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Jerome Powell, chairperson of the US Federal Reserve, has reiterated the Fed’s commitment to bringing down inflation to its preferred level of 2%. “We must keep at it until the job is done," Powell said on Friday, implying that interest rates will remain high until the Fed is confident that it has a firm grip on bringing down inflation. The Fed tries to control inflation by raising the federal funds rate, the interest rate at which banks in the US lend money to each other on an overnight basis.

RBI) has called on the directors of urban cooperative banks (UCBs) to enhance their governance practices, focusing on risk management, compliance and internal audit. “The governor stressed that the quality of governance was the most important aspect in ensuring stability of individual banks and urged UCB directors to further strengthen governance practices," RBI said in a press note on Wednesday.

Piramal Enterprises plans to double its loan book by FY28, with close to 70% of the portfolio comprising retail loans, said its chairman, Ajay Piramal. In an interview to ET's Deborshi Chaki, he said as part of the growth strategy, the company plans to reduce the ticket size of its wholesale book, lend to mid-sized corporates and exit its legacy wholesale book. Edited excerpts:

Uzbekistan and Oman in the US next month. The USMNT will take on the White Wolves of Uzbekistan on September 9 in St. Louis and Oman’s Gulf Samba three days later in Minnesota. They will meet Ghana and Germany in October.

Rahul Gandhi on Wednesday said women were the ones who suffered the blow of inflation as he explained the rationale behind the guarantee schemes his party's government was implementing in Karnataka. «I have met several women in the Bharat Jodo yatra, and in the 600 km I travelled across Karnataka, thousands of women told me they couldn't bear inflation,» he said. Gandhi was speaking at a massive launch of the Congress government's Gruha Lakshmi scheme in Mysuru, where he transferred Rs 2,000 each into the bank accounts of 10.8 million women beneficiaries with a click on a tablet. The recently reinstated MP also slammed the central government, accusing it of working for billionaires. «We think that the government should work for the poor and the weak,» he said. Under the Gruha Lakshmi scheme, which is the fourth of the Congress government's five major pre-poll guarantees to be implemented, women heads of low-income households in the state receive ₹2,000 in their bank accounts every month.

NEW DELHI : Germany will not sign a joint statement that ignores Russia’s war of aggression against Ukraine, said Germany’s G20 sherpa Jorg Kukies. In an interview with Mint, Kukies said that while G20 countries are willing to compromise on language relating to the Ukraine war, Germany does not agree with the position, as articulated by China, that discussion of the Ukraine war does not belong in an economic grouping like the G20. Kukies, who also serves as Germany’s state secretary for finance, noted the need for reforming multilateral development banks and increasing their lending capacity.

economic development by providing last mile connectivity, Reserve Bank Governor Shaktikanta Das Wednesday urged the directors of UCBs to further strengthen their governance practices, especially the three supporting pillars of compliance, risk management and internal audit. “The quality of governance was the most important aspect in ensuring stability of individual banks and the directors of UCBs are urged to further strengthen governance practices," the RBI governor said at a conference of directors on the boards of Tier 3 and 4 UCBs in Mumbai Zone.

Delhi Health Minister Saurabh Bharadwaj said on Wednesday. Besides, the Delhi health department has formed 80 teams of doctors and nursing staff, who will serve guests staying at hotels.

anti-dumping duty worth $41.8-243 per metric ton of toughened glass for home appliances imported from China. The proposed duty is for toughness glass having thickness between 1.8-8 mm and area of 0.4 SqM or less. The Directorate General of Trade Remedies (DGTR) made this recommendation based on an application filed by the Federation of Safety Glass on behalf of GSC Glass (P) Ltd.

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₹48,390 crore in IPL (Indian Premier League) rights for the 2023-27 cycle. That included ₹23,575 crore from Disney Star (TV rights) and ₹23,757 crore from Viacom18 (exclusive digital rights). Later, when the ICC (International Cricket Council) auctioned its rights for four years, Disney Star was in the thick of action again, picking up the rights for $3.03 billion.

