Uber had run into trouble with the RBI over the two-payment process
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
The new pay scale will come into effect from January 1.
Government spokesperson and Information and Public Relations Minister Sapam Rajan said that the government is making efforts towards this end.
'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
The Reserve Bank on Tuesday nudged banks to cut lending rates.
Rajan further said the current account deficit would be better in June than in May.
There is little scope for significant monetary easing even in the next fiscal year.
Underworld don Chhota Rajan's aide Rohit Thangappan, who was behind bars for the murder of senior scribe Jyotirmoy Dey, was on Wednesday arrested in connection with a firing case involving a hotelier, two days after a local court sought his production, the police said.
The decisive election victory for the Narendra Modi-led National Democratic Alliance has created a conducive environment for policy actions and should help in economic recovery, Reserve Bank of India Governor Raghuram Rajan said on Tuesday.
His team has projected a higher growth of 6.1-6.7 per cent in the next fiscal.
Calls for a rethink on why some sectors should get more easy credit than others
RBI has kept interest rate unchanged at 8 per cent since January
Rajan also said the RBI had reduced the current account deficit "substantially".
With the 'busy credit season' which witnesses a spurt in loan demand going up, it would be good to lower the rates ahead of it
By March 28, the reserves rose by a whopping $5.038 billion to $303.673 billion, the second highest in the fiscal.
Will seek to bring inflation to the mid-point: Rajan
he feels they are prone to misuse by borrowers, including farmers, and suggested a rate ceiling for loans by micro finance lenders.
He called on developed countries to play their part in restoring international monetary cooperation.
The government's step to curtail fiscal deficit is helping the central bank's monetary policy, Rajan said.
According to report by Dun and Bradstreet, central bank expected to maintain status quo on policy rate.
The government-appointed Financial Sector Legislative Reforms Commission (FSLRC) has recommended a slew of reforms to overhaul the sector.
Gujarat Giants will be wary of Royal Challengers Bengaluru's newfound firepower in the middle-order when the teams clash in the Indian Premier League in Ahmedabad on Sunday.
The Central Bureau of Investigation has taken over the probe into the murder of Hanif Kadawala, an accused in the 1993 Mumbai blasts case who gave an AK-56 rifle to actor Sanjay Dutt, and registered a case against gangster Chhota Rajan and his accomplices in this regard.
The convertibility is RBI Governor's 'next big ambitious goal'.
The policy will be presented in the backdrop of rising inflation.
RCB on paper look like a team that can make it to the playoffs and with Dinesh Karthik playing his last IPL, Faf turning 40 and Kohli and Maxwell in their mid-thirties, the Challengers will be determined to win it for the veterans of the team.
RBI could opt for a 'deep cut' after winning inflation war, say experts.
The vehicle, a Tavera, was on its way to Jammu from Srinagar and it fell into a 300-foot gorge at the Battery Cheshma area of the district around 1.15 am, they said.
Special Judge A L Pansare allowed CBI's plea seeking nod to question the 54-year-old crime boss for 10 days starting January 27 before adjourning the case till February 5.
"The issue in Iraq is still an area of uncertainty.
Says impact of crisis in China won't be as big here as in some other countries
RBI Governor Raghuram Rajan, who today surprised markets with a rate hike, defended the move saying a rate cut would not have impacted either banks or borrowers and that bringing down retail prices is the key to sustainable growth.
The exercise will continue till 6 pm in all the polling stations except those in Maoist-affected areas of Balaghat, Mandla and Dindori districts where it ended at 3 pm, an official said.
Yash Dhull was on Monday removed as Delhi captain, hours after the team suffered a heavy defeat against Puducherry in their Ranji Trophy opening match.
From a maths perspective, Royal Challengers Bengaluru and Gujarat Titans can still reach the IPL playoffs, but they need to ward off inner gremlins on Saturday to notch a mandatory win to keep that dream flickering.
Swamy now wants Arvind Subramanian, one of the front runners for the post of the new RBI governor to be sacked.
"My remarks are motivated by the desire for a more stable international system, a system that works equally for rich and poor, large and small, and not the specifics of our situation," Raghuram G Rajan, Governor, Reserve Bank of India said at the Brookings Institution on April 10, 2014.
NITI Aayog's Rajiv Kumar accused former prime minister Manmohan Singh and senior Congress leader P Chidambaram of creating a 'false narrative'
The remarks come amid speculation that Rajan had feared elimination at the hands of Chhota Shakeel, the closest aide of underworld don Dawood Ibrahim.
