET BFSI
ISLAMABAD - The CEO of Pakistan's largest bank was appointed as a federal minister, according to a government document seen by Reuters, and sources said he was likely to be appointed Finance Minister as the South Asian nation looks to tide over a troubling time for...
All eyes on RBI in wake of rupee’s likely push higher, $5 bln swap maturity, ET BFSI
The Indian rupee's likely rise at open on Monday and a $5 billion swap maturity will mean that all the focus will be on the Reserve Bank of India, traders said.Non-deliverable forwards indicate rupee will open at 82.74-82.75 to the U.S. dollar compared to its previous...
Biden’s 2025 budget marries progressive tax hikes with populist campaign planks
U.S. President Joe Biden delivers remarks, during a campaign event focusing on abortion rights at the Hylton Performing Arts Center, in Manassas, Virginia, U.S., January 23, 2024. Evelyn Hockstein | ReutersPresident Joe Biden's 2025 funding proposal set to be released...
How RBI is upping the scrutiny on credit cards, ET BFSI
The Reserve Bank of India’s strict scrutiny of cobranded credit cards – a sector that has seen strong growth recently – in recent times is aimed at preventing backdoor entry into the highly regulated credit card industry, people aware of the situation told ET.The...
SC dismisses SBI’s plea for extension, seeks details by tomorrow, ET BFSI
A five-judge Constitution bench of the Supreme Court on Monday dismissed the State Bank of India's plea seeking extension till June 30 to furnish details regarding electoral bonds. The SC has asked SBI to provide details by March 12.The SBI has been asked to disclose...
Latest news on Russia and the war in Ukraine
India says its citizens were ‘duped’ to serve in the Russian armyIndia is seeking the release of its nationals who have been "duped" into serving in the Russian army, a spokesperson for the Indian Ministry of External Affairs said Friday, in a rare rift from...
Sebi extends deadline for public comments on revamp of nominations framework, ET BFSI
Sebi extends deadline for public comments on revamp of nominations frameworkMarkets regulator Sebi has extended the deadline till March 28 for submitting public comments on the proposal to revamp the nominations framework, a move aimed at reducing unclaimed assets in...
Fin min to banks, ET BFSI
Gurgaon: The ministry of finance has directed all public sector banks to ensure compliance with provisions of the Real Estate (Regulation and Development) Act, 2016, while allowing developers to withdraw funds from Rera accounts. The move came a week after H-Rera...
SC pulls up SBI for not furnishing details, asks ‘what steps have you taken in 26 days’, ET BFSI
NEW DELHI: The Supreme Court on Monday pulled up State Bank of India (SBI) over delay in disclosure of details about each electoral bond encashed by political parties and said it expects some candour from the bank, which is the authorised financial institution under...
Trump denies Carroll’s claims after posting $91.6 million bond
Republican presidential candidate and former President Donald Trump reacts to supporters as he arrives on stage during a Get Out the Vote Rally March 2, 2024 in Richmond, Virginia.Win Mcnamee | Getty ImagesFormer President Donald Trump on Saturday stood by his 2019...
Sen. Britt denies misusing sex trafficking anecdote in Biden rebuttal
U.S. Sen. Katie Britt (R-AL) speaks at a press conference on border security at the U.S. Kevin Dietsch | Getty ImagesAlabama Republican Sen. Katie Britt on Sunday denied the allegation that she misrepresented the experience of a sex-trafficking survivor to attack...
US, UK, French military shoot down Houthi drones after attack on bulk carrier, destroyers
The container ship, Safeen Pride, with a destination of 'HODEIDAH (ARMED GUARDS)' seen at sea on January 17, 2024 in Djibouti, Djibouti. Luke Dray | Getty ImagesU.S., French and British forces downed dozens of drones in the Red Sea area overnight and on Saturday after...
Sibal on SBI plea on electoral bonds issue, ET BFSI
Terming the SBI's reasons for seeking an extension in disclosing electoral bond details "puerile", Rajya Sabha MP Kapil Sibal Sunday said it is the Supreme Court's responsibility to protect its dignity and that it "would not be easy" to accept the bank's plea when a...
President Biden signs $460 billion spending bill to avert a partial government shutdown
U.S. President Joe Biden delivers the State of the Union address to a joint session of Congress in the House Chamber of the U.S. Capitol in Washington, U.S., March 7, 2024. Elizabeth Frantz | ReutersPresident Joe Biden on Saturday signed a $460 billion spending bill...
Biden rebutter Sen. Britt blasted for using 20-year-old sex traffic story to attack border policy
Sen. Katie Britt, R-Ala., is seen in the U.S. Capitol during votes on Tuesday, January 9, 2024. Anna Moneymaker | Getty ImagesRepublican Sen. Katie Britt of Alabama is under fire for using what appears to be a sex trafficking victim's experience from the early 2000s...
Aid ship for Gaza expected to depart Cyprus this weekend
US Central Command and the Royal Jordanian Air Force conduct a combined humanitarian assistance airdrop to Northern Gaza to provide essential relief to civilians affected by the ongoing Israeli attacks on March 7, 2024 in Northern Gaza. U.S. Central Command | Anadolu...
Trump must pay legal fees for Steele Dossier lawsuit
Republican presidential candidate and former U.S. President Donald Trump attends a Nevada caucus night party at Treasure Island Resort & Casino in Las Vegas, Nevada, U.S. February 8, 2024. David Swanson | ReutersA British judge ordered former President Donald...
Israeli settlements expand by record amount, UN rights chief says
A Palestinian neighborhood is seen from the window of a building inside an Israeli settlement in the city of Hebron on January 18, 2017 in Hebron, West Bank.Chris McGrath | Getty ImagesIsraeli settlements in the occupied Palestinian territories have expanded by a...
After speech, Biden launches major tour plus $30 million ad buy
US President Joe Biden speaks at a campaign event in Philadelphia, Pennsylvania, on March 8, 2024.Jim Watson | AFP | Getty ImagesPresident Joe Biden visited Pennsylvania on Friday to kick off a tour of battleground states and his reelection team will spend $30 million...
Turkey, US discuss Ukraine, Gaza, improving ties: foreign minister
Turkish Foreign Minister Hakan Fidan (R) meets with United States Secretary of State Antony Blinken (L) in Ankara, Turkiye on November 06, 2023.Adem Altan | AFP | Getty ImagesTurkish and U.S. officials held comprehensive talks about the wars in Ukraine and Gaza and...
Former president of Honduras convicted in U.S. of aiding drug traffickers
Former Honduras President Juan Orlando Hernandez testifies during his trial on U.S. drug trafficking charges in federal court in the Manhattan borough of New York City, U.S., March 6, 2024 in this courtroom sketch. Jane Rosenberg | ReutersFormer Honduran President...
Trump wants Elon Musk to speak at Republican convention
Former President Donald Trump and his allies on the Republican National Committee want to convince Tesla and SpaceX CEO Elon Musk to speak at the GOP convention in July, people familiar with the matter told CNBC.Republican leaders believe that giving Musk a speaking...
French central bank chief, BFSI News, ET BFSI
The European Central Bank will "very likely" cut interest rates in the spring, an ECB governing council member said Friday, fuelling market hopes that the move could take place by June.The comments by French central bank governor Francois Villeroy de Galhau came a day...
Trump loses bid to delay $83.3 million E. Jean Carroll judgment
Republican presidential candidate and former U.S. President Donald Trump speaks during a campaign event at Greensboro Coliseum on March 2, 2024 in Greensboro, North Carolina. Alex Wong | Getty Images News | Getty ImagesA New York judge on Thursday rejected a bid by...
House committee unanimously supports forcing TikTok divestiture
Picture Alliance | Getty ImagesA bipartisan panel of lawmakers unanimously approved a controversial bill on Thursday that could lead to TikTok being blocked in the U.S. if it doesn't break with Chinese parent ByteDance.If the bill becomes law, TikTok would have a...
Hike tariffs on Chinese EVs, Senate Democrats urge Biden administration
Three Senate Democrats from auto manufacturing states on Thursday urged the Biden administration to hike import tariffs on Chinese electric vehicles to address national security risks, the latest push by lawmakers to protect the U.S. auto sector.Nathan Howard | Getty...
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. Another oneStocks notched a strong day ahead of Friday's jobs report. The S&P 500 notched a record close on Thursday, while the Nasdaq Composite hit a fresh high during the...
Trump posts $91.6 million bond, appeals E. Jean Carroll verdict
Former U.S. President Donald Trump speaks during a press conference after attending the E. Jean Carroll second civil trial, who accused him of raping her decades ago, New York City, U.S., January 17, 2024. Shannon Stapleton | ReutersFormer President Donald Trump on...
India says its citizens were ‘duped’ to serve in the Russian army. Now it wants them back
Ukrainian soldiers drive a tank during a military training at an undetermined location.Anadolu | Anadolu | Getty ImagesIndia is seeking the release of its nationals who have been "duped" into serving in the Russian army, a spokesperson for the Indian Ministry of...
Ray Dalio at Eras Tour, says Taylor Swift should be president
Combination showing Taylor Swift (L) and Ray Dalio.Getty Images (L) | CNBC (R)Hedge fund billionaire Ray Dalio attended Taylor Swift's Eras Tour in Singapore, and posted a selfie from the packed venue along with a caption explaining why he thought the megastar should...
Biden and Netanyahu on a collision course?
US President Joe Biden (L) and Prime Minister Benjamin Netanyahu (R) meet in Tel Aviv, Israel on October 18, 2023. (Photo by GPO/ Handout/Anadolu via Getty Images)GPO | Anadolu Agency | Getty ImagesVisible tensions are appearing in the historically close relationship...
Gaza aid corridor from Cyprus could start this weekend, says EU president
President of the European Commission Ursula von der Leyen is speaking during a joint media conference with Prime Minister of Belgium Alexander De Croo, Italian Prime Minister Giorgia Meloni, Prime Minister of Canada Justin Trudeau, and President of Ukraine Volodymyr...
Hong Kong’s National Security draft has life imprisonment for ‘treason’
The flag of Hong Kong flies from a ferry boat on July 2, 1997, a day after the former British colony returned to Chinese rule.Romeo Gacad | AFP | Getty ImagesHong Kong on Friday unveiled a new draft security bill proposing up to life imprisonment for offences such as...
