The Reserve Bank of India, in its Second Bi-Monthly Monetary Policy Statement for 2014-15, kept the key interest rate unchanged at 8 per cent.
Traditionally, Prime Minister picks the RBI Governor after consultation with the finance minister.
RBI has announced a 50 bpc rate cut, India Inc cheers the move.
Rajasthan is all set to vote on Saturday to elect members of a new assembly with the Bharatiya Janata Party aiming to unseat the ruling Congress, which is fighting hard to change the trend of alternate governments in the state.
'If she contests it, then these people will have to fight it in court.'
Rakesh Mohan, one of India's former senior-most economic policy makers, says the public sector offers a challenging and fulfilling career and the country's young professionals must mull over joining such services rather than solely focused on lucrative jobs in non-government fields.
Indian banks might meet the Reserve Bank of India's projection of an 18 per cent growth in credit, K V Kamath, chairman of the country's second largest lender ICICI Bank said in Mumbai on Tuesday.
The offer is to close on April 26 and the price is fixed at Rs 1,440 a share.
Raghuram Rajan, a former chief economist at the International Monetary Fund, takes charge at the RBI as the country faces its worst economic crunch since a balance of payments crisis two decades ago.
Dr Mohan will be representing India along with Bangladesh, Bhutan and Sri Lanka on the 24-member Executive Board of the IMF.
The RBI governor, who made a presentation about the state of the economy as well about the world economy to the 31-member Parliamentary Standing Committee on Finance, stayed clear of controversial questions like government invoking special powers.
'People in politics have lost the value of being connected to their own people.' 'Now it's all about vote share, vote bank, how many parties can you break and make them join you.'
India builds up record FX after Fed hints rate hike in future.
Subbarao, who was the Finance Secretary from April 2007 to September 2008, is a key witness in the case in which former Telecom Minister A Raja and others are facing trial.
If Tamil Nadu voters preferred the DMK combine, it owed to the Modi-Annamalai combo's ideological battle which often crossed the line of political decency and also challenged 'Tamil pride', argues N Sathiya Moorthy.
Rajan, 57, who was RBI governor for three years until September 2016, is currently working as a professor at the prestigious University of Chicago.
The meeting will be attended by all heads and EDs of public sector banks
The state's revenue receipts might not afford various freebies announced by the parties, unless revenue deficit and hence fiscal deficit is widened.
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
He was the financial secretary when the 2G licences were allocated.
PAC summons RBI Governor Urjit Patel, Finance Secretary Ashok Lavasa and Economic Affairs Secretary Shaktikanta Das.
The gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore
Former RBI governor Raghuram Rajan, who faced a stinging attack from Finance Minister Nirmala Sitharaman for presiding over the "worst phase" of the Indian banking sector, on Thursday reminded her that two-third of his tenure as the head of the central bank was under the Bharatiya Janata Party government.
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.
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.
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.
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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'.
'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'
The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
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.
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.
'Those who come from outside are surprised at the relatively small strength of the RBI supervisory cadre, relative to the needs of the country and the needs of the financial sector.'
'Three external members of the first MPC are respected researchers with excellent academic background, but there is no harm in considering academicians with diverse backgrounds such as finance and labour along with economists for this body,' recommends Tamal Bandyopadhyay.
'We can go somewhere between 35 per cent and 40 per cent.'
The Sensex closed higher by 170 points at 26,128 and the Nifty rose 59 points to end at 7,943.
Given the pressure from India Inc and the banking fraternity, it is surmised that the portfolio rejig will take place before April.
