Wednesday, September 16
T N Manoharan, IDBI chairman and former president of Institute of Chartered Accountants of India, has passed away. In the past, he also served as a director at the instance of RBI in Sahara India Finance Corporation to protect the interest of depositors and winding up of the business and was appointed as Special Director by the Indian government on the Board of Satyam Computers Services Ltd. For his role in the Satyam revival team, he was awarded the Business Leadership award & Indian of the year 2009 and was also conferred with India's prestigious civilian award "Padma Shri”.Manoharan was also the non-executive Chairman of Canara Bank for five years from 2015 to 2020. His expertise lies in the field of Accountancy, Economics, Banking, Risk, Agriculture & Rural Economy, Small Sc
U.S. economic growth rebounded more than expected in the second quarter, but that grossly overstated the economy's health as subsiding imports accounted for the bulk of the improvement and consumer spending increased moderately. Gross domestic product increased at a 3.0% annualized rate last quarter, the Commerce Department's Bureau of Economic Analysis said in its advance estimate of second-quarter GDP on Wednesday. The economy contracted at a 0.5% pace in the January-March quarter, the first GDP decline in three years. The main GDP figure was heavily distorted by trade as was the case in the first quarter. Economists say President Donald Trump's protectionist trade policy, including sweeping tariffs on imports as well as delaying higher duties, has made it difficult to get a clear pulse
