Not only were Urjit and Rajan outsiders, they also hired laterally, bypassing the existing talent, especially in the field of economics
'His (Das) approach to work seems that of working as a team with ease in communication.'
A staunch defender of demonetisation, it would be interesting to see how he handles the government's increasing demand for more cash from the RBI, and letting some weak banks get out of prompt corrective action.
For willful defaulters, change in ownership accompanied by punitive action against the defaulting management is the way to go.
The main reason was that CPI inflation would likely remain below 4 per cent till July.
Stemming from the default of IL&FS in September, on various debt instruments including commercial papers, bonds and loans, the financial sector has been facing a liquidity crunch for the last eight to ten weeks.
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
Around 241 companies were sent for liquidation under the IBC by various NCLT benches and in only 58 cases have the resolution plans been accepted
An analysis for the first eight months of CY18 shows that the value of RuPay and UPI transactions constitute 65.2 per cent of all transactions done through debit and credit cards, in value terms, across retail outlets by the end of August.
Audit firms such as KPMG believe zero complaints may be an indicator of the lack of requisite mechanism to allow for such reporting
The currency with the public is 10.3 per cent higher than it was in the week preceding November 8, 2016 - from Rs17.97 trillion to Rs18.76 trillion.
Tension between the government, specially the finance ministry, and RBI is as old as the central bank itself.
Governments that did not respect the central bank's independence would sooner or later incur the wrath of financial markets, ignite economic fire, and come to rue the day they undermined the regulatory institution, Deputy Governor Viral Acharya warned.
JM Financial Consultants, Arpwood Capital and Alvarez & Marsal will advise the board going forward
The new board will have to provide the NCLT a road map for turning around the company by October 31, which, Kotak said, is challenging, given that the company's issues represent a "moving target"
'People, whose sensitive information has been leaked by State agencies or companies having license from UIDAI to access the Aadhaar database, can file suits, collectively or individually.'
The general nervousness because of the IL&FS default will prevail in the system for now.
The NCLT said the new board must hold its meeting by October 8 and come out with a road map before the next hearing on October 31
'When the rupee was at 65 a dollar, we wanted to go to Thailand for a holiday.' 'Now at 72, we may find Goa much more attractive.' 'That's how correction happens.' 'If you don't let that correction happen, then it's a pressure cooker that bursts one day.'
At least a 25 basis points hike can be expected on the October 5 policy
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