The revelation is contained in prominent economist and former RBI Governor Bimal Jalan's newest book, The Future of India: Politics, Economics and Governance.
About 240,000 commuters travelled on the first day (Sunday) of the Mumbai Metro's operations, Reliance Infrastructure Ltd (RInfra) said on Monday.
Tells RBI this is not the time to consider such a foray, especially given the lack of funds to spare for such a venture.
In May, EPFO received deposits of Rs 6,500 crores (Rs 65 billion) which, is 200 crores more than what was received in April this year.
Former Reserve Bank Governors do not seen any harm in central bank consulting the government before firming up monetary policy initiatives saying such an step would not amount to infringement on its independence.
The additional cash will now give the Centre more headroom for stimulating the economy.
Two days after the repo rate cut, the Reserve Bank of India governor Bimal Jalan on Monday said the soft interest rate bias will continue.
Reliance Infrastructure said it plans to commission the Mumbai Metro rail project this year.
Reserve Bank of India Governor Bimal Jalan said on Friday that there was no proposal to lower the short-term benchmark repo rate now.
Jalan has unquestionably left an indelible mark on Mint Street.
The Finance Ministry has been pitching for EPFO funds to be invested in the equity markets to maximise their yields.
RBI Governor Bimal Jalan on Thursday ruled out the possibility of a change in Repo rate, but hoped that inflation would turn soft from the second quarter of the current fiscal.
The Reserve Bank of India on Tuesday cut the bank rate by 0.25 per cent to 6 per cent with effect from close of business hours.
High support prices, wage inceases and RBI's assumption of an 'acceptable' rate of inflation are responsible for the continuous price rise.
Reserve Bank of India on Wednesday expressed confidence that the Indian economy has the resilience to face any problems that might crop up in the event of a war in Iraq and said the soft interest bias would continue despite a rise in price level.
Reserve Bank of India chief Bimal Jalan reiterated on Monday the bank's soft monetary bias but said there was no immediate plan to cut the short-term repo rate.
Foreign brokerage Bank of America Merrill Lynch said they expect the headline inflation to rise to 3.3 per cent in May, but added that it is within the 2-6 per cent range which the government has set for the RBI.
In the event of a Chinese attack on Arunachal, troops and equipment from mainland India will travel on the existing south bank railway till Bogibeel, cross the Brahmaputra on the new bridge and then head further east on the Strategic Rail-Road Link, once it is ready.
For 2017-18 and 2018-19, investors are better off focusing on the quality of measures announced in the Budget and outside it rather than on the Budget numbers themselves, says T T Ram Mohan.
The Reserve Bank of India, which slashed the repurchase rate (repo) and savings bank rate by half a percentage point each on February 28, is certain to cut the bank rate in April.
Churchill Brothers' hopes of making it to the next round of the AFC Cup suffered a jolt when they lost 0-1 to Warriors FC in an away match in Singapore, on Wednesday.
Last month, the Bimal Jalan panel, which scrutinised applications for new bank licences, submitted its report along with shortlisted entities to the RBI.
"Fact that persons with disabilities get marginalised from every scheme does not require a debate," the court said.
EPFO has verified or attested 64.67 lakh Aadhaar numbers.
In its UP Vision Document, the BJP had promised it would shut down illegal and mechanised abattoirs in the state if it came to power.
Rules for market infrastructure institutions such as stock exchanges, clearing corporations, and depositories have come under review by Sebi after five years.
Retirement fund manager EPFO that has initiated the process of seeding KYC details like PAN, Aadhaar of contributing members for making Universal Account Number (UAN) has set a target of seeding 2 crore (20 million) bank account data by end of this month.
The company will now focus on value creation for shareholders in the defence and construction businesses.
Employees Provident Fund Organisation is likely to issue permanent account numbers to employees.
Taking the first step towards launch of online PF transfer claim facilities, retirement fund body EPFO has unveiled the revised transfer claim form for the purpose.
Bimal Jalan cmmittee's recommendations must be viewed in the context of the lessons learnt from the trans-Atlantic financial crisis and the impact that distortions and mis-governance in the financial sector can have on the real economy. The report's focus on stability of markets is, therefore, important.
Overall the Union Budget 2011-12 has been a balanced budget. The government is moving in right direction with regard to reforms.
Bombay Stock Exchange (BSE) shares have lost more than a third of their value in the last six months, as a lacklustre market has hurt volumes in the exchange's cash segment and several efforts to revive its derivatives segment are yet to show results.
At present, the EPF subscribers are exempted from paying income tax on deposits.
In its essence, GST is a national level system of value added taxation of goods and services, says Shankar Acharya.
The ones who came more recently were clutching the green cards that gave them an escape hatch through which to return to green pastures: Arvind Panagariya, Raghuram Rajan, Arvind Subramanian and other perfectly honourable gentlemen like them, points out T N Ninan.
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