Politics
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...
NITI Aayog calls for financial and legal reforms for elderly care in India, ET BFSI
NITI Aayog has called for tax and legal reforms, housing sector reforms and a robust pension and insurance system for enhancing elderly care in India as the country witnesses a surge in the number of older people. The move is aimed at ensuring that a basic support...
Latest news on Russia and the war in Ukraine
Russian forces have reportedly taken control of Avdiivka's coke plantRussian armed forces have reportedly taken full control of the chemical and coke plant in Avdiivka, the Donetsk city that was captured at the weekend after Ukraine withdrew its troops, fearing...
Biden administration to reportedly relax EV rule on tailpipe emissions
U.S. President Joe Biden answers questions from reporters after driving a Jeep Wrangler Rubicon Xe around the White House driveway following remarks during an event on the South Lawn of the White House August 5, 2021 in Washington, DC. Biden delivered remarks on the...
Leaders appeal for greater support as Russia makes major gain
Mette Frederiksen, Denmark's prime minister, speaks on day two of the Munich Security Conference in Munich, Germany, on Saturday, Feb. 17, 2024. Bloomberg | Getty ImagesMUNICH, Germany â The West is suffering a "colossal failure of imagination" in thinking Russia's...
China’s Wang Yi tells Blinken US should lift sanctions on Chinese firms
US Secretary of State Antony Blinken (L) and Chinese Foreign Minister Wang Yi meet at the 60th Munich Security Conference on Feb. 16, 2024. Wolfgang Rattay | Afp | Getty ImagesWashington should lift sanctions on Chinese companies and individuals, and that attempts to...
More than 400 detained in Russia at events in memory of Navalny, rights group says
A demonstrator carries a placard with a picture of late Russian opposition leader Alexei Navalny as people gather to attend a rally in front of the Russian Embassy in Warsaw on Feb. 16, 2024.Sergei Gapon | Afp | Getty ImagesMore than 400 people have been detained at...
Trump will quit NATO, Hillary Clinton says, as U.S. commitment in question
Former U.S. President and current GOP Presidential candidate Donald Trump addresses the press at Mar-a-Lago on February 16, 2024, in West Palm Beach, Florida.Joe Raedle | Getty Images News | Getty ImagesMUNICH, Germany â NATO members on Saturday weighed the U.S.'...
Germany’s Defense Minister Boris Pistorius says 2% defense spending just the start
Germany's defense minister said on Saturday that his country's commitment to spend 2% of GDP on defense was just the starting point and that more would likely be needed.Earlier in the day, German Chancellor Olaf Scholz insisted that the 2% spending target would be met...
NFRA’s first annual inspection of key audit firms to start by April, ET BFSI
The National Financial Reporting Authority (NFRA) will initiate the first annual inspection of key audit firms-including the Big Five-latest by April, focussed on their processes and standards adopted, people aware of the regulator's thinking told ET.The regulator...
Alexei Navalny death is a pre-election gambit from Putin: Bill Browder
Anti-Kremlin activist Bill Browder said he believes Alexei Navalny's death was intended as a message to political opponents of Russian President Vladimir Putin ahead of elections next month.Dissident Navalny, who died Friday, had been serving a 19-year prison sentence...
Sebi member, BFSI News, ET BFSI
Mumbai: The Securities and Exchange Board of India (Sebi) on Friday said enforcement is not the only solution to address every violation in capital markets but voluntary compliance of law by the participants is important."Enforcement is important, but enforcement...
Jailed Putin foe Alexei Navalny confirmed dead
A photo of Alexei Navalny and candles are seen in front of the Russian consulate in Krakow, Poland on February 16, 2024. Jakub Porzycki | Nurphoto | Getty ImagesA spokesperson for Putin dissident Alexei Navalny confirmed his death on Saturday, after Russian media...
Honduras watchdog bans institutions from trading crypto, ET BFSI
Honduras' CNBS regulator has banned the central American country's financial system from trading in cryptocurrency and similar virtual assets, it said in a resolution, citing risks of fraud and money laundering.The National Banking and Securities Commission said a...
Crypto currencies have no underlying value, says RBI official, ET BFSI
Crypto currencies cannot be referred to as "currencies" as they have no underlying value, a central bank official said. The Reserve Bank of India (RBI) has been critical of new-age currencies like bitcoins, saying they pose systemic risk to the financial systems....
Bank rules may stand in way of SC ruling to reveal hidden information, sources say, ET BFSI
Indian banks' existing norms may stand in the way of Supreme Court ruling to reveal the names of subscribers in electoral bonds, government sources told ToI, while adding that these instruments was to cleanse the system of political funding and curb illicit...
Zelenskyy ready to take Donald Trump to Ukraine’s front line
President of Ukraine, Volodymyr Zelenskyy, speaks during the 2024 Munich Security Conference on February 17, 2024 in Munich, Germany.Johannes Simon | Getty Images News | Getty ImagesMUNICH, Germany â Ukrainian President Volodymyr Zelenskyy said he was willing to...
What happens to your EMIs, electricity bills?, ET BFSI
The Reserve Bank of India has issued a list of frequently asked questions (FAQs) to allay customers' fears after it restricted operations of Paytm Payments Bank (PPBL) citing compliance issues.The regulator also extended the deadline for customers to make deposits and...
Germany’s Scholz commits to spending 2% on defense over next 10 years
German Chancellor, Olaf Scholz arrives for the weekly federal government cabinet meeting on Oct. 11, 2023 in Berlin, Germany.Michele Tantussi | Getty Images News | Getty ImagesMUNICH, Germany â German Chancellor Olaf Scholz on Saturday reaffirmed Berlin's commitment...
How did the high-frequency indicators perform in January 2024?, ET BFSI
~Ritesh and Shrishti SharmaThe Reserve Bank of India (RBI) concluded its first Monetary Policy meeting for 2024 on February 8th, choosing continuity by keeping the repo rate unchanged at 6.5%. With an inflation projection of 5.4%, the central bank sets the tone for...
Judge Engoron to issue ruling in NY business case
Former US President Donald Trump departs after speaking to the press after attending the civil fraud trial against the Trump Organization in New York State Supreme Court, in New York City on January 11, 2024.John Lamparski | AFP | Getty ImagesA judge could deliver a...
Foremost Group CEO Angela Chao died after car went into Texas pond
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 ImagesAngela Chao, CEO of Foremost Group and the sister-in-law of Senate Minority Leader Mitch McConnell, died after her...
U.S. troops may soon be on the front lines against Russia: Sen. Coons
U.S. Senator Chris Coons (D-DE) speaks to reporters during a break from a Senate Armed Services and Foreign Relations joint briefing on the U.S. policy on Afghanistan, on Capitol Hill in Washington, February 2, 2022.Al Drago | ReutersMUNICH, Germany â The U.S. faces...
RBI extends deadline for Paytm Payments Bank to stop transactions till March 15, ET BFSI
Coming as a sign of relief for the crisis-ridden Paytm Payments Bank, the Reserve Bank of India (RBI) has further extended the date to stop all transactions till March 15.Earlier, it had asked the Fintech giant to stop Payments Bank operations from February 29. “No...
What is allowed, what not?, BFSI News, ET BFSI
Since the Reserve Bank of India (RBI) announced the ban on Paytm Payments Bank on January 31, a lot of buzz was in the market regarding what is on and what is off. On Friday, giving some relief to the business, the RBI has further extended the date to stop all...
World leaders react to reports of Putin critic Navalny’s 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 ImagesWorld leaders on Friday reacted with dismay and suspicion to reports...
What will happen with FASTag, NCMC issued by Paytm Payments Bank?, ET BFSI
In its detailed Frequently Asked Questions (FAQs) on Friday, the Reserve Bank of India (RBI) has clarified the operations over FASTag, and the National Common Mobility Card (NCMC) issued by the Paytm Payments Bank.For the FASTag issued by Paytm Payments Bank, users...
Only US can force Middle East peace and should pressure Israel: Lebanon minister
Lebanon's foreign minister called on the U.S. to pressure Israel and bring an end to its bloody war with Palestinian militant group Hamas, which has now entered its fifth month. Speaking to CNBC on the sidelines of the Munich Security Conference, Abdallah Bou Habib...
Jailed Putin opponent Alexei Navalny has died, Russian media says
Opposition leader Alexei Navalny appears on a screen set up at a courtroom of the Moscow City Court via a video link from his prison colony during a hearing of an appeal against his nine-year prison sentence he was handed in March after being found guilty of...
U.S. President Joe Biden again tells Netanyahu that Rafah civilians must be protected
President Joe Biden (L) listens to Israel's Prime Minister Benjamin Netanyahu as he joins a meeting of the Israeli war cabinet in Tel Aviv. U.S. President Joe Biden on Thursday again told Israel's Prime Minister Benjamin Netanyahu that he should not proceed with...
Egypt setting up area at Gaza border which could be used to shelter Palestinians: Reuters
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 |...
What to expect as the 'Davos of Defense' kicks off in Munich with beefed up security
Security forces descended on Munich for the conference which will see an estimated 60 heads of state and over 85 government officials meet.
RBI Governor Shaktikanta Das Recommends Indian Strategy of Coordination Between Central Bank and Govt, ET BFSI
Mumbai: RBI governor Shaktikanta Das has recommended to other countries the Indian strategy of coordination between the central bank and govt to address the demand and supply side of inflation. Das proposed such a coordinated effort, citing the high risk of sovereign...
Latest news on Russia and the war in Ukraine
Zelenskyy heads to Berlin and Paris in hope of signing bilateral security dealsUkraine's President Volodymyr Zelensky addresses media after bilateral talks with Swiss President in Kehrsatz near Bern, Switzerland, on January 15, 2024. Zelensky will attend the World...
Trump social media merger with DWAC appears closer
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 ImagesShares of Digital World Acquisition Corp. jumped 15%...
Trump hush money trial to start on March 25
Republican presidential candidate, former U.S. President Donald Trump attends a pre-trial hearing at Manhattan Criminal Court on February 15, 2024 in New York City. Brendan McDermid | Getty ImagesA judge on Thursday said that jury selection in the New York hush money...
Judge considers whether to disqualify DA Fani Willis
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...
Russia’s Putin says he prefers ‘more predictable’ Biden over Trump in U.S. election
Russia's President Vladimir Putin is seen on a display in the background as U.S. President Joe Biden speaks about "gas prices and Putin's Price Hike" during remarks in the Eisenhower Executive Office Building's South Court Auditorium at the White House in Washington,...
