A task force will speed up the recalibration of 200,000 ATMs so these can dispense the new Rs 2,000 notes.
US dollar was firm against global currencies in overseas markets on rising prospects for a rate hike by US Federal Bank, which hit the rupee sentiment
Jaitley said inflation has been under control for long and is likely to remain so on the back of good monsoon and unlikely spike in oil prices.
The interim dividend will help Narendra Modi-led government partly bridge the deficit its budget had developed after the announcement of a Rs 75,000 crore a year cash dole scheme for small farmers.
Bank Nifty pared all its intraday gains to end over 1% lower led by losses in BoB, ICICI Bank, Axis Bank and Bank of India
For the week, the battered rupee gained 26 paise against the greenback
The former bureaucrat said he will take measures which the economy requires in a timely manner and as the first step, will meet the heads of public sector banks.
The wider Nifty hit a low of 10,033.35 before finishing at 10,044.10, down 74.15 points or 0.73 per cent.
'Three external members of the first MPC are respected researchers with excellent academic background, but there is no harm in considering academicians with diverse backgrounds such as finance and labour along with economists for this body,' recommends Tamal Bandyopadhyay.
The trolls on Twitter, the rumour mongers on WhatsApp and the serial abusers on Facebook are the enemies of social media.
The mismatch between industrialists' demand and account holders is because of inflation, Rajan said.
Hardening prices of manufactured items during the month may refrain the Reserve Bank of India from cutting rates in its policy review on February 8.
Only Rs 10,720 crore of the junked currency notes did not return to the banking system, rest 99.9 per cent was deposited raising question mark over the government's effort of curbing black money through the demonetisation.
The central bank has nine executive directors, and one of them -- S Karuppasamy -- retired recently. R Gandhi, who was executive director, has now been promoted to the post of deputy governor.
'There are deeper, underlying, forces at work and we need institutional arrangements to guard against them.'
Unless RBI temporarily relaxes the norms on recognising of bad loans, the pressure on this front could rise in the December quarter.
The career bureaucrat-turned-central banker walked into the 19th floor corner room of the Reserve Bank on December 12, 2018. Since February 2019, the Das-led RBI has cut the repo rate by a whopping 135 basis points to support the sagging growth, including an unprecedented 35 bps reduction in August. As he completes one year at the helm, woes in the NBFC sector, overall health of the banking sector and steeply falling economic growth are among the major challenges that needs to be tackled sooner than later.
According to the final recommendations of an expert committee, the weight of primary (unprocessed) food items will go down by 0.5-1.0 percentage points in the new series compared to the current one
Headed by Urjit Patel, MPC for the fourth straight time kept the repo rate unchanged, at which it lends to the banks, at 6.25 per cent. The reverse repo, at which RBI borrows, will be 6 per cent.
After Urjit Patel's appointment as RBI governor-designate, the bond market witnessed a sell-off, as it became evident that there won't be any significant change in stance
The central bank tweaked the retail inflation range to 4.8-4.9 per cent in the first half of 2018-19, and 4.7 per cent in the second half.
Apart from SBI, UPI 2.0 partner banks are HDFC Bank, Axis Bank, ICICI Bank, IDBI Bank, RBL Bank, YES Bank, Kotak Mahindra Bank, IndusInd Bank, Federal Bank and HSBC.
A representative of the Confederation of ATM Industry said ATM players were not consulted about the move and they received the news via media platforms.
RBI governor is seen succeeding International Monetary Fund (IMF) chief executive officer, Christine Lagarde, next year.
The additional cash will now give the Centre more headroom for stimulating the economy.
Major gainers in the Sensex pack were Hero Motocorp, which rallied 7.01 per cent, followed by Bharti Airtel (6.69 per cent), Yes Bank (5.30 per cent), Adani Ports (4.90 per cent), Tata Steel (3.75 per cent) and Bajaj Auto (3.70 per cent).
A combination of farm loan debt waivers by state governments and the implementation of the pay commission award could entail some fiscal slippages and pose a risk to inflation
While the collapse of a large financial intermediary can wreak havoc on the system because of the interconnectivity, a large business conglomerate too can play spoilsport if the banks have too much exposure to the entity, explains Tamal Bandyopadhyay.
Banks might not have realised the exact implication of risky projects under PPP projects, which were getting implemented under high leverage
The average bank customer does not know about the Customer Charter because it was designed - under Mr Rajan's regime - to be a lame duck initiative from the start: violating the charter has no consequences, points out, Debashis Basu.
It pointed out that farm loan waivers, combined with a potential stimulus which the government is mulling now, can result in a 1 percentage point slippage in fiscal deficit
The move will likely attract more retail investors.
'This is not without risk because extraordinary steps taken in exceptional times have the habit of becoming habits until the next crisis intervenes,' warns T N Ninan.
Voting for the 2014 general elections will begin in April and it is expected Budget 2014-15 will be presented in June.
The board deliberated on the governance framework of the RBI and it was decided that the matter needs further examination
The RBI is understood to be dithering since it would want more clarity on the cost of the fiscal policies the new government would undertake before it decides to cut rates, even though it has pencilled in a lower gross domestic product growth rate for this fiscal year.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
Jaitley said it is no surprise that Dr Manmohan Singh is unhappy as 'maximum black money was generated' under his rule.
The Reserve Bank of India unexpectedly raised its policy interest rate on Tuesday by 25 basis points (bps) but said that if consumer price inflation eases as projected, it does not foresee further near-term tightening.
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