Governments that did not respect the central bank's independence would sooner or later incur the wrath of financial markets, ignite economic fire, and come to rue the day they undermined the regulatory institution, Deputy Governor Viral Acharya warned.
MCX Stock Exchange, set up by crisis-hit NSEL's promoters, on Friday appointed Saurabh Sarkar as CEO and announced plans for fresh capital infusion by its existing shareholders among measures to boost business.
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
The recent protests by employees of Urban Company and the case of a a Zomato delivery executive who died in a road accident point to the severely straitened condition of gig workers during the ongoing Covid-19 pandemic. Budget 2021 had promised several measures to help the cause of gig economy workers, but most of them are yet to see the light of day. Even after a year, the country's gig workers continue to be without any social security cover or a minimum wage guarantee. "In Budget 2021, finance minister Nirmala Sitharaman had announced that the government is looking toward including migrant and gig workers for social security benefits," says Srinivas Kotni, managing partner, Lexport, a consulting firm. Parliament had passed the Code on Wages in 2019 and Code on Industrial Relations, Social Security and Occupational Safety, Health and Working Conditions in 2020.
There has been an exponential increase in the use of technology to validate financial numbers, with a greater reliance on electronic evidence, use of live videos where possible, data analytics, and project management software to overcome the physical limitations in verifying transactions and accounts.
'The CEO will neither be able to guide the senior team in operational matters nor decide on their appointment, compensation or removal.' 'Yet, the CEO is responsible for the profit and loss of the bank!' 'Why would the senior executives listen to him?' 'Which self-respecting professional would want to be a CEO with these constraints?' asks Tamal Bandyopadhyay.
PMC Bank depositors have spent the last one year holding protests, meeting politicians, writing to various authorities in an effort to get their hard-earned money back.
Multi-Commodity Exchange of India is the only listed bourse in the country
'So far as supervision is concerned, there are enough powers but to take action on public sector banks, consultation with the government is needed.'
Rediff.com highlights the provisions of the controversial Andhra Pradesh Reorganisation Bill, which was introduced by Home Minister Sushilkumar Shinde in Lok Sabha on Thursday amidst pandemonium.
Keep your mobile number and e-mail updated. When you receive the weekly report on cash holdings, check to ensure there is no discrepancy between the amount you have kept with the broker and what the latter has reported, advises Sanjay Kumar Singh.
Perhaps the way forward could be the introduction of uniform rating standards - on the lines of accounting standards for the accounting profession - with a separate regulating authority for enforcing those standards, says Sudipto Dey.
Reserve Bank has almost finalised the structure of Central Fraud Registry.
Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
For India, pulling out of the tournament, to be staged in England and Wales in June, is a serious option if the revenue sharing talks break down.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
The fate of former IPL commissioner Lalit Modi, who contested the Rajasthan Cricket Association polls, is likely to be known on January 17 after the Supreme Court said it would open the sealed enveloped containing the results on that day.
To make sure liquid schemes reflect the underlying portfolio risks, Sebi has said all debt papers with maturity of 30 days or more to be marked to market. Earlier, fund houses didn't have to do so for securities that had less than 60-day maturity.
'The critics are getting carried away.' 'The challenge for the RBI is not any erosion of autonomy caused by demonetisation.' 'It's the whole attempt to reduce the RBI's stature and role that has been under way,' says T T Ram Mohan.
Leading brewer Anheuser-Busch InBev will pay USD 6 million (Rs 40.2 crores) to the American authorities for settling charges of making "improper payments" to government officials in India to push sales and production.
The finance ministry has ruled out the proposal for the appointment of a chief operating officer (COO) of the rank of deputy governor in the Reserve Bank of India (RBI), as the government feels no interim arrangements should be made for such high-profile appointments.
Singh brothers might be stopped by 'fit & proper' hurdle due to US drug norm violations; firm says confident of qualifying.
Application deadline may be extended but no leeway on priority-sector targets.
As per the revised contracts, the players in the A+ category will get Rs 7 crore, while ones in the A, B and C will get Rs 5 crore, Rs 3 crore and Rs 1 crore respectively.
While some say he went overboard in the Sheena Bora murder case, others feel Devendra Fadnavis is sending out a signal that the chief minister is in full command.
The BCCI challenged the Rajasthan Sports Act 2005 allowing the former Indian Premier League commissioner to contest the RCA presidential elections on December 19 despite being banned for life by the Board.
J R D Tata and Air India... Mrigank Warrier explores one of India's eternal love stories.
'India is not so distant from years of high and entrenched inflationary expectations that it should start trying to play games with the economy the way the West's central bankers think they are entitled to,' argues Mihir S Sharma.
The BCCI secretary after requisition from 20 affiliated units had issued a circular to conduct a SGM in New Delhi, in order to discuss policy matters with regards to decisions taken by the Vinod Rai-led committee.
State-run Bank of Baroda and Oriental Bank of Commerce are among those facing scrutiny.
B Sriram, the senior-most managing director at SBI, along with fellow MDs Rajnish Kumar, P K Gupta, and Dinesh Kumar Khara had been interviewed for the post
Rajiv Bansal's severance payment was Rs 17.38 crore
Many Indian companies provide outsourcing services to various American entities, including large banks and financial institutions.
We remain at the mercy of the global economic climate.
The framework also envisages amendments to the Prevention of Corruption Act to exempt commercial decisions by PSBs from scrutiny by investigating agencies. Both the amendments are likely in the monsoon session of Parliament.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen ended at 3,355.16 points and the Shanghai Composite Index at 3,116.35.
This is the new addition to the tax data, which had identified over 600,000 people for scrutiny over huge inconsistencies in the cash deposits
In a major crackdown against chucking, a senior official revealed that Pakistan on Thursday suspended 16 domestic bowlers with suspect actions following the ban of ace off-spinner Saeed Ajmal.
The successful implementation of the new Act will depend on a much bigger involvement of the state through a huge new superstructure of registration, certification and supervision
Income tax officials have directed property dealers and registration authorities to prepare a list of top property deals that have taken place in the last three years.
