Kv Kamath has big plans as BRICS Bank chief.
Amidst bankers and industry crying foul over RBI's move to squeeze liquidity, Reserve Bank Governor D Subbarao on Friday met Finance Minister P Chidambaram ahead of first quarter policy review next week.
'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.
Sitharaman said economic slowdown seems to have bottomed out and the coming festive season will help the economy start looking up.
During the meeting with Finance Minister Nirmala Sitharaman, it was also suggested that employees' provident fund should increase its exposure in the stock market, which in turn would improve liquidity.
Gokarn was the first Indian central banker who regularised warnings to the government, through the monetary policy statement, on the need to reduce fiscal deficit.
Stressed MSME borrowers would be eligible for restructuring of debt, if their accounts were classified standard.
The RBI fell short of pumping Rs 150 billion into the economy at the beginning of 2018-2019.
Kamath also said that the new bank, set up by India and four other members of the BRICS grouping, will strive to approve its first loan before end of the current fiscal.
For any airline to be eligible for restructuring, the current ratio has to be equal to or higher than 0.4, while 'debt to Ebitda' has to be equal to or less than 5.5.
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.
The RBI recently met with a handful of foreign banks and asked them to stop acting as market-makers for rupee NDFs, according to three bankers involved in the discussions.
SBI-led consortium of 17 banks had a total exposure of about Rs 6,500 cr to Kingfisher Airlines.
It's unfair to over-emphasise Urjit Patel's shy and reticent image.
StanChart India CEO Zarin Daruwala is building a culture of 'celebrating liabilities,' the tough negotiator tells Niraj Bhatt and Anup Roy over lunch.
The crackdown on black money has manifested itself in a doubling in outward remittances as black money attempts to leave India.
While Arun Jaitley remains part of the decision making process, Piyush Goyal, who was given additional charge on May 14, attends cabinet meetings and takes the day-to-day decisions.
There will very little direct impact from the US Fed's rate hike this time, as we are well prepared both to handle liquidity, outflow of FII funds and managing our currency. But that doesn't mean India will be out of the woods anytime soon, says M V Subramanian.
Finance minister Arun Jaitley has delivered a Arun Jaitley delivered a bold, far sighted budget
'Rajan's exit will have a great impact on the economy.'
The intial round of efforts did not achieve the objectives fully.
The post-crisis debate on capital account management focuses on matching instruments with vulnerabilities.
I-T lens on current account deposits over Rs 12.5 lakh. All the news and more post demonetisation.
'I want to leave behind the bank stronger and better than when I took over.'
Three major central banks have hit the zero limit, the Fed, the European Central Bank and the Bank of Japan.
Volatility ain't going away any time soon. 2013 was the most volatile year for the rupee in at least the last 10, with 2009 not far behind.
'The three tycoons I deal with in the first chapter -- Ambani, Mallya and Adani -- in their own way represent the change that has come over India.' 'Of the three of them, Mallya is the most fun. He was terrific.' 'And I don't say that because I tell the story in the book of his golden toilet.'
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
India' can't succeed unless it is made easier for people to do business.
Mumbai's famous dabbawalas are reinventing themselves to meet the challenge posed by food delivery portals.
