"I think bankers have expressed some concern that they should not be held liable for actions that are taken in the full spirit of what is needed," Raghuram Rajan said.
The RBI has this year cut interest rates by 110 basis points in four instalments but banks have passed only a part of it to borrowers. Before the last reduction earlier this month of 35 basis points, the bank on an average had passed only 29 basis points out of 75 basis points cut affected during 2019.
A three-judge bench headed by Justice AM Khanwilkar, by 2:1 majority, held that the grant of the environmental clearance and the notification for change in land use for the project was valid.
The IEMs could be those former officers of government and PSUs who have retired from top management positions and also eminent persons and executives from the private sector.
A New York appeals court has upheld the dismissal of a $650 million lawsuit against Formula One boss Bernie Ecclestone, saying he cannot be sued in the state's courts over the sale of a major stake in the motor racing business.
CVC International, part of Citigroup, has evinced interest to pick up about five per cent stake in Jindal Iron and Steel Company Ltd.
Rubbishing the allegation that his ministry went out of its way to facilitate the Jet-Etihad deal, Civil Aviation Minister Ajit Singh said he was open to "any inquiry" into the decision to increase air traffic rights to Abu Dhabi.
The Centre on Wednesday told the Supreme Court that it is bringing significant legal changes to free the Central Bureau of Investigation from extraneous influences and usher in a new system of appointing its director. The director will be given protection on the lines of the provisions in the Central Vigilance Commission's law, under which the incumbent can be sacked only by the President on a reference by the CVC, that he is guilty of misbehaviour or incapacity.
Over 8,800 complaints of alleged graft against railway employees were received by the Central Vigilance Commission last year.
The Civil Aviation Ministry has submitted replies to the CVC on a series of allegations raised by Nishikant Dubey against the deal and clarified all concerns raised by him, official sources said.
The Bharatiya Janata Party on Thursday came out with a book on the coal scam titled 'The Great Coal Robbery'.
The Games begin in Jakarta and Palembang in less than 10 days but the Indian contingent is yet to be known officially.
Armed with some documents pointing to large-scale irregularities, the Central Bureau of Investigation will soon register cases to probe the alleged involvement of some Rajya Sabha MPs and central government employees in forging leave travel concession claims for travel on state-run Air India.
Sitharaman also directed public sector bank heads to clear long pending vigilance cases against their officials for alleged malpractices.
A bench headed by Chief Justice Ranjan Gogoi considered the submission of lawyer Prashant Bhushan, appearing for NGO Common Cause that there were wider issues of corruption affecting the probe agency and the PIL needed to be heard urgently.
The apex court said that he won't be allowed to take any major policy decision till the high-powered committee considers the issue of "divestment of power and authority".
D K Sarraf replaces Vasudeva, who turned 60 on Tuesday and is due to superannuate on Friday.
News of all that's transpired on and off the football field.
Formula One chief Bernie Ecclestone has recommended Singapore as the best place to float the motor racing business, seeking to tap Asian enthusiasm for international sporting brands.
Noted lawyer Ram Jethmalani on Monday announced his "break-up" with Prime Minister Narendra Modi and said his "diminishing respect" for Modi has "ended".
Cancellation of 2G licenses by the Supreme Court clearly revealed a big scam and it was a "collective failure" of the government which "overlooked" warnings given by the Comptroller and Auditor General and the Central Vigilance Commissioner on the issue, Janata Party chief Subramanian Swamy said on Thursday. "Everyone had warned, including the CAG and the CVC, but the government overlooked it," Swamy said soon after the Supreme Court cancelled the 122 spectrum licenses.
Team Anna member Kiran Bedi on Thursday contended that the Parliamentary Standing Committee recommendations on Lokpal Bill will only help in making the ombdusman an "Enquiry Pal" with no powers at all. Bedi said Anna Hazare and his supporters did not fight for such an anti-corruption watchdog.
'I would have expected that, once firmly ensconced in the director's chair by 2:15 am, the not-director of the CBI would have called for pen and paper and hand-written a few clean chits.' 'Clean chits over Rafale; clean chits to the PM's secretary in the coal bribery case; a clean chit to Hasmukh Adhia on whatever claim Subramanian Swamy has cooked up about him...' says Mihir Sharma.
This, said Sitharaman, would remove the possibility of unauthorised communication "and consequent harassment", which was a cause of concern for bankers.
The panel's meet held on Wednesday remained inconclusive, they said, without giving further details.
Management lessons from Dhoni have universal appeal and can be used by corporates and even the UPA, to reflect on existing structures and strategies, says Sanjeev Nayyar.
Newly-appointed Chief Vigilance Commissioner Pradeep Kumar, an IIT-Delhi alumni and Haryana cadre Indian Administrative Service officer of the 1972 batch, is a seasoned bureaucrat who has traversed the corridors of power in the capital having served in various key ministries.
A bench headed by acting Chief Justice A K Sikri would consider the fresh application filed by Centre for Public Interest Litigation.
On the back of recent controversies involving the release of Niira Radia tapes, allocation of 2G spectrum and alleged financial irregularities in the Commonwealth Games, the Confederation of Indian Industry (CII) plans to launch a "moral leadership" campaign to combat the rising incidents of corruption.
An inspection by the Central Vigilance Commission has found serious discrepancies like award of works at higher rates to bidders, poor quality of construction and grant of work to ineligible agencies in different Commonwealth Games-related construction works being carried out by various departments in Delhi.
Embattled CVC P J Thomas told the Supreme Court that his appointment as Central Vigilance Commissioner cannot be subject to judicial review and that it does not not get vitiated merely because of chargesheet pending against him in a corruption case.
Manish Kumar Sinha has also alleged that the complainant in the case, businessman Sana Sathish Babu, had told him that Union minister Haribhai Parthibhai Chaudhari had been paid bribes to the tune of several crores of rupees for alleged help in matters related to CBI.
US media group News Corp and Italian financial holding Exor, which controls Ferrari through carmaker Fiat, are teaming up to explore options on how to run Formula One motor racing.
'The skills and abilities of civil servants are still respected, even though they become whipping boys when things go wrong.'
A British judge found on Thursday that Bernie Ecclestone had paid bribes to a German banker as part of a "corrupt agreement" linked to the 2005 sale of a stake in Formula One - an issue at the heart of Ecclestone's forthcoming bribery trial in Germany.
Admitting to irregularities in the export of non-basmati rice to some African countries during UPA-I tenure, the government on Friday said it has referred the matter to the CVC after slapping show-cause notices on officials of PSUs, involved in the transactions.
"Excellent meeting with Nobel Laureate Abhijit Banerjee. His passion towards human empowerment is clearly visible. We had a healthy and extensive interaction on various subjects. India is proud of his accomplishments. Wishing him the very best for his future endeavours," Modi said in a tweet, sharing a picture of their meeting at his official residence.
The Congress' protests in the national capital were replicated in other parts of the country.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances