Politics
Who’s running for House speaker in the GOP
Majority Whip Tom Emmer (R-MN) speaks at a news conference with female athletes, following the expected House passage of the "Protection of Women and Girls in Sports" Act, on Capitol Hill in Washington, April 20, 2023.Amanda Andrade-Rhoades | ReutersDeeply divided...
RBI likely to have rolled over a part of $5-billion forex swap to boost liquidity, ET BFSI
The Reserve Bank of India may have rolled over a portion of its $5-billion foreign exchange swap that was due for maturity on Monday by conducting an ultra-short term swap whose maturity would augment system liquidity amid tax outflows and currency leakage in the...
Israel-Hamas war updates and latest news on Gaza conflict
Israeli military says it struck over 400 Hamas targets in extensive 24-hour operationThe Israel Defense Force said it carried out a large-scale operation that struck over 400 targets of Palestinian militant group Hamas in the past 24 hours, according to a social media...
RBI ombudsman scheme can’t be reduced to tantalising promise: Delhi HC, ET BFSI
Appalled at the "high-handed approach" of the RBI ombudsman in a complaint against a bank, the Delhi High Court has said the Ombudsman Scheme cannot be reduced to a tantalising promise as it bridges the gap between the regulated entities, such as banks or NBFCs etc,...
Biden tech hubs aim to boost investment across U.S.
President Joe Biden walks to the podium during an event on the economy in the South Court Auditorium of the Eisenhower Executive Office Building on the White House complex, Monday, Oct. 23, 2023.Jacquelyn Martin | APWASHINGTON — The Biden administration on Monday...
A price cap on Russian oil aims to starve Putin of cash. But it’s largely been untested. Until now
For months after Ukraine's Western allies limited sales of Russian oil to $60 per barrel, the price cap was still largely symbolic. Most of Moscow's crude — its main moneymaker — cost less than that.But the cap was there in case oil prices rose — and would keep the...
Turkey’s president submits protocol for Sweden’s admission into NATO to parliament for ratification
Turkish President Recep Tayyip Erdogan delivers remarks during the Turkiye Youth Foundation's Branches Gathering at Bestepe Nation's Convention and Culture Center in Ankara, Turkiye on October 12, 2023.Anadolu Agency | Anadolu Agency | Getty ImagesANKARA, Turkey (AP)...
Sen. Bob Menendez arraignment on new charge in bribery case
Sen. Bob Menendez, D-N.J., is seen after addressing colleagues at a Democratic senate luncheon in the U.S. Capitol on Thursday, September 28, 2023.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesSen. Bob Menendez is set to be arraigned Monday on a federal indictment...
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. Bond yield boostU.S. stock futures slid Monday morning as the 10-year Treasury note yield again ticked above 5% — a level it hit Thursday for the first time since 2007. Earnings...
RBI ombudsman scheme can’t be reduced to tantalising promise: Delhi HC, ET BFSI
New Delhi, Appalled at the "high-handed approach" of the RBI ombudsman in a complaint against a bank, the Delhi High Court has said the Ombudsman Scheme cannot be reduced to a tantalising promise as it bridges the gap between the regulated entities, such as banks or...
What next if Israel embarks on a Gaza ground assault
Israeli soldiers listen to Israel's Defence Minister Yoav Gallant as he meets them in a field near Israel's border with the Gaza Strip, in southern Israel October 19, 2023.Ronen Zvulun | ReutersIsrael is widely expected to embark on a major ground incursion into Gaza,...
RBI action on BoB has peers on alert to plug digitisation loopholes, ET BFSI
Mumbai: The Reserve Bank of India's strong action against Bank of Baroda (BoB), banning it from onboarding new customers on its digital application, has forced other lenders to relook at their digitisation processes, plug loopholes, and monitor employees to prevent...
MPC flags unsecured loan risks, urges look at weights, LTV ratios, ET BFSI
Mumbai: Unsecured lending, where banks give out loans without collateral for personal travel and consumption, is likely to hit a speed bump with investors and members of the Reserve Bank of India's monetary policy committee contemplating lesser loan-to-value (LTV) and...
Israel-Hamas war updates and latest news on Gaza conflict
People should take sides in Israel-Hamas conflict, IDF spokesperson saysAn Israeli military spokesperson criticized the recent spread of protests against Israel as uninformed, urging non-participants in the country's conflict with Hamas to take sides on moral...
Money managers bet ECB rates haven’t hit a peak, BFSI News, ET BFSI
London: Some of the biggest money managers in Europe say traders are wrong to bet the European Central Bank is done hiking interest rates.As a net energy importer, the region is particularly exposed to rising prices if the crisis in the Middle East escalates, and...
House Republicans say the speaker race stalemate is “embarrassing”
U.S. Rep. and former House Speaker Kevin McCarthy (R-CA) speaks to the news media after it was reported that U.S. Rep. Jim Jordan (R-OH) would not seek a third vote to become the next Speaker of the House and instead will back a plan to empower Speaker of the House...
Israel-Hamas war updates and latest news on Gaza conflict
Israel tells Gazans to move south or risk being seen as 'terrorist' partnerPalestinians said they had received renewed warnings from Israel's military to move from north Gaza to the south of the strip, with the added warning that they could be identified as...
RBI MPC meeting minutes dash hopes of early rate cut, BFSI News, ET BFSI
The Reserve Bank of India's Monetary Policy Committee meetings are minutes are out and going by the views expressed by the members, the committee is firm on first taming inflation before talking about growth. In the monetary policy statement, Reserve Bank of India...
RBI may face rupee chaos on Monday as $5 billion swap matures, ET BFSI
The Reserve Bank of India (RBI) is facing a critical juncture in the dollar/rupee forwards market as a $5 billion sell/buy swap initiated in April last year approaches maturity on Monday. When the RBI introduced this sell/buy swap in April last year, global financial...
Federal Reserve chief Jerome Powell signals hold but keeps hike on table, ET BFSI
Federal Reserve chief Jerome Powell suggested the US central bank is inclined to hold interest rates steady again at its next meeting while leaving open the possibility of a future hike if policymakers see further signs of resilient economic growth.The comments...
Volatile food prices to keep monetary policy makers on alert, BFSI News, ET BFSI
The Reserve Bank of India is likely to hold repo rates steady for a long period as easing of core inflation and high real interest rate provide comfort, but the frequent blow to food product prices though transient, may force monetary policy makers to be on alert,...
Rs 2,000 notes worth Rs 10,000 crore left in system: RBI Governor, ET BFSI
New Delhi, Reserve Bank Governor Shaktikanta Das on Friday said Rs 2,000 denomination notes are coming back and only Rs 10,000 crore worth of such notes are still with people. He exuded confidence that these notes will also be returned or deposited back. "Rs 2,000...
Israel-Hamas war updates and latest news on Gaza conflict
Hamas says truckloads of aid 'will not change the catastrophic medical conditions in Gaza'Palestinian militant group Hamas said on Saturday that the expected delivery of truckloads of humanitarian aid via the Rafah crossing "will not change the catastrophic medical...
Interest rates will stay high for now, says RBI Governor Shaktikanta Das, ET BFSI
New Delhi: Reserve Bank of India (RBI) governor Shaktikanta Das said interest rates will stay high, without offering any indication of when softening could start. Monetary policy must remain "actively disinflationary" to ensure the decline in retail inflation in...
Hamas says it releases two U.S. hostages ‘for humanitarian reasons’ after Qatari efforts
A "Shabbat Dinner" table is prepared at the Tel Aviv museum plaza, with 200 empty seats, representing the hostages and missing people on October 20, 2023 in Tel Aviv Israel.Leon Neal | Getty ImagesHamas' armed wing, the Izz el-Deen al-Qassam Brigades, has released two...
Trump Georgia election case: Kenneth Chesebro pleads guilty
Former U.S. President Donald Trump's campaign attorney Kenneth Chesebro is shown in a police booking mugshot released by the Fulton County Sheriff's Office, Atlanta, Aug. 23, 2023.Source: Fulton County Sheriff's OfficeTrump campaign attorney Kenneth Chesebro agreed to...
Trump threatened with prison for violating gag order
Former U.S. President Donald Trump attends his Manhattan courthouse trial in a civil fraud case in New York, U.S., October 18, 2023. Brendan Mcdermid | ReutersA judge laced into Donald Trump on Friday, floating the possibility of heavy sanctions or even jail time...
Biden seeks $105 billion for Ukraine, Israel, Taiwan, border
The Biden administration on Friday requested more than $105 billion from Congress to support the security needs of Ukraine, Israel, Taiwan and the U.S. southern border. President Joe Biden's biggest request in the package is more than $61 billion for Ukraine. Since...
Jim Jordan to face third House speaker vote amid GOP turmoil
US Republican Representative from Ohio Jim Jordan speaks during a press conference at the US Capitol in Washington, DC, on October 19, 2023. Anna Moneymaker | Getty ImagesRep. Jim Jordan of Ohio will face the House of Representatives for a third time on Friday, as he...
Sam Bankman-Fried, FTX allies donated millions in dark money
Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, leaves the Manhattan federal court in New York City, March 30, 2023.Amanda Perobelli | ReutersFormer crypto king Sam Bankman-Fried and his...
Reserve Bank not looking to tighten banks’ unsecured lending norms
India's central bank is currently not looking to tweak existing norms related to banks' unsecured lending portfolios as a sector-wide buildup of stress is not yet in sight, two people familiar with the matter told Reuters.Indian banks have seen a sharp rise in...
Only time will tell how long interest rate will remain high, says RBI Governor Das, ET BFSI
New Delhi, Interest rate is likely to remain high for the moment, Reserve Bank Governor Shaktikanta Das said, stressing the central bank will remain extra vigilant and keep "Arjun's eye" to ensure a sustained decline in inflation. The lending rates are ruling high...
Recent surge in crude oil prices and bond yields poses challenge, says RBI Guv Shaktikanta Das, ET BFSI
The global economy is now facing a triad of challenges, said Reserve Bank of India Governor, Shaktikanta Das on Friday while also adding that the recent surge in crude oil prices and bond yield is a major challenge. Speaking at the Kautilya Economic Conclave in New...
Latest news on Russia and the war in Ukraine
Biden makes 'urgent' military aid appeal for Ukraine and IsraelU.S. President Joe Biden delivers a prime-time address to the nation about his approaches to the conflict between Israel and Hamas, humanitarian assistance in Gaza and continued support for Ukraine in...
Powell signals Fed to stay on hold and keep future hike on table, ET BFSI
New York: Federal Reserve Chair Jerome Powell suggested the US central bank is inclined to hold interest rates steady again at its next meeting while leaving open the possibility of a future hike if policymakers see further signs of resilient economic growth.The...
Israel-Hamas war updates and latest news on Gaza conflict
Depleted supplies of water, fuel and medicine in Gaza pushing hospitals 'to the utter brink': NGOTents for Palestinians seeking refuge are set up on the grounds of an UNRWA centre in Khan Yunis in the southern Gaza Strip on October 19, 2023, amid the ongoing battles...
RBI Governor Shaktikanta Das, ET BFSI
Reserve Bank Governor Shaktikanta Das on Friday stressed that the monetary policy must remain actively disinflationary to ensure that the decline in inflation from its peak of 7.44 per cent in July continues smoothly. Addressing the Kautilya Economic Conclave 2023, he...
CFPB pushing to give consumers more control over their financial data
Rohit Chopra, director of the CFPB, testifies during a House Financial Services Committee hearing on June 14, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesWASHINGTON — The Consumer Financial Protection Bureau on Thursday proposed a new rule to increase...
NY AG wants evidence review after alleged lie
New York Attorney General Letitia James' office suggested Thursday that the Trump Organization failed to produce evidence in the $250 million fraud trial of Donald Trump and his company, citing a recent report accusing a key witness of lying under oath.The AG's office...
U.S. issues ‘worldwide caution’ as tensions in the Middle East soar
Palestinian civil defence members and others carry a youth after being rescued from a building hit by Israeli bombardment in Khan Yunis on the southern Gaza Strip on October 19, 2023. Mahmud Hams | Afp | Getty ImagesWASHINGTON — The U.S. State Department issued a...
Jim Jordan backs plan to empower interim House speaker Patrick McHenry until January
U.S. Rep. Jim Jordan (R-OH) (R) talks to Speaker Pro Tempore Rep. Patrick McHenry (R-NC) as the House of Representatives prepares to hold a vote on a new Speaker of the House at the U.S. Capitol on October 18, 2023 in Washington, DC.Win Mcnamee | Getty ImagesRep. Jim...
Biden pick for Israel envoy Jacob Lew faces tough questions on Iran
Former U.S. Treasury Secretary Jack Lew testifies before a Senate Foreign Relations Committee confirmation hearing on his nomination to be the next U.S. ambassador to Israel, on Capitol Hill, Washington, D.C., on Oct. 18, 2023.Leah Millis | ReutersWASHINGTON — Jacob...
Pro-Trump lawyer Sidney Powell pleads guilty in Georgia criminal election case
Attorney Sidney Powell, an attorney for Donald Trump, speaks during in Alpharetta, Ga., Dec. 2, 2020. Lawyer Sidney Powell pleads guilty as part of deal with prosecutors over efforts to overturn Trump's loss in Georgia.Ben Margot | APRight-wing attorney Sidney Powell...
Israel recession likely as war drags on, economist says
SDEROT, ISRAEL - OCTOBER 13: Israeli army take security measures as they deploy dozens of tanks and armored vehicles to the Gaza border area in Sderot, Israel on October 13, 2023. (Photo by Turgut Alp Boyraz/Anadolu via Getty Images)Anadolu Agency | Anadolu Agency |...
Israel-Hamas war updates and latest news on Gaza conflict
Violence between Israelis and Palestinians rises in West Bank Palestinians rally in solidarity with the Palestinians of the Gaza Strip in the West Bank city of Ramallah, on October 17, 2023. Israeli air strikes on a Gaza hospital compound on October 17 killed at least...
Despite RBI rap to banks over overnight lending, borrowing through MSF stays high, ET BFSI
Despite the Reserve Bank of India expressing displeasure over banks parking funds with the RBI instead of lending to those with deficit, banks have significantly increased their borrowings from the Marginal Standing Facility (MSF) due to the drying up of excess...
Latest news on Russia and the war in Ukraine
Germany's Scholz criticizes Russia's 'cynical' Israeli-Hamas casualty commentsGerman Chancellor Olaf Scholz on Thursday slammed Russian President Vladimir Putin for his "cynical" warnings over the violence and civilian casualties resulting from the ongoing war between...
Biden will seek ‘unprecedented’ Israel aid package
U.S. President Joe Biden speaks during a visit to Israel amid the war between Israel and Hamas, in Tel Aviv, Oct. 18, 2023.Evelyn Hockstein | ReutersUNITED NATIONS — President Joe Biden reaffirmed America's commitment to Israel on Wednesday in Tel Aviv, where he...
Israeli anger at Netanyahu erupts at hospital bedsides
Israeli Prime Minister Benjamin Netanyahu attends a joint press conference with German Chancellor Olaf Scholz, in Tel Aviv, Israel, Tuesday, Oct. 17, 2023.Maya Alleruzzo | Pool | via ReutersOne Israeli cabinet minister was barred from a hospital visitors' entrance....
Jim Jordan should end speaker bid: Chris Christie
Rep. Jim Jordan should get ready to move on, according to fellow Republican Chris Christie.Before Jordan lost his second straight attempt to win the House speaker's gavel, Christie, who's running for the GOP presidential nomination, told CNBC that the Ohio Republican...
Jim Jordan’s House speakership bid on the ropes ahead of second vote
Rep. Jim Jordan, R-Ohio, the Republican nominee for speaker of the House, and House Republican Conference Chair Elise Stefanik, R-N.Y., are seen on the House floor of the U.S. Capitol after he did not receive enough votes to become speaker on Tuesday, October 17,...
Calls grow to elect McHenry temporary House speaker
Speaker of the House Pro Tempore Patrick McHenry (R-NC) talks with U.S. Rep. Jim Jordan (R-OH), currently the top contender in the race to be the next Speaker of the U.S. House of Representatives, prior to a a second round of voting to try to elect a new Speaker of...
Biden calls off Jordan leg of Mideast trip after leader summit canceled
U.S. President Joe Biden (L) and Palestinian President Mahmoud Abbas (R) hold a joint press conference in Bethlehem, West Bank on July 15, 2022.Palestinian Presidency | Anadolu Agency | Getty ImagesWASHINGTON — President Joe Biden will no longer visit Jordan as part...
Latest news on Russia and the war in Ukraine
Russian forces 'unlikely' to make a breakthrough in northeast Ukraine, British defense ministry saysRussian ground forces on the Kupiansk-Lyman axis in northeast Ukraine are "highly unlikely" to achieve a major operational breakthrough, Britain's Defense Ministry...
RBI asks banks to adopt risk-based approach for KYC, BFSI News, ET BFSI
Mumbai: The Reserve Bank on Tuesday tightened the customer due diligence (CDD) norms by asking banks and regulated entities to adopt a risk-based approach for periodic updation of KYC. After a review, the central bank has made amendments to the Master Direction (MD)...
Israel-Hamas war updates and latest news on Gaza conflict
Hamas and Israel trade blame for Gaza hospital blast that killed at least 500Hamas and Israel are blaming each other for the deadly blast on a Gaza hospital Tuesday night that killed hundreds of people. The World Health Organization called the strike on a hospital in...
RBI may opt to roll over $5-b forex swap, BFSI News, ET BFSI
The Reserve Bank of India (RBI) could consider rolling over a $5-billion foreign exchange swap set to mature next week as the central bank, which has repeatedly flagged inflationary risks stemming from excess funds with banks, prioritises liquidity management over...
Trump appeals gag order in DC election case
Former U.S. President Donald Trump attends a Manhattan courthouse trial in a civil fraud case in New York, October 17, 2023.Peter Foley | Pool | via ReutersAttorneys for Donald Trump said Tuesday said they are appealing the partial gag order imposed on the former...
RBI imposes penalty on ICICI Bank, Kotak Mahindra Bank for violation of norms, ET BFSI
The Reserve Bank on Tuesday said it has imposed a penalty or Rs 12.19 crore on ICICI Bank and Rs 3.95 crore on Kotak Mahindra Bank for non-compliance of certain regulatory norms. The penalty on private sector lender ICICI Bank has been imposed for contravention of...
Biden heads to Israel, Jordan after Hamas attack
US President Joe Biden speaks during the Human Rights Campaign National Dinner at the Washington Convention Center in Washington, DC, on October 14, 2023.Andrew Caballero-Reynolds | AFP | Getty ImagesPresident Joe Biden will travel to Israel on Tuesday evening to show...
Judge says his statements pose threat
Former U.S. President Donald Trump attends a Manhattan courthouse trial in a civil fraud case in New York, U.S., October 17, 2023.Curtis Means | Pool | via ReutersDonald Trump made statements that threatened the integrity of his criminal election interference case, a...
Ex-president returns to NY court, slams judge
Former US President and Republican presidential hopeful Donald Trump holds a campaign event during a Club 47 USA event at Palm Beach County Convention Center in West Palm Beach, Florida on October 11, 2023. Giorgio Viera | Afp | Getty ImagesFormer President Donald...
Jim Jordan intends to wear down GOP opposition with multiple votes
US Representative Jim Jordan (C), R-OH, speaks to the press as he leaves after a Republican party caucus meeting at the US Capitol in Washington, DC, on October 16, 2023.Saul Loeb | AFP | Getty ImagesThe House of Representatives will vote Tuesday on whether Rep. Jim...
RBI imposes penalty on ICICI Bank, Kotak Mahindra Bank for violation of norms, ET BFSI
Mumbai, The Reserve Bank on Tuesday said it has imposed a penalty or Rs 12.19 crore on ICICI Bank and Rs 3.95 crore on Kotak Mahindra Bank for non-compliance of certain regulatory norms. The penalty on private sector lender ICICI Bank has been imposed for...
Ron DeSantis campaign raises $15 million, burns through $11 million
Republican U.S. presidential candidate and Florida Governor Ron DeSantis greets his supporters during the Never Back Down South Carolina Bus Tour at Revel Events Center in Greenville, South Carolina, U.S., October 4, 2023. Alyssa Pointer | ReutersFlorida Gov. Ron...
Google, Amazon could benefit from Jim Jordan win
Rep. Jim Jordan, R-Ohio, chairman of the House Judiciary Committee, speaks during the House Oversight and Accountability Committee hearing titled "The Basis for an Impeachment Inquiry of President Joseph R. Biden, Jr.," in Rayburn Building on Thursday, September 28,...
Biden will travel to Israel on Wednesday as war drags into its second week
U.S. President Joe Biden gestures as he boards Air Force One at Delaware Air National Guard Base, in New Castle, Delaware, U.S., April 25, 2022. Tasos Katopodis | ReutersWASHINGTON — President Joe Biden will travel to Israel on Wednesday in an effort to mitigate the...
Israel-Hamas war updates and latest news on Gaza conflict
Germany's Scholz warns Iran, Hezbollah not to intervene in conflictGerman Chancellor Olaf Scholz on Tuesday warned Iran and Lebanese militant group Hezbollah not to become involved in the ongoing Israel-Hamas hostilities."I expressly warn Hezbollah and Iran not to...
RBI fines Mumbai housing finance firm, Gujarat co-op bank, BFSI News, ET BFSI
Gujarat Mercantile Co-operative Bank was penalised as the bank had breached the prudential inter-bank gross exposure limit, breached the prudential inter-bank counterparty exposure limit, and not maintained the minimum Cash Reserve Ratio (CRR) for certain days, the...
Latest news on Russia and the war in Ukraine
Russia is revoking ratification of nuclear test ban treaty, Reuters reportsRussia is revoking ratification of the Comprehensive Nuclear Test Ban Treaty because of the irresponsible attitude of the United States to global security, the speaker of the lower house of the...
SEBI, RBI investigating some alternate investment funds: Sources, ET BFSI
India's markets regulator and its central bank are investigating about a dozen cases of alternate investment funds (AIFs) allegedly being used to circumvent regulations, including "evergreening" of stressed loans, according to three sources with direct knowledge of...
Jim Jordan’s House Speaker bid gains fresh momentum
US Representative Jim Jordan (R-OH) speaks to members of the media at the US Capitol in Washington, DC, on October 4, 2023. Saul Loeb | Afp | Getty ImagesRep. Jim Jordan of Ohio rallied fresh support Monday for his bid to become the next speaker of the House of...
Biden tops Trump in 2024 campaign fundraising for third quarter
U.S. President Joe Biden smiles as he attends to speak about the coronavirus disease (COVID-19) response and the vaccination program from the Rose Garden of the White House in Washington, U.S., May 13, 2021.Kevin Lemarque | ReutersPresident Joe Biden's reelection...
Judge weighs D.C. gag order bid by Jack Smith
Republican presidential candidate and former U.S. President Donald Trump gestures as he delivers a speech during a campaign rally in Wolfeboro, New Hampshire, October 9, 2023.Brian Snyder | ReutersFederal prosecutors are set to argue in court Monday that former...
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. Markets look for footingU.S. stock futures ticked higher Monday morning, as markets come off a week of mixed trading. The Dow Jones Industrial Average rose 0.8% last week, while...
U.S. tackles loopholes in curbs on AI chip exports to China
Processors on display at the Bitmain Technologies Ltd. Sophon booth at the World Artificial Intelligence Conference (WAIC) in Shanghai, China, on Thursday, July 6, 2023.Qilai Shen | Bloomberg | Getty ImagesThe U.S. will take steps to prevent American chipmakers from...
Israel-Hamas war updates and latest news on Gaza conflict
Israel appears to deny cease-fire to allow foreigners out of Gaza StripGazans with foreign passports wait at the Rafah Border Gate to cross into Egypt as Israel's attacks on Gaza continue on the eighth day in Rafah, Gaza on Oct. 14, 2023.Anadolu Agency | Anadolu...
Civil society forum writes to RBI governor Shaktikanta Das seeking information security auditors system for banks, ET BFSI
In the wake of multiple instances of online bank frauds through misuse of biometrics data in Aadhaar cards, a popular civil society forum here has appealed to Reserve Bank of India (RBI) governor Shaktikanta Das for the introduction of information security (IS) audit...
Latest news on Russia and the war in Ukraine
Ukraine says it 'cannot be conquered' after Putin claimsUkrainian President Volodymyr Zelenskyy said the country cannot be conquered after his rival counterpart in Russia claimed Kyiv is suffering "huge losses" in its counteroffensive."Ukraine cannot be conquered...
RBI extends prompt corrective framework to govt NBFCs, BFSI News, ET BFSI
The Reserve Bank of India has extended its prompt corrective action framework to government-owned financial institutions. This framework entails the imposition of business restrictions on lenders with weak financials.The PCA framework is aimed at placing business...
Biden 2024 campaign, allies raise $71 million in latest quarterly haul
U.S. President Joe Biden adjusts his sunglasses as he delivers remarks on his economic objectives at the Tioga Marine Terminal in Philadelphia, Pennsylvania, October 13, 2023.Jonathan Ernst | ReutersPresident Joe Biden's 2024 re-election team and his party said on...
Israel-Hamas war updates and latest and news on Gaza
IDF says no operations in northern Gaza from 10 a.m. to 1 p.m. local timePalestinian citizens inspect damage to their homes caused by Israeli airstrikes on October 14, 2023 in Gaza City, Gaza. Many Gazan citizens have fled to the south following warnings from the...
Jim Jordan nominated House speaker, but falls short of votes needed
Rep. Jim Jordan, R-Ohio, talks to reporters after a House Republican Conference meeting in the U.S. Capitol on the speaker of the house nomination on Thursday, October 12, 2023.Mandel Ngan | Afp | Getty ImagesHouse Republicans on Friday nominated Rep. Jim Jordan of...
Pfizer cuts earnings, revenue guidance as Covid sales slump
Pfizer CEO Albert Bourla talks during a press conference with the president of the European Commission after a visit to oversee the production of the Pfizer-BioNTech Covid-19 vaccine at the factory of U.S. pharmaceutical company Pfizer, in Puurs, Belgium, April 23,...
Israel-Hamas war live updates and news on Gaza
Israeli military says it thwarted infiltration and attacks from LebanonA picture taken from the Lebanese side of the border shows an Israeli soldiers patrolling inside the the northern Israeli village of Metula on October 13, 2023. Joseph Eid | AFP | Getty...
Biden praises Kaiser Permanente agreement: ‘Collective bargaining works’
Healthcare workers strike in front of Kaiser Permanente Los Angeles Medical Center, as more than 75,000 Kaiser Permanente healthcare workers go on strike from October 4 to 7 across the United States, in Los Angeles, California, October 4, 2023.Aude Guerrucci |...
