The new scheme may be announced before the Lok Sabha elections.
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.
Modi campaigned on the issue of national security, which cannot be ensured without a strong economy.
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.
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
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.
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.
Last year, the Survey suggested a long list of reforms, but most of these found no place in the Budget.
Economic Affairs Secretary Subhash Garg is the finance ministry's primary liaison with the RBI.
RBI depty governor Subir Gokarn stopped short of giving a new estimate, saying the recovery was mainly driven by government spending and it was premature to forecast without knowing the impact of the monsoon on the third quarter figures.
It was a protest which held a mirror to the government of a state taking pride in its commitment to democracy, gender equality and social indices.One person, who in his employed days had known governments and political parties at close quarters, told me that public perception of how the Kerala government handled the ASHA workers' strike had been terrible, reports Shyam G Menon.
Alarmed over the menace of the fake Indian currency notes spreading its tentacles in India, the government has issued a directive to the Reserve Bank of India to withdraw from circulation the notes of 1996 and 2000 series.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
Rajan said the central bank has used up all its "space available" to cut interest rates
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.
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.
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.
Implementing two simple policies - registration, not licensing, of foreign portfolio investors, and reduction of interest rates - will make capital inflows non-copious.
A crucial meet of the Reserve Bank's central board is underway amid a rift between the central bank and the government over future course of policies. Expectations of a positive outcome boosted market mood after the meeting began.
Focus to be on unbanked areas; initial capital is set at Rs 100 crore; India Post can apply.
Adequate currency in circulation, temporary shortage to be tackled quickly, says FM
Y Venugopal Reddy, currently executive director of International Monetary Fund will be the new Governor of Reserve Bank of India, succeeding Bimal Jalan.
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.
Over the last two weeks, the RBI has lifted short-term rates to help support the currency
The Bharatiya Janata Party rejected this was any sort of demonetisation and instead reminded the Congress that even during the rule of Manmohan Singh, old currency notes were taken off circulation.
He will be the first bureaucrat to head the central bank in almost five years.
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.
Sebi Chairman U K Sinha has often chastised listed companies for not having enough women on their boards.
Sector-wise, banking, IT, pharma and realty indices drove the market momentum.
The central bank's move comes against the backdrop of the government efforts to crackdown on entities, that are illegally raising large amounts of money from the public.
RBI governor does not want to move in haste for achieving financial inclusion.
They have also called for giving cash to the poor, so that demand is generated in the economy.
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