Recently, Russian
Ambassador to India Denis Alipov said that the “special bilateral
strategic partnership” between Russia and India is “growing stronger
than ever.”

‘Make in India’ has
apparently had a “visible effect” on the Indian economy, as stated by
Russian President Putin. The Russian government operates the international news
channel RT.Read also this: HDFC Will Rise to World’s Most Valuable Banks After Merger.

While addressing at a
Moscow event, Putin praised the impact that the “Make in India”
initiative had on the Indian economy, said that “Our friends in India and PM
Modi, who is a dear friend of Russia, introduced the idea a few years ago,
which has had an exceptionally evident impact on the Indian economy.”

According to RT, the
Russian president used India as an illustration of how to promote native
products and companies.

Ambassador Denis
Alipov, in New Delhi, has recently claimed this “special Russia-India
strategic partnership” is “growing

After a merger is
finalised, an Indian corporation HDFC will join the ranks of the world’s most
valuable banks, posing a new threat to the largest American and Chinese lenders
currently holding the top two slots.

By combining forces,
HDFC Bank Ltd. and Housing Development Finance Corp. have become the world’s
fourth-largest bank by equity market capitalization, just behind JPMorgan Chase
& Co., Industrial and Commercial Bank of China Ltd., and Bank of America
Corp. Its current market cap is over $172 billion.Read also this: Credit card purchases made abroad will not attract TCS’s interest.

The combined HDFC Bank
will have a customer base larger than Germany’s whole population upon the
merger’s anticipated July 1 implementation. It will have more than 177,000
employees and expand its branch network to more than 8,300.

HDFC has just surpassed
other financial institutions including HSBC Holdings Plc and Citigroup Inc.
State Bank of India and ICICI Bank, two Indian co

Approximately 40,000 police officers will be
recruited across France, according to Interior Minister Gerald Darmanin, in an
effort to prevent more strikes following the incendiary police shooting of a
teenager. Protests following the shooting death of a 17-year-old by police
during a traffic stop have turned violent, prompting the deployment of 5,000
police officers in Paris.Read also this: Credit card purchases made abroad will not attract TCS’s interest.

President Emmanuel Macron of France called the
attacks and arson on public facilities that occurred during the riots and
violent fights to be “unjustifiable.”

Everything you need to
know about riots in France is right here:

The second night of confrontations
resulted in approximately 150 arrests across the nation.The minister of the interior, Gerald
Darmanin, criticised attacks on schools, municipal buildings, and police stations.Olivier Veran, a spokesman for the
government, criticized the violent escalation o

The Union finance
ministry disclosed on Wednesday that the TCS rate remains unchanged for amounts
up to 7 lakhs per individual per year for all purposes under the Liberalized
Remittance Scheme (LRS) and for overseas travel tour packages, regardless of
the mode of payment. Credit card purchases made while travelling
internationally will not be included in the LRS & will not be subject to
TCS.Read also this: Reportedly costing India’s economy $1.9 billion, Internet shutdowns in Manipur and Punjab

The delay in enforcing
the new TCS rates is another policy decision made by the administration. On May 16, the
government included international credit card purchases within LRS, meaning
that beginning on July 1, a 20% tax would be applied to all international
credit card purchases. LRS previously supported the use of debit cards for
purchases. Some have even called the decision to tax TCS “tax
terrorism,” highlighting the widespread level of opposition to the
measure.

A su

Manipur and the
Punjab’s recent internet outages have had a devastating impact on India’s
economy. The shutdowns cost the economy around $1.9 billion, led to the loss of
roughly $118 million in foreign investment, and accounted for the loss of about
21,268 jobs. These startling numbers demonstrate the perilous effect that
internet blackouts have on India’s economy. The Net Loss calculator created by
the Internet Society predicts that by 2023, India would have a significant
shutdown risk, reaching 16 percent, due to its frequent usage of such shutdowns
to maintain public order.Read Also this: Live Mumbai Rain Report: Two Killed in Palghar, Cars Damaged in Thane, and Numerous Areas Flooded

The goal of the Net Loss
calculator, which is housed on The Internet Society’s Pulse Platform, is to
determine the global economic impact of internet outages. According to the
tool, India faces one of the greatest shutdown risks in the world. India could
be hindering its own economic de

Governor of the Reserve
Bank of India Shaktikanta Das stated on Wednesday that despite increased
uncertainty and strong headwinds, the Indian economy has made a robust recovery
and remains one of the fastest-growing large economies. He stated that stability
in finances is non-negotiable and that all parties involved in the financial
system must always work to maintain it.Read also this: Industrial profits in China drop, prompting calls for economic reform.

“The Reserve Bank,
as well as other financial regulatory agencies, remains firm in their
determination to preserve financial stability amid potential and growing
challenges,” he stated in the Financial Stability Report (FSR)
foreword.

He said that in the
current unstable international environment, policymakers everywhere should
prioritize maintaining macroeconomic and financial stability, restoring public
faith in the economy, and promoting sustainable growth.

Over the past three
years, the global economy ha

According
to Yasin Tadvi, the head of the disaster management cell for the Thane
Municipal Corporation, the city of Thane got a total of 200.08 millimetres of
rainfall in the period of 24 hours that ended at 8.30 in the morning on
Thursday. Several residences in low-lying areas, as well as the Dombivli police
station in Manpada, were flooded, according to the district’s disaster control
centre.Read also this: Industrial profits in China drop, prompting calls for economic reform.Additionally, some offices reported leaks due to the intense rain. A
video of the flooded police station quickly gained traction across several
social media platforms. In Thane city, firefighters and crisis management cell
teams were on their feet as they responded to numerous complaints about
flooding and tree falls. Six or more automobiles were damaged as a consequence
of these incidents.OTT India updates you with the latest news, Country’s no.1 digital news platform OTT India, Keeps you updated wi

Reuters stated that
China’s industrial firms have seen a steady decrease in annual profits, adding
weight to the argument that the country needs more policy support as it
attempts to bounce back economically from the COVID crisis. A year-over-year
drop of 18.8 percent in profits was seen throughout the first five months of
the year, on top of the 20.6 percent drop seen from January through April. Read also this: India will lift its countermeasure Tariffs on eight American items.

The National Bureau of
Statistics (NBS) provided these numbers to emphasize the overall weakness of
the economy, which is shown in the decline of retail sales, exports, and
investment in property. The youth unemployment rate also hit a worrying high of
20.8%.

According to Reuters,
Wu Chaoming, deputy director of the Chasing International Economic Institute,
said that more governmental measures are needed to help suffering enterprises
because of the slow rebound in industrial profitability. Th

According to government
sources, India will lift the additional levies it placed on eight US imports in
2019 in retaliation for the United States’ decision to boost tariffs on select
steel and aluminum products. The United States and India agreed to end six
World Trade Organisation (WTO) issues and lift the tariffs on some American
goods during Prime Minister Narendra Modi’s recent state visit.

The United States
increased the import tariff on steel products by 25% in 2018 and on aluminum
products by 10% for reasons of national security. In June of 2019, India
retaliated with tariffs on 28 U.S. goods.Read also this: Joe Biden believes the U.S. economy can prevent a recession.

According to government
sources, India will lift the additional levies it placed on eight US imports in
2019 in retaliation for the United States’ decision to boost tariffs on select
steel and aluminum products. The United States and India agreed to end six
World Trade Organisation (WTO) issues a