House speaker race creates fundraising chaos as Scalise withdraws
Speaker of the House Kevin McCarthy, R-Calif., conducts a news conference in the U.S. Capitol on border security, government funding, and other issues, on Friday, September 29, 2023. Anna Moneymaker | Getty ImagesThe messy race to elect the next Republican speaker of...
GOP’s Scalise ends his bid to become House speaker after failing to secure the votes to win gavel
Republican Steve Scalise ended his bid to become House speaker late Thursday after hardline holdouts refused to back the party's nominee, throwing the GOP majority into deeper chaos with the chamber unable to function.Scalise told GOP colleagues at a closed-door...
RBI may have dashed early rate cut hopes with a 4% inflation pivot, ET BFSI
In his recent monetary policy statement, Reserve Bank of India (RBI) Governor Shaktikanta Das reiterated the central bank's inflation target of 4%, emphasizing that it was not within the 2-6% tolerance band. This may have dashed the rate-cut hopes of several...
Latest news on Russia and the war in Ukraine
Russia may gain from Middle East crisis, analysts say, but it could backfire if war spirals out of controlRussian President Vladimir Putin walks past Kyrgyz honour guards during a welcoming ceremony prior to talks with his Kyrgyz counterpart in Bishkek on October 12,...
Registration of Ind Bank Housing cancelled by RBI, BFSI News, ET BFSI
The RBI on Thursday announced the cancellation of certificate of registration (CoR) of Ind Bank Housing, a subsidiary of Indian Bank. The public sector bank holds 51% of the Chennai-headquartered housing finance company. The company had reported a net loss of Rs 55.8...
Israel-Hamas war live updates: Latest news on Gaza
Israeli military says its ongoing goal is to 'strip away' Hamas' military abilitiesIsraeli Army Spokesperson for International Media, Lieutenant Colonel Jonathan Conricus.Jalaa Marey | Afp | Getty ImagesThe aim of the Israeli campaign in the Gaza Strip is to "take all...
Don’t tag countries as currency manipulators, ET BFSI
MARRAKECH: RBI governor Shaktikanta Das on Thursday firmly backed the policy of the central bank to intervene in the markets to check extreme volatility and called upon global agencies, such as the IMF and some of the advanced countries, to refrain from tagging...
TransUnion settles with FTC, CFPB for $23 million in housing case
A sign is posted in front of an apartment building with available rentals on June 09, 2023 in San Francisco, California. Justin Sullivan | Getty Images News | Getty ImagesWASHINGTON — Two federal consumer protection agencies have reached a $23 million settlement with...
Bob Menendez accused of acting as agent of Egypt
U.S. Senator Robert Menendez (D-NJ) is trailed by reporters after attending a Senate Judiciary Committee hearing on federal judge nominations on Capitol Hill in Washington, U.S. October 4, 2023. Jonathan Ernst | ReutersSen. Bob Menendez has been accused of acting as a...
Steve Scalise does not appear to have votes to become speaker as GOP remains divided
Rep. Steve Scalise (R-LA) waits to speak during a news conference after a caucus meeting with House Republicans on Capitol Hill May 10, 2023 in Washington, DC.Drew Angerer | Getty ImagesRepublican lawmakers remained divided Thursday after nominating Rep. Steve Scalise...
Biden takes credit for easing inflation, strong job market
U.S. President Joe Biden gives a thumb up after delivering remarks on his efforts to curb so-called junk fees, from the Rose Garden at the White House in Washington, October 11, 2023.Jonathan Ernst | ReutersWASHINGTON — President Joe Biden lauded Thursday's Labor...
Gaza tunnels pose deadly challenge
Smoke billows during Israeli strikes on Gaza City on October 11, 2023.Majdi Fathi | Nurphoto | Getty ImagesIsraeli troops are massing on the border of Gaza following Saturday's surprise attack inside of Israel, but their orders are still unclear.What is clear, however...
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. All eyes on inflation indicatorU.S. stock futures inched higher Thursday morning as investors hope the major averages notch a fifth straight positive session. Inflation data, and...
Tokenisation at banks explained, ET BFSI
Using your debit cards and credit cards online will become more secure and easy as the Reserve Bank of India (RBI) has allowed banks to generate tokens for your cards. At present, you can create tokens only through e-commerce websites while making online payments...
Biden warns Iran to ‘be careful’
U.S. President Joe Biden speaks at a roundtable with Jewish community leaders in the Indian Treaty Room of the White House on Oct. 11, 2023.Brendan Smialowski | AFP | Getty ImagesWASHINGTON — President Joe Biden said Wednesday he warned Iran to "be careful" in the...
Israel-Hamas war live updates: Latest news on Gaza
Blinken arrives in IsraelU.S. Secretary of State Antony Blinken has arrived in Tel Aviv, Israel.U.S. Department of State Spokesperson Matthew Miller on Tuesday said Blinken will meet with Israeli officials, and reiterate condolences for the victims of the...
Latest news on Russia and the war in Ukraine
Ukraine says it prevented Russian saboteurs crossing border Ukraine thwarted an attempt overnight by a Russian saboteur group to cross its northeastern border in the Sumy region, the commander of the Joint Forces of the Armed Forces of Ukraine said on Thursday.A...
Banks request RBI to advance time for reporting CRR status, BFSI News, ET BFSI
For high-street lenders to increase lending in the call money market to avoid intermittent skews in rates, the central bank might have to tweak the timing for computing the Cash Reserve Ratio (CRR) requirement.Banks have requested the Reserve Bank of India (RBI) to...
Economists, BFSI News, ET BFSI
Economists don't see RBI cutting rates in FY24The Reserve Bank of India (RBI) will hold its key interest rate at 6.5% at least till the end of fiscal year 2024, predict top Indian economists. Expectation of a first rate cut is pushed back following a hawkish policy...
Businesses will return $140 million in overdraft fees CFPB report
The Consumer Financial Protection Bureau headquarters in Washington.Samuel Corum/Bloomberg via Getty ImagesWASHINGTON — The nation's federal consumer protection watchdog announced Wednesday that companies will refund $140 million to customers as a result of its work...
Steve Scalise and Jim Jordan vie to become House speaker with GOP set to vote on candidate
Representative Jim Jordan, a Republican from Ohio, during a news conference at the US Capitol in Washington, DC, US, on Thursday, April 27, 2023. Ting Shen | Bloomberg | Getty ImagesRepublican lawmakers are expected to vote Wednesday morning to nominate a candidate...
President Biden addresses Israel-Hamas war
WASHINGTON — U.S. President Joe Biden is set to address the unprecedented attacks on Israel carried out over the weekend by the Palestinian militant group Hamas.Biden's remarks at the White House, which were scheduled for 1 p.m. ET, come as the Pentagon rushes...
Biden condemns ‘terror and bloodshed’ by Hamas, vows to support Israel
WASHINGTON — President Joe Biden denounced Hamas' attacks as terrorism and said the United States stands with Israel."There are moments in this life, I mean this literally, when a pure unadulterated evil is unleashed on this world. People of Israel lived through one...
Scalise and Jordan vie to replace McCarthy in House speaker race
House Minority Whip Steve Scalise, a Republican from Louisiana and ranking member of the House Select Subcommittee on the Coronavirus Crisis, right, speaks with Representative Jim Jordan, a Republican from Ohio, while arriving to a hearing in Washington, D.C., U.S.,...
Here’s what you need to know about Hamas
Palestinian members of the al-Qassam Brigades, the armed wing of the Hamas movement, take part in a gathering on January 31, 2016 in Gaza city to pay tribute to their fellow militants who died after a tunnel collapsed in the Gaza Strip.Mahmud Hams | Afp | Getty...
Satellite images show the scale of Gaza destruction
People carry their belongings around destroyed buildings and debris at the Al-Karama neighborhood after an Israeli airstrike that has been going on for five days in Gaza City, Gaza on October 11, 2023.Anadolu Agency | Anadolu Agency | Getty ImagesSatellite images...
White House announces crack downs on ‘tens of billions’ in junk fees
U.S. President Joe Biden delivers remarks on the Hamas terrorist attacks in Israel in the State Dining Room of the White House October 10, 2023 in Washington, DC.Drew Angerer | Getty ImagesWASHINGTON — The White House on Wednesday will announce new initiatives to rein...
Latest news on Gaza and Israel-Hamas conflict
Pope Francis calls for Hamas to release hostages, expresses concern about Israel’s siegePope Francis speaks during his weekly general audience on St.Peter's Square in Vatican City on October 11, 2023.Tiziana Fabi | Afp | Getty ImagesPope Francis on Wednesday urged the...
Latest news on Russia and the war in Ukraine
Israel conflict could affect oil markets, Russian official saysThe current war between Israel and Palestinian militant group Hamas could affect oil markets, according to Russian Deputy Prime Minister Alexander Novak.Novak represents Moscow in discussions and...
Sebi notifies disclosure rules; extends timeline for confirmation or denial of market rumours, ET BFSI
To streamline disclosure requirements, Sebi has notified new rules and extended the deadlines for mandatory confirmation or denial of market rumours by listed companies. This came after Securities and Exchange Board of India (Sebi), through a circular in late...
RBI to extend PCA supervisory norms to govt-owned NBFCs from Oct 2024, ET BFSI
Mumbai, The Reserve Bank on Tuesday said the strict supervisory norms under the Prompt Corrective Action (PCA) Framework will apply to government-owned non-banking financial companies from October 2024. Being put under the PCA framework means restrictions on dividend...
RBI to extend PCA supervisory norms to govt-owned NBFCs from Oct 2024, ET BFSI
Mumbai, The Reserve Bank on Tuesday said the strict supervisory norms under the Prompt Corrective Action (PCA) Framework will apply to government-owned non-banking financial companies from October 2024. Being put under the PCA framework means restrictions on dividend...
Biden set to deliver remarks on Hamas attack in Israel
U.S. President Joe Biden delivers remarks on Afghanistan during a speech in the State Dining Room at the White House in Washington, August 31, 2021.Carlos Barria | ReutersWASHINGTON — President Joe Biden will address the unprecedented terror attacks carried out by...
McCarthy says he would return as House speaker
Kevin McCarthy, R-Calif., conducts a news conference in the U.S. Capitol on border security, government funding and other issues on Sept. 29, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesWASHINGTON — Kevin McCarthy, R-Calif., said he was open to becoming...
Pentagon pushes U.S defense titans to send weapons
Israeli soldiers pictured on a tank at the Israel-Gaza border.Picture Alliance | Picture Alliance | Getty ImagesWASHINGTON — The Pentagon said Monday it is coordinating with U.S. defense titans to expedite the shipping of pending Israeli weapon orders as violence in...
Latest news on Gaza and Israel-Hamas conflict
More than 187,500 people displaced in Gaza Strip, U.N. saysDisplacements across the Gaza Strip have "escalated" over the past 24 hours, affecting 187,518 people, according to the latest figures from the U.N. Relief and Works Agency out on Tuesday.The agency expects...
After RBI rap, banks may flend surplus funds, bring down call money rates, ET BFSI
Call money rates in the interbank market may dive after the Reserve Bank of India governor Shaktikanta Das highlighted that several banks with surplus liquidity are parking money with short-term deposit facility of the central bank rather than lending to those in...
Latest news on Russia and the war in Ukraine
Israel-Hamas conflict puts Russia in an awkward position Russia's stance on the Israeli-Hamas conflict is complicated, analysts say — Moscow has traditionally good relations with Israel and increasingly close ties to Iran, which provides the Hamas militant group with...
RBI’s hawkish stance, rise in crude prices could delay monetary easing, ET BFSI
Economists are pushing back on their expectations of interest rate reductions by the RBI as it is signaling that it has a long way to go before lowering interest rates. Moreover the Israel-Hamas war could add to the risks of oil prices rising above the current...
U.S. leans on China to influence Iran to cool Middle East tensions
US Senate Majority Leader Chuck Schumer (R) attends a bilateral meeting with Chinese Commerce Minister Wang Wentao (front L) at the Ministry of Commerce in Beijing on October 9, 2023.Andy Wong | Afp | Getty ImagesBEIJING — U.S. Senate Majority Leader Chuck Schumer...
Israel-Hamas war puts pressure on Republicans to select House speaker
Republican lawmakers are under mounting pressure to settle on a candidate to replace Kevin McCarthy as speaker of the House of Representatives this week after the worst attack on Israel in five decades.A senior Biden administration official indicated to reporters on...
Robert F. Kennedy Jr. to run for president as independent, not Democrat
Democratic Presidential Candidate Robert F. Kennedy Jr. speaks during the World Values Network's Presidential candidate series at the Glasshouse on July 25, 2023 in New York City.Michael M. Santiago | Getty ImagesWASHINGTON — Robert F. Kennedy Jr. said he will abandon...
Why RBI warned banks on runaway growth for second time this year?, ET BFSI
For the second time this year, the Reserve Bank of India (RBI) raised a red flag on rising personal loan exposure, warning non-banking finance companies (NBFCs) to strengthen their risk management system.The RBI had issued a cautionary note to banks in April 2023...
RBI adds new weapon as Indian markets gear up for billions in index inflows, ET BFSI
India’s central bank added more firepower to its inflation-busting toolkit as the nation’s entry into global bond index is set to test policymakers’ resolve to manage billions of dollars of inflows that could further fan price pressures.The Reserve Bank of India may...
Latest news on Russia and the war in Ukraine
Kremlin already trying to exploit Hamas-Israeli conflict, analysts sayRussia is likely to try to use the eruption of violence in Israel to distract from its operations in Ukraine, analysts at the Institute for the Study of War noted in analysis on Saturday."The...
Higher-for- longer rate stance may end early 2024, ET BFSI
The new higher-for-longer stage of global monetary policy may last only until the early months of 2024 as central banks begin moving toward cutting borrowing costs.That's the outlook foreseen by Bloomberg Economics, whose aggregate gauge of world interest rates is...
RBI adds new weapon as Indian markets gear up for billions in index inflows, ET BFSI
India’s central bank added more firepower to its inflation-busting toolkit as the nation’s entry into global bond index is set to test policymakers’ resolve to manage billions of dollars of inflows that could further fan price pressures.The Reserve Bank of India may...
Latest news on Gaza and Israel-Hamas conflict
How did Israel and the U.S. miss what Hamas was planning?Hamas' armed wing, the Izz ad-Din al-Qassam Brigades hold a Palestinian flag as they destroy a tank of Israeli forces in Gaza City, Gaza on October 07, 2023. Hani Alshaer | Anadolu Agency | Getty...
Blinken says U.S. has ‘not yet seen’ evidence of Iran involvement in Hamas attack on Israel
U.S. Secretary of State Antony Blinken testifies before the Senate Foreign Relations Committee on March 22, 2023 in Washington.Kevin Dietsch | Getty Images News | Getty ImagesU.S. Secretary of State Antony Blinken said Sunday that it is not clear there was any...
RBI adds new weapon as India gears up for billions in index inflows, ET BFSI
India’s central bank added more firepower to its inflation-busting toolkit as the nation’s entry into global bond index is set to test policymakers’ resolve to manage billions of dollars of inflows that could further fan price pressures.The Reserve Bank of India may...
RBI sounds alarm bells over strong personal loan growth, BFSI News, ET BFSI
MUMBAI: The RBI is concerned about the strong growth in some personal loans and is watching out for any stress in that segment, asking banks, NBFCs and fintechs to strengthen their surveillance mechanisms."Certain components of personal loans are recording very high...
RBI sounds alarm bells over strong personal loan growth, BFSI News, ET BFSI
MUMBAI: The RBI is concerned about the strong growth in some personal loans and is watching out for any stress in that segment, asking banks, NBFCs and fintechs to strengthen their surveillance mechanisms."Certain components of personal loans are recording very high...
RBI adds new weapon as India gears up for billions in index inflows, ET BFSI
India’s central bank added more firepower to its inflation-busting toolkit as the nation’s entry into global bond index is set to test policymakers’ resolve to manage billions of dollars of inflows that could further fan price pressures.The Reserve Bank of India may...
How $6 billion in Ukraine aid collapsed in a government funding bill despite big support in Congress
The collapse of Ukraine aid in Congress was months in the making, and exactly what Senate Republican leader Mitch McConnell had feared.McConnell had warned that political support for Ukraine was in danger as a small but vocal contingent of fellow Republican lawmakers...
U.S. senators led by Majority Leader Schumer make first congressional visit to China since 2019
U.S. Senate Majority Leader Chuck Schumer (D-NY), U.S. Senator Mike Crapo (R-ID) and other members of the delegation arrive at Shanghai Pudong International Airport in Shanghai, China, on Oct. 7, 2023.Aly Song | ReutersA delegation of U.S. lawmakers led by Senate...
RBI’s MPC had hawkish undertone, rate-cut likely in next meet: Economists, ET BFSI
The Reserve Bank of India on Friday decided to retain the repo rate at 6.5 per cent, thereby maintaining a pause on its rate-hike cycle for the fourth consecutive time.Top economists believe that the policy decision by the Reserve Bank of India was on expected lines...
Trump loses bid to stay NY fraud trial, but wins key delay
Former U.S. President Donald Trump gestures while talking to the media during a break as he attends 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, October 4,...
Banks hail RBI’s status quo policy, BFSI News, ET BFSI
Mumbai, Lenders have welcomed the status quo policy as on expected lines and pointed out that the other regulatory measures announced by the Reserve Bank will serve customer interest better and improve the overall market depth. Commenting on the policy, Dinesh Khara,...
Former Army sergeant offered China classified information: DOJ
Department of Defense logo is seen ahead of a press conference at the Pentagon in Washington D.C., United States on August 15, 2023. Celal Gunes | Anadolu Agency | Getty ImagesWASHINGTON — A former U.S. Army sergeant was arrested on Friday for allegedly attempting to...
Kaiser Permanente health workers threaten more strikes
Striking Kaiser Permanente workers hold signs as they march in front of the Kaiser Permanente Vallejo Medical Center on October 06, 2023 in Vallejo, California.Justin Sullivan | Getty ImagesKaiser Permanente workers on Friday threatened further strikes if executives...
GOP House Speaker candidates back out of Fox News debate
Rep. Jim Jordan (R-OH) speaks at a press conference as Rep. Steve Scalise looks on following a Republican caucus meeting at the U.S. Capitol.Kevin Dietsch | Getty ImagesThe top Republicans vying to replace Rep. Kevin McCarthy as the next speaker of the House of...
Biden cheers jobs numbers, asks House to get back to work
U.S. President Joe Biden delivers remarks on the September jobs report at the White House on October 06, 2023 in Washington, DC.Kevin Dietsch | Getty ImagesWASHINGTON — President Joe Biden welcomed job growth news released Friday, but warned of the economic...
Trump allegedly revealed sensitive info about nuclear submarines, according to reports
US President Donald Trump (L), Global Chairman of Pratt/Visy Industries Anthony Pratt and Australian Prime Minister Scott Morrison (not pictured) visit Pratt Industries during the plant's opening in Wapakoneta, Ohio on September 22, 2019.Saul Loeb | AFP | Getty...
RBI to release monetary policy statement on Friday, pause in repo rate likely, ET BFSI
NEW DELHI: The Reserve Bank of India (RBI) will on Friday announce its bimonthly monetary policy statement which is closely watched by financial market participants.The statement by RBI Governor Shaktikanta Das on Friday morning will be followed by a press...
President Biden delivers remarks on the September jobs report
(The stream is slated to start at 11:30 a.m. ET. Please refresh the page if you do not see a video above at that time.)President Joe Biden is slated to address the jobs report released Friday morning showing positive growth in the economy over the last month.Nonfarm...
Positive real rates are RBI’s best buffer, BFSI News, ET BFSI
Mumbai: Executives at the Reserve Bank of India (RBI) have rarely been this comfortable when developed nations' financial markets were in turmoil. Soaring yields, rising defaults, wobbly financial markets and troubled geopolitics are all around, but few ripples are...
RBI Monetary Policy Committee keeps repo rates unchanged to 6.50%, ET BFSI
RBI Monetary Policy October 2023: Reserve Bank of India (RBI) decided to keep the repo rates unchanged at the fourth Monetary Policy Committee meeting on Friday. The decision comes after three consecutive pauses by the six-member committee.The primary focus of the...
Ron DeSantis jabs former President Trump in White House race
Florida Governor Ron DeSantis went on the attack against Donald Trump in an interview with CNBC's "Squawk Box," saying the former president would be a "lame duck" if elected for a second term."He's got limitations in terms of his electability," DeSantis said Friday,...
RBI MPC maintains FY24 GDP projection at 6.5%, BFSI News, ET BFSI
The Reserve Bank of India's Monetary Policy Committee (MPC) on Friday that it expects India's GDP growth for FY24 to come in at 6.5%, in line with its previous predictions. "Risks are evenly balanced, with real GDP growth at 6.5% with Q2 at 6.5%, Q3 at 6% and Q4 at...
Trump endorses Jim Jordan of Ohio for House speaker
US President Donald Trump shakes hands with US Representative Jim Jordan, Republican of Ohio, as he disembarks from Air Force One upon arrival at Lima Allen County Airport in Lima, Ohio, March 20, 2019, as he travels to visit a military manufacturing facility and...
RBI leaves inflation projection for FY24 unchanged at 5.4%, but…, ET BFSI
India’s central bank today left its inflation forecast for this fiscal year unchanged at 5.4%, despite uneven monsoon showers and as outlook on food prices remain on edge amid a spike in global crude oil prices.The Reserve Bank of India's (RBI) Monetary Policy...
Bankers on RBI MPC decision, ET BFSI
The RBI MPC unanimously decided to keep the repo rate unchanged at 6.5 per cent with preparedness to act should the situation warrant. Meanwhile, the inflation forecast was revised upwards to 5.4 per cent from 5.1 per cent, earlier on the back of rising vegetable,...
RBI Governor, BFSI News, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das arrives to address a press conference on monetary policy statement, at the RBI headquarters in Mumbai. Governor Shaktikanta Das on Friday said the RBI does not see "any major problem" or any other worries with the...
Debt fund managers decode RBI policy for investors, BFSI News, ET BFSI
The Reserve Bank of India held its policy rates in its policy review on Friday. The central bank kept the Repo Rate unchanged at 6.5%, but it said the inflation scenario has to be watched closely. It also maintained the policy stance of ‘withdrawal the accommodation.’...
Gold loan limit hiked to Rs 4 lakh under bullet repayment for these banks: RBI, ET BFSI
The Reserve Bank of India (RBI) has increased the existing limit of gold loans under the bullet repayment scheme from Rs 2 lakh to Rs 4 lakh in certain urban co-operative banks. Those urban co-operative banks who have met the overall target and sub-targets under the...
Retail inflation to come down below 5% only in next fiscal, ET BFSI
RBI governor Shaktikanta Das.Reserve Bank of India (RBI) today projected that retail inflation would average 5.4 per cent in this fiscal and come down below 5 percent only in the next fiscal even as it warned of more persistent food prices. "CPI inflation is projected...
What is the rationale behind RBI MPC keeping repo rates unchanged for fourth time?, ET BFSI
For the fourth consecutive time, the six-member RBI MPC committee headed by Governor Shaktikanta Das decided to keep the repo rate unchanged at 6.50 per cent on Friday. This was quite an anticipated move, as the experts predicted that amid global bond yields, dollar...
Liquidity in the system is surplus, to take action as necessary: RBI, ET BFSI
The Reserve Bank of India (RBI) will actively manage liquidity as per the monetary policy stance and take action as necessary, Governor Shaktikanta Das said."Liquidity in the last two or three weeks went into the deficit mode mainly because of advance tax and GST...
Man with handgun seeking governor arrested in Wisconsin Capitol, returns with assault rifle
Wisconsin Gov. Tony Evers makes his acceptance speech on Nov. 9, 2022, in Madison, Wis., after winning the governorship election.Andy Manis | APA man illegally brought a handgun into the Wisconsin Capitol, demanding to see Gov. Tony Evers, and returned at night with...
RBI to issue omnibus framework for SRO recognition for REs, BFSI News, ET BFSI
It is important to recognise that regulations play an important role in evolution and change. In a significant move, the Reserve Bank of India announced that it would release an omnibus framework for recognising SROs for various Regulated Entities (REs) of the Reserve...
Nobel Peace 2023 awarded to Narges Mohammadi, Iranian human rights activist
Iranian opposition human rights activist Narges Mohammadi is shown in a file picture dated June 25, 2007.Behrouz Mehri | Afp | Getty ImagesThe Nobel Peace Prize was awarded on Friday to Iranian human rights activist Narges Mohammadi.Mohammadi received the prize for...
RBI MPC’s decision is like a Kapil Dev Policy, says Nilesh Shah of Kotak Mahindra AMC, ET BFSI
While economists and financial analysts are praising the Reserve Bank of India (RBI) for keeping the rates unchanged, the mutual fund veteran Nilesh Shah has said it's like a Kapil Dev policy.“The RBI Governor mentioned that the pitch is turning and we will play the...
Latest news on Russia and the war in Ukraine
U.S. condemns 'horrifying' Russian attack on Ukrainian village that killed 52 peopleEmergency workers search for victims of a Russian rocket attack in the village of Hroza near Kharkiv, Ukraine, on Oct. 5, 2023.Ukrainian Presidential Press Office via APThe Biden...
Top 10 announcements of October MPC Meet, BFSI News, ET BFSI
RBI MPC Highlights: The Reserve Bank of India (RBI) has identified high inflation as a major risk to macroeconomic stability and sustainable growth. After detailed assessment of the evolving financial developments, the six-member monetary policy committee (MPC) has...
RBI sees FY23 GDP growth at 6.5% on buoyant services, consumer confidence despite gloomy global outlook, ET BFSI
The Reserve Bank of India (RBI) has maintained its forecast for India's GDP growth projections at 6.5 per cent for FY24 despite global economic slowdown and high inflation.Real GDP growth for 2023-24 is projected at 6.5 per cent with Q2 at 6.5 per cent; Q3 at 6.0 per...
Trump may seek to pause $250 million New York business fraud trial
Former President Donald Trump sits in the courtroom for the third day of his civil fraud trial in New York, Oct. 4, 2023.Angela Weiss | AFP | Getty ImagesLawyers for Donald Trump may ask a New York appeals court to pause his ongoing $250 million business fraud trial...
Kaiser Permanente workers strike for second day over health-care staffing
Kaiser Permanente employees, joined by Union members representing the workers, walk the picket line in Los Angeles, California on October 4, 2023. Frederic J. Brown | AFP | Getty ImagesTens of thousands of Kaiser Permanente workers remained on strike Thursday for a...
