Nationalisation has served its purpose. It's time to move ahead, keeping majority ownership of the government in a few banks to serve the people, argues Tamal Bandyopadhyay.
Traders suspect The Reserve Bank of India (RBI) bought bonds and actively intervened in the rupee to support sentiment.
The mood at the Indian Institute of Management, Ahmedabad (IIM-A) is festive, with one of its alumnii, Raghuram Rajan taking over as the next Reserve Bank of India (RBI) governor.
The RBI expects inflation in 2015 to hover around 6 per cent -- its target for January 2016 -- and sees risks to the target evenly balanced.
As Indians scrambled to exchange the banned notes for new currency, Paytm, Sharma's digital payments startup, went on a promotional spree, inviting Indians to start using Paytm's digital wallet to pay for everyday goods and services.
Rajan said the RBI is working on upgrading the capabilities of its inspectors to undertake bank system audits as well as to detect vulnerabilities in them
The RBI said that the impact of unseasonal rains is still unfolding.
The HSBC Manufacturing Purchasing Managers' Index, compiled by Markit, fell to 52.4 in August from 53.0 in July but chalked up its tenth month above the 50 mark that divides growth from contraction.
The RBI working group's proposal to allow corporate houses to set up banks is a "bombshell" and at this juncture, it is more important to stick to the tried and tested limits on involvement of business houses in the banking sector, according to an article jointly written by former RBI Governor Raghuram Rajan and ex-Deputy Governor Viral Acharya. They also said that the proposal is "best left on the shelf".
In policy review meet in June, RBI Governor Raghuram Rajan kept interest rates intact.
Finance Minister Arun Jaitley on Sunday said there is no 'disconnect' between the two.
Jaitley said if interest rates were lowered, the economy could grow faster than 7-7.5 per cent.
The solution to this problem lies only in making the system more efficient, he said.
Nudging the RBI to cut interest rates to boost growth, Finance Minister Arun Jaitley on Sunday said he had already made his mind clear and hoped the central bank will take decision after taking into account various factors.
RBI conducts interviews for first lateral hire for CGM post; deputy governors to head four distinct verticals.
All policy planners want low interest rate, says Jaitley
The hardening of the Wholesale Price Index follows an uptick in retail inflation.
He will be the first bureaucrat to head the central bank in almost five years.
Highly-placed sources in the government say that none of the senior ministers had any inkling of Patel's resignation
HDFC Bank slashes base rate by 0.35 per cent to 9.35 per cent, effective Tuesday.
A reading above 50 represents expansion while one below means contraction.
The chances of a rate cut in September have risen.
Although this may not be music to Raghuram Rajan and Viral Acharya's ears, the real reason in my estimation for their quitting is expatriate over-sensitivity, intolerance or arrogance, argues B S Raghavan, the distinguished civil servant.
The appointment will be made by Prime Minister Narendra Modi in consultation with Finance Minister Arun Jaitley.
The report also described the RBI as an "extremely visionary, pragmatic and fairly independent" organisation throughout its history
RBI data show one-fifth of all the infrastructure loans are stressed and the share of such loans in overall stressed assets is nearly a third.
Rajan said there will be some volatility, but once the initial bout or wave abates, people will look for good fundamentals
'India's economic fundamentals are much too strong to be affected by his resignation,' says B S Raghavan.
The High Commissioner upon seeing Mallya walk in actually at the mid of the event, got up and left
"The issue in Iraq is still an area of uncertainty.
A Reuters poll showed only one out of 51 economists had expected a 50 basis points rate cut.
RBI Governor has been under pressure from Finance Ministry.
In April, RBI had projected retail inflation to be around 5 per cent.
A strong currency helps in fighting some of the import-led inflation.
The Reserve Bank of India's ongoing inspection of the book of accounts of Syndicate Bank is unconnected with last week's arrest of S K Jain, its chairman and managing director.
P Chidambaram on Saturday wondered whether the Modi government "deserves" Raghuram Rajan
Arun Jaitley had promised to provide more than the budgeted amount.
Increased demand for the dollar weighed on the local currency.
The central bank dashed hopes of any steep interest rate reduction.
ICICI Bank and HDFC Bank have effected a cut of up to 0.50 per cent in term deposit rates following tepid credit growth and ease in money market rates.
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