The Financial Inclusion Advisory Committee under RBI Deputy Governor K C Chakrabarty is expected to suggest appropriate regulatory framework to ensure that financial inclusion and financial stability move in tandem, the RBI said in a statement.
The University Grants Commission's (UGC) new regulations on promoting equity in higher education institutions have sparked protests and legal challenges. This article explains the regulations, the concerns raised, and the government's response.
India needs to increase the investment rate to 34-35 per cent from 31-32 per cent currently to achieve a growth rate of 7 per cent and above, said S Mahendra Dev, chairman, economic advisory council (EAC) to the Prime Minister, on Wednesday.
India Inc on Sunday hailed the Union Budget 2026-27 as a 'structural shift' in the country's technology landscape, noting that the government is moving beyond fragmented pilots to build foundational layers where AI serves as a 'horizontal enabler' for the entire economy.
Out of 3,871 recovery certificates issued by the regulator in various cases, 807 have been certified as difficult to recover.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
Raghuram Rajan has appointed him as head of several committees soon after taking charge.
RBI had received 72 applications for small finance bank licences.
Banks now ride on what is defined as a "banking outlet". This is a fixed-point service unit, manned by either the bank's staff or its business correspondent (BC), where all kinds of services - acceptance of deposits, encashment of cheques, cash withdrawal or lending of money - are provided for a minimum of four hours per day, for at least five days a week. Banks are now turning to reposition the manner in which they acquire customers, report Abhijit Lele and Raghu Mohan.
Social stock exchange (SSE) saw its first listing on Wednesday, with SGBS Unnati Foundation becoming the first entity to take this route to avail financing. The foundation - engaged in vocational training of youth - raised Rs 1.8 crore from four investors. These include brokerage firm Zerodha and National Bank for Agriculture and Rural Development (Nabard).
National Advisory Committee-pushed plan might be part of Budget 2013-14.
The committee on financial inclusion, headed by C Rangarajan, the chairman of Prime Minister's Economic Advisory Council, has recommended that the profits transferred to their reserves by such banks should be exempted from tax till the banks achieve the standard capital adequacy ratio (CAR).
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A rule change may make Nachiket Mor, among others, eligible to replace Chakrabarty.
The Sri Lankan government has appointed an advisory committee comprising eminent economic and fiscal experts to provide guidance on addressing the current debt crisis and engaging with the International Monetary Fund (IMF) and other lenders as the country struggles to combat the unprecedented shortage of foreign reserves.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
Criterion for corporates will effectively rule out entry for business houses.
Two key depts in ministry cold to rationale for one; postal dept says it's more eligible than IDFC or Bandhan, feels 'strong lobby' scuttling its plans.
Ginni Rometty, who is on Donald Trump's advisory committee, discusses the importance of an open workforce, work visas, and why India is a microcosm of all of IBM.
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.
India procured around 5 lakh rapid antibody test kits from the two Chinese firms, Guongzhou Wondfo Biotech and Livzon Diagnostics, and they were distributed to several states reporting rising cases of the coronavirus infection.
Four specific areas will be watched carefully in the first half of FY16
India has asked the UN Security Council to make mandatory provisions for prosecuting and neutralising armed groups that threaten to harm UN peacekeeping operations.
Five longtime Republicans -- K V Kumar, Puneet Ahluwalia, Suhail Khan, Ajay Kuntamukkala and Harry Walia -- have been named to the GOP's Asian Pacific American Advisory Council.
India's national security strategy needs to be revised periodically since the global and regional geopolitical situation is dynamic, points out Commodore Venugopal Menon (retd).
Attorney General Mukul Rohatgi's stand that AMU is not a minority university reveals the anti-minority stand of the political party now in power, says Mohammad Sajjad, outlining the long history behind one of India's premier universities.
