The convertibility is RBI Governor's 'next big ambitious goal'.
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
According to ED sources Sunil Mehta said the fraud took place due to "systemic failure" and "procedural lapses", owing to lack of interface or proper links between the core banking software and the SWIFT interbank messaging system.
The government will release the Index of Industrial Production for July 2015 on Friday, September 11, 2015.
On the reduction in the SLR ratio, he said it was a signal from the point of view of long-term reforms.
'The finance minister has messed up the economy.'
FinMin had, recently, notified changes in FDI rules that made prior approval of the government mandatory for foreign investments from countries that share a land border with India. Hong Kong was ranked 14th on the list of countries with FDI flows to India, contributing $4.2 billion between April 2000 and December 2019, the data from DPIIT shows. India received FDI worth $2.34 billion from China in the same period.
'If there is an RBI majority in the committee, there is no question of a veto.'
Research and ratings agencies like Icra and Moody's have said the CAD in 2018-19 would be much higher than 2017-18
The FRBM report, to be submitted on Tuesday, is likely to have 'excuse clauses', absolving the government of meeting its fiscal commitments under certain conditions such as war or conflict, global economic meltdowns or natural disasters.
The ED, which is probing the DHFL promoters' role in financing funds to gangster Iqbal Memon (alias Iqbal Mirchi), said Kapil Wadhawan, former chairman and managing director of the debt-laden company, played a very crucial role in these "nefarious transactions" by way of money laundering.
Relations between the Mint Road and North Block have often been frosty, with the former's calls for lowering rates being the biggest point of difference
Siva group defaulted on payment in 2016 and is also facing CBI investigation
While he has plenty of critics at home, Rajan is a favourite among foreign investors and has been credited for bringing inflation under control.
First, there has been a significant softening in commodity prices - most notably oil.
Experts said the new framework has ensured that the focus has moved to creditor protection from debtor protection.
Around 241 companies were sent for liquidation under the IBC by various NCLT benches and in only 58 cases have the resolution plans been accepted
'Is baar vote jati par nahi, kaam par milega.'
'For every person there is a different way that you show respect for your country...my mother-in-law will say karmayogi is the way to go - do your work.'
Modi will also need to reconcile market demands with those from forces within his own administration
'They will be able to ride over this immediate crisis and carry on, but they need to take corrective steps and these will have to be long term measures which must include working closely with state governments.'
Naidu said that efforts are on to bring together all non-BJP parties and that he had met Congress president Rahul Gandhi to discuss measures on protecting democracy.
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On the Congress accusing BJP of hypocrisy for its failure to disclose names, Jaitley said the Congress got it all wrong because media "completely misreported" the case.
Ajit Doval is now India's all-powerful security boss. This concentration of power disrupts our layered security system. Will it not weaken whatever remains of the power and authority of the home, defence and finance ministers? asks Shekhar Gupta.
...but when they awaken, it's going to be overly optimistic to assume everybody will walk off the sleeping bed and come back to full life, Rajan noted.
Finance Minister Arun Jaitley witll spearhead the campaign with BJP President Amit Shah as its chief strategist.
'Several businesses like entertainment, hospitality, travel etc would never be the same again.'
'The macro-economic stresses -- high interest rates, rupee depreciation and capital flows -- have receded now.' 'Interest rates have come down, inflation is down and the rupee has bounced back.' 'If oil prices continue at this level, there will be no vulnerability.' 'Growth is a different story.'
The GIFT City management is in talks with Hong Kong, London, and Singapore arbitration centres
The apex court's five-judge Constitution bench headed by Chief Justice Dipak Misra said Aadhaar is meant to help benefits reach the marginalised sections of the society and takes into account the dignity of people not only from personal but also from community point of view.
In 2010, ministry told its officers nominated on PSB boards to stay away from big-loan panels; central bank followed suit.
The private college and hospital has been in the thick of controversy following irregularities and fraud, raising questions on why the Chhattisgarh government wants to acquire the debt-ridden institution by paying double the amount of its valuation.
All evidence suggests that the US Federal Reserve will raise interest rates soon.
At the Mumbai launch of his latest book, The Third Pillar: How Markets And States Leave The Community Behind, former RBI governor Raghuram Rajan served up an interesting mix that included Taylor Swift, Donald Trump, privileged families and a strong dose of commonsense economics.
The collection of mostly small and medium sized businesses is a hotchpotch of ventures and include design schools, schools, villas for hire in Goa and a country club in Gurgaon.
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