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Maldives matters: India’s moving to foil Chinese designsMinister of Economic Development and Trade Mohamed Saeed said, "Addressing the dollar issue and reinforcing the MVR is a top priority for the current administration".In August 2022, the then President of Maldives Ibrahim Mohamed Solih said, “The two leaders welcomed the ongoing work to operationalize the usage of Rupay Cards in Maldives and agreed to consider further measures to boost bilateral travel and tourism and economic inter-linkages".Maldives says its pilots cannot fly aircraft donated by IndiaOn Wednesday, Maldives said that both India and China have agreed to cooperate in efforts to pay for imports in their respective countries’ currency instead of the US dollar. Saeed said he met with the Indian High Commissioner Munu Mahawar two weeks ago, who in turn, said that New Delhi would support and cooperate in arranging for the settlement of import payments in Indian Rupee.'True gesture of goodwill': Maldives thanks India for extending budget supportSaeed said the move is likely to help Male save almost 50% of the annual $1.5 million import bill from the two countries.In July 2023, the Government of India declared that Maldives was among the 22 countries that were permitted by the Reserve Bank of India to open Special Rupee Vostro Accounts (SRVAs) as part of efforts to promote bilateral trade in local currencies.Over the last few years, multiple banks and payment companies from across various countries have partnered with NPCI International Payments Ltd (NIPL), the international arm of NPCI, to accept UPI and RuPay in one form or the other.

NEW DELHI : India's top eight auditors will be inspected and the financial statements of up to 60 of their clients vetted this year, as the national audit watchdog widens efforts to enhance audit quality countrywide. The National Financial Reporting Authority (NFRA) which last year inspected five auditors, involving audit reports of 24 clients, is planning to expand the exercise, a person informed about the development said. “This year, inspections would be done on eight audit firms and in the case of audit firms inspected last year, audit documentation of a different set of audit clients will be examined.

NEW DELHI:India's power generation increased 9.69% to 153.77 billion units (BU) in April but fell short of target as temperatures soared to their highest in more than a century.Although the generation was higher on year, it fell short of the target of 161.71 million units, showed the CEA data, showed a monthly report by the Central Electricity Authority (CEA). A likely reason could be that thermal capacity addition failed to reach a targeted 800MW.Thermal power generation rose 10.87% on-year to 123.50 billion units as peak demand hit 235 GW on Wednesday, the highest so far this year.According to the India Meteorological Department (IMD), temperatures in April were the highest over eastern and northeastern India and the second highest over south India since 1901.Also Read: India is leading the way for sustainable power in the worldPower consumption last month was at 144.25 billion units, 10.49% higher than 130.55 billion units in the same period of FY23.Apart from thermal power, which constituted about 80% of the overall generation in the country, nuclear and renewable power s witnessed a rise in April.

general elections enter their penultimate phase, the spotlight turns to Delhi's seven Lok Sabha seats. The BJP aims for another clean sweep, while Aam Aadmi Party (AAP) and Congress, allies in the INDIA bloc, seek to make significant inroads. AAP and Congress Form Alliance in Delhi AAP and Congress are contesting the elections as partners in the INDIA bloc, with AAP vying for four seats and Congress for three. The alliance also extends to one seat in Haryana and two in Gujarat, while opting for a friendly fight in Punjab.

Phase 6 of the Lok Sabha elections include Bihar (8 seats), Haryana (all 10 seats), Jammu and Kashmir (one seat), Jharkhand (4 seats), Delhi (all 7 seats), Odisha (6 seats), Uttar Pradesh (14 seats) and West Bengal (8 seats).ALSO READ: Lok Sabha elections: How to cast vote without voter ID cardPolling in Jammu and Kashmir's Anantnag-Rajouri, adjourned in Phase 3, will also be held during Phase 6 of the Lok Sabha elections.As many as 889 candidates are in the fray from these 58 Lok Sabha constituencies.ALSO READ: Lok Sabha polls: How to check name in voter list - follow these stepsHere's full list of constituencies voting in Phase 6 on May 25:1. Valmiki Nagar GEN2. Paschim Champaran GEN3.

