In a soon to be published book, 'Of Counsel: The Challenges of the Modi-Jaitley Economy,' former chief economic advisor Arvind Subramanian says though RBI has a good reputation, it does not mean it's always right, as for years, the RBI was unable to grasp the seriousness of the loan repayment problems or identify the prolonged frauds of Nirav Modi and the likes.
'Our competitiveness with China is very important.' 'If the exchange rate depreciates, it is good for us because it helps in our competitiveness.'
On Monday, Thakur egged on participants of an election rally to raise an incendiary slogan that 'traitors should be shot', after he lashed out at anti-Citizenship Amendment Act protesters.
If General Asim Munir, Pakistan's new army chief, wants to help defuse the current polarised atmosphere and shepherd civilian politicians towards negotiations on an acceptable date for elections, he may need to distance himself from any perception of needless hostility to Imran Khan, explains Rana Banerji, who headed the Pakistan desk at RA&W, India's external intelligence agency.
'What matters is meeting the needs and expectations of the people who have voted to provide governance for the country.'
Government looking at cushioning slowdown due to demonetisation with sops and higher outlay for micro, small and medium enterprises, agriculture, and affordable housing.
The country was, in February, put on the list of jurisdictions that require increased monitoring. These are done to counter money-laundering, terrorist financing, and proliferation financing in a more efficient manner.
Private equity (PE) is set to play a bigger role in banks. Of 21 recommendations accepted by the Reserve Bank of India (RBI) out of 31 made by its Internal Working Group (IWG), its stance on non-promoter holdings in private banks is seen with excitement, though it doesn't refer to PEs explicitly. On non-promoter holdings in these banks, the RBI said this will be capped at 10 per cent of the paid-up voting equity share capital in the case "of natural persons and non-financial institutions and entities"; and "at 15 per cent for all categories of financial institutions, entities, supranational institutions, public sector undertaking, or the government." While this is a modification of the IWG's stance for the non-promoter holding in banks at up to 15 per cent, it does open up a huge window for PEs, all the same. This is because, while the RBI has remained silent on the eligibility of industrial houses for bank licences, fresh high-quality capital in large amounts can only come from PEs.
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