The Chinese had enough foreign reserves.
The RBI has shelved its plan for polymer notes more than a decade after it invited interest from global manufacturers for one billion pieces of Rs 10 denomination polymer banknotes, reveals Tamal Bandyopadhyay.
'To simply let the rupee depreciate to any level according to market forces will not be in the country's interests.'
Ambani is in good company. The likes of ultra-rich individuals like hedge fund billionaire Ray Dalio and co-founder of Google Sergey Brin have chosen Singapore to establish their family offices. So have British inventor James Dyson, famous for his bladeless fans and hair dryers and vacuum cleaners, and Zhang Yong, founder of China's Haidilao hotpot restaurant chain, reports Lee Kah Whye.
In a business friendly move, the Reserve Bank of India on Friday said that Real Time Gross Settlement System (RTGS), used for large value transactions, will be made available round-the-clock from December. In December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis. Currently, RTGS is available for customers from 7.00 am to 6.00 pm on all working days of a week, except second and fourth Saturdays of every month.
It would be a good idea to create independent oversight committees for each regulatory institution and indeed, even for their appellate bodies, says A K Bhattacharya.
The minister said Indian economy was the fastest growing.
Finance secretary Ajay Bhushan Pandey on Sunday hinted that the government was working on another stimulus package but he refrained from giving a timeframe.
A feature of this year's BRICS summit was economic cooperation.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
There was no word on whether or when Patel would be talking to the media about his priorities and plan of action as head of Mint Street
Officers across departments and ministries have been asked to speak to people across sectors for 'SWOT' analysis of issues for revival of the economy.
Faced with sluggish economic growth and dwindling exports, China on Wednesday devalued its currency for the second consecutive day.
"So you will not have anything better... democracy loving, capitalist respecting environment... in India," Sitharaman said at the event hosted by the Federation of Indian Chambers of Commerce and Industry in association with the US India Strategic and Partnership Forum.
Investors believe Indian is a tough place to do business with.
Shaktikanta Das said in Washington, DC, that there was nothing sacrosanct about the 25 bps rate cut and that monetary policy could be well served by calibrating the size of the policy rate to the dynamics of the situation, and the size of the change itself could convey the stance of policy.
Pakistan failed to fulfil six of the 27 mandates so far as a result of which the country continues to be in the grey list of the FATF.
The argument for a weaker rupee is substantial.
RBI must balance the need for improving domestic bank credit demand and respond to lower inflation.
India has expressed concern over the hike in visa fee by the US, saying it is "discriminatory" and largely affects Indian IT professionals.
Thousands of security personnel and high-tech surveillance systems dotted every nook and corner of this Turkish resort town as leaders of the world's 20 top economies congregated here for the two-day G20 Summit.
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.
'The Digital Rupee will be equal to the Indian rupee in value and backed by the full faith and credit of the RBI/Indian government.'
Rajan also said it's a problem of collective action and not a problem of industrial nations or emerging markets
Reacting to Trump's latest move, China has vowed to immediately retaliate.
'Will Mr Jaitley listen, or is that expecting too much in pre-election season?' asks T N Ninan.
India's numbers have shown a reasonable amount of improvement.
Dubs Modi government a "one trick horse" which will make the Hindu-Muslim issue the dominant one in political discourse; asks Opposition to field one candidate in every seat against BJP nominee in 2019 polls.
The simultaneous decline of several trade-related indicators should put policy makers on guard for a sharper slowdown.
The Reserve Bank is working on a phased implementation strategy for its own digital currency and is in the process of launching it in wholesale and retail segments in the near future, RBI Deputy Governor T Rabi Sankar said on Thursday. He said the idea of Central Bank Digital Currency (CBDC) is ripe, and many central banks in the world are working towards it. Sankar further said CBDC is needed to protect consumers from the "frightening level of volatility" seen in some of the virtual currencies which have no sovereign backing.
'RCEP may be in India's long-term interest, but it is certainly not in India's short-term and medium-term interest.'
'The Chinese devalued the yuan initially but then stopped'.
The PM said there was a need to tackle the problem of terrorism in an organised manner.
Gross non-performing assets of public sector banks surged to 9.32 per cent (Rs 4.76 lakh crore) of advances in 2015-16, from 5.43 per cent (Rs 2.67 lakh crore) in 2014-15.
The Reserve Bank on Friday retained the GDP forecast for the current financial year at 9.5 per cent and flagged global semiconductor shortages, elevated commodity prices and potential global financial market volatility as downside risks to economic growth. In his address after the three-day meeting of the rate-setting panel, RBI Governor Shaktikanta Das said recovery in aggregate demand gathered pace in August-September, and it is reflected in high-frequency indicators, like railway freight traffic; port cargo; cement production; electricity demand; e-way bills; GST and toll collections. "The ebbing of infections, together with improving consumer confidence, has been supporting private consumption," he said, and added the pent-up demand and the festival season should give further fillip to urban demand in the second half of the financial year.
A staggering $18 trillion worth unaccounted money is stashed in tax havens.
Under the Commission proposal, Greece would get the whole 7 billion in one go
Report points out corporate vulnerability indicators remain elevated.
What might be useful is targeted assistance to those sectors and individuals that are disproportionately affected, suggests Mihir S Sharma.
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