Trump seeks dismissal of federal election interference case
Former U.S. President Donald Trump gestures at a Manhattan courthouse, where he attends the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, in New York City, U.S., October 2,...
Biden White House speeds additions to Trump border wall
U.S. President Joe Biden speaks with border patrol officers as he walks along the border fence during his visit to the U.S.-Mexico border to assess border enforcement operations, in El Paso, Texas, on Jan. 8, 2023.Kevin Lamarque | ReutersWASHINGTON — The Biden...
Woman pleads guilty in $1.6 million counterfeit savings bond scheme
Jetcityimage | Istock | Getty ImagesWASHINGTON — A woman pled guilty to helping process more than $1.6 million in counterfeit Treasury Department Series I savings bonds through financial institutions around the country, the U.S. Department of Justice announced...
EU says Europe cannot replace U.S. support to Ukraine
EU High Representative of the Union for Foreign Affairs and Security Policy Josep Borrell talks to the press as he arrives to attend the European Political Community summit at the Palacio de Congreso in Granada, southern Spain on October 5, 2023.Jorge Guerrero | Afp |...
George Santos former campaign treasurer to plead guilty in federal court
Rep. George Santos, R-N.Y., wearing a no shutdown button walks up the House steps for a vote in the Capitol on Thursday, September 28, 2023. Bill Clark | Cq-roll Call, Inc. | Getty ImagesThe former campaign treasurer to Rep. George Santos of New York will plead guilty...
Experts, BFSI News, ET BFSI
Kolkata, The RBI is expected to retain the benchmark rate of 6.5 per cent in its latest bi-monthly monetary policy review, amid inflation concerns and other global factors, experts said. RBI Governor Shaktikanta Das-headed Monetary Policy Committee (MPC) started its...
Bhashini to launch RBI’s platform for frictionless credit in multiple languages, ET BFSI
The Digital India Bhashini Division (DIBD) plans to launch the Reserve Bank of India's Public Tech Platform for Frictionless Credit in multiple languages to make financial services more accessible across languages.The DIBD will do this in collaboration with the...
RBI likely to hold rates as inflation persists, BFSI News, ET BFSI
MUMBAI: India’s central bank will likely keep its key interest rate unchanged Friday, maintaining its focus on inflation as oil prices surge and the Federal Reserve’s tightening puts pressure on the rupee. All 38 economists in a Bloomberg survey expect the Reserve...
Trump seeks classified documents trial delay over evidence
Walt Nauta, personal aide to former U.S. President Donald Trump who faces charges of being Trump's co-conspirator in the alleged mishandling of classified documents, fixes Trump's collar before a LIV Golf Pro-Am golf tournament at the Trump National Golf Club in...
RBI to look through transient spike in Inflation, BFSI News, ET BFSI
The upcoming Monetary Policy Committee meeting comes amidst challenges. CPI inflation in the last two months has shot up above RBI’s upper tolerance band of 6%. While India has recorded healthy GDP growth of 7.8% in Q1, there are concerns around growth moderating in...
RBI hand holds rupee in tight range despite global factors, BFSI News, ET BFSI
The Indian rupee closed little changed on Thursday as both weakness and subsequent recovery in the dollar index failed to budge the local unit out of the narrow trading range it has been stuck in this week.The Reserve Bank of India (RBI) has been intermittently...
Former Trump lawyer Rudy Giuliani sues Biden for defamation
Former Mayor of New York Rudy Giuliani speaks to reporters as he leaves his apartment building in New York on Aug. 23, 2023.Seth Wenig | APWASHINGTON — Rudy Giuliani sued President Joe Biden for defamation Wednesday, saying he lost clients and podcast listeners after...
RBI appoints Muneesh Kapur as new Executive Director, BFSI News, ET BFSI
The Reserve Bank of India on Wednesday said it has appointed Muneesh Kapur as the Executive Director (ED). Kapur will look after the Department of Economic and Policy Research and his appointment as ED is with effect from October 3, 2023, the RBI said in a statement....
Trump, Jordan, Scalise in the mix
Rep. Steve Scalise (R-LA) and Rep. Jim Jordan (R-OH) speak to reporters during a break in testimony from Lt. Col. Alexander Vindman, director for European Affairs at the National Security Council, as part of the U.S. House of Representatives impeachment inquiry into...
RBI likely to hold rates as inflation persists, BFSI News, ET BFSI
MUMBAI: India’s central bank will likely keep its key interest rate unchanged Friday, maintaining its focus on inflation as oil prices surge and the Federal Reserve’s tightening puts pressure on the rupee. All 38 economists in a Bloomberg survey expect the Reserve...
RBI constitutes 9-member panel, ET BFSI
The RBI had released the discussion paper on "Introduction of Expected Credit Loss Framework for Provisioning by Banks" on January 16, 2023.The Reserve Bank of India (RBI) on Wednesday constituted a nine-member committee to suggest, among other things, provisioning...
Latest news of Russia and the war in Ukraine
Russia plans naval base on Black Sea coast of breakaway Georgian regionRussia has signed a deal for a permanent naval base on the Black Sea coast of the breakaway Georgian region of Abkhazia, its leader was quoted on Thursday as saying by the Izvestiya newspaper, a...
Georgia man forfeits Ferrari, money for Medicare fraud
Exhibit from court record: 2018 Red Ferrari Spider.Source: U.S. DOJA Miami federal judge ordered a lab owner convicted of defrauding Medicare to forfeit more than $187 million worth of proceeds from the scam, including $30 million in cash, a 2018 Ferrari Spider and...
GOP boots Democrats from hideways after Kevin McCarthy ouster
Former House Speaker Nancy Pelosi and ex-Majority Leader Steny Hoyer walk from the House floor where members debate the United States-Mexico-Canada Agreement to the speaker's office in the U.S. Capitol in Washington, D.C., on Dec. 19, 2019.Sarah Silbiger | Getty...
Ex-president in court after judge issues gag order
Former U.S. President Donald Trump appears in the courtroom with his lawyers for his civil fraud trial at New York State Supreme Court on October 03, 2023 in New York City.Seth Wenig | Getty ImagesFormer President Donald Trump returned to a New York court for the...
Sen. Bob Menendez of New Jersey discusses possible re-election bid
US Senator Bob Menendez, Democrat of New Jersey, and his wife Nadine Arslanian, arrive at the US District Court, Southern District of New York, in New York City on September 27, 2023.Timothy A. Clary | AFP | Getty Images(Editors note: An earlier version of this...
San Francisco will say goodbye to Dianne Feinstein as her body lies in state at City Hall
Late Democratic U.S. Senator for California Dianne Feinstein's casket arrives at San Francisco’s City Hall, California, U.S., October 4, 2023. Carlos Barria | ReutersMourners will pay their respects Wednesday to the late U.S. Sen. Dianne Feinstein in San Francisco...
RBI likely helped rupee stem losses amid global bond rout, ET BFSI
The Indian rupee ended marginally lower on Wednesday amid a global bond rout, as likely dollar sales by the Reserve Bank of India (RBI) prevented a move towards record lows.The rupee closed at 83.24 against the U.S. dollar compared with a close at 83.2050 in the...
RBI’s rate-setting panel starts deliberations amid expectation of status quo, ET BFSI
Mumbai: RBI Governor Shaktikanta Das-headed Monetary Policy Committee (MPC) started its three-day meeting on Wednesday amid expectations of a status quo on the rate front in its bi-monthly monetary policy review. The policy review will be announced on Friday morning....
Health care workers strike at Kaiser Permanente
A Kaiser Permanente health care center is pictured in Anaheim, California, U.S., October 3, 2023 as more than 75,000 Kaiser Permanente healthcare workers could go on strike from Oct. 4 to Oct. 7 across the United States. Mike Blake | ReutersWorkers at Kaiser...
RBI’s rate-setting panel starts deliberations amid expectation of status quo, ET BFSI
Mumbai, RBI Governor Shaktikanta Das-headed Monetary Policy Committee (MPC) started its three-day meeting on Wednesday amid expectations of a status quo on the rate front in its bi-monthly monetary policy review. The policy review will be announced on Friday morning....
RBI may take OMO route for g-securities sales, BFSI News, ET BFSI
Mumbai: India's inclusion in the JP Morgan global bond index promises to do something unprecedented for India's sovereign debt market: Boost demand beyond the predicted supply. But the anticipated passive fund flows also pose a tricky liquidity-management problem for...
Butler sworn in to replace late California Sen. Feinstein, becoming third Black female senator in U.S. history
Former union leader and Democratic insider Laphonza Butler was sworn in as the newest member of the Senate on Tuesday, replacing California Sen. Dianne Feinstein after her death and becoming only the third Black female senator in history.Butler was appointed by...
Finance Ministry and IBBI at odds with RBI’s settlement policy with wilful defaulters, ET BFSI
The Ministry of Finance and the Insolvency and Bankruptcy Board of India (IBBI) are reportedly opposed to a recent circular issued by the Reserve Bank of India (RBI) that permits banks to engage in compromise settlements or technical write-offs for accounts...
America is top foreign policy actor in Middle East
The U.S. Ambassador to the United Arab Emirates Martina Strong believes the U.S. is unequivocally the most important foreign policy actor in the Middle East.Her comments come roughly one year after President Joe Biden threatened "consequences" for Saudi Arabia after...
RBI likely to stay pat on rates in monetary policy review as inflation remains a threat, ET BFSI
The Reserve Bank of India (RBI) is likely to keep its benchmark repo rate unchanged at 6.5 percent for the fourth consecutive time during the forthcoming meeting of the Monetary Policy Committee (MPC) scheduled from October 4 to 6. The credit policy will likely...
Repo rate to be left unchanged, but cautious tone likely amid inflation risks, ET BFSI
The three-day meeting of the Monetary Policy Committee of the Reserve Bank of India begins today, and at the end of this meeting, the central bank is widely expected to leave the repo rate unchanged at 6.50%. If done, this will be the fourth consecutive time the RBI...
Latest news on Russia and the war in Ukraine
UK says 'highly likely' Russia shot down own jet over occupied Tokmak U.K. intelligence suggests Russian air defense "highly likely" shot down one of its own Su-35S Flanker M multi-role combat jets over the Russian-occupied city of Tokmak in the Zaporizhzhia region,...
Biden reassures NATO, G7 of U.S. commitment to Ukraine
U.S. President Joe Biden holds a Cabinet meeting at the White House on October 02, 2023 in Washington, DC.Kevin Dietsch | Getty ImagesWASHINGTON — President Joe Biden convened a call with top U.S. allies Tuesday to stress the United States commitment to aiding Ukraine...
Former president blasts New York AG
Former US President Donald Trump speaks to members of the media while arriving for the second day of his civil fraud trial in New York on October 3, 2023.Kena Betancur | AFP | Getty ImagesFormer President Donald Trump on Tuesday blasted New York Attorney General...
House Speaker Kevin McCarthy to bring Gaetz motion to oust him to vote
U.S. House Speaker Kevin McCarthy, R-Calif., reacts to a reporter's question as he arrives for a House Republican conference meeting, where they are expected to discuss an attempt by Rep. Matt Gaetz, R-Fla., to oust him from the speakership, at the U.S. Capitol in...
Not guilty plea expected in Delaware
Hunter Biden, son of US President Joe Biden, arrives at Fort Lesley J. McNair in Washington, DC, on Tuesday, July 4, 2023.Ting Shen | Bloomberg | Getty ImagesHunter Biden is expected to plead not guilty Tuesday in Delaware federal to criminal charges related to having...
House Speaker McCarthy defends leadership, cites Gaetz personal issues
House Speaker Kevin McCarthy lashed out Tuesday against Rep. Matt Gaetz after the fellow Republican lawmaker moved to oust him as the leader of the chamber."Matt Gaetz had planned to do this from the very beginning," McCarthy said on CNBC's "Squawk Box.""He has...
Congress wonders if Biden, McCarthy struck Ukraine funding deal
U.S. Rep. Matt Gaetz, R-Fla., speaks with reporters as he departs after a series of failed votes on spending packages at the U.S. Capitol in Washington ahead of a looming government shutdown, Sept. 29, 2023.Jonathan Ernst | ReutersWASHINGTON — Congress and the rest of...
Sen. Bob Menendez bribery trial set for May 2024
U.S. Senator Robert Menendez is trailed by reporters after departing the Senate Democratic Caucus, following his arraignment on corruption charges, at the U.S. Capitol in Washington, D.C., on Sept. 28, 2023.Jonathan Ernst | ReutersA federal judge on Monday scheduled...
U.S. warned China to expect updated export curbs in October: Reuters
U.S. President Joe Biden makes a statement to the news media ahead of a cabinet meeting at the White House in Washington, U.S.Leah Millis | ReutersThe Biden administration warned Beijing of its plans to update rules that curb shipments of AI chips and chipmaking tools...
Inflation above its target, but RBI unlikely to change rates, BFSI News, ET BFSI
MUMBAI: The rate-setting committee of RBI is expected to keep interest rates unchanged in its meeting this week even though inflation is still above the upper limit of its target zone (2-6%), crude oil prices are nearing the triple-digit mark, and the rupee is close...
Latest news on Russia and the war in Ukraine
U.S. and Ukraine discuss battlefield situation, 'urgent' defense needsTop U.S. and Ukrainian officials discussed the situation on the battlefield and Ukraine's "urgent" defense needs on Monday.The head of Ukraine's presidential office, Andriy Yermak, and U.S. national...
Kaiser Permanente union workers poised to strike health provider
A sign is posted on the exterior of the Kaiser Permanente Vallejo Medical Center on September 08, 2023 in Vallejo, California.Justin Sullivan | Getty ImagesMore than 75,000 workers at the largest nonprofit private health-care provider in the United States are poised...
Supreme Court code of conduct urged by Sen. Dick Durbin
U.S. Supreme Court justices Amy Coney Barrett, Neil M. Gorsuch, Brett M. Kavanaugh, Ketanji Brown Jackson, Sonia Sotomayor, Clarence Thomas, Chief Justice John G. Roberts, Jr., Samuel A. Alito, Jr. and Elena Kagan pose for their group portrait at the Supreme Court in...
Clarence Thomas recuses as Supreme Court rejects appeal by Trump lawyer
Associate Justice Clarence Thomas during the formal group photograph at the Supreme Court in Washington, DC, US, on Friday, Oct. 7, 2022.Eric Lee | Bloomberg | Getty ImagesWASHINGTON — The Supreme Court on Monday refused to take an appeal by former Trump lawyer John...
Trump fraud trial to kick off in New York court
Former U.S. President Donald Trump disembarks his plane "Trump Force One" at Aberdeen Airport on May 1, 2023 in Aberdeen, Scotland. Jeff J Mitchell | Getty ImagesThe $250 million civil fraud trial that could see former President Donald Trump permanently banned from...
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. Investors look for October reboundInvestors are hoping this month ends up better than the last one. The first trading week of October starts after U.S. equities saw their worst...
Latest news on Russia and the war in Ukraine
Ukraine puts on a brave face on U.S. aid despite potential government shutdownUkraine is trying to be optimistic in the face of a potential U.S. government shutdown and pause on additional funding for Kyiv.Congress passed a stopgap bill on Saturday that extended...
Reserve Bank to retain benchmark rate at 6.5 pc at ensuing monetary policy review meeting: Experts, ET BFSI
Mumbai, Interest rates for retail, as well as corporate borrowers, may remain stable as experts expect the Reserve Bank to retain the benchmark rate at 6.5 per cent at its forthcoming bi-monthly monetary policy review, scheduled later this week, in view of elevated...
Matt Gaetz says he will move to oust Kevin McCarthy ‘this week’
Speaker of the House Kevin McCarthy, R-Calif., conducts a news conference in the U.S. Capitol on border security, government funding, and other issues, on Friday, September 29, 2023. Anna Moneymaker | Getty ImagesRepublican Rep. Matt Gaetz of Florida on Sunday said he...
RBI extends deadline to exchange Rs 2000 banknotes to Oct 7, ET BFSI
In a much anticipated move, the Reserve Bank of India has extended the deadline to exchange and deposit Rs 2000 notes to October 7, 2023.“As the period specified for the withdrawal process has come to an end, and based on a review, it has been decided to extend the...
Last date to exchange Rs 2000 bank notes extended, BFSI News, ET BFSI
The Reserve Bank of India has extended the deadline to exchange, deposit Rs 2000 notes to October 7, 2023 from September 30, 2023.As per an RBI press release dated September 30, 2023: As the period specified for the withdrawal process has come to an end, and based on...
Government shutdown live updates: Congress faces funding deadline
2 million servicemembers and more than 1.5 million federal civilian employees will go without a paycheck during shutdownA general view of the U.S. Capitol, where Congress will return Tuesday to deal with a series of spending bills before funding runs out and triggers...
RBI to maintain rates, real estate sector to be disappointed, BFSI News, ET BFSI
Chennai, Only an unforeseen and sustained increase in inflation may compel the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) to revise upwards the repo rate, said the Chief Economist at Anand Rathi Shares and Stock Brokers.He also added that not in the...
Congress tees up votes in last-minute scramble to avert shutdown
A general view of the U.S. Capitol, where Congress will return to deal with a series of spending bills before funding runs out and triggers a partial U.S. government shutdown, in Washington, September 25, 2023.Jonathan Ernst | ReutersLawmakers return to Congress on...
RBI in dialogue with other central banks to reduce cost of cross border remittances, ET BFSI
The Reserve Bank of India has initiated dialogues with countries having sizable Indian diaspora to bring down cost of remittances, deputy governor T Rabi Sankar said.According to the World Bank, the average cost of cross border remittance is about 6.2% of the value of...
RBI reviews flow of credit to MSME sector, BFSI News, ET BFSI
Mumbai, The RBI's Standing Advisory Committee (SAC) reviewed the flow of credit to Micro, Small and Medium Enterprises on Friday at its meeting held in Lucknow, a central bank said in a release. The 28th meeting of SAC was chaired by RBI Deputy Governor Swaminathan J,...
Trump Georgia election case defendant pleads guilty
Republican poll watcher Scott Hall is shown in a police booking mugshot released by the Fulton County Sheriff's Office, after a grand jury brought back indictments against former U.S. President Donald Trump and 18 of his allies in their attempt to overturn the state's...
Net claims of non-residents on India rise to USD 379.7 billion in June quarter: RBI, ET BFSI
Net claims of non-residents on India increased USD 12.1 billion to USD 379.7 billion in the June quarter on account of higher rise in foreign-owned financial assets, according to RBI data released on Thursday. Increase in reserve assets, at USD 16.6 billion, was the...
White House says far-right Republicans to blame for shutdown threat
Shalanda Young, Director of the Office of Management and Budget, speaks to the media during the daily press briefing at the White House in Washington, U.S., September 29, 2023.Evelyn Hockstein | ReutersWASHINGTON — White House officials blasted far-right House...
Trump blasts New York civil fraud trial to raise election cash
Former U.S. President Donald Trump speaks at a campaign rally at Drake Enterprises, an automotive parts manufacturer, on September 27, 2023 in Clinton Township, Michigan.Scott Olson | Getty ImagesDonald Trump on Friday blasted his upcoming New York civil fraud trial...
Top U.S. general Mark Milley to hand over reins after four years
Retiring Chairman of the Joints Chiefs of Staff, Army General Mark Milley (L), greets incoming Chairman, Air Force General Charles Brown, during the Armed Forces Farewell Tribute in honor of Milley, at Joint Base Myer-Henderson Hall in Arlington, Virginia, on...
U.S. bank CEOs to face Senate Banking Committee hearing
Chairman Sherrod Brown (D-OH) questions Treasury Secretary Janet Yellen and Federal Reserve Chairman Powell during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act, at the Hart Senate Office Building in Washington, DC, September 28,...
Government shutdown fear grows as McCarthy lays out partisan vote plan
U.S. House Speaker Kevin McCarthy (R-CA) speaks during a press briefing about a looming shutdown of the U.S. government at the U.S. Capitol in Washington, U.S. September 29, 2023. Jonathan Ernst | ReutersWASHINGTON — With fewer than two days left to fund the federal...
Bank of England tells lenders to watch more closely for risky borrowers, ET BFSI
The Bank of England wrote to lenders on Friday to urge them not to underestimate the risk of loan defaults as higher inflation and increased interest rates hit more vulnerable borrowers.In a letter to chief financial officers at financial institutions supervised by...
Dianne Feinstein, California’s longest-serving senator, dies at 90
U.S. Sen. Dianne Feinstein of California has died at age 90, two sources familiar with the matter told NBC News on Friday.Feinstein, a Democrat, was the oldest member of the Senate. She had the longest tenure of any woman in the chamber, and any senator from...
Latest news on Russia and the war in Ukraine
Putin meets with former Wagner commander to discuss creation of volunteer unitsA fighter from Russian Wagner mercenary group conducts training for Belarusian soldiers on a range near the town of Osipovichi, Belarus July 14, 2023 in this still image taken from handout...
Georgia Republicans suspend state senator Colton Moore
Members of the Atlanta Young Republicans attend a watch party of the first Republican Presidential primary debate at a bar in Atlanta, Georgia on August 23, 2023.Chandan Khanna | Afp | Getty ImagesGeorgia's Republican Senate Caucus is suspending a GOP state senator...
Trump NY fraud trial cleared to start Monday after appeals ruling
Former U.S. President and Republican presidential candidate Donald Trump looks on on the day he addresses auto workers as he skips the second GOP debate, in Clinton Township, Michigan, September 27, 2023.Rebecca Cook | ReutersThe New York civil fraud trial of former...
Biden to deliver speech in Arizona on democracy, Sen. John McCain
U.S. President Joe Biden attends the Congressional Black Caucus Foundation Phoenix Awards Dinner at the Walter E. Washington Convention Center in Washington, U.S., September 23, 2023. Elizabeth Frantz | ReutersPresident Joe Biden is set to deliver a speech Thursday in...
Bob Menendez to speak to Senate Democrats amid calls to resign
Senator Bob Menendez and his wife Nadine Menendez (not seen) depart a Manhattan court after they were arraigned on federal bribery charges in New York, September 27, 2023.Fatih Aktas | Anadolu Agency | Getty ImagesSen. Bob Menendez of New Jersey plans to speak...
Trump and his adult children expected to be called to testify in New York fraud trial
In this April, 2010 file photo, Donald Trump, left, chairman and CEO of the Trump Organization, cuts the ribbon with his children Eric, Ivanka, and Donald Trump, Jr. right, at the opening of the Trump SoHo New York.Mark Lennihan | APNew York Attorney General Letitia...
Trump ally Kari Lake to run for Senate in Arizona against Sinema
Arizona republican candidate for governor Kari Lake greets the audience during a stop on the Truth and Courage PAC's Take Back America Bus Tour with U.S. Senator Ted Cruz (R-TX), ahead of the midterm elections, at San Tan Flat in Queen Creek, Arizona, U.S., October 5,...
Net claims of non-residents on India rise to USD 379.7 billion in June quarter: RBI, ET BFSI
Net claims of non-residents on India increased USD 12.1 billion to USD 379.7 billion in the June quarter on account of higher rise in foreign-owned financial assets, according to RBI data released on Thursday. Increase in reserve assets, at USD 16.6 billion, was the...
Speaker McCarthy says House will get bill done to avoid shutdown
Speaker of the House Kevin McCarthy, R-Calif., talks with reporters about a possible government shutdown, border security, and other issues, outside his U.S. Capitol office on Tuesday, September 26, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesHouse Speaker...
RBI, BFSI News, ET BFSI
Mumbai, India's external debt rose marginally to USD 629.1 billion at June-end 2023, although the debt-GDP ratio declined, according to a Reserve Bank data released on Thursday. The debt rose by about USD 4.7 billion from USD 624.3 billion at March-end. "The external...
2023-24, BFSI News, ET BFSI
MUMBAI: The Reserve Bank of India (RBI) has released preliminary data on India's Balance of Payments (BoP) for the first quarter (Q1) of the fiscal year 2023-24, covering the period from April to June. The data reveals significant developments and trends in India's...
India’s current account deficit widens to $9.2 bn, 1.1% of GDP for Q1FY24, ET BFSI
India’s current account deficit (CAD) widened sequentially to $9.2 billion or 1.1% of the gross domestic product (GDP) compared to $1.3 billion in Q4 FY23 (0.2% of GDP) for the quarter ending in June 2023 (Q1FY24). For the year-ago period, CAD was $17.9 billion, or...
Trump loses bid to recuse judge from Washington, D.C., election case
Courtroom sketch depicting Judge Tanya Chutkan in an exchange with Donald Trump's lawyers. Former President Donald Trump on Wednesday lost a bid to have a federal judge remove herself from presiding over his criminal election-interference case in Washington, D.C.,...
Haley and Ramaswamy clash as Trump courts auto workers
Trump campaign pans 'boring' second debate that ex-president skippedThe Trump campaign trashed the second Republican debate, which Trump skipped and attempted to counter-program with a competing campaign event."Tonight's GOP debate was as boring and inconsequential as...
RBI, CCIL may extend trade time for overseas players, ET BFSI
Mumbai: The Reserve Bank of India (RBI) and domestic clearing authorities could consider requests from global investors for steps such as an extended reporting window for overseas players as inclusion in global bond indices is expected to draw more international funds...
Latest news on Russia and the war in Ukraine
Ukraine needs more means to destroy Russian missiles, drones and aircraft, Kyiv saysUkraine's President Volodymyr Zelenskyy told international partners that its armed forces need more weaponry in his nightly address Wednesday."Our warriors need more means of...
Government securities, forex market to remain operational on Thursday, Friday: RBI, ET BFSI
MUMBAI: Government securities, foreign exchange, money and rupee interest rate derivatives markets will remain open on Thursday and Friday, according to the Reserve Bank of India.The Maharashtra government has declared September 29 as a public holiday under Section 25...
Sen. Tuberville says military not equal opportunity employer
Sen. Tommy Tuberville, R-Ala.,speaks to reporters outside the Senate chamber in the Capitol on Thursday, July 13, 2023.Bill Clark | Cq-roll Call, Inc. | Getty ImagesWASHINGTON — Sen. Tommy Tuberville, the Alabama Republican and former football coach, said Tuesday that...
Sen. Bob Menendez pleads not guilty to pocketing bribes in a wide-ranging corruption case
U.S. Sen. Bob Menendez of New Jersey pleaded not guilty on Wednesday to federal charges accusing him of pocketing bribes of cash and gold bars in exchange for wielding his political influence to secretly advance Egyptian interests and do favors for local...
