The government kept its nerve in the face of a massive shock. It chose not to resort to a massive fiscal stimulus. It focused instead on providing liquidity support and easing restrictions on movement in stages, observes T T Ram Mohan.
"Cash is still quite high in the system. There is also stocking of Rs 2,000 notes in evidence. The expansion of digital payments is taking place all over the world. It is happening in India as well. The pace is much slower," S C Garg, who took VRS from government service after he was abruptly shifted out of the finance ministry, said in a note.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
'Normally, the system is geared towards counting notes -- it is equipped to do x amount of work and one day you are asking them to do 20 x.' 'The processes involved are very complex.'
A Bank Investment Company to act as a holding company for state-owned banks would go a long way in minimising government interference and improving governance.
Rajan's departure from the RBI is an end to 'outside interference' in policy making, government insiders feel.
Banerjee supported 'Nyay' (poverty alleviation scheme of Congress) and people of India rejected his ideology, the BJP leader said.
From FY18, Ind-AS will be mandatory for all listed entities, barring those listed on the SME platform.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
'We will win all the 28 Lok Sabha seats in 2024.'
"I am an academic and I have always made it clear that my ultimate home is in the realm of ideas," Rajan said in a letter to staff.
We may now be experiencing the darker side of the massive monetary stimulus of past years, said Rajan.
Since end-May there has been volatility in the foreign exchange market.
Announcing her appointment, IMF Managing Director Christine Lagarde hailed the Mysore-born Gopinath as "one of the world's outstanding economists with impeccable academic credentials, a proven track record of intellectual leadership and extensive international experience".
The RBI's mistake may have been in interpreting its mandate to maintain retail inflation at 4%, with 2% leeway in either direction, as being a mandate that permitted it to do nothing even when inflation was at or near the upper bound of 6%, observes T N Ninan.
A number of listed companies are not to be found on their registered address. The stock exchange has also been unable to contact them through other means. These 50 companies had been suspended for violations for more than six months. The BSE had reached out to them with show cause notices in December 2020.
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
While the situation Sitharaman finds herself in may not be that good, how does it stack up against her three immediate predecessors Pranab Mukherjee, P Chidambaram and the late Arun Jaitley?
'There are some castes that grab power, then pass on the benefits to those who belong to their own caste.'
Kingfisher Airlines owed Indian banks Rs 7,000 crore as of January.
Reserve Bank of India (RBI) governor Raghuram Rajan says global markets are at risk of a "crash" should investors start bailing out of risky assets created by the loose monetary policies of developed economies.
Upcoming payment banks will lift lower income groups in distant villages.
Gokarn was the first Indian central banker who regularised warnings to the government, through the monetary policy statement, on the need to reduce fiscal deficit.
'A balanced head plus heart approach would be a full opening up of the economy including manufacturing and internal travel in the country but excluding COVID-19 hotspots,' recommends Jaimini Bhagwati.
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
Aakar Patel looks forward to Prime Minister Modi's speech at the bhoomi pujan for the Ram temple in Ayodhya next week. It will be entertaining and stirring, predicts Aakar, and make lots of promises that he most likely won't be able to keep.
Going by its past experience of differences between the central bank and the finance ministry, the government might prefer a person who could bridge this gap.
The interest money which is not claimed by people due to religious obligations is kept in suspended bank accounts.
There has been criticism of the official statistics ever since MoSPI came out with new methodology to estimate the GDP on the base year of 2011-12 compared to earlier 2004-05.
Sonia Gandhi hit out at the BJP for being determined to destroy constitutional values.
Advocate Abbad Ponda, his lawyer, said a person with low immunity is easily susceptible to catching coronavirus.
There are indications or signs of the economy picking up -- collection of GST and consumption of electricity, said former RBI governor, C Rangarajan.
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.
Raghuram Rajan joked he wasn't expecting to win any votes or Facebook 'likes' in the position.
Not only were Urjit and Rajan outsiders, they also hired laterally, bypassing the existing talent, especially in the field of economics
The board of Zee Telefilms Ltd has recommended 55 per cent dividend for the financial year 2002-03 involving a total payout of about Rs 23 crore (Rs 230 million).
Indications are that Reddy will take charge as RBI Governor after the annual meeting of the IMF slated in late September.\n\n
'What do the moves towards protectionism suggest?' 'That we do not have Aatmavishwas.' 'If you have self-confidence, confidence in your ability to compete with the best in the world, why do you need protectionism?'
Reserve Bank of India Deputy Governor Viral Acharya is the eighth economist to quit since the Modi government took office.
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