To increase efficiency, SBI and its subsidiaries rearrange top management

State Bank of India (SBI)

The State Bank of India (SBI) has reshuffled its senior management and subsidiaries to improve efficiency, according to a media report published on Thursday. The portfolios of all four MDs have been reshuffled, according to the Indian Express story. SBI’s fourth MD, Alok Kumar Choudhary, DMD (Finance), was inducted. According to the article, he is …

To assist countries, the WTO should permit food exports from public stock

World Trade Organization (WTO)

India urged the World Trade Organization (WTO) on Monday to allow exports of food grains from public reserves for international food aid and humanitarian purposes, particularly on a government-to-government basis, because the UN’s World Food Programme was unable to meet demand. Commerce and Industry Minister Piyush Goyal stated during an agro intervention at a WTO …

The World Bank has lowered India’s GDP prediction for FY23 to 7.5 percent, citing increasing inflation

gross domestic product (GDP)

Based on inflationary pressures, supply-chain challenges, and geopolitical concerns resulting from Russia’s invasion of Ukraine, the World Bank decreased India’s real gross domestic product (GDP) growth prediction for 2022-23 (FY23) to 7.5 percent from 8%. The multinational agency also cut its global growth prediction for 2022 to 2.9 percent from 4.1 percent in its latest …

Dollar continues 20-year high vs yen amid inflation fears; Aussie falls

Asian trading hours

The dollar extended its overnight run into Asian trading hours on Tuesday, reaching new two-decade highs against the yen as concerns over continuing inflation drove up US bond rates. The dollar gained ground against the euro, pound, and Swiss franc. It also rose against the Australian dollar, with the market divided on whether the country’s …

In Prague, Jaishankar meets Indians and discusses the state of bilateral relations

External Affairs Minister S Jaishankar

External Affairs Minister S Jaishankar met with members of the Indian community here on Sunday and briefed them on recent events in India as well as the health of the bilateral relationship. Jaishankar is in town on the final phase of a two-nation journey to Slovakia and the Czech Republic, where he hopes to bolster …

Sugar stocks continue to decline, falling up to 9% as the government bans exports

Sugar company shares

Sugar company shares were under pressure for the second day in a row, tumbling up to 9% on the BSE in Wednesday’s trade after the government announced export limits on sugar on Tuesday. Sugar exports will be regulated by the government, with a limit of 10 MT for the current sugar season. Sugar mills have …

Biden tells Quad Summit: Russia-Ukraine conflict is a global issue, not a European one

US President Joe Biden

US President Joe Biden stated on Tuesday that the world is at a “transformative moment” that the Russia-Ukraine crisis is not merely a European but a global issue, and that Indo-Pacific states would-be allies and lead a global response to the Ukraine conflict. In his opening remarks at the Quad Leaders Summit conference in Tokyo, …

Assam flood death toll rises to 24; situation improves marginally

floods in Assam

Six more people perished in floods in Assam on Sunday, bringing the total death toll to 24, officials said, even as the water situation improved marginally. In 22 of the state’s 34 districts, about 7.19 lakh people have been affected. According to officials of the Assam State Disaster Management Authority (ASDMA), further deaths have been …