A Haryana government employee has been arrested in connection with the Rs 590 crore IDFC First Bank fraud case, which involved state government accounts and led to the recovery of nearly Rs 556 crore within 24 hours.
Though Anand Sinha, an executive director at the central bank, was late last month selected as the successor to Thorat, he is yet to get the orders from the finance ministry to assume office.
Many Indian companies provide outsourcing services to various American entities, including large banks and financial institutions.
Enforcement agencies have highlighted risks related to money laundering and terror financing, prompting closer scrutiny of crypto platforms operating in India.
The central bank has nine executive directors, and one of them -- S Karuppasamy -- retired recently. R Gandhi, who was executive director, has now been promoted to the post of deputy governor.
'Losing a house is a terrible feeling... We were not given enough time to shift our belongings.'
Gandhi was the executive director at the Reserve Bank of India before being promoted to deputy governor post.
One incident should not be used to generalise the health of all cooperative banks, says RBI governor Shaktikanta Das.
The deadline for officers to decide on their career path in the biggest organisational rejig in the central bank's 85-year history ends on January 31. The immediate fallout could be its disruptive impact on the supervisory process for 2020 -- and beyond -- given the manpower shortfall, even as more entities are set to come under closer central bank scrutiny.
Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
RBI conducts interviews for first lateral hire for CGM post; deputy governors to head four distinct verticals.
Such minutes will be available within two weeks from the date of its confirmation in the next meeting of the central board and on being signed by the chairman in the same meeting, the RBI said in a statement on its website.
This is the new addition to the tax data, which had identified over 600,000 people for scrutiny over huge inconsistencies in the cash deposits
The finance ministry has ruled out the proposal for the appointment of a chief operating officer (COO) of the rank of deputy governor in the Reserve Bank of India (RBI), as the government feels no interim arrangements should be made for such high-profile appointments.
Income tax officials have directed property dealers and registration authorities to prepare a list of top property deals that have taken place in the last three years.
The credit guarantee cover under the scheme would be both transaction-based (for single eligible borrowers) and umbrella-based (for a group of eligible borrowers).
The total number of arrests by the CBI has risen to six -- four PNB officials, a retired employee of the bank, and an authorsied signatory of Nirav Modi's company -- after Monday's development.
With a sole mandate of inflation targeting, RBI wears many hats.
There is no reason for keeping an entire ministry with a total staff strength of 2,300, just for the oversight of a few aviation sector laws and regulatory bodies, notes A K Bhattacharya.
Central banking is a science, not an art, Tamal Bandyopadhyay tells RBI Governor Shaktikanta Das.
'These are challenging times and we get energised by that.' 'I don't feel that 'I am tired now and I should relax', because even if someone calls us at 12 o'clock I have to answer his call.'
The IMD has fancy weather-monitoring radars in the name of providing better forecasts.
A K Bhattacharya digs into the yet-to-be-public report on ways to curb black money and finds out that Modi's next moves could include action on dabba trading, hawala, and education.
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