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.
Jaitley calls it unfair and false attack on a disciplined civil servant
'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.'
Being part of category-I implies lower compliance burden, simplified know-your-customer norms and documentation requirements, and fewer investment restrictions.
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.
'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.'
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.
RBI had received 72 applications for small finance bank licences.
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
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.
The IMF Board of Governors have approved a general allocation of special drawing rights equivalent to $250 billion to provide liquidity to global economic system by supplementing its member countries' foreign exchange reserves.
RBI Governor Subbarao also said an increase in non-performing assets at lenders was a matter of concern, but added that banks were well capitalised, during a media briefing at the conclusion of the central bank's board meeting.
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.
'We are very watchful about inflation and growth. But the main challenge is economic revival and growth.'
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.
Noble laureate Amartya Sen was appointed chancellor of the upcoming Nalanda University by the board of governors in a meeting in Patna on Thursday, officials said.
It was an illustrious gathering in Kanpur on Thursday as the Board of Control for Cricket in India felicitated its former Test captains including Sunil Gavaskar, Ravi Shastri, Mohammad Azharuddin, Sachin Tendulkar, Sourav Ganguly, Anil Kumble and Mahendra Singh Dhoni among others to celebrate India's 500th Test match.
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.
In a bid to enhance preparedness for disaster management among government officials involved in management of the annual Amarnath Yatra starting July 2, National Disaster Management Authority has planed to conduct a three-day mock drill.
Prakash was allegedly assaulted by Aam Aadmi Party MLAs during a meeting at the chief minister's residence in the evening of February 19.
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.
Rajan will be closely working with the RBI governor and the four deputy governors to gain familiarity with the central bank's stance on various issues.
The sources said the ministers and HRD officials however assured the students that their genuine demands like better amenities inside the campus and improving the academic atmosphere will be addressed.
At least three members of the BJP Parliamentary Board, that approved candidates list, told me that release of my book by Nitish Kumar in 2017 was strongly resented and probably this cost me the party nomination, Roy said.
Flagging the issue of lack of enough economists in the country, Reserve Bank India (RBI) Governor Raghuram Rajan has said the inability to get quality talent may be hurting policy making.
The report contains names of entities eligible for bank licences. It was not immediately known how many applicants have been shortlisted by the high-level advisory panel.
He also complimented the United States for making it possible. The civil nuclear initiative was good for India and good for the world, he said in a statement.
The Jalan panel has recommended to the RBI to keep shady entities out of banking licence race.
Billions of rupees spent on river cleaning programmes have gone down the drain. This situation cannot be allowed to continue, says Business Standard.
The Indian Air Force had on Thursday said all 13 people on board the aircraft have died.
Pakistan Cricket Board chairman Zaka Ashraf was suspended by the Islamabad High Court on Tuesday over what it described as the 'polluted' process to elect him to the post.
The Pakistan Cricket Board said that it would file a compensation claim against the Board of Control for Cricket in India with the International Cricket Council's disputes resolution committee in January next year.
'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.
Earlier in the day, International Atomic Energy Agency chief Mohamed ElBaradei had endorsed the India-specific safeguards agreement, asserting that it conformed to "all legal requirements" of his agency and that talks had begun on a system of extended inspections.
To a question related to RBI's policy rate, Rajan said no amount of interest rate cut is going to help if credit growth is weak.
According to Subbarao, the pressure on the currency was inevitable.
RBI conducts interviews for first lateral hire for CGM post; deputy governors to head four distinct verticals.
While a DFI will help banks derisk their loan portfolios, creation of a bad bank will clean up their balance sheets.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
India's forex reserves recently declined by $704 million to $354.517 billion.