Pressure is on McCarthy, Dem blames ‘infighting’
WASHINGTON — Bipartisan lawmakers on Monday weighed in on a possible government shutdown, as pressure builds on House Speaker Kevin McCarthy to get something passed with less than a week before the deadline.The House speaker "has been able to deliver in a very...
Ron DeSantis, Gavin Newsom to debate on Fox News; Hannity moderates
Florida Gov. Ron DeSantis, a Republican presidential candidate, left, and Democratic Gov. Gavin Newsom of CaliforniaReutersRepublican Gov. Ron DeSantis of Florida and Democratic Gov. Gavin Newsom of California are set to debate on Fox News in November in what is being...
Tim Scott super PAC picks billionaire tech exec to be finance chair
U.S. Senator and Republican presidential candidate Tim Scott, R-S.C., speaks at Erick Erickson's conservative political conference The Gathering in Atlanta on Aug. 18, 2023.Cheney Orr | ReutersA super PAC supporting Republican Sen. Tim Scott's campaign for president...
Ex-ambassador says dark horse may beat Trump
A growing legal headache for early frontrunner Donald Trump could pave the way for a "dark horse" Republican presidential candidate to win the backing of the party in the race for the White House. That's the view of one former U.S. ambassador ahead of the Republican...
Miami man pleads guilty to selling misbranded HIV drugs
A Miami man has pleaded guilty in federal court to distributing adulterated HIV drugs dispensed to U.S. patients.Miami Herald | Tribune News Service | Getty ImagesA Miami man pleaded guilty to distributing as much as $25 million worth of misbranded and adulterated HIV...
Biden stands with striking UAW autoworkers in Michigan: ‘Stick with it’
President Joe Biden joined United Auto Workers members Tuesday on the picket line outside Detroit and urged strikers to continue their fight for new contracts."The fact of the matter is you guys, the UAW, you saved the auto industry back in 2008 and before, you made a...
Senate introduces a bipartisan bill to keep the government open through Nov. 17
From left, Senate Majority Leader Chuck Schumer, D-N.Y., and Senate Minority Leader Mitch McConnell, R-Ky.Bill Clark | CQ-Roll Call, Inc. | Getty ImagesSenate leaders released a short-term funding bill Tuesday — with four days left to avert a government shutdown at...
Trump and company liable for fraud in New York lawsuit, judge rules
A judge on Tuesday ruled that Donald Trump and his company are liable for fraud by misstating the true values of multiple real estate properties for years and thus grossly overstating the former president's net worth by billions of dollars.Judge Arthur Engoron in his...
Latest news on Russia and the war in Ukraine
Russia's proof that naval commander is alive is questionedMystery is still swirling around the fate of Russia's Black Sea Fleet commander after Ukraine said he had been killed in a strike on Russia's naval headquarters, but a video was published Tuesday appearing to...
RBI sets Oct-March WMA limit at Rs 50,000 crore, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India has fixed the limit for Ways and Means Advances (WMA) - a temporary lending facility for the government for the second half of the financial year 2023-24 - Oct-Mar- at ₹50,000 crore. The central bank triggers fresh flotation of market...
Sen. Bob Menendez donors keep backing New Jersey lawmaker
Many of the top financial donors to U.S. Sen. Bob Menendez will not say whether they will continue supporting his campaign in the face of a scathing federal bribery indictment against the New Jersey Democrat.Just one out of the more than a dozen major political action...
Biden visit to UAW picket line not influenced by Trump’s
U.S. President Joe Biden hosts a summit with Pacific islands leaders at the White House in Washington, D.C., Sept. 25, 2023.Leah Millis | ReutersWASHINGTON — President Joe Biden's decision to join striking United Auto Workers in Detroit, Michigan, on Tuesday was not...
Biden asks Congress to fund government, Wells Fargo warns on shutdown
U.S. President Joe Biden speaks during an event announcing a new White House Office of Gun Violence Prevention, in the Rose Garden of the White House in Washington, U.S. September 22, 2023. Jonathan Ernst | ReutersWASHINGTON — President Joe Biden on Tuesday asked...
Former OPM employee sentenced to 2 years probation
The scene from outside the U.S. Office of Personnel Management in Washington, D.C., on May 21, 2019.Sarah Silbiger | The Washington Post | Getty ImagesWASHINGTON — A former employee of the U.S. Office of Personnel Management was sentenced to two years probation for...
Menendez pushed to resign by growing number of Democrats
U.S. Senator Robert Menendez (D-NJ) delivers remarks, after he and his wife Nadine Menendez were indicted on bribery offenses in connection with their corrupt relationship with three New Jersey businessmen, in Union City, New Jersey, U.S., September 25, 2023. Mike...
Trump blasts special counsel gag order bid in January 6 election case
Former U.S. President and Republican presidential candidate Donald Trump delivers a speech at the Concerned Women for America Legislative Action Committee's (CWALAC) 2023 Leadership Summit in Washington, U.S., September 15, 2023. Leah Millis | ReutersAttorneys for...
JPMorgan to settle Jeffrey Epstein suit by Virgin Islands
Jeffrey Epstein and Ghislaine Maxwell attend de Grisogono Sponsors The 2005 Wall Street Concert Series Benefitting Wall Street Rising, with a Performance by Rod Stewart at Cipriani Wall Street on March 15, 2005 in New York City.Joe Schildhorn | Patrick McMullan |...
Thousands flee as Armenia warns of ethnic cleansing
Armenian police officers walks near refugees as they queue in vehicles near the border town of Kornidzor, arriving from Nagorno-Karabakh, on September 26, 2023.Alain Jocard | Afp | Getty ImagesThousands of ethnic Armenians on Tuesday fled their homes in the breakaway...
What information about borrowers RBI asks to display under Sarfaesi Act?, ET BFSI
Information in respect of the borrowers whose secured assets have been taken into possession by the REs under the SARFAESI Act, 2002 needs to be displayed, Reserve Bank of India instructed. This information will be helpful for potential buyers who want to buy assets...
Trump Georgia election jurors names to be kept secret at trial
Fulton County Superior Judge Scott McAfee hears motions from attorneys representing Kenneth Chesebro and Sidney Powell in Atlanta on Sept. 6, 2023.Pool | Via ReutersThe identities of jurors for the Georgia election interference case of former President Donald Trump...
Hunter Biden sues former Trump lawyer Rudy Giuliani over laptop
Hunter Biden, son of U.S. President Joe Biden, departs federal court after a plea hearing on two misdemeanor charges of willfully failing to pay income taxes in Wilmington, Delaware, July 26, 2023.Jonathan Ernst | ReutersHunter Biden on Tuesday sued former Trump...
Fetterman to return Sen. Bob Menendez donation with cash
Sen. John Fetterman, D-Pa., arrives for Ukraine President Volodymyr Zelenskyy's meeting with U.S. senators in the Capitol, Sept. 21, 2023.Bill Clark | Cq-roll Call, Inc. | Getty ImagesSen. John Fetterman, D-Pa., will return $5,000 in contributions from a political...
Trump, Paul Gosar suggest Gen. Mark Milley deserves death
Gen. Mark Milley arrives at the fifth meeting of the Ukraine Contact Group at the U.S. Ramstein Air Base in Germany, Sept. 19, 2023.Boris Roessler | Picture Alliance | Getty ImagesWASHINGTON — Former President Donald Trump and Republican Rep. Paul Gosar of Arizona...
Biden administration blacklists China firms for Moscow, Tehran drone links
A broken window is seen after Russia launched 33 drones into the direction of Kyiv region, Ukraine on September 10, 2023. In a separate statement, the Ukrainian Air Force said that Russia sent 33 Shahed unmanned aerial vehicles (UAVs) toward Kyiv and Ukrainian forces...
Government approves one-year extension to RBI Deputy Governor Rajeshwar Rao, ET BFSI
The government on Monday extended the term of RBI Deputy Governor M Rajeshwar Rao for a period of one year, according to sources. The Appointments Committee of the Cabinet has approved the re-appointment of M Rajeshwar Rao, Deputy Governor Reserve Bank of India, for a...
Latest news on Russia and the war in Ukraine
No comment from Moscow after Ukraine says Russia's Black Sea Fleet commander killedRussia has remained tight-lipped about Ukraine's claim to have killed the commander of the Black Sea Fleet in a missile strike on its headquarters in Sevastopol, Crimea, last Friday.The...
Protecting depositor money sacred duty for a banker, more imp than praying at temple or gurdwara: Das, ET BFSI
Mumbai, Protecting depositors' hard-earned money is a sacred duty for a banker, and more important than visiting a religious place, according to RBI Governor Shaktikanta Das. He said the task is more important because the entire banking system runs on deposits, which...
Trump buys Glock gun at South Carolina campaign event
Former US President and 2024 Presidential hopeful Donald Trump delivers remarks at a Team Trump Iowa Commit to Caucus event in Maquoketa, Iowa, on September 20, 2023. Kamil Krzaczynski | Afp | Getty ImagesFormer President Donald Trump said he was buying a Glock...
Sen. Bob Menendez speaks in New Jersey bribery indictment
This stream starts at 11:30 a.m. ET. Please refresh your browser if it does not show up.WASHINGTON — Sen. Bob Menendez of New Jersey is set to hold a press conference Monday following mounting calls for him to resign.Menendez and his wife were indicted on federal...
Sen. Bob Menendez explains case in New Jersey bribery raid
U.S. Senator Robert Menendez (D-NJ) delivers remarks, after he and his wife Nadine Menendez were indicted on bribery offenses in connection with their corrupt relationship with three New Jersey businessmen, in Union City, New Jersey, U.S., September 25, 2023.Mike...
Hunter Biden prosecutor can testify to House GOP panel
U.S. Attorney David Weiss speaks during a press conference on May 3, 2018, at his district office in Wilmington, Del.Suchat Pederson | The News Journal | APThe Department of Justice said that David Weiss — the special counsel prosecuting Hunter Biden — in the "near...
RBI ‘not comfortable’ with NPAs in urban co-op banks, asks lenders to focus on governance, ET BFSI
RBI Governor Shaktikanta Das on Monday said the central bank is "not comfortable" with the gross non-performing assets ratio of 8.7 per cent in urban cooperative banks (UCBs) and asked them to work towards improving the same. Addressing directors of UCBs in the...
RBI found excessive dominance by 1-2 board members even in big commercial banks: Das, ET BFSI
Reserve Bank Governor Shaktikanta Das on Monday said the central bank has noticed "excessive dominance" by one or two board members even in "big commercial banks" and asked the lenders to desist from such practices. Board discussions have to be free, fair and...
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. Cloudy days in September2. Shutdown threat loomsCongress enters the week with no clear path toward passing a spending bill by a Saturday deadline and preventing a lapse in...
Explainer I How RBI’s proposed revised norms can tighten screws on wilful defaulters, ET BFSI
These changes aim to enhance accountability in the lending process and have significant implications for India's banking sector.The Reserve Bank of India (RBI) has recently proposed revised norms for classifying borrowers as "wilful defaulters." These new guidelines...
New Jersey Sen. Bob Menendez hires Hunter Biden lawyer for bribery case
U.S. Senator Robert Menendez (D-NJ) walks to the Senate floor for a procedural vote at the U.S. Capitol in Washington, U.S. September 20, 2023. Jonathan Ernst | ReutersNew Jersey Sen. Bob Menendez has tapped Abbe Lowell, the same attorney defending Hunter Biden...
RBI likely to keep interest rate unchanged as inflation still high: Experts, ET BFSI
The Reserve Bank is likely to maintain status quo on policy rates for the fourth time in a row at its bi-monthly monetary policy review meeting early next month, as retail inflation continues to remain high and the US Federal Reserve has decided to keep a hawkish...
Expect status quo by RBI in October policy meeting: SBI Research, ET BFSI
NEW DELHI: The monetary policy committee of the Reserve Bank of India (RBI) is expected to yet again pause the key repo rate at its next bi-monthly review scheduled in the first week of October, according to SBI Research.The meeting is scheduled for October 4-6. RBI...
Latest news on Russia and the war in Ukraine
Ukraine's September grain exports down 51%, ministry says Ukrainian grain exports over Sept. 1-24 totalled 1.57 million metric tons, down sharply from the 3.21 million tons in the corresponding period last year, agriculture ministry data showed on Monday.The ministry...
RBI may let wilful defaulters shed label after settlement, BFSI News, ET BFSI
MUMBAI: An RBI circular that requires lenders to take a quick call on classifying wilful defaulters will also allow borrowers to shake off the tag by entering into a compromise settlement with banks. In June 2023, the central bank, in its circular on compromise...
Congress remains divided on budget negotiations as shutdown looms
U.S. House Speaker Kevin McCarthy (R-CA) speaks with reporters as he arrives for the day at the U.S. Capitol in Washington, U.S. September 18, 2023. Jonathan Ernst | ReutersLawmakers over the weekend expressed few signs of movement on a budget resolution that would...
RBI issues new prudential regulations for All India Financial Institutions, ET BFSI
The final directions have been issued after careful consideration, taking into account the feedback received from stakeholders.The Reserve Bank of India (RBI) has announced the issuance of the Reserve Bank of India (Prudential Regulations on Basel III Capital...
Prosecutors hold press conference on Menendez indictment
The U.S. Attorney's office for the Southern District of New York is holding a press conference to announce an indictment against U.S. Sen. Bob Menendez of New Jersey and his wife.Menendez and his wife were charged Friday with three counts of conspiracy to commit...
Over 75,000 Kaiser Permanente workers threaten strike
Thousands of healthcare workers march down Vermont to call for the urgent need for improved working conditions, better support systems and increased investment in the healthcare workforce at Kaiser Permanente Los Angeles Medical Center in Hollywood on Monday, Sept. 4,...
Biden will travel to Michigan to ‘join the picket line’
U.S. President Joe Biden speaks during an event announcing a new White House Office of Gun Violence Prevention, in the Rose Garden of the White House in Washington, September 22, 2023.Jonathan Ernst | ReutersPresident Joe Biden on Friday said he will visit Michigan...
How will RBI’s revised norms on investment portfolios impact banks?, ET BFSI
These revisions, set to take effect from April 2024, impact key aspects such as classification principles, tighter regulations on transfers, inclusion of non-SLR securities, and the symmetric treatment of gains and lossesIn a move to enhance transparency and align...
New Jersey governor demands Sen. Bob Menendez resign
WASHINGTON — New Jersey Gov. Phil Murphy, the state's General Assembly speaker and the Democratic State Committee chairman all called on U.S. Sen. Bob Menendez to resign Friday after their fellow Democrat was indicted on federal bribery charges."The allegations in the...
RBI issues new prudential regulations for All India Financial Institutions, ET BFSI
The Reserve Bank of India (RBI) on Thursday announced the issuance of the Reserve Bank of India (Prudential Regulations on Basel III Capital Framework, Exposure Norms, Significant Investments, Classification, Valuation and Operation of Investment Portfolio Norms and...
SEC fines Goldman Sachs over inaccurate trading information
Sopa Images | Lightrocket | Getty ImagesWASHINGTON — The U.S. Securities and Exchange Commission on Friday announced a $6 million penalty against Goldman Sachs for providing incomplete and inaccurate trading information to the regulator.The banking giant made more...
Shawn Fain invites Joe Biden to join picket line
Shawn Fain, president of the United Auto Workers, speaks to the crowd during a UAW rally in Detroit, on Sept. 15, 2023.Emily Elconin | Bloomberg | Getty ImagesUnited Auto Workers President Shawn Fain on Friday invited President Joe Biden to join the picket line as...
Sen. Menendez defiant after second corruption indictment
Sen. Bob Menendez, D-N.J., walks through the Senate subway on his way to a vote in the Capitol on Thurssday, May 4, 2023. (Bill Clark/CQ-Roll Call, Inc via Getty Images)Bill Clark | Cq-roll Call, Inc. | Getty ImagesWASHINGTON — Sen. Robert Menendez on Friday vowed to...
SEC slaps Citadel with $7 million fine to settle short selling charges
Citadel founder and CEO Kenneth Griffin.Andrew Harrer | Bloomberg | Getty ImagesWASHINGTON — The U.S. Securities and Exchange Commission fined Citadel Securities, an investment management firm, $7 million for settling charges of violating order marking requirements,...
Tim Scott faces labor complaint over firing comments
Ranking member Sen. Tim Scott (R-SC) speaks during a hearing with the Senate Banking, Housing, and Urban Affairs committee on Capitol Hill on September 07, 2023 in Washington, DC.Anna Moneymaker | Getty ImagesThe United Auto Workers has filed a labor complaint against...
Sen. Bob Menendez of New Jersey, wife charged with bribery
U.S. Senator Robert Menendez (D-NJ) questions Zalmay Khalilzad, special envoy for Afghanistan Reconciliation, during a Senate Foreign Relations Committee hearing on Capitol Hill in Washington, April 27, 2021.Susan Walsh | Pool | ReutersU.S. Sen. Bob Menendez of New...
Pro-Trump lawyer Chesebro seeks to bar emails in Georgia election case
Former U.S. President Donald Trump's campaign attorney Kenneth Chesebro is shown in a police booking mugshot released by the Fulton County Sheriff's Office, Atlanta, Aug. 23, 2023.Source: Fulton County Sheriff's OfficeLawyers for a co-defendant of former President...
Azerbaijan and Armenia clash over enclave
A protestor speaks with Armenian police officers as they guard the entrance to the Government House during a rally in Yerevan on September 21, 2023, following Azerbaijani military operations against Armenian separatist forces in Nagorno-Karabakh.Karen Minasyan | Afp |...
FTC sues Texas anesthesiology provider to bust monopoly
Federal Trade Commission Chair Lina Khan testifies before a House Judiciary Committee hearing on Oversight of the Federal Trade Commission, on Capitol Hill in Washington, D.C., July 13, 2023.Kevin Wurm | ReutersThe Federal Trade Commission on Thursday sued the largest...
Pence trashes Trump tax plan, says tariffs would worsen inflation
Republican presidential candidate, former Vice President Mike Pence speaks at the Pray Vote Stand Summit at the Omni Shoreham Hotel on September 15, 2023 in Washington, DC.Anna Moneymaker | Getty ImagesFormer Vice President Mike Pence on Thursday dumped on Donald...
What are your rights as a borrower?, ET BFSI
Aparna Ramachandra, Founder Director, rectifycredit.com, says the RBI directive has made clear that after closing a loan, if the bank does not return the papers in 30 days, they will have to start paying the fine. Also, if banks have misplaced or damaged the documents...
Latest news on Russia and the war in Ukraine
Zelenskyy visits Canada after challenges on U.S. tripUkrainian President Volodymyr Zelenskyy is making his first trip to Canada on Friday, where he will meet Prime Minister Justin Trudeau and address Parliament. The trip is expected to be easier than his visit to the...
RBI proposes changes in wilful defaulter norms, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has proposed a transparent mechanism for declaring a borrower a wilful defaulter. It's also expanding the definition and is planning to make it harder for such defaulters to secure funding for future ventures.The move follows a Supreme...
Dave McCormick set for Pennsylvania Senate run fundraising
A month before Dave McCormick's expected announcement Thursday for his second run for a U.S. Senate seat from Pennsylvania, he was the guest of honor at a party hosted by fashion designer Tory Burch at her massive Hamptons estate, according to several...
JPMorgan legal fees in Jeffrey Epstein sex traffick cases revealed
Jeffrey Epstein in Cambridge, MA in 1984.Rick Friedman | Corbis News | Getty ImagesJPMorgan Chase has racked up nearly $14 million in legal fees defending itself against two lawsuits alleging it abetted the sex trafficking by its longtime customer Jeffrey Epstein,...
Zelenskyy makes his case at the U.S. Capitol for more war aid as Republican support softens
Ukrainian President Volodymyr Zelenskyy returned to Washington on Thursday for a whirlwind one-day visit, this time to face the Republicans now questioning the flow of American dollars that for 19 months has kept his troops in the fight against Russian...
Florida nurse practitioner convicted in $200 million Medicare fraud
Michael Nesterov | Istock | Getty ImagesA federal jury in Miami convicted a Florida nurse practitioner of health-care conspiracy and other charges for playing a key role in a scheme that swindled hundreds of millions of dollars from Medicare.Elizabeth Hernandez, 45,...
House Speaker McCarthy squeezed in government shutdown fight
U.S. Speaker of the House Kevin McCarthy (R-CA) makes his way to a Republican caucus meeting at the U.S. Capitol Building on September 20, 2023 in Washington, DC.Kevin Dietsch | Getty ImagesWASHINGTON — House Speaker Kevin McCarthy failed a crucial test Thursday of...
Ukraine leader Zelenskyy to meet with Biden, Congress
Ukraine's President Volodymyr Zelenskyy listens to U.S. President Joe Biden address the 78th Session of the U.N. General Assembly in New York City, September 19, 2023.Caitlin Ochs | ReutersWASHINGTON — President Joe Biden will welcome Ukrainian President Volodymyr...
RBI to banks, BFSI News, ET BFSI
Mumbai, RBI deputy governor Swaminathan J on Thursday asked top management of banks and other financial sector entities to focus on a customer-centric approach to strengthen the confidence of people in the banking system. The deputy governor held a meeting with heads...
Florida nurse convicted in $200 million Medicare fraud
Michael Nesterov | Istock | Getty ImagesA federal jury in Miami convicted a Florida nurse practitioner of heath-care conspiracy and other charges for playing a key role in a scheme that swindled hundreds of millions of dollars from Medicare.Elizabeth Hernandez, 45,...
RBI proposes lenders identify ‘wilful defaulters’ within six months, ET BFSI
MUMBAI - The Reserve Bank of India on Thursday proposed that lenders should label defaulting borrowers as "wilful defaulters" within six months of an account turning non-performing.The central bank identifies "wilful defaulters" as those who have the ability to pay a...
Former Indiana congressman sentenced to 22 months in prison for insider trading convictions
Steve Buyer, 64, of Noblesville, Indiana, was convicted by a jury in Manhattan federal court in March of four securities fraud charges after a two-week trial for stock trades he made while working as a consultant and lobbyist after he finished serving in Congress from...
Governors, Biden administration push to quadruple efficient heating, AC units by 2030
A group of 25 state governors that make up the U.S. Climate Alliance and the Biden administration are expected to announce a pledge Thursday to quadruple the number of heat pumps in U.S. homes by 2030, from 4.7 million to 20 million.Heat pumps use little electricity,...
RBI Deputy Guv Michael Patra, ET BFSI
India is on track to become a $5 trillion economy by 2027 and at present, there are no visible signs of overheating, Reserve Bank of India Deputy Governor Michael Patra said in a recent speech delivered in Cambodia."Bank credit is monitored as a lead indicator of...
Russia is weaponizing food, energy and abducted children in its war against Ukraine
Ukraine's President Volodymyr Zelenskiy addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. Mike Segar | ReutersUkrainian President Volodymyr Zelenskyy said Tuesday that Russia is "weaponizing" everything from food and...
Bank of England halts run of interest rate hikes as economy slows, ET BFSI
The Bank of England halted its long run of interest rate increases on Thursday as the British economy slowed, but it said it was not taking a recent fall in inflation for granted.A day after a surprise slowing in Britain's fast pace of price growth, the BoE's Monetary...
State governors from Arizona, New Mexico seek stronger economic ties with Taiwan
Katie Hobbs, Governor of the U.S. state of Arizona, speaks during the 2023 U.S. Business Day and Taiwan-U.S. Supply Chain Partnership Forum in Taipei, Taiwan September 19, 2023. Carlos Garcia Rawlins | ReutersGovernors from the Southwestern United States are pursuing...
Putin accepts invitation to visit China in October after meeting Chinese foreign minister in Moscow
Chinese President Xi Jinping and Russian President Vladimir Putin.Xie Huanchi | Xinhua News Agency | Getty ImagesRussia's President Vladimir Putin said Wednesday he accepted an invitation from his Chinese counterpart to visit China in October during the Belt and Road...
Israel and Saudi Arabia can build peace with Biden’s help
U.S. President Joe Biden lholds a bilateral meeting with Israeli Prime Minister Benjamin Netanyahu on the sidelines of the 78th U.N. General Assembly in New York City, U.S., September 20, 2023. Kevin Lamarque | ReutersPresident Joe Biden met with Israeli Prime...
Trump aide Cassidy Hutchinson says Rudy Giuliani groped her Jan. 6
Rudolph Giuliani speaks to reporters at the White House in Washington, D.C., July 1, 2020.Kevin Lemarque | ReutersFormer White House aide Cassidy Hutchinson in a new book says ex-President Donald Trump's then-lawyer Rudy Giuliani groped her on Jan. 6, 2021, The...
Bank of England on brink of rate hike pause after inflation surprise, ET BFSI
The Bank of England will announce on Thursday whether it is halting a run of interest rate hikes that stretches back to December 2021, a day after signs that it had turned a corner in tackling Britain's high inflation problem.Investors piled into bets on the BoE...
RBI asks CICs to prepare data quality index for commercial, microfinance segments, ET BFSI
The Reserve Bank of India on Wednesday asked Credit Information Companies (CICs) to prepare data quality index for commercial and microfinance segments. In June 2014, the RBI had issued directions for setting out a common Data Quality Index (DQI) for assessing the...
Latest news on Russia and the war in Ukraine
Russia unleashes wave of attacks across UkraineRussia unleashed a wave of missile attacks across Ukraine overnight, with Kyiv and five other cities among the targets. The strikes set buildings ablaze and killed and wounded civilians.Air alerts sounded across the...
Bank of England on brink of rate hike pause after inflation surprise, ET BFSI
The Bank of England will announce on Thursday whether it is halting a run of interest rate hikes that stretches back to December 2021, a day after signs that it had turned a corner in tackling Britain's high inflation problem.Investors piled into bets on the BoE...
Trump protester Ray Epps pleads guilty to Jan. 6 crime
Ray Epps, in the red Trump hat, center, gestures to a line of law enforcement officers, as people gather on the West Front of the U.S. Capitol on Wednesday, Jan. 6, 2021 in Washington, DC.Kent Nishimura | Los Angeles Times | Getty ImagesRay Epps, who was targeted by...
Scott and Haley attack unions as UAW strike threatens to escalate
Republican presidential candidate Sen. Tim Scott, R-S.C., speaks during a meet and greet, Monday, Sept. 18, 2023, in Fort Dodge, Iowa.Charlie Neibergall | APSeveral Republican presidential candidates have gone on the attack against unions in response to the United...