Amid transition towards digital economy, FinMin’s advice to currency minting corp, ET BFSI
Amid India's transition to a digital economy, the Finance Minister Nirmala Sitharaman on Thursday asked state-owned Security Printing & Minting Corporation of India (SPMCIL) to find ways to transform itself.Addressing the foundation day of SPMCIL, Sitharaman said...
RBI Governor Urges Banks to Stay Alert on Loan Risks, ET BFSI
Mumbai: In the central bank’s first meeting with bank chiefs since July 2023, RBI governor Shaktikanta Das on Wednesday raised the issue of outlier growth seen in personal loans segment and the exposure to NBFCs.In Nov 2023, RBI had hiked risk weights on unsecured...
Dems tout New York special election win as a blueprint to beat Trump, GOP
Democratic U.S. House candidate Tom Suozzi celebrates his victory in the special election to replace Republican Rep. George Santos on February 13, 2024 in Woodbury, New York. Stephanie Keith | Getty ImagesDemocrats aren't just breathing a sigh of relief after...
RBI bars fintechs from issuing business credit cards on KYC worries, ET BFSI
MUMBAI: RBI has asked payment networks Visa and Mastercard to stop facilitating business credit card issues by fintech aggregators, also known as business payment solution providers.Business credit cards, unlike consumer credit cards, are issued to businesses. These...
CBO Director warns lawmakers of rising deficit and interest costs
CBO Director Phillip Swagel testifies during the House Budget Committee hearing titled "The Congressional Budget Office's Budget and Economic Outlook," in Longworth Building on Wednesday, February 14, 2024.Tom Williams | Cq-roll Call, Inc. | Getty ImagesThe director...
Sticky UK inflation stokes Bank of England rate-cut debate, BFSI News, ET BFSI
London, Feb 14, 2024 -British annual inflation steadied last month, official data showed Wednesday, but prices still rose at double the Bank of England's target rate, adding to uncertainty over the timing of an interest-rate cut.The Consumer Prices Index was unchanged...
IFSCA Unveils Payment Rules for GIFT Fintechs, BFSI News, ET BFSI
AHMEDABAD: The International Financial Services Authority (IFSCA) recently issued new regulations for fintech entities in GIFT IFSC willing to offer payment services in GIFT City. Over and above approval from the Reserve Bank of India (RBI), merchant payment services...
Latest news on Russia and the war in Ukraine
NATO chief expresses hopes U.S. will pass Ukraine aid packageNATO chief Jens Stoltenberg reiterated hopes that the U.S. Congress will approve a package of ongoing aid for Kyiv, after the U.S. Senate earlier this week passed a $95 billion package in funding for...
NATO chief concedes spending criticism as allies up defense budget
NATO Secretary General Jens Stoltenberg speaks during a press conference on the third day of the International Monetary Fund and World Bank annual meeting, in Marrakech, Morocco, October 11, 2023.Susana Vera | ReutersNATO Secretary General Jens Stoltenberg conceded to...
Trump scores DeSantis fundraiser to bolster campaign war chest
Omeed Malik, CEO, Colombier Acquisition Corp at the New York Stock Exchange, June 17, 2021.Source: NYSEVeteran Wall Street executive Omeed Malik is planning to raise over $3 million and donate at least $100,000 in support of Donald Trump's campaign, the latest backer...
IMF’s Gopinath urges central banks to move cautiously on any rate cuts, ET BFSI
WASHINGTON, - The No. 2 official at the International Monetary Fund on Monday said inflation had come down in many countries and the global economy appeared headed for a soft landing, but central banks should to move cautiously on any interest rate cuts."It is...
Latest news on Russia and the war in Ukraine
Ukrainian soldiers prepare L119 artillery in the direction of Bakhmut, as Russia-Ukraine war continues in Donetsk Oblast, Ukraine on February 13, 2024. Anadolu | Anadolu | Getty ImagesRussian missile strikes on a town in the eastern Ukrainian Donetsk region killed...
RBI Governor Shaktikanta Das, ET BFSI
New Delhi [India], February 12 (ANI): Reserve Bank of India (RBI) Governor Shaktikanta Das underscored the role played by the RBI in fostering the widespread adoption of Unified Payments Interface (UPI) in India.He emphasized the institution's commitment to supporting...
Bitcoin money launderer Ian Freeman ordered to pay $3.5 million
Ian Freeman outside of the federal courthouse in Concord, New Hampshire, in April 2023.NBC 10 BostonA New Hampshire libertarian activist and radio show host convicted of using bitcoin to launder tens of millions of dollars in proceeds from romance scams and internet...
Sebi asks companies for accurate details on end use of IPO funds, ET BFSI
Mumbai: Companies looking to raise money through initial public offerings (IPOs) will have to give accurate details of the end use of the funds. The Securities and Exchange Board of India (Sebi) has increased scrutiny of IPO disclosures and, in several cases, asked...
Visa, Mastercard stop business payments via cards post RBI instructions, ET BFSI
In a move that caught the industry by surprise, the Reserve Bank of India asked card networks like Visa and Mastercard to stop card based commercial payments made by corporations and small enterprises.Transactions being done at other business outlets who might not be...
House Republicans impeach Homeland Security Secretary Mayorkas
The Republican-led House of Representatives on Tuesday impeached Homeland Security Secretary Alejandro Mayorkas, only the second time in U.S. history that a Cabinet member has been impeached.The House by the barest of margins, 214-213, approved two articles of...
Brainard amplifies ‘shrinkflation’ as latest White House battle
Director of the National Economic Council Lael Brainard speaks during the daily press briefing at the White House January 11, 2024 in Washington, DC. Brainard fielded a range of questions about the economy and inflation.Drew Angerer | Getty ImagesNational Economic...
Supreme Court tells Trump prosecutor to answer immunity challenge
Former U.S. President Donald Trump sits in the courtroom during his civil fraud trial at New York Supreme Court on January 11, 2024 in New York City.Michael M. Santiago | Getty ImagesSupreme Court Chief Justice John Roberts on Tuesday told Department of Justice...
EU considering sanctions on Chinese firms supporting Russia’s war machine
This 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 third Belt and Road Forum for International Cooperation at the Great Hall of...
New Yorkers voting to replace ex-Rep. George Santos in crucial special election
Voting signs are seen outside city hall for New York's 3rd Congressional District special election in Glen Cove, N.Y., on Sunday, February 4, 2024.Tom Williams | Cq-roll Call, Inc. | Getty ImagesNew Yorkers are casting ballots Tuesday to pick their successor to...
Treasury proposes rule to extend anti-money laundering regs to investment advisers
US Secretary of the Treasury Janet Yellen speaks with the press after a tour with staff through the Financial Crimes Enforcement Network (FinCEN) office in Vienna, Virginia, on January 8, 2024.Andrew Caballero-Reynolds | AFP | Getty ImagesThe Treasury Department's...
ITAT quashes income addition of Rs 40 lakh in hands of non-resident, holds agreement-value of flat as valid, ET BFSI
Representative ImageMUMBAI: The Income-tax Appellate Tribunal (ITAT), Delhi bench, has given an order in favour of a non-resident taxpayer, who had purchased a flat in a posh suburb of Mumbai.The tax tribunal held that a sum of Rs 40.45 lakh which was the difference...
Georgia D.A. in Trump election case may have to testify at hearing
Fulton County District Attorney Fani Willis attends a Harrison Floyd bond revocation hearing at the Fulton County Courthouse in Atlanta on Nov. 21, 2023.Dennis Byron | ReutersThe judge in the Georgia election criminal case against Donald Trump seemed inclined Monday...
Senate approves Ukraine aid, but bill faces tough path through House
Ukraine sympathizers fly a Ukrainian flag outside as the Senate works through the weekend on a $95.3 billion foreign aid bill with assistance for Ukraine and Israel at the U.S. Capitol on February 11, 2024 in Washington, DC. Roberto Schmidt | Getty ImagesU.S. Senators...
Instagram ‘warning screens’ for illegal content are target of Senate demands for details
Republican Sen. Ted Cruz of Texas, left, speaks with Chairman Dick Durbin, a Democrat from Illinois, as Judge Ketanji Brown Jackson speaks during the Senate Judiciary Committee confirmation hearing on her nomination to become an associate justice of the U.S. Supreme...
How is RBI looking to scale up retail CBDC in India?, ET BFSI
Having achieved a significant milestone in December 2023 by recording 10 lakh transactions per day, the Reserve Bank of India (RBI) is actively shaping the future of digital transactions. This explainer delves into the current status, challenges faced, and the...
Trump asks Supreme Court to delay immunity ruling in election case
Former U.S. President Donald Trump speaks during a press conference held at Mar-a-Lago on February 08, 2024 in Palm Beach, Florida. Joe Raedle | Getty ImagesLawyers for Donald Trump on Monday asked the Supreme Court to temporarily halt a ruling rejecting his claim...
RBI Governor, BFSI News, ET BFSI
New Delhi: Reserve Bank of India (RBI) governor Shaktikanta Das ruled out any immediate review of the curbs on Paytm Payments Bank Ltd (PPBL), stressing that such orders are issued after comprehensive deliberation and assessment.The governor, however, said an FAQ will...
Criminal sentencing of Binance founder CZ postponed to late April
Changpeng Zhao, founder and CEO of Binance, attends the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris on June 16, 2022.Benoit Tessier | ReutersThe criminal sentencing of Binance founder Changpeng Zhao...
Bank of England’s Bailey says banks may choose to hold more reserves than expected, ET BFSI
LONDON, - British banks may choose to hold more reserve assets with Bank of England than previously thought, partly because of financial turmoil in the recent past, Bank of England Governor Andrew Bailey said on Monday."I expect the future level of reserves to fall...
Burmans write to RBI, asks Central Bank to intervene on open offer as Religare takeover tussle intensifies, ET BFSI
Mumbai: The Burman family, which is seeking to take over Religare Enterprises Ltd (REL), has accused the latter’s management of blocking its planned open offer in a letter to the Reserve Bank of India (RBI). Religare denied receiving any intimation from the central...
Latest news on Russia and the war in Ukraine
U.S. Senate to vote on Ukraine aid bill Speaker of the House Mike Johnson (R-LA) makes a statement to the press on February 06, 2024 in Washington, DC.Chip Somodevilla | Getty Images News | Getty ImagesThe U.S. Senate is expected to hold a final vote on Tuesday on a...
