On 29 July 1969, Prime Minister Indira Gandhi delivered a speech in Lok Sabha on the nationalisation of 14 banks, saying the move was 'totally justified to ensure that hopes and aspirations of millions of our people are not sacrificed'.
There have always been questions over who controls cooperative banks in India, states or the Centre. The ordinance empowers RBI to intervene in failing banks.
With 40% of banks assets, or 32.4% of GDP, riding on this instrument alone, the debate about priority sector lending is not new. There is a new-found urgency to make it fit-for-purpose.
The chipmaker at the heart of the AI revolution may be the most influential stock in Wall Street history. Nvidia has been the primary driver of the market’s gains since the start of 2023.
ISRO’s LMV3 rocket set off the CMS-03 satellite from Sriharikota Sunday. It weighs 4,410 kg, will primarily serve Indian Navy and has a life of at least 15 years.
This world is being restructured and redrawn by one man, and what’s his power? It’s not his formidable military. It’s trade. With China, it turned on him.
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