Ronald Lauder to return art looted by Nazis to collector heirs
Zoom In IconArrows pointing outwardsEgon Schiele, "I Love Antitheses" (1912)Source: AlamyThe billionaire Ronald Lauder agreed to surrender a piece of art looted by Nazis in 1938 from a Jewish cabaret performer who was later killed in a concentration camp.Lauder, the...
Prosecutors oppose video court appearance
Hunter Biden, son of US President Joe Biden (R), leaves the J. Caleb Boggs Federal Building in Wilmington, Delaware, on July 26, 2023.Ryan Collerd | AFP | Getty ImagesFederal prosecutors on Wednesday urged a judge to reject a request by Hunter Biden to have his first...
Lin Wood is witness, DA says
Attorney Lin Wood speaks during a press conference on election results in Alpharetta, Georgia, Dec. 2, 2020.Elijah Nouvelage | ReutersLin Wood, an attorney and vocal supporter of former President Donald Trump, is a witness for the Atlanta district attorney in her...
Attorney General Merrick Garland says DOJ not affected by partisan attacks
US Attorney General Merrick Garland testifies during a hearing of the House Committee on the Judiciary oversight of the US Department of Justice, on Capitol Hill in Washington, DC, September 20, 2023.Mandel Ngan | AFP | Getty ImagesWASHINGTON — Attorney General...
AI could harm 2024 U.S. election, Senate Intelligence chair warns
U.S. Senator Mark Warner (D-VA) and other U.S. senators unveil legislation that would allow the Biden administration to "ban or prohibit" foreign technology products such as the Chinese-owned video app TikTok during a news conference on Capitol Hill in Washington,...
Donald Trump Jr. Twitter account hacked, sends false tweets
Donald Trump Jr., executive vice president of development and acquisitions for Trump Organization Inc., speaks on a smart phone during the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, US, on Thursday, March 2, 2023.Al Drago | Bloomberg...
Congress will avoid government shutdown, Sen. Rick Scott says
U.S. Senator Rick Scott (R-FL) speaks after the Senate Republican GOP leadership election on Capitol Hill in Washington, November 10, 2020.Erin Scott | ReutersWASHINGTON — Sen. Rick Scott, a Florida Republican, on Wednesday said he expects Congress will reach a deal...
House committee to hold Biden impeachment inquiry hearing
U.S. President Joe Biden delivers remarks on his economic agenda at Prince George's Community College in Largo, Maryland, September 14, 2023.Jonathan Ernst | ReutersThe House Oversight Committee will hold the first hearing on the impeachment inquiry into President Joe...
Sam Bankman-Fried mother advised son on political contributions
The mother of former cryptocurrency king Sam Bankman-Fried is being accused in a new lawsuit of acting as a key advisor to her son and his allies for political campaign contributions that later led to criminal charges against him and others.The complaint, filed on...
House GOP pulls key vote to advance stopgap government funding bill
U.S. House Speaker Kevin McCarthy, R-Calif., speaks with reporters as he walks to the House floor at the U.S. Capitol in Washington, D.C., Sept. 19, 2023.Evelyn Hockstein | ReutersThe House of Representatives canceled a scheduled key procedural vote Tuesday on a...
Biden says Trump, MAGA Republicans are threat to democracy
U.S. President Joe Biden walks to the White House from Marine One on the South Lawn of the White House in Washington, D.C., Sept. 17, 2023.Evelyn Hockstein | ReutersPresident Joe Biden warned that Donald Trump and other MAGA Republicans are "determined to destroy...
RBI study, BFSI News, ET BFSI
Cautioning against a return to the Old Pension Scheme (OPS), a study published by RBI has estimated the cumulative fiscal burden of implementing it at 4.5 times the outgo toward the existing National Pension System (NPS) and warned against the adverse impact on...
How G20 framework can shape India’s cryptocurrency regulations, ET BFSI
While India has been grappling with the complexities of crypto regulation for some time, the G20's endorsement of a comprehensive framework could provide the country with a roadmap for effective and globally aligned regulation. The recent G20 summit has brought into...
Hunter Biden not seeking special treatment in gun case
Hunter Biden, son of U.S. President Joe Biden, arrives at federal court to plead guilty to two misdemeanor charges of willfully failing to pay income taxes, Wilmington, Delaware, July 26, 2023.Jonathan Ernst | ReutersHunter Biden will plead not guilty during his...
RBI likely sold dollars to avoid a record low on rupee: Traders, ET BFSI
India's central bank likely sold dollars via public sector banks to defend the rupee which was at risk of slipping to a record low, four traders told Reuters.The rupee was at 83.2425 to the U.S. dollar, not too far away from the record low of 83.29.Before the normal...
Latest news on Russia and the war in Ukraine
Russia's losses appear to be mounting in southern Zaporizhzhia region, analysts sayRussian losses in the southern Zaporizhzhia region of Ukraine have increased significantly as Ukraine's counteroffensive makes gains, according to an analysis from the Institute for the...
Fed set to pause rate hikes, but don’t count out another increase, ET BFSI
The Federal Reserve is expected to pause its interest-rate hikes Wednesday for the second time this year following a slowing in inflation while leaving the door open for another increase as early as November.The Federal Open Market Committee will keep rates steady at...
U.S. Capitol Police all-clear after evacuating, ‘suspicious vehicle’
U.S. Capitol Police officers patrol on bicycles as security officials prepare for the possible indictment of former U.S. President Donald Trump over an alleged hush money payment to porn star Stormy Daniels during his 2016 campaign, at the U.S. Capitol in Washington,...
White House officials not going to Detroit for auto talks
United Auto Workers (UAW) members on a picket line outside the Ford Motor Co. Michigan Assembly plant in Wayne, Michigan, US, on Friday, Sept. 15, 2023. Bloomberg | Bloomberg | Getty ImagesThe Biden administration is no longer sending two key officials to Detroit this...
U.S. national debt tops $33 trillion for first time
The U.S. Department of the Treasury building is seen in Washington, D.C., Jan. 19, 2023.Saul Loeb | Afp | Getty ImagesWASHINGTON — The national debt of the U.S. reached a historic milestone by passing $33 trillion for the first time, less than two weeks before the...
Trump protestor Ray Epps charged with January 6 riot crime
Ray Epps, in the red Trump hat, center, gestures to others as people gather on the West Front of the U.S. Capitol in Washington, D.C., Jan. 6, 2021.Kent Nishimura | Los Angeles Times | Getty ImagesRay Epps, the pro-Trump protester who is the focus of right-wing...
Biden urges United Nations to back Ukraine over Russia
U.S. President Joe Biden addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. Mike Segar | ReutersPresident Joe Biden forcefully urged members of the United Nations to support Ukraine against Russia's invasion in a speech...
Treasury Secretary Janet Yellen cite Biden poll disconnect from economy
Janet Yellen, U.S. Secretary of the Treasury at Clinton Global Initiative summit at Hilton Midtown Hotel.Lev Radin | Lightrocket | Getty ImagesWASHINGTON — Treasury Secretary Janet Yellen on Tuesday said there is a "disconnect" between the actual performance of the...
President Joe Biden speaks at the UN General Assembly
President Joe Biden will address the United Nations General Assembly Tuesday morning, advocating for democracy and increased aid to Ukraine.Leaders from at least 145 countries are in attendance with a few notable exceptions: France, the United Kingdom, China and...
Pence echoes Trump on UAW strikes to Biden EV push, China
Republican presidential candidate, former Vice President Mike Pence speaks at the Pray Vote Stand Summit at the Omni Shoreham Hotel on September 15, 2023 in Washington, DC.Anna Moneymaker | Getty ImagesFormer Vice President Mike Pence argued Tuesday that the Biden...
Biden to push for Ukraine aid, democracy as China and Russia skip UN
U.S. Defense Secretary Lloyd Austin (L) and U.S. Homeland Security Secretary Alejandro Mayorkas (R) look on as President Joe Biden speaks about the government response and recovery efforts in Maui, Hawaii, and the ongoing response on Hurricane Idalia, in the Roosevelt...
New RBI rules can help you save Rs 33 lakh in interest in a Rs 50-lakh loan; know how, ET BFSI
Successive hikes in interest rates in the last year have extended the tenure of most home loans — in fact, some borrowers now have to pay the loans till retirement. When the interest rate goes up, banks usually increase the tenure of the loan to shield borrowers from...
Millions of parents in child care dilemma if federal assistance ends
GREENBELT, Md. — It's barely 10 a.m. on a Wednesday, but the day at Greenway Learning Center is well underway. Story time is done, jelly sandwiches have been eaten and the kids have been divided into the preschoolers and the "twos", with infants in another room. As...
Trump to give speech to autoworkers in Detroit, skip second GOP debate
Former US President and 2024 Presidential hopeful Donald Trump speaks at the CWA (Concerned Women for America) Summit 2023 in Washington, DC, on September 15, 2023. Mandel Ngan | Afp | Getty ImagesFormer President Donald Trump is planning to visit Detroit next week to...
Old Pension Scheme could put severe strain on states’ finances’: RBI, ET BFSI
Mumbai: The states, which revert to the Old Pension Scheme (OPS) could face "unsustainable" fiscal stress, says an article in the Reserve Bank of India's September bulletin. "Results indicate that the cumulative fiscal burden in case of OPS could be as high as 4.5...
Latest news on Russia and the war in Ukraine
G-7 ministers call on China to press Russia to stop aggression in Ukraine The Group of Seven (G-7) on Tuesday called on China to press Russia to stop its aggression in Ukraine after foreign ministers of the bloc met on the sidelines of the United Nations General...
Food prices, climate change and global aid
Janet Yellen, US Treasury secretary, speaks at the International Brotherhood of Electrical Workers (IBEW) 357 union hall following a tour of the JATC training facility in Las Vegas, Nevada, on Monday, Aug. 14, 2023.Ronda Churchill | Bloomberg | Getty ImagesWASHINGTON...
Union president downplays Biden role in talks
Breaking with the long-standing tradition of the "handshake ceremony" with the auto executives of the Big Three auto makers to open contract talks, United Auto Workers president Shawn Fain instead speaks with and does "members' handshakes" with Stellantis workers at...
Today ‘five innocent Americans’ imprisoned in Iran are coming home
US citizens Siamak Namazi (R-back), Emad Sharqi (L) and Morad Tahbaz (C) disembark from a Qatari jet upon their arrival at the Doha International Airport in Doha on September 18, 2023.Karim Jaafar | Afp | Getty ImagesPresident Joe Biden celebrated the release of five...
Billionaire Ken Griffin, former DeSantis donor, sits out GOP primary
Ken Griffin, CitadelScott Mlyn | CNBCBillionaire and Citadel CEO Ken Griffin, a major Republican donor, says he is sitting on the sidelines of the GOP presidential primary and not supporting Florida Gov. Ron DeSantis, who he backed in 2022.Griffin is not impressed...
U.S. prisoners fly out of Iran in swap deal after $6 billion of Tehran’s funds are unfrozen
A woman steps through a door that is covered by a mural depicting American hostages and wrongful detainees who are being held abroad, July 20, 2022, in the Georgetown neighborhood of Washington. At left is Siamak Namazi, who has been in captivity in Iran since 2015....
Hunter Biden sues IRS over tax information disclosures
Hunter Biden, son of U.S. President Joe Biden, departs federal court after a plea hearing on two misdemeanor charges of willfully failing to pay income taxes in Wilmington, Delaware, July 26, 2023.Jonathan Ernst | ReutersHunter Biden filed a lawsuit Monday accusing...
Bank of England readies what may be its final rate hike, BFSI News, ET BFSI
The Bank of England is likely to hike interest rates once again this week, possibly the last hurrah for one of the great tightening cycles of the last 100 years as a cooling economy begins to worry policymakers.All but one of 65 economists polled by Reuters in recent...
Top China, U.S. officials hold Malta talks ahead of possible Xi-Biden meeting
An editorial photograph of the USA and China flags.Veronaa | Digitalvision Vectors | Getty ImagesChina's foreign minister Wang Yi and U.S. national security advisor Jake Sullivan met in Malta over the weekend. The bilateral talks come ahead of a possible meeting...
Bank of England readies what may be its final rate hike, BFSI News, ET BFSI
The Bank of England is likely to hike interest rates once again this week, possibly the last hurrah for one of the great tightening cycles of the last 100 years as a cooling economy begins to worry policymakers.All but one of 65 economists polled by Reuters in recent...
HFCs welcome RBI’s move on property documents, affordable segment hopes leeway, ET BFSI
Reserve Bank of India (RBI) through its recent circular on mandating lenders to return property documents to borrowers within 30 days came as a reliever for the customers.The central bank also said in case of delay beyond 30 days, REs need to compensate borrowers at a...
Latest news on Russia and the war in Ukraine
China's Wang Yi visits Russia ahead of possible Xi-Putin meetingChina's top diplomat, Wang Yi, begins on Monday a four-day trip to Russia during which both nations are expected to pledge deeper mutual political trust, readying for a possible landmark visit by...
Here’s complete detail, ET BFSI
Prime Minister Narendra Modi launched a key scheme for the craftsmen and artisans named – PM Vishwakarma Yojana – with total outlay of Rs 13,000 Crores. The scheme will give a boost to artisans and caftsmen, nurturing their skills and help in improving quality of...
Texas AG Ken Paxton’s impeachment trial is on the brink of a verdict as senators end deliberations
The Texas Senate on Saturday ended deliberations over whether Attorney General Ken Paxton should be removed from office, putting the Republican's historic impeachment trial on the brink of a verdict.The jury of 30 senators, most of whom are Republicans, spent about...
Trump blasts UAW leaders amid strike, says autoworkers’ jobs going to China
Former President Donald Trump speaks during an interview with NBC News' Kristen Welker, Sept. 14, 2023.Meet the Press | NBCUWASHINGTON — Former President Donald Trump warned that U.S. autoworkers' jobs will move to China and accused the United Auto Workers' leadership...
Financial inclusion index rises; RBI’s data shows improvement across all segments, ET BFSI
A police officer walks past the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai.The RBI's composite financial inclusion index (FI-Index), capturing the extent of financial inclusion across the country, rose to 60.1 in March 2023, showing growth...
RBI’s composite financial inclusion index sees uptick with growth across all parameters, ET BFSI
The RBI's composite financial inclusion index (FI-Index), capturing the extent of financial inclusion across the country, rose to 60.1 in March 2023, showing growth across all parameters.The index captures information on various aspects of financial inclusion in a...
Bernie Sanders calls out automaker CEOs at UAW rally: ‘End your greed’
Sen. Bernie Sanders (I-VT) and UAW President Shawn Fain (left) speak at a rally in support of United Auto Workers members as they strike the Big Three automakers on September 15, 2023 in Detroit, Michigan.Bill Pugliano | Getty ImagesSen. Bernie Sanders addressed...
Jack Smith asks for ‘narrow’ gag order
Former President Donald Trump, a Republican presidential candidate, speaks at a South Dakota Republican Party rally in Rapid City, South Dakota, Sept. 8, 2023.Jonathan Ernst | ReutersWASHINGTON — Special counsel Jack Smith on Friday asked a federal judge to bar former...
RBI’s composite financial inclusion index sees uptick with growth across all parameters, ET BFSI
The RBI's composite financial inclusion index (FI-Index), capturing the extent of financial inclusion across the country, rose to 60.1 in March 2023, showing growth across all parameters.The index captures information on various aspects of financial inclusion in a...
Trump lashes out at Jack Smith’s gag order bid in D.C. election case
Former U.S. President and Republican presidential candidate Donald Trump speaks at a South Dakota Republican party rally in Rapid City, South Dakota, U.S. September 8, 2023. Jonathan Ernst | ReutersWASHINGTON — Donald Trump on Friday attacked special counsel Jack...
SpaceX Starlink service in Ukraine subject of Senate letter
SpaceX, Twitter and electric car maker Tesla CEO Elon Musk, arrives for a US Senate bipartisan Artificial Intelligence (AI) Insight Forum at the US Capitol in Washington, DC, on September 13, 2023. Andrew Caballero-Reynolds | AFP | Getty ImagesWASHINGTON — Three...
Jets owner Woody Johnson helps Trump 2024 campaign
US President Donald Trump (R) gestures as he talks with US Ambassador to the United Kingdom Woody Johnson (L) preparing to board Marine One to depart the US ambassador's residence Winfield House in London on July 13, 2018.Brendan Smialowski | AFP | Getty...
Biden says record profits should ensure record contracts as UAW strikes Ford, GM and Stellantis plants
U.S. President Joe Biden delivers remarks on the contract negotiations between the United Auto Workers and auto companies in the Roosevelt Room at the White House on September 15, 2023 in Washington, DC.Kevin Dietsch | Getty ImagesWASHINGTON — President Joe Biden...
Trump, DeSantis go head-to-head at key conservative summits in D.C.
Former U.S. President and Republican presidential candidate Donald Trump speaks at a South Dakota Republican party rally in Rapid City, South Dakota, September 8, 2023.Jonathan Ernst | ReutersFormer President Donald Trump is set to deliver a pair of headline speeches...
New RBI rules can help you save Rs 33 lakh in interest in a Rs 50-lakh loan; know how, ET BFSI
Successive hikes in interest rates in the last year have extended the tenure of most home loans — in fact, some borrowers now have to pay the loans till retirement. When the interest rate goes up, banks usually increase the tenure of the loan to shield borrowers from...
Elon Musk X is suing California over content moderation bill
Elon Musk, chief executive officer of SpaceX and Tesla and owner of Twitter, at the Viva Technology conference in Paris, France, June 16, 2023.Gonzalo Fuentes | ReutersBillionaire Elon Musk's social media platform quietly waged a lobbying campaign to derail an online...
More than 60,000 Kaiser Permanente workers vote to authorize strike
Kaiser Permanente mental health workers and supporters march outside a Kaiser facility in Sacramento, California, Aug. 15, 2022.Rich Pedroncelli | APMore than 60,000 health-care workers on Thursday voted to authorize a strike against Kaiser Permanente if an agreement...
RBI imposes monetary penalty on four cooperative banks for rule violations, ET BFSI
The banks that have been penalised are the Baramati Sahakari Bank, the Becharaji Nagarik Sahakari Bank, the Waghodia Urban Co-operative Bank, and the Viramgam Mercantile Co-operative Bank, according to the releases. The central bank has imposed a penalty of Rs 2 lakh...
Latest news on Russia and the war in Ukraine
Zelenskyy to visit Washington and New YorkU.S. President Joe Biden and President of Ukraine, Volodymyr Zelenskyy shake hands during G7 Declaration of Joint Support for Ukraine at LITEXPO Lithuanian Exhibition and Congress Center in Vilnius, Lithuania on July 12,...
European Central Bank raises rates to all-time high of 4%, signals end of tightening, ET BFSI
FRANKFURT: The European Central Bank raised interest rates for the 10th meeting in a row on Thursday to counter stubborn inflation but signalled that it is likely done tightening policy.The central bank for the 20 countries that use the euro lifted its deposit rate to...
Singapore, Malaysia leaders want to be friends with the U.S. and China
U.S. President Joe Biden and China's President Xi Jinping shake hands as they meet on the sidelines of the G20 Summit in Nusa Dua on the Indonesian resort island of Bali on November 14, 2022.Saul Loeb | Afp | Getty ImagesSINGAPORE — The U.S. and China have been in a...
Biden, Trump in statistical tie in new poll
Silhouettes of former Vice President Joe Biden, left, and President Donald Trump on the campaign trail for the 2020 presidential election.ReutersPresident Joe Biden and former president Donald Trump are in a statistical tie in a new poll of voters by Quinnipiac...
Planned Parenthood resumes abortions in Wisconsin
In this photo is the Madison South Health Center that is owned and operated by Planned Parenthood of Wisconsin.Kevin Wang | APPlanned Parenthood will resume abortions in Wisconsin next week, after a state court ruled that a 174-year-old criminal law does not ban the...
Hunter Biden indicted on firearms charges
Hunter Biden arrives at Hancock Field Air National Guard Base after disembarking from Air Force One with his father, U.S. President Joe Biden, in Syracuse, New York, Feb. 4, 2023.Elizabeth Frantz | ReutersHunter Biden, son of President Joe Biden, was indicted Thursday...
FBI investigating violent threats against officials in Fulton County, Georgia
Fulton County Sheriff officers in front of the Fulton County Courthouse on September 06, 2023 in Atlanta, Georgia.Joe Raedle | Getty ImagesThe Federal Bureau of Investigation is responding to violent threats made against officials in Fulton County, Georgia, the agency...
RBI releases list of 15 NBFCs in ‘upper layer’ under scale based regulations, ET BFSI
The Reserve Bank of India on Thursday released a list of fifteen NBFCs figuring in the 'upper layer' under the scale based regulation for these lenders for the financial year 2024.LIC Housing Finance Limited ranked first on the list, followed by Bajaj Finance Limited...
Scott vows to make Trump tax cuts permanent, axe Biden’s inflation law
Sen. Tim Scott, R-S.C., on Thursday advocated for cutting taxes and slashing government spending, including targeting welfare programs, as part of his presidential campaign's new economic plan.Scott, touting his new plan on CNBC's "Squawk Box," argued that his system...
RBI launches innovative program to revolutionize credit access for MSMEs, ET BFSI
The Reserve Bank of India (RBI) has embarked on a groundbreaking initiative aimed at transforming the landscape for Micro, Small, and Medium Enterprises (MSMEs) in the country.T Rabi Sankar, Deputy Governor of the RBI, unveiled the program, highlighting its potential...
Trump trial in Georgia election case won’t be in October, judge rules
Former U.S. President Donald Trump, who was arraigned on federal charges related to attempts to overturn his 2020 election defeat, faces reporters as he departs Washington at Reagan Washington National Airport in nearby Arlington, Virginia, U.S., August 3, 2023. Pool...
Commercial papers, certificate of deposits are back in vogue, ET BFSI
Indian companies are raising more funds directly from the market through commercial papers, or CPs, and banks are choosing certificates of deposit, or CDs, to benefit from negotiable borrowing costs.With the Reserve Bank of India (RBI) mandating banks to maintain an...
Senate subpoenas Saudi Public Investment Fund’s U.S. arm on PGA-LIV Golf deal
Senator Richard Blumenthal, D-CT, speaks during a Senate Judiciary Committee hearing on the January 6th insurrection, in the Hart Senate Office Building on Capitol Hill in Washington, DC, March 2, 2021.Graeme Jennings | Pool via ReutersWASHINGTON — Bipartisan members...
Wall Street execs host DeSantis fundraising events in bid versus Trump
Republican U.S. presidential candidate and Florida Governor Ron DeSantis speaks during his "Never Back Down" tour ahead of his appearance at the Iowa State Fair, in Atlantic, Iowa, August 11, 2023.Scott Morgan | ReutersFlorida Gov. Ron DeSantis is turning to a group...
Trump would waive Georgia election speedy trial in co-defendant break
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 ImagesDonald Trump on Wednesday offered to "exchange" his...
Sen. Warren calls on Yellen, FSOC to do more to shore up regional banks
Sen. Elizabeth Warren, D-Mass., questions Treasury Secretary Janet Yellen during the Senate Banking, Housing, and Urban Affairs Committee hearing titled The Financial Stability Oversight Council Annual Report to Congress, in Dirksen Senate Office Building in...
Trump loses bid to delay Carroll rape-defame case, wins appeal motion
E. Jean Carroll reacts as she exits the Manhattan Federal Court following the verdict in the civil rape accusation case against former U.S. President Donald Trump, in New York City, May 9, 2023.Brendan McDermid | ReutersA federal appeals court on Wednesday denied a...
Biden to starkly contrast his economic plan with GOP as shutdown looms
U.S. President Joe Biden speaks about the August U.S. jobs and employment report numbers in the Rose Garden of the White House in Washington, September 1, 2023.Jonathan Ernst | ReutersWASHINGTON — President Joe Biden will deliver a speech Thursday contrasting his...
India’s re-jig of banks’ investment rules to boost govt debt appetite, ET BFSI
The Indian central bank's removal of the cap on how much a bank can invest in bonds they intend to hold to maturity will boost lenders' appetite for government securities and benefit their bottom lines, four bankers said on Wednesday.The Reserve Bank of India (RBI)...
Latest news on Russia and the war in Ukraine
Russian influence over Ukraine's energy supply 'severely diminished,' UK saysAn employee stands in the control room of the Rivne Nuclear Power Plant, in Varash, Rivne region, on September 10, 2023, amid the Russian invasion of Ukraine.Roman Pilipey | Afp | Getty...
RBI issues revised norms for classification, valuation of investment by banks, ET BFSI
The RBI on Tuesday issued revised norms for classification, valuation, and operation of investment portfolios of commercial banks, aligning them with global standards and best practices. The revised 'Reserve Bank of India (Classification, Valuation and Operation of...
GOP Sen. Mitt Romney says he will not run for reelection
U.S. Senator Mitt Romney (R-UT) and other U.S senators unveil legislation that would allow the Biden administration to "ban or prohibit" foreign technology products such as the Chinese-owned video app TikTok during a news conference on Capitol Hill in Washington,...
Judge sets limits on Trump discussing classified info in Mar-a-Lago documents case
Former U.S. President Donald Trump delivers remarks during an event following his arraignment on classified document charges, at Trump National Golf Club, in Bedminster, New Jersey, U.S., June 13, 2023. Amr Alfiky | ReutersA federal judge on Wednesday issued an order...
Judge denies Trump aide Mark Meadows request to pause ruling that sent Georgia election case back to state court
Mark Meadows, White House chief of staff, listens to a question from a member of the media outside of the White House in Washington, D.C., U.S., on Wednesday, Oct. 21, 2020.Chris Kleponis | Bloomberg | Getty ImagesA federal judge on Wednesday denied former White House...
2024 election ad spending could smash Trump-Biden record, top $10 billion
President Donald Trump and Democratic presidential candidate Joe Biden are seen during the final debate of the 2020 presidential election, Oct. 23, 2020.Pavlo Conchar | LightRocket | Getty ImagesThe 2024 election cycle is expected to be the most expensive of all time...
House committee targets crackdown on U.S. investment in Chinese tech
WASHINGTON — Members of a bipartisan House committee examining economic competition between the U.S. and China said Tuesday that Congress needs to legislate barriers for American investment in Chinese companies, including artificial intelligence."It is up to Congress...
Blumenthal plans action on political, charitable telemarketing scams
Sen. Richard Blumenthal announces a bipartisan agreement on Turkey sanctions during a news conference on Capitol Hill in Washington, Oct. 17, 2019.Erin Scott | ReutersSen. Richard Blumenthal is moving ahead with new legislative efforts to combat telemarketing scams...