Prashant Maldikar takes charge as Head of Cyber Security at IFTAS, a RBI Subsidiary, ET BFSI
Prashant Maldikar, Head of Cyber Security, IFTASPrashant Maldikar has moved out from Head IT-Security at RBL Bank and has joined Head Cyber Security at Indian Financial Technology & Allied Services (IFTAS), a subsidiary of the Reserve Bank of India (RBI). In his...
China and Russia no longer perceived as top security threats, research finds
Supporters of the Fridays for Future climate action movement, including one holding a sign showing Russian President Vladimir Putin, in Berlin, Germany.Sean Gallup | Getty Images News | Getty ImagesChina and Russia are considered less of a threat to Western...
Let me say it very clearly, there is no scope of any relaxation or review, ET BFSI
Reserve Bank of India governor Shaktikanta Das has said that there is “hardly any room for review” of the central bank’s decision against Paytm Payments Bank. On January 31, RBI directed Paytm Payments Bank Ltd (PPBL) to stop accepting deposits or top-ups in any...
Austin cancels trip for Ukraine, NATO meetings after hospitalization
U.S. Defense Secretary Lloyd Austin delivers remarks during a meeting with Kenyan Defense Minister Aden Duale at the Pentagon on February 07, 2024 in Arlington, Virginia.Kevin Dietsch | Getty ImagesDefense Secretary Lloyd Austin canceled a trip to Brussels this week...
Defense Secretary Lloyd Austin hospitalized for bladder issue
US Defense Secretary Lloyd Austin takes questions during a press conference at the Pentagon in Washington, DC, on February 1, 2024. Andrew Caballero-reynolds | Afp | Getty ImagesDefense Secretary Lloyd Austin was taken back to the hospital on Sunday afternoon by his...
RBI Guv Das, ET BFSI
After curbing fintech company Paytm's banking unit's operations, the Reserve Bank of India's governor Shaktikanta Das has said there is "hardly any room for review".Talking to reporters in Delhi on Monday, Das said there was "hardly any room" to review the action...
Assam govt tables Rs 2.9 lakh crore budget, proposes no new tax, ET BFSI
Guwahati: The Assam government on Monday presented a Rs 2.9 lakh crore budget for the 2024-2025 financial year with a deficit of Rs 774.47 crore and proposed no new tax. Presenting the annual financial statement for the next fiscal, Assam Finance Minister Ajanta Neog...
Trump attends Florida hearing in special counsel classified documents case
Former U.S. President Donald Trump speaks during a press conference held at Mar-a-Lago on February 08, 2024 in Palm Beach, Florida. Joe Raedle | Getty ImagesFormer President Donald Trump arrived at a federal court in Florida on Monday morning for a closed hearing in...
‘Hardly any room’ to review action against Paytm Payments Bank: RBI Governor, ET BFSI
Amid the growing crisis for FinTech giant – Paytm – after the ban by the Reserve Bank of India (RBI) on its payments bank business, the Governor of the Central Bank said there was "hardly any room" to review the action taken against Paytm Payments Bank.While talking...
India’s retail inflation moderates to 5.10 per cent in January, ET BFSI
India's retail inflation eased to 5.10 per cent on an annual basis as against a four-month high of 5.69 per cent in December, data released by the Ministry of Statistics & Programme Implementation showed on Monday. A Reuters poll of 44 economists had forecast a...
5 things to know before the stock market opens Monday
1. Record runHere are the most important news items that investors need to start their trading day:The S&P 500 closed above 5,000 on Friday for the first time as U.S. stocks continued their steady climb. The S&P, Dow Jones Industrial Average and Nasdaq have...
India’s industrial production growth rises to 3.8% in Dec from 2.4% in Nov, ET BFSI
India's industrial production rose to 3.8 per cent in December 2023 as against 2.4 per cent in November 2023, revealed the data provided by the Ministry of Statistics and Programme Implementation (MoSPI) on Monday. IIP in October was recorded at 11.7 per cent in...
Dutch court orders halt to export of F-35 jet parts to Israel
A U.S. Air Force F-35 Lightning II aircraft assigned to the 34th Fighter Squadron receives fuel from a KC-10 Extender aircraft over Poland, February 24, 2022.Senior Airman Joseph Barron | US Air Force | ReutersA Dutch appeals court on Monday ordered the government to...
Trump’s NATO comments stir up a political storm as Russia keeps quiet
Former U.S. president Donald Trump pictured during a meeting with NATO Secretary-General Jens Stoltenberg at Winfield House, London on Dec. 3, 2019.NICHOLAS KAMM | AFP | Getty ImagesFormer U.S. head of state and presidential candidate Donald Trump stoked the ire of...
Russia’s Wagner Group expands into Africa’s Sahel with a new brand
MOSCOW, Oct. 1, 2023: People visit a makeshift memorial for Wagner private mercenary group chief Yevgeny Prigozhin in central Moscow on October 1, 2023, to mark 40 days since his death as per Orthodox tradition.Natalia Kolesnikova | Afp | Getty ImagesWagner Group has...
Israeli forces rescue 2 hostages in dramatic Gaza raid
Israeli soldiers operate in the Gaza Strip amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in this handout picture released on Dec. 18, 2023.Israel Defense Forces | Via ReutersIsraeli forces rescued two hostages early Monday,...
Securities Appellate Tribunal may have to hear afresh many important cases, ET BFSI
The Securities Appellate Tribunal (SAT) may have to hear afresh cases involving Sahara India, Bombay Dyeing and Franklin Templeton among several others, as two of its three members including the presiding officer retired before the final orders could be delivered.The...
The EU’s green reputation takes a hit
A farmer pulls waste to block the RN 19 near in Vesoul, eastern France, on January 25, 2024. Sebastien Bozon | Afp | Getty ImagesThe European Union prides itself on being a champion for the environment.But that reputation is now being firmly tested, after it toned...
Musk denies selling Starlink terminals to Russia after Kyiv alleges use
A Falcon 9 rocket launches a Starlink mission from Florida on Feb. 27, 2023.SpaceXUkraine's main military intelligence agency accused Russian forces of using Starlink terminals produced by Elon Musk's SpaceX in occupied areas.Starlink has been adamant that its...
Liquidity measures widen market-repo rate disconnect, BFSI News, ET BFSI
The Reserve Bank of India aims for market rates to be aligned with the repo rate, but over the past four years, amidst extraordinary economic events, market rates have largely been disconnected from the policy rate, as liquidity conditions have been either tailored to...
Assam Finance Minister, Ajanta Neog tables state budget for 2024-25 today, ET BFSI
Assam Finance Minister Ajanta Neog will table the state budget for 2024-25 in the floor of the Assam Legislative Assembly on Monday.This budget will be her fourth budget and earlier, the state Finance Minister told that this budget will be a realistic budget.The...
Russia-Ukraine war live updates, Feb. 12, 2024
Musk denies selling Starlink terminals to Russia after Kyiv alleges use in occupied areasA SpaceX Falcon 9 rocket flies carrying a payload of 22 Starlink satellites into space after launching from Vandenberg Space Force Base on January 28, 2024 as seen from Los...
Senators test Israel, Ukraine bill support, vote on Super Bowl Sunday
U.S. Senate Majority Leader Chuck Schumer (D-NY) holds a press conference after the Senate passed a continuing resolution to avoid a shutdown of the federal government, in Washington, U.S., November 15, 2023. Elizabeth Frantz | ReutersSenators spent the weekend in...
Biden campaign co-chair on Biden memory
U.S. President Joe Biden gestures as he delivers remarks at the White House in Washington, U.S., February 8, 2024. Kevin Lamarque | ReutersPresident Joe Biden's campaign national co-chair Mitch Landrieu on Sunday fired back at concerns raised by Special Counsel Robert...
Spend more on defense or Russia can ‘do whatever the hell they want’
Republican presidential candidate and former U.S. President Donald Trump speaks as he holds a campaign rally at Coastal Carolina University ahead of the South Carolina Republican presidential primary in Conway, South Carolina, U.S., on Feb. 10, 2024.Sam Wolfe |...
Top House China hawk to retire, opening seat in battleground Wisconsin
Rep. Mike Gallagher, R-Wis., is seen outside the U.S. Capitol after the last votes of the week on Thursday, June 15, 2023.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesHouse Rep. Mike Gallagher, R-Wi., chairman of the Select Committee on the Chinese Communist Party,...
Taiwan reports more Chinese balloons over Taiwan Strait
A kid runs across the flag of Taiwan banner during the announcement of official results on January 13, 2024 in Taipei, Taiwan.Sawayasu Tsuji | Getty Images News | Getty ImagesTaiwan's defense ministry said on Sunday it had detected eight Chinese balloons crossing the...
RBI Deputy Governor, ET BFSI
"Every new technology has erased few jobs but created newer ones; skilling and reskilling of the work force is a must."The banking sector and players in the space should be mindful of legal and cyber risks, and skill gaps emanating from Artificial Intelligence (AI),...
Hungarian president Novak resigns over sex abuse case pardon
The President of Hungary, Katalin Novak.Horacio Villalobos | Corbis News | Getty ImagesHungarian President Katalin Novak resigned on Saturday after coming under mounting pressure for pardoning a man convicted of helping to cover up sexual abuse in a children's...
Lookout circular not appropriate for every bank loan default: Delhi HC, ET BFSI
The Delhi High Court has said that the issuance of a Lookout Circular (LOC) cannot be indiscriminately employed in cases of bank loan defaults or credit facilities availed for business purposes. Justice Subramonium Prasad held that a citizen's fundamental right to...
Pakistan ex-PM Imran Khan aide says party aims to form government
Pakistan's former prime minister Imran Khan (R) addresses his supporters during an anti-government march towards capital Islamabad, demanding early elections, in Gujranwala on November 1, 2022.Arif Ali | AFP | Getty ImagesA senior aide to Pakistan's jailed former...
Trader Joe’s appeals loss in trademark lawsuit against union
Joe Raedle | Getty Images News | Getty ImagesTrader Joe's is asking a federal appeals court to reverse a judge's scathing dismissal of the grocery store chain company's lawsuit that alleged trademark infringement by an employee labor union in selling merchandise on...
RBI Deputy Governor, BFSI News, ET BFSI
MUMBAI: RBI deputy governor M Rajeshwar Rao said that large finance companies retain certain advantages over banks and face comparatively lighter regulation due to RBI's nuanced regulatory approach.Rao, who was refuting criticism that finance companies were being...
Trump’s pro-Anheuser-Busch post came after UFC boss Dana White urged him to back company, source says
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 | ReutersFormer President Donald Trump wrote a social...
Odisha industriously creating infra, shrinking digital divide, says CJ Venugopal, ET BFSI
~ Shrishti Sharma“India lives in different generations. It's not just the states you see; it's the rich mosaic of generations shaping our nation,” says C J Venugopal, IAS, Addl. Chief Secretary & Chief Administrator, Government of Odisha, Our today’s guest for the...
Legal, cyber, jobs three risks facing banks on AIML says RBI deputy governor, ET BFSI
Bankers have to be aware of the legal risk, cyber risk and the impact artificial intelligence and machine learning (AIML) will have on the banking system as these new technologies take shape for a larger role in public like Reserve Bank of India (RBI) deputy governor...
Palestinians brace for Rafah evacuation, Israeli assault plan
A picture taken from Rafah shows smoke billowing during Israeli bombardment over Khan Yunis in the southern Gaza Strip on February 9, 2024, amid continuing battles between Israel and the Palestinian militant group Hamas. Said Khatib | Afp | Getty ImagesTrapped in and...
Trump media deal partner DWAC nears $50 million financing, sources tell Reuters
In this photo illustration, Digital World Acquisition Corp (DWAC) logo is seen on a smartphone and Trump Media & Technology Group (TMTG) logo on a pc screen.Pavlo Gonchar | SOPA Images | Lightrocket | Getty ImagesDigital World Acquisition Corp., the blank-check...
Nawaz Sharif claims victory amid vote rigging claims
Campaign posters for Nawaz Sharif, Pakistan's former prime minister, along a street ahead of Pakistan's national election in Lahore, Pakistan, on Friday, Feb. 2, 2024. Bloomberg | Bloomberg | Getty ImagesPakistan's former Prime Minister Nawaz Sharif declared victory...
Judge denies Peter Navarro’s bid to remain out of prison while appealing contempt of Congress case
Peter Navarro, adviser to former U.S. President Donald Trump, faces reporters after he was convicted of contempt of Congress for refusing to cooperate with the House of Representatives committee investigating the January 6, 2021 attack on the Capitol, following his...
Biden willfully kept classified documents: special counsel
President Joe Biden "willfully retained and disclosed classified materials after his vice presidency," Department of Justice special counsel said in a report released Thursday.But special counsel Robert Hur also said that he would not criminally prosecute Biden for...
Biden disputes special counsel report, says memory ‘fine’
President Joe Biden on Thursday evening strongly disputed new claims by Department of Justice special counsel Robert Hur that he "willfully retained and disclosed classified materials" as a private citizen, and that he had exhibited poor memory during an interview...
Putin hints at swapping Wall Street Journal reporter for Russian prisoner
U.S. journalist Evan Gershkovich, who was detained in Russia on spying charges, is escorted out of the Lefortovsky Court building in Moscow on Jan. 26, 2024.Alexander Nemenov | Afp | Getty ImagesRussian President Vladimir Putin on Thursday said "an agreement can be...
Sitharaman shares steps taken to nurse Indian banking system back to health, ET BFSI
Discussing the 'White Paper on the Indian Economy' in Lok Sabha on 9 February, 2024 under Rule 342, Union Finance Minister Nirmala Sitharaman accused the UPA-led government of ruining India’s reputation globally by fiscal mismanagement at the Centre.The 'White Paper'...
Former Fox News host Tucker Carlson interviewed Russian President Vladimir Putin
Russian President Vladimir Putin gave a more than two-hour interview to former Fox News host Tucker Carlson that was released online Thursday, covering a variety of topics, from Ukraine to the Russian economy, but breaking little new ground.Joe Raedle | Getty...
RBI to issue clarifications on Paytm Payments Bank order in FAQs form next week: Shaktikanta Das, ET BFSI
Paytm Payments Bank parent is One 97 Communications, popularly known as Paytm for its digital payments app.Stating that the Reserve Bank of India's (RBI) clampdown on Paytm Payments Bank was the result of persistent non-compliance with regulations, top central bank...
What next for the war as Zelenskyy replaces army chief
Ukrainian President Volodymyr Zelenskyy attends flag hoisting ceremony in Izium after the Ukrainian forces took control of the city from the Russian forces in Kharkiv, Ukraine on September 14, 2022. Commander of the Ukrainian Land Forces Oleksandr Syrskyi, Head of...
Donald Trump wins Nevada Republican caucus
Former U.S. President and Republican presidential candidate Donald Trump delivers remarks at a Nevada Republican volunteer recruiting event at Fervent: A Calvary Chapel on July 8, 2023 in Las Vegas, Nevada.Mario Tama | Getty ImagesFormer President Donald Trump has won...
VC investors put billions in Chinese tech: U.S. congressional report
Rep. Mike Gallagher, center, chair of the House Select Committee on the Chinese Communist Party, speaks at a news conference following a GOP caucus meeting at the Republican National Committee offices in Washington, D.C., on Feb. 28, 2023. He is joined by fellow...
February monetary policy done, when will RBI cut rates?, ET BFSI
Reserve Bank of India governor Shaktikanta DasWhile the Reserve Bank of India maintaining status quo and rate in February policy disappointed the market, analysts see a potential shift in the RBI's stance to "neutral" in the April policy, possibly marking the first...
News on Russia and the war in Ukraine
Putin claims Russia has no intention of expanding war to Poland, LatviaRussian President Vladimir Putin attends an expanded meeting of the Defence Ministry Board at the National Defence Control Centre in Moscow, Russia December 19, 2023. Mikhail Klimentyev | Sputnik |...
RBI to Tap NHAI, NPCI to Fix Rescue Plan for Paytm Users, ET BFSI
The FAQ will be addressing various queries received by the central bank on Paytm, following last week’s regulatory restrictions imposed on the Noida-based firm’s payments bank.The Reserve Bank of India will meet with the country’s highways authority and National...
Rules key, not your business, ET BFSI
Reserve Bank of India Governor Shaktikanta Das' message to the fintech universe is loud and clear: Just because a business is seemingly great doesn't mean it has acquired the licence to flout rules. Amid noise from the startup ecosystem over the central bank's...
UN court has ruled on Gaza genocide case. Here’s what happens now
The hearing of Israel's defense at the International Court of Justice on Jan. 12, 2024, in the Hague, Netherlands.Dursun Aydemir | Anadolu | Getty ImagesLast month, the International Court of Justice ruled on South Africa's legal case accusing Israel of...
Senate advances $95 billion Ukraine, Israel aid package
U.S. Senate Majority Leader Chuck Schumer (D-NY) speaks during the weekly Democratic Caucus lunch press conference at the U.S. Capitol building in Washington, U.S., February 6, 2024. Amanda Andrade-rhoades | ReutersSenators on Thursday advanced a foreign aid package...
Policy rate, inflation aim, growth target, liquidity measures, UPI changes, paytm plans from RBI, ET BFSI
Reserve Bank of India Governor Shaktikanta Das-headed rate-setting panel on Thursday concluded its three-day Monetary Policy Committee (MPC) review meeting. RBI left the repo rate unchanged at 6.5 per cent while retail inflation remains near the higher end of the...
Top Biden official at Senate hearing defends liquefied natural gas pause
U.S. Deputy Secretary Of Energy David M. Turk speaks at the Green Energy Africa Summit at Cape Town International Convention Centre in Cape Town, South Africa, October 5, 2022.Esa Alexander | ReutersA top U.S. Department of Energy (DOE) official on Thursday defended...
Top 10 announcements of RBI MPC meet 2024, ET BFSI
RBI Monetary Policy Highlights: The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) has unanimously decided to keep the repo rate unchanged at 6.5 per cent. The MPC has also decides to remain focused on the withdrawal of the accommodative stance, Das said...
RBI projects 7% GDP growth for FY25 as economy stays resilient, ET BFSI
The Reserve Bank of India (RBI) today projected the real GDP growth for 2024-25 at 7.0 per cent on back of falling inflation, sustained profitability in manufacturing and underlying resilience of services. "Looking ahead, recovery in rabi sowing, sustained...
RBI sees CPI inflation falling below 5% in FY25, ET BFSI
The Reserve Bank of India (RBI) sees retail inflation falling to below 5 per cent on considerable certainty on the food price outlook and some softening in the growth of input costs. "Going forward, the inflation trajectory would be shaped by the evolving food...
AI-generated voices in robocalls can deceive voters. The FCC just made them illegal
The Federal Communications Commission (FCC) logo is seen before the FCC Net Neutrality hearing in Washington February 26, 2015.Yuri Gripas | ReutersThe Federal Communications Commission on Thursday outlawed robocalls that contain voices generated by artificial...
RBI MPC meeting: Why repo rate was kept unchanged at 6.5%
RBI MPC Meeting: The Reserve Bank of India (RBI) kept the key policy rate - repo rate- unchanged at 6.5% after the Monetary Policy Committee (MPC) meeting. RBI governor Shaktikanta Das noted that the GDP growth of the Indian economy continues to be strong despite...
RBI gives a must-do-list for financial institutions amid Paytm crisis, ET BFSI
The Reserve Bank of India's Governor Shaktikanta Das while announcing the Monetary Policy Committee's decision today listed what is key for financial intuitions to adhere for safety of the country's financial system as well as individual institutions."Good governance,...
RBI Guv Shaktikanta Das, ET BFSI
In highly volatile times when even the US and Europe have seen several banks cave under heaps of troubles including loose regulatory compliance, the Reserve Bank of India (RBI) is wide awake and watching the sector closely. It might seem so but hammering down on Paytm...
RBI imposes monetary penalty on Nakodar Hindu Urban Cooperative Bank for violation of norms, ET BFSI
New Delhi [India], February 8 (ANI): The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 6 lakh on the Nakodar Hindu Urban Cooperative Bank Ltd, the central bank said on Thursday.This action is based on deficiencies in regulatory compliance and is not...
5 Marines on helicopter that went down near San Diego confirmed dead
File image showing a A CH-53E Super Stallion helicopter, landing at Subic Bay Freeport Zone on April 23, 2023, as part of the US-Philippines joint military exercise 'Balikatan'. Jam Sta Rosa | Afp | Getty ImagesFive U.S. Marines aboard a helicopter that went down...
