The US dollar has risen about 15 per cent since mid-2015.
Rajan tells RBI colleagues he will be returning to academics
'The day-to-day control of banks is in the hands of political bosses and bureaucrats who are not answerable.' 'The political system uses the banks as a helicopter to throw money to the sector they want to patronise in order to win the next election.'
Banker Meera Sanyal and activist Mayank Gandhi figured in the Aam Aadmi Party's first list of probable candidates released late on Thursday night for forthcoming Lok Sabha elections in Maharashtra while no senior leader's name featured from Delhi and Haryana.
The BCCI is exploring the possibility of playing a cricket series against traditional rivals Pakistan at a neutral venue like Dubai or Sharjah in the near future.
Federal Reserve Chair Janet Yellen on Wednesday pointed to a possible December interest rate "liftoff" but said rates would rise only slowly from then on to nurture the U.S. economic recovery.
2013 foreign currency non-resident deposits to mature in Sep-Nov
'These are interesting days for watchers of English cricket and central banking,' points out Amol Agrawal.
Insolvency professionals feel the bankruptcy code will deter defaulters, but NPAs will not cease unless banks are sensitised on credit appraisal and experts are hired by banks to inspect what is happening with their loans.
No longer an in-house task; hiring legal eagles is now becoming norm for M&As, fundraising
'There is no difference between the earlier government and the present government.' 'They are all following the economic policy based on the Chicago School of thought.' 'This school of thought says the government should have very little role in governing the country and the majority of the work should be handed over to the private sector.' 'This has not succeeded in the US.' 'Yet, it is being tried here by people like Arvind Subramaniam, Arvind Panagariya, Urjit Patel and Raghuram Rajan.'
If indeed we want the board to manage the RBI, probably the government should take a close look at the US Federal Reserve system which has a two-part structure - a central authority in Washington, DC, and a decentralised network of 12 Federal Reserve Banks located throughout the country, says Tamal Bandyopadhyay.
Urjit Patel's reappointment will raise market hopes that Rajan, will also be offered an extension when his tenure ends in September.
The resignation is sure to create more political firestorms for the government as it comes on the eve of the winter session of Parliament where the Opposition has already made it clear to the treasury benches that infringing on the RBI autonomy would be a big talking point for them.
RBI had on February 12, 2018 issued a circular saying that lenders have to provide for resolution plan within 180 days in case of large account of Rs 2,000 crore and above.
Jaitley said the government had earmarked Rs 25,000 crore (Rs 250 billion) for recapitalisation.
After the screening, the shortlisted candidates will be vetted by an external committee, to be headed by former RBI governor, Bimal Jalan.
The new president of the International Olympic Committee, who will be elected next month, must ensure future Games' hosts comply with human rights according to the Olympic charter, human rights organisations said on Friday.
Addressing bankers and economists at Bancon 2013, a flagship event of the Indian Banks' Association, Chidambaram told the lenders to deal firmly with wilful defaulters, but handhold those who are reeling under the impact of the economic slowdown.
To contain rising bad loans, the Reserve Bank on Tuesday proposed a slew of measures, including incentives to lenders for coming together and tackling an account timely and penalising borrowers with higher interest rates in future for not cooperating for a resolution.
The Governor had submitted his report to the Public Accounts Committee and put the blame on 'overall economic downturn'
'The Modi government has been taking credit for improvement in respect of the ease of doing business in India.' 'But when I look at the scams I cannot help feeling that it is too easy to do business with banks in India, if one is a Harshad Mehta, Vijay Mallya or Nirav Modi and their tribe,' says former Union home secretary Madhav Godbole.
His finest years came when he served as deputy governor under C Rangarajan.
Not only were Urjit and Rajan outsiders, they also hired laterally, bypassing the existing talent, especially in the field of economics
'Flush with funds, lending became a cash management exercise.' 'Road projects, power generation plants, airports etc were financed left and right with apparently no regard for the projects' ability to repay,' explains S Muralidharan, former managing director, BNP Paribas.
'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.
The options include involving jewellers as collection centres, addressing of issues that banks have been facing and using domestically available gold for giving metal loans to jewellers for domestic sales.
'Credit expansion is probably the quickest way to get the economy going again.' 'Easy credit is like a shot of nitro in a race car: In timely, small, quick, doses it can give a tremendous boost but carried to extreme it can destroy the engine,' points out S Muralidharan, former managing director, BNP Paribas.
he reason behind the cut in policy rate seems to be a slowing economy
ICICI Bank has quashed rumours of favouritism, nepotism and quid pro quo. The bank clarified that while Chanda Kochhar was on the credit committee, she was not the chairperson. Videocon Chairman Venugopal Dhoot said there was no impropriety in the deal.
The Congress kept sheltering Quattrochi, and the BJP was more intent on shielding the Hinduja brothers. The fact is that the two roads crisscrossed, and neither the truth prevailed nor did the law take its course, says Mohan Guruswamy.
'It will be interesting to see how Dr Patel handles gadflies with the maturity of egregiously petulant three year olds.' 'That Dr Patel does not, in so far as we can tell, cause society matrons to gush like hormonal teenagers can only be a good thing for him.' 'Look where their febrile imaginations and breathless prose took his predecessor.'
'Is this the only way for India to become a $5 trillion economy?' 'When you have unused foreign exchange here, why borrow more dollars?'
Central bank sees action as discriminatory, unfair
For next fiscal, the minority stake sale target has been kept at Rs 36,000 crore.
Strong currency and sagging oil prices are spooking policymakers.
GIFT is a financial centre almost entirely devoid of bankers and, indeed, of people.
The 'bad bank' -- which will help banks clear their balance sheets by transferring the NPAs to special purpose vehicles -- has been one of the most debated ideas for stressed asset resolution.
It sets up internal panel to iron out issues companies face with delisting regulations.
Banks argued that loans of most lenders are funded primarily by retail deposits and not from the wholesale market as was the practice abroad
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