Kari Lake woos D.C. lobbyists as Arizona Senate race heats up
Arizona Republican Senate Candidate Kari Lake speaks with reporters after leaving the office of Senate Minority Leader Mitch McConnell (R-KY) on Capitol Hill on March, 6 2024 in Washington, DC. Kent Nishimura | Getty ImagesArizona Republican Senate candidate Kari Lake...
Sebi bars JM Fin from managing fresh debt public issues, ET BFSI
Mumbai: The Securities and Exchange Board of India (Sebi) Thursday barred JM Financial from taking new mandates as a merchant banker for debt public issues due to alleged rule violations. The latest curbs follow those ordered this week by the banking regulator, which...
Biden electrifies Democrats, spars with Republicans in fiery State of the Union address
A spirited President Joe Biden delivered a fiery, partisan State of the Union address on Thursday, fit for an election year with enormously high stakes in a divided nation. "Not since President Lincoln and the Civil War have freedom and democracy been under assault...
Former British PM Theresa May to stand down at next election
Prime Minister Theresa May returns to Downing Street on March 18, 2019 in London, England.Leon Neal | Getty ImagesFormer British Prime Minister Theresa May will not stand for re-election to parliament, she said on Friday, becoming the latest member of the governing...
Latest news on Russia and the war in Ukraine
In his State of the Union speech, U.S. President Joe Biden vowed not to send American troops to Ukraine, saying that with U.S. military and financial support, Kyiv can defeat Moscow on its own. He once again implored members of Congress to support a new aid package...
RBI signs pact with Bank Indonesia, BFSI News, ET BFSI
RBI and Bank Indonesia signed an MoU to promote the use of local currencies, Indian rupee and Indonesian rupiah, optimizing costs, settlement time, bilateral cooperation, developing an INR-IDR foreign exchange market, and establishing a framework for cross-border...
Corporate taxes, consumer costs top economic agenda for Biden State of the Union
US President Joe Biden delivers the State of the Union address in the House Chamber of the US Capitol in Washington, DC, on March 7, 2024. Pool | Getty Images News | Getty ImagesPresident Joe Biden laid out plans to further reshape the tax system and promised to lower...
RBI asks banks to check end use of card payments, BFSI News, ET BFSI
MUMBAI: RBI has asked credit card issuers to set up a system that can ascertain the end use of funds to keep a check on fintechs that attempt to stretch regulatory boundaries. Banks typically pay merchants directly, while aggregators widen the scope by collecting...
Ukraine’s female soldiers are battling against Russians and sexism
Female members of the Ukrainian Army's 128th Carpathian Mountain Assault Brigade train in different combat scenarios as they prepare to join the frontline in Zaporizhzhia, Ukraine on July 15, 2023. Anadolu | Anadolu | Getty ImagesWar, the military, combat, the...
In June, July, RBI could consider the first cut in interest rates: Keki Mistry, ET BFSI
Keki Mistry, Non-executive Director, HDFC Bank, says “I continue to hold the view that if RBI believes that the monsoon forecast is reasonable, that we are not going to see any abnormal monsoon and therefore not any sharp increase in food prices, somewhere in June,...
Biden campaign blasts Trump MAGA Pac over ad about survivability
A still frame from SuperPac Make America Great Again Inc.Source: Make America Great Again Inc.The campaign of President Joe Biden on Thursday condemned a new ad from a Donald Trump-aligned political action committee that suggests the president might die if he is...
Sweden formally joins NATO military alliance, ending centuries of neutrality
A JAS 39 Gripen C/D fighter aircraft takes off from Lulea-Kallax Airport, Sweden on March 4, 2024 during the NATO Nordic Response 24 military exercise, a Norwegian national exercise carried out in northern Sweden, Norway and Finland with associated airspace and...
RBI Guv Shaktikanta Das sees India growing close to 8% in FY24, ET BFSI
Mumbai: India's pace of economic expansion in FY24 could be close to 8%, likely topping earlier official estimates, said central bank governor Shaktikanta Das. Pointing to the latest high-frequency indicators of growth, Das said, "Now that we have numbers for three...
RBI, Sebi roil stock market with new crackdowns on IPO financing, gold, ET BFSI
It’s been another heart-stopping week for financial firms caught up in India’s widening crackdown on the sector.Regulators are imposing new restrictions that may curb lending and put a damper on the booming market for initial public offerings, in order to keep risks...
Need more faith on inflation to cut rates, BFSI News, ET BFSI
Federal Reserve chair Jerome Powell reiterated to lawmakers that the US central bank is in no rush to cut interest rates until policymakers are convinced they have won their battle over inflation.In prepared testimony to a House panel on Wednesday, the Fed chief said...
Governor Shaktikanta Das, ET BFSI
The Reserve Bank of India is not against any fintechs, RBI Governor Shaktikanta Das told ET Now in an interview on March 6. The RBI only wants fintechs to grow, Das averred. The banking regulator's recent actions are not directed against any fintech but against a...
Ex-Google software engineer charged with stealing AI technology while working with Chinese companies
AI Font 3D in digital cyber space, AI Chatbot and Generative AI technology, Futuristic abstract background for Business Science and technology.Mr.cole_photographer | Moment | Getty ImagesA former software engineer at Google has been charged with stealing artificial...
RBI’s action not against Paytm; it is against payment bank; we support fintechs: Shaktikanta Das, ET BFSI
Shaktikanta Das, Governor, RBI, says in the Paytm case, Reserve Bank's action is against a regulated entity. In this case, the regulated entity is a payment bank. RBI’s action is not against any fintech company. I do not see any reason why a narrative is building up...
RBI, Bank of Indonesia sign MoU promoting use of local currencies for trade, ET BFSI
The Reserve Bank of India and the Bank of Indonesia on Thursday signed a Memorandum of Understanding establishing a framework to promote the use of local currencies for cross-border transactions.“The MoU covers all current account transactions, permissible capital...
SpaceX Starlink terminals trafficked by New Jersey man: police
The Lawrence Township Police Department recovered 223 of 675 SpaceX Starlink Terminals allegedly purchased using stolen credit card numbers, the department said Tuesday.Source: Lawrence Township Police DepartmentA New Jersey man was arrested on charges for allegedly...
RBI is more proactive, acting ahead of time; we have to be in step with regulation: Shanti Ekambaram, ET BFSI
Shanti Ekambaram, Dy MD, Kotak Mahindra Bank, says for me, financial independence, financial literacy, financial planning, and actually being involved in the nuances of financial life or ecosystem is very important and that is the message I want to give all women. I...
Three dead in first fatal Houthi attack in the Red Sea
TV broadcast speech of Yemen's Houthi Spokesperson Yahya Sare'e, on March 4, 2024, in Sana'a, Yemen. Mohammed Hamoud | Getty Images News | Getty ImagesThree people were killed in a Houthi attack against a civilian merchant ship, U.S. authorities said, marking the...
Delhi HC reserves order on Bloomberg plea challenging Saket court order directing take down of article against Zee, ET BFSI
New Delhi [India], March 7 (ANI): The Delhi High Court on Thursday reserved the order on plea moved by Bloomberg Television Production Services India Private Limited challenging the order of the Saket district court directing it to take down an article titled "India...
Spain halts Worldcoin crypto project over privacy concerns, BFSI News, ET BFSI
The Spanish government's data protection agency (AEPD) on Wednesday ordered cryptocurrency project Worldcoin to suspend its activities in the country.The suspension order applies to signing up new users and processing information the foundation already has. The agency...
Latest news on Russia and the war in Ukraine
Ukraine to conduct counteroffensive actions against Russia this year, top commander saysUkrainian soldiers of 32nd brigade are seen along the frontline in their fighting position during the ongoing two-year war between Russia and Ukraine in the direction of Kupyansk,...
Greater amount of realism in cryptocurrency market, says RBI Governor, ET BFSI
In a recent interview with ETNow, the Reserve Bank of India (RBI) Governor Shaktikanta Das shed light on the evolving landscape of cryptocurrency and the progress of the central bank's digital currency initiative.Das reiterated the RBI's stance on cryptocurrency,...
Dean Phillips drops out of 2024 presidential race
Rep. Dean Phillips, D-Minn., has dropped out of the 2024 presidential race and endorsed President Joe Biden."Americans were demanding an alternative, and democracy demands options. But it is clear that alternative is not me," Phillips wrote on social media platform X...
In June, July, RBI could consider the first cut in interest rates: Keki Mistry, ET BFSI
Keki Mistry, Non-executive Director, HDFC Bank, says “I continue to hold the view that if RBI believes that the monsoon forecast is reasonable, that we are not going to see any abnormal monsoon and therefore not any sharp increase in food prices, somewhere in June,...
SC assures listing of ADR’s contempt plea against SBI, after bank’s ‘mala fide’ extension request, ET BFSI
The Supreme Court on Thursday assured the listing of ADR's contempt plea against the State Bank of India (SBI) in the electoral bonds case on March 11, 2024.In its plea, the ADR said that the application is "mala fide" and demonstrates a wilful and deliberate...
Lawmakers, stakeholders coalition against de minimis import loophole
WASHINGTON — Labor unions, domestic manufacturers, business associations and other interest organizations on Wednesday announced a bipartisan coalition to target an import loophole allowing billions of un-taxed goods into the U.S."The coalition we have assembled is a...
Supreme Court will hear Trump presidential immunity argument April 25
Republican presidential candidate and former President Donald Trump speaks in the library at Mar-a-Lago in Palm Beach, Florida, on March 4, 2024.Alon Skuy | Getty ImagesThe Supreme Court will hear oral arguments on April 25 on whether former President Donald Trump is...
Trump legal bills could get Republican National Committee support
A growing number of Republican National Committee members believe its campaign arm should help pay mounting legal bills for former President Donald Trump, a move that could strain the party's ability to financially support other candidates in the 2024 election.RNC...
Senate GOP boss Mitch McConnell endorses Trump for president
President Donald Trump shakes hands with Senator Mitch McConnell (R-KY) at a Keep America Great Rally at the Rupp Arena in Lexington, Kentucky, November 4, 2019.Yuri Gripas | ReutersSenate Minority Leader Mitch McConnell endorsed Donald Trump for president Wednesday,...
Tesla CEO Elon Musk says he’s not donating money to Trump or Biden
Elon Musk, chief executive officer of Tesla, at the Viva Tech fair in Paris, France, on Friday, June 16, 2023.Nathan Laine | Bloomberg | Getty ImagesTesla CEO Elon Musk said Wednesday he will not donate to the campaigns of either President Joe Biden or former...
