illustration

Nomination of David Malpass by the Trump administration to head the World Bank represents a chance for the lender to go back to its original charter

The World Bank and its defunct energy policy

Business Standard

Bahujan Samaj Party chief Mayawati on Sunday questioned the sincerity of the Congress' protests over the alleged "disrespect" to B R Ambedkar in Parliament, saying the party that ignored and undermined his struggle for the country is engaged in "politics of pure deception and selfishness".
She also hit out at the BJP, alleging the ruling party and the Congress are cut from the same cloth when it comes to taking Ambedkar's name for vote bank politics.
"In reality, saints, gurus and great men born in the Bahujan Samaj including Baba Saheb got full respect and honour only when there was a BSP government, which these casteist parties cannot digest," the former Uttar Pradesh chief minister said in a series of posts on X.
After the showdown inside and outside parliament during the winter session, the Congress has said it will hold protest marches against Union Home Minister Amit Shah, whom it has accused of "insulting" Ambedkar with his remarks last Tuesday, and observe a weeklong campaig

Mayawati

The government has decided to infuse Rs 500 crore capital in state-owned IFCI to improve its financial health ahead of the company's proposed restructuring and consolidation into a group.
With the infusion, the government of India's holding in the company is expected to further increase from existing 71.72 per cent as on September 2024.
The capital infusion plan for IFCI was approved through the passage of the first Supplementary Demand for Grants for 2024-25 in Lok Sabha last week.
The Supplementary Demand for Grants for 2024-25 made an allocation for an additional amount of Rs 499.99 crore for 'Subscription to the Share Capital of Industrial Finance Corporation of India (IFCI).
"Taking into account savings of Rs 50.07 crore available in the same section of the grant, the remaining amount of Rs 449.92 crore will be met from surrender of savings available in the capital section of Demand No.30-DEA and it will not entail any additional cash outgo," the Supplementary Demand for Grant

Once again, IFCI is in the eye of a storm

EPC solutions provider Solar91 Cleantech on Sunday said it has fixed a price band of Rs 185-195 per equity share for the Rs 106 crore initial share sale, which will hit markets on December 24.
The initial public offering (IPO) will close on December 27. The bidding for anchor investors will open for a day on Monday, the company said in a statement.
The shares of the company will be listed on the SME platform of BSE. At the upper end of the price band, the company is going to fetch around Rs 106 crore, it added.
The proposed IPO is entirely a fresh issue of 54.36 lakh equity shares with a face value of Rs 10 each, according to the red herring prospectus.
Proceeds from the IPO will be utilised to meet the expenses for investment in its subsidiary for the development of solar plants as an independent power producer (IPP), meet working capital requirements and cover general corporate purposes.
"This IPO marks a new chapter for the company, empowering us to accelerate our growth, expan

Demands of certain developed countries from India to negotiate 'investment protection' elements under an FTA is inappropriate as negotiating the matter as part of a separate chapter under the trade pact could have larger and detrimental implications, source said.
Legally speaking, they said, the investment protection element provides a wide range of obligations and commitments bestowed upon foreign investors, which are expansive in nature.
"Recently, a lot has been heard about countries that are desiring India to negotiate 'investment protection' elements vis-a-vis investment chapter as part of the free trade agreement (FTA). However, this is incorrect," one of the sources said.
For instance, the European Union (EU) has been negotiating a separate investment protection agreement or treaty with India, and not as part of the India-EU free trade agreement.
"Having 'investment protection' as a chapter of a FTA could have larger and detrimental implications even on the trade agreements'

trade fta

Market participants said that the price difference is largely driven by heavy supply, timing mismatches in fund flows, and rising global interest rates

Bond market

GST Council addresses disaster levy, clarifies tax exemptions, and revises ITC norms, while deferring insurance premium GST cut and key rate rationalisation decisions

GST council meeting

After two weeks of buying, FPIs turned net sellers in Indian equities this week, with a net withdrawal of Rs 976 crore amid a strengthening US dollar and steady rise in US 10-year bond yields, impacting investor sentiment.
Foreign Portfolio Investors (FPIs) began the week on a positive note, investing Rs 3,126 crore in equities during the first two trading sessions (December 16-20).
However, the trend reversed in the latter half of the week, with FPIs offloading equities worth over Rs 4,102 crore in the subsequent three sessions. This resulted in an overall net outflow of Rs 976 crore during the week, data from National Securities Depository Limited showed.
Despite this short-term reversal, the broader December trend remains positive. FPIs have infused Rs 21,789 crore into Indian equities so far this month, reflecting continued confidence in India's economic growth potential and its resilient markets.
FPIs adopted a cautious approach due to the US Fed meeting and uncertainty about 

Foreign portfolio investor exodus: Financial sector bears the brunt, FPI

Fundraising via IPOs in India hit another landmark as economic growth, favourable market conditions and improvements in the regulatory framework helped companies raise a record Rs 1.6 lakh crore in 2024, while the pipeline for the next year holds out bigger promise.
This exceptional year not only reflected the confidence of issuers but also highlighted investors' eagerness to seize listing-day gains or back companies with strong long-term growth potential.
The year was marked by Hyundai Motor India's historic IPO, the largest in the country's history, which raised Rs 27,870 crore.
Companies of varying market capitalisations -- large, mid, and small -- tapped into the IPO route in 2024, with the average issue size rising significantly from Rs 867 crore in 2023 to over Rs 1,700 crore in 2024.
The exceptional vibrancy of the IPO market was evident, with December alone seeing at least 15 launches.
"Rising retail participation, strong domestic inflows and active participation by FPIs (

