As deputy governor, Patel headed the RBI panel to draft the monetary policy report, which became the basis of the ongoing reforms at the apex bank
India and the US inked a tax information sharing agreement under FATCA which will enable automatic exchange of financial information.
Britain has finalised 1 billion pounds worth of new trade and investment with India, creating over 6,500 jobs in the UK, to be signed off at a virtual summit between Prime Minister Boris Johnson and his Indian counterpart Narendra Modi on Tuesday. The investments confirmed by Downing Street on Monday evening form part of an Enhanced Trade Partnership (ETP), which will set the ambition to double the value of UK-India trade by 2030 and declare a shared intent to begin work towards a comprehensive Free Trade Agreement (FTA). "Like every aspect of the UK-India relationship, the economic links between our countries make our people stronger and safer," Johnson said.
India has already signed the OECD's global standard for automatic exchange of information between tax authorities two years back and once the new format is implemented, the country will follow the new protocols envisaged in it.
'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.'
A research was conducted jointly by the universities on the finances of foreign students and the paper asked the Australian government and educational institutions to set aside funds for such students. Review of the 'specified minimum income' the students need to support themselves while studying, was also demanded from the government, The Australian reported on Wednesday.
Arvind Subramanian was appointed CEA in October 2014 and got a year's extension in September 2017
India's public debt ratio, which remarkably remained stable at around 70 per cent of the GDP since 1991, is projected to jump by 17 percentage points to nearly 90 per cent because of increase in public spending due to COVID-19, the IMF said.
Jet Airways' plan to raise funds from international institutional investors will come up for approval by the Foreign Investment Promotion Board this week.
In 2002-03, the government had funded only 30 per cent of its total expenditure.
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Indian-American economist Arvind Panagariya has said that he is "honoured" to be appointed by Prime Minister Narendra Modi as the first Vice Chairman of the newly created NITI Aayog, which replaces the 65-year-old Planning Commission.
'A bold, progressive step forward,' Kotak Mahindra Bank CEO Uday Kotak said of Nirmala Sitharaman's corporate tax breaks.
The new body may be headed by the Prime Minister as the chairman position would be ex-officio.
Saudi Aramco chairman and head of the Kingdom's cash-rich wealth fund PIF Yasir Othman Al-Rumayyan will join the board of Reliance Industries Ltd as an independent director in a precursor to a $15 billion deal. Reliance chairman and Asia's richest man Mukesh Ambani, who had two years back disclosed the talks to sell a 20 per cent stake in the company's oil-to-chemical unit to Saudi Aramco, announced the appointment of Al-Rumayyan at the company's annual meeting of shareholders. Harvard educated Al-Rumayyan, 51, will replace Yogendra P Trivedi, 92, who has expressed a desire to retire, Ambani said. On the sale of a 20 per cent stake in the O2C business, he said the deal is likely to conclude this year.
The CII delegation includes many eminent names.
The IMF proposals will be reviewed by the finance ministers of G-20, whose representatives are in Washington for meetings this week, The Post reported.
The AIIMS administration has initiated an internal inquiry to look into the cause of the fire and further strengthen preventive measure.
In the new decade, the scene will change because the banks till recently had been challenged by the fintechs, but the techfins have now entered the arena, observes Tamal Bandyopadhyay.
Proceeds of the crime had been siphoned off and laundered or concealed, or layered and integrated into the main financial system through the acquisition of properties. His wife Bindu Kapoor has been charged with being aware of the source of monies that were being routed through these companies.
Young professionals who lost their jobs tell Rediff.com's Divya Nair how they reclaimed their lives.
An alumnus of St Stephen's College, Delhi, his professional career began in the early 1990s. He completed a Master's degree in international affairs from Columbia University during 1996-98. And an MBA from Northeastern University, Boston.
Finance Minister Jaswant Singh will not attend the spring meeting of International Monetary Fund and World Bank, starting in Washington on March 20.
An official announcement to this effect would be made next week. The vice-chairman would be of Cabinet rank.
RRBs were formed under an Act to provide credit to small farmers, agricultural labourers and businesses in rural areas.
Piyush Goyal, who held the post of finance minister when Arun Jaitley was undergoing treatment, told the Confederation of Indian Industry's annual session: "All stakeholders, including the RBI, should introspect on their respective roles (on low economic growth)."
With auditing under the scanner and two of the Big Four firms stopping non-audit services for audit clients, auditors will now be subjected to a more stringent standard of reporting.
The opening ceremony was held in China's financial capital.
Nawaz Sharif was the last Pakistani prime minister to visit the US on an official trip in October 2015.
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
In a pre-Budget memorandum to finance minister Pranab Mukherjee, the IndusInd International Federation said selective benefits may be offered to NRIs enabling them to make India the hub for their global activities.
Kumar joined KPMG in 1995 as a Finance Management Leader and from 2005 until his retirement in September 2013 he led the firm's West Coast Finance Management Consulting practice.
Lauding India for its "comfortable" foreign exchange reserves, the International Monetary Fund said the country was not in need of any assistance from it.
The Institute of Management Technology, Ghaziabad & Nagpur invites applications for its various management programmes.
"In India's development cooperation, we will be guided by our partners' development priorities. Our assistance does not create indebtedness and is without conditionalities," he said at the 44th Annual Meeting of the G-77 Foreign Ministers on Thursday, in a veiled reference to China's loans which has led to debt-traps in some countries.
The GST Council, headed by Jaitley and comprising representatives of all the states, is scheduled to meet in Srinagar on May 18-19 to finalise tax rates on different goods and services after unifying at least 10 indirect taxes into the Goods and Services Tax.
IMF policymakers have said they will come up with ideas on how to push ahead with reform by mid-December.
Will Arundhati Bhattacharya be the RBI's first woman governor? Or will Urjit Patel succeed Raghuram Rajanas RBI governor when his term ends on September 4?
China would be an influential player in the bank
'The most important thing is that the psychological signal it is giving to the markets and international markets,' says former finance secretary Arvind Mayaram.
Had India agreed to join the trade pact, Indian markets would have been flooded with cheap Chinese products.