Ship damaged offshore Yemen, days after Houthi-struck vessel sank
Aerial view of a tanker.Bugto | Moment | Getty ImagesA merchant vessel was hit and took damage offshore of Yemen, the U.K. Maritime Trade Operations said Wednesday, days after a ship struck by Iran-backed Houthis sank in the Red Sea.The UKMTO said that the incident...
RBI asks OMCs to pay for some oil imports in Rupees next FY, ET BFSI
The Reserve Bank of India has asked the country’s major state-owned refiners to press Persian Gulf suppliers to accept at least 10% of oil payments in rupees in the next financial year, three executives at the processors said.The move is aimed at promoting the Indian...
Sen. Bob Menendez faces new obstruction of justice charges
Sen. Bob Menendez, D-N.J., is seen after the senate luncheons in the U.S. Capitol on Tuesday, January 23, 2024. Tom Williams | CQ-Roll Call, Inc. | Getty ImagesNew obstruction of justice crimes were added Tuesday to charges against Sen. Bob Menendez and his wife that...
RBI says banks have to offer customers a choice of credit card network, ET BFSI
The Reserve Bank of India (RBI) has directed banks and credit card companies like American Express, Diners Club, MasterCard, Rupay, and Visa not to enter into any exclusive agreement to issue credit cards.In a notification the central bank has directed banks to...
30 banks join RBI UDGAM portal for unclaimed deposits, BFSI News, ET BFSI
The Reserve Bank on Tuesday said 30 banks are facilitating people to search their unclaimed deposits/accounts through UDGAM portal, and the remaining banks are in the process of getting on-boarded. UDGAM -- Unclaimed Deposits-Gateway to Access inforMation -- is an...
Trump groups had little money left as they tried to influence elections
Republican presidential candidate and former U.S. President Donald Trump speaks during a campaign rally at Winthrop Coliseum ahead of the South Carolina Republican presidential primary, in Rock Hill, South Carolina, U.S., February 23, 2024. Shannon Stapleton |...
RBI’s punitive actions will keep NBFCs on the edge, BFSI News, ET BFSI
New Delhi: In continuation with its system clean-up mission, the RBI imposed an embargo on IIFL's gold loan business on March 4 and on JM Financial Products' (subsidiary of JM Financial) loan against shares & IPO financing business the next day, citing persistent...
Elon Musk reportedly met with Donald Trump in Florida
Tesla CEO Elon Musk met with former President Donald Trump on Sunday in Palm Beach, Florida, along with unnamed wealthy Republican donors, the New York Times reported, citing three people briefed on the meeting.Trump is courting donors as he gears up for a general...
Jefferies downgrades IIFL Finance after RBI action; stock tanks 36% in two sessions, ET BFSI
Shares of IIFL Finance tanked 20% on Wednesday to fresh 52-week low of Rs 382.20 on the NSE following a downgrade by global brokjerage Jefferies. The US brokerage has slashed its target price to Rs 435 from an earlier target of Rs 765 while recommending a ‘hold’...
Fed’s Powell to set election year stage with testimony on rate cuts, inflation, ET BFSI
WASHINGTON - With asset values from stocks to crypto to homes piling higher, inflation still considered too high, and worries of "exuberance" creeping into the conversation, Federal Reserve Chair Jerome Powell on Wednesday will update U.S. lawmakers on the economy and...
Latest news on Russia and the war in Ukraine
Putin's spy chief scolds Macron for extremely dangerous remark on UkraineRussian President Vladimir Putin's foreign intelligence chief has said French President Emmanuel Macron's refusal to rule out sending European troops to fight Russian soldiers in Ukraine was...
RBI issues directions to card networks for issuance of credit card to customers, ET BFSI
The Reserve Bank of India (RBI) has issued directives aimed at ensuring greater choice and flexibility for customers in the issuance of credit cards by card networks.According to the RBI, authorized card networks collaborate with banks and non-bank entities for the...
U.S. lawmakers push for ByteDance to divest TikTok or face ban
A bipartisan group of U.S. lawmakers introduced legislation on Tuesday to give China's ByteDance about six months to divest popular short video app TikTok or face a U.S. ban, seeking to tackle national security concerns about its Chinese ownership.Sopa Images |...
Nearly 8 out of 10 digital payments are now done through UPI, claims RBI, ET BFSI
The Unified Payment Interface (UPI) has achieved a new milestone in the digital payment space. While speaking at the Reserve Bank of India’s (RBI) Digital Payments Awareness Week programme at its headquarters in Mumbai, the central bank’s Governor Shaktikanta Das...
Live updates on primary election
Colorado could be one of Haley's rare chances to pick up delegatesPresidential candidate Nikki Haley addresses a crowd during a campaign stop at Wings Over the Rockies Exploration of Flight Museum in Centennial, Colorado on February 27, 2024. Helen H. Richardson |...
Trump’s best option to get $540 million for legal penalties could be ‘clean’ property, private lenders
Republican presidential candidate, former U.S. President Donald Trump speaks during a Fox News town hall at the Greenville Convention Center on February 20, 2024 in Greenville, South Carolina. Justin Sullivan | Getty ImagesDonald Trump is racing to stave off a pair of...
Biden to launch joint FTC-DOJ task force to crack down on ‘unfair and illegal pricing’
Federal Trade Commission Chair Lina Khan testifies before a House Judiciary Committee hearing on Oversight of the Federal Trade Commission, on Capitol Hill in Washington, D.C., July 13, 2023.Kevin Wurm | ReutersPresident Joe Biden on Tuesday will launch a new task...
South Korea authorities discuss prospects for allowing spot bitcoin ETFs, ET BFSI
SEOUL - South Korean authorities are discussing whether to allow sales of spot bitcoin exchange-traded funds (ETFs) in the country, the financial watchdog chief said on Tuesday. "Among authorities, I am one of those who are positive about virtual assets, while there...
RBI clears ‘interoperable’ net banking payments, BFSI News, ET BFSI
MUMBAI: RBI governor Shaktikanta Das said the central bank has approved a platform that will facilitate online merchants to receive payments from any bank via internet banking, without signing up for every bank.Bharat Bill Payment System, an arm of the National...
Nearly 8 out of 10 digital payments are now done through UPI, claims RBI, ET BFSI
The Unified Payment Interface (UPI) has achieved a new milestone in the digital payment space. While speaking at the Reserve Bank of India’s (RBI) Digital Payments Awareness Week programme at its headquarters in Mumbai, the central bank’s Governor Shaktikanta Das...
Amid calls for 5-day week in banks, IBA invites employee unions for wage settlement signing, ET BFSI
The Indian Banks Association or IBA has invited bank unions to sign the wage revision settlement at Chennai on 11th March, 2024. CH Venkatachalam, the general secretary of AIBEA of All India Bank Employees' Association has informed this through a post on social...
Latest news on Russia and the war in Ukraine
Ukraine's military says it has attacked Russian ship off CrimeaSix years on from the day Russian President Vladimir Putin signed a treaty of accession to absorb Crimea in the Russian Federation on March 18, 2020 in Sevastopol, Ukraine. Pierre Crom | Getty Images News...
RBI clears ‘interoperable’ net banking payments, BFSI News, ET BFSI
MUMBAI: RBI governor Shaktikanta Das said the central bank has approved a platform that will facilitate online merchants to receive payments from any bank via internet banking, without signing up for every bank.Bharat Bill Payment System, an arm of the National...
SBI asks SC for more time to furnish electoral bonds data to poll panel, ET BFSI
NEW DELHI: The State Bank of India (SBI) on Monday requested the Supreme Court to extend the deadline till June 30 to give electoral bonds information to Election Commission.In a landmark judgement on February 15, the SC had annulled the electoral bonds scheme for...
Biden may be losing his favorability advantage over Trump, new polls suggest
A flurry of new 2024 presidential election polls have a common thread: Republican frontrunner Donald Trump is leading incumbent President Joe Biden in a hypothetical November matchup.In four separate surveys released over the weekend by The New York Times/Siena...
Supreme Court put Trump back on Colorado primary ballot
Former US President and 2024 presidential hopeful Donald Trump speaks at a "Get Out the Vote" Rally in Conway, South Carolina, on February 10, 2024. Julia Nikhinson | Afp | Getty ImagesThe Supreme Court on Monday unanimously reversed the Colorado court ruling that...
NFRA chairman Ajay Bhushan Pandey, ET BFSI
The annual inspections of major audit firms planned by the National Financial Reporting Authority (NFRA) will help bolster compliance with auditing standards and protect the interests of investors and shareholders, said its chairman Ajay Bhushan Pandey. In an...
Ex-Trump Org CFO Allen Weisselberg to plead guilty to perjury
Former CFO Allen Weisselberg leaves the courtroom for a lunch recess during a trial at the New York Supreme Court on November 17, 2022 in New York City.Michael M. Santiago | Getty ImagesFormer Trump Organization chief financial officer Allen Weisselberg is expected to...
Delhi govt presents FY25 budget with Rs 76,000 crore outlay; to give Rs 1,000 per month to every woman, ET BFSI
New Delhi: Delhi's finance minister Atishi presented the FY25 budget in the state assembly on Monday with an outlay of Rs 76,000 crore, announcing the 'Mukhyamamantri Mahila Samman Yojana' under which women aged 18 and above will get Rs 1,000 per month, and asserted...
Congress unveils first six budget bills to avert government shutdown
Senate Majority Leader Charles Schumer, D-N.Y., left, and Speaker of the House Mike Johnson, R-La., attend a Menorah lighting to celebrate the eight-day festival of Hanukkah, in the U.S. Capitol on Tuesday, December 12, 2023.Tom Williams | Cq-roll Call, Inc. | Getty...
RBI likely to take delivery of maturing $5 bn FX swap next week: Bankers, ET BFSI
MUMBAI - The Indian central bank is likely to take delivery of a $5 billion forex swap maturing next week in the wake of adequate dollar inflows and rupee liquidity staying on the tighter side, a source and four bankers said on Monday.The Reserve Bank of India...
Advisory to mutual funds likely to restrain performance of broader market, says analyst, ET BFSI
New Delhi: The massive 350-point rally in the Nifty on Friday was primarily driven by the far better-than-expected Q3 GDP numbers which came at 8.4 per cent year on year, says V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. This hot number...
