Rajan has a great track record abroad.
Bankers and economists agree rates will soften, though the quantum would depend on banks' asset-liability profile
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Maharashtra Congress accused the govt of being biased against the state, and claimed that it was planning to reduce the importance of Mumbai as the financial capital.
Rajasthan is reeling under a huge financial burden with the state's debt having gone beyond Rs 5.59 lakh crores. Rajasthan has increased expenditure on education by 203.4 percent, by 105.4 percent on health, by 227.14 percent on housing. Its expenditure on social welfare schemes has increased by almost 2,475 per cent.
The government can also individually exempt the PSBs, that are to be privatisated from the two Bank Nationalisation Acts. This will bring such lenders under Banking Regulation Act, and make them companies, reports Nikunj Ohri.
'She was either overconfident that nothing will happen to her or she underestimated the gravity of the allegations.'
The judiciary, the police, the lawyers and the public will have to know the new laws. It will also endanger settled jurisprudence on the old laws and open up all sorts of minor and major problems that currently do not exist. Whose then was asking for the change? Not the judges or police or lawyers or citizens, points out Aakar Patel.
Loans make money for the lender in the initial years but losses come later when they turn bad.
The WEF meeting is crucial because of its theme encompassing globalisation at the time of rising nationalism and trade war, and the fourth industrial revolution due to rapid strides being made in robotics and artificial intelligence.
India's Right-wing has sought to own our democracy by making itself appear the stuff of majority, and sometimes, a national ethos older than the Constitution on which our democracy is based, argues Shyam G Menon.
'Rather than experimenting with CBDCs, we must come up with a very simple and straight design.' 'Dematerialise your currency/cash and with that dematerialised rupee allow all the transactions digitally.'
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
When a former police constable was appointed Gujarat unit chief, everyone was surprised. Now workers are laying bets on when he will be elevated to the Union Cabinet, notes Aditi Phadnis.
The employment situation remains dire. Whatever can be done to promote greater low-skill employment should be pursued aggressively, advises former chief economic adviser Shankar Acharya.
Former Banque de France head Jacques de Larosire was given the Lifetime Achievement Award for his lengthy struggle for monetary order, the magazine said in a statement on Monday.
June was a memorable month for the 101-year-old Tamilnad Mercantile Bank (TMB). Last month, the Thoothukudi-based bank witnessed two new landmarks in a history in which the last three decades could easily qualify for a Kollywood blockbuster.
This is a good opportunity for long-term investors to pick quality small and midcap stocks at reasonable valuations.
The Palaniswami government is expected to utilise the Rangarajan Committee's recommendations before the 2021 assembly election.
Singh brothers might be stopped by 'fit & proper' hurdle due to US drug norm violations; firm says confident of qualifying.
No government can 'ignore inclusiveness in a democracy', Montek Singh Ahluwalia tells Anjuli Bhargava.
When it comes to running between the wickets -- which is exactly what an FM and a governor do -- Jadeja always defers to Dhoni's larger judgement of the situation and the needs of the team, observes T C A Srinivasa-Raghavan.
Kenneth Rogoff, professor of public policy and economics at the Harvard University, tells Dilasha Seth on the sidelines of the Delhi Economics Conclave that public sector banks will need to take a one-time haircut to address non-performing assets.
While IDBI Bank's 140 million customers and 1800-odd branches will come in handy for LIC to hawk insurance, the bank can use LIC's massive agent network to sell its retail loans. But if it is run the same way it had been in the past and LIC is a proxy of the government, then it has no future, says Tamal Bandyopadhyay.
In his book, former governor Subbarao says Chidambaram, Pranab were piqued by his tight rate policy.
'These are only passing clouds. The banking industry is a century-old industry and this is not the first time it is going through such a crisis.' 'When the economy revives, those companies that are in the infrastructure fields will also get revived.' 'After all, a lot of money has gone into creating assets like power projects and roads, so you can't say money has been wasted.'
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.
An official said that people in the government were aware of the benefits as well as the drawbacks of issuing overseas sovereign bonds, and there will be consultations with all stakeholders.
"We did not abuse RBI governors," says Chidambaram.
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Banking as we know it will stand on its head in the next 10 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.
'It is the first-time voters and the agnostics who are often influenced by political advertising.' 'These swing voters tend to make a huge difference in the outcome of any election.'
Former RBI governor Raghuram Rajan on Monday said the central bank will have to raise interest rates to tame inflation and the hikes need not be considered by politicians and bureaucrats as some "anti-national" activity. Known for his frank views, Rajan also said it was important to remember that the "war against inflation" is never over. "Inflation is up in India. At some point, the RBI will have to raise rates, like the rest of the world is doing," he said in a LinkedIn post.
A few days back, Finance Minister Nirmala Sitharaman urged the start-up community and public to deal in cryptocurrency with caution because everything that was floating around was not currency. In the first week of August, the country's top nine crypto exchange platforms were summoned by the Directorate of Enforcement (ED) in Hyderabad. The exchanges were questioned for money laundering, especially over a number of Indian non-banking financial companies and their fintech partners for predatory lending practices in violation of the Reserve Bank of India (RBI) guidelines and by using tele-callers who misuse personal data and use abusive language to extort high interest rates from the loan takers.
Interview with former Reserve Bank of India governor by Duvvuri Subbarao.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
Long jumper Murali Sreeshankar on Sunday 'voluntarily' gave dope sample to the NADA officials after producing a big leap of 8.41m to qualify for the upcoming World Championships so that 'nobody points any finger of suspicion'.
Free speech is the soul of a great university. By compromising on it, the founders have bartered away its soul, said Rajan.
Move to shift powers from RBI without discussions baffles many