Warren calls for investigation into Elon Musk and Starlink in Ukraine
WASHINGTON — Sen. Elizabeth Warren called for a probe Tuesday following a claim that Tesla and SpaceX CEO Elon Musk curbed a Ukrainian military operation aimed at Russia's Black Sea fleet last year by limiting access to SpaceX's Starlink satellite network, a report...
‘Cryptoqueen’ partner gets 20 years prison in $4 billion ponzi fraud
Damian Williams, the top federal prosecutor in Manhattan, speaks at a press conference to announce the addition of “Cryptoqueen” Ruja Ignatova to the FBI’s most-wanted fugitives list, in New York, June 30, 2022.Luc Cohen | ReutersThe co-founder of the fraudulent...
Child poverty surged after stimulus checks, tax credits ended
Children ages 3 to 5 participate at the Head Start classroom in the Carl and Norma Miller Children's Center in Frederick, Maryland, March 13, 2023.Maansi Srivastava | The Washington Post | Getty ImagesChild poverty more than doubled in the U.S. last year after...
RBI directs banks to put in board-approved investment policies, ET BFSI
The Reserve Bank of India (RBI) has issued revised guidelines for the classification, valuation, and operation of commercial banks' investment portfolios, with these changes set to take effect from April 2024. "These Directions are expected to enhance the quality of...
Latest news on Russia and the war in Ukraine
Talks have ended between Putin and Kim, Russian media reportRussian President Vladimir Putin and North Korean leader Kim Jong Un shaking hands during their meeting at the Vostochny Cosmodrome in the Amur region on Sept. 13, 2023.Vladimir Smirnov | Afp | Getty...
Release all original property documents within 30 days of loan repayment, RBI instructs lenders, ET BFSI
Once the borrower has made the full payment towards a loan, lenders shall release all the original movable/immovable property documents and remove charges registered with any registry within a period of 30 days, Reserve Bank of India said on Wednesday. In a breather...
Biden impeachment inquiry gives White House a fight it’s ready for
WASHINGTON — The White House's oversight and investigations war room finally got the battle on Tuesday that they'd been arming themselves for.House Speaker Kevin McCarthy's announcement that he has directed GOP led House committees to open an impeachment inquiry into...
Georgia DA urges judge to reject Meadows bid for stay in election case
Mark Meadows in a police booking mugshot released by the Fulton County Sheriff's Office.Fulton County Sheriff's Office | via ReutersMark Meadows has failed to show he can "carry the heavy burden" required to pause a judge's order rejecting his bid to move his...
Government shutdown fears cloud legislative agenda as House returns
U.S. House Speaker Kevin McCarthy (R-CA) arrives at the U.S. Capitol ahead of an expected vote in the U.S. House of Representatives on a bill raising the federal government's $31.4 trillion debt ceiling, in Washington, May 31, 2023.Julia Nikhinson | ReutersWASHINGTON...
GOP House Speaker McCarthy endorses Biden impeachment inquiry
U.S. Speaker of the House Kevin McCarthy (R-CA) speaks to reporters as he returns to the U.S. Capitol following a meeting with President Joe Biden and fellow congressional leaders on May 16, 2023 in Washington, DC.Win McNamee | Getty ImagesRepublican House Speaker...
Reserve Bank of India revises banks’ investment classification, valuation norms, ET BFSI
The Reserve Bank of India has revised its guidelines on how banks need to categorise their investments in a bid to align them with global standards, it said in a release on Tuesday.Banks will have to classify investments into three categories - available for sale...
U.S. will help Vietnam boost its military capabilities
U.S. President Joe Biden meets with Vietnam's Prime Minister Pham Minh Chinh in Hanoi, Vietnam, September 11, 2023. Evelyn Hockstein | ReutersNearly fifty years after the fall of Saigon, the United States agreed to help build up Vietnam's defense capabilities, a tacit...
$57 billion in damage and 253 people dead so far
Debris covers a residential area in Perryton, Texas, Thursday, June 15, 2023, after a tornado struck the town.David Erickson | APThe U.S. has suffered the highest number of billion-dollar weather disasters on record this year with wildfires and severe storms wreaking...
Trump seeks removal of federal judge from D.C. election case
Former U.S. President and Republican presidential candidate Donald Trump speaks at a South Dakota Republican party rally in Rapid City, South Dakota, U.S. September 8, 2023. Jonathan Ernst | ReutersFormer President Donald Trump on Monday asked Judge Tanya Chutkan to...
North Korea’s Kim Jong Un arrives in Russia before meeting with Putin
A file photo of Russian President Vladimir Putin meets North Korean Leader Kim Jong-un on April 25, 2019 in Vladivostok, Russia.Mikhail Svetlov | Getty Images News | Getty ImagesJoined by his top military officials handling his nuclear-capable weapons and munitions...
Latest news on Russia and the war in Ukraine
Humanitarian aid for North Korea likely to be a topic for Putin and KimHumanitarian aid will be a topic that Russian President Vladimir Putin and North Korean leader Kim Jong Un discuss in their forthcoming one-to-one meeting, a senior Russian official said...
Trump aide Mark Meadows seeks stay pending appeal of GA ruling
Former Rep. Mark Meadows, R-N.C., speaks during a forum on House and GOP Conference rules for the 118th Congress, at the FreedomWorks office in Washington, D.C., on Monday, November 14, 2022. Drew Angerer | Getty Images News | Getty ImagesMark Meadows, Donald Trump's...
America marks the 22nd anniversary of the 9/11 terror attacks
An officer from the NYPD pauses at the National September 11 Memorial & Museum, ahead of the ceremony marking the 22nd anniversary of the September 11, 2001 attacks on the World Trade Center, in New York City, U.S., September 11, 2023. Andrew Kelly |...
RBI expands its toolkit to tackle liquidity, inflation, BFSI News, ET BFSI
The Reserve Bank of India has resumed the use of largescale transactions in the forwards segment of the foreign exchange market, as it seeks to nimbly manage surplus banking system liquidity and tackle inflation risks without disrupting smooth flow of credit in the...
Frictionless credit initiative slashes operational costs for lenders by 70 pc: RBI official, ET BFSI
Mumbai: The frictionless credit initiative being piloted by the Reserve Bank is helping lenders slash their customer acquisition cost by a whopping 70 per cent, while for borrowers the saving is 6 per cent of the loan amount, a senior central bank official has said....
India to decide on crypto regulations after ‘extensive discussions’ globally, IMF-FSB paper to act as ‘bottom line’ : Official, ET BFSI
New Delhi, India will decide on implementing cryptocurrency regulations after extensive discussions with other countries, a senior official said on Sunday, virtually ruling out a ban on such assets. Ahead of G20 leaders' summit, the IMF and the Financial Stability...
No big crypto call for now, India to talk on regulation, BFSI News, ET BFSI
NEW DELHI: The government does not appear to be in a hurry to decide on the way forward for cryptocurrency assets. A senior official said on Sunday that India will hold extensive consultation with other countries before coming to any decision.While a joint paper...
RBI, banks plan new features to boost digital currency transactions, say sources, ET BFSI
The Reserve Bank of India (RBI) is working with lenders to introduce new features to popularise the central bank digital currency (CBDC), the so-called e-rupee, according to six people familiar with the matter.Retail CBDC transactions are averaging close to 18,000 a...
Latest news on Russia and the war in Ukraine
Ukraine says it regains more territory in the east, southUkraine reported on Monday its troops had regained more territory on the eastern and southern fronts in its military counteroffensive against Russian forces.Deputy Defence Minister Hanna Maliar said Kyiv's...
Iran, US on verge of prisoner swap under Qatar-mediated deal
When $6 billion of unfrozen Iranian funds are wired to banks in Qatar as early as next week, it will trigger a carefully choreographed sequence that will see as many as five detained U.S. dual nationals leave Iran and a similar number of Iranian prisoners held in the...
RBI likely to start digital rupee pilot in call money market by October, ET BFSI
NEW DELHI: The Reserve Bank is likely to launch the pilot of Central Bank Digital Currency (CBDC) for transactions for interbank borrowing or call money market by October, central bank Executive Director Ajay Kumar Choudhary said on Sunday.The pilot of the wholesale...
Biden, Modi discuss democracy, technology ahead of G20 summit
Students give final touches to paintings of U.S. President Joe Biden, Indian Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni at an art school in Mumbai ahead of the two-day G20 summit in New Delhi, Sept. 5, 2023.Punit Paranjpe | AFP | Getty...
Two 9/11 victims identified more than two decades after terror attacks
Smoke pours from the Twin Towers of the World Trade Center after they were hit by two hijacked airliners in a terrorist attack in New York City, Sept. 11, 2001.Robert Giroux | Getty ImagesTwo victims who perished in the World Trade Center have been identified more...
Trump aide Mark Meadows denied move of Georgia case to federal court
Mark Meadows in a police booking mugshot released by the Fulton County Sheriff's Office.Fulton County Sheriff's Office | via ReutersA judge on Friday rejected a request by Trump White House chief of staff Mark Meadows to move his Georgia election conspiracy criminal...
Private banks’ short-term fundraise via CDs hits 8-month high as RBI drains liquidity, ET BFSI
Certificate of deposit (CD) issuances by private sector banks in India hit an eight-month high in August primarily due to the incremental cash reserve ratio (CRR) requirement and shrinking liquidity in the banking sector. Funds raised by private sector banks more than...
MyPillow CEO Mike Lindell melts down in 2020 election deposition
My Pillow CEO Mike Lindell reacts during a radio show hosted by Steve Bannon during the Conservative Political Action Conference (CPAC) at Gaylord National Convention Center in National Harbor, M.D., U.S., March 2, 2023. Sarah Silbiger | ReutersProminent Donald Trump...
TurboTax maker Intuit deceived users with ‘free’ tax offers
Kimberly White | Getty Images Entertainment | Getty ImagesWASHINGTON — A Federal Trade Commission judge on Friday issued an initial ruling against Intuit, the maker of the popular tax filing software TurboTax, saying the company deceived consumers with ads for...
Looming UAW strike puts ‘Union Joe’ Biden in a tough position
US President Joe Biden tours the Mack Trucks Lehigh Valley Operations Manufacturing Facility alongside Martin Weissburg (R), President of Mack Trucks and Kevin Fronheiser (L), Shop Chairman of UAW Local 677, in Macungie, Pennsylvania, July 28, 2021.Saul Loeb | AFP |...
Trump overstated net worth by up to $3.6 billion per year, NY AG alleges in new filing
Zoom In IconArrows pointing outwardsFormer President Donald Trump's net worth was inflated by billions of dollars more than what the New York attorney general's office recently believed to be the case, the AG said in a new court filing Friday.Citing an analysis by...
Trump Georgia election case special grand jury report released
Senator Kelly Loeffler (R-GA) and Senator David Perdue (R-GA), wave during a campaign event at the Olde Blind Dog Irish Pub, in Milton, Georgia, December 21, 2020.Al Drago | ReutersThe full special grand jury report that previewed the criminal indictment of former...
World Bank praises India’s digital public infrastructure, ET BFSI
Ahead of the G20 meeting, World Bank has released findings included in it's G20 document saying India has achieved financial inclusion targets in just 6 years which would otherwise have taken at least 47 long years.The policy document prepared by the World Bank said...
Senators take up looming insurance crisis as issuers leave risky areas
View of a damaged property after the arrival of Hurricane Idalia in Horseshoe Beach, Florida, August 31, 2023.Julio Cesar Chavez | ReutersWASHINGTON — Low-income policyholders will be hit hardest by rising insurance premiums as the frequency of natural disasters...
RBI to discontinue incremental cash reserve ratio in a phased manner, ET BFSI
The Reserve Bank of India on Friday announced that it will discontinue incremental cash reserve ratio (I-CRR) in a phased manner. I-CRR will be phased out 25 per cent each on September 9 and September 23, while the rest will be released on October 7."Based on an...
Former FTX executive Ryan Salame pleads guilty
Ryan Salame, former co-chief executive officer of FTX Digital Markets Ltd., exits federal court in New York, on Sept. 7, 2023.Stephanie Keith | Bloomberg | Getty ImagesFormer FTX executive Ryan Salame pleaded guilty Thursday in New York federal court to campaign...
India’s ‘freedom’ takes precedence over being a U.S. ally: Think tank
India's relationship with the United States is the strongest it's been in years.U.S. President Joe Biden and Indian Prime Minister Narendra Modi are set to meet for another bilateral meeting later Friday at the Group of 20 summit in New Delhi, after several one-on-one...
RBI Deputy Governor, ET BFSI
MUMBAI: The number of retail central bank digital currency (CBDC) transactions being carried out per day at a system-wide level is currently at 18,000, with the figure expected to rise dramatically in coming months, a government official said.In July, RBI deputy...
SEBI mandates payment to Investor Protection and Education Fund only through online mode, ET BFSI
The Securities and Exchange Board of India (SEBI) has said that payments to the SEBI Investor Protection and Education Fund (IPEF) account can now be made only through online mode.To facilitate these online payments, SEBI has provided a dedicated link on its official...
Latest news on Russia and the war in Ukraine
One dead, 25 injured after missile strike in Ukrainian cityOne person has died and at least 25 people have been injured from a missile strike in the city of Kryvyi Rih, according to Ukrainian officials.Serhii Lysak, head of the Dnipropetrovsk regional military...
Biden will nominate a former Obama official to run the FAA
Michael G. Whitaker, vice president of alliances, UAL Corp., testifies before the House Transportation and Infrastructure Subcommittee on Aviation regarding the United States and European Union Open Skies Agreement in Washington, D.C. on Wednesday, February 8, 2006.J....
Trump may seek transfer of Georgia election case to federal court
U.S. President Donald Trump attends a campaign rally for Republican U.S. senators David Perdue and Kelly Loeffler, ahead of their January runoff elections to determine control of the U.S. Senate, in Valdosta, Georgia, U.S., December 5, 2020.Jonathan Ernst |...
Trump Georgia DA rejects House GOP demand for records as “illegal’
U.S. Congressman Jim Jordan (R-OH) (L), and Fulton County D.A. Fani Willis (R)ReutersAtlanta District Attorney Fani Willis tore into House Judiciary Chairman Jim Jordan on Thursday in a searing letter accusing the Ohio Republican of trying to obstruct her criminal...
Jury in Trump advisor Peter Navarro contempt of Congress case deliberates
Peter Navarro, an advisor to former U.S. President Donald Trump, arrives at the E. Barrett Prettyman Courthouse on September 07, 2023 in Washington, DC.Kevin Dietsch | Getty ImagesA jury began deliberations Thursday in the trial of Trump White House trade advisor...
DeSantis board hits back at Disney in legal fight
The board picked by Florida Gov. Ron DeSantis to oversee Walt Disney World's special tax district asked a state court to dismiss Disney's bid to recover damages over a breach of contracts counterclaim."All of Disney's counterclaims fail as a matter of law," attorneys...
Amar Patnaik, Member of Rajya Sabha, ET BFSI
While speaking at the Global Fintech Fest 2023, Amar Patnaik, Member of Rajya Sabha, said the Parliament Standing Committee will present the next paper on cyber security. He believed cyber security is a big challenge, and India, is doing better compared to the world,...
Trump bid to delay New York fraud trial ‘without merit,’ judge says
Former U.S. President and Republican presidential candidate Donald Trump looks on as he attends the ALGOP Summer Meeting in Montgomery, Alabama, Aug. 4, 2023.Cheney Orr | ReutersA New York judge on Wednesday rejected Donald Trump's request to delay his sweeping civil...
Biden heads to New Delhi for G20 amid rising global tensions
US President Joe Biden looks on as India's Prime Minister Narendra Modi speaks during a meeting with senior officials and CEOs of American and Indian companies, in the East Room the White House in Washington, DC, on June 23, 2023. Brendan Smialowski | AFP | Getty...
Blinken announces $1 billion Ukraine aid package in surprise visit
Ukraine's President Volodymyr Zelensky (L) shakes hands with US Secretary of State Antony Blinken before a meeting at Bankova in Kyiv on September 6, 2023.Brendan Smialowski | AFP | Getty ImagesWASHINGTON — U.S. Secretary of State Antony Blinken announced a new aid...
McConnell vows to finish Senate term despite health scares, concerns
Senate Minority Leader Mitch McConnell, R-Ky., on Wednesday vowed to finish his term in office, brushing off questions about his health after he froze up in public twice this summer."I'm going to finish my term as leader and I'm going to finish my Senate term,"...
Ukraine drone supplier AeroVironment soars more than 20%, best day in over two years
AeroVironment Switchblade 600 DroneCourtesy: AeroVironmentWASHINGTON — Drone manufacturer AeroVironment's shares rallied 20% on Wednesday on the back of better-than-expected fiscal first-quarter results.Wednesday's gain — AeroVironment's biggest since January 2021 —...
Trump Georgia election trial juror names should be secret, DA says
Fulton County District Attorney Fani Willis speaks during a news conference at the Fulton County Government building in Atlanta, Aug. 14, 2023.Joshua Lott | The Washington Post | Getty ImagesThe Atlanta district attorney asked a judge Wednesday to keep jurors' names...
Prosecutors will seek Hunter Biden indictment before Sept. 29
Hunter Biden, son of U.S. President Joe Biden, departs federal court after a plea hearing on two misdemeanor charges of willfully failing to pay income taxes in Wilmington, Delaware, July 26, 2023.Jonathan Ernst | ReutersFederal prosecutors plan to ask a grand jury to...
No silos between principle and rule based regulations, says FM Sitharaman, ET BFSI
Finance Minister Nirmala Sitharaman believes that for regulations in a technology-driven world, solutions have to come from stakeholders and have to encompass both rule-based and principle-based regulations. “Virtues of both sides need to be taken. The intent of any...
Self governance is best growth model, can be implemented with SROs: RBI ED, ET BFSI
The best ecosystem for grow is the self-governance standards that can be prescribed and implemented through the SROs, said Ajay Kumar Choudhary, Executive Director, Reserve Bank of India on the third day to Global FIntech Fest 2023. “Regulations may be proportionate...
Latest news on Russia and the war in Ukraine
Drones target Russian cities, againRussia shot down several drones over the city of Rostov-on-Don in southwest Russia, and near the border with Ukraine, introducing a state of emergency at the site as residents were evacuated and damage assessed.Moscow and Bryansk...
GOP voters in Colorado sue to kick Trump off ballot
Republican presidential nominee Donald Trump takes the stage during a rally at Norris Penrose Equestrian Center in Colorado Springs, October 18, 2016.Rj Sangosti | Denver Post | Getty ImagesA group of Colorado voters filed a lawsuit Wednesday to kick Donald Trump off...
Trump Georgia election trial would take 4 months for all defendants
Former President Donald Trump speaks to the media at Atlanta Hartsfield-Jackson International Airport after surrendering at the Fulton County jail in Atlanta, Georgia, Aug. 24, 2023.Joe Raedle | Getty ImagesA trial for former President Donald Trump and all 18 other...
Trump uses Facebook to fund White House run
Former U.S. President and Republican candidate Donald Trump makes a keynote speech at a Republican fundraising dinner in Columbia, South Carolina, U.S. August 5, 2023. Sam Wolfe | ReutersEver since Meta lifted its two-year ban on former President Donald Trump earlier...
Biden to hail West Coast dockworker union contract as UAW deadline nears
The loading and unloading of cargo freighters has been suspended at all 29 U.S. West Coast ports this weekend because of chronic slowdowns on the docks that shippers and terminal operators have blamed on the dockworkers' union, the companies said Friday.Bob Riha, Jr....
Texas AG Ken Paxton’s impeachment trial begins with a former ally who reported him to the FBI
The impeachment trial of Texas Attorney General Ken Paxton is underway with live television coverage, a former aide who reported him to the FBI on the witness stand and his wife watching from her desk in the state Senate but prohibited from participating.But how much...
Trump suffers big loss in E. Jean Carroll defamation case, judge says he’s liable
E. Jean Carroll, former U.S. President Donald Trump rape accuser, arrives at Manhattan Federal Court for the continuation of the civil case, in New York City, May 9, 2023.Brendan McDermid | ReutersA federal judge on Wednesday ruled that Donald Trump is liable for...
Trump, economy, old age concerns, inflation
President Joe Biden's age and his handling of the economy are two of his greatest weaknesses as the 80-year-old incumbent gears up for a possible rematch with former President Donald Trump, a new poll showed Monday.Those major concerns could be what's dragging Biden's...
Digital World shareholders vote to extend time for deal with Trump media company
Investors in the blank-check acquisition company that plans to merge with former U.S. President Donald Trump's social media firm on Tuesday voted to give the firm an extension of up to one year to complete the Digital World Acquisition Corp (DWAC) deal.After a number...
Biden nominates Jack Lew to be U.S. ambassador to Israel
Jack Lew, former U.S. Treasury secretary, listens at a panel discussion during the spring meetings of the International Monetary Fund and the World Bank in Washington, D.C., April 19, 2018.Andrew Harrer | Bloomberg | Getty ImagesWASHINGTON — President Joe Biden...
‘Cash is confidence boosting measure, backup in case of system failure,’ believes RBI ED, ET BFSI
Cash and digital are co-existing, and there is the need for it to co-exist in the later future too, believes P Vasudevan, Executive Director, Reserve Bank of India.While speaking at the Global Fintech Fest 2023, the RBI ED said while dealing with cash, you've to...
Turkey’s Erdogan says Black Sea grain deal can be revived after Putin talks
WASHINGTON — Turkish President Recep Tayyip Erdogan said following a meeting with Russian President Vladimir Putin on Monday that a resolution to the suspended Black Sea Grain Initiative can be reached "in a short time."The deal — which was brokered between Turkey,...
Biden tests negative for Covid-19 days away from G20 summit
U.S. President Joe Biden leaves following services at St. Edmond's Catholic Church in Rehoboth Beach, Delaware, September 3, 2023.Amanda Andrade-Rhoades | ReutersWASHINGTON — President Joe Biden tested negative Monday night for Covid-19, a day after his wife tested...
Trump statements threaten to prejudice D.C. election jury pool
Source: Fulton County Jail"Daily" statements by former President Donald Trump "threaten to prejudice the jury pool" in the federal case where he is charged with crimes related to trying to reverse his loss in the 2020 election, prosecutors said Tuesday.Prosecutors...
RBI to expand CBDC use in call money market, BFSI News, ET BFSI
NEW DELHI: The Reserve Bank of India (RBI) is looking to expand the use of Central Bank Digital Currency (CBDC) in the call money market, while hoping to reach one million daily transactions by the end of 2023, said a source.The source said that the wholesale CBDC is...
Christie lets Fed off the hook for inflation, blames Trump and Biden
Americans dogged by persistently high prices are finally getting signs of relief as inflation has slowly but steadily cooled over the past year — but that's no thanks to President Joe Biden, according to Republican presidential candidate Chris Christie."Inflation has...
RBI may extend incremental cash reserve ratio with tweaks: Bankers, ET BFSI
The Reserve Bank of India (RBI) may ask lenders to continue maintaining additional cash reserves for two more fortnights, with some tweaks to the proportion, as it seeks to keep liquidity tight amid high inflation, at least six senior treasury officials told...
Latest news on Russia and the war in Ukraine
Russia's invasion of Ukraine becomes a key part of school curriculumRussia's invasion of Ukraine and basic military training for older pupils have become a key part of the country's new school curriculum, according to the U.K.'s Ministry of Defense."Russia's new...
Cross-border Payments Need Consensus:rbi Dy Guv, BFSI News, ET BFSI
Mumbai: RBI deputy governor T Rabi Sankar said that global regulators cannot address problems related to cross-border payments under the current framework of correspondent banking. Speaking at the Global Fintech Fest, Rabi Sankar asked why cross-border payments are...
Congress returns with the clock ticking to avert government shutdown
An American Flag on the U.S. Capitol Building is seen in Washington, August 31, 2023.Kevin Wurm | ReutersA deeply divided Congress returned Tuesday from a monthlong summer vacation with the clock ticking to pass spending legislation to avoid a government shutdown and...
Court rejects Alabama congressional map in racial gerrymandering case
A map of a GOP proposal to redraw Alabama's congressional districts is displayed at the Alabama Statehouse in Montgomery, Ala., Tuesday, July 18, 2023.Kim Chandler | APA panel of three federal judges on Tuesday struck down an Alabama congressional map accused of being...
FAA issues nationwide ground stop for United Airlines flights
A United Airlines plane takes off as the Air Force One planeâs wing is seen at San Francisco International Airport (SFO) in San Francisco, California, United States on June 21, 2023. Tayfun Coskun | Anadolu Agency | Getty ImagesA nationwide ground stop was issued for...
New York AG asks judge to sanction Trump for rehashing failed legal arguments
New York state Attorney General Letitia James speaks at a news conference in New York, Sept. 8, 2022.Caitlin Ochs | ReutersNew York Attorney General Letitia James asked a judge Tuesday to sanction Donald Trump, other defendants, and their lawyers for rehashing the...
Mitch McConnell brain scans found no stroke, seizures, doctor says
U.S. Senate Minority Leader Mitch McConnell (R-KY) leaves his Washington house to return to work at the U.S. Senate, less than a week after he froze for more than 30 seconds while speaking to reporters at an event in his home state of Kentucky, in Washington,...
RBI Board meets for the first time after the release of Q1 GDP numbers, ET BFSI
The Reserve Bank of India Board reviewed reviewed the global and domestic economic situation and associated challenges including the impact of current global geopolitical developments at its 603rd meeting held in Indore.The board meeting chaired by the governor...
Vice President Harris to attend the Southeast Asian nations summit
Vice President Kamala Harris delivers remarks at the top of a meeting on Climate with Cabinet members and leaders at the Association of Southeast Asian Nations (ASEAN) as part of the U.S.-ASEAN Special Summit at the Loy Henderson International Conference Room at the...
RBI firmly focused to bring down inflation to 4 pc: Governor Das, ET BFSI
RBI Governor Shaktikanta Das (File photo)New Delhi, Reserve Bank Governor Shaktikanta Das on Tuesday said the central bank is firmly focused on bringing down inflation to 4 per cent and remains prepared to undertake policy responses to deal with supply shocks, which...
RBI Central Board reviews global, domestic economic situation, ET BFSI
The Central Board of Directors of the Reserve Bank of India on Friday reviewed the global and domestic economic situation and associated challenges, including the impact of current global geopolitical developments. The 603rd meeting of the Board, chaired by Governor...
Proud Boys’ Enrique Tarrio set to be sentenced for role in Jan. 6 riot
Henry "Enrique" Tarrio, leader of The Proud Boys, attends a protest showing support for Cubans demonstrating against their government, in Miami, Florida on July 16, 2021.Eva Marie Uzcategui | AFP | Getty ImagesThe former leader of the far-right group Proud Boys is set...
