We may now be experiencing the darker side of the massive monetary stimulus of past years, said Rajan.
He warned low interest rates globally could distort markets and would be difficult to abandon
A high-level committee on External Commercial Borrowings chaired by Finance Secretary D Subbarao is expected to take a final view on the matter this week. The committee comprises officials of the ministry of finance and the Reserve Bank of India. A high-level committee on External Commercial Borrowings chaired by Finance Secretary D Subbarao is expected to take a final view on the matter this week.
The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
Maruti was the top gainer in the Sensex pack, rising around 6 per cent, followed by Tech Mahindra, Infosys, UltraTech Cement, PowerGrid and NTPC. On the other hand, IndusInd Bank, Bharti Airtel, SBI, ITC and HDFC were the laggards.
Some have been cherry-picked to assert the BJP's supremacy over its allies or, significantly, its leaders who charted an independent course in the recent past.
Axis Bank was the top gainer in the Sensex pack, rising around 3 per cent, followed by Sun Pharma, Reliance Industries, ONGC, HDFC, ICICI Bank, Kotak Bank and Bharti Airtel. On the other hand, Infosys, IndusInd Bank, HCL Tech, Nestle India and Tech Mahindra were among the laggards.
If appointed interim head, Vishwanathan would head the central board meeting scheduled this Friday
Amit Chaudhary from Sarkari Jobs will answer your queries on how to crack the SSC Combined Graduate Level exam.
Market participants must appreciate that staying cautious is a virtue for central bankers and should not expect a sudden reversal in the formal monetary policy stance.
The stock-market panic is not the only reason for rising investment demand.
'I am not optimistic about the global economy for the next couple of years.'
Patra, as executive director of the central bank, was the principal advisor to the Monetary Policy Department since July 2012.
Leaving behind the luxe life and dapper suits of foreign banks, Puri and his team at the upstart venture shared fizz drinks, wore a footwear brand popular among the middle class, shared a rat-infested space in a yet-to-be gentrified work space to plan and execute it.
Mahua asserted that despite all efforts by the Bharatiya Janata Party to "sound the death knell" for constitutional democracy, India is too great a country to be destroyed by the fascists.
For a variety of reasons it would seem that endangering the dollar is in the interest of the Wall Street at this point in time. The Fed has merely obeyed its masters at Wall Street. Good luck to the US dollar!
The success of recent IPOs and the stability in the secondary market are propelling many firms and investment bankers to remove their IPO plans.
The decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
The government will privately place bonds with the Reserve Bank of India to raise funds to repay some of its foreign debt ahead of schedule, a top central banker said on Thursday.
Central banking is a science, not an art, Tamal Bandyopadhyay tells RBI Governor Shaktikanta Das.
A key hindrance to a faster turnaround of these banks is the slow progress in the resolution of legacy bad loans and the need to build up provisions against those assets.
China's central banker on Monday acknowledged the presence of some speculative funds in the nation's record foreign exchange reserves of nearly $610 billion but asserted that the volume was 'not big.'
The central government has given banks and credit card entities six to eight months to put in place the requisite reporting mechanism and related features to collect tax at source on international credit card transactions, a senior bureaucrat told Business Standard. According to the bureaucrat, the plan to bring overseas credit cards under the Liberalised Remittance Scheme (LRS) has not been mothballed and is simply being deferred so that banks get adequate time to get the system up and running. The official expects the reporting mechanism to be ready in the given time, and the rule could be implemented in the next financial year (2024-25, or FY25).
A committee headed by Patel recommended retail inflation targeting and a monetary policy committee.
Inflation will be a much harder nut to crack than it has been in the 1980s and 1990s.
Equity benchmark Sensex rallied 487 points on Monday to close at a fresh lifetime peak, tracking gains in Infosys, HDFC twins and HCL Tech amid massive foreign fund inflows.
Commercial banks have not yet reduced their lending rates.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Top bankers have hailed the contributions of the outgoing Reserve Bank Governor Duvuuri Subbarao saying he did his best during a tenure that was marked by difficult times for the economy.
'I don't think we have ever seen such alignment of everything that we need in the banking sector.'
Calling RBI Governor Raghuram Rajan's exit a 'bad omen' for the Indian economy, eminent economists and former policymakers on Sunday said it will be seen by the world as India's non-approval to a policy against inflation and bad loans.
Bankers have been criticised for not passing the benefits of rate cuts
Party treasurer Ajay Maken has claimed that "democracy will be over if the action of probe agencies goes unchecked" and said the Congress has full faith in the judiciary.
Former RBI governor R Gandhi said that the RBI needs to re-introduce a one-time restructuring package and mere moratoriums will not suffice in unprecedented times like the COVID-19 pandemic.
At a time when the role of corporate boards is once again under the scanner, independent directors on the Paytm Payments Bank board have indicated that red flags were raised over regulatory issues but they may have been late in doing so. "As independent directors, we asked questions and monitored responses to the Reserve Bank of India (RBI). Many changes were made on compliances. "Obviously, in retrospect, it was not found to be enough," said one of the independent directors on the condition of anonymity.
'It is nice that the banking system is in good shape.' 'It is a little early to call it too good because I think it was too bad in the past.'
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
'Money that came into mutual funds near the previous peaks -- the second half of 2017 and 2018 -- has in most cases experienced unflattering returns.' 'A large proportion of redemptions could be such inflows exiting when the market recovered sharply from July 2020 onwards.'
