The central government is looking to strengthen the boards of public sector banks (PSBs) by specifying terms of office and conditions of service for whole-time directors, and also seeking disclosures from all directors about interests in other companies. Through the Banking Laws Amendment Bill, the government is likely to introduce conditions for disqualification of whole-time and independent directors which are not specified in the current legislation. The Centre is seeking to introduce fresh changes that are aimed at strengthening the boards of PSBs, and holding their directors accountable, an official said.
The board deliberated on the governance framework of the RBI and it was decided that the matter needs further examination
With concern on food inflation ebbing with the monsoon progressing well, the Reserve Bank of India (RBI) is warming up to the idea of a change in stance to "neutral" from "withdrawal of accommodation", according to economists. In his speech on Thursday during the annual event of the Federation of Indian Chambers of Commerce and Industry-Indian Banks' Association, RBI Governor Shaktikanta Das said: "The balance between inflation and growth is well-poised."
Naqvi previously mentioned that a "major surgery" was required in the team after Pakistan's defeat to India
Why did the political system in the country react to these two decisions of the Modi government in a diametrically opposite manner? asks A K Bhattacharya.
Modi can abandon the path of Hindutva only at risk to his position within his own fraternity. But if he pursues a hard line, he faces the risk of being hauled up by his coalition-partners. For the first time in a decade, Modi is not in enviable situation, observes Nilanjan Mukhopadhyay.
Insurance sector regulator IRDAI has given conditional approval to Hinduja Group firm IndusInd International Holdings Ltd (IIHL) for the takeover of debt-ridden Reliance Capital. "We are happy to acknowledge the receipt of approval from IRDAI yesterday (May 10, 2024) on the auspicious occasion of Akshay Tritiya. "The approval is subject to certain 'regulatory, statutory, and judicial' clearances/compliances," an IIHL spokesperson said in a statement.
The court made the observation while hearing a plea which claimed that the depiction of a Bible concealing a gun in the Malayalam action movie Antony denigrates Christianity.
'We crossed Rs 1.7 trillion in three months this financial year.'
Controversial keeper-batter Wriddhiman Saha, who has been dropped from the Test team, will still earn Rs 1 crore in annual income after being demoted from group B to C.
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
Empolyees Provident Fund, the Central Board of Trustees of EPF is likely to meet on May 31 to take a view on the rate to be paid for the current year.\n
'The strategy of frontal organisations of the Maoists is to create unrest and ensure that such unrest leads to a law and order problem.' 'To cover such acts it was necessary to bring in a different definition of unlawful activities which is different from the definition of unlawful activities in the UAPA.'
'I gave enough evidence and proof to punish corrupt officials.' 'But my own government has not filed any FIR against such officials.'
The Centre has notified new norms for the appointment of directors of Indian Institutes of Management (IIMs), making it mandatory for applicants to have first class degrees in both Bachelor's and Master's, along with a PhD or equivalent from a reputed institute.
Retirement fund body EPFO is likely to approve this month a proposal to enhance its investments in equites to up to 20 per cent of the investible deposits from the current limit of 15 per cent. The proposal is expected to be considered and approved during the EPFO trustees' meeting scheduled to be held on July 29 and 30, according to a source. At present, EPFO can investment 5 to 15 per cent of the investible deposits in equity or equity-related schemes.
If indeed we want the board to manage the RBI, probably the government should take a close look at the US Federal Reserve system which has a two-part structure - a central authority in Washington, DC, and a decentralised network of 12 Federal Reserve Banks located throughout the country, says Tamal Bandyopadhyay.
Three years after India declared its goal to become a net-zero economy by 2070, the policy design for achieving the target has begun, with the NITI Aayog forming dedicated multi-sectoral committees to prepare a transition plan. In 2021, India joined a select group of nations that set a target year for becoming net-zero carbon economy. At COP26 in Glasgow, Prime Minister Narendra Modi outlined a five-pronged 'Panchamitra' climate action target for India and committed to a net-zero target by 2070, joining nations like the US, the UK, and China.