Sebi does not want any blowup in Alternative Investment Funds, asks AIFs to frame governance code, ET BFSI
Indian private equity houses, venture capital, and angel funds attracting big money from rich investors will have a governance code.The Securities & Exchange Board of India (Sebi), which does not want any blowup in these alternative investment funds (AIFs) that...
U.S. Commerce Secretary Gina Raimondo says she “didn’t pull any punches” during recent visit to China
U.S. Commerce Secretary Gina Raimondo arrives for a meeting with her Chinese counterpart Wang Wentao, at the Ministry of Commerce in Beijing, Monday, Aug. 28, 2023.Andy Wong | Pool | via ReutersU.S. Commerce Secretary Gina Raimondo met with Chinese officials in a...
‘Issue of cross border payments priority area for G20,’ says RBI Governor, ET BFSI
The issue of cross-border payments is a priority area for G20. Notwithstanding the progress made so far, the key challenges to existing cross-border payments continue to be high cost, low speed, limited access, and insufficient transparency, Reserve Bank of India...
RBI allows banks to enable UPI payments through pre-sanctioned credit line, ET BFSI
In yet another move to uplift the UPI, Reserve Bank of India (RBI) has allowed all Scheduled Commercial Banks (SCBs) to enable payments through a pre-sanctioned credit line for individuals, with prior customer consent, for transactions using the UPI (unified payments...
Russia-Ukraine war updates for September 4, 2023
Putin 'happy' that Turkey-Russia relations are becoming 'increasingly diverse'Russian President Vladimir Putin said he was "happy" that the relationship between Turkey and Russia was becoming "increasingly diverse" in remarks made during a meeting between the two...
RBI looking to put more wholesale transactions under e-rupee ambit: Sources, ET BFSI
The Reserve Bank of India is looking to expand the use of central bank digital currency or e-rupee for a broader range of wholesale transactions, according to official sources.“We are planning to use CBDC tokens for interbank call money market,” an RBI source said.The...
Latest news on Russia and the war in Ukraine
Russian oil and gas budget revenues down by a fifth in AugustEuropean countries have been scrambling to find alternative sources of oil and gas following Russia's full-scale invasion of Ukraine in Feb. 2021.Bloomberg | Bloomberg | Getty ImagesRussia's oil and gas...
‘Intensity’ is key to global collaborations, ‘tech’ is common tool: Nirmala Sitharaman, ET BFSI
Finance Minister Nirmala Sitharaman on Tuesday said we are living in a multi-polar world facing many challenges and the necessity in this is to have global collaboration, maybe at a strategic level or otherwise.For these global collaborations, ‘intensity’ is the...
White House asks for $4B boost for FEMA after Idalia, Maui fires
US President Joe Biden speaks the headquarters of the Federal Emergency Management Agency (FEMA) in Washington, DC, on August 31, 2023, thanking the team staffing the FEMA National Response Coordination Center (NRCC) throughout Hurricane Idalia and the fires in Maui,...
Biden ‘forever grateful’ to forces in Afghanistan on exit anniversary
US troops along are seen loading into a C-130 Hercules cargo plane at Forward Operating Base Salerno, Khost province, Afghanistan.Department of Defense photoWASHINGTON — The Biden administration acknowledged on Thursday the two-year anniversary of Afghanistan's fall...
Trump asks to sever Georgia election case from co-defendants
Former President Donald Trump speaks at a fundraiser event for the Alabama GOP in Montgomery, Alabama, Aug. 4, 2023.Butch Dill | APFormer President Donald Trump is seeking to sever his criminal election interference case in Georgia from any of his 18 co-defendants who...
McConnell has ‘lightheadedness’ but can keep working after freezing up
Senate Minority Leader Mitch McConnell is "medically clear" to continue working, the attending physician for the U.S. Congress said one day after the Kentucky Republican froze during a press conference for the second time this summer."Occasional lightheadedness is not...
Biden says he will visit Florida this weekend to survey Idalia damage
An aerial view shows a police vehicle driving along a flooded street in New Port Richey, Florida, after Hurricane Idalia made landfall, Aug. 30, 2023.Miguel J. Rodriguez Carrillo | AFP | Getty ImagesWASHINGTON — President Joe Biden made a surprise trip to the Federal...
FEMA is down to its last $3.4 billion as wildfires, storms slam U.S.
Federal Emergency Management Agency (FEMA) Administrator Deanne Criswell holds a press conference on Hurricane Ian at FEMA Headquarters on September 28, 2022 in Washington, DC.Kevin Dietsch | Getty ImagesThe Federal Emergency Management Agency is running low on money...
Trump Georgia trial will be streamed live, judge rules
In this courtroom sketch, former U.S. President Donald Trump appears on classified document charges after a federal indictment at Wilkie D. Ferguson Jr. U.S. Courthouse, alongside his attorney Chris Kise, in Miami, June 13, 2023.Jane Rosenberg | ReutersWASHINGTON —...
White House asks Congress for short-term funding to avoid shutdown
The U.S. Capitol Building is seen in Washington, D.C., Aug. 16, 2023.Kevin Wurm | ReutersWASHINGTON — The White House on Thursday asked Congress to pass a short-term measure to fund the federal government and avoid a shutdown at the end of September.A spokesperson...
Latest news on Russia and the war in Ukraine
Ukrainian drones attack Russian town near major nuclear power plantA Ukrainian drone attacked a town in western Russia close to one of the country's biggest nuclear power stations.According to a Google translation, Kursk Governor Roman Starovoit on Telegram said that...
Trump pleads not guilty to election charges in Georgia, waives arraignment
Former President Donald Trump speaks with the press at the Iowa Pork Producers booth during the 2023 Iowa State Fair at the Iowa State Fair Grounds on Saturday August 12, 2023. Demetrius Freeman | The Washington Post | Getty ImagesFormer President Donald Trump on...
Clarence Thomas Supreme Court financial disclosure shows travel paid for by GOP megadonor
U.S. Supreme Court Justice Clarence Thomas is seen in his chambers at the U.S. Supreme Court building in Washington, U.S. June 6, 2016.Jonathan Ernst | ReutersSupreme Court Justice Clarence Thomas in a financial disclosure released Thursday said that Republican...
New York attorney general seeks summary judgment
New York Attorney General Letitia James is seen during a public safety announcement to prevent gun violence at City Hall, July 31, 2023.Lev Radin | Pacific Press | Lightrocket | Getty ImagesNew York Attorney General Letitia James asked a judge Wednesday for a partial...
Biden pledges $95 million to shore up Hawaii’s electric grid
U.S. Defense Secretary Lloyd Austin (L) and U.S. Homeland Security Secretary Alejandro Mayorkas (R) look on as President Joe Biden speaks about the government response and recovery efforts in Maui, Hawaii, and the ongoing response on Hurricane Idalia, in the Roosevelt...
How Sebi’s new fee collection mechanism will impact investment advisors, analysts, ET BFSI
Tightening the noose on finfluencers and other unregistered entities, capital markets regulator Sebi has proposed a new mechanism for fee collection by Sebi-registered investment advisers and research analysts (IAs and RAs).Under the new proposed mechanism, Sebi wants...
Sovereign Gold Bond: RBI announces dates for SGB premature redemption dates for October 2023
Sovereign Gold Bonds are denominated in multiples of gram(s) of gold with a basic unit of 1 gram. The tenor of the Bond will be for a period of 8 years with exit option in 5th, 6th and 7th year, to be exercised on the interest payment dates.The RBI issued a press...
Latest news on Russia and the war in Ukraine
Russia sees another barrage of drone attacksA submarine and warships of the Russian Black Sea Fleet lie at anchor in the port city of Sevastopol in 2019.Picture Alliance | Picture Alliance | Getty ImagesRegional official Sergei Aksyonov said air defense forces had...
Russia’s war has triggered food insecurity and instability
Local resident Lubov, 71, carries goods received during a food aid distribution in the village of Lymany, Mykolaiv region, on Jan. 28, 2023, amid the Russian invasion of Ukraine.Genya Savilov | AFP | Getty ImagesWASHINGTON — America's top spy agency says Russia's war...
Mitch McConnell freezes, struggles to speak in second incident this summer
Senate Minority Leader Mitch McConnell, R-Ky., on Wednesday appeared briefly unable to respond to reporters' questions at a press event, marking the second time in weeks that the Republican leader has abruptly stopped speaking and required help from people around...
Judge orders Rudy Giuliani default judgment in election worker lawsuit
Rudy Giuliani speaks outside the Fulton County jail, Wednesday, Aug. 23, 2023, in Atlanta.Brynn Anderson | APA federal judge on Wednesday issued a default judgment against former Trump lawyer Rudy Giuliani and ordered him to pay sanctions of nearly $133,000 in a civil...
Proud Boys Jan. 6 Capitol riot sentencing canceled due to emergency: DOJ
Members of the far-right Proud Boys, including leader Enrique Tarrio (C), rally in support of U.S. President Donald Trump to protest against the results of the 2020 U.S. presidential election, in Washington, November 14, 2020.Hannah McKay | ReutersSentencing hearings...
House Majority Leader Steve Scalise has ‘very treatable’ blood cancer
U.S. House Majority Leader Rep. Steve Scalise (R-La.) listens during a press conference following a House Republican Conference meeting at the U.S. Capitol Building in Washington, D.C., July 18, 2023.Anna Moneymaker | Getty ImagesHouse Majority Leader Steve Scalise...
Trump Georgia prosecutor wants speedy trials done together
Fulton County District Attorney Fani Willis speaks during a news conference at the Fulton County Government building in Atlanta, Aug. 14, 2023.Joshua Lott | The Washington Post | Getty ImagesThe Atlanta district attorney prosecuting the Georgia election interference...
Gang allegedly stole millions pay for murder, guns, drugs
A street gang in Milwaukee allegedly stole millions of dollars in Covid-19 pandemic relief money that was then used to carry out a murder and purchase guns and drugs, among other items, according to a federal indictment.The 43-count indictment charges 30 members of...
How to register, check unclaimed savings account, FD money in these seven banks, ET BFSI
In order to make it easier to track unclaimed deposits from several banks in one location, the Reserve Bank of India (RBI) launched a consolidated web portal dubbed as UDGAM (Unclaimed Deposits – Gateway to Access inforMation). The RBI has been urging the public to...
Latest news on Russia and the war in Ukraine
Kyiv says more than 20 incoming drones and missiles destroyed overnightUkrainian officials said Russia launched a massive, combined strike on the capital Kyiv overnight using attack drones and missiles.The Kyiv City Military Administration said on Telegram Wednesday...
Medicare pricing deal set to play a key role in Biden’s 2024 campaign pitch
US President Joe Biden speaks about lowering healthcare costs, in the East Room of the White House in Washington, DC, on August 29, 2023.Saul Loeb | AFP | Getty ImagesWASHINGTON — President Joe Biden is placing a priority on reducing individual health-care costs as he...
Miami Mayor Francis Suarez suspends presidential campaign
Francis Suarez, mayor of Miami and 2024 Republican presidential candidate, speaks at the Des Moines Register political soapbox during the Iowa State Fair in Des Moines, Iowa, on Friday, Aug. 11, 2023.Rachel Mummey | Bloomberg | Getty ImagesMiami Mayor Francis Suarez...
Former White House economic advisor says more Fed hiking is coming
WASHINGTON — A former White House economist on Tuesday said he thinks the Federal Reserve will hike interest rates again amid rising inflation numbers and energy prices."The hiking is coming again," Kevin Hassett, former chairman of the Council of Economic Advisers...
Where the former president’s 7 big cases stand
Donald Trump is headed into autumn facing an astonishing number of scheduled criminal and civil trials — six, with the distinct possibility of a seventh — within the next nine months as he seeks the Republican presidential nomination.One of those cases, a civil trial...
Commerce secretary says US firms complain China is ‘uninvestable’
U.S. Commerce Secretary Gina Raimondo arrives for a meeting with her Chinese counterpart Wang Wentao, at the Ministry of Commerce in Beijing, Monday, Aug. 28, 2023.Andy Wong | Pool | via ReutersU.S. Commerce Secretary Gina Raimondo said U.S. companies have complained...
Commerce secretary says US firms complain China is ‘uninvestable’
U.S. Commerce Secretary Gina Raimondo arrives for a meeting with her Chinese counterpart Wang Wentao, at the Ministry of Commerce in Beijing, Monday, Aug. 28, 2023.Andy Wong | Pool | via ReutersU.S. Commerce Secretary Gina Raimondo said U.S. companies have complained...
How new RBI rules on floating rate loans benefit borrowers, ET BFSI
When interest rates go up, lenders by default extend the tenure of floating rate loans. The consistent rise in interest rates in the past 15 months has more than doubled the tenures of long-term loans. A 20-year loan taken at 6.7% in April 2022 will now have to be...
Kamala Harris touts strength of labor unions to build the middle class
A woman holds a "Union" sign as members of the Writers Guild of America and the Screen Actors Guild walk a picket line outside Paramount Studios in Los Angeles, July 14, 2023.Chris Delmas | AFP | Getty ImagesWASHINGTON — Unions boost pay 10% to 15% for members and...
RBI may stay pat on rates in October review despite inflation staying high, ET BFSI
Reserve Bank of IndiaThe recently released minutes of the Reserve Bank of India's Monetary Policy Committee meeting have stoked speculations about a rate hike by the central bank in its October meeting to control inflation.However, the Union finance minister Nirmala...
State Department picks veteran diplomat Mark Lambert as top China policy official
American flags during the Road to Majority's Faith and Freedom policy conference in Washington, DC, US., on Saturday, June 24, 2023.Nathan Howard | Bloomberg | Getty ImagesThe U.S. State Department has picked veteran diplomat Mark Lambert as...
RBI governor-headed FSDC-SC resolves to remain vigilant against external vulnerabilities, ET BFSI
RBI Governor Shaktikanta Das-headed Sub-Committee of the Financial Stability and Development Council (FSDC-SC) on Monday resolved to remain vigilant against any build-up in vulnerabilities in the financial system as well as in the broader economy amid uncertain global...
Sebi notifies new ‘fit and proper’ criteria for exchanges, clearing corps, ET BFSI
Capital markets regulator Sebi has tweaked its framework regarding 'fit and proper' criteria for stock exchanges and other market infrastructure institutions, whereby any direction passed against such institutions will not affect their operations. The new rules are...
Latest news on Russia and the war in Ukraine
Russia downs Ukrainian drones over Tula and Belgorod, Kremlin saysRussian forces downed a series of drones over the regions of Tula and Belgorod overnight, according to a Google-translated post on the country's Ministry of Defense Telegram account.The Ukrainian drones...
Electric utilities face billions in liability with aging lines
Electrical workers repair power lines leading into the fire ravaged town of Lahaina on the island of Maui in Hawaii, August 15, 2023.Mike Blake | ReutersElectric companies in the western U.S. are facing mounting lawsuits alleging that their failure to prepare for...
Hawaiian Electric points finger at Maui County over wildfires
Search and recovery team members check charred buildings and cars in the aftermath of the Maui Fires in Lahaina, West Maui, Hawaii, August 17, 2023. Yuki Iwamura | AFP | Getty ImagesHawaiian Electric is pushing back against a lawsuit filed by Maui County last week...
Biden signs state of emergency in Florida
Zoom In IconArrows pointing outwardsWASHINGTON — President Joe Biden approved an emergency declaration for Florida as Tropical Storm Idalia approaches and strengthens.Idalia is projected to grow to a Category 3 hurricane as it approaches the Florida coast, Florida...
Judge rejects Trump bid to push federal election trial to 2026
Former President Donald Trump speaks with the press at the Iowa Pork Producers booth during the 2023 Iowa State Fair in Des Moines, Iowa, Aug. 12, 2023.Demetrius Freeman | The Washington Post | Getty ImagesThe federal judge presiding over Donald Trump's criminal...
Trump arraignment set for Sept. 6 in Georgia election case
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 ImagesDonald Trump will be arraigned Sept. 6 in Atlanta in...
Latest news on Russia and the war in Ukraine
Russian billionaire pleads for sanctions relief after criticizing war: FTArkady Volozh, billionaire and co-founder of Yandex, speaks during a panel session at the annual VTB Capital "Russia Calling" Forum in Moscow, Russia, on Nov. 20, 2019.Andrey Rudakov | Bloomberg...
What SEBI’s proposed rules for finfluencers mean for retail investors, ET BFSI
Given the increasing number of unregistered financial influencers, commonly known as “finfluencers”, the Securities and Exchange Board of India (SEBI) seeks to curb the association of registered intermediaries and regulated entities with such influencers to safeguard...
Raimondo meets Chinese officials as countries seek more stable relationship
U.S. Commerce Secretary Gina Raimondo speaks during a Reuters interview at the Department of Commerce in Washington, September 23, 2021.Kevin Lamarque | ReutersU.S. Secretary of Commerce Gina Raimondo is set to meet with senior Chinese officials and U.S. business...
RBI in tight spot as interest rate differential with US narrows, ET BFSI
The Federal Reserve's latest move to raise its policy rate, marking the 11th increase in 12 meetings, has sparked widespread discussion in economic circles. The overnight interest rate at 5.25%-5.50% now stands at its highest level in 22 years, prompting the European...
USTR Katherine Tai says U.S.-India relationship has reached new heights
Katherine Tai, U.S. Trade Representative on the first day of the three-day B20 Summit in New Delhi, India.Sajjad Hussain | Afp | Getty ImagesU.S. Trade Representative Katherine Tai said the U.S.-India relationship is reaching new heights as the two align "across all...
Trump campaign reports raising more than $7 million after Georgia booking
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 ImagesFor former President Donald Trump, a picture is...
China rare earths dominance makes U.S. supply chains vulnerable
China's dominance in rare earths makes U.S. supply chains vulnerable, U.S. Trade Representative Katherine Tai said in an exclusive interview Saturday with CNBC's Martin Soong.Rare earth metals are used in high-tech products such as electric car motors. Over the...
Govt to take up with RBI penal charges imposed by bank, BFSI News, ET BFSI
NEW DELHI: The government is expected to take up the issue of penal charges levied by banks for non-maintenance of minimum balance with the Reserve Bank of India, as these yielded Rs 21,000 for state-run and private lenders over the last five years.While a government...
Tens of thousands expected for March on Washington’s 60th anniversary demonstration
Martin Luther King III, along with his wife, Arndrea Waters King, and their 15-year-old daughter, Yolanda, have developed a set of traditions for this time of the year.Each August, they rewatch the Rev. Martin Luther King Jr.'s rapturous address to the 1963 March on...
increasing immigration could help solve labor crisis: economists
The U.S. had more than 9 million open roles in June, and while that’s down from the peak of 12 million in March 2022, it’s still among the highest number of openings we’ve had since before 2000.“You're talking about passing up something like $1 trillion in production...
Sebi comes out with guidelines for exchanges’ MDs, CEOs to boost cyber security, ET BFSI
Markets regulator Sebi on Friday came out with fresh guidelines for managing directors or chief executive officers of stock exchanges and other market infrastructure institutions to boost cyber security and cyber resilience. The new framework will come into force with...
MPC member Jayanth Varma, ET BFSI
The ongoing phase of high inflation will not last beyond a few months as monetary policy is tight enough to keep food price shocks from feeding into broader price pressures, said Jayanth Varma, external member of the Monetary Policy Committee (MPC). In an interview to...
Putin orders mercenaries pledge to Russia after Prigozhin’s reported death
Russian President Vladimir Putin enters the St. George Hall at the Grand Kremlin Palace in Moscow.Mikhail Klimentyev | AFP | Getty ImagesWASHINGTON — Russian President Vladimir Putin signed a decree Friday requiring all mercenaries to swear allegiance to Russia, a...
MPC member Ashima Goyal, ET BFSI
Recent food price surges are unlikely to translate into generalised inflation because while the government is spending to contain food prices, it is also keeping a close watch on its fiscal deficit, Ashima Goyal, external member of the Monetary Policy Committee, told...
Trump valet’s lawyer received threats after special counsel bombshell
Walt Nauta, personal aide to former U.S. President Donald Trump, arrives at Alto Lee Adams Sr. U.S. Courthouse, in Fort Pierce, Florida, U.S. August 10, 2023.Marco Bello | ReutersThe defense attorney for Donald Trump's valet Walt Nauta complained Friday that he...
Biden administration unveils new crypto tax reporting rules
Bitcoin, the world's largest cryptocurrency, has been stealthily rising in 2023.Chris Ratcliffe | Bloomberg | Getty ImagesCryptocurrency brokers, including exchanges and payment processors, would have to report new information on users' sales and exchanges of digital...
Hawaii calls for tourists to visit Maui as unemployment claims surge
Supplies for Lahaina fire victims are gathered and delivered by Hawaiians sailing on a large catamaran who often sail around the world together to Lahaina neighborhoods.Robert Gauthier | Los Angeles Times | Getty ImagesOfficials in Hawaii are encouraging tourists to...
Trump co-defendant Floyd still in custody in Georgia election case
Harrison Floyd jail booking photo, Fulton County, GeorgiaFulton County Sheriff's OfficeCourt records Friday showed a hearing being set for Harrison Floyd, a co-defendant in former President Donald Trump's election interference case in Georgia who has been held in...
Maui names 388 people who are still missing
Fire damage is seen from US President Joe Biden's motorcade in Lahaina, Hawaii, on August 21, 2023.Mandel Ngan | AFP | Getty ImagesMaui police and the FBI have named 388 people who are still missing nearly three weeks after the deadly wildfires that destroyed the town...
FM Nirmala Sitharaman, ET BFSI
Central banks need to be cognizant of growth- and growth-related priorities even while equally looking at curbing inflation, finance minister Nirmala Sitharaman said Friday, while highlighting the unnecessary priority given to interest rates as a policy tool to curb...
More defendants surrender, 2 remaining
Former President Donald Trump speaks with reporters before departure from Hartsfield-Jackson Atlanta International Airport, Thursday, Aug. 24, 2023, in Atlanta.Alex Brandon | APFive more co-defendants of Donald Trump surrendered at an Atlanta jail by early Friday...
RBI Guv Shaktikanta Das asks NBFCs to strengthen governance standards, ET BFSI
Reserve Bank Governor Shaktikanta Das on Friday asked non-banking financial companies (NBFCs), including housing finance companies, to strengthen governance standards and assurance mechanisms. The governor held a meeting with MD & CEOs of select large NBFCs....
Trial of Trump Georgia case co-defendant to begin in October
Former U.S. President Donald Trump's campaign attorney Kenneth Chesebro is shown in a police booking mugshot released by the Fulton County Sheriff's Office, Atlanta, Aug. 23, 2023.Source: Fulton County Sheriff's OfficeA Georgia judge on Thursday scheduled the first...
Hawaiian Electric stock falls after Maui County sues for damages
A general view shows damage in the fire ravaged town of Lahaina on the island of Maui in Hawaii, U.S., August 15, 2023. Mike Blake | ReutersMaui County on Thursday sued Hawaiian Electric for damages over the deadly wildfires that have claimed more than100 lives and...
Latest news on Russia and the war in Ukraine
U.S. to train F-16 pilots in October, Pentagon saysF-16 fighter jet flying during a military parade in Warsaw.Nurphoto | Getty ImagesThe United States will begin flight training for Ukrainian pilots on F-16 fighter jets in October, the Pentagon said Thursday.The...
Putin says Prigozhin ‘made serious mistakes’ in first remarks since crash
Yevgeny Prigozhin, the owner of the Wagner Group military company, arrives during a funeral ceremony at the Troyekurovskoye cemetery in Moscow, Russia, Saturday, April 8, 2023.APWASHINGTON — Russian President Vladimir Putin broke his silence Thursday in quick,...
Donald Trump to be arrested in Georgia: Live updates
Many of Trump's co-defendants have already surrenderedMore than half of Trump's 18 co-defendants have already surrendered at Fulton County jail.The most recent addition to the list was Mark Meadows, Trump's former White House chief of staff, who was booked and...
Trump chief Mark Meadows, lawyer Jeffrey Clark get $100,000 bonds in GA
Former White House Chief of Staff during the Trump administration Mark Meadows speaks during a forum titled House Rules and Process Changes for the 118th Congress at FreedowmWorks headquarters on November 14, 2022 in Washington, DC.Drew Angerer | Getty ImagesFormer...
Trump Georgia election prosecutor seeks Oct. 23 trial start
Fulton County District Attorney Fani Willis speaks to the media 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 Atlanta, Georgia, U.S. August 14,...
Ramaswamy shines, Trump looms large
Republican presidential candidate and former biotech executive Vivek Ramaswamy gestures at the first Republican candidates' debate of the 2024 U.S. presidential campaign in Milwaukee, Wisconsin, August 23, 2023.Brian Snyder | ReutersPolitical novice Vivek Ramaswamy's...
Trump Georgia election case target of House Republican probe
Fulton County District Attorney Fani Willis speaks to the media after a Grand Jury brought back indictments against former President Donald Trump and 18 of his allies in their attempt to overturn the state's 2020 election results, in Atlanta, Georgia, August 14,...
GOP comments on reducing military aid ‘concerning’
Ukrainian lawmaker Lesia Vasylenko on Thursday said some U.S. Republican presidential candidate comments over support for her country are concerning."With some of the United States politicians claiming that they will reduce the support to Ukraine, well, that's...
Trump changes lawyers in Georgia election case ahead of arrest
Former President Donald Trump speaks with the press at the Iowa Pork Producers booth during the 2023 Iowa State Fair at the Iowa State Fair Grounds on Saturday August 12, 2023. Demetrius Freeman | The Washington Post | Getty ImagesDonald Trump is changing lawyers in...
Giuliani’s son turns to Trump for help with father’s legal bills
Former New York City Mayor Rudy Giuliani, an attorney for former President Donald Trump during challenges to the 2020 election results, exits U.S. District Court after attending a hearing in a defamation suit brought against Giuliani by two Georgia election workers,...
GOP donors plan private jet travel, top hotels
Republican debate signage ahead of the Republican primary presidential debate hosted by Fox News in Milwaukee, Wisconsin, US, on Tuesday, Aug. 22, 2022. Bloomberg | Bloomberg | Getty ImagesWealthy Republican political donors will receive the VIP treatment at Wednesday...
Ukraine war divides Republicans heading into first GOP debate
President of Ukraine Volodymyr Zelenskyy visits the Kharkiv region for the first time since Russia started attacks against his country, on May 29, 2022.Ukrainian Presidency | Anadolu Agency | Getty ImagesWASHINGTON — The Republican primary debate in Milwaukee...
