Reserve Bank Governor Shaktikanta Das on Wednesday said the country is at the doorstep of economic revival on the back of accommodative monetary and fiscal policies being pursued by the central bank and the government.
Indians' belief in the country's economic future has diminished in the recent years, with the COVID-19 pandemic taking a further toll on sentiment while pushing many middle-class citizens into poverty, former RBI governor Raghuram Rajan has said. Virtually addressing an event organised by the NALSAR University of Law, Rajan further said the domestic stock market is booming but that does not reflect the reality that many Indians are in deep distress.
Maharashtra and West Bengal lead the way in bank fraud.
"The nakli Shiv Sena wants to bury me alive. They abuse me in such a way that it will be liked by their favourite vote bank," Modi said.
Disgruntled executives are already pinning hopes on the new banks, too.
The combined entity is set to be the third largest bank in India, behind State Bank of India and ICICI Bank.
A committee headed by Patel recommended retail inflation targeting and a monetary policy committee.
Such a course would require a Constitutional Amendment, requiring a two-thirds majority in both Houses of Parliament. Even assuming that the INDIA combine comes to power at the Centre next year, a two-thirds majority in the Lok Sabha could way off the mark for them, observes N Sathiya Moorthy.
Reserve Bank Deputy Governor Michael Patra on Wednesday said the central bank's views about cryptocurrencies might have delayed the government's proposed legislation on crypto assets. Emphasising that the Central Bank Digital Currency (CBDC) will be introduced in FY23 as announced by Finance Minister Nirmala Sitharaman in the Budget speech, Patra said India will proceed very gradually on the subject as there are concerns on privacy, its impact on monetary policy formulation and energy intensity. The government had plans to introduce a bill on cryptocurrencies like Bitcoin during the Winter Session of Parliament in November-December 2021 but did not introduce it.
How can you access the bank account of an incapacitated person?
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
The former Union minister joined the UPA after holding talks with the Congress leadership.
Payments banks are niche banks which will be allowed to function with several restrictions.
The RJD has fielded six women candidates, some of them are wives of bahubalis.
Financial institutions are 300 times more vulnerable to cyberattacks than any other industry.
Arvind Subramanian was appointed CEA in October 2014 and got a year's extension in September 2017
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Reliance, Birla Group, Airtel eye small finance banks.
Subbarao said, short-term as well as medium-term prospects or Indian economy continue to be grim. Fiscal deficit is going to be much higher, the debt burden much larger and the financial sector will be in a worse shape.
Recent tribunal rulings open prospects of large haircuts and barriers to auctioning of personal guarantees, among other issues
The RBI has been critical of banks for using restructuring schemes to hide the stress.
The evolving RBI-government relationship, a reversal in the interest rate cycle and return to profitability will dominate bankers' conversation this year, says Tamal Bandyopadhyay.
The Supreme Court in a 4:1 majority verdict upheld the government's 2016 decision to demonetise Rs 1,000 and Rs 500 denomination notes, saying the decision-making process was not flawed.
The need to allow government shareholding in public sector banks to come down below 51 per cent
Bangladesh is in turmoil, which is not good news for India, which shares a porous 4000 km border with it. There is a danger of fundamentalism growing there, and India has to move in to reset its ties with the new dispensation before China and Pakistan make capital out of it, alerts Ramesh Menon.
The panel's report, made public on Thursday, has suggested stringent norms to make loan pricing more transparent.
Senior bankers are trying to impress upon the central bank that the shift to external benchmark-linked lending be postponed to April 1, 2020.
Currently, the fee is Rs 15 per financial transaction. This has been recommended to be revised to Rs 16.50, plus service tax (12%), taking the amount to Rs 18.48.
The report said that "we believe, institutions are more important than individuals" and ultimately what is important is the credibility and the independence of any institution and nothing else.
India's wholesale price-based inflation is at a 30-year high, leading to a "very alarming" situation for the country, former World Bank chief economist Kaushik Basu said on Thursday. He, however, doesn't see any risk of hyperinflation, but cautioned that if retail inflation follows wholesale prices, it might lead to "inflationary crisis". Participating in a virtual event organised by the Asia Society, India, Basu said the inflationary situation in India is at a "very risky bend".
The stakes are significant for the BJP in this round as the party had in 2019 won an overwhelming majority of these seats, including all in Gujarat, Chhattisgarh, Bihar and Madhya Pradesh, that will go to polls on May 7.
As the clean-up has taken hold, loan growth slipped to 10.7 per cent in the last fiscal
Licence winners are expected to be announced by the first quarter of 2014.
RBI Governor Raghuram Rajan wanted to improve training for staff, through initiatives such as sending them to other central banks for short stints.
With the July 1 deadline to apply for bank licence fast approaching, aspirants are scrambling to meet the Reserve Bank of India's (RBI) eligibility criteria to apply.
In a proposal to FinMin, the Banks Board Bureau suggests asset sales to PSUs within a deadline to recover bad loans.
We must stop stigmatising business failures. Particularly when startups are mushrooming all around, the financial system, backed by the RBI and the government, can explore ways of extending support to restart the journey of a failed entrepreneur by finance as well as counselling, recommends Tamal Bandyopadhyay.
'They fear their caste privilege will be exposed if there is an OBC caste census.'
From zeroing in on the best means for stake dilution to moving beyond microfinance, Bandhan navigates a tough path. Namrata Acharya reports.
'In equities, it has diversified portfolios.' 'So the short-term movement of individual stocks does not impact them.'
Rajan has a great track record abroad.