Vice President Harris calls for cease-fire in Gaza during speech at Bloody Sunday anniversary
U.S. Vice President Kamala Harris, front center, other participants walk over the Edmund Pettus Bridge during an event marking the 57th anniversary of the 1965 Bloody Sunday civil rights march in Selma, Alabama, U.S., on Sunday, March 6, 2022.Andi Rice | Bloomberg |...
CM Yogi launches ‘MYUVA Scheme’ to empower youth entrepreneurs in Uttar Pradesh, ET BFSI
LUCKNOW: Chief Minister Yogi Adityanath is poised to launch the "Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUVA)" scheme in Uttar Pradesh, aimed at nurturing entrepreneurship among the state's youth. This ambitious initiative reflects the government's commitment to...
Every woman to get Rs 1,000/month for study, or for watching movies, says Atishi, ET BFSI
Delhi Budget 2024 highlights: Delhi Finance Minster Atishi today presented the budget for the financial year 2024-25, centered around the concept of "Ram Rajya." Delhi government is trying to realise the dream of Ram Rajya, Finance minister Atishi said in her maiden...
Kamala Harris urges Hamas to agree to an immediate ceasefire, pushes Israel on aid to Gaza
U.S. Vice President Kamala Harris called for an "immediate ceasefire" in Gaza in her remarks on March 3, 2024, but reiterated that Israel has "a right to defend itself."Elijah Nouvelage | Getty Images News | Getty ImagesU.S. Vice President Kamala Harris on Sunday...
U.S. funding bill blocks China from buying oil from Strategic Petroleum Reserve
A measure in the U.S. funding legislation unveiled by congressional leaders on Sunday would block China from buying oil from the Strategic Petroleum Reserve, or SPR. The desire for a hard line on China is one of the few truly bipartisan sentiments in the deeply...
MoS IT Rajeev Chandrasekhar, ET BFSI
Minister of State for Electronics and Information Technology Rajeev Chandrasekhar said on Monday that the government's advisory on large language models will not apply to startups and only to "significant platforms" . He was reacting to an Economic Times story...
Latest news on Russia and the war in Ukraine
Window to support Ukraine 'slowly closing,' British lawmaker and defense expert saysThe window of opportunity to help Ukraine is "slowly closing", a British lawmaker and former chair of the country's parliamentary defense committee said Monday as he commented on the...
Meet the women fighting for democracy
Yulia Navalnaya, wife of late Russian opposition leader Alexei Navalny, attends the Munich Security Conference (MSC), on the day it was announced that Alexei Navalny died by the prison service of the Yamalo-Nenets region where he had been serving his sentence, in...
New Zealand central bank to implement cyber reporting rules through 2024, ET BFSI
FILE PHOTO: Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr is pictured during an interview at the bank in Wellington, New Zealand, April 16, 2019. REUTERS/Charlotte Greenfield/File PhotoNew Zealand's central bank on Monday said banks must report major cyber...
‘Congress needs to get a spine’
U.S. Homeland Security Secretary Alejandro Mayorkas, flanked by U.S. President Joe Biden, speaks during the President's visit to the U.S.-Mexico border in Brownsville, Texas, U.S., February 29, 2024. Kevin Lamarque | ReutersHomeland Security Secretary Alejandro...
Nikki Haley says she will continue to fight ahead of Super Tuesday
Republican presidential candidate and former U.S. Ambassador to the United Nations Nikki Haley reacts while speaking about her husband, Maj. Michael Haley, who is currently deployed with the South Carolina National Guard, during a campaign stop at the Clemson...
Trump wins the Missouri caucuses. Republicans in Michigan and Idaho are weighing in on the 2024 race
Republican presidential candidate and former President Donald Trump thanks supporters after speaking at a Get Out The Vote rally at Winthrop University on February 23, 2024 in Rock Hill, South Carolina.Win Mcnamee | Getty ImagesDonald Trump won Missouri's Republican...
Delhi court orders Bloomberg to take down ‘defamatory’ article against Zee, ET BFSI
Zee logoThe Delhi Sessions Court on Friday ordered Bloomberg Television Production Services India to remove an article published on Zee Entertainment Enterprises on February 21st after Zee argued that the article was "false and factually incorrect, with a premeditated...
Sebi bars Brick Eagle for violations, BFSI News, ET BFSI
Market regulator Securities and Exchange Board of India (Sebi) has barred fund manager Brick Eagle LLP for a period of one year after finding it guilty of compliance violations, as per an order uploaded on the regulator's website.It has also taken action against...
Shah launches NUCFDC, sets target to establish one urban cooperative bank in each town, ET BFSI
New Delhi: Cooperation Minister Amit Shah on Saturday launched the National Urban Cooperative Finance and Development Corporation (NUCFDC) and asked the umbrella body to set up one urban cooperative bank in each town. NUCFDC has received the RBI approval to function...
97.62 pc of Rs 2000 banknotes returned to banking system: RBI, ET BFSI
Mumbai, The Reserve Bank of India (RBI) said on Friday that nearly 97.62 per cent of the Rs 2000 banknotes in circulation have been returned to the banking system. According to RBI, the total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore on...
India’s foreign exchange reserves rose by USD 2.98 billion, shows latest RBI data, ET BFSI
India's foreign exchange reserves rose by USD 2.975 billion to USD 619.072 billion in the week that ended on February 23, as per the latest data released by the Reserve Bank of India (RBI). Prior to the February 23 week, the foreign exchange reserves were at USD...
Strong Q3 growth may push likely rate cuts to October, ET BFSI
The stronger-than-expected real GDP growth print for the third quarter ended December may prompt the Reserve Bank of India (RBI) to continue the status quo on policy rate for a longer time than what was being projected earlier.A gross domestic product (GDP) growth of...
Sen. Bob Menendez co-defendant pleads guilty in bribery case
Jose Uribe leaves the Federal Court, after a hearing on bribery charges, in New York City, U.S. September 27, 2023. Brendan McDermid | ReutersA co-defendant in the criminal corruption case against Sen. Bob Menendez pleaded guilty in New York federal court on Friday...
Trump lawyers want classified documents trial after election
A vehicle carrying former U.S. President Donald Trump is driven to the Alto Lee Adams Sr. U.S. Courthouse on March 01, 2024 in Fort Pierce, Florida. Joe Raedle | Getty ImagesLawyers for former President Donald Trump on Friday urged a Florida federal court judge to...
Biden faces anger from key Arab-American voters in Michigan primary
A man explains the importance of voting 'uncommited' as he hands out fliers outside the Islamic Center of Detroit to ask voters to vote 'uncommitted' in Michigan Primary elections on Tuesday, in Michigan, United States on February 26, 2024. Mostafa Bassim | Anadolu |...
low turnout and boycott expected
Iranian women cast their ballots at a polling station during elections to select members of parliament and a key clerical body, in Tehran on March 1, 2024.ATTA KENARE | AFPIran holds its parliamentary elections on Friday, in the first vote for Iranians since a...
Navalny’s funeral in pictures: Mourners gather in Moscow
Crowds gathered in Moscow on Friday to observe Alexei Navalny's funeral, with allies of the deceased Russian opposition politician saying over 1,000 people had congregated.CNBC could not independently verify the number.Remains of snow clutched to the streets in a grey...
House GOP ‘poison pills’ may force spending cuts, rattle economy
U.S. Speaker of the House Mike Johnson (R-LA) speak following a briefing with National Security Advisor Jake Sullivan at the U.S. Capitol on February 15, 2024 in Washington, DC.Kevin Dietsch | Getty ImagesHouse Republican hardliners' efforts to stonewall a budget deal...
RBI’s new rule on exchange-traded rupee derivatives confuses brokers, ET BFSI
MUMBAI - India's central bank requiring underlying foreign exchange exposure for exchange-traded rupee derivative transactions has confused brokers and left them worried about the potential impact on activity in this growing segment.The Reserve Bank of India (RBI) in...
India central bank says more than 97% of 2,000-rupee notes returned since May, ET BFSI
More than 97% of India's highest-denomination 2,000-rupee currency notes have been returned since they were withdrawn from circulation in May 2023, the Reserve Bank of India (RBI) said on Friday.The total value of 2,000-rupee notes in circulation fell to 84.70 billion...
Harvard Business School grad allegedly swindled alums with Ponzi scheme
A general view of the Baker Library/Bloomberg Center on February 17, 2024, at Harvard Business School in Allston, MA. Erica Denhoff | Icon Sportswire | Icon Sportswire | Getty ImagesA Harvard Business School graduate tricked his fellow alumni and associates into...
These 10 smallcap MFs look more vulnerable to risk from Sebi’s directive, ET BFSI
Around 10 smallcap schemes with larger assets under management (AUM) could be affected after Sebi told mutual funds to protect the interest of investors of smallcap and midcap schemes , according to a report by Fisdom Research.These smallcap schemes could be at risk...
Angela Chao death being investigated as criminal matter
Angela A. Chao hosts The New York City Opera Pre-Gala Celebration at a private residence in New York City on Oct. 21, 2010.Patrick McMullan | Getty ImagesThe death earlier this month of Foremost Group CEO Angela Chao, the sister-in-law of Senate Minority Leader Mitch...
RBI approves appointment of ex-Sebi executive director Ravindran as TMB’s part-time chairman, ET BFSI
CHENNAI: The Reserve Bank of India (RBI) has approved the appointment of S Ravindran as the part-time chairman of the Tamilnad Mercantile Bank (TMB).The bank said in a regulatory filing on Friday that RBI approved his appointment with effect from February 29, 2024...
RBI streamlines Bharat Bill Payment System, customers get more protection, ET BFSI
Reserve Bank of India Mumbai: The RBI has put in a revised regulatory framework - Bharat Bill Payment Systems Directions, 2024, which will be applicable to NPCI Bharat Bill Pay Limited (NBBL - a wholly owned subsidiary of National Payments Corporation of India); and...
Latest news on Russia and the war in Ukraine
Workers unload metal fencing in front of a church in Moscow on Feb. 29, 2024, where a funeral ceremony for late Russian opposition leader Alexei Navalny is set to take place on March 1.Olga Maltseva | Afp | Getty ImagesThe funeral of Russian opposition leader Alexei...
Trump Media sued over DWAC merger share dilution
Donald Trump, right, and producer Andy Litinsky, left, attend the Comedy Central Roast of Donald Trump at the Hammerstein Ballroom in New York City on March 9, 2011.Michael Kovac | Wireimage | Getty ImagesFormer President Donald Trump was accused in a lawsuit on...
