City Sankar Financial News

Anganwadis to improve child nutrition. Alongside efforts to upgrade these centres with improved facilities like study areas, play zones, and restrooms, there’s now talk of a potential menu update. This comes after a video of a child requesting biryani and chicken fry instead of the usual food went viral.

Subscribe to enjoy similar stories.Soumya Sankar Bose’s new show We Need to Talk In Whispers at Experimenter, Ballygunge, in Kolkata is inspired by a journal he found on an overnight train journey from Howrah to Koraput. It seemed to be a curious “exploration of thanatology,” as the exhibition notes explain, a repository of “suicide notes” and “memories people hold on to in their final moments”.

The Reserve Bank of India’s deputy governor T. Rabi Sankar recently responded to a question at a Mint conference on whether stablecoins have a role in the financial system by saying they serve no purpose that fiat money cannot serve. We respectfully disagree.

Subscribe to enjoy similar stories. The Reserve Bank of India's monetary policy committee (MPC) on Friday cut the key policy interest rate by 25 basis points to 6.25% to support growth. At a post-policy press conference, new RBI governor Sanjay Malhotra spoke on a range of issues such as implementation of the proposed guidelines on liquidity coverage ratio (LCR), working with the government on various recommendations, geopolitical developments, and the cost of policy actions on regulated entities.

Reserve Bank of India (RBI) on Friday reviewed the global and domestic economic situation and outlook at a meeting chaired by new Governor Sanjay Malhotra. The 612th meeting of the Central Board of Directors of the RBI also placed on record its appreciation of the valuable services rendered by Shaktikanta Das during his tenure as the governor of the central bank. Das demitted officer earlier this month after completing an extended six-year tenure. «The Board reviewed the global and domestic economic situation and outlook, and discussed the activities of select central office departments as well as the draft report on Trend and Progress of Banking in India, 2023-24,» the RBI said in a statement.

Tripura Police detained 10 Bangladeshi nationals, belonging to the Hindu community. These people entered India by fleeing their village due to unrest and tensions in the neighbouring country. A police officer said that the 10 Bangladeshi nationals including two women, three teenagers and an elderly person were detained from the Ambassa railway station in Tripura before boarding a Silchar (Assam)-bound train.

extra jurisdictional" in its wish to audit the Clearing Corporation of India (CCIL) and India will never accede to its demands. Speaking at the annual BFSI event run by Business Standard here, Sankar said with a deadline to find a solution lapsing in October, no «specific deadline» has been set to settle the over two-year old imbroglio.

Subscribe to enjoy similar stories. Apple needs all of its iPhones to sell well. But it really needs the latest crop to succeed if the world’s most valuable tech giant is going to secure a foothold in the artificial-intelligence race.

This may be the case with central bank digital currency (CBDC). Announced in Nirmala Sitharaman's 2022 budget speech to bolster the unfounded belief that private virtual currencies (PVCs) like bitcoin, upon which an unpopular tax was levied, posed a threat that only a CBDC could counter, RBI was forced to railroad this project into the list of commercial bank priorities, and public consciousness. Had it been possible to rectify the misconception of its eminence grise, e₹ might never have been. After all, the capital gains tax on the sale of PVCs showed that GoI treated them as speculative assets rather than as competitive currencies. In any case, bitcoin did not threaten rupee transactions.

S B Madhavi, the first woman duffedar in the Greater Chennai Corporation (GCC), has found herself at the centre of a controversy after she was transferred from the mayor's office to the far-off Manali zone. At 50, Madhavi, who had been ceremonially engaged to accompany Chennai mayor R Priya, claims she was shunted out for wearing lipstick, disobeying a direct order not to do so, TOI has reported. The situation escalated after Madhavi received a memo on August 6 from the mayor's personal assistant, Siva Sankar, citing “dereliction of duty, not coming to work during working hours, and disobeying orders of seniors” as reasons for her transfer. In her response, Madhavi questioned the accusations and specifically addressed the issue of her lipstick.

Russia are exploring the idea of a dynamic reference rate to start a rupee-rouble market, along with allowing greater deployment of the rupee balance that has accumulated in course of trade between the two countries since outbreak of the Ukraine war. A reference or exchange rate is aimed at overcoming the dollar trade barriers raised by US sanctions imposed on Russia in February 2022. These, along with putting in place a payment confirmation mechanism, are expected to figure during a meeting of senior central bank officials and bankers in Moscow this week, two industry persons told ET. The Reserve Bank of India (RBI) recently took feedback from banks and financial institutions dealing with Russian funds registered in India.

Palantir Technologies said on Thursday it will offer its products, including the Artificial Intelligence Platform (AIP) on Microsoft's cloud platforms, which cater to the U.S. government and federal agencies such as the Department of Defense. The data analytics company will deploy its products, including the «Gotham» software — which assists in locating targets on battlefields — on Microsoft's Azure Government and Azure Government Secret cloud platforms. Palantir will «be the first industry partner to deploy Microsoft Azure OpenAI Service in classified environments,» CTO Shyam Sankar said in a statement.

