Country Financial News

finance ministry has directed all state-owned banks to review their gold loan portfolio as instances of non-compliance with regulatory norms have been noticed by the government. The Department of Financial Services (DFS) in a communication addressed to heads of public sector banks has asked them to look at their system and processes related to gold loan. «We have asked banks to undertake comprehensive review of the gold loan business,» Financial Services Secretary Vivek Joshi told PTI. A directive in this regard was issued last month advising them to fix anomalies relating to collection of fees and interest and closure of gold loan accounts.

Abhinav Bharti is leaving the US bank, according to people familiar with the matter. He will be replaced by Arvind Vashistha, former managing director of Citigroup Inc. in India, the people said, asking not to be identified because the matter is private. Bharti is leaving after working for more than 13 years with JPMorgan, according to his LinkedIn profile. He was elevated to managing director in 2022. He joined the firm as an associate from Kotak Mahindra Bank Ltd.’s investment banking arm in 2010.

Pushpa Kamal Dahal ‘Prachanda' on Wednesday won a vote of confidence in Parliament, as the country struggled to maintain political stability. Prachanda, 69, a former guerilla leader from the Communist Party of Nepal (Maoist Centre) — the third largest party in the House of Representatives (HoR) — received 157 votes in the 275-member House of Representatives.

Vedanta-Foxconn joint venture, is expected to have an investment of around $20 billion. In a significant boost to India's efforts to establish a robust semiconductor ecosystem, Prime Minister Narendra Modi on Wednesday laid the foundation stones for three new chip manufacturing plants, two in Gujarat and one in Assam. The event, titled 'India's Techade: Chips for Viksit Bharat,' marked a milestone in the country's endeavour to ramp up its semiconductor industry.

Namo Bharat train crossing the Eastern Peripheral Expressway. He said the timeline gives a good perspective of the new India. “Great video…Your Timeline gives a good perspective of the new India we are building together," PM Modi wrote on the microblogging site.

Elon Musk says ‘AI will probably be smarter than any single human by next year’. How close are we to AGI? Announcing the update in a blog post, Google wrote: “Out of an abundance of caution on such an important topic, we have begun to roll out restrictions on the types of election-related queries for which Gemini will return responses.

Modi laid the foundation stone of the chip fabrication unit of Tata-Powerchip Semiconductor Manufacturing Corp at Dholera on March 13. He also inauguated the CG Power-Renesas outsourced assembly and test (OSAT) facility at Sanand (Gujarat) and the Tata OSAT unit at Morigaon (Assam). All three units were inaugurated virtually. On the occasion, the Prime Minister also addressed the youth across the country on the occasion. This is a historic day for India, the PM said, calling it a significant achievement and a first step towards a brighter future. The three projects had received Cabinet nod on February 29 this year.

Cryptocurrency exchange OKX's Singapore subsidiary has received in-principle approval for a payments licence to operate in the city-state, the firm said on Wednesday. The approval, granted by the Monetary Authority of Singapore, will allow OKX to provide digital payment token and cross-border money transfer services in Singapore, which has emerged as a centre for crypto in Asia in recent years.

By Tetsushi Kajimoto and Anton Bridge

Ramzan, ANI reported. According to a report from news agency PTI, the restaurant management contacted the police after the crowd went out of control, leading to a massive traffic jam in the area. Hundreds of people congregated at the restaurant for free haleem, the video shared by PTI showed.

Bengaluru's Rameshwaram Cafe set to open from March 9 as probe continues As per the AFP report, explosions are common in China due to lax safety standards and poor enforcement. Last month, at least 15 people were killed and 44 injured in a fire at a residential building in the eastern city of Nanjing.

PTI. Owaisi suggested that CAA should not be seen alone but together with NPR (National Population Register) and NRC (National Register of Citizens). He said, “This government is making rules after four years.

Pakistan Peoples Party said he decided to encourage prudent financial management and not burden the national exchequer. It is pertinent to note that Zardari is one of the richest politicians in Pakistan. “The President considered it essential not to burden the national exchequer and preferred to forgo his salary," President Secretariat Press Wing said in a press release on Tuesday as quoted by PTI. Former president Arif Alvi was drawing ₹8,46,550 per month, which was fixed by Parliament in 2018.

Donald Trump, whose single turbulent term in the White House transformed the Republican Party, tested the resilience of democratic institutions in the U.S. and threatened alliances abroad, will lead the GOP in a third consecutive presidential election after clinching the nomination Tuesday. With wins in Georgia, Mississippi and Washington state, Trump surpassed the 1,215-delegate threshold needed to become the presumptive Republican nominee. He'll formally accept the nomination at the Republican National Convention in July, by which point he could be in the remarkable position of being both a presidential candidate and convicted felon. Trump has been indicted in four separate criminal investigations and his first trial, which centers on payments made to a porn actress, is set to begin March 25 in New York City.

India has made «outstanding progress» under the leadership of Prime Minister Narendra Modi from being the 10th largest economy of the world to soon to be the third largest, a popular Indian American Congressman has said, adding that a revolution is going on in India because of digitisation. «The progress (of India) is outstanding (in the last 10 years). When I think Prime Minister Modi was elected, India was like the 10th economy in the world, then it became the fifth economy and very soon to be the third largest economy in the world. So there is absolutely no doubt that India has made amazing progress,» Indian American Congressman Shri Thanedar told PTI in an interview. Thanedar, 69, represents the 13th Congressional District of Michigan and is highly popular among Indian Americans across the country. A Marathi speaker, he travels to various parts of the US, meeting and interacting with various Indian American groups and organisations. He was in India as part of a Congressional delegation last August. «It's a country of young people. I think it has more young people, percentage wise than most nations. That is the strength of India. India has now embraced technology. We are seeing the digitalisation of the financial systems, the banking systems. That digitalisation, that progress, that technology has reached smaller towns, villages. So there is a revolution going on in India,» Thanedar said.

semiconductor projects worth ₹1.25 lakh crore via video conferencing today, Wednesday. He will also address the youth across the country on the occasion. Here are top 10 updates on PM Modi's scheduled events today, 1) In an official statement, the Prime Minister's Office (PMO) said Modi will lay the foundation for semiconductor projects in the Dholera Special Investment Region, Sanand in Gujarat, and Morigaon in Assam.

By Harold Isaac

By Brigid Riley

By Katya Golubkova

second straight Democratic nomination Tuesday and set up an all-but-certain rematch with the predecessor he blames for destabilizing the country. Biden became his party's presumptive nominee when he won enough delegates in Georgia. That pushed Biden's count past 1,968 for a majority of delegates to the Democratic National Convention in Chicago this August, where his nomination will be made official.

PTI, McCormick described PM Modi as a popular leader and said, “Prime Minister Modi is incredibly popular. I was just over there. I actually had lunch with Prime Minister Modi and several other congressmen, and to see his popularity across party lines really.