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
Urjit Patel panel wanted all members to be appointed by RBI
World soccer's governing body, FIFA, is expected to pass wide-ranging reforms at a Congress in Zurich next Friday, when a new president will also be elected.
The whistleblower, claiming to be an employee working in the finance department, said he was submitting a 'whistleblower complaint' unanimously as the matter stated was 'volatile' and that he feared retaliation on disclosing the identity.
Standing committee on finance to also focus on RBI autonomy and citizen's rights.
It would be a Cabinet Committee on investments, to be chaired by Prime Minister Manmohan Singh.
Brazil, Russia, India & China (known collectively as BRIC) on Sunday sought a re-balancing of representation on the executive board and the International Monetary and Financial Committee of the International Monetary Fund (IMF). The committee is the policy-making arm of the IMF.
The CoS, headed by Cabinet Secretary K M Chandrasekhar, has also decided to set up a committee overseen by additional secretary, expenditure, Vilasini Ramachandran, and key finance ministry officials who have been asked to work out a financial package.
Some companies are charged with undervaluing their assets.
Banking is a boring business but still the banker should enjoy it as fancy awards and cozy relationships with politicians, Bollywood stars and corporate honchos cannot save them if the job is not done properly. In the concluding part of the series Tamal Bandyopadhyay wonders how long Kochhar would need to wait for her redemption or downfall and atonement.
The bill was taken up for consideration in the Lok Sabha after the Speaker rejected Opposition demands to refer the key reform measure to a parliamentary Standing Committee.
Jaitley, who headed the DDCA between 1999 and 2013, has been under opposition attack even though he has maintained his innocence.
Finance Minister Arun Jaitley said it has been decided to fix the minimum wages at Rs 350 per day for unskilled non-agricultural workers for 'C' category areas keeping in view the modalities of fixing minimum wages.
Large urban co-operative banks may come to be solely under the provisions of the Banking Regulation Act, even as the smaller among them are to remain within the exclusive fold of the Registrar of Co-operative Societies. The upcoming changes will bring the curtains down on the vexed issue of dual control of UCBs, which has been in vogue for 54 years. The new framework will affect 1,551 UCBs in the country, which had a total business of Rs 7.36 trillion.
Budget may bring exemption for those backed by Indian securities other than shares
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
Many bankers say the move will have a serious impact on the chain of command of nationalised banks and that it would only enable the government to dish out favours to a few of their own men.
If convicted, the offences entail a maximum punishment of seven years.
Special Judge O P Saini took strong objection to the agencies seeking repeated adjournments.
The panel suggests the government be authorised to raise the thresholds, which trigger applicability of Corporate Social Responsibility provisions.
The decision would leave a surplus of Rs 15.26 crore.
The probe into selections for banks such as Bank of Baroda and Canara Bank followed the arrest of Syndicate Bank CMD S K Jain for alleged graft.
The government must set up a Bank Investment Company to shrink its role in PSBs, if we are serious about tackling the two persistent issues - lax corporate governance practices and discretionary decision-making, says Shyamal Majumdar.
Negotiations near deadlock, as states oppose Constitution Amendment Bill.
The brand new bankruptcy process is being brazenly gamed by those with connections and money. The touts and fixers of the previous regime have been replaced by a new set close to this one, observes Debashis Basu.
The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years.
A taxpayer, who feels unsatisfied by an order of a tax assessment officer or thinks it is irrational, can petition the committee which will be publicised in the media by the respective tax regions.
The Income Tax Department has not recommended 'amnesty scheme' to deal with the issue of black money, the government said on Wednesday.
Patra, as executive director of the central bank, was the principal advisor to the Monetary Policy Department since July 2012.
On Tuesday, the 32-member Parliamentary Committee is understood to have met officials of the Securities and Exchange Board of India, Reserve Bank of India, stock exchanges, various brokers, Unit Trust of India, Life Insurance Corporation and State Bank of India. The committee is expected to meet officials of the finance ministry next week.
Most listed corporate entities in the country are in a fix. With the sudden declaration in late March of a nationwide lockdown to tackle the Covid-19 pandemic, the final calculations of their financial results for the year 2019-20 (FY20) are hanging in limbo. Till April 19, only 41 of the 3,947 companies listed on the BSE have managed to finalise the dates for the declaration of their yearly financial results.
Gujarat Deputy Chief Minister Nitin Patel on Monday said he was not unhappy with the Bharatiya Janata Party's decision to select Bhupendra Patel as the state's next chief minister, soon after the CM-designate met him at his residence in Ahmedabad in the morning.
The final policy may be out only after formation of the new government, according to sources
GST reform has been hanging fire since 2006-07.
The Central Board of Trustees of Employees Provident Fund Organisation is likely to cut the EPF interest by one per cent from the present 9.5 per cent when it meets on May 31.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
The posts of Chairman and MD in the private sector are held separately.
Based on this screening, the committee may weed out applications that do not meet the eligibility yardstick or the 'fit and proper' criteria for securing a licence.
An executive director of a bank could, for example, be elevated to the post of chairman of a different bank.
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