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G20 Independent Expert Group on strengthening multilateral development banks (MDBs) will next month come out with a roadmap and a detailned plan to reform these institutions including the World Bank and Asia Development Bank. The details include proposals that would enable MDBs to harness private capital apart from stepping up their financial capacity, the group's co-chair NK Singh said. «We are going into greater granularity on how you really achieve this private capital--- what incentive, risk mitigation can you do,» Singh, who is also chairman of the Fifteenth Finance Commission, told ET in an interview. The report would dwell on an efficient operating model for the MDBs that would be appropriate to meet emergent challenges and develop the ability to harness innovative capital — hybrid and blended — and coordination among them. It would also consider cohesion and symmetry of purpose that can «come within the MDB family to improve the overall capability and reach», Singh said. The group, co-chaired by Singh and former US Treasury secretary Larry Summers, had submitted the first volume of its report at the G20 finance ministers and central bank governors meeting in July. The recommendations figured in the New Delhi G20 Leaders' Declaration. The report put private capital requirement of MDBs at $500 billion. Singh said the roadmap specified in the second part of the report will also detail the sequencing of the reforms. "...the low-hanging fruit, in my view, is clearly the optimisation of the balance sheet," Singh said, adding that other issues including getting more out of the existing equity itself, recalibrating risk appetite, and creative use of guarantees would be in focus. MDBs' record in being able to get only 0.6

NEW DELHI : India is home to the second-largest developer base for GitHub, the world’s largest platform for storing, hosting and sharing code. Data shared exclusively with Mint by GitHub revealed India to have over 11.4 million individual developers on the platform, while over 440,000 Indian companies also host and share their code through the platform. All this contributed to nearly 30 million code repositories on GitHub by Indian users.

Hardeep Singh Nijjar, it is perhaps time for Canada to implement a 'foreign policy reset', shedding off its 'middle-power approach' and focussing more on 'Indo-Pacific diplomacy', Japan Times reported. Prime Minister Trudeau's allegation of an Indian role in the assassination of Khalistleader Nijjar on Canadian soil, triggered a broader deterioration in relations between Ottawa and New Delhi, the report noted. Notably, a similar episode also led to a deteriorating trend in China-Canada relations, the report stated, adding that Michael Spavor, a businessman, and Michael Kovrig, a former diplomat, were arrested by Beijing on espionage charges.

India has not only been closely monitoring Canada-based Sikh terror groups and their operatives, but also keeping a close watch on the role of NDP leader Jagmeet Singh (coalition partner in the Trudeau government) in encouraging extremist views. Jagmeet Singh has been alleged to influence Trudeau's pro-Khalistan politics and the Trudeau-Jagmeet alliance has engaged in vote bank politics amid the Canadian PM's rising unpopularity. India had engaged with certain countries, including Russia, on Jagmeet Singh's pro-extremist ideologies. Russia has banned Jagmeet's entry into its territory based on inputs provided by New Delhi, ET has learnt.

NEW DELHI, MUMBAI : The race to dominate the electric vehicle (EV) market has triggered a dash for talent, as automakers and others in the ecosystem seek out experienced professionals to develop capabilities in green mobility. Industry executives said that companies are trying to attract and retain professionals skilled in battery management systems, fuel cells and core engineering with pay hikes, retention bonuses and counter-offers. Leading Indian automakers are introducing new EV models, and startups are coming up with innovative electric mobility solutions, even as the government works to reduce carbon emissions.

NEW DELHI : Domestic markets are not far ahead of fundamentals, and there is opportunity for strong earnings growth for several years, Nirav Sheth, chief executive officer, institutional equities at Emkay Global Financial Services Ltd, said in an interview. Barring consumer staples and commodities, he is positive about most sectors including banks, but with varying levels of confidence. Edited excerpts: Does the valuation comfort persist in the markets or is it time to book profits? Markets are not far ahead of fundamentals.

NEW DELHI : India is in the process of cancelling the registration of more than a dozen Overseas Citizenship of India (OCI) card holders for carrying out pro-Khalistan activities and anti-India propaganda, said two people aware of the development. The move comes in the backdrop of India suspending visa services in its Canadian missions, and directing Canada to cut its diplomatic staff in India.

