The Central Bureau of Investigation (CBI) on Friday raided the home of Delhi Deputy Chief Minister Manish Sisodia and 30 other locations in connection with alleged corruption in the implementation of the Delhi Excise Policy.
The Financial Stability and Development Council meeting on Tuesday started with an air of tension in the room. An official present described the participants' body language as "tetchy". However, once presentations and discussions begun, the mood considerably eased.
Finance Minister Nirmala Sitharaman on Friday assured cash-starved Yes Bank depositors that their money is safe and the RBI is working on an early resolution of the issue. "I'm in continuous interaction with the Reserve Bank of India (RBI). The central bank is fully seized of the matter and has assured they will give a quick resolution. I want to assure every depositor that their money shall be safe. Their monies are safe," Sitharaman told reporters in New Delhi.
Patra, as executive director of the central bank, was the principal advisor to the Monetary Policy Department since July 2012.
The Enforcement Directorate questioned former Jammu and Kashmir chief minister Omar Abdullah for five hours on Thursday in connection with a case related to the purchase of a building by the J&K Bank about 12 years ago when he was in office, officials said in New Delhi.
Speculations were rife that the former batting great will join the BJP ahead of the state assembly elections.
The BJP member also sought to put the LVB-DBS merger on hold in order to facilitate a forensic audit of the takeover of the assets of both banks.
Is the RBI unable to accept with grace that beyond 55, one can have the ability to head the compliance functions in a bank, asks Tamal Bandyopadhyay.
The prime minister may go for new faces with an eye on grooming younger leaders while also factoring in caste and regional balances
Tokyo Governor Yuriko Koike said on Thursday that organisers were looking at ways to simplify the Games.
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
The BJP MLC, who had switched his loyalty from the Janat Dal-Secular to the BJP two years ago, alleged that the "entire state" including ministers, had been talking about Vijayendra's interference in the administration.
The Haryana assembly on Tuesday passed a resolution seeking the completion of the SYL canal and the transfer of Hindi-speaking areas from Punjab, while denouncing the neighbouring state for staking its claim over Chandigarh.
'The RBI is something like a seat belt. As a driver, the driver being the government, it has the possibility of not putting on a seat belt but of course if you do not put on your seat belt you get into an accident and the accident can be quite severe,' Raghuram Rajan told CNBC TV18. 'The aim of the board is to be Rahul Dravid -- sensible, thoughtful and not, with due respect, Navjot Sidhu,' he added.
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.
'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.
The flight was taking off from Moscow's Domodedovo airport when the incident took place.
President's Rule can be revoked before the six-month period if a situation emerges for formation of a stable government.
Two women are in contention to become prime minister for the first time in Japan's history -- a potential turning point for a country that ranks below Saudi Arabia in terms of female political representation, points out Rajaram Panda.
'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.'
'You have to be a total anti-national bozo to shut down the Nokia plant in Sriperumbudur, which was the first large manufacturing plant for mobile phones in India.' 'Why was the unit shut down? Because of somebody's ego.'
Political leaders across parties reacted to the Air India Express aircraft crash, which took place on Friday evening at Kozhikode airport.
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.
A top Japanese virologist and government adviser has warned of the risks of spreading COVID-19 infections during the Tokyo Olympics.
"Patel's resignation will shake foreign and domestic trust in the RBI's autonomy and shows that a red line has been crossed."
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.
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.
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.
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.
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.
Born in the Saurashtra region of Gujarat, Chudasama, also a former Mumbai mayor, engaged himself in social work after serving in a private company.
He said it will be 'foolhardy' to diminish institutions for short-term political gains.
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.
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.
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.
"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'.
The agreement is subject to approval by the IMF management and consideration by its executive board, which is expected in early April.
Here's all you need to know about the man who could be India's next president.
