Business activity contracted in Q2 FY20, the first contraction since 2013-14 and the second since the 2008 global financial crisis, report, Abhishek Waghmare and Anup Roy.
Singh brothers might be stopped by 'fit & proper' hurdle due to US drug norm violations; firm says confident of qualifying.
Populism gains momentum during election periods, and this trend is evident in at least four states: Telangana, Rajasthan, Madhya Pradesh and Chhattisgarh.
The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years.
Many bankers say the move will have a serious impact on the chain of command of nationalised banks and that it would only enable the government to dish out favours to a few of their own men.
The 30-share Sensex ended up 292 points at 29,571 and the 50-share Nifty closed up 75 points at 8,910.
A fierce competition among parties to offer freebies and guarantees, a scramble for tribal, OBC, women votes and a touch of Hindutva -- all have combined to make the Madhya Pradesh assembly polls a high-stakes battle with main rivals BJP and the Congress pulling out all the stops to gain power.
The reform priorities are clear: enhance savings, improve productivity. Just 25 basis points of moving interest rate up or down would not boost investment: Former RBI Governor Y V Reddy.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
Move to shift powers from RBI without discussions baffles many
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
Ramesh Vangal and foreign investors backing him have decided to exit the Nadar community-controlled Tamilnad Mercantile Bank (TMB).
Rangarajan says there was no need to change the inflation comfort level from four-five per cent.
New notes bearing signature of former Governor D Subbarao are legal tender and the process of changing signature is underway
The Damodaran committee appointed by the Reserve Bank of India (RBI) to revisit the issue of banks' customer services is likely to recommend capping on service charges to small borrowers or vulnerable sections of society.
The idea is to boost household savings and turn more of them into growth capital. If the plan succeeds, sustained eight per cent-plus rates of gross domestic product growth should be within reach in a few years.
Sharp increase is a major departure from those during former chairman O P Bhatt's regime.
Market leaders in this line of business - New India Assurance and Tata AIG - have begun to reassess the premium on risk exposure of their portfolio in the director's and officer's liability business.
In an interaction with former Congress chief Rahul Gandhi on the impact of lockdown on India's economy, Rajiv Bajaj, MD, Bajaj Auto, said India tried to implement a hard lockdown which was still porous and ended up with the worst of both worlds.
Reconstruction efforts after the Russia-Ukraine war will be dominated by the heft of the membership of major nations across international organisations. India is hamstrung because it does not play host to any major global institution nor does it hold positions of significant influence in the ones in which it has membership. As a result, the world's sixth largest economy is obliged to follow the rules set by most of them.
The venture is applying to the Reserve Bank of India for approvals.
Never before has the need for creating an ambience for economic policy reforms been as critical as it is now, points out A K Bhattacharya.
The bond, which the Reserve Bank of India started issuing on behalf of the Union government in 2003, was considered one of the safest savings instruments for retail investors.
Reversing the burden of evidence means that the principle of innocent until proven guilty does not apply. It is exactly the opposite: Guilty as charged, until you can convince the judges of the contrary, points out Shekhar Gupta.
Discussions are on in government about how to make the process simpler for the poor and more cost-effective for telecom operators, says Subhomoy Bhattacharjee.
The party's research department team, which Rajya Sabha member M V Rajeev Gowda heads, has sifted through the suggestions received in the last five months, and the manifesto is slated to be released later this month, reports Archis Mohan.
Among the assets in question include the Force India and Indian Empress super-yacht - which was fitted with an Elton John piano around 2015, a fleet of high-value cars and some artwork from Mallya's Ladywalk property in the English village of Tewin in Hertfordshire.
'Credit expansion is probably the quickest way to get the economy going again.' 'Easy credit is like a shot of nitro in a race car: In timely, small, quick, doses it can give a tremendous boost but carried to extreme it can destroy the engine,' points out S Muralidharan, former managing director, BNP Paribas.
Central bank sees action as discriminatory, unfair
From social engineering to bearing the cost of COVID-19 treatment to financial reconstruction of Tamil Nadu's debt the debutant chief minister is emerging as a leader with a difference, says Shjne Jacob
Patel, 55, who took over as the 24th Governor of the central bank on September 5, 2016, had the shortest tenure since 1992.
'Hacking of an ID or an account will have the same impact on a user in a city and one in a small town.' 'Security is like a railroad, you create it to last for every customer.'
If indeed we want the board to manage the RBI, probably the government should take a close look at the US Federal Reserve system which has a two-part structure - a central authority in Washington, DC, and a decentralised network of 12 Federal Reserve Banks located throughout the country, says Tamal Bandyopadhyay.
'We can go somewhere between 35 per cent and 40 per cent.'
It is not much of an issue just now, but it could become one if the idea of caste census captures socio-political imagination, going beyond electoral tags and identities, says N Sathiya Moorthy.
A yellow glow is likely to stand out amid grey geopolitical clouds in 2023, with gold price projected to touch Rs 60,000 per 10 grams in the Indian market as more investors veer towards safe-haven assets. In a year where volatility was more a norm than an exception, gold prices in the international market oscillated from a peak of $2,070 per ounce in March to a low of $1,616 per ounce in November and is steadily recovering since then, according to market experts. At the beginning of 2022, gold prices were around $1,800 an ounce.
'Unless she joins one of the coalitions, she has a bleak future.' 'The NDA option is suicidal, but INDIA could help her.'
Property buyers fund the project cost and the entire debt and entire equity servicing, and yet, have no locus standi in the IBC process, points out Debashis Basu.
The talk of governance reforms at public-sector banks seems to remain on paper, as a majority of them continue to be working with just a handful board members. Half of the board seat at these banks have been vacant. Ten of the 12 public-sector banks, even large ones like Punjab National Bank, Canara Bank and Union Bank of India - all except State Bank of India (SBI) and Bank of Baroda - don't even have a chairman. In 2014, while splitting the post of chairman & managing director (CMD), the government had decided to appoint non-executive chairmen at these banks. SBI, which has an executive chairman and four managing directors, was an exception.
While the total disbursement of housing loans by PSBs as well as HFCs witnessed a deceleration in 2016-17, there was significant growth for the lower slabs
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