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.
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.
Officers across departments and ministries have been asked to speak to people across sectors for 'SWOT' analysis of issues for revival of the economy.
A feature of this year's BRICS summit was economic cooperation.
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
'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.'
"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.
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.
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.
Faced with sluggish economic growth and dwindling exports, China on Wednesday devalued its currency for the second consecutive day.
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.
Of the 23 companies, eight have raised funds after Shark Tank India.
Investors believe Indian is a tough place to do business with.
'Will Mr Jaitley listen, or is that expecting too much in pre-election season?' asks T N Ninan.
The argument for a weaker rupee is substantial.
Reacting to Trump's latest move, China has vowed to immediately retaliate.
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 6-7 million tonnes shortfall in rice production due to a fall in paddy sowing area is likely to keep rice prices at elevated levels, adding to the inflationary pressure that the slowing economy is already grappling with. Elevated food prices, including that of cereals, had led to retail inflation reversing a three-month declining trend, to touch 7 per cent in August. Similarly, the wholesale price inflation, which declined to 11-month low, also showed price pressures from cereals resulting from wheat output being impacted by severe heat waves in some parts of the country.
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.
India has expressed concern over the hike in visa fee by the US, saying it is "discriminatory" and largely affects Indian IT professionals.
The simultaneous decline of several trade-related indicators should put policy makers on guard for a sharper slowdown.
The PM said there was a need to tackle the problem of terrorism in an organised manner.
Rajan also said it's a problem of collective action and not a problem of industrial nations or emerging markets
RBI must balance the need for improving domestic bank credit demand and respond to lower inflation.
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.
'RCEP may be in India's long-term interest, but it is certainly not in India's short-term and medium-term interest.'
India's numbers have shown a reasonable amount of improvement.
'The Chinese devalued the yuan initially but then stopped'.
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.
What might be useful is targeted assistance to those sectors and individuals that are disproportionately affected, suggests Mihir S Sharma.
Report points out corporate vulnerability indicators remain elevated.
Under the Commission proposal, Greece would get the whole 7 billion in one go
A staggering $18 trillion worth unaccounted money is stashed in tax havens.
Moody's Investors Service on Friday projected India's growth at zero per cent for the current fiscal and said the negative outlook on sovereign rating reflects increasing risks that GDP growth will remain significantly lower than in the past. The outlook also partly shows weaker policy effectiveness to address economic and institutional issues, it noted in the update to its November 2019 rating forecast.
With this subdued forecast, India is likely to record its worst growth performance since the 1991 liberalisation. However, it is among the only two major economies, which will register a positive growth rate in 2020. The other being China, for which the IMF has projected a growth rate of 1.2 per cent.
If indeed we want the board to manage the RBI, probably the government should take a close look at the US Federal Reserve system which has a two-part structure - a central authority in Washington, DC, and a decentralised network of 12 Federal Reserve Banks located throughout the country, says Tamal Bandyopadhyay.
'One way of doing this could be offering credit guarantee to the banks, say 10 per cent, for fresh loans given to micro, small and medium enterprises,' observes Tamal Bandyopadhyay.
The BRICS Summit tonight decided to establish the new development bank with an initial authorised capital of $100 billion.
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