Indications are that Reddy will take charge as RBI Governor after the annual meeting of the IMF slated in late September.\n\n
Raghuram Rajan joked he wasn't expecting to win any votes or Facebook 'likes' in the position.
The interest money which is not claimed by people due to religious obligations is kept in suspended bank accounts.
'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.
Sonia Gandhi hit out at the BJP for being determined to destroy constitutional values.
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.
A surprise attack by Hamas militants from Gaza at daybreak killed at least 200 Israelis on Saturday even as Prime Minister Benjamin Netanyahu declared "war" and said his country would extract an "unprecedented price" from its enemy.
Not only were Urjit and Rajan outsiders, they also hired laterally, bypassing the existing talent, especially in the field of economics
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.
India's aggregate NPA as a percentage of GDP is far lower than that in Italy, Greece.
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.
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.
Nandan Nilekani complimented RBI on granting licenses to payments banks, calling it 'a great revolution'.
Advocate Abbad Ponda, his lawyer, said a person with low immunity is easily susceptible to catching coronavirus.
'We have to be prepared on the borders to withstand Chinese expansionist designs.'
Reserve Bank of India Deputy Governor Viral Acharya is the eighth economist to quit since the Modi government took office.
The finance ministry welcomed an inter-meeting rate cut by Reserve Bank of India (RBI) on Thursday, saying it reflected easing inflation concerns and vindicated the government's efforts to achieve economic growth without stoking inflation.
There are indications or signs of the economy picking up -- collection of GST and consumption of electricity, said former RBI governor, C Rangarajan.
Pawar asked Modi why he was daring Opposition leaders to bring back Article 370 of the Constitution after it was nullified by Parliament in August.
'Rajan brought in a healthy air of competition in the banking sector.'
Disagreeing with Reserve Bank's projection on the price situation, former RBI Governor and PM's Economic Advisory Council chairman C Rangarajan said WPI and CPI may not be as high as being projected by the central bank.
'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?'
A strong start-up ecosystem can propel investment, jobs, and demand creation, and for that, substantial growth capital is required.
'We will win all the 28 Lok Sabha seats in 2024.'
A two-year extension at the helm of the RBI still looks a real possibility
The former Union minister alleged that the government is "intolerant to the slightest criticism".
Chief Economic Advisor (CEA) K V Subramanian will be leaving the finance ministry and returning to academia on completion of his three-year term. The government had appointed Subramanian, an ISB Hyderabad professor, as the CEA in December 2018. He had succeeded Arvind Subramanian, who quit the position close to a year ahead of his extended tenure. Subramanian's three-year term would have come up for renewal in December but he decided to return to academia.
He said it will be 'foolhardy' to diminish institutions for short-term political gains.
Finance Commission has got new team who are committed to growth initiatives.
'I urge the government to put aside vendetta politics, and reach out to all sane voices and thinking minds, to steer our economy out of this man-made crisis'
ED orders Chanda Kochhar to appear with asset lists also provide income-tax returns in her individual capacity and of companies if she was a director or held any position.
Panagariya, who heads the government's main economic advisory body NITI Aayog, is also India's Group of 20 summit negotiator
Operationalising the ban is being fleshed out: it will entail which cryptocurrencies will be banned and how.
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
"The theme of tomorrow's meeting is 'Economic Policy Reform, Road Ahead'. The prime minister will make opening remarks. There are 15 invitees who will make their presentations before the prime minister," a senior government official said.
Experts disagree with the idea and the Reserve Bank of India (RBI), which has the sole right to print money, is not comfortable with it as well.
'Banking is a business of trust.'
He dismissed as 'hollow claim' and 'Modi's propaganda' that things have started looking up.
This is because the bond market has factored in the Rs 4.88-trillion gross borrowing for April-September 2020.
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