New Delhi: India is in talks with Sri Lanka to acquire a graphite mine block in the island nation, pushing ahead with its plan to forge global alliances to secure critical mineral supplies, said people familiar with the development. Separately, the country has received an offer from the United Arab Emirates to partner for critical minerals, they said. «Graphite is crucial for India since it is used for making batteries.

Reserve Bank of India (RBI) had private shareholders, as it had before 1949, they would have been a happy lot on Wednesday evening. The old lady of Mint Street will deliver its bounty from the financial markets — by far the most generous payout it has ever made — to New Delhi. At a time when some of the central banks in the advanced world have reported losses and negative equity, RBI will hand over a dividend cheque of more than ₹2.1 lakh crore to its sole owner, the government. However, the optics of the event — a monetary authority headed by a former bureaucrat making a huge transfer to a macho government towards the end of a long, noisy general election — masks a more prosaic truth. The payout number is a function of local and offshore currency and money markets, coupled with RBI's active intervention in the foreign exchange market. FY24 WAS DIFFERENT

Reserve Bank of India (RBI) on Wednesday said it would pay a record dividend of `2.1 lakh crore for FY24 — more than double the amount the Centre had budgeted for — as Mint Road made windfall interest gains from its overseas investments. The benchmark bond yield retreated below 7% on expectations that New Delhi would now need to borrow less this fiscal year. “The higher dividend is welcome, of course,” finance secretary TV Somanathan told ET. “It exceeds our estimate by 0.2-0.3% of GDP.”

Maldives on Wednesday said both India and China have agreed to cooperate in efforts to pay for imports in their respective countries' currency instead of the US dollar, which is likely to help Male save almost 50 per cent of the annual USD 1.5 million imports bill from the two countries. Maldives' Economic Development Minister Mohamed Saeed said he met with the Indian High Commissioner Munu Mahawar two weeks ago, who in turn, said that New Delhi would support and cooperate in arranging for the settlement of import payments in Indian Rupee. Similarly, Saeed said, he received a letter from China's Commerce Ministry, two days ago, in which Beijing provided assurance it will cooperate in allowing the option to settle import payments in Yuan, the Chinese currency, as requested by President Mohamed Muizzu. Annually, Maldives imports goods worth USD 780 million and USD 720 million from India and China respectively, the minister had said in April when he had first announced that the Maldives was discussing with India and China if the island nation can make payments for its imports from the country in Maldivian Rufiyaa.

Shashi Tharoor predicted that his party's confidence has increased in the run-up to the last two phases of elections. Tharoor said the Congress and INDIA bloc candidates will do better than the 2019 Lok Sabha elections. “I would say with some confidence that I am looking at the overall picture in the country with a great deal of self-belief.

NEW DELHI : New Delhi: The administrators of insolvent companies have approached tribunals to reverse questionable pre-bankruptcy transactions of businesses worth over ₹31,000 crore from 131 cases in the March quarter in an effort to maximise the resources available for restructuring them, official data showed. With this, the number of such voidable transactions flagged before tribunals by debt resolution professionals has gone up to 1,237 at the end of March, estimated at ₹3.7 trillion, up from ₹3.39 trillion at the end of December, according to data from Insolvency and Bankruptcy Board of India (IBBI), the rule maker for the sector.

central bank is expected to pay up to ₹1 lakh crore ($12 billion) as dividend to the federal government, economists said, a move that would boost New Delhi’s coffers and help meet its budget deficit target. The Reserve Bank of India’s central bank of directors is expected to meet this week and is likely to approve a dividend ranging between 800 billion to one trillion rupees, according to economists’ estimates. That compares with a transfer of 874.2 billion rupees last year and the government’s own target of 1.02 trillion rupees, which includes dividends from state-controlled banks.

Apple Vision Pro took place at Pristyn Care in collaboration with Mohak Bariatrics and Robotics. Dr. Bhandari led the procedure, which involved a sleeve gastric bypass and a Single Anastomosis Duodenal-Ileal (SADI) procedure on a patient weighing 155 kilograms.

