The agreement on sharing of financial information is a distinct and welcome break from its trend.
The annual earnings of a non-executive chairman of a PSB is capped at Rs 10 lakh, inclusive of fees for attending board meetings. This is way below the compensation of the chairman of any private bank, reveals Tamal Bandyopadhyay.
The senior RBI official, who assumed office on July 31, a day before he was to retire from the state-run Bank of Baroda as its chairman, said developments in construction technologies should make it possible for developers to bring down home prices.
There is a need for better computation of numbers so as to avoid overlaps and capture the net gains to the economy.
The stock markets, which had opened in the green on rate cut hopes, tumbled after the monetary policy announcement.
"The Monetary Policy Committee recognises that there is monetary policy space for future action. However, given the evolving growth-inflation dynamics, the MPC felt it appropriate to take a pause at this juncture," the RBI said in its fifth bi-monthly monetary policy for this fiscal.
They have cited higher capital for bad-loan provisioning, pending legislative amendments, and delay in finalising rules by the Reserve Bank of India (RBI) as some of the reasons.
'The financial situation of Tamil Nadu is much worse than it was in 2016.' 'The finance minister's is a horrendous job.' 'I am certainly not going to ask for it.'
Although the RBI is not statutorily independent from the government, Rajan, like previous RBI Governors, has long valued his independence.
At a meeting with the central bank, bankers opposed the entry of new banks, as there were enough players already. Newer entrants would only increase "unnecessary" competition and deplete their margins, top bankers told central bank officials.
The friction with the political class is not only about interest rates and monetary policy. While the government often spoke freely about its discomfiture, the RBI had to be careful even in its response to the government as any loose statement would affect the markets.
The accused were charged under Indian Penal Code sections -- 409 (criminal breach of trust by public servant, or by banker, merchant or agent), 420 (cheating) and 120B (punishment of criminal conspiracy).
Indian economy has good fundamentals and sizeable foreign reserves, RBI Governor Raghuram rajan said.
India's macroeconomic environment is improving, but it is still not past the point where it can ignore the developments in the global markets
Stressed MSME borrowers would be eligible for restructuring of debt, if their accounts were classified standard.
Never one to mince words, Rajan will walk away with a mixed legacy
Women's representation in government jobs is less than 15%.
Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector.
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KC Chakrabarty who was appointed as RBI deputy governor in 2009, is considered frank with his views.
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Former RBI Governor Subbarao blamed Chidambaram for undermining the autonomy of RBI and putting pressure on him to cut interest rates.
The Reserve Bank of India (RBI) on Friday decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying rate cuts in the future if need arises to support the economy hit by the Covid-19 pandemic.
Banks want lower provisioning burden on recast debt, interest on cash reserve ratio deposits.
Banks operating in India reported fraud of Rs 4.92 trillion as on March 31, 2021, which represents nearly 4.5 per cent of the total bank credit, showed Reserve Bank of India (RBI) data, which was sought under the Right to Information (RTI) Act by Saurabh Pandhare. The data showed 90 banks and financial institutions reported a total of 45,613 cases of loan fraud till March 31, 2021. State Bank of India - the country's largest lender - reported the highest amount of loans as fraud - Rs 78,072 crore as on March 31, 2021.
Investors attribute some of the growth in Indian stocks, that saw Bombay's benchmark BSE index rise nearly a third in 2014, to the election of a pro-business government in May, under Prime Minister Narendra Modi.
Most say a rate cut could come in RBI's June policy.
The PNB fiasco falls into a family line that involves non-fund limits - read contingent liabilities which are off-books. Harshad Mehta did it with bankers' receipts in 1992. Ketan Parekh exploited the ignorance of bankers who did not know the difference between a cheque and a pay-order. And the RBI blinked when it failed to insist the SWIFT platform be linked to the core banking solution. Raghu Mohan & Abhijit Lele trace the banking mess that was just waiting to happen.
Raghuram Rajan has appointed him as head of several committees soon after taking charge.
India's $121 billion troubled debt pile, over $100 billion of which is on the books of state-owned banks, has come under close scrutiny from prosecutors, the media and politicians
RBI said aggregate demand during the year so far suggests that the shock to consumption is severe, and it will take quite some time to mend and regain the pre-COVID-19 momentum.
The RBI's warnings signal its concern that unhedged firms could be a vulnerable link should global markets buckle.
Reserve Bank of India (RBI) Governor Raghuram Rajan on Tuesday cautioned against extrapolating the issue of alleged graft charges in a public-sector bank to the entire public sector banking system.
The cut-off date the RBI chose was March 1, 2018. This meant that by the end of August if these accounts were not resolved, then they would have to proceed through insolvency.
RBI wants the lending rates to be determined by the market.
'It is like bombing a building with 200 people to kill 5 terrorists.'
As per the RBI Act, the central bank has to have four deputy governors.
The big test will come at the end of March when the fiscal year ends and banks tend to hold on to cash.
This is the biggest equity-raising exercise by an Indian corporate within a financial year. The fundraising - led by Citibank, Goldman, Kotak and Axis Capital as bankers - will see participation by foreign and domestic institutional investors.
'Nobody will wait now. Everyone will come to deposit their old notes. The confidence is shaken.'