ipo market listing share market

The accumulated losses of state public sector enterprises (PSEs) rose from Rs 3,953.70 crore in 2020-21 to Rs 4,778.70 crore in 2022-23, while the profit earned by 13 SPSEs stood at Rs 20.21 crore as on September 30, 2023, according to a report by the Comptroller and Auditor General (CAG) on finances tabled in the Assembly on Saturday.
The net worth of nine out of these 14 PSEs has been completely eroded by losses and their worth was (-) Rs 1,932 crore against an equity investment of Rs 2,085.59 crore, while three PSEs have outstanding government loans amounting Rs 3,132 crore, the report said.
Himachal Pradesh State Electricity Board topped the list of loss making enterprises with accumulated losses of Rs 1,809.61 crore, followed by Himachal Pradesh Road Corporation at Rs 1707.12 crore, HP Power Corporation at Rs 552 crore, Himachal Pradesh Power Transmission Corporation at Rs 395.91 crore, HP Financial Corporation at Rs 180.97 crore, State Forest Corporation at Rs 113.04 crore, HPM

The Centre may overshoot the Rs 56,260 crore target for dividend receipts from central public-sector enterprises (CPSEs) set for FY25 and is likely to end up getting around Rs 65,000 crore this financial year, according to a senior government officia

A 50-year-old doctor from Saudi Arabia, who has been living in Germany since 2006, is the prime suspect in the Christmas market attack in Magdeburg, which killed five people

Germany police

Indian telecom operators owe the government significant spectrum fees, following years of high-stakes auctions and competitive bidding for airwave rights

Airtel, Bharti Airtel

Blade India will purchase 60 vertical takeoff and landing aircraft as part of agreement

Blade India

India on Thursday said it is concerned over incidents of violence against Hindus and other minorities in Bangladesh and asserted that the primary responsibility to protect their life and liberty rests with the interim government in Dhaka.
The comments by Minister of State for External Affairs Kirti Vardhan Singh in Rajya Sabha came days after Foreign Secretary Vikram Misri travelled to Dhaka and conveyed New Delhi's concerns on the matter to the top political brass of Bangladesh's interim government.
India continues to monitor the situation related to the minorities in Bangladesh closely, he said, adding, the government in that country has reportedly arrested 70 people and filed 88 cases in connection with violence involving minorities.
"India's concerns regarding the need to ensure safety and protection of Hindus and all other minority communities in Bangladesh have been conveyed and reiterated to the authorities of the Interim government of Bangladesh on various occasions, includi

India Bangladesh, India, Bangladesh

Investors' wealth eroded by Rs 9.65 lakh crore in four days of sharp decline in the equity market where the BSE benchmark Sensex tanked 2,915 points.
In the past four days, the BSE benchmark slumped 2,915.07 points or 3.54 per cent.
Falling for the fourth day running on Thursday, the 30-share BSE benchmark Sensex tanked 964.15 points or 1.20 per cent to settle at 79,218.05. During the day, the blue-chip index cracked 1,162.12 points or 1.44 per cent to 79,020.08.
Tracking the weak trend in equities, the market capitalisation of BSE-listed firms eroded by Rs 9,65,935.96 crore to Rs 4,49,76,402.63 crore (USD 5.29 trillion) in four days.
"Markets were plundered tracking negative global cues as benchmark indices slipped below their psychological levels on broad-based selling after the US Fed's hawkish stance raised concerns over further rate cuts next year. Rising US bond yields has pushed global currencies, including the rupee to new lows while renewed foreign fund outflows from domes

stocks brokers, markets, sensex, nifty, stock market

This week, eight contestants are nominated in the Bigg Boss 18 house. Avinash Mishra is the Time God for this week. If you want to save your favourite contestants, here's how to go about it

Bigg Boss Season 18

The latest Economic Survey said, India has to find the right balance between importing goods from China and importing capital (FDI) from China

How policymakers are split over attracting Chinese investment into India

Congress calls FIR against Rahul Gandhi over Parliament scuffle a 'badge of honour', alleging BJP's vendetta and diversionary tactics to counter his protest against Amit Shah's Ambedkar remarks

Rahul Gandhi, Rahul, congress leader

The Banning of Unregulated Lending Activities Bill calls for the CBI to handle probes in cases spanning multiple states or UTs

The Centre, in collaboration with states, has proposed to classify unregulated lending as a cognizable and non-bailable offence, with penalties including imprisonment of up to 10 years. The finance ministry has invited feedback by February 13 from st

The I-T department probes Rs 7,500 crore spent on lavish weddings, targeting Jaipur planners and fake billing networks linked to foreign destination events and cash transactions

weddings, marriage

The official further noted that this year's Budget consultations are particularly significant due to the political outcomes of recent state elections

Tilak K Doshi

Tilak K Doshi

Tilak K Doshi

The World Bank and its defunct energy policy

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Cong doing politics of deception over 'disrespect' to Ambedkar: Mayawati

Govt to infuse Rs 500 cr capital in IFCI to improve financial health

Solar91 Cleantech IPO to open on Dec 24; price band at Rs 185-195 per share

'BIT, free trade agreement 2 separate pacts; should continue to remain so'

State bond yields outpace AAA rated corporate bond yields for long tenors

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55th GST Council takes key decisions, defers rate cuts on insurance premium

FPIs pull out Rs 976 crore from Indian equities amid rising dollar

IPO boom: Record Rs 1.6 trn raised in 2024; bigger gains expected in 2025

Losses of Himachal's 30 PSEs rose from Rs 3,953 cr to Rs 4,778 cr: CAG

Who is the Saudi-born suspect behind Germany Christmas market attack?