Incomplete transmissions & inflationary challenges, RBI drops hints for those reading into MPC’s stance, ET BFSI
Even as the Reserve Bank of India’s (RBI) rate-setting panel kept rates and stance unchanged for the sixth consecutive meeting, economists believe the central bank is hinting at delinking its stance with liquidity management.Although the announcements were largely...
5 things to know before the stock market opens Thursday
Here are the most important news items that investors need to start their trading day:1. Earnings juice A stronger-than-expected earnings season is driving U.S. stocks to new highs. The broad-based S&P 500 index rose about 0.8% on Wednesday, settling just below...
Key highlights of Modi govt’s white paper
The Narendra Modi government on Thursday tabled the much-talked about white paper in the Lok Sabha on Thursday, detailing the "policy misadventures and scams" under the Congress-led UPA government's 10-year tenure and how the NDA set about turning it around.During her...
From Das and co’s status quo to a likely alternate for OTPs, ET BFSI
The Reserve Bank of India-led Monetary Policy Committee (MPC) on Thursday decided to retain the repo rate at 6.5 per cent for the sixth time in a row.With a majority of 5:1, the MPC decided to remain focused on withdrawal of accommodation, keeping the stance...
Trump SPAC insider trading defendant charged with money laundering
Michael Shvartsman, hides from journalists using an umbrella after exiting Federal Court, Thursday, July 20, 2023, in New York.John Minchillo | APA man already charged with insider trading related to a shell company's planned merger with Donald Trump's social media...
How RBI mandate on Key Fact Statement will benefit MSME borrowers?, ET BFSI
In a significant development for the MSME lenders, the Reserve Bank of India (RBI) on Thursday announced to mandate all Regulated Entities (REs) to provide the ‘Key Fact Statement’ (KFS) to the borrowers for all retail and MSME loans. With this move, the REs will have...
Biden’s clean energy plan to cost far more than initial estimates
Phillip SwagelDanny Moloshok | ReutersWASHINGTON — The U.S. budget deficit will grow by an estimated $1 trillion over the next 10 years, the nonpartisan Congressional Budget Office projected in a new report Wednesday.Part of that growth will be driven by unexpectedly...
Paytm app not impacted by directives, is free to partner with other banks, says RBI, ET BFSI
New Delhi: The Reserve Bank of India (RBI) has stated that Paytm app will not be impacted by the recent order issued against Paytm Payments Bank Limited (PPBL)."Just to clarify, the action is against Paytm Payments Bank, not against the Paytm app. The app is not...
No more hidden charges by banks, NBFCs to all borrowers as RBI makes declaring actual interest rate mandatory, ET BFSI
The Reserve Bank of India (RBI) has announced transparency measures for borrowers on other charges that are levied by the lending institutions on taking a loan, apart from interest rates. As per the announcement made, all lending institutions are now required to...
Marianne Williamson drops long-shot 2024 presidential bid
Democratic Presidential hopeful Marianne Williamson speaks at the California Democratic Party 2019 Fall Endorsing Convention in Long Beach, California on November 16, 2019.Mark Ralston | AFP | Getty ImagesAuthor Marianne Williamson announced her exit from the 2024...
RBI to enhance vigilance over Aadhaar Enabled Payment System, release framework soon, ET BFSI
The Reserve Bank of India Governor Shaktikanta Das on Thursday said the central bank is vigilant to enhance the security of Aadhaar Enabled Payment System (AePS) transactions.It is proposed to streamline the onboarding process, including mandatory due diligence, for...
Trump challenge to Colorado ballot ban
U.S. President Donald Trump looks on he as meets with Colorado Governor Jared Polis and North Dakota Governor Doug Burgum in the Cabinet Room of the White House on May 13, 2020 in Washington, DC.Doug Mills-Pool | Getty ImagesThe Supreme Court is set Thursday morning...
RBI holds rates; monetary stance change, rate cuts must wait, ET BFSI
The Reserve Bank of India (RBI) Thursday held interest rates and monetary stance steady for the sixth straight monetary review meeting amid geopolitical tensions and an uncertain food prices trajectory, pouring cold water on expectations of an early easing in...
Persistent non-compliance led to action against Paytm bank, says RBI, ET BFSI
The Reserve Bank of India today said Paytm was in persistent non-compliance and the regulator gave it sufficient time to take corrective measures. The central bank will also come out with an FAQ next week to address queries from various quarters over the issue. "Over...
Chinese firm behind ‘news’ websites pushes pro-Beijing content globally, researchers find
A Chinese flag in Pudong's Lujiazui Financial District in Shanghai, China, on Monday, Sept. 18, 2023. Spread over websites in 30 countries, the propaganda material is interspersed with news aggregated from local news outlets and Chinese state media, according to a...
Action was taken after persistent non-compliance, says RBI Deputy Guv Swaminathan, ET BFSI
Commenting on the Paytm crisis that broke out last month, the Reserve Bank of India (RBI) deputy Governor Swaminathan Janakiraman on Thursday said that this is a regulatory/supervisory action. "We provide the company enough time to take corrective measures," he said,...
Latest news on Russia and the war in Ukraine
Ukraine conspicuously silent on Tucker Carlson interview requestUkrainian President Volodymyr Zelenskyy speaks with CNBC's Andrew Ross Sorkin at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 16th, 2024. Adam Galici | CNBCUkraine's leadership...
Das, BFSI News, ET BFSI
Mumbai: Digital rupee users will soon be able to execute transactions in areas with limited internet connectivity as the RBI on Thursday announced that offline capability will be introduced on the Central bank digital currency (CBDC) pilot project. Reserve Bank of...
Guv says elevated public debt concerning, govt debt to come down, ET BFSI
RBI Governor- Shaktikanta DasAmidst the current headwinds, elevated level of public debt is raising serious concerns on macroeconomic stability in many countries, including some of the advanced economies (AEs), said said RBI Governor Shaktikanta Das while announcing...
Serbia-Kosovo conflict is at a tipping point after normalization deal
Kosovo Police continue to uphold security with search, patrol and control activities in the region after the clash which led by Kosovo Serb politician Milan Radoicic in Banjska northern town of the country, on Sept. 24 in Zvecan, Kosovo on October 3, 2023. The clash...
Tucker Carlson set to interview Vladimir Putin
Political commentator Tucker Carlson speaks at the Turning Point Action USA conference in West Palm Beach, Florida, on July 15, 2023.Giorgio Viera | AFP | Getty ImagesFormer Fox News host Tucker Carlson said he will interview Russian President Vladimir Putin, becoming...
Senate probe zeroes in on Harlan Crow tax deductions for superyacht used for Clarence Thomas vacations
Clarence Thomas, associate justice of the U.S. Supreme Court, listens during a ceremony on the South Lawn of the White House in Washington, D.C., U.S., on Monday, Oct. 26, 2020.Al Drago | Bloomberg | Getty ImagesWASHINGTON — Billionaire real estate executive Harlan...
U.S. engineer contacted China before stealing missile tech
A deactivated Titan II nuclear intercontinental ballistic missile, or ICBM, is seen in a silo at the Titan Missile Museum in Green Valley, Arizona, May 12, 2015.Brendan Smialowski | AFP | Getty ImagesFederal prosecutors charged an engineer who worked at a Los...
RBI Guv to announce monetary policy on Thursday morning, ET BFSI
Mumbai: Reserve Bank Governor Shaktikanta Das will announce the bi-monthly policy on Thursday amid expectations of continued pause on the key interest rate as inflation remains near the upper tolerance level of 6 per cent. For a year, the Reserve Bank has kept the...
Musk funds Gina Carano lawsuit vs. Disney over ‘Mandalorian’ firing
Gina Carano as Cara Dune in the "The Mandalorian," a Star Wars series on Disney+.DisneyElon Musk's company X is funding a new lawsuit filed by actor Gina Carano over her firing from the Disney+ streaming TV series "The Mandalorian" after she shared a controversial...
Will Sitharaman’s ‘fiscally prudent’ Budget prompt RBI’s MPC to make moves, re-adjust stance?, ET BFSI
The Reserve Bank of India’s rate-setting panel Monetary Policy Committee (MPC) is most likely to keep the repo rate unchanged at 6.5 per cent for the sixth consecutive time. However, economists say that there may be a change of stance from ‘withdrawal of...
Biden classified documents: No criminal charges expected
U.S. President Joe Biden takes questions from reporters on classified documents as he delivers remarks on the economy and inflation in the Eisenhower Executive Office Building in Washington, D.C., on Jan. 12, 2023.Kevin Dietsch | Getty Images News | Getty...
Milei lashes out at governors after key reform bill setback
Argentines gather in front of the National Congress in Argentina to celebrate that the ruling party could not continue with the debate on the 'Omnibus Law' because they were losing the votes on each article of its general content, in Buenos Aires, Argentina on...
EU tells Hungary its ‘sovereignty’ law violates EU law
Hungarian Prime Minister Viktor Orban holds an annual international media briefing in Budapest, Hungary, December 21, 2023. Marton Monus | ReutersHungary's new law on "protecting national sovereignty", which the ruling Fidesz party said was necessary to protect...
China expresses concerns to U.S. over tariffs, sanctions in Beijing talks
China's financial officials expressed concerns to visiting U.S. Treasury officials about U.S. tariffs, investment restrictions and sanctions set up to "suppress" Chinese companies, the Chinese finance ministry said on Tuesday.Traveler1116 | E+ | Getty ImagesChina's...
5 things to know before the stock market opens Wednesday
Here are the most important news items that investors need to start their trading day:1. Reaching for rate cutsStocks have pulled back from their record highs as doubts grow about how soon the Federal Reserve will start to cut interest rates. After the central bank...
Biden wins Nevada Democratic primary, NBC News projects
U.S. President Joe Biden holds a campaign rally ahead of the state's Democratic presidential primary, in Las Vegas, Nevada, U.S. February 4, 2024.Kevin Lamarque | ReutersPresident Joe Biden has won Nevada's Democratic primary, NBC News projects.The other Democrat on...
China appoints ‘Broker Butcher’ Wu Qing as new chairman of securities regulator
BEIJNG, CHINA - NOVEMBER 13: Illuminated skyscrapers stand at the central business district at sunset on November 13, 2023 in Beijing, China. (Photo by Gao Zehong/VCG via Getty Images)Vcg | Visual China Group | Getty ImagesChina's cabinet on Wednesday appointed...
