Perhaps because the Modi government had some differences of opinion with two of the economist governors (one of whom was appointed by the Manmohan Singh government), there is a view that its political leadership prefers a civil servant to head the RBI, notes A K Bhattacharya.
RBI Governor Bimal Jalan today inaugurated the currency verification and processing system for faster and secured processing of soiled currency notes at the Mumbai office of the central bank.
An interview with author of the report on the working of stock exchanges and other market infrastructure companies
RBI Governor Bimal Jalan said on Friday that the gross domestic product growth could be between 5-5.5 per cent in the current fiscal.
Reserve Bank of India governor Bimal Jalan said the country would have no problems in meeting its oil bill in the event of a war in Iraq.
Lenders of bankrupt airline Jet Airways, led by the State Bank of India (SBI), on Thursday told the Supreme Court that successful bidder Jalan Kalrock Consortium (JKC) was "unwilling" to pay the dues and that the "liquidation" was the only option left. The bench led by Chief Justice of India (CJI) DY Chandrachud was hearing the SBI-led consortium plea against the NCLAT's March order upholding ownership transfer of the bankrupt airline to JKC.
At least 95 per cent of Jet Airways employees will have to give their consent to the Kalrock-Jalan consortium's proposal or lose benefits offered to them under the revival plan. Voting on the consortium's offer for employees and workmen began on Monday and will go on till August 4. The National Company Law Tribunal cleared the consortium proposal to revive the airline on June 22. While Jet Airways had admitted claims of around Rs 15,000 crore, the consortium has offered to settle claims of Rs 475 crore of financial and non financial creditors.
The report contains names of entities eligible for bank licences. It was not immediately known how many applicants have been shortlisted by the high-level advisory panel.
A possible US-led war against oil-rich Iraq is likely to have a limited impact on Indian interest rates and inflation, central bank governor Bimal Jalan said
The Supreme Court on Thursday directed Jalan-Kalrock consortium, the new owners of the cash-strapped Jet Airways, to deposit Rs 150 crore in SBI's escrow account by January 31, saying failure to do so will mean that the consortium is not in compliance with the terms of the resolution plan for reviving the airline. The top court, meanwhile, also refused to allow the separate plea of the Jet Aircraft Maintenance Engineers Welfare Association seeking payment of provident fund and gratuity dues, observing if additional money is awarded, the resolution plan will become "unworkable". The consortium, as per the lawyers for the workmen, has to pay over Rs 200 crore towards dues on account of PF and gratuity.
Ace Aviation, which has been fighting Jet Airways for the acquisition of three Boeing B777 aircraft, said that it has acquired another aircraft for the conversion slot in early February 2025.
Returns on government securities are likely to be market-determined as the Reserve Bank of India on Friday asserted that it is not targeting any yield.
Reserve Bank of India Governor Bimal Jalan on Friday said that there was no dearth of liquidity in financing the infrastructure projects in the country.
'Most crises take place because locals take their money out, not because only foreigners do'
The ban on listing and other roadblocks on ownership have tainted the Jalan Committee report.
The Delhi high court on Monday said Trinamool Congress leader Mahua Moitra cannot be prevented from defending herself against allegations made by an estranged friend in public domain as long as her statements are not objectively false.
Goods and Services Tax collections jumped 10.4 per cent to over Rs 1.72 lakh crore in January, reflecting buoyant economic activity and setting the stage for the next phase of GST reforms. This is the second-highest monthly collection ever and marks the third month in this financial year with a collection of Rs 1.70 lakh crore or more, a finance ministry statement said on Wednesday.
It also recommended that the RBI accounting year (July-June) may be brought in sync with the fiscal year (April to March) from the financial year 2020-21 as it could reduce the need for interim dividend being paid by the central bank.
Reserve Bank of India governor, Bimal Jalan, said on Monday there was no proposal to cut the repo rate as of now and added the bank's bias towards soft rates would continue.
The Reserve Bank on Wednesday approved a Rs 2.11 lakh crore dividend payout to the central government for 2023-24, more than double the amount it paid for the previous 2022-23 financial year. The decision was taken at the 608th meeting of the Central Board of Directors of the Reserve Bank of India held under the chairmanship of Governor Shaktikanta Das.
Reserve Bank of India governor Bimal Jalan said on Monday the economy was likely to grow 6 per cent in the current financial year.
The Reserve Bank of India will maintain a soft interest rate bias, the central bank's Governor said
A high-level panel led by former RBI governor Bimal Jalan, set up to decide the appropriate capital reserves that the central bank should maintain, on Wednesday finalised its report.
The Jalan panel has recommended to the RBI to keep shady entities out of banking licence race.
The Supreme Court on Wednesday asked the Jalan-Kalrock consortium, the new owners of cash-strapped Jet Airways, how much have they paid towards dues on account of provident fund and gratuity to the former employees of the troubled airline. The top court made the query while commencing the hearing on a batch of petitions, including the one filed by the Jet Aircraft Maintenance Engineers Welfare Association, against the October 21, 2022 order of the insolvency appellate tribunal NCLAT.
Jammu and Kashmir Chief Minister Mufti Mohammad Sayeed met Reserve Bank of India Governor Bimal Jalan on Tuesday and discussed the issue of reviving nationalised banking operations in the state.\n\n\n\n
Jet's air operator certificate will lapse on May 19.
The Bank Economists' Conference -- the most important event in Indian banking -- gets underway in Bangalore on Friday.
India Inc on Thursday pitched for lowering income tax burden on common man, increase in capital expenditure, and firm steps to contain food inflation in their nearly two-hour long interaction with finance minister Nirmala Shitharaman ahead of the Union Budget. During pre-Budget consultation with Sitharaman, the industry leaders and associations also urged the government to focus more on infrastructure development with a view to maintaining the economic growth momentum. The industry leaders also laid stress on boosting the MSME (micro, small, and medium enterprises) sector, considered a backbone of the Indian economy and main employment generator.
The central government's fiscal deficit during 2023-24 at 5.6 per cent of the GDP was better than previous estimates of 5.8 per cent on account of higher revenue realisation and lower expenditure, according to official data released on Friday. In actual terms, the fiscal deficit -- or gap between expenditure and revenue -- was Rs 16.53 lakh crore, or 5.63 per cent of the GDP, which grew 8.2 per cent in 2023-24.
Outgoing Reserve Bank of India Governor Bimal Jalan talks about market realities like fall of gilt yields and the importance of creating investment fluctuation reserves by banks.
Jet Airways CEO-designate Sanjiv Kapoor has quit the grounded airline, according to a source. He had joined the airline as the chief executive officer in April last year. The source said that Friday was the last working day for Kapoor at the airline.
Bimal Jalan, has recommended to the government that it cut fiscal deficit to 3.6 per cent of the GDP during 2015-16.
The stock of Mahindra & Mahindra (M&M) has been touching successive all-time highs on the bourses and, over the past year, gained 81 per cent. While the S&P BSE Auto Index has not performed poorly, registering gains of 73 per cent, it still trails the company by 800 basis points (bps) during this period. There are multiple reasons why investors are beating a path to M&M's counter.
Jet Airways will be able to take to the skies once again, after aviation regulator DGCA on Friday granted it a revalidated air operator certificate, allowing the airline to resume commercial flight operations.
