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governments in their national economies is rising, both through policy and expenditure. In India, of the total gov expenditure of 30% of GDP, two-thirds is carried out by state governments, including some spending financed by the Centre. To hobble state finances, in this context, is to express a strong death wish. Indeed, FPIs in government debt can invest in state government debt. But they do not. They have utilised hardly 2.6% of the permissible limit for state government securities. Why, then, is the Centre chary of letting state governments aggressively market a part of the debt they are eligible to raise abroad, particularly to migrants from their states? India is the world's biggest recipient of migrant remittances — $125 billion in 2023. Mexico, the second-highest, got about half as much. NRI deposits have been the mainstay of emergency foreign borrowings for India, time and again. Remember Resurgent India Bonds (RIBs) to tide over India's post-nuclear test isolation of 1998? India Millennium Deposits (IMDs) of 2000? And the foreign currency non-resident special deposits to tide over the taper tantrum of 2013?

Manipur Chief minister Nongthombam Biren Singh informed the assembly on Tuesday that altogether 63 persons were reported missing since the ethnic violence unfolded in restive Manipur in May last year. Out of them, 26 were found dead, 9 were traced out alive and 28 are still missing, informed Biren, while responding to posers raised by legislators on the fifth and last day of the 5th session of 12th state assembly. On the missing of two standard XII students from Imphal West district’s Sagolband Tera area, the leader of the house said the Cental Bureau of Investigation has reported to have filed charge sheet against five accused arrested in the case.

MUMBAI : Financial news and data provider Bloomberg on Tuesday said it will add a set of Indian government bonds to its widely-tracked emerging market index, a development that could potentially attract investment flows of $3-4 billion beginning next year. Global investors with passive investment strategies buy stocks and bonds featuring in global indices, and Bloomberg's addition of Indian bonds promises to attract investments in them.

₹193.94 crores from anchor investors ahead of its initial public offering that opens for public subscription on Wednesday, March 06, 2024. The company informed the bourses that it allocated 48,36,657 equity shares at ₹401 per share on Tuesday, March 05, 2024, to anchor investors.

New York (Reuters) -Bitcoin hit a record high on Tuesday, fueled by investors pouring money into U.S. spot exchange-traded crypto products and the prospect that global interest rates may fall.

New Delhi: The plan to restructure Sri Lanka’s debt could be completed by June, two people aware of the matter said, as the island-nation prepared to reach an agreement with its creditors in the coming months. "We expect that the agreements will be finalized around June, which will help settle the debt restructuring process with Sri Lanka," said one of the officials mentioned above, requesting anonymity. In May 2022, India's southern neighbour defaulted on its overseas debt after its worst financial crisis since independence in 1948 emptied out foreign exchange reserves.

₹800 to reach a new all-time high of ₹65,000 per 10 grams in the national capital, driven by robust global trends, according to HDFC Securities. In the previous session, the precious metal had concluded at ₹64,200 per 10 grams. Spot gold prices (24 carats) in the Delhi markets are trading at ₹65,000 per 10 grams, up by ₹800, taking bullish cues from the overseas markets.

₹14.76 crore from eight anchor investors on Monday, March 4. Also read: Sona Machinery IPO opens on March 5, price band fixed at ₹136-143 Sona Machinery is a diversified agro-processing equipment manufacturer with an extensive product range and caters to setting-up of Complete Rice Mill Projects as well as processing of other grains like pulses, wheat, spices, millet, etc. Its state-of-the-art portfolio encompasses grains pre-cleaner machines, rotary drum cleaners, vibro classifiers, stone separator machines, paddy de-huskers, husk aspirators, rice thick/thin graders, rice whiteners, silky polishers, optical sorters, multi graders, length graders, belt conveyors, bucket elevators, etc.

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The world's largest cryptocurrency hit a high of $69,202, topping November 2021's all-time peak of $68,999.99. Investor interest has increased since the Securities and Exchange Commission approved 11 spot bitcoin ETFs in late January.

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By Tom Hals

Rajnath Singh on Tuesday witnessed the combat prowess of aircraft carriers INS Vikrant and INS Vikramaditya in a «twin-carrier» operation in the Arabian Sea and addressed the top naval commanders on the evolving maritime security scenario in view of geo-political upheavals. The inaugural session of the three-day naval commanders conference saw Singh embarking at sea to witness the Navy's ability to conduct operations deploying both the aircraft carriers. In his address to the commanders, Singh highlighted the Navy's important role in maritime security and maintaining India's sovereignty and urged the commanders to remain prepared to deal with all kinds of challenges while assuring the government's all-possible support. «If India's reputation has increased in the Indian Ocean Region and wider Indo-Pacific, it is due to the bravery and promptness of our Navy,» he said.

Jaishankar on Tuesday said strong alliances do not enhance a country's global standing while, on the contrary, India had a favourable result from loose or issue-based alliances. «Today, we see India in many ways as playing a useful role as a kind of bridging country which can contribute and address problems. And I think unfortunately the state of the world requires such services,» the minister said in response to a question following his address to the Korea National Diplomatic Academy here. Jaishankar's address was a part of the first leg of his four-day visit to South Korea and Japan. «I don't agree that strong alliances enhance global standing and lose alliances detract. At the beginning of our presidency of the G20, people were worried whether we would be able to get an agreement at the end of it and we had two problems — the Ukraine conflict and the issue of development. A lot of Global South had concerns. We have different ties to one group, I think it would have been difficult to get the G20 to come around had it not been such a case,» the minister said.

A firm which aims to be the go-to digital asset securities custody platform has hired a Wall Street veteran as its chief financial officer.

As a student or a fresh graduated person, it’s easy to overlook the importance of financial planning amidst the hustle and bustle of academic life. However, making a right start in managing your finances is crucial for a secure and prosperous future.

The Indian Navy on Tuesday said it “swiftly” responded in assisting a Liberian-flagged commercial vessel after it came under a drone strike in the Gulf of Aden.

India is “positively” considering specific requests from the troubled UN agency for Palestine Refugees for assistance in kind, even as Delhi expressed “serious concern” over recent allegations that some of its employees may have been involved in the October 7 Hamas terrorist attack on Israel.

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Chief mate Mahmoud Gwealy awoke to a loud bang that sent the laptop on his chest crashing into his nose. The 29-year-old Egyptian sailor had dozed off for the evening while watching Lebanese soap operas in the upstairs quarters of the Rubymar. The British-owned bulk carrier had been rocking in such high swells that he wondered if it had been slammed by a huge wave.