I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
Delivering the key mote address at the Citi's Investor Summit, Jaitley hoped that as a professional organisation the Reserve Bank will take 'the best decision'.
This doctor couple put their faith in India. And in return India has put faith in them.
Instruments such as Reits, InvITs, unsponsored GDR, GIFT find few takers.
In the first half of the fiscal year, government had borrowed Rs 3.44 lakh crore.
Credit to priority sectors as well as small and medium industries will be discussed to find ways to accelerate economic growth.
David H McCormick, under secretary for international affairs at the US Department of Treasury, said on Tuesday that in an era of global trade and investment both the US and Asia need each other to maintain strong economic growth. McCormick was speaking at the Asia Society on 'US-Asia Economic Relations -- the Next Chapter,'.
Since August 2013, FIPB has approved two FDI proposals in the telecom sector.
'I hope that the incoming Biden-Harris Administration works with India to address some of the most profound geopolitical transboundary challenges.'
Earlier, an inter-ministerial group used to take these decisions.
Jaitley said note ban has compelled people to deposit money into bank accounts.
Yes. Whilst public expenditure is kicking in, the key reason is the decline in private investment
Secretary of State Mike Pompeo said he was taking action against an unspecified number of Chinese officials, including from the ruling Communist Party, under a US law that calls on China to let Americans visit Tibet.
India's public debt ratio, which remarkably remained stable at around 70 per cent of the GDP since 1991, is projected to jump by 17 percentage points to nearly 90 per cent because of increase in public spending due to COVID-19, the IMF said.
FDI in the defence sector during 2000-2014 has been a meagre $4.94 billion, despite the total FDI flow into the country across sectors standing at $321.81 billion.
BSE proposes two models for making gold trading and investment transparent
Wang Yang and Xi Jinping's visits signal the beginning of a major Chinese push to bring about a transformation of Tibet, observes Jayadeva Ranade, the distinguished China expert and retired RA&W officer.
In a major relief to thousands of Indian IT professionals, a federal judge in the US on Thursday blocked the enforcement of a temporary visa ban by the Trump administration on a large number of work permits, including the most sought after H-1B visas, ruling that the president exceeded his constitutional authority.
To attract capital into infrastructure projects, the ratings system needs a fresh look.
Calling India a 'growing world power', the United States has said that the country, which aspires to become a permanent member of the UNSC, remains a leader of developing nations and the Non-Aligned Movement in the post-Cold War era.
Assistant Secretary for South and Central Asian Affairs Nisha Biswal will travel to Bangalore and New Delhi from March 4 to 6
The Central Bureau of Investigation on Thursday night arrested a Mumbai-based chartered accountant and two government officials for allegedly selling confidential documents related to foreign investment policy to corporate groups after it carried out searches in offices of Finance and Commerce Ministries in New Delhi and in Mumbai.
'In a serious fiscal situation like this, an ostrich-like focus on annual budgeting, event management and defensive rhetoric will only make matters worse,' warns Rathin Roy.
The 'Smart Cities' project is one that has faced many hurdles.
There is also a lobby within the bureaucracy that wants to see Rajan's influence curtailed
'The people of Jammu and Kashmir are your own people. Do not use them as cannon fodder in your laboratory.'
The move to allow payments through digital wallets could give a fillip to distribution and reach for these investment vehicles, say experts.
The economy is gaining traction with gradual pick up in manufacturing activity and moderation in contraction of services, spurred by comfortable liquidity conditions, an RBI article on Tuesday said. Observing that the retreat of the second wave of coronavirus pandemic has been slow, the RBI in an article on the 'State of Economy' said, the aggregate demand conditions are buoyed by the release of pent-up demand post unlock, while the supply situation is improving with the monsoon catching up to its normal levels and sowing activity gaining pace. "Reaffirming the traction that the economy is gaining, the manufacturing activity is gradually turning around, while contraction in services has moderated.
UP's mills, dominated by the private sector's 94 units, have already expressed their inability to participate in the next crushing season
'Is the appointment of a CDS likely to achieve the creation of battle-ready, tri-service military commands, from the current 17 single-service commands?', asks Ajai Shukla.
The president and First Lady Melania Trump will travel to New Delhi and Ahmedabad during the visit.
The United States has said it supports a direct dialogue between India and Pakistan as outlined in the Shimla Agreement
Etihad earns about 23 per cent of its passenger revenue from code-share and equity partners, and this would increase after its tie-up with Jet.
Jaitley assured that both the banking system and the government will make the resources available to them.
DMRC-like SPV to be floated in a month for the Rs 98,000 crore Mumbai-Ahmedabad corridor.
For the urban population, recalibration of ATMs has already started and they will start dispensing the new Rs 2,000 currency notes from Monday or Tuesday.
United Nations proscribed terrorist Lakhvi, 61, who was on bail since 2015 in the Mumbai attack case, was arrested by the Counter-Terrorism Department of Punjab province on Saturday.
A cut in rates would have encouraged the banks to lend aggressively on the retail front.
India and the US also made a strong push for the intra-Afghan peace process to end violence in Afghanistan and ensure that it does not become home to terrorism, and vowed to deepen cooperation in the Indo-Pacific and on COVID-19 response and economic recovery.
India has banned as many as 106 Chinese apps, including TikTok, a move welcomed by both the Trump administration and the US lawmakers.