Geert Wilders leadership hopes sink as coalition talks collapse
Leader of the Netherlands' Party for Freedom (PVV), Geert Wilders.Anadolu | Getty ImagesLONDON — Far-right Dutch lawmaker Geert Wilders' hopes of becoming prime minister of the Netherlands are dwindling after coalition talks fell into disarray Tuesday.Pieter Omtzigt,...
RBI likely to stay pat on rates in MPC review on Thursday, BFSI News, ET BFSI
The Reserve Bank of India's (RBI) Monetary Policy Committee is likely to maintain the policy repo rate at 6.50% for the sixth consecutive meeting, according to economists. The focus will be on whether the committee considers altering the policy stance of 'withdrawal...
Hamas proposes three-stage ceasefire over 135 days, leading to end of war
TOPSHOT - A picture taken from Rafah shows smoke billowing over Khan Yunis in the southern Gaza Strip during Israeli bombardment on January 19, 2024, amid ongoing battles between Israel and the Palestinian militant group Hamas. (Photo by AFP) (Photo by -/AFP via Getty...
RBI may issue clarification on Paytm in view of large user base, ET BFSI
The Reserve Bank may come out with some clarification in the Paytm case considering its large user base, financial services secretary Vivek Joshi said, noting that the banking regulator had taken action in the interest of consumer protection.Public sector banks are...
‘None of these candidates’ defeats Nikki Haley in Nevada Republican primary, NBC News projects
Republican presidential candidate, former U.N. Ambassador Nikki Haley speaks during a campaign rally at the Indigo Hall and Events venue on Feb. 5, 2024 in Spartanburg, South Carolina.Brandon Bell | Getty Images News | Getty ImagesFormer U.N. ambassador Nikki Haley...
RBI cancels licence of Jai Prakash Narayan Nagari Sahakari Bank, ET BFSI
Mumbai: The RBI has cancelled the licence of Jai Prakash Narayan Nagari Sahakari Bank Basmathnagar, Maharashtra, as the lender, with its present financial position, would be unable to pay its present depositors in full. The Commissioner for Co-operation and Registrar...
RBI fines Power Finance Corporation for breach of norms, BFSI News, ET BFSI
The Reserve Bank of India (RBI) on Tuesday imposed a penalty of Rs 8.80 lakh on Power Finance Corporation Ltd for breach of norms related to 'Liquidity Risk Management Framework for Non-Banking Financial Companies and Core Investment Companies'.The statutory...
Latest news on Russia and the war in Ukraine
Russia launches missile attack on Ukrainian cities, officials sayRussia launched several waves of missile strikes on Kyiv and other Ukrainian cities during Wednesday morning rush hours, Ukrainian officials said, with falling debris from the downed weapons cutting off...
House Republicans scramble to save Mayorkas impeachment vote as ‘no’ votes emerge
Department of Homeland Security (DHS) Secretary Alejandro Mayorkas looks up during a Senate Appropriations Homeland Security Subcommittee hearing on the department's budget request on Capitol Hill in Washington, May 26, 2021.Kevin Lamarque | ReutersHouse Republican...
Trump fraud judge asks about potential Weisselberg perjury
Allen Howard Weisselberg, the former Trump Organization CFO, appears for sentencing for tax fraud scheme in New York State Supreme Court in the Manhattan borough of New York City, January 10, 2023.Curtis Means | Pool | ReutersThe New York judge set to deliver a...
New Senate bill aims to kill proposed SEC rule on AI conflicts of interest
WASHINGTON — A forthcoming rule from the Securities and Exchange Commission on the use of AI in finance is in the crosshairs of two Republican senators, who introduced a bill Tuesday to kill the regulation before it can be finalized.The draft rule unveiled last July...
Leon Cooperman says he will not vote for Trump or Biden
Billionaire investor Leon Cooperman said on Tuesday that he would not vote for President Joe Biden or former President Donald Trump in a hypothetical November rematch."We have two candidates running. One's bad, the other one's worse. I don't know who's bad, I don't...
Appeals court denies ex-president immunity
Former President Donald Trump does not have presidential immunity from prosecution on criminal charges related to his efforts to overturn his 2020 election loss, a federal appeals court unanimously ruled Tuesday."We cannot accept that the office of the Presidency...
United Ireland in focus with Sinn Fein’s Michelle O’Neill
BELFAST, NORTHERN IRELAND - FEBRUARY 3: First Minister Michelle O'Neill speaks during proceedings of the Northern Ireland Assembly at Stormont on February 3, 2024 in Belfast, Northern Ireland. Handout | Getty Images News | Getty ImagesLONDON — A referendum on Irish...
RBI likely to focus on non-rate steps to fight rising inflation, ET BFSI
The Reserve Bank of India is likely to deploy non-interest rate measures to ensure that its action of raising borrowing costs by 250 basis points since May 2022 is fully passed on to borrowers to combat rising inflation. A big chunk of the increase is yet to be passed...
Asian Development Bank appoints Mio Oka as country director for India, ET BFSI
She will lead the implementation of ADB's country partnership strategy, 2023-2027 that is designed to catalyse robust, climate-resilient, and inclusive private sector-led growth in India, it saidNew Delhi: Asian Development Bank (ADB) on Monday appointed Mio Oka as...
Trump calls to debate Biden, president shrugs him off
Donald Trump, left, and President Joe Biden during the final presidential debate at Belmont University in Nashville, Tennessee, on Oct. 22, 2020.BRENDAN SMIALOWSKI | AFP | Getty ImagesDonald Trump on Monday said he wants to debate President Joe Biden "immediately" —...
Nikki Haley requests Secret Service protection, citing rise in threats
Nikki Haley, the candidate of the Republican Party in the 2024 presidential elections in the US, delivers remarks during a Town Hall campaign event in the Lowcountry in Bluffton SC, United States on November 27, 2023.Peter Zay | Anadolu | Getty ImagesFormer United...
Effective rates now largely higher than repo rate, BFSI News, ET BFSI
Mumbai: The Monetary Policy Committee has not officially raised interest rates for a year, but its novel stance of "focussing on withdrawal of accommodation" has led to much tighter financial conditions than the traditional rate hike stance of "calibrated tightening",...
Bankrupt trucker Yellow repays $700 million Covid loan
Trucks and trailers sit in a Yellow Corp. facility lot, closed after the freight trucking company ceased all operations, in Las Vegas, Nevada, on July 31, 2023. Patrick T. Fallon | AFP | Getty ImagesThe bankrupt trucking company Yellow has fully repaid a controversial...
CII Issues guidelines for independent directors, ET BFSI
The Confederation of Indian Industry (CII) on Monday called on India Inc to clearly delineate the role of independent directors and to allow them to serve up to ten years, as it highlighted their role in ethical decision-making, accountability and sustained...
Interim Budget may help RBI cut rates faster, make home loans cheaper, ET BFSI
The Union Budget's thrust on fiscal consolidation is likely to make it easier for the Reserve Bank of India to shore up the liquidity situation and cut rates this year. In the Interim Budget, Finance Minister Nirmala Sitharaman opted for fiscally strict measures,...
Latest news on Russia and the war in Ukraine
Car allegedly used by Tucker Carlson in Moscow seen leaving Putin's office, media reportsThe reported presence of U.S. journalist Tucker Carlson in Moscow continues to feature in pro-Kremlin media coverage as his movements, and motives for being in Moscow, are closely...
Paytm crisis shows RBI under Raghuram Rajan didn’t think about orderly resolution. Who loses now?, ET BFSI
When the Indian monetary authority began giving out restricted banking licenses to a new category of payment facilitators about eight years ago, it should have spared a thought to their orderly resolution — just in case it had to shutter any of them. As the deepening...
U.S. Treasury team heads to China to talk subsidies, economic policies
The Biden administration has sent five senior U.S. Treasury officials to Beijing this week for economic talks that will include China's "non-market" policies that are adding excess industrial capacity, a Treasury official said on Monday.Wong Yu Liang | Moment | Getty...
ED tapped RBI for more info on FX violations by Paytm Bank users, ET BFSI
The Directorate of Enforcement (ED) sought additional information from the Reserve Bank of India (RBI) less than two months ago, on alleged violation of the Foreign Exchange Management Act (Fema) by individuals and companies using Paytm Payments Bank, people in the...
CM Yogi on Uttar Pradesh budget, ET BFSI
Lucknow (Uttar Pradesh) [India], February 5 (ANI): After announcing the Uttar Pradesh budget for 2024-25, Chief Minister Yogi Adityanath on Monday said that there has been an increase of 6.7 per cent as compared to previous state budgets and for the first time, more...
Experts on long term direction of Interim Budget 2024, ET BFSI
~Shrishti SharmaIn the mosaic of the nation's progress, certain tiles stand out as pivotal and demand meticulous placement. The Finance Minister unfolded the interim budget 2024, laying down the four pillars of Viksit Bharat: Poor, Youth, Women, and Farmers. The...
Yogi govt tables its largest budget at Rs 7.36 lakh cr, ET BFSI
Lucknow: The Yogi Adityanath government on Monday presented the budget for financial year 2024-25 in the Uttar Pradesh assembly with an outlay of Rs 7.36 lakh crore, higher from current fiscal's budget of Rs 6.90 lakh crore.Finance Minister Suresh Kumar Khanna said...
RBI likely to focus on non-rate steps to fight rising inflation, ET BFSI
Mumbai: The Reserve Bank of India is likely to deploy non-interest rate measures to ensure that its action of raising borrowing costs by 250 basis points since May 2022 is fully passed on to borrowers to combat rising inflation. A big chunk of the increase is yet to...
Interest rates expected to hold steady, possible shift to neutral stance amid tight liquidity conditions, ET BFSI
Mumbai: RBI is likely to keep interest rates unchanged after its monetary policy review this week as it battles inflation, said respondents in an ET poll, but some of them said a fiscally prudent interim budget and signs of global monetary easing may prompt the...
Senate releases $118 billion aid proposal for Israel, Ukraine
Senators on Sunday released the details of a $118.2 billion bipartisan aid proposal for Ukraine, Israel and the southern U.S. border, after months of painstaking, closed-door negotiations.The long-awaited bill requests $60.1 billion for Ukraine aid, $14.1 billion for...