The I2U2 - Israel, India, UAE, and the United States - announced a new initiative on space cooperation this month on the sidelines of the UN General Assembly session in New York. The four-nation grouping, termed the “West Asia Quad" by some, has attracted attention in recent years. Mint looks at what I2U2 is.

Startups in India: India has crossed 1 lakh registered startups under the Startup India initiative, the minister of commerce and industry Piyush Goyal said while addressing an event in New Delhi. Highlighting the success of the Startup India initiative, Goyal stated that the nation has witnessed remarkable growth from 450 startups in 2016 to more than 1 lakh startups in 2023, recognised by the Department for Promotion of Industry and Internal Trade.

Croma on Sunday issued a statement condemning the act of a staff member being thrashed by two men for delay in delivery of an iPhone order. “We strongly condemn the verbal and physical abuse on a partner employee by a customer in our store at New Delhi on September 22, 2023. As a brand, Croma deeply values our customers and are committed to being customer centric.

Jyotiraditya Scindia on Sunday announced that three new air routes would be operationalised in Arunachal Pradesh by October this year.

Canada developed the most definitive intelligence that led to Prime Minister Justin Trudeau to make allegations against India, triggering a diplomatic standoff, The New York Times reported citing Western allied officials. In the aftermath of the assassination of Hardeep Singh Nijjar, US intelligence agencies shared context with their Canadian counterparts, contributing to Canada's determination of India's role in the incident. However, what appears to be the crucial piece of evidence, intercepted communications involving Indian diplomats in Canada, indicating their involvement in the plot, was collected by Canadian officials, as confirmed by allied officials, according to the report in the NYT. While US Secretary of State Antony J Blinken has called upon India to cooperate with the Canadian investigation, US officials have been cautious about triggering any diplomatic backlash from India.

crypto assets could threaten the effectiveness of monetary policy,” noted the Synthesis Paper developed by the International Monetary Fund (IMF) and Financial Stability Board (FSB) at the request of the Indian G20 Presidency. The risks of crypto-assets or virtual digital assets (VDA) assuming the status of a “shadow” currency has also been a key concern articulated by the Reserve Bank of India (RBI), prompting the Indian financial services regulator to push for a complete ban on crypto-assets. An important consensus from the New Delhi Declaration adopted by G20 leaders is that a global coordinated approach to crypto-asset regulation is required. A key challenge faced by regulators across jurisdictions when looking to supervise crypto-assets is the blurring of geographical boundaries. Any person with access to the internet can transact on a blockchain-based private cryptocurrency, allowing for seamless transactions with counterparties across multiple jurisdictions. Several crypto-assets operate without any intermediaries, making regulation even more difficult. Consequently, a framework that has “buy-in” from regulators across jurisdictions is the only effective way to regulate crypto-assets. The Synthesis Paper seeks to address this very problem. It sets out a comprehensive policy and regulatory response to address the financial stability and macroeconomic risks triggered by the widespread use of crypto-assets. Regulators across jurisdictions will still need to frame their own rules but can rely on the broad policy recommendations of the IMF and FSB (as set out in the Synthesis Paper).

Justin Trudeau's allegations of Indian involvement in the assassination of Sikh separatist leader Hardeep Singh Nijjar, Canada is contemplating a shift in its foreign policy approach, as reported by the Japan Times. Trudeau's accusation concerning Nijjar's assassination on Canadian soil has strained relations between Ottawa and New Delhi, with repercussions echoing in Canada's relations with other nations, particularly China. The arrests of businessman Michael Spavor and former diplomat Michael Kovrig by Beijing on espionage charges, in retaliation for the detainment of Huawei executive Meng Wangzhou in 2018 at the request of the United States, have added to the diplomatic tensions. China-Canada relations further soured due to allegations of Chinese electoral interference and threats against Canadian lawmaker Michael Chong, resulting in record-low favorability ratings for China in Canada. Discussing engagement between the two nations has become a sensitive issue. Canada's relations with Russia are also strained due to its staunch support for Ukraine in the ongoing conflict. Canada now finds itself in a precarious position, having alienated India, China, and Russia—three significant global players. Additionally, the looming possibility of Donald Trump's return to the U.S. presidency in 2024 poses another challenge, potentially misaligning Canada's goals with its most important economic, security, and political partner.

