Taking advantage of the RBI's different accounting year, the Centre had started demanding an interim dividend till the time the latter's final balance sheet is prepared (usually in August). To address this anomaly, an expert committee led by former RBI governor Bimal Jalan had recommended aligning the RBI's financial year with that of the government.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
Liquidity in the banking system has slipped into a deficit for the first time in three weeks, prompting banks to borrow the largest quantum of funds from the Reserve Bank of India (RBI) in around a month and a half. The key catalyst for the sudden tightening in liquidity was due to outflows on account of advance tax payments, which occur towards the end of a quarter. Analysts also cited other factors such as a currency leakage and possible interventions by the RBI in the foreign exchange market, which contributed to the tighter liquidity conditions.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Sunday said he has tested positive for coronavirus and will work from isolation while the central bank will continue to function normally. Das said he is asymptomatic and has alerted those who came in contact with him in recent days.
Singh's last rites will be conducted at the Mahatma Gandhi Government School ground in his Ghardana Khurd village and thousands are expected to gather to bid him farewell.
Bhalla will succeed former RBI deputy governor Subir Gokarn, who died in the US on July 30 after a brief illness.
Ghulam Nabi Azad, in his first public meeting in Jammu after quitting Congress, announced to launch his own political outfit that will focus on the restoration of full statehood.
If appointed interim head, Vishwanathan would head the central board meeting scheduled this Friday
Saudi Aramco chairman and head of the Kingdom's cash-rich wealth fund PIF Yasir Othman Al-Rumayyan will join the board of Reliance Industries Ltd as an independent director in a precursor to a $15 billion deal. Reliance chairman and Asia's richest man Mukesh Ambani, who had two years back disclosed the talks to sell a 20 per cent stake in the company's oil-to-chemical unit to Saudi Aramco, announced the appointment of Al-Rumayyan at the company's annual meeting of shareholders. Harvard educated Al-Rumayyan, 51, will replace Yogendra P Trivedi, 92, who has expressed a desire to retire, Ambani said. On the sale of a 20 per cent stake in the O2C business, he said the deal is likely to conclude this year.
'They are not tom-tomming what a great thing the Supreme Court decision is.' 'If they say it was a great thing, the public will react because people suffered and are still suffering.'
Trinamool Congress MP Derek O'Brien said the situation in Bihar is one of the reasons behind the Parliament session being cut short by the government.
The government on Monday appointed three eminent economists Ashima Goyal, Jayanth R Varma and Shankanka Bhide as members of the rate-setting Monetary Policy Committee of the RBI
There is as yet no clarity on how the process of consulting with the RBI Governor, initiated under Section 7 of the RBI Act, would unfold in the coming days. The government is keen that its suggestions made in the public interest should be heeded by the central bank, says A K Bhattacharya.
The Trinamool Congress on Monday wrote to Kolkata Police Commissioner Soumen Mitra seeking 'necessary action' under the law against the Central Bureau of Investigaton officials who arrested three senior party leaders 'illegally'.
He is survived by two sons, Rajiv Bajaj and Sanjiv Bajaj, and a daughter Sunaina Kejriwal.
In its first decision, the Punjab cabinet led by Chief Minister Bhagwant Mann on Saturday approved filling up 25,000 vacant posts in various state departments, including 10,000 in the police force.
Learning perhaps from the Kargil debacle, Musharraf tried hard to evolve as a statesman in his dealings with India, recalls Rana Banerji, who headed the Pakistan desk at RA&W.
Eighteen teams are working in the investigation of the case and all angles are being probed, it said.
The additional cash will now give the Centre more headroom for stimulating the economy.
Prime Minister Narendra Modi is on a two-day visit to Varanasi to inaugurate the Kashi Vishwanath Corridor project.
If indeed the issues involved between the government and RBI are of immense public interest, why not make public the arguments of both the government and the RBI, irrespective of the outcome of the process, says Tamal Bandyopadhyay.However, the Act is silent on what happens if the governor's views differ from that of the government. If Patel does not want to budge from his stance the government can either see merit in the Governor's arguments and decide against going ahead with its plan or overrule him. My guess is that the issues raised by the government need to be sorted out not at the November 19 board meeting but between the Governor and the government, says Tamal Bandyopadhyay.
"I think, this is something that all Indians should be concerned about because strength of our institutions is really important for our growth, sustainable growth and equity in the economy," said Rajan.
The ruling party appears set to form the government in Uttarakhand again, the first time in the state's 21-year history that a party will come to power for a second term in a row.
Highly-placed sources in the government say that none of the senior ministers had any inkling of Patel's resignation
These self-appointed well-wishers of AMU are basically for the control or police model of university governance. They have no faith whatsoever in the democratic functioning of the universities, observes Faizan Mustafa, former dean, Faculty of Law, and Registrar, Aligarh Muslim University.
More than 8,000 pilgrims on Monday paid obeisance at the holy cave shrine.
Sachin Tendulkar paid tribute to Shane Warne after the Australian leg-spinner passed away at the age of 52
Dhami is often regarded as a protg of Maharashtra Governor and former Uttarakhand chief minister Bhagat Singh Koshyari, whom he served as an Officer on Special Duty and an adviser.
'The fact that she kept her faith in the power of doing good all through the thick and thin in her life, that she worked sincerely for the upliftment of the tribals, the downtrodden and the backwards, is one of the most inspirational aspects of her life.'
If the new governor can think out of the box even as he signals that he can bat for the RBI cadre and respect its institutional memory, that will go a long way in getting out of the current impasse.
The Amarnath pilgrimage resumed on Monday after remaining suspended for three days following flash floods that claimed 15 lives, while the Jammu and Kashmir administration said it would get a clear picture by Tuesday about the damage.
The reversal of Trump's policy with regard to Iran, like the withdrawal from the Paris Agreement, may not be a matter of just turning the clock back, but one of patient negotiations, with uncertain consequences in the post-COVID-19 world, observes Ambassador T P Sreenivasan.
'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.
The auction is being conducted through web portal pmmementos.gov.in and it has one section that lists items under the head 'Most Participated Auction'.
RBI Governor Shaktikanta Das on Thursday said financial inclusion will continue to be a "policy priority" for the central bank to make the post-pandemic recovery more equitable and sustainable. The Reserve Bank of India will very soon be coming out with the first financial inclusion index, which will assess progress in terms of access, usage and quality, Das said, while speaking at the Economic Times Financial Inclusion Summit. It is the responsibility of all stakeholders to ensure that the financial ecosystem (including the digital medium) is inclusive and capable of effectively addressing risks like mis-selling, cybersecurity, data privacy and promoting trust in the financial system through appropriate financial education and awareness, he added.
Is it a divine, sacrosanct university, a holy cow, prohibiting human intervention?
The 557th meeting of the Central Board was chaired by RBI Governor Raghuram Rajan, and attended by the four deputy governors among others
Fifteen ministers took the oath in Rajasthan on Sunday in a cabinet expansion that included 12 new faces, fulfilling a key demand of former deputy chief minister Sachin Pilot whose rebellion last year shook the state's Congress government.
A high-powered probe committee set up by Lieutenant Governor Manoj Sinha visited the site and appealed to the general public to share videos, statements or any other evidence about the incident.
The Shri Mata Vaishno Devi Shrine Board, however, denied the charge, saying all necessary arrangements were made in view of the expected rush, while Jammu and Kashmir Director General of Police (DGP) Dilbag Singh blamed a minor altercation for the 'unfortunate' incident.
