Piloting the Specified Bank Notes (Cessation of Liabilities) Bill, Finance Minister Arun Jaitley said it will extinguish the government's liability towards scrapped notes and also eliminate the possibility of their bring used as parallel currency.
That's all it takes to protect an institution -- just one person with no past and no greed for the future, says Shekhar Gupta.
Balance is needed in selecting members for the proposed monetary policy committee, says Abheek Barua.
The year 2014-15 could well go as one of long-pending financial sector reforms, expected to have a lasting impact.
The panel was set up to suggest ways to reform India's monetary policy.
This is the first time in the RBI's history that a governor is leaving without willing to renew his contract
'We feel there is definitely something murky in the system.' 'Will anyone believe that Nirav Modi will go to a branch and bribe a low-level officer?' 'Just look at the people with whom he had moved around.'
We need a change in mindset, says the RBI Governor.
A glance back at some important events that occurred in 2018.
'Rajan brought in a healthy air of competition in the banking sector.'
Angry Congress members staged a walkout during Modi's address.
The Urjit Patel committee on monetary policy framework has proposed setting up of a monetary policy committee (MPC) that will be headed by the Reserve Bank of India (RBI) governor and accountable for achieving inflation target set by it.
Sahil Kapoor of Edelweiss Retail Capital Market Research says that setting up a monetary policy committee should have been the first step. And the central bank could have moved towards a formal inflation targeting mechanism after the processes and data sets are in place.
Prime Minister Narendra Modi on range of issues -- from Rafale deal to Ram temple and triple talaq.
James Wilson tracks down discrepancies in the much-hailed demonetisation policy and the subsequent statements of the government and the Reserve Bank of India.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
'When I met the prime minister on November 15 there was no RBI report with the prime minister as to why this was done.' 'When I asked the PMO officer about this, he said the RBI did not bring this to the PM and did it independently.' 'When I asked how could the RBI ban DCCBs from accepting deposits from farmers in old notes when the government gazette released on November 9 allowed them to do so, this officer told me that not even senior PMO officials had any idea about this RBI ban.'
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