Economic Affairs Secretary Subhash Garg is the finance ministry's primary liaison with the RBI.
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.
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.
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.
'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.'
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.
Here's all you need to know about the man who could be India's next president.
With the setting of MPC, the interest rate setting powers would move from RBI Governor to the panel.
The Reserve Bank on Friday set up a three-member committee under former Governor Bimal Jalan to scrutinise applications for new bank licences, which are expected to be awarded by January.
The agreement is subject to approval by the IMF management and consideration by its executive board, which is expected in early April.
When did Urjit Patel really resign? When did Shaktikanta Das get the mandate to take over as RBI governor?
"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 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.
A top official of the Pakistan Cricket Board said he would advise the PCB against sending its national team to India for the planned bilateral series in December.
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.
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.
'The CoA feels that if David has declared and is not taking remuneration from India Cements, he is not in conflict'
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
'There is no question of joining hands with the BJP.'
Cyber thieves have been using RBI logos to send out mails to cheat customers
Kris Kolluri, a former New Jersey senior government official, was recently appointed the new chief executive officer of the Rowan University/Rutgers-Camden board of governors.
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.
With Deputy Governor Viral Acharya and another member Chetan Ghate voting for a status quo, RBI governor Shaktikanta Das and three others outvoted them for reduction in repo rate to 6.25 per cent from the existing 6.50 per cent.
'The PCA framework was revised and tightened in April 2017, but there was no discussion in any board meeting. The government does not know the rationale behind revising the framework and how the RBI arrived at it. Similarly, there was no discussion in the board meeting on the revised NPA framework,' said an official.
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.
RBI's oversight cadre move creates HR trouble, officers threaten agitation.
This is not her first stint in North Block or in leading a major economic ministry. She started Prime Minister Narendra Modi's first term as minister of state for finance, was made the commerce minister, and then became the defence minister.
The Supreme Court on Monday agreed to hear a petition seeking removal of Madhya Pradesh Governor Ram Naresh Yadav on the ground of his alleged involvement in the scam in the massive admission and recruitment scam in the Madhya Pradesh Professional Examination Board.
R Gopal, the editor of Tamil magazine 'Nakkheeran', who had written articles on a sex scandal involving a woman college teacher, was picked up by police from the airport before he could board a flight to Pune, officials said.
This is reportedly the first time that the names recommended by a search committee have been shot down by the HRD ministry
Yellen is currently Vice Chairman of the Board of Governors of the Federal Reserve System.
Former Australia player Stuart Law has been confirmed as the Pakistan Cricket Board's first choice for the post of national team chief coach.
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
The former bureaucrat said he will take measures which the economy requires in a timely manner and as the first step, will meet the heads of public sector banks.
The Japanese and Tokyo metropolitan governments, local organisers and the International Olympic Committee (IOC) have all sought to quash persistent speculation that the Games could be cancelled or postponed.
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.
Several Congress leaders interpreted it as a dig at Prime Minister Modi who is yet to address a single press conference in his 54-month tenure.