NEW DELHI : Navigating the legal landscape of succession rights in India can be particularly challenging for non-resident Indians (NRIs) married to foreign nationals. Questions about the financial rights of offspring and spouses of NRIs whose marriages aren't solemnized in India often arise, creating a maze of legal intricacies. While the short answer is that there are no immediate issues, the longer answer uncovers several legal nuances.

ANI): Indian Army Chief General Manoj Pande said that the ancient Indian wisdom is rooted in a 5,000-year-old civilizational legacy, where immense value is attached to knowledge. «The ancient Indian wisdom is rooted in a 5,000-year-old civilizational legacy, where immense value is attached to knowledge. This legacy is exemplified by a vast repository of intellectual literature, the world's largest collection of manuscripts and nurturing of a multitude of thinkers and schools, across various domains,» Pande said at a seminar on 'Historical Patterns of Indian Strategic Culture' in New Delhi on Tuesday. Pande said that 'Project Udbhav', was conceptualized with the idea to «rediscover the profound Indian heritage of statecraft and strategic thoughts, derived from ancient texts of statecraft, warcraft, diplomacy and grand strategy and introduce relevant teachings into the present-day military».

New Delhi: Oil India reported a 13% increase in profit for the March quarter to ₹2,029 crore on high oil prices. Revenue from operations increased 2% year-on-year to ₹5,757 crore in the fourth quarter of 2023-24. Dividend and interest income doubled to ₹785 crore from ₹388 crore in the year-ago period.

New Delhi | Kolkata: Prime Minister Narendra Modi charged the Naveen Patnaik-led BJD government in Odisha and the Mamta Banerjee-led Trinamool Congress regime in West Bengal with corruption and an extremely slow pace of growth which has kept its farmers, youth and tribals in poverty and deprivation for the last 25 years. In his election campaign in Odisha, Modi sought votes for BJP to establish a double-engine government that would lift the state from its misery.

expressed grief over the demise of Iranian President Ebrahim Raisi, who died in a chopper crash. In his condolence message on X, formerly Twitter, Modi said India stands with Iran in ‘this time of sorrow’. "Deeply saddened and shocked by the tragic demise of Dr.

Reserve Bank of India (RBI) suggest that it may transfer a higher dividend — possibly in the region of ₹1 lakh crore — to the government than last year, giving a potential boost to New Delhi's finances. Last week, the RBI announced a steep cut in the government's borrowing through Treasury Bills, reducing the amount of funds that the Centre would have garnered through these short-term instruments by ₹60,000 crore. The central bank also took some measures to ensure greater success of an upcoming operation where the government plans to prematurely pay back ₹60,000 crore of earlier borrowings.

European Union about its proposed regulation that seeks to benchmark exporting countries as low or high risk basis deforestation levels. The EU's deforestation-free product regulation has implications for India's coffee, cocoa, soya, wood products, rubber and its products, and leather goods exports. The regulation requires firms to ensure that the product exported to the EU has been grown on land which has not been deforested after December 31, 2020. It prescribes fines up to 4% of a firm's annual turnover in the EU, confiscation of product and revenues gained from a transaction. The new rules will apply to large firms from December 2024 and small firms from June 2025.

business strategies that involve imports of crucial raw materials and machinery from China. Last week, S Jaishankar obliquely questioned the patriotism of firms that source material from China that could be bought or manufactured locally. 'If peace and tranquillity in border areas are disturbed, would you do business with someone who has just barged into your drawing room and is trying to make a mess of your house fencing? It's common sense that if a country has gone back on written agreements and is doing something on our borders, how can we then say that the business world will continue as normal and other things won't,' the foreign minister said at the CII annual business summit in New Delhi last Friday. The timing of this statement is significant for two reasons. One, it comes just 17 days before EC is due to announce the results of the ongoing parliamentary elections that will lead to the formation of the next government. Two, China has just emerged as India's biggest trading partner surpassing the US, according to figures released by Global Trade Research Initiative (GTRI).