Washington, April 9 (IANS) Bangladesh’s economy is expected to see a gradual recovery after a period of slowdown, supported by improving domestic demand and stabilising conditions, the World Bank said.Growth is projected at 3.9 per cent in fiscal year 2025-26, reflecting the impact of earlier political unrest and external pressures on economic activity, according to the World Bank’s latest assessment.The report said the economy is recovering from disruptions linked to political instability i…
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Washington, April 9 (IANS) Pakistan is facing mounting debt pressures, weak growth prospects and persistent structural vulnerabilities, which risks its economic stability, the World Bank said.The report highlighted that economies with high public debt, limited fiscal space and heavy external financing needs remain particularly exposed to global shocks such as rising energy prices and tighter financial conditions.Pakistan, now assessed under a broader regional grouping rather than South Asia, fal…
Mumbai, April 8 (IANS) Sanjay Malhotra on Wednesday said that the Reserve Bank of India has not found any major governance issues in HDFC Bank, even after the bank’s chairman stepped down citing ethical disagreements.Speaking after the monetary policy announcement, the RBI governor said that based on regular supervision, there are no material concerns about the bank’s governance.“Existing banking laws are clear and effective, and there is currently no need for any changes,” he said.“Ho…
Mumbai, March 24 (IANS) Indian stock markets ended the session on a strong note, with benchmark indices closing near their day’s highest levels, supported by gains in auto and banking stocks.Positive sentiment among investors was also driven by hopes of easing geopolitical tensions between the United States and Iran, despite mixed signals from both sides.The Nifty rose sharply by 399.75 points, or 1.78 per cent, to settle at 22,912.40. The Sensex also posted solid gains, climbing 1,372.06 poin…
New Delhi, March 3 (IANS) India’s largest private lender HDFC Bank has said that the UPI-based cash withdrawals will be counted as part of customers’ monthly free ATM transaction limits.The new development will come into effect starting April 1, according to the official statement.In a communication to account holders, the bank stated that cardless UPI cash withdrawals will no longer be treated as a separate category.Instead, they will be bundled with traditional debit card withdrawals when ca…
Mumbai, Feb 28 (IANS) Indian stock markets ended the week on a weak note, with benchmark indices falling amid global uncertainty and rising geopolitical tensions. Investors remained cautious as volatility in global markets and uncertainty around US-Iran talks dampened sentiment, even though India’s latest GDP data showed strong growth.For the week, both the Sensex and the Nifty fell around 1.5 per cent. Broader markets also remained under pressure, with the Nifty Midcap 100 and Smallcap 100 in…
Mumbai, Feb 23 (IANS) Shares of IDFC First Bank hit the 20 per cent lower circuit on Monday after the lender reported fraudulent transactions worth about Rs 590 crore, allegedly committed by its employees at its Chandigarh branch.The stock fell to Rs 66.85, its intra-day low, down 20 per cent. The shares opened 10 per cent lower and later extended their losses. At 10:33 am, shares were trading at Rs 70.10, down 16.06 per cent on the day.The bank said the matter is confined to a set of Haryana go…
New Delhi, Feb 22 (IANS) IDFC First Bank on Sunday disclosed a Rs 590 crore fraud at its Chandigarh branch involving Haryana government accounts, saying four suspected officials have been placed under suspension pending investigation.The Bank said in an exchange filing that it will pursue strict disciplinary, civil and criminal action against the employees and other external individuals responsible, in accordance with applicable law.The filing said that some employees at IDFC First Bank’s Chan…
New Delhi, Feb 5 (IANS) Describing the recent trade pact with the EU as a ‘Mother of all Deals’, Prime Minister Narendra Modi on Thursday recalled the Bofors gun kickback scandal in the Rajya Sabha as an example of previous corrupt governments and Congress leaders who prioritised “filling their own pockets” over public welfare. In his reply to the Motion of Thanks to the President’s Address, PM Modi said the previous governments and leaders did not give priority to improvement in the l…
Patna, Feb 1 (IANS) Reacting to the Union Budget presented by Finance Minister Nirmala Sitharaman on Sunday, Bihar Deputy Chief Minister Samrat Choudhary praised Prime Minister Narendra Modi and the Finance Minister, calling the Budget a “decisive step toward the resolution of a developed India (‘Viksit Bharat’)”. While sharing a post on social media platform X, Deputy Chief Minister Choudhary said that he listened to the live broadcast of the Budget along with senior Bharatiya Janata Party lead…