A day after OBC leader Swami Prasad Maurya resigned from the Uttar Pradesh cabinet citing apathy towards the backward classes, Dara Singh Chauhan too resigned as minister in the Yogi Adityanath government.
This demand comes at a time when the government is falling short of its revenue targets due to dwindling tax and low disinvestment receipts. It could account for the dividend in the upcoming Union Budget on February 1. RBI is, however, yet to take a final call on the government's demand and might decide on this at its central board meeting scheduled for February 15 in New Delhi.
The 61-year old leader will take oath as the Chief Minister of Karnataka from Governor Thaawarchand Gehlot at the Raj Bhavan on Wednesday at 11 am.
The meeting will review the current global and domestic economic situation and financial stability issues, including those concerning banking and NBFCs.
Jammu and Kashmir Director General of Police Dilbag Singh told PTI that preliminary information from the scene suggests there was a minor altercation among some young boys, and within seconds, there was a stampede situation.
The SIT was created by Supreme Court and notified by the government last year to curb black money.
Only Rs 10,720 crore of the junked currency notes did not return to the banking system, rest 99.9 per cent was deposited raising question mark over the government's effort of curbing black money through the demonetisation.
The government wants the RBI to part with most of its profit as dividend.
A staunch defender of demonetisation, it would be interesting to see how he handles the government's increasing demand for more cash from the RBI, and letting some weak banks get out of prompt corrective action.
Garg had refused to sign on the report finalised by the former Reserve Bank of India governor Bimal Jalan-led committee reviewing the central bank's economic capital framework (ECF).
The Bill -- the Securities and Insurance Laws (Amendment) and Validation, Bill 2010 -- addresses concerns by RBI over its autonomy, by including its Governor as vice-chairman of the joint commission instead of making him just a member.
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
Yediyurappa termed these two years as 'trial by fire', pointing out that he had to run the administration without a cabinet in the initial days, followed by devastating floods and the challenge of COVID-19 management, among other issues.
It is time for the three finance ministers of the 1990s to reveal the real hero, says T C A Srinavasa-Raghavan.
The career bureaucrat-turned-central banker walked into the 19th floor corner room of the Reserve Bank on December 12, 2018. Since February 2019, the Das-led RBI has cut the repo rate by a whopping 135 basis points to support the sagging growth, including an unprecedented 35 bps reduction in August. As he completes one year at the helm, woes in the NBFC sector, overall health of the banking sector and steeply falling economic growth are among the major challenges that needs to be tackled sooner than later.
'Although Hong Kong weathered many a storm and displayed a remarkable resilience to bounce back, the developments in the territory have raised question marks with regard to its future stability and prosperity.' A revealing excerpt from Rup Narayan Das's Hong Kong Conundrum: Pangs of Transition.
'Based upon the circumstances, the Board decided with heavy heart that it is not advisable to hold and conduct this year's Shri Amarnathji Yatra and expressed its regret to announce the cancellation of Yatra 2020,' the SASB said in a statement.
The RBI governor has to convert the zero-sum game with the government from a non-cooperative one -- which his two predecessors had made it -- to a cooperative one, explains T C A Srinivasa Raghavan.
'We can go somewhere between 35 per cent and 40 per cent.'
From his economist mother to politicians and academia -- all hailed Banerjee's achievement.
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.
After selling dollars for the past few months, the Reserve Bank of India (RBI) may take a hands-off approach before its annual account closing by not trying to prop up the rupee as geopolitical tensions show signs of stabilising with global crude oil prices easing from its $140 peak. The central bank was a net buyer of dollars between April and September, and then turned a net seller in the following months, the data released by the RBI showed. The RBI continued to be a net buyer of $36.6 billion in this fiscal year - between April and January. In 2020-21, it purchased $68 billion on a net basis.
President Ram Nath Kovind on Sunday said he had never imagined that an ordinary village boy like him would have the honour of occupying the highest post in the country, and thanked the people of his birth place for this.
The four were kept at the CBI office in Nizam Palace following their arrest in the morning from their homes in different parts of Kolkata.
Free speech is the soul of a great university. By compromising on it, the founders have bartered away its soul, said Rajan.
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.
In the first week, there shall be a cap of 2,000 pilgrims each day, of which 1,900 would be from Jammu and Kashmir and the remaining 100 from outside.
A magnificent display of India's cultural diversity through colourful parades across the length and breadth of the country marked the 71st Republic Day celebrations on Sunday which passed off peacefully, barring in Upper Assam, which was rocked by four explosions within a span of 10 minutes.
The 21st meeting of FSDC comes against the backdrop of the economy hitting a six-year low growth rate of 5 per cent in the first quarter of 2019-20. Even some of the macroeconomic data for the second quarter does not portray an encouraging picture of the economy.
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.
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.
Speculations were rife that the former batting great will join the BJP ahead of the state assembly elections.
Patra, as executive director of the central bank, was the principal advisor to the Monetary Policy Department since July 2012.
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.
The prime minister may go for new faces with an eye on grooming younger leaders while also factoring in caste and regional balances
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.
'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.'
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.
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.
Tokyo Governor Yuriko Koike said on Thursday that organisers were looking at ways to simplify the Games.
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