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
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
'Indian diplomacy faltered amidst multiple failures of statecraft.' 'The functionaries responsible must be held to account for their abject failure,' asserts Ambassador M K Bhadrakumar.
Parliament on Thursday cleared the decks for the rollout of the historic Goods and Services Tax from July 1 as it approved four supporting legislations to usher in the one-nation-one-tax regime.
The financial crisis has challenged the intellectual assumptions on which previous regulatory approaches were largely built, and in particular the theory of rational and self-correcting markets.
'According to top government sources, the territorial boundaries of the existing North-Eastern states will not be disturbed although cultural integration of Nagas living in states other than Nagaland will be facilitated through special measures,' reveals Nitin A Gokhale.
'If Indians are to be truly protected, Parliament must review and address these dangerous provisions before they become law.'
United Spirits had a tough time in recent past due to management related issues. Going ahead, corporate governance is a big challenge, say experts.
Deal to bolster firm's position in healthcare IT.
Official celebrations in most states were restricted to unfurling of the national flag and chief ministers and governors addressing the people, with fewer guests in attendance.
In the Anti Money Laundering (AML) Basel Index 2013 India has been ranked 93rd and 70th in 2012 and 2013 respectively out of 140 countries.
Students, watch out for these mistakes!
Thousands of retail investors are reaping the benefits of the disruption that the latest technologies have brought to the equity market. Brokerage firms are aggressively investing in technologies such as artificial intelligence, machine learning, big data and analytics, social media, chatbots, virtual assistants and so on.
Instead of the Hindustan Turbo Trainer-40, which Hindustan Aeronautics Ltd could build, export, overhaul, upgrade and even modify into a light-attack aircraft, powerful lobbies have promoted a Swiss trainer -- the Pilatus PC-7 Mark II.
Bank licencing has been a "once in a decade" affair and so it could well be that we don't face this process anytime soon.
It is doubtful that our political masters are even aware of the features of the Model Law.
'The temptation of governments, to have a finger in the RBI pie will be just too great to resist, unless extensive amendments are carried out in the RBI Act treating it almost as the fourth branch of the government.'
Nikita Puri and Dhruv Munjal explain why new-age businessmen are turning to exclusive, uber-rich clubs.
India and China met and spoke a lot this year, but failed to produce any meaningful results.
With nearly a quarter of U.S. energy shares' value wiped out by oil's six-month slide, investors are wondering if the sector has taken enough punishment and whether it is time to pile back in ahead of earnings reports later this month.
Ambitious diplomats continue to be attracted to politics but do they make good politicians, asks Jyoti Malhotra
Honest tax payers need not worry about the new black money law, says finance minister Arun Jaitley.
The Board rued that its efforts to resolve the concerns of the founders - who together own about 12.75 per cent stake in Infosys - over the course of a year through a dialogue have not been successful.
An ambitious long-term vision to ensure economic connectivity between India and the rest of Southern Asia is critical to India's trade policy objectives.
United States Secretary of State John Kerry, heading a high-powered delegation of his cabinet colleagues and top military commanders, today left for India as part of his 10-day seven nation Asia trip.
'It is strange that a country like India, which had gone through crisis after crisis resulting from militancy, insurgency and terrorist attacks, should still be practising ad hocism in managing its security imperatives,' says B S Raghavan, the distinguished civil servant and former member of the Joint Intelligence Council.
Economic reforms seem to be on a slow train, while good old fiscal populism is alive and flourishing.
The Modi government's array of economic policy has been impressive.
An excerpt from 'Money Smart: The Indian Woman's Guide To Managing Wealth' by Reenita Malhotra Hora and Divya Vij that reveals various options to help you save tax as well as invest for creating long-term wealth.
DLFknowingly suppressed material facts: Sebi
Like China, India needs to encourage 'hacker clubs' in view of the challenges of virtual terrorism, says Lieutenant General Prakash Katoch (retd)
With an aggressive Opposition and unyielding government, important legislation could be the biggest casualty, as details of the helicopter contract surface.
Depression is not just stress, nor is it only sadness. Depression is an illness.
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