Household financial assets, including bank deposits, cash and equity investments, after deducting debt servicing and consumption, eased to 5.1 per cent of gross domestic product

savings, household savings

Ahead of Chhattisgarh assembly elections due later this year, Congress leader Rahul Gandhi will launch Mukhyamantri Gramin Awas Nyay Yojna (MGANY) in Bilaspur district on Monday.
This scheme is aimed at providing financial assistance to the homeless and families having kutcha houses in rural areas.
At 'Awas Nyay Sammelan', Gandhi and Chief Minister Bhupesh Baghel will disburse the first instalment of Rs 25,000 each to 1,30,000 beneficiaries for the construction of houses, officials said.
The event will be held at around 2 pm in Parsada (Sakri) village under the Takhatpur development block in Bilaspur district, a public relations department official said.
Of the 1.30 lakh beneficiaries, 1 lakh are those who are listed on the permanent wait list (PWL) under the Pradhan Mantri Awas Yojna (PMAY- rural), but are yet to get the benefit of the Central scheme, he said.
On the occasion, Rs 5 crore will be transferred to the accounts of 500 beneficiaries under Mukhyamantri Nirman Shramik Aw

Rahul Gandhi, rahul gandhi lok sabha

In August, the family acquired a 7.5 per cent stake in Religare Enterprises for Rs 534, taking its total stake to 21 per cent

Religare

The decision sets the stage for billions of dollars of inflows just when the bond market is straining under record government borrowings

Stock market, NSE

Prime Minister Narendra Modi will address a mega congregation of BJP workers here in poll-bound Madhya Pradesh on Monday.
The 'Karyakarta Mahakumbh' is being organised on the birth anniversary of Jana Sangh co-founder Deendayal Upadhyaya to mark the formal culmination of the BJP's 'Jan Ashirwad Yatras' that crisscrossed the length and breadth of the state, party leaders said.
This will be the third visit of the prime minister to Madhya Pradesh in the past 45 days where the ruling party is locked in a close contest with Congress.
According to sources, the BJP has set an ambitious target of gathering 10 lakh people for the 'Mahakumbh' event being projected as a show of strength by the saffron party.
As per the programme schedule, Modi will land at the Bhopal airport at around 10:55 AM and will fly to the Jamboree Maidan helipad in a chopper. He will address the public meeting after reaching the venue at around 11:30 AM.
"Modiji is going to address 'Karyakarta Mahakumbh' at Jamboree 

Modi

Not thinking about an IPO as of now, says chairman

Dr Krishna Ella

Higher discounts on Russian oil this month may help Indian refiners reduce crude sourcing costs and trim fuel marketing losses even as Brent crude crosses $95/barrel, weakening the country's finances

oil refinery, crude oil, oil

The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities.
Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent.
Equity markets were closed on Tuesday on account of Ganesh Chaturthi.
From the top-10 pack, Reliance Industries, HDFC Bank, ICICI Bank, Infosys, ITC, State Bank of India, Bharti Airtel and Bajaj Finance were the laggards while Tata Consultancy Services (TCS) and Hindustan Unilever were the gainers.
The market valuation of HDFC Bank plummeted by Rs 99,835.27 crore to Rs 11,59,154.60 crore. Shares of the company fell by nearly 8 per cent last week.
The valuation of Reliance Industries plunged Rs 71,715.6 crore to Rs 15,92,661.42 crore. The company's shares declined over 4 per cent past week.
ICICI Bank's valuation dropped Rs 29,41

HDFC Bank

NABARD to issue social sector bonds on Tuesday

Bonds, Govt bond

The Reserve Bank is likely to maintain status quo on policy rates for the fourth time in a row at its bi-monthly monetary policy review meeting early next month, as retail inflation continues to remain high and the US Federal Reserve has decided to keep a hawkish stance for some more time, according to experts.
The Reserve Bank had raised the benchmark repo rate to 6.5 per cent on February 8, 2023 and since then it has retained the rates at the same level in view of the stubbornly high retail inflation and certain global factors including elevated crude oil prices in the international market.
The Reserve Bank Governor-headed six-member Monetary Policy Committee (MPC) meeting is scheduled for October 4-6, 2023. The last meeting of the MPC, the highest rating-setting panel, was in August.
"We do expect the RBI to hold on to a status quo position this time as inflation is still high and liquidity tight. In fact, going by RBI forecast on inflation, it would be above 5 per cent in Q3 too

RBI, Reserve Bank of India

As the Ukraine war continues unabated, India has said the international community must question why the Security Council, the UN's principal organ tasked with the primary responsibility to maintain international peace and security, has been rendered completely ineffective to resolve the ongoing conflict.
The remarks by Sanjay Verma, Secretary (West) in the Ministry of External Affairs, came while he was speaking at the UN Security Council open debate on Upholding the purposes and principles of the UN Charter through effective multilateralism: maintenance of peace and security of Ukraine'.
He said the international community must pause and ask two pressing questions at the present juncture.
One, are we anywhere near a possible solution acceptable?, Verma said in his remarks on Thursday.
And if not, why is it that the UN system, and particularly its principal organ, this very UN Security Council, mandated to primarily maintain international peace and security, rendered completely ...

Ukraine war

Our pick of best stories this week explains how get more from your salary and what your life insurance plan should do

personal finance

Long queues of people were seen outside the Apple store at Mumbai's BKC - India's first Apple store. People were also seen standing outside the Apple Store at Delhi's Select Citywalk Mall in Saket

Apple, Apple iPhone 15, Apple launch event, Apple Wonderlust event, iPhone 15, iPhone, New iPhone

The company announced that it will sell 75 per cent stake in Glenmark Life Sciences (GLS) to Nirma for Rs 5,652 crore at Rs 615 per share.

Glenmark Pharmaceuticals

The United States will give USD 325 million in new security assistance to Ukraine, President Joe Biden has announced as he hosted his Ukrainian counterpart Volodymyr Zelenskyy at the White House and vowed to defend the war-struck country from Russian aggression.
The White House meeting on Thursday was the sixth in-person meeting between the two leaders.
"Mr. President, the brave people of Ukraine -- and that's not hyperbole; the people of Ukraine have shown enormous bravery and have inspired the world with their determination to defend these principles," Biden told Zelenskyy in the Oval Office of the White House.
"Together with our partners and allies, the American people are determined to see to it that we do all we can to ensure the world stands with you, and that is our overwhelming objective right now," he said, welcoming the Ukrainian leader for the third time at the White House this year.
"Our regular dialogue has proved that our countries are really, truly allies and strateg

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India's economic growth threatened as household savings hit 16-year low

Rahul to launch rural housing scheme in poll-bound Chhattisgarh today

Burman family makes open offer to acquire 26% stake in Religare Enterprises

India bonds finally at global high table with JPMorgan index inclusion

PM Modi to address mega meet of BJP workers in Bhopal ahead of polls

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