'The temptation of governments, to have a finger in the RBI pie will be just too great to resist, unless extensive amendments are carried out in the RBI Act treating it almost as the fourth branch of the government.'
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
Subrata Roy is in jail since March last year.
The Supreme Court on Wednesday said that the money likely to be arranged by Sahara Group from overseas to raise Rs 10,000 crore (Rs 100 billion) for the release of its jailed chief Subrato Roy would come into the country only after necessary clearances by RBI.
It is high time to manoeuvre the rupee more effectively and predictably, even as it has to be recognised that such tweaking of the rupee needs to be accompanied by reforms to the real sector and factor markets.
In 2012-13, the Centre managed to cut fiscal deficit to 4.9% of GDP, lower than the Budget revised estimates of 5.2%
Economist S Janakarajan, in an interview to Shobha Warrier/Rediff.com warns that without proper infrastructure, India will never be able to build a market economy.
These businessmen represent the top five firms that have taken loans from the crisis-hit Yes Bank and these debts were either in the red or were stressed, officials said.
Are we running a cricket match using football rules, asks Ajit Balakrishnan.
Stating that a weak fiscal position continues to constrain India's sovereign ratings, Fitch said the next government's medium-term fiscal policy will be of particular importance from a rating perspective.
The Reserve Bank of India on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy faces heat of the second Covid wave.
Pilot says that the Congress is demanding that the Rajasthan CM be booked for criminal culpability.
CBI officials, who questioned former RBI deputy governor H R Khan on Friday, wanted to understand from him why the gold scheme was rushed through without taking into the account the impact and potential misuse.
'India's economic fundamentals are much too strong to be affected by his resignation,' says B S Raghavan.
'Make every trip feel like an escape' says the Uber website. Ironically, it remains to be seen how the company can get away from this controversy.
The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
The GIFT City management is in talks with Hong Kong, London, and Singapore arbitration centres
The Taliban knows that Washington holds the key, points out Ambassador M K Bhadrakumar.
Experts say the new guideline is likely to hurt foreign players more, especially card companies such as Visa, MasterCard and American Express who process and store credit card transaction data outside of India.
China said on Monday that no 'exclusive cliques' should be formed as it accused some countries of trying to 'drive a wedge' among regional nations citing the 'China threat' and asserted that they will 'end up nowhere'.
Citing national security and confidentiality clauses, the Finance Ministry has declined to disclose information on exchange of correspondence among India, Swiss and German authorities in connection with the black money probe.
The proposed move to withdraw the DDT would help encourage investments by addressing multiple taxation of income and bringing down the effective tax rate on companies, which is among the highest in the world.
Mallya has lived on the edge for long enough to know that his extradition from UK is not a given, says N Sundaresha Subramanian.
The regulator last week reached out to custodians for beneficial ownership information of investors coming from China, Hong Kong, and 11 other countries.
The RBI left key policy rates unchanged and cut the GDP growth estimate for this fiscal to 5.5 per cent from 5.7 per cent.
The controversy over Sant Rampal and his army of followers taking the law into their hands has once again thrown the spotlight on the clout that India's godmen possess.
The threshold for identification of BOs of FPIs on controlling ownership interest is 25 per cent in case of companies and 15 per cent in case of partnership firms
From smart cities to gold, the fallout of the Chinese meltdown will have far-reaching consequences
'For years, the RBI has been warning banks on probable frauds in bank guarantees and advised them to exercise due care.' 'PSB staffers feel their jobs are secured, hence there is no need to be vigilant and exercise financial prudence.'
The US has been widely criticised for using pressure tactics to secure information from other countries, without reciprocity.
US SEC order says that Cadbury India paid an agent a total of USD 90,666 (Rs 61.70 lakh) for "providing consultation, arrange statutory/government prescribed formats of applications to be filed for various statutory clearances, documentation, preparation of files and the submission of the same with government authorities," for specific licences.
Welcoming Jaishankar, Foreign Minister Wang referred to the Indo-Pak tensions without directly mentioning about India scrapping the Article 370 of the Constitution that gave special status to Jammu and Kashmir.
Stock to watch: Shipping Corporation and Great Eastern Shipping
The Street is never short of hope and events to look forward to
'If the situation escalates, then mini-scale firing might happen.'
When Taragauri Doshi's husband died, an assessing officer wanted to tax the proceeds from a life insurance policy that had been bought abroad. Homi Mistry, Mousami Nagarsenkar & Hiral Tanna explain why such proceeds are not taxable in India.
An eatery once owned by dreaded underworld don Dawood Ibrahim in South Mumbai besides his green sedan and tenancy rights to a property in suburban Matunga went under the hammer on Thursday, with a former journalist emerging as the top bidder at Rs 4.28 crore for the food joint notwithstanding a threat from the don's aide Chhota Shakeel.
Singapore is the favoured destination as it has traditionally had a stable fund management regime; also, its tax treaty with India is similar to that of Mauritius
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
