The move aimed at blunting Finance Ministry, RBI's opposition to monthly reporting.
At a recent meeting of the high level coordination committee of regulators on capital markets, the RBI clarified that no approvals for VCFs will be issued since the Finance Ministry is reviewing the policy for investment in the realty sector for both foreign direct investment (FDI) and portfolio investments by foreign institutional investors.
Implementing two simple policies - registration, not licensing, of foreign portfolio investors, and reduction of interest rates - will make capital inflows non-copious.
India's economic growth rate is expected to be at least 6 per cent in the 2013-14 fiscal, Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan said.
Govt likely to get full control on policy rate.
The Reserve Bank of India (RBI) has recommended to the finance ministry a series of measures to curb investment flows from venture funds and into real estate.
India has moved 100 metric tonnes of its gold stored in the UK to domestic vaults in FY24, sources said on Friday. This is one of the biggest movements of gold undertaken by the country since 1991, when pledging a substantial part of the gold holding to tide over a foreign exchange crisis resulted in its movement out of vaults. The country's overall gold holding increased 27.46 metric tonnes in FY24 and it stands at 822 metric tonnes, as per official data.
On Tuesday, Reserve Bank raised the overseas investment limit by mutual funds to $5 billion from $4 billion earlier. Sources said as even $4-billion limit is not exhausted, there was no rationale in keeping the cap on individual mutual funds.
Rajan said the central bank has used up all its "space available" to cut interest rates
The move came days after he chaired a controversial board meeting mid-December that cleared Satyam's acquisition of two companies -- Maytas Infra and Maytas Properties -- linked to the family of the IT firm's founder and chairman B Ramalinga Raju. On December 29, Rao also resigned from the Satyam board.
The government is weighing the option of creating the post of a fourth Deputy Governor in the Reserve Bank of India to oversee activities of the co-operative banking sector, which has seen a series of scams in the last two years.
Focus to be on unbanked areas; initial capital is set at Rs 100 crore; India Post can apply.
'We are in a position to start due diligence and private data room access shortly.'
Arundhati Bhattacharya is a strong contender for chairperson post, after Pratip Chaudhuri retires in September.
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After scrapping the selection of six UPA-appointed bank chiefs, the government has now decided to make significant changes to the selection process.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
Foreign institutional investors are likely to be debarred from taking part in initial public offerings of stock exchanges, while foreign direct investment may be permitted even in pre-IPO stage.
The Ministry of External Affairs (MEA) on March 17 had announced that State Bank of India (SBI) would extend a term loan of $1 billion to Sri Lanka, fully guaranteed by the Indian government, and this was part of India's financial aid to the troubled island nation. Ministry of External Affairs (MEA) spokesperson Arindam Bagchi was quoted saying by news agency PTI that the loan would be used for importing food, medicines, and other essential items. "India has always stood with the people of Sri Lanka and we will continue to extend all possible support at this juncture.
Despite the objections raised by Reserve Bank of India and Election Commission, India's politics has been funded anonymously and it is time to end this, asserts Aakar Patel.
The Serious Fraud Investigation Office (SFIO) has arrested a person who the Ministry of Corporate Affairs (MCA) said has emerged as the mastermind of the racket of incorporating a large number of shell companies with Chinese links in India.
Y Venugopal Reddy, currently executive director of International Monetary Fund will be the new Governor of Reserve Bank of India, succeeding Bimal Jalan.
Modi campaigned on the issue of national security, which cannot be ensured without a strong economy.
Modi, after delivering his sixth straight address to the nation on Independence Day from the ramparts of the Red Fort in New Delhi, went into a brainstorming session with Sitharaman and all top officials in her ministry, sources privy to the development said. T
Adequate currency in circulation, temporary shortage to be tackled quickly, says FM
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
In a bid to support revival of sectors hit most by the Covid-19 pandemic, Reserve Bank of India on Friday decided to open a separate liquidity window of Rs 15,000 crore for certain contact-intensive sectors like hotels and restaurants, tourism and aviation ancillary services.
From the Sensex firms, Tech Mahindra, NTPC, Tata Steel, Maruti, Infosys, Power Grid, Larsen & Toubro, Axis Bank, Titan, Reliance Industries, Wipro and Mahindra & Mahindra were the biggest gainers. Sun Pharma, UltraTech Cement, Tata Motors, Kotak Mahindra Bank, Bajaj Finance, State Bank of India and Nestle were among the laggards.
Earlier, the Reserve Bank of India was the approving authority.
RBI governor does not want to move in haste for achieving financial inclusion.
Sector-wise, banking, IT, pharma and realty indices drove the market momentum.
The Reserve Bank of India on Monday directed all banks and financial institutions to provide information and documents sought by the Special Investigation Team (SIT) set up to unearth black money.
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