India’s Largest Bank Welcomes its New Chairman
The Cabinet Committee on Appointments has appointed a new chairman for the State Bank of India (SBI), the largest bank in the country. With a market cap exceeding INR 7,21,000 crores, SBI boasts a robust balance sheet and strong asset quality. The former chairman, Dinesh Khara, played a crucial role in revitalising the bank’s ailing…
JYOTI
The Rupee Riddle: Deciphering India’s Economic Expansion and Currency Decline
India’s economy is not just growing; it’s on a remarkable upward trajectory, with Morgan Stanley projecting it to become the world’s third-largest by 2027. This growth is not a fluke but a result of three powerful megatrends: global offshoring, digitalisation, and the energy transition. The country’s GDP is expected to increase and double from $3.5…
ABHYUDAYA MITTAL
SBI’s New ‘Amrit Vrishti’ Plan: Is It A Risky Bet?
India’s largest bank, SBI, has launched one of its highest interest rates, bearing FD: Amrit Vishti. According to the bank, the FD will offer an interest rate of 7.25% on deposits for 444 days and is open for domestic and non-resident Indian customers. They added that the interest rate for senior citizens will increase by…
Vikas
Stalled Global Trade, Stagnant Global Economy
Exports are the lifeblood of the global economy. After years of steady growth, international trade has encountered significant obstacles. The recent unrest in the Middle East and Eastern Europe has altered global dynamics, resulting in decreased export figures. According to the World Trade Organization’s (WTO) Global Trade Outlook and Statistics report, total global trade declined…
abhinav singh
JP Morgan’s Index Open Doors For Massive Investments
The world’s largest bank in terms of market cap, JP Morgan Chase & Co., has announced that they will be including Indian government bonds in their indexes from 28 June 2024. According to various experts, India is expected to raise billions of dollars after the development. Moreover, this listing will give a broad range of…
Suryansh
Rising External Debt, Falling Debt-to-GDP Ratio
In its latest report, the Reserve Bank of India has provided key insights into India’s economic indicators. The report highlights that India’s external debt has increased by $39.7 billion, reaching a total of $663.8 billion by the end of March 2024. These figures would have been slightly higher if the valuation effect had not been…
Shipra Prajapati
World Bank Highlights India’s Economic Momentum for 2024
World Bank, in its recent report, has highlighted India’s resilience as the fastest-growing economy in the world. The forecast for FY25 has been revised from 6.4% to 6.6%, and the estimated growth rate for FY26 has been increased by 20 basis points to 6.7%. This revision, influenced by the recently declared election results, underscores the…
‘No One Can Pressurise You Today’: Aircel Founder
In the twilight of the 20th century, 1999 marked a digital dawn in India with the advent of mobile phones. State-owned enterprises like BSNL (Bharat Sanchar Nigam Limited) and MTNL (Mahanagar Telephone Nigam Limited) began their services in the domestic sphere. At the same time, private sector giants like Reliance ventured into the mobile service…
The Multifaceted Threat Of Fraud In India
India is no stranger to financial fraud. In the past, there have been many scams in India, including the Rs. 7000 crore Satyam Computer scam, in which the firm’s chairman confessed his fraud. Another great example is the infamous Harshad Mehta scam, a Rs. 5000 crore scam that resulted in the crash of the Indian…
Digital Sharks: The Alarming Rise of Unregulated Lending in India
On December 18, 2023, the government informed Parliament that Google had taken action against over 2,500 deceptive loan applications on its Play Store. The government continues collaborating with the Reserve Bank of India (RBI) and other relevant regulators and stakeholders to combat these fraudulent loan applications. Additionally, the issue is routinely addressed and overseen during…
Vipin