Ironically, bad loans and non-performing assets are on the rise in public sector banks in India, say sector watchers.
India's forex reserves recently declined by $704 million to $354.517 billion.
A gathering of top industry executives, government leaders and academics will explore critical topics such as India's emergence as a world power and how the next decade will define its place on the world stage.
The Sensex closed higher by 170 points at 26,128 and the Nifty rose 59 points to end at 7,943.
In the five years in politics Priyanka Gandhi has undeniably emerged as a thorn in the BJP flesh, notes Nilanjan Mukhopadhyay. It is time that this thorn is twisted a wee bit more when the elections have become far more uncertain than what it was when the Election Commission announced the poll schedule.
The party also promised reservation to minorities on basis of their population after the caste census.
In a soon to be published book, 'Of Counsel: The Challenges of the Modi-Jaitley Economy,' former chief economic advisor Arvind Subramanian says though RBI has a good reputation, it does not mean it's always right, as for years, the RBI was unable to grasp the seriousness of the loan repayment problems or identify the prolonged frauds of Nirav Modi and the likes.
Summers dogged by controversies over past views
The BJP had not filed till May the expenses statement for the Karnataka Assembly elections held last year in July.
'It is far too early to celebrate the numbers.' 'They are still fairly weak compared to the pre-pandemic level.'
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.
Governments that do not respect central banks' independence will sooner or later incur the wrath of the financial markets, ignite economic fires, and come to rue the day they undermined an important regulatory institution; their wiser counterparts who invest in central bank independence will enjoy lower costs of borrowing, the love of international investors, and longer life spans, said Acharya, who will return to the New York University's Stern Business School in August.
'But unlike Bond who killed an individual, Israel is killing a nation.'
'For years, the RBI has been warning banks on probable frauds in bank guarantees and advised them to exercise due care.' 'PSB staffers feel their jobs are secured, hence there is no need to be vigilant and exercise financial prudence.'
In a bureaucratic reshuffle, economic affairs secretary Rakesh Mohan will look after the key budget division following the appointment of expenditure secretary D Swarup
Chidambaram has been magnanimous in endorsing my book, says the former RBI Governor D Subbarao.
Pakistan has appointed Saleem Raza, a former international banker, as central bank governor.
'Hacking of an ID or an account will have the same impact on a user in a city and one in a small town.' 'Security is like a railroad, you create it to last for every customer.'
Move to hasten rollout and, if successful, set a precedent for new banking firms.
The report of the committee could be taken up at the next meeting of Securities and Exchange Board of India.
Reserve Bank cautioned banks on Wednesday against rising defaults in consumer and home loans with interest rates on the higher side, but refused to liken it with the sub-prime crisis in the US. It will not be right to call it a subprime crisis but defaults have slightly increased in consumer and home loans, RBI Governor Y V Reddy told PTI when asked about former Deputy Governor S S Tarapore's fears on this count.
Issuance of new bank licences proves that the apex bank wants the financial sector to flourish.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
Rajan said that while there were talks about Jan Dhan, it was difficult to target transfers to people through this tool. Jan Dhan, he said, does not really work as advertised.
NITI Aayog's Rajiv Kumar accused former prime minister Manmohan Singh and senior Congress leader P Chidambaram of creating a 'false narrative'
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
Rajan said in order to export, one needs to be able to import things that go into those exports as cheaply as it can.
The Lok Sabha contest in Thiruvananthapuram is shaping up to be a significant battle involving key candidates like Shashi Tharoor, Rajeev Chandrasekhar, and Panniyan Ravindran. This three-cornered fight highlights the political dynamics in Kerala's capital city, with each candidate bringing their own vision and promises for the region's development, notes Rajeev Srinivasan.
This amount will include Rs 13,100 crore that Economic Affairs Secretary Subhash Garg has been publicly seeking from the central bank's contingency reserve fund since 2017-18 (FY18).
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
Misfiring Indian bowlers in focus as India seek series-levelling win over SA in third T20I
The Reserve Bank of India-constituted committee on procedures and performance audit on public services (CPPAPS) has recommended early introduction of coins of Rs 10 denomination.
Inflation jumped to 4.78 per cent in November, driven by rising prices of essential food items like pulses, fruits and vegetables.
The judgment was reserved after a marathon hearing which went on for 38 days spanning four months.
Former central bank deputy governor S S Tarapore today said the Reserve Bank of India's monetary measures to contain inflation have been "appropriate" as of today
