Traditionally, Prime Minister picks the RBI Governor after consultation with the finance minister.
After a long wait, the Shapoorji Pallonji Group has closed the sale process of its consumer durables business under the Eureka Forbes label by picking the American private equity fund Advent International's Rs 4,400-crore offer for a 72 per cent stake. The sale process, which began in November 2019, will help the over 156-year-old SP Group pair the debt pile and sharpen the focus on the flagship construction and engineering business under Afcons. The valuation of Rs 4,400 crore for a 72.56 per cent stake is is at an enterprise level and subject to closing adjustments and also includes an open offer for the remaining stake after the demerger and listing of Eureka Forbes, the SP group said in a statement on Sunday.
The revelation is contained in prominent economist and former RBI Governor Bimal Jalan's newest book, The Future of India: Politics, Economics and Governance.
There is a two-minute footage about Choksi in the series which allegedly shows him in a bad light and therefore, could affect the various proceedings against him in India.
While using the family to save tax is legal and smart, ensure you use the ones where clubbing income laws isn't a concern, advises Bindisha Sarang.
The central bank can directly print money and finance the government, but it should avoid doing so unless there is absolutely no alternative, former RBI governor D Subbarao on Wednesday said while pointing out that India is 'nowhere' near such a scenario. In an interview with PTI, Subbarao suggested that to deal with the second wave of COVID-19 induced slowdown in the economy, the government can consider Covid bonds as an option to raise borrowing, not in addition to budgeted borrowing, but as a part of that.
About 240,000 commuters travelled on the first day (Sunday) of the Mumbai Metro's operations, Reliance Infrastructure Ltd (RInfra) said on Monday.
Jet's staff strength stands whittled down to around 4,000, with many former employees having joined airlines in India and abroad.
Tells RBI this is not the time to consider such a foray, especially given the lack of funds to spare for such a venture.
Two days after the repo rate cut, the Reserve Bank of India governor Bimal Jalan on Monday said the soft interest rate bias will continue.
Former Reserve Bank Governors do not seen any harm in central bank consulting the government before firming up monetary policy initiatives saying such an step would not amount to infringement on its independence.
In May, EPFO received deposits of Rs 6,500 crores (Rs 65 billion) which, is 200 crores more than what was received in April this year.
Reserve Bank of India Governor Bimal Jalan said on Friday that there was no proposal to lower the short-term benchmark repo rate now.
Economic growth has slipped to a six-year low of 5 per cent for the June quarter and is expected to turn in lower than that in the September quarter. Lack of consumption is seen as one of the key factors pulling down growth.
Jalan has unquestionably left an indelible mark on Mint Street.
RBI Governor Bimal Jalan on Thursday ruled out the possibility of a change in Repo rate, but hoped that inflation would turn soft from the second quarter of the current fiscal.
The high court was hearing a plea by Samyak Gangwal challenging a June 2 order of the Central Public Information Officer (CPIO), PMO, refusing to provide documents sought by him on the ground that PM CARES Fund is not a public authority under the RTI Act.
The Reserve Bank of India on Tuesday cut the bank rate by 0.25 per cent to 6 per cent with effect from close of business hours.
Reliance Infrastructure said it plans to commission the Mumbai Metro rail project this year.
Home healthcare remains a niche segment in India even today. Nightingale provides services, starting from family physicians, short- and long-term nursing care, post-hospitalisation care and physiotherapy to stroke rehabilitation, respiratory care, bedside caregivers and attendants, intensive care at home, lab tests and speech therapy.
Reserve Bank of India on Wednesday expressed confidence that the Indian economy has the resilience to face any problems that might crop up in the event of a war in Iraq and said the soft interest bias would continue despite a rise in price level.
Reserve Bank of India chief Bimal Jalan reiterated on Monday the bank's soft monetary bias but said there was no immediate plan to cut the short-term repo rate.
The Finance Ministry has been pitching for EPFO funds to be invested in the equity markets to maximise their yields.
We have a government with an extremely weak economic team advising a PM who hardly pays attention to their thoughts, says Jayanta Roy.
High support prices, wage inceases and RBI's assumption of an 'acceptable' rate of inflation are responsible for the continuous price rise.
The Reserve Bank of India, which slashed the repurchase rate (repo) and savings bank rate by half a percentage point each on February 28, is certain to cut the bank rate in April.
The additional cash will now give the Centre more headroom for stimulating the economy.
Churchill Brothers' hopes of making it to the next round of the AFC Cup suffered a jolt when they lost 0-1 to Warriors FC in an away match in Singapore, on Wednesday.
Last month, the Bimal Jalan panel, which scrutinised applications for new bank licences, submitted its report along with shortlisted entities to the RBI.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
For 2017-18 and 2018-19, investors are better off focusing on the quality of measures announced in the Budget and outside it rather than on the Budget numbers themselves, says T T Ram Mohan.
EPFO has verified or attested 64.67 lakh Aadhaar numbers.
In the event of a Chinese attack on Arunachal, troops and equipment from mainland India will travel on the existing south bank railway till Bogibeel, cross the Brahmaputra on the new bridge and then head further east on the Strategic Rail-Road Link, once it is ready.
Retirement fund manager EPFO that has initiated the process of seeding KYC details like PAN, Aadhaar of contributing members for making Universal Account Number (UAN) has set a target of seeding 2 crore (20 million) bank account data by end of this month.
Foreign brokerage Bank of America Merrill Lynch said they expect the headline inflation to rise to 3.3 per cent in May, but added that it is within the 2-6 per cent range which the government has set for the RBI.
