National artificial intelligence unit stuck for lack of anchor department
The government is looking to review the guidelines governing executive pay practices at the companies to bring them in tune with the changing times in terms of the economic advances in the country.
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.
This demand comes at a time when the government is falling short of its revenue targets due to dwindling tax and low disinvestment receipts. It could account for the dividend in the upcoming Union Budget on February 1. RBI is, however, yet to take a final call on the government's demand and might decide on this at its central board meeting scheduled for February 15 in New Delhi.
Reserve Bank has expressed dissent at the finance ministry panel's suggestion on allowing foreign institutional investors to issue Participatory Notes and allowing them to take exposure in India's debt instruments.
Undaunted by criticism by a Parliamentary panel, the government cleared 28 fresh special economic zone proposals on Thursday, including the Navi Mumbai promoted by Reliance Industries Chairman Mukesh Ambani.
This amount will include Rs 13,100 crore that Economic Affairs Secretary Subhash Garg has been publicly seeking from the central bank's contingency reserve fund since 2017-18 (FY18).
'The crisis has strengthened America's resolve to work towards building its relationship with India as a bulwark against Chinese aggression'
The regulator said that it is vested within its purview to regulate the bank account for payment systems and the settlement systems are finally posted in the books of account of banks with the RBI to attain settlement finality.
Dissatisfied with the reply about non-submission of the controversial March 25 note on 2G spectrum allocation before the panel examining the issue, non-United Progressive Alliance members of the Joint Parliamentary Committee on Monday asked the finance ministry to provide input documents that helped its compilation.
Asked whether growth was responsible for rising prices, Ahluwalia replied, "I don't agree that whenever you have (high economic) growth then you have inflation."
A first step in that direction has been taken by the prime minister by setting up an expert panel headed by his economic advisory council.
Finance Minister Pranab Mukherjee was aware of the contents of the controversial 2G note which was issued as an office memorandum at the insistence of the Prime Minister's Office, a top official told the Joint Parliamentary Committee on Thursday.
The government has approved 20 new highway and housing projects at a total investment of Rs 14,538 crore (Rs 145.38 billion).
Michael Holding gave an example of how the quality of EPL's games didn't take a hit despite matches being played in front of empty stands.
Chidambaram said NSEL was not a registered or recognised association under the FMC but got exemption even before it started its business.
Huawei came under a cloud after allegations that the firm's electronic and telecom devices helped China spy on US corporations and agencies.
If accepted, the plan could give the sector Rs 70,000-crore (Rs 700-billion) relief.
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
Continuing its dismal performance, industrial growth fell further to 1.9 per cent in September, mainly due to poor output from the manufacturing sector.
Amid signs of moderation in price rise situation in the country, the January inflation numbers are likely to drop below 7 per cent, said Chief Economic Adviser Kaushik Basu said.
A prime minister-appointed panel on inflation has pitched for opening FDI in multibrand retail in a 'properly regulated fashion', cautioning that the global corporations can also become monopolistic and hike prices.
Although there is headroom for further monetary policy action, at this juncture it is important to keep our arsenal dry and use it judiciously: RBI's Das.
Japan's Asahi Shimbun, an official partner of the Tokyo 2020 Olympics, called for the Summer Games to be cancelled in an editorial
Declining vegetable prices brought down the retail inflation to a 15-month low of 4.59 per cent in December and within the comfort zone of the Reserve Bank, government data showed on Tuesday. It is for the first time during the current fiscal that the Consumer Price Index (CPI) based inflation print is below 6 per cent or in the RBI's target range of 2 to 6 per cent. The central bank factors in the CPI-based inflation while arriving at its monetary policy. The inflation in December 2020 came down from 6.93 per cent in November, mainly on account of 10.41 per cent decline in vegetable prices over the year-ago period.
Prime Minister's economic advisory panel has said there was no need for any stimulas package to help the industry tide over the impact of the crisis following downgrade of the US credit rating by Standard and Poor's.
Ministry wants to take views of industry on the issue, before giving its opinion to the Securities & Exchange Board of India.
The panel will look into issues related to compliance procedure.
RBI in its mid-year review of the monetary policy is expected to raise its key interest rate by 25 basis point to contain inflation which is hovering near the double-digit mark.
The government is aiming to reach out to nearly 1.50 lakh youth in Jammu and Kashmir based on a plan submitted by an expert panel highlighting the vast untapped potential for employment generation in the state, Prime Minister Manmohan Singh on Friday said.
Polls in Uttar Pradesh, Uttarakhand, Manipur, Punjab and Goa will be held between February 4 and March 8.
The government must set up a Bank Investment Company to shrink its role in PSBs, if we are serious about tackling the two persistent issues - lax corporate governance practices and discretionary decision-making, says Shyamal Majumdar.
The first signs of growing bonhomie between Modi and Rajan came early last year, when Modi called Rajan the "best teacher" for explaining complex economic issues to him.
Urjit Patel panel wanted all members to be appointed by RBI
The data further revealed that GDP growth rate was 9.4 per cent in the last quarter of 2009-10 and 8.3 per cent in the third quarter of 2010-11.
Frosty Indo-Pak relations after the beheading of Indian soldiers by Pakistani troops were on full display in Yokohama, Japan.
The minister said Indian economy was the fastest growing.
'If we do not burn the residue, wheat sowing will be delayed and that will ultimately affect the yield'
Enthused by the prospects of good monsoon, the Planning Commission on Tuesday said the double digits inflation would decline by December, and sounded optimism that economic growth would exceed 8.5 per cent this fiscal.
