Finance Minister Arun Jaitley said the Reserve Bank and the Finance Ministry have "very mature level of consultation" and it wasn't fair to comment on them.
Licence winners are expected to be announced by the first quarter of 2014.
Free speech is the soul of a great university. By compromising on it, the founders have bartered away its soul, said Rajan.
Many bankers say the move will have a serious impact on the chain of command of nationalised banks and that it would only enable the government to dish out favours to a few of their own men.
The party also promised reservation to minorities on basis of their population after the caste census.
If indeed we want the board to manage the RBI, probably the government should take a close look at the US Federal Reserve system which has a two-part structure - a central authority in Washington, DC, and a decentralised network of 12 Federal Reserve Banks located throughout the country, says Tamal Bandyopadhyay.
Populism gains momentum during election periods, and this trend is evident in at least four states: Telangana, Rajasthan, Madhya Pradesh and Chhattisgarh.
The reform priorities are clear: enhance savings, improve productivity. Just 25 basis points of moving interest rate up or down would not boost investment: Former RBI Governor Y V Reddy.
A special Central Bureau of Investigation court in Mumbai has convicted four former bank officials in one of the multi-crore securities scam cases and sentenced them to three years imprisonment, 25 years after the scam involving 'Big Bull' Harshad Mehta came to the fore.
Business activity contracted in Q2 FY20, the first contraction since 2013-14 and the second since the 2008 global financial crisis, report, Abhishek Waghmare and Anup Roy.
'But unlike Bond who killed an individual, Israel is killing a nation.'
The RBI was not party to the decision to demonetize 500 and 1,000-rupee notes, which was taken at the highest level of India's political leadership.
Misfiring Indian bowlers in focus as India seek series-levelling win over SA in third T20I
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Banking as we know it will stand on its head in the next 10 years.
The bond, which the Reserve Bank of India started issuing on behalf of the Union government in 2003, was considered one of the safest savings instruments for retail investors.
Ramesh Vangal and foreign investors backing him have decided to exit the Nadar community-controlled Tamilnad Mercantile Bank (TMB).
In a major relief to media major Zee Entertainment Enterprises Ltd (ZEEL), the National Company Law Appellate Tribunal (NCLAT) on Friday stayed the insolvency proceedings initiated against it earlier this week. Admitting a petition filed by ZEEL Managing Director and chief executive Punit Goenka, the appellate tribunal issued notices to private sector lender IndusInd bank and the interim resolution professional directing them to file a reply in two weeks. NCLAT said the submissions made by both sides need a detailed hearing.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
Indradhanush-II is likely to chart out the process for resolution of non-performing assets.
New notes bearing signature of former Governor D Subbarao are legal tender and the process of changing signature is underway
It is not much of an issue just now, but it could become one if the idea of caste census captures socio-political imagination, going beyond electoral tags and identities, says N Sathiya Moorthy.
Move to shift powers from RBI without discussions baffles many
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
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.
Market leaders in this line of business - New India Assurance and Tata AIG - have begun to reassess the premium on risk exposure of their portfolio in the director's and officer's liability business.
Discussions are on in government about how to make the process simpler for the poor and more cost-effective for telecom operators, says Subhomoy Bhattacharjee.
In a relief to liquor baron Vijay Mallya, the high court in London has deferred hearings on a plea by the SBI-led consortium of Indian banks, seeking the indebted tycoon to be declared bankrupt to enable them recover a loan of around 1.145 billion pounds from him. Justice Michael Briggs of the insolvency division of the high court granted relief to Mallya, ruling that he should be given time till his petitions to the Supreme Court of India and his settlement proposal before the Karnataka high court be determined, allowing him time to repay his debts to the banks in full.
Hitting back at former prime minister Manmohan Singh for his criticism of the Modi government's handling of the economy, Finance Minister Nirmala Sitharaman on Thursday said he is more remembered for having brought India to "fragile five" and rampant inflation during his term.
Central bank sees action as discriminatory, unfair
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
A lot depends on how Srei shapes up under the new administrator and his team, which is critical for investors' interest.
'We can go somewhere between 35 per cent and 40 per cent.'
Rajan, 57, who was RBI governor for three years until September 2016, is currently working as a professor at the prestigious University of Chicago.
Never before has the need for creating an ambience for economic policy reforms been as critical as it is now, points out A K Bhattacharya.
'Since September 1, a senior cabinet minister has been to-ing and fro-ing between Jalna and Mumbai by chartered flight every single day with messages from the two deputy chief ministers and the chief minister to get Manoj Jarange-Patil to back down from his agitation.'
In both of these Hindi heartland states, the straight contest between the ruling Bharatiya Janata Party and the opposition Congress.
Rangarajan says there was no need to change the inflation comfort level from four-five per cent.
Reserve Bank Governor Shaktikanta Das on Wednesday said the country is at the doorstep of economic revival on the back of accommodative monetary and fiscal policies being pursued by the central bank and the government.
The Damodaran committee appointed by the Reserve Bank of India (RBI) to revisit the issue of banks' customer services is likely to recommend capping on service charges to small borrowers or vulnerable sections of society.
Sharp increase is a major departure from those during former chairman O P Bhatt's regime.
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