India’s fragile financial system is swinging between despair and hope. Two separate incidents — both featuring the lender Yes Bank Ltd. — recently underscored the drag of past underwriting follies as well as the lift from a digital reset. It will take time, but good things will come to Indian banking as a result of the present crisis.
A panel tasked with recommending producer levies has ruled out changes in taxes on cars, consumer durables or cookies, dashing hopes of a reduction in Goods and Services Tax (GST) for automobiles and other consumption-oriented industries.
Mumbai: Indian companies’ ability to pay interest on loans worsened despite successive rate cuts by the central bank, a Mint analysis showed, thanks to higher debt levels, changes in accounting methods and sticky bank lending rates.
The PSA Advisory Board is meant to act as a check and balance on the government’s use of this stringent law and that’s why the judiciary was made part of its appointment exercise. Ironically, it was PDP-BJP govt that cut judiciary out of the process.
Prices of petroleum products like petrol and diesel are likely to go up by up to ₹5 a liter each over the course of the next few days as international crude oil prices shot up after the drone attack on Saudi Aramco’s facility at Abqaiq. Benchmark Brent crude prices were up by over $6 at $67 a barrel on Monday, which is a jump of over 10% and could rise further.
Mr. Sam Pitroda is an internationally
telecom inventor, entrepreneur, development thinker, and policy maker who has spent 50
information and communications technology (ICT) and related global and national
Credited with having laid the foundation
India’s telecommunications and technology revolution of the 1980s, Mr. Pitroda has been
leading campaigner to help bridge the global digital divide. During his tenure as
Prime Minister Rajiv Gandhi, Mr. Pitroda led six technology missions related to
telecommunications, water, literacy, immunization, dairy production, and oilseeds. He
the founder and first Chairman of India’s Telecom Commission. In these plural roles, Mr.
Pitroda helped revolutionize India’s development philosophies and policies with a
on access to technology as the key to social change.