FINANCIAL PRIORITIES
G20 Panel on digital public infrastructure bats for global plug & play use
India's G20 task force on digital public infrastructure (DPI) has proposed global adoption of plug-and-play models for DPI deployment, emphasizing sovereignty and data ownership. Led by Amitabh Kant and Nandan Nilekani, the task force's report highlights India's DPI achievements, such as Aadhaar enrolments and direct benefit transfers.
Fight against three evils - terrorism, separatism and extremism - a priority in SCO: Jaishankar
In a recent interview with Kazinform News Agency, External Affairs Minister S Jaishankar underscored the critical need to combat terrorism comprehensively within the SCO framework. Emphasizing the threat terrorism poses to global and regional peace, Jaishankar called for identifying and penalizing not just the perpetrators but also their facilitators, financiers, and sponsors. He highlighted the SCO's role, particularly through its Regional Anti-Terrorist Structure (RATS), in proposing effective measures against terrorism, separatism, and extremism. Jaishankar also welcomed Kazakhstan's leadership in updating the SCO's anti-terrorism program, stressing the importance of implementation to eradicate all forms of terrorism, including cross-border activities.
Can Nirmala Sitharaman blend good economics with shrewd politics?
As NDA 3.0 prepares for the upcoming budget, Finance Minister Nirmala Sitharaman faces the task of balancing economic growth with political demands. Strong economic indicators allow for potential tax relief for the middle class and increased welfare spending.
NITI Aayog's SDG report vindicates Bihar govt's demand for special category status: Ministers
Bihar ministers argue that NITI Aayog's SDG India Index 2023-24 supports their call for more central financial aid, with Bihar still at the bottom despite some progress. They emphasize the need for special category status and financial packages to address ongoing economic challenges. Critics claim the report highlights the NDA government's neglect of Bihar.
YES Bank shares jump over 6%. 2 reasons behind the buying momentum
YES Bank Share Price: YES Bank jumps 6.5% to Rs 26.60 after Moody’s positive upgrade and reports of First Abu Dhabi Bank likely interest in its 51% stake.
Mumbai rains: IMD issues orange alert after monsoon rains flood India's financial capital
An 'orange' alert for heavy to very heavy rainfall has been issued in Mumbai by the India Meteorological Department, with a 'Yellow' alert for heavy rain tomorrow. Heavy rains inundated Mumbai on Monday, causing flooding on roads and railway tracks. More than 300 mm of rain fell in six hours, leading to waterlogged streets and disruption of local train services. The Mumbai airport also faced runway closures and flight diversions due to heavy showers and low visibility.
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US cyber crimes: Overseas scammers are swiping billions from Americans every year, and getting away with it
Scammers are stealing billions from Americans yearly, exploiting technology and targeting older adults. Sophisticated fraud schemes overwhelm law enforcement and rarely lead to prosecution. With elder fraud complaints rising, experts call for coordinated efforts from private industries and the government to combat this escalating crime wave effectively.
Retirement income: Why we need both, an income stream and a corpus
A monthly allowance will keep it simple and straightforward. The children and parents can agree on the amount and the former can simply credit it like a monthly pension or income. The dependent parent, spouse, sibling or relative is spared the discomfort of asking and enjoys the discretion to spend and save.PSM ID:
India presents its priorities under Colombo Process
Chairing the Colombo Process, I, Muktesh Pardeshi, focused on safe and orderly migration for overseas employment, emphasizing renewed commitment, collaboration, and financial sustainability while presenting an action plan for membership expansion and addressing migration issues.
Financial sector strong but RBI watchful of emerging risks, says RBI Governor Das
RBI's financial stability report underscores the importance of governance, Basel III norms compliance, and maintaining high CET1 ratios for banks. Monitoring GNPA ratios of public, private, and foreign banks essential for financial system stability and resilience.
RBI urges banks to address credit gaps for underserved sectors
Despite India's progress in banking access, micro and small business units, marginal farmers, and self-help group members still lack institutional credit and comprehensive financial services, as highlighted by the Reserve Bank of India.
Take charge of finances: How to make a personal financial bucket list to achieve all your goals
Taking control of our money lives is something many of us are unable to do. It sounds simple, but many of us do not believe we can take charge and do something about our dreams. Slipping into excuses, living in denial of our true situation, blaming the world for our unhappiness, and assigning it to bad luck are tactics that stop us from asking what we could do.
MFs cut weight on technology stocks by 170 bps in just 3 months. What are cues for investors?
In May, several MFs reduced tech stock weights by 0.1%-0.9%, with HSBC making the highest cut at 0.9%. HDFC MF, Mirae, and Franklin Templeton increased weights by up to 0.2%.
ONDC is bulking up financial services play with consumer-facing apps
Tata Group's super app Tata Neu and credit marketplace Paisabazaar are conducting pilot studies for credit disbursals through the ONDC network, with lenders like DMI Finance and Aditya Birla Finance already integrated.
French finance minister warns of financial crisis if far right wins election
French Finance Minister Bruno Le Maire warned of a potential financial crisis in France if the far-right, led by Marine Le Pen, wins upcoming elections, urging support for Emmanuel Macron's party.
ETMarkets Smart Talk: Rural consumption could top priority in Modi 3.0’s final Budget in July: Vinay Jaising
The BJP led NDA alliance is confident of forming the government for the third time consecutively which has not happened in India since 1962 when the Nehru led Congress was in Power; and an extremely spectacular event.
Empowering women with financial planning: Term insurance as a safety net
Women often overlook self-care while balancing caregiving and financial roles. Recognizing the importance of insurance coverage for financial stability is crucial for long-term resilience.
These largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of over 20%
Just because the Nifty has been trading in a volatile mood for the last few trading sessions, the word correction might be heard on the street. The fact is that if one looks at the internal of the markets, there has been an ongoing correction which is taking place which has been largely guided by the numbers which companies have delivered for Q4. Also there is a kind of sectoral correction taking place. The good part is that such kind of sectoral corrections are indicative of underlying bullishness and these corrections are part of any bull run. The only thing any investor needs to make sure is that in any corrective phase, bias when making fresh investment should be toward large cap stocks as there is a possibility that they would see less damage in corrections which are stronger in nature due to global or macro developments. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
India lives in its villages, rural development remains priority: Shivraj Chouhan
Shivraj Singh Chouhan, the new Rural Development minister, highlighted the government's focus on rural development and the 'Lakhpati Didi' scheme to empower women to earn Rs 1 lakh annually.
These largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of over 20%
Just because the Nifty has been trading in a volatile mood for the last few trading sessions, the word correction might be heard on the street. The fact is that if one looks at the internal of the markets, there has been an ongoing correction which is taking place which has been largely guided by the numbers which companies have delivered for Q4. Also there is a kind of sectoral correction taking place. The good part is that such kind of sectoral corrections are indicative of underlying bullishness and these corrections are part of any bull run. The only thing any investor needs to make sure is that in any corrective phase, bias when making fresh investment should be toward large cap stocks as there is a possibility that they would see less damage in corrections which are stronger in nature due to global or macro developments. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
Most SFBs would not clamour to become universal banks if RBI eases some curbs, says ex-Secy
As per the RBI guidelines, SFBs are required to open at least 25 per cent of their branches in unbanked rural centres and are mandated to provide 75 per cent of loans to the priority sector compared to 40 per cent for the commercial banks.
Diplomatically, India is in a 'very sweet spot': Ex-South Korean Foreign Minister Dr. Kyung-wha Kang
Asia Society, a global think tank, has highlighted India as the fastest-growing economy with significant potential. The Asia Society India Center, founded in 2022, focuses on community-building and arts programming in South Asia. The Asia Society Policy Institute in Delhi conducts policy research and promotes awareness of India's strategic priorities and decision-making. The organization plans to deepen its engagement with India in the Indo-Pacific region, leveraging India's growing economic and political might.
Export credit access may become easier amid geopolitical tensions
The government is evaluating ways to enhance export competitiveness by examining the export credit landscape. Seeking insights from exporters, it aims to address challenges and improve access to financial resources crucial for international trade. With a focus on reducing the cost of export credit, officials are studying best practices from other countries. This initiative comes as India's goods exports declined in FY24, prompting exporters to seek longer-term funding amid global uncertainty.
Zomato pilots priority deliveries, tests ‘pay later’ feature
Gurgaon-based firm Zomato is starting priority deliveries, wherein users can pay extra to get orders delivered faster. The extra charge for priority deliveries is applicable to members of the company’s loyalty programme, Zomato Gold, as well.
Competition Commission to conduct detailed study on AI; invites proposals from entities
CCI invites proposals for AI market study focusing on competition dynamics, collusion risks, bias impact, M&A effects, enforcement priorities, entry barriers, innovation incentives, and market power. Deadlines: June 3 for bids, technical presentations, and June 28 for financial bids.
Donald Trump defends increasing tariffs on Chinese imports, dismisses retaliatory move threat
Trump also laid out some of his financial priorities and defended his planned 10% across-the-board tariffs, saying any resulting price increase for families could be offset by tax cuts and calling for his 2017 tax cuts to be extended.
Goldman Sachs says it will exit Japan transaction banking
Goldman Sachs will be exiting transaction banking in Japan and closing its Tokyo branch. The decision comes as the financial group focuses on growing transaction banking as a strategic priority elsewhere.
NABARD estimates Rs 3.62 lakh cr priority sector credit potential for FY25
The National Bank for Agriculture and Rural Development (NABARD) has projected a priority sector credit potential of Rs 3.62 lakh crore for 2024-25. This projection reflects a remarkable 32 per cent rise from its previous year's assessment, a bank official said Tuesday.
ET GBS 2024: AI regulation is priority for all but no country will do it, says Spiros Margaris
In December, European Union lawmakers passed the world's first comprehensive set of AI regulations, set to be effective from 2025. The Indian government has, however, indicated that it will only take a light-touch approach to regulating AI to allow sufficient room for growth and innovation.
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