Finance Minister to NaBFID, ET BFSI
Finance Minister Nirmala Sitharaman on Thursday asked National Bank for Financing Infrastructure and Development (NaBFID) to introduce a structured partial credit enhancement facility towards deepening bond markets and create a data repository for the infrastructure...
Republicans subpoena attorney general for records
U.S. Attorney General Merrick Garland speaks during a meeting of the Reproductive Rights Task Force at the Justice Department in Washington, D.C., on Dec. 4, 2023.Evelyn Hockstein | ReutersHouse Republicans on Tuesday subpoenaed Attorney General Merrick Garland for...
Nikki Haley donors keep giving, despite Donald Trump’s lead
U.S. Republican presidential candidate and former U.S. Ambassador to the United Nations Nikki Haley speaks at a campaign stop in Elgin, South Carolina, U.S., February 12, 2024.Julia Nikhinson | ReutersAs Nikki Haley falls behind Donald Trump in the Republican...
Republicans slam Defense Secretary Austin for hospitalization handling
U.S. Defense Secretary Lloyd Austin testifies before a House Armed Services Committee hearing about his failure to disclose his cancer diagnosis and subsequent hospitalizations, on Capitol Hill in Washington, U.S., February 29, 2024.Evelyn Hockstein |...
Trump wins Michigan Republican primary
Republican presidential candidate former President Donald Trump speaks to supporters during a rally on February 17, 2024 in Waterford, Michigan. Scott Olson | Getty ImagesDonald Trump won the Michigan Republican presidential primary, easily defeating former United...
Judges in Trump-related cases face unprecedented wave of threats
U.S. District Judge Royce Lamberth looks on in his chambers at the E. Barrett Prettyman United States Courthouse in Washington, U.S., February 15, 2024. REvelyn Hockstein | ReutersU.S.District Judge Royce Lamberth has been threatened by angry criminals. Drug cartels....
ED freezes Rs 123-cr of Singapore-based shell firms parked in bank accounts of Mumbai-based NIUM India, ET BFSI
New Delhi [India], February 29 (ANI): The Directorate of Enforcement (ED) has frozen Rs 123 crore, belonging to Singapore-based shell entities, parked in bank accounts of Mumbai-based NIUM Indian Pvt Ltd as part of its probe into a money laundering case of illegal...
Joe Biden won big in Michigan primary, but ‘uncommitted’ votes signal potential trouble
President Joe Biden is walking on the South Lawn of the White House in Washington, D.C., on February 26, 2024.Aaron Schwartz | Nurphoto | Getty ImagesPresident Joe Biden won the Michigan Democratic presidential primary in a landslide, capturing around 80 percent of...
U.S. law on domestic abuse should cover carmakers, FCC chair says
Jessica Rosenworcel, chairwoman of the Federal Communications Commission (FCC), speaks during the US Chamber of Commerce's Global Aerospace Summit in Washington, D.C., Sept 14, 2022.Valerie Plesch | Bloomberg | Getty ImagesThe chairwoman of the Federal Communications...
Will Sebi-AMFI nudge derail the story in the broader market? Aashish Somaiyaa answers, ET BFSI
Aashish Somaiyaa, CEO, White Oak Capital Management, says “as portfolio managers or AMCs any which way, we continuously keep monitoring how many days it would need us to liquidate a particular stock. How many days would it need us to liquidate say 5%, 10%, 15%, 20% of...
China’s Premier Li urges stronger economic, trade ties with U.S.
China's Premier Li Qiang attends a meeting with US Climate Envoy John Kerry at the Great Hall of the People in Beijing on July 18, 2023. Florence Lo | Afp | Getty ImagesChina and the United States should strengthen economic and trade ties and Washington should avoid...
5 key changes to know, ET BFSI
IRDAI draft guidelines: The Insurance Regulatory and Development Authority of India (IRDAI) has proposed a series of recommendations aimed at enhancing operational efficiency, reducing compliance burdens on stakeholders, and ensuring the protection of policyholders'...
Former NY cop charged with fraud in foreign exchange trading fund
U.S. Attorney for the Eastern District of New York Breon Peace attends a news conference on recent enforcement actions against cryptocurrency at the U.S. Justice Department Building in Washington, D.C., on Jan. 18, 2023.Anna Moneymaker | Getty ImagesA former New York...
NHAI gives one-month extension to FASTag users to comply with the KYC norms, ET BFSI
The National Highways Authority of India (NHAI) has extended the ‘One Vehicle, One FASTag’ initiative compliance deadline to March-end, in view of the problems being faced by Paytm FASTag users.This means FASTag users will have another month to comply with...
UK names OECD’s Lombardelli as next BoE deputy governor, ET BFSI
Britain named Clare Lombardelli, a former finance ministry official who is currently chief economist at the Organisation for Economic Co-operation and Development, as the next deputy governor for monetary policy at the Bank of England. Lombardelli will start her new...
Congressional leaders strike partial budget deal
U.S. Senate Majority Leader Chuck Schumer, D-N.Y., and U.S. Speaker of the House Mike Johnson, R-L.a., speak to each other during a Capitol Menorah lighting ceremony at the U.S. Capitol Building in Washington, D.C., on Dec. 12, 2023.Anna Moneymaker | Getty ImagesTop...
MoU signed with Greek bank to facilitate remittances to India using UPI, ET BFSI
NPCI International Payments Limited (NIPL), a subsidiary of National Payments Corporation of India (NPCI), and leading Greek bank Eurobank signed a Memorandum of Understanding (MoU) towards enhancing cross-border payments using the UPI platform. This announcement...
U.S. says to investigate national security data risks from Chinese vehicles
A Baidu Inc. logo is displayed on the company's autonomous car.Qilai Shen | Bloomberg | Getty ImagesThe White House said on Thursday the United States is opening an investigation into whether Chinese vehicle imports pose national security risks and could impose...
RBI’s draft guidelines on climate-related financial risks disclosures, ET BFSI
Q1: What has the Reserve Bank proposed regarding climate-related financial risks?A1: The Reserve Bank has proposed making it mandatory for banks and Non-Banking Financial Companies (NBFCs) to disclose information about their climate-related financial risks on a...
Supreme Court to hear presidential immunity claim
Former U.S. President Donald Trump looks on at a campaign event in Waterford Township, Michigan, on Feb. 17, 2024.Rebecca Cook | ReutersThe Supreme Court on Wednesday agreed to rule on whether former President Donald Trump is immune from criminal charges in his...
FinCEN on ‘full court press’ to spread awareness of new business registry rules
Brian Nelson, US Treasury under secretary for terrorism and financial crimes, during a House Financial Services Committee hearing in Washington, DC, US, on Wednesday, Feb. 14, 2024. The hearing is titled "Oversight of the Financial Crimes Enforcement Network (FinCEN)...
India cenbank releases draft disclosure framework for banks to address climate risks, ET BFSI
MUMBAI - With climate change one of the biggest emerging risks, the Reserve Bank of India (RBI) released a draft standard disclosure framework on climate-related financial risks for regulated entities (REs) on Wednesday. "There is a need for a better, consistent and...
Trump is disqualified from Illinois ballot, judge rules
Republican presidential candidate and former U.S. President Donald Trump speaks during a campaign rally at Winthrop Coliseum ahead of the South Carolina Republican presidential primary in Rock Hill, South Carolina, U.S., February 23, 2024. Shannon Stapleton |...
RBI tweaks norms related to Regulatory Sandbox scheme, BFSI News, ET BFSI
Mumbai, The Reserve Bank on Wednesday tweaked guidelines for Regulatory Sandbox (RS) scheme under which participating entities will have to comply with digital personal data protection norms. Regulatory Sandbox usually refers to live testing of new products or...
Latest news on Russia and the war in Ukraine
Putin prepares to deliver State of the Nation addressRussian President Vladimir Putin delivers his annual address to the Federal Assembly, on April 21, 2021 in Moscow, Russia.Konstantin Zavrazhin | Getty Images News | Getty ImagesRussian President Vladimir Putin is...
Why RBI cancelled licence of Sumerpur Mercantile Urban Cooperative Bank?, ET BFSI
NEW DELHI: The Reserve Bank of India (RBI) has revoked the licence of the Sumerpur Mercantile Urban Cooperative Bank Limited located in Sumerpur, Pali district of Rajasthan. This decision has immediate effects, leading to the cessation of all banking activities by the...
User complaints spiked at Paytm Payments Bank even before RBI action, ET BFSI
Paytm Payments Bank had seen a sharp jump in customer complaints in the last financial year, much before it came under stringent regulatory action, according to the disclosures made by the company.In the fiscal year ended March 31, 2023, Paytm Payments Bank reported...
India and South Africa block major investment deal at WTO talks
Delegates attend the 13th World Trade Organization Ministerial Conference in Abu Dhabi of Feb. 26, 2024. India and South Africa have filed a formal objection against an investment agreement at a World Trade Organization meeting in Abu Dhabi, blocking its adoption in a...
Russia-Ukraine war updates from Feb. 28, 2024
Russia says it may take 'retaliatory measures' as Sweden joins NATORussia on Wednesday said it regrets that Sweden is set to join NATO and pledged to take some retaliatory measures to protect itself."Russia will take retaliatory measures of a political and...
Trump lawyers plan to post $100 million bond in NY fraud appeal
Former US president Donald Trump arrives to the court room following a break at the New York State Supreme Court on the first day of his civil fraud trial, in New York City on October 2, 2023.Ed Jones | AFP | Getty ImagesAttorneys for Donald Trump on Wednesday said...
Mitch McConnell to step down as Republican Senate leader in November
Sen. Mitch McConnell of Kentucky said Wednesday that he will step down as Republican leader in the Senate in November.McConnell, 82, revealed his plans in an address to the Senate, where he currently serves as minority leader.McConnell, who is the longest-serving...
FTX fraudster Sam Bankman-Fried seeks less than 7 years in prison
Sam Bankman-Fried, co-founder of FTX Cryptocurrency Derivatives Exchange, arrives at court in New York, US, on Thursday, Feb. 16, 2023.Stephanie Keith | Bloomberg | Getty ImagesLawyers for Sam Bankman-Fried are asking a judge for a relatively short sentence like "junk...
Biden gets annual physical, with fitness for office an election issue
U.S. President Joe Biden departs the White House in Washington, D.C., for the Walter Reed National Military Medical Center for his routine annual physical on Feb. 28, 2024.Jim Watson | AFP | Getty ImagesPresident Joe Biden arrived at the Walter Reed National Military...
