Economist and former Reserve Bank Governor C Rangarajan on Monday said that the economy will recover in the second half of 2009 and there would be distinct improvement in growth in 2010-11.
The Financial Stability and Development Council members include heads of regulatory bodies like RBI, Sebi and Insurance Regulatory Development Authority.
Nowadays, our politics is habituated to sitting on a high pedestal, hobnobbing with world leaders, generating impressions of a superpower and returning to earth for the purpose of winning elections. In contrast, the yatra never left earth, observes Shyam G Menon.
Ex-RBI Governor, Bimal Jalan, launched a high profile NGO Public Interest Foundation for the benefit of the deprived section of the society.
'The finance ministry and public sector banks have tried to keep the names of wilful defaulters secret.' 'Secrecy and concealing information are inbred among banks and even the RBI,' observes Debashis Basu, editor, www.moneylife.in.
For all its claims to economic glory, the majority of India's population lives vulnerable lives, a situation that has only worsened over the past 15 years, to the extent that the government now fears to release economic data or even conduct a proper Census, notes Rathin Roy.
Former RBI governor admits to being a 'greenhorn' as he started his stint at the central bank.
Former Reserve Bank of India governor Yaga Venugopal Reddy said he would have preferred a tighter monetary policy as managing inflation and inflationary expectations were crucial to keep the economy growing.
Duvvuri Subbarao recounts how his tensions with P Chidambaram and Pranab Mukherjee, then finance ministers, over monetary policy spilled over into other issues in the central bank in this excerpt from Who Moved My Interest Rate?, his memoir of his term as Reserve Bank of India governor.
The government is "extremely disappointed" with the latest report of the Moody's rating agency on India's economic outlook. The report, a senior government official said, was highly contradictory and called the rating agency's credibility into question. Referring to the Moody's statement that "India's fiscal strength remains a key weakness in the sovereign credit profile...", the official remarked: "How can my strength be my weakness? Moreover, they are unwilling to have a like-to-like comparison with India."
"This year (2009-10), our WPI is low and I don't see any problem on the horizon which could destabilise us except oil prices which remain a question," said Rajya Sabha MP and former Reserve Bank Governor Bimal Jalan. On the high fiscal deficit, Jalan said he did not think stimulus packages posed a problem. On taxation, he said it would not be good for the country not to have a reasonable rate of tax on profit and dividend.
Jalan expressed concern over individual ministers, some of them politically heavyweights, taking vital decisions without taking the Cabinet into confidence.
Mired in corruption, politics and with a history of suicides by its hapless depositors, PMC Bank's revival is a challenge very different from Yes Bank and LVB, both for the regulator and the rescuer, observes Tamal Bandyopadhyay.
A 9-10 per cent economic growth rate for India is not sustainable without creating necessary infrastructure like power, ports and roads, warns former Reserve Bank Governor Y V Reddy.
About 50 per cent of the accounts that availed of the EMI moratorium amid the pandemic, which made things worse in an already slowing economy, are expected to be restructured, and of these accounts that would undergo restructuring, one-third, or Rs 6-9 trillion, could turn into NPAs.
There are four first information reports against Saradha Group in which it is alleged that thousands of investors were allegedly duped by the company officials and their associates who swindled their deposits.
The Bharatiya Janata Party and the Congress remain the most dominant political forces in Chhattisgarh, though the state has several regional outfits that have pockets of influence, while the Aam Aadmi Party (AAP) is making a determined bid to challenge its well entrenched rivals and make a mark in polls to the 90-member House.
the three investors that have submitted their final bids are not commercial banks. Among the three, one is a non-banking financial company. Another distinctive feature of the revival is that PMC may lose its cooperative bank characteristic after its reconstruction.
The Congress leader also said that the BJP wants to change the Constitution, and reduce and weaken the rights given to the people through the statute book.
'The last year's growth is a foretaste of things to come in the retail credit market.'
IndusInd Bank had moved NCLT claiming default of Rs 83.08 crore against the media & entertainment firm. The petition, to initiate insolvency proceedings against ZEEL, has been filed under section 7 of the Insolvency & Bankruptcy Code (IBC).
In a scathing attack on Prime Minister Narendra Modi, Congress president Mallikarjun Kharge on Thursday said when the elections are over, people will only remember him as the PM who indulged in 'divisive and communal speeches filled with lies' to avoid an inevitable defeat.
Indian economy has a stable system to cope with frequent changes in the political arena to pursue the growth agenda, International Monetary Fund executive director Y V Reddy said.
LVB had faced some serious flak in terms of bad loans, earnings and credit rating downgrades, since 2016.
RRBs were formed under an Act to provide credit to small farmers, agricultural labourers and businesses in rural areas.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
However, the prime minister has told confidants that he was unable to do justice to the foreign affairs portfolio and admitted the need for a full-time foreign minister.
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
A new chair in the memory of former Reserve Bank of India Governor IG Patel will be created at the London School of Economics and Political Science.
YES Bank said that it has not paid any bonus to Kapoor for FY17 and FY18. He drew a salary of Rs 6.48 crore for the ten months he served as MD & CEO, before his tenure ended in January.
In the aftermath of the PMC Bank mess which was in the RBI's highest rating of 'A' category, trustworthiness of these ratings may be up for a review.
India is in a much better position to deal with the challenges related to growth and inflation, said Sanjiv Bajaj, president of industry body CII. According to official figures, India's retail inflation continues to remain above the Reserve Bank's tolerance level of 6 per cent since January, while the economic growth in the first quarter of the fiscal was 13.5 per cent, lower than the central bank's estimate of 16.2 per cent. "I don't want to say we don't have our own challenges with growth, with inflation but we are in a much better position and credit must go to everybody including the central and state governments.
The RJD has fielded six women candidates, some of them are wives of bahubalis.
Former RBI Governor Bimal Jalan on Wednesday said the Congress leader Manmohan Singh was assuming the office of the prime minister at a time when the country was facing "huge challenges" in the political, economic and social spheres.
In FY23, the State Bank of India (SBI) reported a 57.4 per cent jump in its net profit to Rs 55,684.17 crore. But the chairman of the country's largest bank, Dinesh Khara's annual pay for this creditable performance was just Rs 37 lakh (his peers at state-run banks are no better off). Look at his private bank rivals - most pocketed in excess of Rs 7 crore annually - plus stock options.
The economy can grow by 8.0 per cent if the government improves the public administration and delivery systems, carry forward legal reforms and implement policies promptly
The stakes are significant for the BJP in this round as the party had in 2019 won an overwhelming majority of these seats, including all in Gujarat, Chhattisgarh, Bihar and Madhya Pradesh, that will go to polls on May 7.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances