He was the financial secretary when the 2G licences were allocated.
The meeting will be attended by all heads and EDs of public sector banks
Barring stray references such as the 'dual control' of banks and shifting the goalposts during demonetisation, he is not in a fault-finding mode with the government, notes Tamal Bandyopadhyay.
Economists praise Das for his pragmatism and willingness to face challenges head on. And in doing so with the finesse of an able administrator.
Given the pressure from India Inc and the banking fraternity, it is surmised that the portfolio rejig will take place before April.
Sale of dollars directly by the RBI can help but only temporarily for a day or two before it will be back to a volatile market.
Religion matters. Aspirational India is still poor. India admires strong leaders. India values decency. Shreekant Sambrani highlights the reasons why the BJP pulled off improbable victories in the Hindi heartland.
Rajan said that while there were talks about Jan Dhan, it was difficult to target transfers to people through this tool. Jan Dhan, he said, does not really work as advertised.
The MPC headed by RBI Governor Shaktikanta Das will announce the resolution of the meeting at around noon on Thursday.
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
On the present government's 'Make in India' campaign, C Rangarajan, former chairman of the Prime Minister's Economic Advisory Council, says it is important to first ask for whom it is being made.
'The governor does enjoy a certain amount of recognition in the public and if he is able to communicate on some of those larger issues using the gravitas of his office, I think his contribution to the larger public will be great'
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The Keynesian advice comes after Finance Minister P Chidambaram has said he considers the fiscal deficit at 4.8 per cent of gross domestic product in 2013-14 as a 'red line'.
If net forex outflows turn out to be relatively high in the next few years, the rupee could depreciate beyond Rs 80 to a dollar by 2022. The causal reasons could, for example, include unmet expectations of FPI and FDI investors about the performance of the Indian economy, sharp rise in prices of imported oil and decrease in FX remittances. The RBI has to ask itself whether guaranteeing future rupee-dollar exchange rates on FX forward contracts is a reasonable way to use its risk-bearing capacity, says Jaimini Bhagwati.
C Rangarajan, former governor of Reserve Bank of India, was speaking on the topic `the growth path and some concernson the way' at a function at Federation of Gujarat Industries on Monday.
With auditing under the scanner and two of the Big Four firms stopping non-audit services for audit clients, auditors will now be subjected to a more stringent standard of reporting.
The Sensex closed higher by 170 points at 26,128 and the Nifty rose 59 points to end at 7,943.
Mohan has been appointed as the Professor in the Practice of International Economics and Finance in the Yale School of Management, and as Senior Fellow in the Jackson Institute for Global Affairs at Yale University; Yale University President Richard C Levin said in a statement on Friday.
According to Subbarao, the pressure on the currency was inevitable.
The Reserve Bank of India has admitted that security features introduced in the higher denomination notes in 2005 as an anti-counterfeiting measure have been breached!
The ministry of corporate affairs (MCA) has launched a probe into the books of Edelweiss Asset Reconstruction Company (EARC) following allegations by a whistleblower of fund diversion and irregularities. The whistleblower, Paras Kuhad, a former additional solicitor general of India, had written to the Prime Minister's Office and the Reserve Bank of India (RBI). Kuhad has alleged that Edelweiss Group and Caisse de depot et placement du Qubec (CDPQ), a Canadian institutional investor, which hold stakes in the ARC, diverted funds and did not adhere to norms while making investments in EARC's instruments. Sources have indicated that a probe has been initiated, but the MCA did not comment on the issue.
New ministry will bring much-needed transparency in the functioning of the cooperatives, which so far have been riddled with allegations of political interference and mismanagement.
The Reserve Bank of India, which is scheduled to review the monetary policy on October 30, should not do anything that might make the economic fundamentals of the country uncomfortable, former RBI governor Bimal Jalan said on Tuesday. The central bank is facing a tough task of keeping the economic growth going while keeping inflationary pressures under control.
With organisations like the Bharatiya Mazdoor Sangh, which is a front of the Rashtriya Swayamsevak Sangh, telling Finance Minister Nirmala Sitharaman they want OPS back, the government is in a bind, report Shiva Rajora and Aditi Phadnis.
'Russia has got inherent military strength, they have a very good military equipment manufacturing infrastructure and by and large they are self-sufficient in their production capabilities'
The Parliamentary Standing Committee on Finance's meeting comes against the backdrop of CBI probing the Saradha scam in which thousands of crores or rupees of gullible investors were allegedly swindled.
'Investors hate uncertainty and the demonetisation move certainly creates that.'
A list of 25 companies that are suspected to be operating bogus demat accounts has been handed over to market regulator SEBI by Investor Grievance Forum demanding a probe into their operations.
The main difference of opinion between RBI and FinMin is over the transfer of the RBI's 'excess' capital reserves. The Jalan panel seeks to convince finance secretary Subhash Garg to soften his dissent note language. The move is aimed at maintaining the now-cordial relations between the RBI and the finance ministry.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
'At the first board meeting I chaired, I sensed that corporate governance is an issue in this company.' 'I started taking steps that may have aggrieved a few.' 'This has now become a mission I intend to accomplish before I step down.'
Raghuram Rajan's three-year term is the shortest of any G20 country and the recent governors have been given second terms as much as seven months in advance.
The Supreme Court (SC) on Monday slapped a fine of Rs 2000 ($25) and a four-month jail sentence on fugitive businessman Vijay Mallya. In addition, the former liquor baron has been asked to deposit $40 million with 8 per cent interest within a month, failing which his properties would be attached to recover the amount. The court held Mallya guilty of contempt after it was brought to its notice that he had transferred $40 million to his children in the US.
Ironically, bad loans and non-performing assets are on the rise in public sector banks in India, say sector watchers.
The ever-astute Ravi Matthai, Director of Indian Institute of Management, Ahmedabad in 1971, offered me a basic salary of Rs 1,000 per month on my return from the United States. I doubt if IIMA could hire a faculty member at Rs 55,000 per month today! points out Dr Shreekant Sambrani.
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