Houthi-damaged ship awaits towing to Saudi amid oil slick
Cargo ship Rubymar, carrying Ukrainian grain, sails at the entrance of Bosphorus, in the Black Sea off the coast off Kumkoy, north of Istanbul, on November 2, 2022.Ozan Kose | AFP | Getty ImagesA vessel impaired in a mid-February Houthi attack offshore Yemen remains...
EU deal on euro clearing ‘light’ on banks but a first step, EU official says, ET BFSI
LONDON - The European Union's deal this month on rules to end the bloc's "over-reliance" on London for clearing derivatives is "light" on big banks, but just a first step if they do not shift enough business, EU financial services chief Mairead McGuinness said on...
Sebi directs mutual funds to protect smallcap investors from market froth, ET BFSI
Leading to a sell-off in small, midcap, and microcap stocks on Wednesday, markets regulator Sebi has told mutual funds (MFs) to frame a policy to protect the interest of investors in small and midcap schemes.In a letter to the Association of Mutual Funds in India...
Feb 29 last date to update FASTag KYC; step-by-step guide on how to update FASTag KYC, ET BFSI
The deadline for updating FASTags KYC is February 29; else, banks will deactivate/blacklist accounts that do not have comprehensive KYC details. The National Highway Authority of India (NHAI) has taken this step in response to recent reports of the issuance of more...
GIFT City taps RBI for RTGS-like dollar payment system, ET BFSI
Officials from the GIFT City have reached out to the Reserve Bank of India (RBI) for consultations in setting up a dollar payment system mechanism that aims to bring about greater efficiency in transactions conducted in the US currency, sources aware of the...
Regulated entities told to file reports with RBI faster, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India (RBI) has shortened the time frame for submitting reports for regulated entities as it attempts to reduce the compliance burden and get information faster.The new guideline says that all commercial banks should submit to the banking...
FM Nirmala Sitharaman tells regulators to meet fintechs, startups every month, ET BFSI
Finance Minister Nirmala Sitharaman has asked regulators to hold monthly meetings with startups and fintech firms to address their issues and concerns while emphasising strict regulatory compliance.Sitharaman met startup and fintech stakeholders on Monday along with...
RBI streamlines process of filing supervisory returns by banks, NBFCs, ET BFSI
The RBI has issued directions for filing of supervisory returns for various supervised entities in order to bring clarity, brevity and harmonization.The move will help reduce the burden of compliance on the regulated entities based on the recommendations of the...
Centre alerts ROCs on suspected multiple Chinese shell firms in city, ET BFSI
Hyderabad: The ministry of corporate affairs has directed Registrar of Companies to scrutinise multiple companies with Chinese directors or investments allegedly operating in the same address. Recent investigations have revealed that multiple Chinese companies are...
Banks warily warm up to Fed repo backstop, BFSI News, ET BFSI
Federal ReserveBanks are finally signing up for a U.S. Federal Reserve funding backstop that has been lying nearly dormant for more than two years, putting them in a stronger position to deal with any stress. But it is unclear whether they will want to use it in a...
Sebi asks small, mid-cap funds to disclose more about risks, ET BFSI
India's market regulator has asked the country's asset managers to give investors more information about the risks associated with their small and mid-cap funds, according to a fund manager and two people with knowledge of the matter.Small and mid-sized funds have...
Bank of England builds ‘proactive case’ to regulate non-banks, ET BFSI
By Huw JonesLONDON, -Regulators need broader oversight of financial firms to prevent a crisis in the vast non-bank sector wreaking havoc on the economy, Britain's central bank said on Monday.The Bank of England was forced to step in and buy UK government bonds in...
Finmin, RBI to look at ownership change in fintech cos for compliance, ET BFSI
NEW DELHI/MUMBAI: The finance ministry and RBI will look at the change of ownership holding or control of listed fintech companies to enable them to be in-sync with regulatory compliance.This was among several key action points that emerged at end of the meeting of...
NCLT approves Hinduja Group’s acquisition for Anil Ambani’s Reliance Capital, ET BFSI
The bankruptcy court in Mumbai allowed an application on Tuesday filed by the administrator of Reliance Capital to approve the Anil Ambani-promoted company’s acquisition by IndusInd International Holdings Ltd through the insolvency resolution process. The division...
RBI’s rate dissenter says officials too focused on inflation, ET BFSI
The only member of the Reserve Bank of India’s policy committee calling for an interest rate cut said his colleagues are keeping rates too high, which could stifle economic growth.Jayanth Varma, an external member on the six-person monetary policy committee, voted for...
Govt to herald next-generation reforms; industry must be a key driver of developed India vision: FM Sitharaman, ET BFSI
Finance minister Nirmala Sitharaman said on Tuesday the Modi government intends to usher in next-generation structural reforms in factors of production--including land, labour, capital and digital public infrastructure--to spur inclusive growth, as she called on...
FM Nirmala Sitharaman tells regulators to meet fintechs, startups every month, ET BFSI
Finance Minister Nirmala Sitharaman has asked regulators to hold monthly meetings with startups and fintech firms to address their issues and concerns while emphasising strict regulatory compliance.Sitharaman met startup and fintech stakeholders on Monday along with...
Sitharaman exhorts RBI to hold monthly meetings with startup, fintech firms, ET BFSI
New Delhi, Finance Minister Nirmala Sitharaman on Monday exhorted the Reserve Bank of India to hold monthly meetings with startup and fintech firms to address their concerns, officials said. At a meeting with top executives of about 50 startup and fintech firms,...
RBI imposes monetary penalty on State Bank of India, Canara Bank, ET BFSI
NEW DELHI: The Reserve Bank of India (RBI) has imposed a monetary penalty on the State Bank of India (SBI) Rs 2 crore under the relevant section of the Banking Regulation Act. According to a statement, this action was taken due to shortcomings in regulatory compliance...
RBI, PhonePe, and PineLabs on the Paytm crisis, BFSI News, ET BFSI
On January 31, India's apex bank Reserve Bank of India (RBI) directed Paytm Payment Bank to stop accepting deposits, credit transactions or top ups in customer accounts, prepaid instruments, wallets, FASTags, and NCMC cards after March 15, other than any interest,...
CVC to govt departments, public sector banks, ET BFSI
New Delhi: The Central Vigilance Commission (CVC) has asked all government departments, public sector banks and insurance companies to ensure that disciplinary cases are brought to a logical conclusion within the prescribed timelines and without any inordinate delay....
RBI’s Financial Literacy Week kicks-off today targeting young adults, students, ET BFSI
The Reserve Bank of India (RBI) is observing the Financial Literacy Week (FLW) this year from February 26 to March 1, 2024. The theme for this year’s RBI FLW is “Make a Right Start – Become Financially Smart” focussing especially towards the young adults and students....
RBI lifting curbs on forex non-deliverable forward arbitrage by banks: Report, ET BFSI
India's central bank is easing restrictions on banks' arbitrage trades between the outright foreign exchange over-the-counter (OTC) and the non-deliverable forward (NDF) markets, four people familiar with the matter said.The Reserve Bank of India (RBI) has allowed...
June 30 is the deadline to appoint nominees for your demat and MF accounts; why you need to get your nominations in order, ET BFSI
Investors are ignoring a crucial aspect of their financial preparedness. A recent Sebi consultation paper revealed that an alarming 9.8 crore (72.5%) out of 13.6 crore demat accounts in single holding are missing nomination details. This single lapse can have dire...
Assam and Uttar Pradesh’s tech-led growth, BFSI News, ET BFSI
The month of January 2024 witnessed an impressive surge in UPI transactions, recording a staggering 12,203.02 million transactions valued at ₹18,41,083.97 crores. This growth is a testament to the journey that began in 2016 when UPI was first introduced by NPCI, with...
Rupee caught between inflows, likely RBI intervention, BFSI News, ET BFSI
By Nimesh VoraMUMBAI, - The Indian rupee is expected to open flat to slightly higher on Monday and is tipped to remain in a narrow range during the week amid dollar inflows and intervention by the central bank.Non-deliverable forwards indicate the rupee will open at...
RBI extends Interest Equalisation Scheme for Export Credit Until June 30, ET BFSI
RBI extends Interest Equalisation Scheme for Export Credit Until June 30The Reserve Bank of India (RBI) has officially extended the Interest Equalisation Scheme for pre- and post-shipment rupee export credit until June 30, maintaining the same scope and coverage,...
Paytm issue may be reviewed, scrutiny on Byju’s progressing well: ICAI, ET BFSI
Amid the unfolding Paytm Payments Bank Ltd crisis, Institute of Chartered Accountants of India President Ranjeet Kumar Agarwal on Sunday said its financial reporting review board (FRRB) may deliberate on issues of the fintech firm in the near future. The FRRB of the...
Because it is all about valuing what you have created and earned, ET BFSI
The recent consultation paper by Securities & Exchange Board of India (SEBI) points out that 70% of the demat accounts with a single holder have opted out of appointing a nominee. This observation from the Sebi has triggered a discussion about the importance of...
Real interest rates above 2% may not be sustainable for economic growth, says MPC’s Bhide, ET BFSI
Durable, high GDP growth requires inflation to be under control but real interest rates above 2% may not be sustainable when it comes to supporting the growth needs of the Indian economy, Shashanka Bhide, a member of the Monetary Policy Committee, said to ET in an...
Finance Minister Sitharaman to meet fintech companies next week, Paytm not invited, ET BFSI
In the backdrop of the ongoing issues with Paytm, Finance Minister Nirmala Sitharaman has planned a meeting with the heads of fintech companies in the coming week. The aim is speculated to be stress on the need to adhere strictly to regulatory compliance.Last month,...
Disconnect between RBI rate corridor and call rate represents ‘serious friction,’ says MPC’s Varma, ET BFSI
When money market rates breach the Reserve Bank of India’s interest rate corridor, as they intermittently have over the past six months, the process of transmitting the central bank’s policy rate changes faces serious impediments, Jayanth Varma, external member of the...
RBI allows banks to issue prepaid wallets for public transport systems, ET BFSI
The Reserve Bank of India has permitted authorised banks and non-banks to issue prepaid payment wallets for usage in public transport systems.In a notification issued today, the central bank amended its norms on issuance of prepaid wallets to allow special wallets to...
