Indeed, there were frauds, and the politician-banker-industrialist nexus played a role in the rise of NPAs, but governance issues in Indian banking are far more nuanced and complex, reveals Tamal Bandyopadhyay.
RRBs were formed under an Act to provide credit to small farmers, agricultural labourers and businesses in rural areas.
In less than a week of Donald Trump being sworn in as the 45th US President, the "H-1B and L-1 Visa Reform Act" was introduced to prioritise American workers and restore fairness in visa programmes for skilled workers.
The government is also planning to set up specialised Benches for competition law to reduce the burden of the appellate tribunal, which is referred to on all matters from company law and IBC to competition law and the national financial reporting authority.
Is the RBI unable to accept with grace that beyond 55, one can have the ability to head the compliance functions in a bank, asks Tamal Bandyopadhyay.
United States Vice President-elect Kamala Harris has named her Chief of Staff, Domestic Policy Advisor and National Security Advisor -- an all-women team -- which she said has the experience to hit the ground from day one.
Reform ideas do not occur overnight and evolve over the years.
The government has proposed to implement GST from April 1, 2016, and the new Finance Commission may be set up ahead of its schedule to look into the issues related to the new indirect tax regime.
The Finance Ministry should encourage local manufacturing of currency paper to check counterfeits and exempt its production from excise duty, a high level committee has said.
Ernst & Young LLP India has been appointed as transaction adviser for the strategic divestment process.
The probe into selections for banks such as Bank of Baroda and Canara Bank followed the arrest of Syndicate Bank CMD S K Jain for alleged graft.
"Time has come for Pakistan to decide in its own interests. We will do what's in Pakistan's interests," Qureshi told Geo TV in an interview.
The World Bank's executive board unanimously selected 63-year-old Malpass, who is currently Under Secretary of Treasury for International Affairs, as the bank's 13th President for a five-year term beginning April 9.
Trump, 74, in his acceptance speech from the South Lawns of the White House amidst cheers from his supporters on Thursday night, said: "My fellow Americans, tonight, with a heart full of gratitude and boundless optimism, I proudly accept this nomination for President of the United States".
The reshuffle had politics at its heart, so the biggest complement of new ministers, both Cabinet rank and below, came from UP, which will see assembly elections in a few months.
On the 45th year of the imposition of Emergency in the country, Shah claimed leaders are feeling suffocated in the Congress and the party's disconnect with people keeps widening.
They are the first to be declared terrorists under the new anti-law, a home ministry official said.
The panel suggests the government be authorised to raise the thresholds, which trigger applicability of Corporate Social Responsibility provisions.
It is time the government cast its net wide for seeking expert advice on managing the Indian economy and formed a group to help it navigate the difficult days ahead, advises A K Bhattacharya.
This meeting has led to the deferment of the Goods and Services Tax (GST) Council meeting by a day.
Data on the new series given by a panel on real sector statistics shows that GDP grew by 10.23 per cent in 2007-08 and 10.78 per cent in 2010-11. There are some years for which the new figures show a deceleration in growth as well. The new series has 2011-12 as the base year while the earlier series had 2004-05 and 1993-94.
Amid slowdown blues, the government has unveiled a raft of measures over the past few months aimed at improving liquidity in the system, moderating interest rates as well as credit growth apart from addressing stress in the NBFC sector.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
The intention of the government is to cap prices of drugs that are essential and which the public widely uses.
The Bharatiya Janata Party-led National Democratic Alliance on Saturday demanded to know how the Joint Parliamentary Committee's draft report on 2G spectrum allocation issue had exonerated Prime Minister Manmohan Singh and Finance Minister P Chidambaram without examining them and appealed to all members of the committee to reject the document.
Tamil-speaking ministers assured that the draft will be reviewed before implementation.
The Centre has started the process of identifying around 30 crore priority beneficiaries who will be given vaccine in the initial phase. The Centre will procure the vaccine directly and make it available free-of-cost for the priority beneficiaries.
It would be a good idea to create independent oversight committees for each regulatory institution and indeed, even for their appellate bodies, says A K Bhattacharya.
The central government has agreed in-principle to Air India employees' main demands. It fears an industrial dissension now could impede the process of privatisation. It has agreed to bear the cost of liquidation loss on account of transfer to the Employees' Provident Fund Organisation (EPFO) from company-owned trusts, inclusion of employees in the central government health scheme (CGHS), and encashment of leaves. The template of the Air India process will be followed for other public sector undertakings up for privatisation at a later date.
The 47-year-old Ganguly was officially entrusted with the task of heading Indian cricket for the next nine months at the BCCI's General Body meeting in Mumbai, ending a tumultuous 33-month reign of the Supreme Court-appointed Committee of Administrators (CoA).
Indian American Aditi Hardikar has been appointed to a key White House position to liaison with LGBT as well as the Asian American and Pacific Islanders communities.
US Secretary of State Mike Pompeo says China 'protects' violent Islamic terror groups from UN sanctions.
Inflation in food articles during May stood at 1.13 per cent, as against 2.55 per cent in April.
'The AMs are a different beast and reflect the political play within the government.' 'Prime Minister Modi does not need to assuage any interest group to take the final call on any decision that belongs rightfully to the Cabinet,' points out Subhomoy Bhattacharjee.
The amendments give committee of creditors of a loan defaulting company explicit authority over the distribution of proceeds in the resolution process and fixes a firm timeline of 330 days for resolving cases referred to the IBC.
A statement issued by the Interior Ministry also said the crackdown on Jaish 'has been taken in line with the decision of the NSC meeting'.
The Lok Sabha has already passed the Bill.
The most serious recommendations to change the financial year came in the years preceded by deficient rainfall. The Jha committee was formed after droughts in 1979-80 and 1982-83, reports Rishika Pardikar/IndiaSpend.
India handed over a dossier to Pakistan to take action against the JeM, as pressure mounted on Islamabad to take action against individual and organisation listed by the UN Security Council as terrorists.
