Govt reconstitutes body, says will not interfere in senior PSB appointments
The Andhra Pradesh government has decided to set up regional development boards for three regions -- Telangana, Rayalaseema and coastal Andhra.
The decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
'Judging by the conduct of two governors of Kerala and one governor from Kerala, Congressmen treated Raj Bhavan as a transition point before taking a flight back into active politics.'
Yoga was the mantra and asanas the discipline on Wednesday as millions across the globe and distant corners of India stretched for the skies and dived for their toes, breathed in and out -- mindfully -- and twisted and turned to celebrate the International Day of Yoga.
The row erupted after Purohit wrote a letter to Mann asking for details on the selection of government school principals sent to Singapore for a training seminar, saying he has received complaints of "malpractices and illegalities".
India has cancelled its briefing on the safeguards agreement for the members of the International Atomic Energy Agency, which was scheduled to be held in Vienna on July 18.The IAEA safeguards agreement is an essential step India has to take to integrate with international nuclear commerce before it secures a one-time waiver from the 45-nation Nuclear Suppliers Group.
Nandan Nilekani, co-founder and chairman of Infosys and the founding chairman of UIDAI, has donated Rs 315 crore to the Indian Institute of Technology (IIT) Bombay.
On Thursday, the apex court ruled that the Delhi government has legislative and executive powers over the administration of services, except for public order, police and land.
Bharatiya Janata Party president J P Nadda has appointed Union minister Mansukh Mandaviya and party general secretary Vinod Tawde as central observers for the election of the leader of opposition in the Karnataka assembly.
Reserve Bank of India (RBI) on Friday said its board has approved a dividend payment of Rs 30,307 crore to the government for the financial ended March 2022. The board approved the transfer of Rs 30,307 crore as surplus to the central government for the accounting year 2021-22 while deciding to maintain the Contingency Risk Buffer at 5.50 per cent, RBI said in a statement. The decision on the dividend payment was made in the 596th meeting of the Central Board of Directors of RBI, headed by Governor Shaktikanta Das, held on Friday.
Is Chandrababu Naidu being in jail an opportunity? How will the TDP capitalise on it? Or will it implode with nothing more than a sigh?
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
Fintech companies believe that the impact of Reserve Bank of India's order last week on unsecured loans will be visible in six to 12 months and prompt them to diversify and strengthen their secured portfolio. Fintechs which source funds through banks or non-banking finance companies (NBFCs) are looking at quickly building their secured portfolio options to at least 40 per cent of their total portfolio. "Over the medium to long term, as part of our product strategy, we are evaluating secured products which can be enabled over a digital platform" said Yogi Sadana, the founder of Zype, a lending-focussed fintech.
West Bengal Chief Minister Mamata Banerjee was injured when the helicopter in which she was flying made an emergency landing at the Sevoke air base near Siliguri in the northern part of the state due to bad weather on Tuesday afternoon, officials said.
The reason behind issuing new bank licences is to allow more private sector entities to set up banks
People who were present at the convention centre told media that the first blast occurred in the middle of a prayer.
Dr Sethuraman 'Panch' Panchanathan, senior vice president, Office of Knowledge Enterprise Development, ArizonaStateUniversity, was last week appointed to the United States National Science Board by President Barack Obama.
Balance is needed in selecting members for the proposed monetary policy committee, says Abheek Barua.
Former RBI governor Raghuram Rajan has asked why SEBI has not yet got to the bottom of ownership of the four Mauritius-based funds who are said to have parked 90 per cent of their $6.9 billion in Adani group stocks, saying does the market regulator need help of investigating agencies for this? The funds -- Elara India Opportunities Fund, Cresta Fund, Albula Investment Fund and APMS Investment Fund -- have been under cloud for last couple of years after allegations that they may be shell companies. They came into focus once again in January when a US short seller alleged that Adani Group used offshore shell companies to inflate stock price.
'We want to express our deep gratitude to Mr Rock for maintaining his composure under extraordinary circumstances,' the Academy stated.
Any currency design change must be approved by the RBI central board and the central government.
Congress legislature party leader said the MVA is on a stronger wicket legally.
Growing up in the Mumbai of 1970s, Uday Kotak aspired to be a cricketer and trained under legendary coach Ramakant Aachrekar. However, it was an on-field injury which resulted in a shift to finance. He started off with bill discounting, turned to lending and successfully applied to start a universal bank in the first decade of the millennium, as India was warming up to private play in banking.
'Barring Tamil Nadu and Kerala, the BJP will may make inroads in Karnataka, Andhra and Telangana in 2024.'
'The no-rate cut policy and preference to wait for the Budget and clarity on the fiscal front demonstrate RBI Governor Shaktikanta Das is maturing in his new role,' notes Tamal Bandyopadhyay.
The Anti-Corruption Branch on Friday arrested Aam Aadmi Party MLA Amanatullah Khan after conducting raids at premises linked to him in connection with alleged irregularities in the Delhi Waqf Board recruitment, officials said.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
Jammu and Kashmir Lieutenant Governor Manoj Sinha on Thursday said the rescue operations launched following a flash flood near the Amarnath cave shrine -- that left 15 people dead -- has been called off and there was no report of any person missing.
Sources said Saurabh Bharadwaj and Atishi will be sworn in on Thursday.
'There is a need for an innovation sandbox where the PSBs can collaborate and then they can do their own innovation on top of it.'
At least 36 people were killed and 19 injured when a bus carrying passengers skidded off the road and rolled down into a 300-foot gorge in Jammu and Kashmir's Doda district on Wednesday, officials said.
Billionaire Mukesh Ambani on Tuesday showered lavish praises on Tata Group chairman N Chandrasekaran, saying he has scripted the salt-to-software conglomerate's spectacular growth in recent years. Sharing the dais with Chandrasekaran at the 10th convocation of Pandit Deendayal Energy University in Gandhinagar, Ambani said Tata Group's gigantic steps in the field of renewable energy under his leadership are inspirational.
President Droupadi Murmu on Saturday took her maiden sortie in a fighter aircraft at Tezpur air base in Assam.
West Bengal Chief Minister Mamata Banerjee will visit Chennai on November 2 and is likely to hold a meeting with her Tamil Nadu counterpart M K Stalin to discuss their strategies for the 2024 Lok Sabha poll, a senior government official said on Tuesday.
However, the bill will have all major provisions of the ordinance, promulgated by the central government on May 19, a week after the Supreme Court handed over the control of services in Delhi excluding police, public order and land to the elected government headed by Chief Minister Arvind Kejriwal.
It is only after the government's nod that a particular design change come into effect.
The Reserve Bank on Wednesday increased the benchmark lending rate by 40 basis points (bps) to 4.40 per cent in a bid to contain inflation, which has remained stubbornly above the target zone of 6 per cent for the last three months. The decision follows an unscheduled meeting of the Monetary Policy Committee (MPC), with all six members unanimously voting for a rate hike while maintaining the accommodative stance. While the inflation has remained above the targetted 6 per cent since January, RBI Governor Shaktikanta Das said the inflation print in April is also likely to be high.