RBI shares tips, ET BFSI
The number of frauds in the banking sector has increased significantly in the last few years. To protect customers against scams, the Reserve Bank of India (RBI) has time and again come up with various guidelines and to-do lists. What are things you need to keep in...
Iran reportedly sends hundreds of ballistic missiles to Russia
Iran presents its first hypersonic ballistic missile 'Fattah' (Conqueror) in an event attended by President Ebrahim Raisi and other government officials in Tehran, Iran on June 06, 2023.Sepah News | Anadolu Agency | Getty ImagesIran has sent hundreds of its powerful...
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. Rocketing to records2. To the moonAs the new space race rolls on, Thursday brought another historic moment to the final frontier. Intuitive Machines became the first company to...
Netanyahu’s first post-war plan seeks security buffer in Gaza â in blow to U.S. diplomacy
Israeli Prime Minister Benjamin Netanyahu looks on as the US Secretary of State gives statements to the media inside The Kirya, which houses the Israeli Defence Ministry, after their meeting in Tel Aviv on October 12, 2023. Blinken arrived in a show of solidarity...
What are the additional steps announced by RBI over Paytm Payments Bank?, ET BFSI
What are the additional steps announced by RBI over Paytm Payments Bank?A week after extending the deadline for operations, the Reserve Bank of India (RBI) on Friday has come up with additional ‘necessary’ steps for the Paytm Payments Bank. RBI said it has advised...
RBI takes more actions on Paytm Payments Bank; Check details if you have @Paytm UPI handle, ET BFSI
Given the Paytm Payments Bank will not be able to accept further credits into customer accounts and wallets after March 15, 2024, the Reserve Bank of India on Friday took more steps to ensure seamless digital payments by UPI customers using @paytm handle.These...
RBI shares tips, ET BFSI
The number of frauds in the banking sector has increased significantly in the last few years. To protect customers against scams, the Reserve Bank of India (RBI) has time and again come up with various guidelines and to-do lists. What are things you need to keep in...
Sab changa si? RBI MPC minutes suggest India is in a ‘Goldilocks’ scenario, ET BFSI
With an inflation and growth forecast of 4.5 per cent and 7 per cent each for FY25, India's policymakers are inferring that the economy is in a 'Goldilocks scenario'. However, economists say they must err on the side of caution.The six members of the Reserve Bank of...
Latest news on Russia and the war in Ukraine
Putin says 95% of Russia's nuclear forces have now been modernizedIn this pool photograph distributed by Russian state agency Sputnik, the Tupolev Tu-160M "Ilya Muromets" strategic bomber is seen on the grounds of an aircraft manufacturer in Kazan on February 22,...
Biden creates anti-Trump war chest
US President Biden arrives to board Air Force One at Joint Base Andrews in Maryland on December 20, 2023, as he departs for Milwaukee, Wisconsin.Mandel Ngan | Afp | Getty ImagesPresident Joe Biden's $140 million campaign war chest has been bolstered by a group of...
Premature move on monetary policy front could undermine efforts to check inflation: RBI Governor, ET BFSI
Premature move on monetary policy front could undermine efforts to check inflation: RBI GovernorThe Reserve Bank of India's job to bring down inflation is not over, and any premature move on the policy front could undermine the success achieved so far on the price...
Fed’s Waller sees ‘no rush’ to cut interest rates, BFSI News, ET BFSI
U.S. Federal Reserve policymakers should delay interest rate cuts by at least another couple more months to see if a recent uptick in inflation signals stalling progress toward price stability or is just a bump in the road, Fed Governor Christopher Waller said on...
Russia marks two years of war in Ukraine, looking confident amid gains
A Ukrainian soldier in a shelter at his fighting position in the direction of Bakhmut, Donetsk Oblast, Ukraine, 20 February 2024.Anadolu | Anadolu | Getty ImagesWhen Russia invaded Ukraine two years ago, the stout resistance mounted by the country's armed forces and...
Trump clemency recipient Philip Esformes pleads guilty in Medicare fraud case
Philip Esformes attends the 15th annual Harold & Carole Pump Foundation gala at the Hyatt Regency Century Plaza on August 7, 2015 in Century City, California.Tiffany Rose | Getty ImagesPhilip Esformes on Thursday pleaded guilty to health care fraud, resolving the...
Why RBI took pause over rate, explains RBI Guv; Cautious on inflation, ET BFSI
Why RBI took pause over rate, explains RBI Guv; Cautious on inflationThe Reserve Bank of India (RBI) on Thursday released the minutes of the Monetary Policy Committee (MPC) meeting which was held from February 6 to 8. In the minutes, the central bank highlighted that...
Das says premature move may undermine success; Varma bats for rate cut & stance pivot, ET BFSI
Reserve Bank of India governor Shaktikanta Das in the latest Monetary Policy Committee (MPC) meeting warned against any premature move that would undermine policymakers' success so far while Jayanth Varma highlighted the need to send the signal that the rate-setting...
5 things to know before the stock market opens Thursday, February 22
Here are the most important news items that investors need to start their trading day:1. A magnificent boostThe stock market is welcoming a jolt from Nvidia on Thursday morning. The S&P 500 and Nasdaq are primed to pop after the company reported another strong...
Sebi orders attachment of bank, demat accounts of DHFL’s ex-promoters in disclosure violation case, ET BFSI
Markets regulator Sebi has ordered the attachment of bank accounts as well as shares and mutual fund holdings of Dheeraj Wadhawan and Kapil Wadhawan, the former promoters of Dewan Housing Finance Corp Ltd (DHFL), to recover dues totalling over Rs 22 lakh. This came...
Texas crypto company sues SEC for ‘overreach’ on digital assets, ET BFSI
A Texas cryptocurrency company and an industry group sued the U.S. Securities and Exchange Commission on Wednesday, saying the regulator has overstepped its authority and asking a judge to rule that digital assets traded on exchanges are not securities.Fort...
What are space nukes raising tensions between Moscow and Washington?
In this pool photograph distributed by Russian state agency Sputnik, Russia's President Vladimir Putin talks to students and Chelyabinsk Region industry workers at the Stankomash plant in Chelyabinsk on February 16, 2024.Alexander Ryumin | Afp | Getty ImagesA fresh...
Morgan Stanley sees RBI embarking on a 50 bps shallow rate-cut cycle from June 2024, ET BFSI
Morgan Stanley has projected a shallow rate cut of 50 bps from June 2024 by the Reserve Bank of India even as it forecasts a slowdown in India's GDP growth to 6.5% in FY25."On monetary policy, we build in a shallow rate cut cycle of 50bps from Jun-24, in our base...
FM Urges RBI and Financial Sector to Take Action on Unauthorised Lending Apps, ET BFSI
Finance Minister Nirmala Sitharaman has called upon financial sector regulators, such as the Reserve Bank of India (RBI), to adopt supplementary measures to curb the rise of unauthorized online lending. At the 28th Financial Stability and Development Council (FSDC)...
Latest news on Russia and the war in Ukraine
Biden calls Putin a 'crazy SOB' during San Francisco fundraiserU.S. President Joe Biden stops to talk to journalists about new Russian sanctions as he departs the White House on February 20, 2024 in Washington, DC. Chip Somodevilla | Getty Images News | Getty...
Are banks next in line for big RBI action for flouting KYC norms?, ET BFSI
In a significant move to curb potential fraud within the financial sector, the Reserve Bank of India took action against Paytm, signaling a broader crackdown. Last month, RBI suspended most activities of Paytm's banking affiliate. The suspension was a result of...
Most Fed officials flagged risks of cutting rates too quickly, ET BFSI
Washington: Most Federal Reserve officials last month flagged concerns over moving too quickly to cut interest rates, indicating such risks outweighed keeping borrowing costs elevated for too long.The minutes of the January 30-31 Federal Open Market Committee meeting...
Trump faces obstacles to securing an appeal bond in fraud case
Former U.S. President Donald Trump gestures on the day of a court hearing on charges of falsifying business records to cover up a hush money payment to a porn star before the 2016 election, in New York State Supreme Court in Manhattan, New York, on Feb. 15,...
FCC to vote in March on rules for ‘all-in’ cable and satellite pricing
Signage is seen at the headquarters of the Federal Communications Commission in Washington, D.C.Andrew Kelly | ReutersWASHINGTON â A federal consumer protection watchdog agency on Wednesday announced that it will be voting on rules that will require cable and...
Feds charge Japanese Yakuza leader with nuclear materials trafficking
The DOJ alleges that a high-ranking member of the Yakuza, Takeshi Ebisawa, was the central figure in a plot to funnel American weapons to ethnic militias in Myanmar in exchange for heroin and meth. Ebisawa is charged with narcotics importation, money laundering, and...
FCC finalizes rules for ‘all-in’ cable and satellite pricing
Signage is seen at the headquarters of the Federal Communications Commission in Washington, D.C.Andrew Kelly | ReutersWASHINGTON â A federal consumer protection watchdog agency on Wednesday announced it has finalized rules that will require cable and satellite...
RBI ups scrutiny of fintechs with more inspections, ET BFSI
From hiring analysts to scrutinise customer data to holding frequent meetings with executives, India's financial regulator is bolstering oversight of fintech firms in a signal of an end to years of light-handed regulation of a key business sector.Those steps from the...
Bank of England says UK recession is modest in historical terms and that upturn is probably underway, ET BFSI
London, Feb 20 (AP) Bank of England Gov. Andrew Bailey said Tuesday that the UK's economic recession that was confirmed last week is modest by historical standards and is probably over. In testimony to lawmakers, Bailey said the two successive quarters of negative...
NPS accounts to be more secure; PFRDA introduces new rule, ET BFSI
The Pension Fund Regulatory and Development Authority (PFRDA) has enhanced the security of the National Pension System (NPS) under the government sector by introducing two-factor authentication for logging in to the CRA system. In a circular dated February 20, 2024,...
‘Digital rupee can be used for overseas payments’, BFSI News, ET BFSI
MUMBAI: RBI has said that the central bank's digital currencies could be used for cross-border payments. This can be done using a shared platform developed under the Bank for International Settlements (BIS) led Project Dunbar.RBI deputy governor Michael Patra raised...
Two years after Apple quit Russia over Ukraine, Vision Pros are for sale in Moscow
Apple's Vision Pro headsets are displayed in an Apple store on the day they go on sale for the first time in Los Angeles, California, U.S., February 2, 2024. Mike Blake | ReutersWASHINGTON â Just one week after Russia launched its full-scale assault on Ukraine in...