Defendants in Trump Georgia election interference case
The Atlanta jail processing the co-defendants of former President Donald Trump in his Georgia election interference case is releasing mugshots after each of them is booked.Trump will have his photograph taken at the Fulton County Jail when he surrenders to face...
Judge denies Trump ex-chief Meadows’ bid to avoid arrest in Georgia
Former Rep. Mark Meadows, R-N.C., speaks during a forum on House and GOP Conference rules for the 118th Congress, at the FreedomWorks office in Washington, D.C., on Monday, November 14, 2022. Tom Williams | Cq-roll Call, Inc. | Getty ImagesA judge on Wednesday denied...
Christie, Pence and Haley pile on Ramaswamy
Ramaswamy: U.S. support for Ukraine is 'disastrous'Former biotech executive Vivek Ramaswamy speaks at the first Republican candidates' debate of the 2024 U.S. presidential campaign in Milwaukee, Wisconsin, August 23, 2023.Brian Snyder | ReutersVivek Ramaswamy said...
Outward LRS remittances shoot up 50% to $9.1 billion in Q1 as TCS deadline nears, ET BFSI
The government has extended the timeline for the implementation for an increase in tax collected at source on LRS to 20% from 5% now to October 1, 2023.The Reserve Bank of India's (RBI) liberalised remittance scheme (LRS) has witnessed a substantial uptick, with...
Latest news on Russia and the war in Ukraine
Zelenskyy hails Ukrainians as 'free people' on country's Independence DayUkrainian President Volodymyr Zelenskyy hailed Ukrainians as "free people" on Thursday as his country marks its independence day."Happy Ukraine's Independence Day!" Zelenskyy wrote in a post on...
Hundreds charged with fraud totaling more than $830 million
U.S. Attorney General Merrick Garland and Deputy U.S. Attorney General Lisa Monaco convene the coronavirus disease (COVID-19) Fraud Enforcement Task Force at the Justice Department in Washington, U.S., March 10, 2022.Kevin Lamarque | ReutersFederal law enforcement...
More defendants in Trump Georgia election case surrender
Sydney Powell, attorney for President Donald Trump, conducts a news conference at the Republican National Committee on lawsuits regarding the outcome of the 2020 presidential election on Thursday, November 19, 2020. Trump attorneys Rudolph Giuliani and Jenna Ellis,...
Trump lawyer Rudy Giuliani to surrender in Georgia election case
Former Mayor of New York Rudy Giuliani speaks to reporters as he leaves his apartment building in New York, Wednesday, Aug. 23, 2023.Seth Wenig | APFormer Trump campaign lawyer Rudy Giuliani landed in Atlanta on Wednesday to surrender on charges he conspired to...
More than 1,000 people reported missing in Maui
LA County Fire urban search and rescue crew members Nicholas Bartel, right, with cadaver dog Six, and Eddie Ruiz with Harper, are photographed while on a break from searching the rubble of Lahaina. Robert Gauthier | Los Angeles Times | Getty ImagesLaw enforcement...
Burgum injured playing basketball, may have to skip Republican debate
Republican U.S. presidential candidate and North Dakota Governor Doug Burgum speaks during Fair-Side Chat with Governor of Iowa Kim Reynolds (not pictured), at the Iowa State Fair in Des Moines, Iowa, August 11, 2023.Evelyn Hockstein | ReutersNorth Dakota Gov. Doug...
Trump co-defendants in Georgia face massive legal bills
Republican presidential candidate and former U.S. President Donald Trump speaks as he campaigns at the Iowa State Fair in Des Moines, Iowa, U.S. August 12, 2023. Evelyn Hockstein | ReutersAs former President Donald Trump and his army of lawyers prepare for his formal...
Trump ex-aide Meadows asks judge to protect him in Georgia case
White House Acting Chief of Staff Mark Meadows listens during the daily coronavirus task force briefing at the White House in Washington, D.C., April 18, 2020.Al Drago | ReutersFormer Trump chief of staff Mark Meadows asked a federal judge Tuesday to immediately move...
Hawaii wildfires caused up to $6 billion in economic losses
Destroyed homes and cars are shown in Lahaina, Hawaii, Aug. 13, 2023.Rick Bowmer | APThe catastrophic wildfires in Maui, Hawaii, have caused between $4 billion and $6 billion in economic losses, according to an estimate by Moody's RMS on Tuesday.The estimate looked at...
Latest news on Russia and the war in Ukraine
UK reportedly set to proscribe Wagner a terrorist groupThe U.K. is set to proscribe Russia's Wagner mercenary group as a terrorist organization "within weeks," the FT reported British government officials as saying.British Home Secretary Suella Braverman is expected...
Italy’s far-right leader is shocking markets
Italian Prime Minister Giorgia Meloni.Antonio Masiello | Getty Images News | Getty ImagesAfter plunging into the political mainstream and winning over her more moderate counterparts in Brussels, hardline Italian Prime Minister Giorgia Meloni is now shaking things up...
Trump should face election charges, most Americans agree: Poll
Former President Donald Trump arrives at Ronald Reagan Washington National Airport in Arlington, Virginia, Aug. 3, 2023.Tom Brenner | The Washington Post | Getty ImagesMost Americans support the decision by special counsel Jack Smith to prosecute former President...
Inflation Reduction Act investments to go to underserved communities
Rep. Sean Patrick Maloney, D-N.Y., stands silently during a press conference on the Inflation Reduction Act at Glynwood Boat House in Cold Spring, New York, Aug. 17, 2022.Michael M. Santiago | Getty ImagesWASHINGTON — The Treasury Department on Wednesday announced...
Biden takes a victory lap a year after signing Inflation Reduction Act
U.S. President Joe Biden gives a fist bump salute to the audience during an event to celebrate the anniversary of his signing of the 2022 Inflation Reduction Act legislation, in the East Room of the White House in Washington, August 16, 2023.Kevin Lamarque |...
Lawmakers eye sale of recalled baby products on Facebook in safety push
Jaap Arriens | Nurphoto | Getty ImagesWASHINGTON — House lawmakers cited the continuing sale of recalled baby products linked to infant deaths on Meta's Facebook in a round of letters to 17 companies questioning compliance with U. S. Consumer Product Safety Commission...
Russia-Ukraine war updates for Aug.17, 2023
Thu, Aug 17 202311:26 AM EDTU.S. imposes sanctions on four Russians linked to FSB over Navalny poisoningThe United States on Thursday imposed sanctions on four Russians it accused of being involved in the 2020 poisoning of now jailed Russian opposition leader Alexei...
Trump documents case judge sets hearing on protective order
Aileen M. Cannon, United States District Judge, Southern District of FloridaCourtesy: US CourtsA Florida federal judge on Thursday said she would hold a hearing sealed from the public to discuss prosecutors' request for an order to protect classified material at the...
Trump ally John Eastman surrenders at Georgia jail in election case
John Eastman, the University of Colorado Boulders visiting scholar of conservative thought and policy, speaks about his plans to sue the university at a news conference outside of CU Boulder on Thursday, April 29, 2021. Andy Cross | Denver Post | Getty ImagesJohn...
House Republicans subpoena Citibank over data shared after Jan. 6
Chairman Jim Jordan, R-Ohio, conducts the House Judiciary Committee hearing on the Report of Special Counsel John Durham, in the Rayburn Building, Washington, D.C., June 21, 2023.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesWASHINGTON — House Judiciary Committee...
Trump Georgia election case: First defendant surrenders
Vehicles drive into an entrance to the Fulton County Jail on August 21, 2023 in Atlanta, Georgia.Joe Raedle | Getty ImagesThe first of the 19 co-defendants in the Georgia election interference case against former President Donald Trump surrendered for booking at a...
DeSantis group’s memo reveals possible debate strategy
Florida Gov. Ron DeSantis, a 2024 Republican presidential hopeful, speaks with residents in border-adjacent communities during a campaign event in Eagle Pass, Texas, June 26, 2023.Suzanne Cordeiro | AFP | Getty ImagesThe main super PAC backing Ron DeSantis'...
Ex-president’s attacks could hasten criminal trials
Former U.S. President and Republican candidate Donald Trump makes a keynote speech at a Republican fundraising dinner in Columbia, South Carolina, Aug. 5, 2023.Sam Wolfe | ReutersFormer President Donald Trump has ramped up his rhetoric and vowed to keep speaking out...
Treasury issues new sanctions for 2020 poisoning of Alexei Navalny
A screen shows the already imprisoned Russian opposition figure Alexei Navalny (2L) as he listens to his verdict over a series of extremism charges at the IK-6 penal colony, a maximum-security prison some 155 miles east of Moscow, in the settlement of Melekhovo in the...
Pro-Trump lawyer Eastman gets $100k bond in Georgia election case
John Eastman, former lawyer to Donald Trump, speaks to members of the media after leaving the State Bar Court of California in Los Angeles, California, US, on Tuesday, June 20, 2023.Eric Thayer | Bloomberg | Getty ImagesAttorney John Eastman on Monday was ordered to...
Trump bid for 2026 election case trial is faulty: Special counsel
Special counsel Jack Smith speaks to members of the media at the US Department of Justice building in Washington, DC, on August 1, 2023.Saul Loeb | AFP | Getty ImagesSpecial counsel Jack Smith argued Monday that there was no good reason why Donald Trump's federal...
Latest news on Russia and the war in Ukraine
BRICS summit begins; foreign minister to represent RussiaSouth African police officers walk in front of an event banner outside the venue for the BRICS summit at the Sandton Convention Center in the Sandton district of Johannesburg, South Africa, on Monday, Aug. 21,...
Trump’s bond in Georgia election case set at $200,000
Former U.S. president and 2024 presidential hopeful Donald Trump leaves after speaking at the Iowa State Fair in Des Moines, Iowa, Aug. 12, 2023.Stefani Reynolds | AFP | Getty ImagesA judge set former U.S. President Donald Trump's bond at $200,000 in the Georgia...
Hawaii taps outside investigator as wildfire response scrutiny grows
The photo taken with a mobile phone on Aug. 14, 2023 shows a vehicle destroyed in a wildfire in Lahaina town, Maui Island, Hawaii, the United States.Yang Pingjun | Xinhua News Agency | Getty ImagesHawaii will hire an independent investigator to look into how state and...
Biden hosts leaders of Japan and South Korea at Camp David meeting
U.S. President Joe Biden, Japan's Prime Minister Fumio Kishida, and South Korea's President Yoon Suk Yeol gather for a trilateral meeting during the G7 Leaders' Summit in Hiroshima on May 21, 2023. (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images)Brendan Smialowski |...
Maui emergency chief resigns after not activating sirens during wildfire
In this image taken from video, Maui Emergency Management Agency Administrator Herman Andaya speaks during a news conference in Wailuku, Hawaii, Wednesday, Aug. 16, 2023.AP | Mike HouseholderThe head of Maui County's emergency management agency resigned on Thursday, a...
Tropical Storm Hilary drenches Southern California
A driver whose car stalled out on flooded Avenue 48 gets bottled water from a passing motorist while waiting for help during tropical storm Hilary on August 20, 2023 in Coachella, California.Gina Ferazzi | Los Angeles Times | Getty ImagesCalifornia was bracing for...
Biden to visit Maui, where 850 are still missing
U.S. President Joe Biden and first lady Jill Biden board a plane as they depart for Maui from Reno, Nevada, U.S., August 21, 2023. Kevin Lamarque | ReutersPresident Joe Biden will visit Maui on Monday, as authorities race to locate and recover nearly 850 people who...
Trump leads DeSantis in Iowa poll ahead of first Republican debate
This combination of 2023 photos shows, from left, former President Donald Trump, Florida Gov. Ron DeSantis, former U.N. Ambassador Nikki Haley, former Vice President Mike Pence and South Carolina Sen. Tim Scott.Charlie Neibergall, Meg Kinnard | APFormer President...
U.S. approves shipments of F-16s to Ukraine in major gain for Kiev
The United States has given its approval for the Netherlands and Denmark to deliver F-16s to Ukraine, officials in Washington and Europe said Friday, in a major gain for Kyiv, even though the fighter jets are unlikely to affect the war any time soon.It was not...
Russia-Ukraine war updates for Aug.18, 2023
Russia says it downed a Ukrainian drone in MoscowRussia says that it downed a Ukrainian drone in the center of Moscow.Moscow mayor Sergei Sobyanin said in a Telegram post that drone debris fell near the Expocentre Fairgrounds, located in the Moscow City complex, home...
Judge denies Trump request to delay E. Jean Carroll trial
Former Elle magazine advice columnist E. Jean Carroll watches as Joe Tacopina, lawyer of former U.S. President Donald Trump, makes closing arguments during a civil trial where Carroll accuses Trump of raping her in a department store dressing room in the mid-1990s,...
RBI warns of asset price bubbles due to sloshing liquidity, explains I-CRR move, ET BFSI
The Reserve Bank of India has warned of asset price bubbles while explaining why it went for an incremental cash reserve ratio (I-CRR). In its State of the Economy report, it said that the recent developments, including the return of Rs 2,000 banknotes overwhelmingly...
ATF team with electrical engineer investigating cause
Search and rescue crews look through the remains of a neighborhood on August 17, 2023 in Lahaina, Hawaii. Justin Sullivan | Getty ImagesThe Bureau of Alcohol, Tobacco, Firearms and Explosives is deploying a team that includes an electrical engineer to investigate the...
Reserve Bank nudges banks to settle UAE trades in rupee, dirham: Sources, ET BFSI
India's central bank is nudging local banks to ask their clients to settle trade between the United Arab Emirates and India using the dirham (AED) or Indian rupee (INR) to reduce U.S.-dollar-based transactions, five sources told Reuters.The move is part of the Reserve...
Disney seeks damages from DeSantis board for contract breach
Disney CEO Bob Iger, left, and Florida Gov. Ron DeSantis.David A. Grogan | CNBCFlorida Gov. Ron DeSantis may say he's "moved on" from his long-running feud with Disney, but the House of Mouse isn't easing up.Disney has filed counterclaims, including a breach of...
Latest news on Russia and the war in Ukraine
Flights at four airports in the Moscow region briefly suspended for civil safetyFlights to Moscow's four international airports — Vnukovo, Domodedovo, Sheremetyevo and Zhukovsky — were suspended on Monday to ensure civil safety, Russia's Federal Agency for Air...
Top GOP voice on China threat says investment restrictions fall short
WASHINGTON — A leading House Republican voice on the national security threat posed by China said the White House's plan to restrict outbound investment in the Chinese military and defense companies falls short of addressing the real problem.President Joe Biden's...
All eyes now on Federal Reserve Chief Powell in Jackson Hole, ET BFSI
It's late August, which means we're headed to Jackson Hole for the Kansas City Fed's annual symposium, attended by top central bankers from around the world. And as usual, everyone is wondering in particular just what Fed Chair Jerome Powell - who's expected to speak...
Biden to reassure Maui’s Lahaina residents they will control rebuilding after devastating wildfires
US President Joe Biden and First Lady Jill Biden step off Air Force One upon arrival at Reno-Tahoe International Airport, Reno, Nevada on August 18, 2023.Mandel Ngan | AFP | Getty ImagesU.S. Federal Emergency Management Agency Director Deanne Criswell said on Sunday...
How RBI’s new reset leeway on floating-rate loans would work, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has directed banks and Non-Banking Financial Companies (NBFCs) to offer an option to borrowers with floating-rate loans. This option allows borrowers to switch to fixed-rate interest rates during the loan reset, following the...
China cuts key interest rate to support economy, BFSI News, ET BFSI
China's central bank on Monday cut a key interest rate in an attempt to counter the post-Covid growth slowdown in the world's second-largest economy.The one-year loan prime rate, which serves as a benchmark for corporate loans, was reduced from 3.55 percent to 3.45...
RBI issues new guidelines for fair lending practices, ET BFSI
Reserve Bank of India.The Reserve Bank of India (RBI) has issued comprehensive guidelines regarding penal charges in loan accounts in an effort to promote fairness, transparency, and accountability in the lending practices of financial institutions.These guidelines...
RBI signals intent to soon return funds sucked via incremental CRR hike, ET BFSI
The Reserve Bank of India has signalled that it is most likely to soon return the impounded funds due to the temporary hike in the cash reserve ratio. In its August monthly bulletin, the central bank said “the intent is to return the impounded funds ahead of advance...
RBI report, BFSI News, ET BFSI
MUMBAI: The lingering impact of supply shocks is far from over. The increase in vegetable prices has extended into the first half of August, prompting expectations of headline inflation averaging 'well above 6%' in the second quarter, a report published by RBI said....
RBI bought net $4.50 bln in spot forex market in June, BFSI News, ET BFSI
The Reserve Bank of India (RBI) bought a net $4.50 billion in the spot foreign exchange market in June, data released on Thursday as part of the central bank's monthly bulletin showed.The RBI purchased $7.79 billion and sold $3.28 billion, the bulletin showed. In May,...
India needs major supply side reforms to check wild swings in vegetable prices: RBI report, ET BFSI
India needs major supply side reforms to check the wild swings in vegetable prices which put the inflation calculation in jeopardy, even as the world's fifth largest economy is expected to regain momentum in the second quarter, offsetting the exports contraction on...
RBI struck off provision of levying interest on penal charges on loans, ET BFSI
In a significant move, the Reserve Bank of India has released guidelines on disclosure of penal interest saying the penalty for non-compliance with the terms of the loan by the borrower shall be treated as "penal charges" and not as "penal interest" that is added to...
UDGAM portal to help customers track unclaimed deposits in banks, ET BFSI
Reserve Bank of India (RBI) launched UDGAM – Unclaimed Deposits Gateway to Access inforMation – to tap the unclaimed deposits in the country.The portal was developed by RBI for use by members of public to facilitate and make it easier for them to search their...
RBI launches UDGAM, centralised web portal for searching unclaimed deposits, ET BFSI
The Governor, Reserve Bank of India, has launched a Centralised Web Portal called UDGAM (Unclaimed Deposits – Gateway to Access inforMation). The UDGAM portal has been developed by RBI for use by members of public to facilitate and make it easier for them to search...
India August retail inflation expected below 7%
By Savio ShettyMUMBAI - India's annual retail inflation in August is expected to fall below 7% after unexpectedly rising to a 15-month-high of 7.44% in July, an economist at Motilal Oswal said on Thursday.Retail inflation rose as of last count as prices of vegetables...
RBI’s ICRR move set to goad banks to tap short-term bond mart, raising rates, ET BFSI
Rates on short-term debt instruments are predicted to climb by an additional 5-10 basis points in the coming days following the decision by the Reserve Bank of India (RBI) to introduce an incremental cash reserve ratio (CRR) for banks. The move aims to address the...
Rbi Kicks Off Digital Lending Pilot Project, BFSI News, ET BFSI
RBI has started a pilot project for its ‘public tech platform’ that will enable banks to grant loans digitally. Banks and finance companies will be able to tap into prospective borrowers’ data using a single platform from central and state governments, account...
Why RBI is bringing out an EMI resetting framework on floating-rate loans, ET BFSI
The Reserve Bank of India (RBI) is in the process of establishing a comprehensive framework to regulate the adjustment of interest rates for floating-interest loans. The proposed regulations will require lenders to maintain clear and transparent communication with...
RBI may not act in a hurry despite a surge in CPI, ET BFSI
The fears of adverse impact of El Nino has reduced in India, improving the prospects of Kharif output in the coming months. But the risks from oilseeds and pulses inflation may add to consumer inflation. The Reserve Bank may still prefer to pause till the next fiscal...
RBI to launch pilot for ‘Public Tech Platform’ on Aug 17, BFSI News, ET BFSI
Mumbai, The Reserve Bank will launch a pilot project for 'Public Tech Platform' that seeks to facilitate credit through seamless flow of required digital information to lenders. During the pilot, the platform would focus on products such as Kisan Credit Card loans of...
RBI asks banks to properly communicate resetting the tenor of loans, ET BFSI
Home loan borrowers are often left at sea when their banks reset the tenor of the loans without proper communication to them. However, now help is at hand as the Reserve Bank of India (RBI) has made it mandatory for banks and home loan providers to clearly communicate...
Private sector should also fund GPGs to aid inclusion: Shaktikanta Das, ET BFSI
MUMBAI: The central bank governor Friday urged India’s private sector to help build commercially viable public infrastructure so that the broader social objective of deepening financial inclusion is achieved.Terming the Unified Payments Interface (UPI), a public...
Consumer confidence saw slight decline, says RBI survey, BFSI News, ET BFSI
Consumer confidence saw slight decline, says RBI surveyAfter persistent recovery for almost two years, consumer confidence for the current period, as reflected in the current situation index (CSI), stood a shade lower than that witnessed in the previous survey round,...
RBI governor Shaktikanta Das moots global debt data-sharing platform, ET BFSI
The Reserve Bank of India Governor Shaktikanta Das gave three suggestions for significant progress for the G20-led initiatives such as the Common Framework for Debt Treatment and the Debt Service Suspension Initiatives. He said that it is essential that debt...
Rbi: India cenbank’s incremental CRR move a surprise, policy signal
By Savio Shetty- The Reserve Bank of India's (RBI) move to ask banks to maintain additional cash reserve ratio (CRR) came as a surprise and could be used as a policy tool, an economist at Standard Chartered Bank said on Friday.The RBI asked banks to hold an...
RBI governor pitches for expeditious completion of quota review at IMF, ET BFSI
MUMBAI: Reserve Bank Governor Shaktikanta Das on Friday pitched for the "expeditious completion" of the general review of quotas at the International Monetary Fund (IMF), pointing out that the same can help the body help distressed countries better.Speaking at a...
Markets fall as investors turn cautious ahead of RBI monetary policy review, US inflation data later this week, ET BFSI
MUMBAI: Benchmark equity indices fell on Tuesday as investors turned cautious ahead of the key events -- RBI's monetary policy and the US inflation data -- due to be announced later this week.Continuous foreign fund outflows and weak trend in Asian and European...
Put in place online customs refund system along lines of GST, CAG asks Finance Ministry, ET BFSI
The CAG observed that the Central Board of Indirect Taxes and Customs in February 2014 stated that testing of a module for daily update of exchange rate through message exchange with State Bank of India (SBI) had been completed and commissioning of the same can be...
Sebi looks to introduce disclosure requirements for unlisted companies, ET BFSI
Capital markets regulator Sebi is looking to introduce disclosure requirements for unlisted companies, which are part of a business conglomerate. While listed entities are subject to comprehensive disclosure requirements, the same levels of disclosure requirements are...
RBI may extend rate pause to fight food inflation, BFSI News, ET BFSI
India’s central bank is expected keep its benchmark rate and policy stance unchanged for a third consecutive meeting to support growth while food inflation accelerates in Asia’s third largest economy.All 42 economists in a Bloomberg survey forecast the Reserve Bank of...
RBI to banks, ET BFSI
MUMBAI: The Reserve Bank of India (RBI) Thursday asked banks to double down efforts to maximise recovery from written-off accounts. This was after data released to Parliament showed that banks have written off bad loans worth Rs 14.56 lakh crore in the last nine...
RBI to banks, ET BFSI
MUMBAI: The Reserve Bank of India (RBI) Thursday asked banks to double down efforts to maximise recovery from written-off accounts. This was after data released to Parliament showed that banks have written off bad loans worth Rs 14.56 lakh crore in the last nine...
More countries including Japan, a few from the West interested in UPI linkages: RBI, ET BFSI
At the recent G20 finance ministers and governors meeting, UPI was widely recognised.The Reserve Bank on Thursday said the internationalization of the unified payments interface (UPI) system is a work in progress as it works towards linking it with more and more...
RBI to revise up inflation projection as monsoon plays spoilsport, crude oil prices surge, ET BFSI
The upcoming Reserve Bank of India (RBI) monetary policy meeting comes amid a sharp spike in vegetable prices, a spatially uneven monsoon, and a divergent global monetary policy cycle. As seasonal inflationary pressures gather momentum, India's central bank is...
How has RBI pause on rate hikes played out?, BFSI News, ET BFSI
The six-member Monetary Policy Committee of the Reserve Bank of India (RBI) surprised everyone in April 2023 as it took a pause on a series of hikes in the policy rate. For the second time too, in June’s MPC meeting, the central bank kept the rates on hold while...
SBI Research expects another pause in interest rates, ET BFSI
New Delhi [India], August 9 (ANI): SBI Research expects the Reserve Bank of India to again put a pause on the key policy rates as the central bank's third monetary policy committee meeting is currently underway. The outcome of the review meeting will be announced on...
RBI may tighten cash conditions, but CRR hike unlikely, ET BFSI
The Reserve Bank of India may look to tighten domestic rupee liquidity to quell inflationary pressures but will refrain from permanent cash withdrawal, several traders and analysts said ahead of Thursday's monetary policy review.The central bank is expected to hold...
All that can shape RBI MPC’s rate verdict tomorrow, ET BFSI
All eyes are on the Reserve Bank of India’s (RBI) rate-setting panel which commenced its three-day bi-montly meeting on August 8, amid rising food prices.At the end of this meeting on Thursday, tomorrow, the Monetary Policy Committee (MPC) will present its decision on...
RBI asks banks to redouble recovery efforts, BFSI News, ET BFSI
Mumbai, Reserve Bank Deputy Governor Swaminathan J on Thursday asked banks to double down on recovery efforts to limit the losses from the write-off of loans, saying it will help them post higher profits. The career commercial banker who recently joined the regulator...
No impact on financial markets if international banks open special vostro accounts: RBI, ET BFSI
India’s financial markets are unlikely to be disrupted if foreign entities using special vostro accounts unwind their investments in government securities, Reserve Bank of India (RBI) officials said on Thursday.“About how much anyone has invested - that’s not...
Morgan Stanley expects status quo in interest rates, ET BFSI
New Delhi [India], August 9 (ANI): Morgan Stanley, as is the case with several other financial services firms and analysts, expects the Reserve Bank of India to again hold the policy rates unchanged as the central bank's third monetary policy committee meeting is...
Resetting of floating rate home loan EMIs to get more transparent, option to switch to fixed rate soon: RBI, ET BFSI
RBI has asked banks to be transparent in resetting the interest rate and EMIs of floating rate home loans under the external benchmark based lending rate mechanism. Moreover the banking regulator has asked the banks to have a more transparent framework in how they...
RBI raises inflation forecast to 5.4% for this fiscal, ready to deploy policy instruments, ET BFSI
The Reserve Bank of India has projected CPI inflation to rise to 5.4 per cent for fiscal 2023-24 months on account of supply disruptions due to adverse weather conditions as it vowed to deploy policy instruments, if necessary, to bring it down. The central bank now...