Narendra Modi is all set to reveal the much-anticipated Tirunelveli — Chennai Vande Bharat Express Train. This high-speed train will link Tirunelveli and Chennai, making the journey more convenient for travelers. The inaugural event will be held through a video conference from New Delhi on Sunday, September 24. The Tirunelveli — Chennai Vande Bharat Express will set off from Tirunelveli Junction at 6 a.m. The train is expected to reach Chennai at 1.50 p.m. For the return journey, the train will depart from Chennai at 2.50 p.m. and arrive in Tirunelveli at 10.40 p.m. One of the main advantages of this new service is the reduced travel time. It will take less than eight hours to travel between Chennai and Tirunelveli, a significant improvement from the 11 to 12 hours it currently takes on regular express trains. The Vande Bharat Express comes with some impressive features:

India's G20 Presidency was «challenging» as it came amid «a very sharp» East-West polarisation and «very deep» North-South divide, External Affairs Minister S Jaishankar has said. The remarks by Jaishankar came at a special 'India-UN for Global South: Delivering for Development' side event he hosted here on Saturday on the margins of the 78th session of the UN General Assembly. «We meet just a few weeks after the New Delhi G20 Summit, a summit which took place on the theme of 'One Earth, One Family, One Future'.

Portugal Foreign Minister Joao Gomes Cravinho said that both countries share friendly relations with Portugal and expressed hope that the issue between the two countries will be quickly resolved. Canadian Prime Minister Justin Trudeau on Monday alleged that Ottawa had credible intelligence linking Indian agents to the killing of Khalistterrorist Nijjar in Vancouver. India, however, dismissed the allegations as «absurd and motivated». However, this triggered diplomatic tensions between the two countries, with both New Delhi and Ottawa taking diplomatic steps and India suspending visa services to Canada. Speaking to ANI on the sidelines of 'India-UN for Global South: Delivering for Development' event in New York City, Cravinho said, «It is a matter between India and Canada.

waded into a debate around protests taking place halfway across the world.From Ottawa, he promised that Canada would “always stand up” for the right to peacefully protest.“We believe in the importance of dialogue and that’s why we have reached out through multiple means directly to the Indian authorities to highlight our concerns,” he said.Trudeau was responding to concerns among Canada’s significant Sikh diaspora that the Indian government was cracking down on farmers protesting a new agricultural policy. His comments were met with a sharp reaction from India, where the government summoned the Canadian ambassador over the issue.This diplomatic spat made headlines, and was just one example of how the effects of domestic politics and policies in India are spurring frustrations, fear and what one expert called “mounting tensions” among members of the diaspora communities in Canada.And in the days since Trudeau rose in the House of Commons saying Canadian authorities are investigating “potential links” between agents of the Indian government and the murder of Canadian Sikh leader Hardeep Singh Nijjar, there has been renewed focus on the challenges of negotiating an evolving relationship with India.In particular, how should Canada navigate ties with an aspiring global superpower in the years since the Indian farmers’ movement galvanized the diaspora?In 2020 and 2021, Indian farmers, mostly led by Sikh farmers from the northern state of Punjab, camped outside of New Delhi for over a year.

Also Read: Jaishankar dismisses 'West as bad guy' narrative, sheds light on Global South's rising role in diplomacy EAM also noted that contemporary geopolitical considerations and rivalries are influencing fundamental needs in many countries, such as their ability to access affordable food, fertilizers, and energy. Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! "With each passing day, in fact, it has become clearer to us that today geopolitical calculations and geopolitical contests are impacting very basic requirements of many countries, including their affordable access to food, to fertilizers and to energy," Jaishankar said.

PTI. The United States has made clear that it expects the Indian government to work with Canada on efforts to investigate the possible involvement of New Delhi.

Ottawa, Ontario, after the killing of a Sikh separatist leader in the Vancouver area, but Canada developed the most definitive intelligence that led it to accuse India of orchestrating the plot, according to Western allied officials. In the aftermath of the killing, U.S. intelligence agencies offered their Canadian counterparts context that helped Canada conclude that India had been involved.