RBI staff tell Governor Urjit Patel that the central bank's image of efficiency and independence has 'gone into smithereens in no time.'
Rajan will evolve a policy with the help of professional persons for a national consensus if we have to carry on with implementing social and economic changes in a complex economy.
The career bureaucrat-turned-central banker walked into the 19th floor corner room of the Reserve Bank on December 12, 2018. Since February 2019, the Das-led RBI has cut the repo rate by a whopping 135 basis points to support the sagging growth, including an unprecedented 35 bps reduction in August. As he completes one year at the helm, woes in the NBFC sector, overall health of the banking sector and steeply falling economic growth are among the major challenges that needs to be tackled sooner than later.
Enthused by a good monsoon, the government on Wednesday said the economy would grow by over 6.0 per cent and could even log near 8.0 per cent growth
The RBI has hiked repo or short-term lending rate up by 0.25 pc to 7.75 pc.
Retirement fund body EPFO settled 1.21 crore subscriber claims, including withdrawal and transfer of provident fund, in 2013-14, an increase of 13 per cent over the previous year.
Recently, Hindu religious seers had threatened to boycott the ceremonial Kumbh snan if the Ganga was not clean.
'His (Das) approach to work seems that of working as a team with ease in communication.'
After the screening, the shortlisted candidates will be vetted by an external committee, to be headed by former RBI governor, Bimal Jalan.
The growing interest in alternative sports is encouraging Ronnie Screwvala to extend the U Mumba brand from kabaddi to football and volleyball.
In an interaction with Jash Kriplani, A Balasubramanian, managing director and chief executive officer, Aditya Birla Sun Life Asset Management Company, shares his optimism on what makes him believe that these cuts can help in addressing multiple issues plaguing the economy, without letting fiscal deficit pose any major risk.
The RBI governor has to convert the zero-sum game with the government from a non-cooperative one -- which his two predecessors had made it -- to a cooperative one, explains T C A Srinivasa Raghavan.
Economists who get too close to prime ministers eventually come to grief after their boss is defeated
The rest 25% would be paid to the subscriber at the age of 58.
Some unions have opposed EPFO investing in share markets.
Besides managing retirement funds, EPFO may come out with a scheme to provide housing to its over 5 crore (50 million) subscribers on additional contribution of 10 per cent by them from their basic wages every month.
T C A Srinivasa-Raghavan recalls a tussle between the government and RBI when Rajiv Gandhi was prime minister and how it was resolved.
Twenty-six entities, including the Tatas, Aditya Birla Group, Anil Ambani-led Reliance Capital and Religare, apart from India Post, applied. Videocon Group, later on withdrew its application.
The report said the import cover has gone down to seven months, last seen in 1998 and hence, RBI will focus on recouping the reserves.
Erstwhile RBI governors, including Raghuram Rajan never had cordial relations with the government.
Budget-makers in North Block are looking to maintain this fiscal status quo, in spite of tax revenues nowhere close to where the government wants and in spite of possible higher expenditure commitments.
A staunch defender of demonetisation, it would be interesting to see how he handles the government's increasing demand for more cash from the RBI, and letting some weak banks get out of prompt corrective action.
There were three attractive half-centuries but a top and lower-middle order collapse saw hosts Karnataka manage a below-par 264 for 9 against Saurashtra on the opening day of the Ranji Trophy semi-final on Thursday.
'My immediate objective is to start thinking about research once again. Start understanding the world we are in which has changed quite a bit.'
Employees covered under private PF trusts, which manage retirement fund of their workers themselves, will be able to transfer their PF accounts online from next month.
The Prime Minister said there is a need to have a relook at the structure of the Planning Commission and give it a new shape.
Other members of the high-level advisory committee are former RBI Deputy Governor Usha Thorat, former Securities and Exchange Board of India Chairman C B Bhave, and Nachiket M Mor, Director of the Central Board of Directors of RBI, Governor Raghuram Rajan said.
"I would hope that the government would very respectfully request him to continue for one term or my preference would be two terms," Narayana Murthy said.
There are serious issues in the economy which need to be addressed
'Nowadays, every week there is a comparison.' 'This week someone is on top, next week someone else.' 'For me, the love that I got made my legs strong, not my head.'
The meeting has been called as the Finance Minister P Chidambaram did not extend a March 31 deadline for the trusts to get regular tax exemption through the Employees' Provident Fund Organisation.
Fifty per cent of bank restructured assets were in infrastructure, steel, power and telecom sectors.
BofA-ML revised its end-2015 rupee-dollar forecast to 60 from 64 earlier.
'Trust your new governor,' Omkar Goswami advises RBI Deputy Governor Viral Acharya. 'Just because he is from the IAS and doesn't carry a PhD from a US university does not make him unsuitable for the task.' 'If anything, Das will pour oil on troubled waters, and save the RBI's reputation.'
Central banking is a science, not an art, Tamal Bandyopadhyay tells RBI Governor Shaktikanta Das.
RBI policy surely cannot impact agflation, in any case.
RBI Governor Raghuram Rajan on Tuesday said the government will decide on extension of his tenure.
"I think the Governor has been doing a great job for the country and we would certainly see it as a very positive move if he were reappointed," Naushad Forbes, president, CII.
Centre to take a call only in August, just a month before his three-year term ends.
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