City Delhi Financial News

multilateral development banks (MDBs) during India's G20 presidency would help ensure that such global institutions turn bigger and more effective so that their impact on development can be maximised, economic affairs secretary Ajay Seth said on Sunday. The Delhi declaration will lead to more work on this front, he said, a day after G20 leaders affirmed that «the 21st century also requires an international development finance system that is fit for purpose». «Consensus was built on how to strengthen MDBs and how to make them better, bigger and more effective so that their development impact can be maximised,» Seth said. «Stronger MDBs will be important to our efforts to mobilise financing from all sources for a quantum jump from billions to trillions of dollars for development,» as per the declaration. Once the second part of the report of a G20 expert group, headed by 15th Finance Commission chairman NK Singh and former US treasury secretary Larry Summers, firms up a road map for an updated ecosystem for MDBs, more deliberations are expected on this issue. As for the issue of the climate resilience debt clause, Seth indicated that it was not being discussed for a long time and that more technical work would be required on this front.

climate change to creating growth and prosperity for the citizens. There is always a lot of work to do and we will continue to do it," the Canadian prime minister said, in response to a query about whether the bilateral relationship was strained.

West Bengal Governor and the state government over various issues related to the education sector, Governor CV Ananda Bose has sent two confidential letters-one to Nabanna (the state secretariat) and other to New Delhi on Saturday midnight. Bose had vowed to «take action at midnight» yesterday, following which the letters were sent last midnight. The Governor told mediapersons on Saturday, «Wait for the stroke of midnight today (Saturday midnight).

ekla chalo re (walk alone) policy. On 26 September 1999, the G20 was founded with this goal in mind. The world then was reeling from the Asian financial crisis.

Congress leader Adhir Ranjan Choudhury on Sunday questioned West Bengal Chief Minister Mamata Banerjee's decision to attend the dinner hosted by President Droupadi Murmu on the occasion of G20 meet in New Delhi, asking if that would not weaken her stance against the Narendra Modi government. The state Congress president also wondered whether there was «any other reason» for the Trinamool Congress supremo to take part in the programme. The TMC hit back at Choudhury, saying that Banerjee is one of the prime movers behind the non-BJP bloc INDIA and the Congress leader did not need to lecture her about certain protocols to be followed from the administrative point of view. «When many non-BJP CMs refrained from attending the dinner, Didi (Mamata Banerjee) went to Delhi a day in advance.

Justin Trudeau's aircraft is facing technical issues at the Delhi airport due to which his departure has been delayed, according to a source.

Joe Biden insisted Sunday he does not want to «contain» China, as the two powers face deepening divisions on trade, security and rights. Biden said he had met Chinese Premier Li Qiang at the G20 summit in New Delhi — a meeting the White House had not announced — and discussed «stability». The president revealed the encounter in Hanoi, where earlier in the day he agreed a deal to deepen ties with Vietnam as Washington looks to bolster its network of allies around Asia and the Pacific in the face of Beijing's rising influence. Washington and Beijing are at loggerheads on a range of global issues, and Biden accused China of seeking to bend the international order to its will. «One of the things that is going on now is China is beginning to change some of the rules of the game, in terms of trade and other issues,» Biden told a news conference. Washington has invested heavily in building alliances as part of its Indo-Pacific strategy, including the Quad security dialogue with India, Australia and Japan, and the AUKUS pact with Britain and Australia. But he insisted the United States is not seeking to box China in, but rather to establish clear ground rules for relations. «I don't want to contain China.

World Bank and the finance ministry on Sunday agreed to work closely to create a market structure from the CSR demand side for maximising social impact. World Bank President Ajay Banga, who was in Delhi to attend the G20 Leaders' Summit, on Sunday met Finance Minister Nirmala Sitharaman. The two leaders during the bilateral meeting discussed the outcomes of G20 India Presidency, the evolution of the World Bank Group and their engagement with India through knowledge exchange and financial assistance for developmental projects, among other issues. «During the meeting, Mr.

Congress leader Shashi Tharoor on Sunday said the diplomatic triumph of the 'Delhi Declaration' consensus makes it all the more a pity that the government does not bring the same attitude of conciliation and cooperation to bear in its domestic dealings. He said it was a pity that the spirit of accommodation that prevailed at G20 is absent within Indian politics. Tagging Kant's remarks in an interview on how the consensus was achieved on the paragraphs on Russia-Ukraine, Tharoor said in a post on X, «Well done @amitabhk87!Looks like the IFS lost an ace diplomat when you opted for the IAS!» "'Negotiated with Russia, China, only last night got final draft,' says India's G20 Sherpa on 'Delhi Declaration' consensus.

leadership of the Bharatiya Janata Party (BJP) in Delhi, in the interest of Karnataka and to save his party, the PTI reported on Sunday. The JD(S) supremo said the seat sharing between the two parties for the 2024 Lok Sabha elections was not discussed during his recent visit to the national capital, and his son and party leader H.D. Kumaraswamy will be holding discussions with the BJP leadership and decide regarding poll understanding.

Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat on Sunday said many countries of the world are looking towards India for it believes in taking everyone along. Bhagwat made the statement addressing a congregation organised by the Namdhari mission here held in memory of Satguru Partap Singh and Mata Bhupinder Kaur at Namdhari International headquarters Bhaini Sahib, about 30 kms from here in this district on Sunday. «India's job is to create balance in the world and it is playing its role very well.