Powell says Fed can be ‘prudent’ in weighing rate cuts, BFSI News, ET BFSI
WASHINGTON: The U.S. Federal Reserve can be "prudent" in deciding when to cut its benchmark interest rate, with a strong economy allowing central bankers time to build confidence inflation will continue falling, Fed chair Jerome Powell told the CBS news show "60...
RBI likely to continue status-quo on short-term lending rate, say experts, ET BFSI
MUMBAI: Coming close on the heels of the interim budget which maintained the status quo on policy front, the Reserve Bank is likely to continue with the pause on the short-term lending rate in its upcoming bi-monthly monetary policy this week as retail inflation is...
Australian writer Yang Hengjun given suspended death sentence in Beijing
Chinese police patrol outside the Australian embassy in Beijing on Jan. 25, 2019.Fred Dufour | AFP | Getty ImagesA Beijing court on Monday handed Australian writer Yang Hengjun a suspended death sentence, five years after he was first detained in China and three years...
Quoting Ramayan, FM presents Rs 7.36 lakh cr record budget, says we are no more a Bimaru state; Fiscal deficit at 3.46%, ET BFSI
The Yogi Adityanath government today presented its eighth budget on Monday, with Finance Minister Suresh Khanna stating that it is an inclusive budget that caters to all. This will be the eighth consecutive budget presented by the BJP government and the fifth...
Latest news on Russia and the war in Ukraine
Ukrainian president visits front-line village of RobotyneUkrainian President Volodymyr Zelensky visited troops at the front-line village of Robotyne in southern Ukraine over the weekend.Ukrainian forces recaptured the village in the Zaporizhzhia region last August,...
Liquor and land prices to go up, ET BFSI
Kerala finance minister, KN Balagopal, presented the state budget for the year 2024-25 today. This comes at a time when chief minister Pinarayi Vijayan is facing criticism due to financial difficulties.Here are the key highlights from the minister's budget...
Interest rates expected to hold steady, say experts, ET BFSI
Tight liquidity has ensured that the weighted average call rate (WACR) and other overnight funding instruments have consistently remained much higher than the repo rate. RBI is likely to keep interest rates unchanged after its monetary policy review this week as it...
Russia’s war in Ukraine has had an unlikely consequence
People hold a banner and Ukrainian flags during a rally to mark the one-year anniversary of Russia's invasion of Ukraine on February 24, 2023 in Belgrade, Serbia. As part of the Western Balkans block waiting for EU-membership, Serbia is caught in a geostrategic...
Trump floats ‘more than’ 60% tariffs on Chinese imports
US President Donald Trump and China's President Xi Jinping attend a business leaders event inside the Great Hall of the People in Beijing on November 9, 2017.Nicolas Asfouri | AFP | Getty ImagesFormer President Donald Trump plans to escalate the U.S-China trade war he...
U.S. to carry out ‘additional strikes’ against Iran-backed groups
U.S. National Security Advisor Jake Sullivan answers questions during the daily briefing at the White House on November 13, 2023 in Washington, DC. Win Mcnamee | Getty ImagesNational security adviser Jake Sullivan on Sunday said that the United States will conduct...
Senators race to release their package of border policies and aid for Ukraine and Israel
Senators on Sunday raced to release a highly-anticipated bill that pairs border enforcement policy with wartime aid for Ukraine, Israel and other U.S. allies as part of a long-shot effort to push the package through heavy skepticism from Republicans, including House...
House Speaker Johnson announces ‘standalone’ Israel funding package
Speaker of the House Mike Johnson (R-LA) holds a news conference following a caucus meeting at the U.S. Capitol Visitors Center on January 30, 2024 in Washington, DC. Chip Somodevilla | Getty ImagesHouse Speaker Mike Johnson, R-La., on Saturday announced an...
Indian Economy on Course to Retain Growth Momentum: Finance Minister, ET BFSI
Finance minister Nirmala Sitharaman has been leading the Modi government’s economic management in the second term. In a detailed interview after presenting her sixth straight budget, she spoke to TOI on a wide range of issues, and said that govt held its hand while...
President Joe Biden wins South Carolina Democratic Primary, NBC News projects
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, July 6, 2023.Jonathan...
Tobacco product makers to face Rs 1 lakh penalty, if packing machines not registered with GST authorities, ET BFSI
Manufacturers of pan masala, gutka and similar tobacco products will have to pay a penalty of up to Rs 1 lakh, if they fail to register their packing machinery with the GST authorities with effect from April 1. The move is intended to curb revenue leakage in the...
Nikki Haley in surprise ‘Saturday Night Live’ cameo
Republican presidential candidate former U.N. Ambassador Nikki Haley delivers remarks at her primary night rally at the Grappone Conference Center on January 23, 2024 in Concord, New Hampshire. Joe Raedle | Getty ImagesNikki Haley made a surprise — and funny —...
Focus to be on concluding ongoing strategic sales in FY’25, says DIPAM Secretary, ET BFSI
The Department of Investment and Public Asset Management (DIPAM) will focus on concluding the ongoing privatisation transactions, like IDBI Bank and BEML, and may not look at any new CPSE for a strategic sale in the next fiscal, a senior official said. DIPAM Secretary...
Biden nets landslide victory in South Carolina Democratic primary, over 95% of votes
U.S. President Joe Biden reacts as he attends the opening of the Biden for President campaign office in Wilmington, Delaware, U.S., February 3, 2024. Joshua Roberts | ReutersPresident Joe Biden won a landslide victory in South Carolina's Democratic primary Saturday,...
US starts retaliatory strikes in Iraq and Syria against Iran-linked targets
President Joe Biden arrives to board Air Force One at Joint Base Andrews in Maryland, on January 30, 2024.Andrew Caballero-Reynolds | AFP | Getty ImagesThe United States launched airstrikes in Iraq and Syria against more than 85 targets linked to Iran's Revolutionary...
RBI cautions against KYC related frauds, BFSI News, ET BFSI
MUMBAI: The RBI has cautioned the public against ongoing frauds perpetuated under the guise of know your customer updation.The central bank said that anyone who has fallen victim to frauds should immediately complain through the cybercrime helpline (1930) or on the...
Judge postpones Trump D.C. election trial pending appeal
Former U.S. President Donald Trump speaks to his supporters as he departs for his second civil trial after E. Jean Carroll accused Trump of raping her decades ago, outside Trump Tower in the Manhattan borough of New York City on Jan. 26, 2024.Eduardo Munoz | ReutersA...
Court blocks Florida law barring Chinese citizens from owning property
A "For Sale" sign sits in front of a new home May 27, 2004 in Miami, Florida.Joe Raedle | Getty ImagesA U.S. appeals court has blocked Florida from enforcing a ban on Chinese citizens owning homes or land in the state against two Chinese nationals who were in the...
Trump Georgia prosecutor admits romantic relationship with Atlanta D.A. boss
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...
Gujarat govt presents Rs 3.32 lakh crore budget; no new taxes proposed, ET BFSI
Gandhinagar: The BJP-ruled Gujarat government on Friday presented a Rs 3.32 lakh crore budget that imposed no new taxes. Finance Minister Kanubhai Desai presented the budget for 2024-25 in the Assembly here on the second day of the Budget Session. Desai informed the...
Centre soon to present economy mismanagement White Paper prior to 2014, ET BFSI
The government is likely to present a White Paper on the mismanagement of the economy prior to 2014 with an aim to draw lessons. Prime Minister Narendra Modi-led NDA government came to power in May 2014 after a 10-year rule by the Congress-led UPA government at the...
Here’s what they say, ET BFSI
~ Shrishti SharmaFinance Minister Nirmala Sitharaman presented the Union Budget 2024, an interim one considering the Lok Sabha elections, highlighting the developments of the government in recent past.Some of the key achievements and forecast highlighted by the...
Trump New York business fraud verdict delayed
In this courtroom sketch, former U.S. President Donald Trump looks on as his attorney Alina Habba delivers closing arguments during E. Jean Carroll’s second civil trial in which Carroll accused Trump of raping her decades ago, at Manhattan Federal Court in New York...
Latest news on Russia and the war in Ukraine
Ukrainian President Volodymyr Zelenskyy (right) attends a joint press conference with European Commission President Ursula von der Leyen in Kyiv, Ukraine November 4, 2023.Thomas Peter | ReutersUkrainian President Volodymyr Zelenskyy said Thursday that the European...
Govt to complete IDBI Bank strategic sale in FY’25: DIPAM Secretary, ET BFSI
The government expects to complete the strategic sale of IDBI Bank in the next financial year, a senior official said.In an interview to PTI TV, the Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said the process of...
Malaysia halves jail sentence of ex-prime minister Najib
Najib Razak, Malaysia's former prime minister, gestures as he leaves the Kuala Lumpur Courts Complex in Malaysia, on Thursday, Sept. 20, 2018.Joshua Paul | Bloomberg | Getty ImagesMalaysia halved the jail sentence on Friday of former premier Najib Razak, who was...
Trump clemency recipient Philip Esformes has Medicare plea deal
Philanthropist 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 ImagesConvicted Medicare fraudster Philip Esformes has reached a plea...
IMF says central banks should not rush into rate cuts, BFSI News, ET BFSI
Washington, Feb 02, 2024 -The IMF sees a greater risk to the global economy if central banks start cutting interest rates too soon than if they move "slightly" too late, Managing Director Kristalina Georgieva said Thursday.The US Federal Reserve, the European Central...
RBI has acted after years of warnings about data flows, ET BFSI
SoftBank Group Corp.-backed Paytm, whose official name is One 97 Communications Ltd., went public to much fanfare in 2021 after Sharma built the company to make it easier for consumers to make payments and transfer money. India’s banking regulator stunned the finance...
Russian war critic Boris Nadezhdin is an awkward challenge for Putin
Boris Nadezhdin, the Civic Initiative Party presidential hopeful, arrives at the Central Election Commission to submit signatures collected in support of his candidacy, in Moscow on January 31, 2024.Vera Savina | Afp | Getty ImagesOver President Vladimir Putin's 24...
Ad giant Publicis paying $350 million to settle U.S. opioid claims
A sign for Publicis Groupe SA is seen at their headquarters in Paris, France, on Sunday, July 28, 2013. Balint Porneczi | Bloomberg | Getty ImagesThe health-care division of French ad giant Publicis agreed to pay $350 million to settle claims that its past marketing...
Finance Minister Nirmala Sitharaman carries ‘bahi-khata’, ET BFSI
New Delhi, [India], February 1 (ANI): Union Finance Minister Nirmala Sitharaman on Thursday used her trademark 'bahi-khata', a tablet wrapped in a red-coloured cloth with a golden-coloured national emblem embossed on it as she came out of the Finance Ministry.She...
