Gandhi was the executive director at the Reserve Bank of India before being promoted to deputy governor post.
Better protection for depositors and investors was one of the chief considerations in Union Finance Minister Nirmala Sitharaman introducing, on Friday, the Banking Laws (Amendment) Bill, 2024, in the Lok Sabha to amend four pieces of legislation. This amendment is also to improve audit quality in public-sector banks (PSBs), offer consistency in reporting by banks to the Reserve Bank of India (RBI), and provide for an increase in the tenure of directors in cooperative banks.
On Thursday, the SC had voiced "serious concern" over Governor Ravi's refusal to reinduct Ponmudi as a minister in the state cabinet even after the SC had suspended his conviction in a corruption case.
'...because it is still a legal tender.'
R Gandhi and K N Nehru, as ministers for handlooms-textiles and municipal administration respectively, would report to Chief Minister Stalin.
November 8 marks 6 years after demonetisation. A K Bhattacharya reveals how the prime minister and the RBI worked together for months before Modi's 8 pm speech. A riveting excerpt from The Rise Of Goliath: Twelve Disruptions That Changed India.
Chief Minister M K Stalin on Tuesday launched a Rs 225.86 crore welfare assistance scheme here for Sri Lankan Tamil refugees living in camps in Tamil Nadu and alleged that the previous AIADMK regime was not concerned about them.
Former RBI deputy governor R Gandhi on Tuesday made a case for treating and regulating crypto as a separate asset class with a view to enabling governments around the world to effectively deal with illegal activities associated with virtual currencies. After quite a lot of debate over the years, he said, people have fully understood that crypto cannot be a currency because the fundamental element of a currency- that it should be a legal tender- is missing in this case. He said that in this case, one cannot compel a crypto currency to be accepted by another person as it is not a legal tender.
Former RBI governor R Gandhi said that the RBI needs to re-introduce a one-time restructuring package and mere moratoriums will not suffice in unprecedented times like the COVID-19 pandemic.
In the aftermath of the PMC Bank mess which was in the RBI's highest rating of 'A' category, trustworthiness of these ratings may be up for a review.
Tamil Nadu Chief Minister M K Stalin's Cabinet, including him, would be 34-member strong and he has retained senior leaders like Duraimurugan and over a dozen shall be ministers for the first time.
Large urban co-operative banks may come to be solely under the provisions of the Banking Regulation Act, even as the smaller among them are to remain within the exclusive fold of the Registrar of Co-operative Societies. The upcoming changes will bring the curtains down on the vexed issue of dual control of UCBs, which has been in vogue for 54 years. The new framework will affect 1,551 UCBs in the country, which had a total business of Rs 7.36 trillion.
YES Bank said that it has not paid any bonus to Kapoor for FY17 and FY18. He drew a salary of Rs 6.48 crore for the ten months he served as MD & CEO, before his tenure ended in January.
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
Stalin owes his victory this time, like in 2019, to the hate-campaign of the local Hindutva forces, which kept haranguing him, and even his dead father, notes N Sathiya Moorthy.
In the wake of the pressing demands from Indian athletes to include their personal coaches in the Olympic contingent, the Athletics Federation of India has chosen four coaches for the London Games, giving preference to those who has medal chances.
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A rule change may make Nachiket Mor, among others, eligible to replace Chakrabarty.
As per the RBI Act, the central bank has to have four deputy governors.
The RBI has been repeatedly cautioning everyone about the usage of cryptocurrencies, flagging a slew of concerns.
The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
Mundra fills the vacancy created by the retirement of KC Chakrabarty in April, two months before his five-year tenure was come to an end.
It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
The successive works of a hit-maker are always eagerly looked forward to. Will he be able to re-create the magic, or will the film fall flat on its face?
'Put the assets of PMC Bank and the personal assets of the HDIL promoters and head of PMC Bank in an escrow account and ring-fence it from the ad hoc action of the revenue departments and creditors,' recommends Debashis Basu.
Kishore A Chaukar has been appointed as non-executive director and chairman on the board of TTML, with effect from March 24, the filing said.
Only Rs 10,720 crore of the junked currency notes did not return to the banking system, rest 99.9 per cent was deposited raising question mark over the government's effort of curbing black money through the demonetisation.
Tata Teleservices Maharashtra Ltd said on Friday that Ratan N Tata has been elected as the company's chairman. \n
Gopalakrishna's name was in the reckoning for Deputy Governor in place of Anand Sinha who retired in January.
Arun Jaitley had promised to provide more than the budgeted amount.
"The window (for NRIs) is open till June 30 in which people can deposit cash. And after adding all these, we will give out the number," Mundra said.
RBI conducts interviews for first lateral hire for CGM post; deputy governors to head four distinct verticals.
India Post may be keen to apply for payment bank licence.
The current limit of Rs 24,000 per week has been raised to Rs 50,000 for savings accounts.
'During the transition process, we have some control over the withdrawals.' 'In terms of your wealth, the money in your deposit account is where it is.'
The Reserve Bank of India is expected to kick off the pilot project on cheque truncation, which eliminates physical movement of cheques, in Delhi over the next 9-12 months.
The 42-year-old Acharya's appointment for a three-year tenure was cleared by the Appointments Committee of the Cabinet.
A 13-member group, headed by RBI Executive Director R Gandhi, has made various recommendations on G-Sec market, retail participation and interest rate derivatives market.
The rise in government borrowings through bonds is impeding the growth of the corporate debt market in the country.
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