"We firmly hold that undermining the central bank is a recipe for disaster and government must desist," All India Reserve Bank Association said in a letter. The association said Acharya's comments about the government's interventionist role vis-a-vis the RBI has created a flutter across the nation. "This is, however, not a sudden outburst, but was waiting to happen due to long simmering discontent," the association said.
As many as 362 passengers and six train staff were on board at the time of the incident.
With many getting payment reminders, confusion prevails among borrowers, term-plan investors and credit cardholders over the implementation of the three-month moratorium on all loan repayments amid disruptions caused by the coronavirus outbreak. As part of measures to alleviate hardships faced by people, the Reserve Bank of India, on March 27, announced a slew of steps, including a three-month moratorium on loan repayments.
Other members of the high-level advisory committee are former RBI Deputy Governor Usha Thorat, former Securities and Exchange Board of India Chairman C B Bhave, and Nachiket M Mor, Director of the Central Board of Directors of RBI, Governor Raghuram Rajan said.
The committee had eminent people on it and making any allegations like this is 'outlandish', Sitharaman said.
'It is not something that is going to unfold in the next few weeks or even the next few months.' 'This process will continue for some time. And that's how it should be.' 'If the politicians are coming on board, then that is a welcome step.'
The agitated workers waved black flags and chanted slogans against him.
The South Carolina governor has become the first woman and minority to join Trump's administration.
The group, headed by former RBI deputy governor H R Khan, has also pitched for liberalised investment cap, review of prohibited sectors for foreign investment for FPIs, permitting FPIs for off-market transactions and review of restriction on sovereign wealth funds for investment in corporate debt securities.
Issues like the need to have better coordination between the Lt Governor and the AAP government figured in the meeting.
Given Indian corporates's high indebtedness, new credit will be used for servicing loans rather than building factories. This is setting us up for more companies on life support and more zombie banks, warns Rahul Jacob.
Rediff.com highlights the provisions of the controversial Andhra Pradesh Reorganisation Bill, which was introduced by Home Minister Sushilkumar Shinde in Lok Sabha on Thursday amidst pandemonium.
The first batch of over 12,000 yatris (pilgrims) left for the cave shrine located at 14,500 feet above the sea level from the two base camps.
Among sectoral indices, telecom led the chart, spurting 3.08 per cent, followed by oil and gas.
The national capital has so far recorded six cases of coronavirus.
The finance ministry has ruled out the proposal for the appointment of a chief operating officer (COO) of the rank of deputy governor in the Reserve Bank of India (RBI), as the government feels no interim arrangements should be made for such high-profile appointments.
Fadnavis had gone to Latur in Marathwada region when the mishap occurred.
The resignation is sure to create more political firestorms for the government as it comes on the eve of the winter session of Parliament where the Opposition has already made it clear to the treasury benches that infringing on the RBI autonomy would be a big talking point for them.
In his book, former governor Subbarao says Chidambaram, Pranab were piqued by his tight rate policy.
The meeting came amid a face-off between the central bank and the finance ministry over issues ranging from appropriate size of reserves that RBI must maintain to ease of lending norms to step up growth in an election year.
"The message we want these children to go back with, is that if terrorist activities and stone-pelting stops in Kashmir, it too can prosper like Delhi or other big cities, and perhaps even better," Gen Rawat said.
Being part of category-I implies lower compliance burden, simplified know-your-customer norms and documentation requirements, and fewer investment restrictions.
'We are very watchful about inflation and growth. But the main challenge is economic revival and growth.'
The windfall from RBI may be used to trim borrowing, help fund Rs 3.3 lakh crore capex plan, capitalise banks and provide fiscal stimulus to some stressed sectors, experts and economists said.
'The Jalan Committee has now provided very clear guidelines on how the (RBI's) balance sheet should be looked at, what kind of disclosures should be made, what are the principles on which the Contingency Risk Buffer should be maintained, what should be the revaluation reserves, and the market risk to the Contingency Risk Buffer.'
True, Azam Khan is being targeted rather disproportionately and also because of his Muslim identity. That must be protested and resisted. But to say that he is a big messiah, and his profit-making educational enterprise is an issue concerning all Muslims of India, is absolutely unjustified, assert Mohammad Sajjad and Md Mohammad Zeeshan Ahmad.
This gains importance in the backdrop of speculation on a second term for Raghuram Rajan.
The NDA government is seeking removal of all political appointments.
Tokyo 2020 Olympics chief Yoshiro Mori attended a meeting on March 10 that included the deputy head of the Japanese Olympic Committee (JOC) who tested positive for the new coronavirus this week, officials said. Mori, 82, has not been tested because he has no symptoms of the virus and does not meet testing requirements, an official from Mori's office said. Chief Cabinet Secretary Yoshihide Suga told reporters Prime Minister Shinzo Abe met Mori on March 16, without providing details.
Murthy, who currently is the top Indian-American advisor to President-elect Joe Biden on COVID-19, is a potential pick for the post of Secretary of Health and Human Services and Stanford University Professor Arun Majumdar for the post of Secretary of Energy, The Washington Post and Politico said in their reports on Tuesday that mentions a list of potential picks for various Cabinet-level positions in the Biden administration.
RBI wants periodic revision of the pensions for its retired employees.
From the appointed date, the authorised capital of the private sector bank would stand altered to Rs 5,000 crore and the number of equity shares at 2,400 crore having face value of Rs 2 each.
In its 90-year history, the Academy has expelled only one other member, and only because 83-year-old Carmine Caridi, an actor, violated specific written rules about sharing screener copies of films in 2004.
Jaitley calls it unfair and false attack on a disciplined civil servant
Takao replaced Haruhiko Kuroda, who had, in March, quit ADB to take charge as Japan's central bank governor.
Expressing his satisfaction over the government's move to slash fiscal deficit target, Das said it will help improve investment by the private sector as crowding out impact will be less.
These recommendations are based on interactions held by the Banks Board Bureau with eligible candidates from PSBs towards appointment against vacancies in PSBs for the period 2018-19
'India is not so distant from years of high and entrenched inflationary expectations that it should start trying to play games with the economy the way the West's central bankers think they are entitled to,' argues Mihir S Sharma.
YES Bank said that it has not paid any bonus to Kapoor for FY17 and FY18. He drew a salary of Rs 6.48 crore for the ten months he served as MD & CEO, before his tenure ended in January.
Modi said India has taken an important step forward in protecting its youth population against the disease.