Agartala: Raju Barman, the primary accused in the murder of Tripura's Bharat Ratna Sangha Club Secretary Durga Prasanna Deb (also known as Vicky), was remanded to eight days of police custody on Friday. According to officials, Barman was caught from Assam's Guwahati and brought back to Tripura on Thursday. On Friday, he was produced before the Chief Judicial Magistrate in West Tripura, who ordered his police custody until July 20. Special Public Prosecutor Sankar Lodh provided details of the case, saying, «Raju Barman was arrested from Guwahati two days ago. He was produced before the local magistrate for a transit remand, which was granted with the condition that he be brought before the Tripura court by July 12. Following this, he was presented before the Chief Judicial Magistrate of West Tripura, where the court granted an eight-day police custody. The police had requested 10-day custody, while the defence sought bail.»

Pema Khandu will become the chief minister of Arunachal Pradesh.

Amalapuram: TDP’s GM Harish (Balayogi) leading and YSRCP’s Rapaka Varaprasada Rao trailingAnakapalle: BJP’s C.M. Ramesh leading and YSRCP’s Budi Mutyala Naidu trailingAnanthapur: TDP’s Ambica G Lakshminarayana Valmiki leading and YSRCP’s Malagundla Sankar Narayana trailingAraku: YSRCP’s Gumma Thanuja Rani leading and BJP’s Kothapalli Geetha trailingBapatla: TDP’s Krishna Prasad Tenneti and YSRCP’s Nandigam Suresh Babu trailingChittoor: TDP’s Daggumalla Prasada Rao leading and YSRCP’s Reddeppa.N .

European banks, which also play key custodian roles in the local sovereign debt trade, have sought the Reserve Bank of India's (RBI) go-ahead for a third-party transaction model to break the impasse involving their home authorities and domestic policymakers over audit oversight rights. «There was a meeting last month between the heads of four European banks and top RBI officials. The banks have sought the RBI's approval on the proposed third-party model because there is no established rulebook for this kind of arrangement,» a source aware of the developments said. After the meeting, attended by RBI deputy governor T Rabi Sankar, the overseas lenders concerned expect the central bank to communicate its views within the next few weeks, another source said.

renewable energy firm GPS Renewables has raised $50 Million (Rs 411.50 Crores) in debt financing from a clutch of private and public sector banks, and non-banking financial companies including Punjab National Bank, HDFC, Yes Bank, and HSBC Bank among others. The funds will be used for its nationwide execution of compressed biogas plants. GPS Renewables provides end-to-end solutions for the development, production, and distribution of biofuels.

Bank Digital Currency (CBDC) transaction volumes have gone down after crossing 10 lakh in late-December 2023, Reserve Bank of India Governor T Rabi Sankar said on Friday. The overall number of transactions has touched 2.2 crore since the launch of the CBDC pilot on December 1, 2022, Sankar said, adding that the number of participants in the pilot stands at 50 lakh. «Volumes have not been the same, they have come down,» Sankar said, adding that the target of 10 lakh a day was met earlier on the back of measures such as interoperability with a very popular UPI platform. As per a news report, banks disbursed employee benefits using the digital rupee in December, which helped the Reserve Bank of India (RBI) meet its target of 10 lakh daily transactions.

IIM Bangalore (IIMB), has partnered with GPS Renewables, a full-stack, clean fuels technology and engineering company, for the second edition of Campus Founders – a student entrepreneurship programme aimed at supporting college-based startup founders and recent graduates in transforming their startup ideas into thriving businesses. The collaboration assumes significance as GPS Renewables was co-founded 12 years ago by two IIMB graduates Mainak Chakraborty and Sreekrishna Sankar. Campus Founders focuses on innovative solutions in sustainability, climate change and hardware development. The four-month long programme is tailored to cater to students' needs, allowing them to evolve their ventures while still pursuing their studies.

legal risk, cyber risk and the impact artificial intelligence and machine learning (AIML) will have on the banking system as these new technologies take shape for a larger role in public like Reserve Bank of India (RBI) deputy governor T Rabi Sankar said. Sankar who oversees the department of fintech, currency management and department of payment and settlement systems at the RBI among others said banks as risk managers have to be aware of the changes AIML will bring even as they figure out the implementation of these technologies in day to day operations. He suggested that it would be better if the training of people and upgrade of systems can be co-ordinated between banks by industry bodies like the Indian Banks’ Association (IBA) because the nature of AIML technology is very different from before.

Dealshare said it has appointed Kamaldeep Singh as its CEO. Post the development, another cofounder Sourjyendu Medda has also left the firm joining Vineet Rao and Sankar Bora who moved on from DealShare. Singh joined Dealshare in December 2022 as president of the retail business at the Bengaluru-based firm. He was previously the chief executive of BigBazaar. Singh's appointment comes after an investor-led restructuring at the firm. ET reported in November last year about Singh being the frontrunner for the post of Dealshare CEO.