Finance Minister Nirmala Sitharaman chairs 28th FSDC meeting in presence of RBI, SEBI top brass, ET BFSI
Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs, presided over the 28th meeting of the Financial Stability and Development Council (FSDC) in New Delhi on Thursday.Dr. Bhagwat Karad, the Minister of State for Finance, joined the gathering alongside...
Global interest rates may have peaked, inflation target a prolonged journey: RBI, ET BFSI
Kolkata: The Reserve Bank of India believes that global interest rates may have peaked while achieving the inflational target looks like a prolonged journey. In India repeated food shocks are preventing the positive impact of falling core inflation from manifesting...
Nikki Haley vows to stay in 2024 race, after raising $16.5 million in January
Nikki Haley hosts a rally in Conway as part of her swing in the Palmetto State leading up to the State's primary, in Conway SC, United States on January 28, 2024. Anadolu | Anadolu | Getty ImagesFormer South Carolina governor and GOP presidential candidate Nikki...
RBI Cracks Down on Paytm and Other Financial Frauds, ET BFSI
For Indian regulators seeking to crack down on potential fraud in the financial sector, Paytm may just be the beginning.India stunned investors last month by abruptly suspending most activities of the banking affiliate of Paytm, a once high-flying fintech star that...
Woman drops claim of Leon Black rape at Jeffrey Epstein mansion
FILE: Leon Black, chairman and chief executive officer of Apollo Global Management LLC, at the Milken Institute Global Conference in Beverly Hills, California, U.S., on Tuesday, May 1, 2018. Patrick T. Fallon | Bloomberg | Getty ImagesA woman who had accused Apollo...
Paytm bank RBI crackdown may just be the start? Banks’ rush for clients set for reckoning, ET BFSI
For Indian regulators seeking to crack down on potential fraud in the financial sector, Paytm may just be the beginning.India stunned investors last month by abruptly suspending most activities of the banking affiliate of Paytm, a once high-flying fintech star that...
Sebi uncovers $241 million accounting issue at Zee, ET BFSI
India’s market regulator has found a hole of more than $240 million in the accounts of Zee Entertainment Enterprises Ltd., dealing another blow to the embattled media firm less than a month after its merger with Sony Group Corp’s local unit collapsed.As part of its...
Latest news on Russia and the war in Ukraine
Belarus leader Lukashenko calls for armed street patrols, warns of 'extremist' crimeBelarus President Alexander Lukashenko called on law enforcement agencies on Tuesday to organise patrols with small arms on the streets of Belarusian cities to ensure the safety of...
Shrinking CAD gives RBI a better cushion, BFSI News, ET BFSI
India's current account deficit is, according to Shaktikanta Das, eminently manageable. A narrowing merchandise trade gap, robust services exports and a turnaround in FDI are all contributing. Forex reserves have become stable after a patch of vulnerability during a...
Turkey is back in from the cold with NATO and F-16 moves
President of Turkey Recep Erdogan addresses journalists during the final national press conference during the high level NATO summit in Litexpo Conference Centre in Vilnius, Lithuania on July 12, 2023.Dominika Zarzycka | Nurphoto | Getty ImagesTurkey spent nearly two...
RBI report, BFSI News, ET BFSI
MUMBAI: The next leg of growth for the Indian economy will come from a fresh round of capacity expansion by the corporate sector, according to the State of the Economy Report published by RBI. The fresh investment is expected to happen with consumer price inflation...
Appeals court to rehear Nasdaq diversity rule challenge
The Times Square NASDAQ MarketSite is seen on March 2, 2015 in New York City.Bryan Thomas | Getty ImagesA federal appeals court agreed to rehear a challenge by two conservative groups to Nasdaq's board diversity rule related to the disclosure of women and minority...
White House to expand Russia sanctions over Alexei Navalny’s death
Flowers and a portrait of Russian opposition leader Alexei Navalny are seen following Navalny's death, as people gather near the Russian embassy in Paris, France, February 16, 2024. Gonzalo Fuentes | ReutersThe White House plans to announce new sanctions against...
Middle East escalation likely as Houthis launch most damaging attack yet
Armed Yemeni supporters of the Houthi movement sit on the back of an armored vehicle during an anti-Israel and anti-US rally in the Houthi-controlled capital Sanaa on January 22, 2024, amid ongoing battles between Israel and the militant Hamas group in Gaza. Mohammed...
Inflation expectations may stabilise, edge down going ahead: RBI bulletin, ET BFSI
MUMBAI: Inflation expectations in India may stabilise and edge down going ahead but renewed pressures from cereals and proteins cannot be ruled out, the Reserve Bank of India said in its February bulletin published on Tuesday.The country's retail inflation eased to a...
X suspends account of Navalny’s widow, Yulia Navalnaya
Yulia Navalnaya, wife of late Russian opposition leader Alexei Navalny, attends the Munich Security Conference (MSC), on the day Alexei Navalny's death was announced by the prison service of the Yamalo-Nenets region where he had been serving his sentence, in Munich,...
Fresh capex by India Inc to fuel next leg of growth: RBI bulletin, ET BFSI
Noting that the Indian economy is sustaining the momentum achieved in the first half of the ongoing financial year, the Reserve Bank of India in the February edition of its monthly bulletin said that expectations of a fresh round of capital expenditure by the...
Walmart agrees to buy Vizio to grow ad business
Vizio televisions are displayed at a store in San Rafael, California, on Feb. 13, 2024.Justin Sullivan | Getty ImagesWalmart has agreed to buy TV maker Vizio, the companies announced Tuesday, as the largest U.S. retailer grows its high-profit ad business.Walmart will...
China cuts key interest rate in latest move to boost its ailing property sector, ET BFSI
BANGKOK - China's central bank announced Tuesday that it cut its 5-year loan prime rate while leaving its 1-year rate unchanged in the latest move to ease pressures on the ailing property market.The 5-year rate was lowered by 0.25 basis points to 3.95% while the...
U.S. proposes UN Security Council oppose Rafah assault, back temporary Gaza ceasefire
Children stand outside their tents at a camp set up for people displaced from Khan Yunis and areas north of Rafah, in the southern Gaza border city with Egypt on Feb. 15, 2024, amid continuing battles between Israel and the Palestinian Hamas movement. Mohammed Abed |...
Piyush Goyal confident of rate cut by Reserve Bank in coming months, ET BFSI
Commerce and Industry Minister Piyush Goyal on Monday exuded confidence that the Reserve Bank will cut interest rates as inflation is under control. The RBI has been maintaining the benchmark interest rate at an elevated level of 6.5 per cent since February 2023....
U.S. pushes for U.N. to support temporary Gaza ceasefire, oppose Rafah assault
A general view of the UN Security Council meeting (UNSC) on the situation in the Middle East on Nov.29, 2023 in New York, United States. The U.S. has proposed a rival draft United Nations Security Council resolution calling for a temporary ceasefire in the...
Niti backs tax reforms on senior care products and suggests reverse mortgage system, ET BFSI
New Delhi: Reverse mortgage system to increase liquidity of senior citizens, tax and GST reforms on senior care products to increase the adoption and safeguard the senior population from financial burden are among a string of measures suggested by government think...
Amit Shah to inaugurate Umbrella Organisation for Urban Cooperative Banking sector on March 2, ET BFSI
Amit Shah to inaugurate Umbrella Organisation for Urban Cooperative Banking sector on March 2Union Home Minister Amit Shah, who also holds the portfolio of the Cooperation Ministry, will inaugurate the umbrella organisation for the urban cooperative banking sector on...
Latest news on Russia and the war in Ukraine
Russia detains dual US-Russian citizen for treason, media reportsRussia's Federal Security Service has detained a woman with dual Russian-U.S. citizenship in the Urals mountain city of Yekaterinburg on suspicion of treason for raising funds for Ukraine's armed forces,...
Houthis claim ‘catastrophic’ attack in Red Sea as crew abandons ship
Aerial view of a tanker.Bugto | Moment | Getty ImagesThe Iran-backed Houthi militant group on Sunday damaged a ship offshore Yemen, prompting its crew to abandon the vessel in the latest escalation of maritime tensions that have disrupted key trade routes in the Red...
Russia says an investigation is underway into Navalnyâs death
Russian opposition leader Alexei Navalny attends a rally in support of political prisoners in Prospekt Sakharova Street in Moscow, Russia on September 29, 2019. Sefa Karacan | Anadolu | Getty ImagesThe Kremlin on Monday confirmed an investigation into the death of...
U.S. considering sanctioning Chinese firms aiding Russia’s war
Russia's President Vladimir Putin and Chinese President Xi Jinping shake hands during a meeting in Beijing on October 18, 2023.Sergei Guneyev | Afp | Getty ImagesMunich, GERMANY â The U.S. is considering slapping sanctions on Chinese companies it believes are...
Wisconsinâs governor signs new legislative maps into law, setting up Democrats to gain seats in November election
MADISON, Wis. (AP) â Wisconsin Democratic Governor Tony Evers signed new legislative district maps into law on Monday that he proposed and that the Republicans who control the Legislature passed to avoid having the liberal-controlled state Supreme Court draw the...
IRDAI issues new circular to help speedy disbursal of unclaimed insurance money, ET BFSI
The Insurance Regulatory & Development Authority of India (IRDAI) has amended the Master Circular on Unclaimed Amounts of Policyholders due to a rise in unclaimed amounts with the insurers raising regulatory concerns.Irdai draft guidelines to safeguard insurance...
RBI tightens grip on KYC compliance with crackdown on Paytm Bank, BPSPs, ET BFSI
The restriction of business payment solutions providers (BPSPs) after curbs on Paytm Payment Bank shows that the Reserve Bank of India (RBI) is intensifying its focus on ensuring the robust implementation of know-your-customer (KYC) checks by financial entities,...
Russia’s war in Ukraine is igniting an old debate in Brussels over debt
French President Emmanuel Macron welcomes Ukraine's President Volodymyr Zelenskyy and German Chancellor Olaf Scholz for a meeting at the Elysee Palace in Paris, France, February 8, 2023.Sarah Meyssonnier | ReutersMunich, GERMANY â Should we borrow from global...
China central bank leaves medium-term policy rate unchanged as expected, ET BFSI
China's central bank left a key policy rate unchanged as expected on Sunday when rolling over maturing medium-term loans, with uncertainties around the timing of an easing by the Federal Reserve limiting Beijing's room to manoeuvre on monetary policy.Beijing is...
