The RBI has reason to be concerned. Banks’ exposure to mutual funds (MFs) has more than trebled, from Rs 45,000 crore to Rs 1,64,000 crore, during March-November 2009. The RBI is worried that stock market volatility could impact banks and, hence, enDanger financial stability. Hence, the overall cap on stock market exposure as part of macro-prudential regulation. Currently, the aggregate exposure of a bank to the capital markets in all...

The road to Khardung La begins in the Indian town of Leh on the northwestern fringe of the Himalayas. Exhaust-spewing army trucks rattle up the side of dry rock, past Buddhist monasteries clinging to the craggy mountainside and alongside small farms barely scraping fertility from the earth. Khardung La, the highest motorable mountain pass in the world, is more than 18,000 ft. above sea level, the air so thin that...

The group of four emerging economies sets June 2010 as deadline to reach consensus  Further negotiations on any unresolved issues should be in accordance with Bali mandate Rich nations should provide finance and technology support to developing countries Not hopeful of an agreement on climate change at Copenhagen — the negotiations for which begin next week — the group of four emerging economies, Brazil, South Africa, India and China, have set June...

Today 56 newspapers in 45 countries take the unprecedented step of speaking with one voice through a common editorial. We do so because humanity faces a profound emergency. Unless we combine to take decisive action, climate change will ravage our planet, and with it our prosperity and security. The Dangers have been becoming apparent for a generation. Now the facts have started to speak: 11 of the past 14 years...

In a year of sparse rains and spiralling food prices, with hundreds of districts being officially declared as drought-hit, a rally by activists in the capital demands a Food Entitlements Act.  Perhaps the most vocal demands at the rally were those aimed at a complete revamp of the Public Distribution System (PDS), starting with universal — instead of targeted — coverage. Over 5,000 grassroots activists, agricultural workers, farmers, lawyers, doctors and...