The Reserve Bank on Wednesday increased the benchmark lending rate by 40 basis points (bps) to 4.40 per cent in a bid to contain inflation, which has remained stubbornly above the target zone of 6 per cent for the last three months. The decision follows an unscheduled meeting of the Monetary Policy Committee (MPC), with all six members unanimously voting for a rate hike while maintaining the accommodative stance. While the inflation has remained above the targetted 6 per cent since January, RBI Governor Shaktikanta Das said the inflation print in April is also likely to be high.
'The revenue projection arises out of all sectors doing well and the formalisation of the economy helps in making sure the tax domain gets widened.'
Gandhiji asked me if I had sufficient warm clothes in view of the coming cold season. I said yes. But he verified my statement by asking Miraben to search my bag to make sure. Such was Gandhiji.
According to the makers, the CBFC was not happy with references made to Prime Minister Narendra Modi and use of real names in the film.
Pakistan's on-field performances not affected by frequent changes in PCB, says acting chairman
The Central Board of Film Certification, however, submitted that all the 13 changes including deletion of Punjab in the film title suggested by its Revising Committee were justified and proper.
Yes Bank said it has received approval from the Capital Raising Committee of the Board of Directors of the Bank for raising funds by a way of FPO.
'Sebi had no problem with derivatives until trading exploded after Covid.' 'But now, having built a dangerous road, from which different entities, mainly governments, are extracting a heavy toll, Sebi is concerned that people are driving on it in much greater numbers,' explains Debashis Basu.
The 75-year-old Eshwarappa, had remained steadfast in his decision to contest, spurning efforts by party leaders to pacify him. He had even filed his nomination as an independent candidate.
The RBI was not party to the decision to demonetize 500 and 1,000-rupee notes, which was taken at the highest level of India's political leadership.
'Just think about it. She's a prosecutor, he's a convicted felon. I love that juxtaposition.' 'She's a woman, and she's black and South Asian. He's a white guy who grew up with enormous [wealth].' 'She grew up in a very average, lower middle class/middle class kind of setting with a single mother.'
Following are the various committees and sub-committees of the Board of Control for Cricket in India for the year 2011-12, selected at its 82nd AGM, in Mumbai, on Monday.
As part of the "Atmanirbhar Bharat" (self-reliant India) package, the central government had announced on May 16 last year that it would improve autonomy, accountability and efficiency in ordnance supplies by corporatisation of the OFB.
The probe committee comprises principal chief security commissioners of the Western Railway and the Central Railway, principal chief commercial manager of the North Western Railway, principal chief medical director of the North Central Railway and principal chief personnel officer of the West Central Railway.
Khan asserted that he will not allow the central government to take over the waqf properties.
Tamil Nadu, Kerala, West Bengal, Assam and the Union Territory of neighbouring Puducherry are likely to go to polls in April or May.
Former Pakistan captain Shoaib Malik will not be awarded a central contract by the Cricket Board (PCB) as he is yet to satisfy the integrity committee about an amount of 90,000 pounds in his account.
Meanwhile, the sports ministry has asked the PCB not to offer a long-term contract to its incumbent director of cricket Mohammad Hafeez yet, who came into the role after the 50-overs World Cup last year.
Former India medium pacer Debashish Mohanty of Orissa and ex-stumper M S K Prasad of Andhra have found a place in the Board of Control for Cricket in India's nine-member technical committee, headed by former captain Anil Kumble.
For five consecutive policy reviews in 2023, the Reserve Bank of India (RBI) chose to hold rates, citing inflation threat. And when the prices did cool off a bit, it reminded all about the target to get the headline consumer price inflation at 4 per cent and the risks from food inflation. Heading into the new year, all eyes are on when RBI will cut the rates, especially after one of the Monetary Policy Committee (MPC) members stressed on the need for such an action in the face of the US Federal Reserve's guidance for easing rates.
In order to reduce government litigations, the Union Finance Minister Nirmala Sitharaman on Saturday said the GST Council has fixed a monetary limit for filing appeals by the tax department before the various appellate authorities. It has recommended a monetary limit of Rs 20 lakh for GST Appellate Tribunal, Rs 1 crore for the High Court and Rs 2 crore for the Supreme Court for filing of appeals by the department before these legal forums, she said after the 53rd GST Council meeting held in New Delhi.
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).
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