Union Cabinet approves Interim Budget 2024, ET BFSI
New Delhi [India], February 1 (ANI): The Union Cabinet chaired by Prime Minister Narendra Modi approved the Interim Budget 2024, which will be presented by Finance Minister Nirmala Sitharaman on Thursday.PM Modi chaired the cabinet meeting ahead of the Interim Budget...
Sitharaman presents 6th Budget in a row ahead of Lok Sabha polls, ET BFSI
NEW DELHI: Finance minister Nirmala Sitharaman is poised to make history by presenting her sixth consecutive budget, matching the record set by former Prime Minister Morarji Desai, just ahead of the Parliamentary elections.Interim Budget: Sitharaman's pre-election...
Defense Secretary Lloyd Austin apologizes for hiding hospitalization and cancer diagnosis
U.S. Defense Secretary Lloyd Austin holds a bilateral meeting with NATO Secretary Jens Stoltenberg at the Pentagon in Washington, U.S., January 29, 2024. Leah Millis | ReutersDefense Secretary Lloyd Austin apologized Thursday for concealing his hospitalization and...
DBT of Rs 34 lakh crore using PMJDYY led to Rs 2.7 lakh crore of savings, ET BFSI
Union Finance Minister Nirmala Sitharaman on Thursday presented the Interim Budget 2024.Indian economy has witnessed profound transformation in last 10 years, she said.“In 2014, the country was facing enormous challenges, the government overcame those challenges and...
Structural Reforms, Pro-People Programme & Employment Opportunities Helped Economy Get New Vigour, Sitharaman Says, ET BFSI
NEW DELHI: The government is working to make India a developed country by 2047, finance minister Nirmala Sitharaman said on Thursday.Presenting the interim Budget 2024-25, Sitharaman also said minimum support prices for 'Annadata' (farmers) have been increased...
US banking regulator imposes $65 mn fine on RBC unit City National Bank, ET BFSI
A top U.S. bank regulator on Wednesday imposed a $65 million fine on the Royal Bank of Canada's American unit, City National Bank, over gaps in the lender's risk management and internal controls.The Office of the Comptroller of the Currency (OCC) said that the bank...
QAnon-linked legal fund spent $400,000 defending Trump allies, filing shows
Former U.S. President Donald Trump speaks to a crowd during a campaign rally on September 25, 2023 in Summerville, South Carolina.Sean Rayford | Getty ImagesA fund intended to pay the legal bills of former president Donald Trump's allies backed chiefly by reported...
US energy data agency to track crypto mining power use, BFSI News, ET BFSI
The U.S. Energy Information Administration (EIA) will begin to more closely track electricity consumption by cryptocurrency mining companies operating in the United States, the agency said on Wednesday. The EIA said it plans to launch a survey next week of select...
John Podesta will take over for John Kerry as the U.S. special climate change envoy, AP source says
John Podesta, senior advisor to the President for clean energy innovation, listens during a news conference in the James S. Brady Press Briefing Room at the White House in Washington, DC, on Wednesday, Aug. 16, 2023.Sarah Silbiger | Bloomberg | Getty ImagesWhite House...
What Sitharaman’s bahi khata had for Modi govt’s four focus areas, ET BFSI
Union finance minister Nirmala Sitharaman on Thursday proposed measures targeting PM Modi's four key areas including welfare of youth, women, farmers, and the poor.The government is focused on improving conditions for the poor, women, youth and farmers, Sitharaman...
Why Sitharaman has given more to India than to Indians?, ET BFSI
Coming in the high poll season, the interim budget presented by Finance Minister Nirmala Sitharaman today is quite an unseasonal one. Sitharaman has avoided spiking her budget math with poll calculations despite the Lok Sabha elections coming up within months. In...
Judge dismisses Disney lawsuit against Florida Gov. Ron DeSantis
A judge on Wednesday dismissed a federal lawsuit Disney filed against Florida Gov. Ron DeSantis and other defendants that alleged they retaliated against the company for publicly criticizing a controversial parental rights education law backed by the governor.Judge...
President’s office gets Rs 144.18 crore, 47.5% higher than FY24, ET BFSI
New Delhi: The interim Budget on Thursday allocated Rs 144.18 crore for the staff, household and allowances of the president, a massive increase of Rs 46.49 crore (about 47.5 per cent) from Rs 97.69 crore earmarked in the revised estimates for FY24. In the...
Man pleads guilty in $1B scheme to dodge NY money laundering rules
Las Vegas Review-journal | Tribune News Service | Getty ImagesA man described as an "experienced anti-money laundering specialist" pleaded guilty on Wednesday to illegally funneling more than $1 billion in lucrative, high-risk transactions through small financial...
Modi govt’s Rs 47.66 lakh cr Budget lays strong foundation for ‘Viksit Bharat’, say experts, ET BFSI
Finance Minister Nirmala Sitharaman has presented a Union Budget laying a strong foundation for making India a 'Viksit Bharat' or a developed nation by 2047, opined experts. The finance minister on Thursday presented a Rs 47.66 lakh crore Budget with a focus on all...
‘Lakhpati Didi’ target enhanced to 3 crore, ET BFSI
New Delhi [India], February 1 (ANI): Union Finance Minister Nirmala Sitharaman on Thursday announced in the interim Budget the expansion of the 'Lakhpati Didi' scheme for self-help group workers who earn sustainable income of at least one lakh rupees a year.The...
Nikki Haley super PAC comes into 2024 with $3.5 million in war chest
Republican presidential candidate and former U.S. Ambassador to the United Nations Nikki Haley visits a polling place as voters cast their votes in the New Hampshire presidential primary election in Hampton, New Hampshire, U.S., January 23, 2024. Brian Snyder |...
Govt to launch scheme to help middle class buy or build own house; 2 cr more rural houses: FM, ET BFSI
New Delhi: Wooing the middle class ahead of the general elections, Finance Minister Nirmala Sitharaman on Thursday announced a scheme to help those living in rented accommodations or slums to acquire a house. Parallely, she also announced building 2 crore more houses...
Trump campaign raised $19 million, went into 2024 with $33 million
Republican presidential candidate and former U.S. President Donald Trump holds a campaign rally ahead of the Republican caucus in Las Vegas, Nevada, U.S., January 27, 2024. Ronda Churchill | ReutersDonald Trump's presidential campaign raised $19 million in the fourth...
Finance Minister shares report card of govt schemes, ET BFSI
Union Finance Minister Nirmala Sitharaman in her budget speech at the Parliament on Thursday highlihgted various schemes that the government has launched in its current tenure.Ranging from PM Jan Dhan Yojana to Direct Benefit Transfer scheme, the finance minister gave...
Govt to receive Rs 1.02 lakh cr as dividend from RBI, PSBs in FY25, ET BFSI
Reserve Bank of India (RBI) New Delhi: The government on Thursday projected a dividend income of Rs 1.02 lakh crore from the RBI and public sector financial institutions in the next financial year. The government is set to earn a higher dividend of Rs 1.04 lakh crore...
Donald Trump’s lawsuit over ‘Steele dossier’ thrown out by UK court
Former US President Donald Trump leaves Trump Tower for Manhattan federal court to attend his defamation trial in New York on January 26, 2024.Charly Triballeau | AFP | Getty ImagesDonald Trump's data protection lawsuit against a British private investigations firm...
2024-25 estimates reveal significant shifts in expenditure priorities, ET BFSI
The government plans to substantially increase expenditure by Rs 2,75,282 crore in FY25 over expenditure during this fiscalAccording to the major variations in the Budget Estimates for FY25 over the Revised Estimates for 2023-24, the government has substantially hiked...
Nikki Haley campaign raised $17 million, has $14 million in the bank
Republican presidential candidate and former U.S. Ambassador to the United Nations Nikki Haley speaks during her New Hampshire presidential primary election night rally in Concord, New Hampshire, U.S., January 23, 2024. Faith Ninivaggi | ReutersFormer U.N. ambassador...
Sweeping withdrawal of outstanding tax demands till 2014-15 set to bring relief to millions, ET BFSI
Union Budget 2024: Sweeping withdrawal of outstanding tax demands till 2014-15 set to bring relief to millionsIn a significant move aimed at providing relief to taxpayers and streamlining the resolution of long-pending tax disputes, Finance Minister Nirmala Sitharaman...
India’s cabinet approves Interim Budget 2024, BFSI News, ET BFSI
Interim Budget: India's cabinet on Thursday approved the Interim Budget for fiscal year 2025, while the world's biggest democracy looks at the Modi government 2.0's last financial document with hopes for measures to ease price pains. However, New Delhi is widely...
Latest news on Russia and the war in Ukraine
Now is the time for EU to reach decision on Ukraine help, Scholz saysGerman Chancellor Olaf Scholz holds a speech during the GermanDream Awards 2023 in Berlin, Germany, November 30, 2023. Lisi Niesner | ReutersGerman Chancellor Olaf Scholz on Thursday pushed for a...
Finance minister stays on fiscal consolidation path despite election year, ET BFSI
Finance Minister Nirmala Sitharaman has resisted populism during the election year by capping the fiscal deficit to 5.8 percent during this fiscal and pegging it to 5.1 percent in the next fiscal backed by buoyancy in tax collections."We continue on the path of fiscal...
Biden, allied groups $140 million campaign war chest dwarfs Republican rivals
US President Joe Biden delivers remarks on the debt ceiling from the State Dining Room of the White House on October 4, 2021 in Washington, DC.Nicholas Kamm | AFP | Getty ImagesA coalition made up of President Joe Biden's reelection campaign, the Democratic National...
FM raises capex expenditure by 11.1% to Rs 11.1 crore, BFSI News, ET BFSI
FM raises capex expenditure by 11.1% to Rs 11.1 croreThe government allocated Rs 11.1 lakh crore as capital expenditure for the next fiscal year, Finance Minister Nirmala Sitharaman said in her budget speech on February 1, a rise of 11.1 percent.Brokerages had...
Trump campaign chief urges Republican megadonors to ignore his words
Former U.S. President Donald Trump speaks to his supporters, as he departs for his second civil trial after E. Jean Carroll accused Trump of raping her decades ago, outside a Trump Tower in the Manhattan borough of New York City, U.S., January 26, 2024. Eduardo Munoz...
