Former Reserve Bank of India Governor Bimal Jalan on Thursday ruled out the possibility of his becoming the next finance minister, saying he did not belong to any political party.
The main difference of opinion between RBI and FinMin is over the transfer of the RBI's 'excess' capital reserves. The Jalan panel seeks to convince finance secretary Subhash Garg to soften his dissent note language. The move is aimed at maintaining the now-cordial relations between the RBI and the finance ministry.
Former RBI Governor Bimal Jalan on Wednesday said the Congress leader Manmohan Singh was assuming the office of the prime minister at a time when the country was facing "huge challenges" in the political, economic and social spheres.
Garg had refused to sign on the report finalised by the former Reserve Bank of India governor Bimal Jalan-led committee reviewing the central bank's economic capital framework (ECF).
Former governor of the Reserve Bank of India Bimal Jalan on Saturday said that taxing FII inflows will not serve any purpose and his successor Y V Reddy was misquoted on this issue.
Lalit Jalan talks about his relationship with the Ambanis and why the honeymoon is over for infrastructure firms.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
The committee was appointed by market regulator Sebi in December 2009 to review the ownership and working of capital market infrastructure institutions.
The panel will include Economic Affairs Secretary Subhash Chandra Garg and RBI Deputy Governor N S Vishwanathan.
The economy can grow by 8.0 per cent if the government improves the public administration and delivery systems, carry forward legal reforms and implement policies promptly
Reserve Bank of India Governor Bimal Jalan said on Saturday the fiscal deficit remained a difficult problem but overall macro-economic conditions were favourable for accelerating growth.
Reserve Bank of India governor Bimal Jalan said on Tuesday that the central bank was comfortable with the current level of inflation and was not worried about a recent rise in the rate.
Reserve Bank of India governor Bimal Jalan said on Saturday the bank would maintain its soft monetary policy.
Reserve Bank Governor Bimal Jalan on Monday held a meeting the bankmen's unions in order to address the problems faced by the bank employees in issuing clean currency notes to the public.
Reserve Bank of India Governor Bimal Jalan on Wednesday said the apex bank's stance on soft interest rate environment will continue while it will remain flexible for repo rate.\n\n\n\n
Borrowing from a fraudulent loan app subjects the borrower to a variety of risks.
Reserve Bank of India Governor Bimal Jalan said on Wednesday that the central bank had a soft and flexible stance on altering the repo rate if monetary conditions warranted.\n\n\n\n
Reserve Bank of India Governor Bimal Jalan said on Friday that current crude oil price levels were not a cause for worry.
More than five years ago on an April evening, cash-starved Jet Airways announced temporary grounding of operations after flying as a full service airline for 25 years. Since then, more than 20,000 jobs and money worth thousands of crores owed to lenders, vendors and passengers evaporated while awaiting an insolvency resolution. And today, the Supreme Court ordered the airline's liquidation, marking the formal completion of a turbulent journey into the sunset and shattering lean revival hopes.
Reserve Bank of India chief Bimal Jalan said on Friday he was not considering a cut in the short-term repo rate, but added he was in favour of a soft monetary policy bias.\n\n\n\n
There has been a convergence between what the markets expected and what was announced in the Credit Policy.
Reserve Bank of India governor Bimal Jalan said on Monday there was no urgency to review the central bank's stance on the bank rate as announced in its October credit policy statement.\n\n
'I think today RBI supervision is much sharper than what it was earlier.'
Jalan expressed concern over individual ministers, some of them politically heavyweights, taking vital decisions without taking the Cabinet into confidence.
The report of the committee could be taken up at the next meeting of Securities and Exchange Board of India.
The government on Tuesday proposed reducing the long-term capital gains tax on immovable properties to 12.5 per cent from 20 per cent, but removed the indexation benefits to adjust for inflation, a move experts termed as "negative" for sellers.
Reserve Bank Governor Bimal Jalan on Saturday asserted the economy would achieve higher growth rate this fiscal in the face of strong economic fundamentals and good monsoon.
Amidst a debate in the government over investment of employees' provident funds in the stock market, former RBI Governor Bimal Jalan cautioned that any such move will have to be backed by a government assurance for making up for losses, if any.
"This year (2009-10), our WPI is low and I don't see any problem on the horizon which could destabilise us except oil prices which remain a question," said Rajya Sabha MP and former Reserve Bank Governor Bimal Jalan. On the high fiscal deficit, Jalan said he did not think stimulus packages posed a problem. On taxation, he said it would not be good for the country not to have a reasonable rate of tax on profit and dividend.
The Reserve Bank of India, which is scheduled to review the monetary policy on October 30, should not do anything that might make the economic fundamentals of the country uncomfortable, former RBI governor Bimal Jalan said on Tuesday. The central bank is facing a tough task of keeping the economic growth going while keeping inflationary pressures under control.
No inflationary pressure in near future: Jalan
Reserve Bank of India governor Bimal Jalan reiterated Monday the bank's soft monetary bias but said there was no immediate plan to cut the short-term repo rate.