By Sarah N. Lynch

Warren Buffett took control of Berkshire Hathaway in 1965, and nearly six decades later as the «Oracle of Omaha» turned 93 Wednesday, his conglomerate is stronger today than it's ever been.

reality, it added. Led by the US DOE Deputy Secretary David Turk and MNRE Secretary Bhupinder Singh Bhalla, the RETAP has been established as a result-oriented, time-bound platform with a keen focus on technology.

Hurricane Idalia hit Florida's Gulf Coast on Wednesday flooding several parts of the US state in precursor to what weather agencies believe will be a long season of more than predicted severe storms that is likely to go on till November this year. A category 3 storm hit Florida on Wednesday unleashing threats to life, property, with surging probability of rainfall across an area that has never before received such pummelling. Hurricanes are measured on a five category scale, with a Category 5 being the strongest.

Zomato, which posted its first ever quarterly profit earlier this month, said it currently has no plans to pay dividends to shareholders but will look into doing so in future, chief financial officer Akshant Goyal said at the company’s annual general meeting on Wednesday. “We’ll continue evaluating that as we go along. At this point there is nothing that we’ve decided.

inflation and shift focus toward a reduction in gasoline and diesel prices ahead of some major festivals and key elections, according to Citigroup Inc. The government’s decision to reduce liquefied petroleum gas could lower inflation by around 30 basis points, economists Samiran Chakraborty and Baqar M. Zaidi said in a note Wednesday.

Reserve Bank of India urged the directors of Urban Co-operative banks to further strengthen governance practices emphasizing the importance of a professional Board of Management as the quality of governance was the most important aspect in ensuring stability of individual banks. The Reserve Bank stressed the need to strengthen the three pillars supporting pillars of compliance, risk management, and internal audit. The quality of governance was the most important aspect in ensuring stability of individual banks said RBI governor Shaktikanta Das ,addressing a conference of directors on the Boards of Tier 3 and 4 Urban Cooperative Banks (UCBs) in Mumbai Zone on the theme ‘Governance in Banks — Driving Sustainable Growth and Stability’. He noted that while the financial performance of the UCB sector improved at an aggregate level in recent times, concerns and vulnerabilities are seen for certain individual entities.

Rahul Gandhi on Wednesday said women were the ones who suffered the blow of inflation as he explained the rationale behind the guarantee-schemes the Congress regime was implementing in Karnataka.. “I have met several women in the Bharat Jodo Yatra, and in the 600 km I travelled across Karnataka, thousands of women told me they couldn’t bear inflation,” he said. Gandhi was speaking at a massive launch of the Congress regime’s Gruha Lakshmi scheme in Mysuru, where he transferred Rs 2,000 each into the bank accounts of 1.08 crore women beneficiaries with a click on a tablet. The recently reinstated MP also slammed the Central government, accusing it of working for billionaires. “We think that the government should work for the poor and the weak,” he said. Under the Gruha Lakshmi scheme, which is the fourth of the regime’s five major guarantees to be implemented, women heads of low-income households in the state receive Rs 2,000 in their bank accounts every month.

₹200 on domestic liquified petroleum gas (LPG) cylinders or cooking gas. The move comes in the backdrop of high inflation and also at a time when the government is gearing up for assembly elections in five states as well as general elections next year. Here's a look at the factors behind the decision and its likely impact.

NEW DELHI: The India Meteorological Department (IMD) has forecast a fresh spell of heavy rain over Odisha, Chhattisgarh, north Andhra Pradesh, and Telangana starting Saturday, due to the persistence of the monsoon trough at lower tropospheric levels from south interior Karnataka to the Comorin area. The monsoon trough, running along the Himalayan foothills at mean sea level, is set to amplify rainfall patterns from Saturday. Expect light to moderate showers with occasional thunderstorms and lightning, accompanied by isolated heavy downpours over Andaman and Nicobar Islands until Sunday, Gangetic West Bengal on Sunday, and Odisha throughout the weekend, IMD said.