President's Rule can be revoked before the six-month period if a situation emerges for formation of a stable government.
'It is likely the government may opt for an IAS officer.' 'For the government, an IAS officer will be more easy to deal with,' notes A K Bhattacharya.
13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
The flight was taking off from Moscow's Domodedovo airport when the incident took place.
Political leaders across parties reacted to the Air India Express aircraft crash, which took place on Friday evening at Kozhikode airport.
It was the RBI which destroyed our $-job economy. It is for the RBI to resurrect it by instituting news ways of managing the INR, says Sonali Ranade
Bad loans of PSBs are at Rs 20 trillion. Most of it is, I sense, due to corruption and behest lending. Nobody pays a price for this charade. Not the promoters, the bankers, RBI officials, finance ministry bureaucrats or politicians, points out Debashis Basu.
'If Urjit Patel had resigned after the five-state elections results people would have taken a different view. So this was the right time for him to resign.' 'He rightly resigned as he felt the differences with the government were not getting settled.'
The Pakistan Cricket Board on Thursday said Mohsin Khan had requested board chairman Ehsan Mani to release him from the post and now the committee will be headed by Wasim Khan, who is Managing Director of the board.
Reserve Bank of India Deputy Governor Viral Acharya is the eighth economist to quit since the Modi government took office.
There is so much liquidity in the system, in the global economy, and that's why the stock market is very buoyant. It will certainly witness correction in the future: RBI's Das.
"Patel's resignation will shake foreign and domestic trust in the RBI's autonomy and shows that a red line has been crossed."
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
If the policy is extended to NBFCs and co-operative banks, they will have to disclose divergence in asset classification and provisioning during RBI inspections in their audited financial reports. Till now, these entities have been exempted from this. At present, there are more than 98,000 co-operative banks and 10,000 NBFCs. Sources said the RBI would concentrate on the top 50 co-operative banks and NBFCs.
Under the provision of Section 92 of the Jammu and Kashmir Constitution, governor's rule is imposed for six months.
Economic Affairs Secretary Subhash Garg is the finance ministry's primary liaison with the RBI.
The main difference of opinion between RBI and FinMin is over the transfer of the RBI's 'excess' capital reserves. The Jalan panel seeks to convince finance secretary Subhash Garg to soften his dissent note language. The move is aimed at maintaining the now-cordial relations between the RBI and the finance ministry.
"We have to collectively address all doubts. The vision of flexibility with which this policy was brought... We will have to show in a similar way maximum flexibility in implementing it," Modi said while addressing the 'Governors' Conference on the Role of NEP in Transforming Higher Education'.
Born in the Saurashtra region of Gujarat, Chudasama, also a former Mumbai mayor, engaged himself in social work after serving in a private company.
From defending the shock announcement of demonetisation to spearheading the remonetisation drive that included the cumbersome process of printing and supplying new Rs 500 and Rs 2,000 notes, his calm composure brought a sense of serenity to an otherwise chaotic situation.
He said it will be 'foolhardy' to diminish institutions for short-term political gains.
It also recommended that the RBI accounting year (July-June) may be brought in sync with the fiscal year (April to March) from the financial year 2020-21 as it could reduce the need for interim dividend being paid by the central bank.
Today, the two countries, ruthlessly divided by the Radcliffe line that pierced their very heart, grapple with the political challenges of the present. Yet, when friendships develop there are no borders, observes Payal Singh Mohanka.
The agreement is subject to approval by the IMF management and consideration by its executive board, which is expected in early April.
A paper authored by Rajan said, state-linked banks can be a first step in altering the ownership structure of some PSBs, where the government brings down its stakes to below 50 per cent, creating distance from operations of banks, and improving governance along the way.
The legislators will be staying at a luxury resort there and likely to visit the Somnath temple, sources said.
'The CoA feels that if David has declared and is not taking remuneration from India Cements, he is not in conflict'
When did Urjit Patel really resign? When did Shaktikanta Das get the mandate to take over as RBI governor?
It is the NSCN-IM which is having the last laugh as speculation grows that Nagaland Governor R N Ravi may have been replaced as Naga interlocutor.
The interim dividend will help Narendra Modi-led government partly bridge the deficit its budget had developed after the announcement of a Rs 75,000 crore a year cash dole scheme for small farmers.
'There is no question of joining hands with the BJP.'
Half of the Japanese public think the 2020 Olympics will take place this summer, a survey by the Yomiuri daily newspaper showed on Monday, despite most people opposing holding the Games during the COVID-19 pandemic.
Here's all you need to know about the man who could be India's next president.
The BJP announced names of 107 candidates for the Uttar Pradesh assembly polls.
The regulator said that it is vested within its purview to regulate the bank account for payment systems and the settlement systems are finally posted in the books of account of banks with the RBI to attain settlement finality.
With the setting of MPC, the interest rate setting powers would move from RBI Governor to the panel.
Will MBA hybrid model be the focus for B-schools? Should B-schools focus on long distance programmes?
Two incidents of hurling of crude bombs were reported in Sealdah and Khanna areas of Kolkata, and police contingents were rushed to the spot to bring the situation under control, a State Election Commission official said.
A PhD from Chicago-Booth and a top-ranking IIT-IIM alumnus, Krishnamurthy Subramanian is one of the world's leading experts in banking, corporate governance and economic policy
RBI's oversight cadre move creates HR trouble, officers threaten agitation.
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