Congress chief Kamal Nath on Sunday alleged that 18 years of BJP rule in the state is marked by scams, which he termed as «Ghotala 18 or G18», inviting a sharp reaction from the ruling party. «G20 took place in Delhi.

Global Financial Crisis to precipitate ponderous deliberations into precipitate, coordinated action, such as infusion of liquidity, provision of swap lines to provide emergency access to foreign currency, institution of elevated capital adequacy norms for banks and extra, loss-absorbing buffers of capital for globally systemically important financial institutions, accompanied by periodic stress tests by banking regulators. The world does not face that kind of a crisis.

Narendra Modi welcomed world leaders to the Raj Ghat memorial complex in central Delhi on Sunday, site of the eternal flame that burns for Mahatma Gandhi. Symbolism is hard to escape in the so-called family photograph. It’s a G-20 tradition that offers a rare, unvarnished glimpse of the interaction between leaders — the warmth or chill of greetings, the backslapping, side chats, scowls or moments of awkwardness — and so points to the state of world relations.Also Read: G20 Summit 2023 LIVE: We are always there to push back against hatred, says Trudeau on Khalistani issue Absent from this year’s lineup were China’s President Xi Jinping and Russia’s Vladimir Putin, both of whom skipped the summit amid tensions with the US and its allies.

Narendra Modi and French President Emmanuel Macron on Sunday held talks on the sidelines of the G20 Summit where the two leaders vowed to strengthen Indo-French defence ties through partnership in design, development and manufacture of advanced defence technologies and platforms including for third countries in the Indo-Pacific. «Both leaders reiterated their commitment to strengthen the defence cooperation through partnership in design, development, testing and manufacture of advanced defence technologies and platforms, and expand production in India, including for third countries in Indo-Pacific,» said a joint statement. «In this context, they also called for early finalisation of the Defence Industrial Roadmap,» it said. Thw two leaders emphasised the need to expand Indo-French collaboration to address regional and global challenges. The statement also said India and France welcomed African Union's membership to G20 and resolved look to work with AU for progress, prosperity and development of Africa.

US President Joe Biden wished to hold a private mass while in Delhi. “I received an invite from the US embassy asking me whether I can celebrate the Holy Eucharist for the President. They sought an appointment with me, met me personally at the clergy home, and they told me that it is a short service of 20 minutes.

Delhi Lt Governor VK Saxena activated the rain contingency plan as it began to pour during the dinner for G20 leaders hosted by President Droupadi Murmu, Raj Niwas officials said on Sunday. They added that Saxena has also thanked Delhi-NCR residents for making the G20 Summit a grand success. «The Lt Governor underlined that without their support, enthusiasm and patience in face of inconveniences, this international event could not have played out with the perfection that it did,» an official said. Saxena also thanked the «rain gods» who made the stay of the visiting dignitaries all the more special by bringing down temperatures and improving the Air Quality Index. Various government departments and agencies had formulated rain contingency plans in case of a downpour. «For waterlogging that occurred at certain sites prone to flooding, pumps were immediately put into action.

Wipro Ltd. A two-member Chennai bench of the appellate tribunal held earlier that there was a pre-existing dispute over the payment between Wipro and the petitioner and observed that the Insolvency and Bankruptcy Code was not framed for being a «mere recovery legislation for creditors». The National Company Law Appellate Tribunal (NCLAT) has upheld the order of the NCLT.

Nicholas Dias, Secretary for Liturgy Commission for the Delhi Archdiocese, was contacted by the US Embassy in New Delhi. The purpose of this unexpected call was to request a private mass for President Joe Biden during his visit to Delhi. On a Saturday morning, Father Nicholas fulfilled this request by conducting a private service for the US President, setting the spiritual tone for President Biden's participation in the G20 deliberations in India. Father Nicholas shared, «I received an invite from the US embassy, who had my contact through embassy people whom I knew personally, asking me whether I can celebrate the Holy Eucharist for the President of America.

Joe Biden's convoy made an unauthorized entry into a New Delhi hotel where the UAE Crown Prince was staying. The breach occurred at Hotel Taj on a Saturday morning, initially causing alarm among security agencies. Upon investigation and questioning of the driver, it was revealed that the diversion was due to the driver's decision to accommodate another passenger before heading to President Biden's designated location. The driver explained to the authorities that he had been assigned to reach ITC Maurya, where President Biden was staying during the G20 Summit, by 9:30 am.

Ayodhya's much-anticipated Maryada Purushottam Shriram International Airport is gearing up to establish direct air connectivity with the national capital, Delhi, and three other major cities across India. As per a TOI repor, Airport director Vinod Kumar said that the initial phase of operations at the Ayodhya airport is set to commence this November, with direct flights connecting the sacred city to Delhi, Mumbai, Bengaluru, and Hyderabad. Ayodhya district magistrate Nitish Kumar shared insights into the airport's construction, revealing that it is being executed in three meticulously planned phases. The project has successfully acquired an expansive 821 acres of land to facilitate this ambitious endeavor. In the first phase of development, the construction of the runway has been completed, boasting the capacity to accommodate aircraft operations seamlessly under diverse weather conditions, day and night.