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After helping the government in policymaking since October 2014, Chief Economic Adviser Arvind Subramanian is returning to academics and will be teaching at Harvard Kennedy School on a visiting position. In an interview to Dilasha Seth and Somesh Jha, he says the ease of doing business agenda needs to move forward and India must try to integrate with the global value chains. Edited excerpts.
Analysts say strengthening bank's capital will boost earnings, bank needs chief with long stint to run show
According to SBI executives, the aim is to do things efficiently with an eye on profitability, and get a feedback on areas, including which business to enter and which to exit.
The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
While some trade union leaders have welcomed the move, industry has opposed it, fearing an increase in its wage bill
The objective behind the move is to "retain the membership of PF subscribers and to address the social security needs at the time of unemployment."
These recommendations are based on interactions held by the Banks Board Bureau with eligible candidates from PSBs towards appointment against vacancies in PSBs for the period 2018-19
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
It was primarily due to a higher trade deficit ($41.6 billion) brought about by a larger increase in merchandise import.
However, the road to profitability has already hit some hurdles for the Delhi-based bank as the Union government has rejected its demand for an additional capital infusion of around Rs 8,000 crore in 2018-19
The 'bad bank' -- which will help banks clear their balance sheets by transferring the NPAs to special purpose vehicles -- has been one of the most debated ideas for stressed asset resolution.
The law was amended to bring parity between public and private sector employees (including PSUs) after the gratuity limit was raised for central government on similar lines
The RBI has been critical of banks for using restructuring schemes to hide the stress.
About 1 million bank officers are expected to participate in the strike on May 30 and May 31
Some of the violations that will lead to community service include failure to pay social security contribution of workers, maintain records, furnish information to inspectors, pay gratuity to workers, provide crche facility and medical pay, and retrenching women workers during maternity leave.
Sources close to the development said a significant amount of around Rs 7,000 crore had been put into the SBI account with a proposal on escrow of the deposited funds.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
Ranjan was nominated to the board of ICICI Bank on April 7
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
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