The RBI working group's proposal to allow corporate houses to set up banks is a "bombshell" and at this juncture, it is more important to stick to the tried and tested limits on involvement of business houses in the banking sector, according to an article jointly written by former RBI Governor Raghuram Rajan and ex-Deputy Governor Viral Acharya. They also said that the proposal is "best left on the shelf".
"I'm taking a minute to respond... I do respect Raghuram Rajan as a great scholar who chose to be in the central bank in India at a time when the Indian economy was all buoyant," Sitharaman said during the lecture organised by the Deepak and Neera Raj Centre on Indian Economic Policies of the Columbia University.
'Too many things happen in India... that is the root of the problem, not Raghuram Rajan'
When the team later reached the flat where they were staying, Chhota Rajan asked them to leave immediately, saying the operation was leaked to Dawood Ibrahim.
Continuing his tirade against Raghuram Rajan, BJP MP Subramanian Swamy on Friday said RBI Governor's policies have finished small industries and are anti-agriculture.
Rajan said whatever answer he gives on Modi will be 'problematic'
RBI Governor Raghuram Rajan stressed that trade, immigration and capital flows must not be hindered.
Even before Prime Minister Narendra Modi swept to power in 2014, Subramanian Swamy was agitating for Rajan's removal.
Rajan's last day at Tata Sons, where he has worked since the 1990s, will be March 31.
Shaktikanta Das will demit the office on Tuesday after completing six years as the 25th Governor of the Reserve Bank of India. Revenue Secretary Sanjay Malhotra will replace him as the 26th Governor. He was appointed as the Governor on December 12, 2018, after the abrupt exit of Urjit Patel.
'The critical event signalling a new era for India was Dr Singh's 1991 Budget in which he quoted Victor Hugo to say that no power on earth could stop an idea whose time has come,' recalls T N Ninan.
Land, houses and other infrastructure facilities required for the rehabilitation procedure would be constructed at the earliest, the authorities said.
Raghuram Rajan is said to have informally written to select policymakers and experts, to curb 'unnecessary' speculation over his future at RBI.
Even if Modi had wanted Rajan out, the government could have done it with some finesse and tact.
As heavy rains continue to lash Kerala, the India meteorological department on Friday issued an orange alert in eight districts in Kerala for Friday.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The government seemed unhappy with Raghuram Rajan's interest rate policy.
"I think, this is something that all Indians should be concerned about because strength of our institutions is really important for our growth, sustainable growth and equity in the economy," said Rajan.
Thanks to Rajan we are an inflation-targeting country now
'Naseer does not have the sense of humour that Om Puri has. 'Also Om has a great deal of compassion as a human being. Naseer was too focused on his own self.' A fascinating excerpt from Sangeeta Datta's book, Shyam Benegal.
Rekhachitram is the latest in an assembly line of films that use the period setting and mythic allure of the past to drive home the suspense of relatively straightforward genre stories, notes Arjun Menon.
You can e-mail your pictures to getahead@rediff.co.in (My Lord Ganesha Pix) with your name, location, details about your Lord Ganesha and what this festival means to you. We will publish the best entries right here on Rediff.com.
Rajan said that while there were talks about Jan Dhan, it was difficult to target transfers to people through this tool. Jan Dhan, he said, does not really work as advertised.
Six out of eight monetary policies announced by him during his entire tenure so far have been on Tuesdays
Terming the 23.9 per cent fall in economic growth in the June quarter alarming, former Reserve Bank Governor Raghuram Rajan has said bureaucracy should come out of complacency and take meaningful action. The current crisis requires a more thoughtful and active government, he said, adding, "Unfortunately, after an initial burst of activity, it seems to have retreated into a shell."
As the global economy sways into uncertain territories and domestic prices almost certain to rise, Raghuram Rajan's ideas would have come in handy.
To a question related to RBI's policy rate, Rajan said no amount of interest rate cut is going to help if credit growth is weak.
Rajan said the process of dialogue with the government did not reach a stage where he could have agreed to stay on
Of the ruling alliance Mahayuti, NCP ministers Dilip Walse Patil and Chhagan Bhujbal filed the papers for Ambegaon and Yeola seats, respectively, while their cabinet colleague from the BJP
The country has come a long way in the process of financial inclusion, Raghuram Rajan said, but "still has a way to go".
The Central Bureau of Investigation has started questioning gangster Chhota Rajan in Tihar prison in connection with journalist Jyotirmoy Dey murder case.
The Maharashtra Assembly elections witnessed the continued influence of political dynasties, with prominent families retaining their strongholds across the state. The Thackareys and the Ranes emerged as dominant forces, securing victories in various regions. The Rane brothers, Nilesh and Nitesh, won in Sindhudurg, while Uday and Kiran Samant secured victories in Ratnagiri. In Mumbai, Aaditya Thackeray retained his Worli seat, while his cousin Varun Sardesai won in Vandre East. The results underscore the enduring power of family connections in Indian politics.
Raghuram Rajan said the head of the central bank should have a fixed tenure of more than three years as the current term was too short.
Making light of his critics, he also said there are people who send him 'anonymous thank you notes' even when he on a plane.
'Helicopter drop' was first proposed as an alternative to quantitative easing.
Rajan, as expected, furthered his predecessors' agenda and continued with the same resolution to make India's financial system safer, and direct the economy towards further liberalisation
Rajan said that even though inflation has breached the 6 per cent mark as against the RBI target of getting it down to 5 per cent by March 2017, the price rise scenario will ebb in future
Revealing his original name to immigration authorities when asked to step out of the queue at Bali in Indonesia landed underworld don Chhota Rajan in the security net and he was arrested soon after.
Gandhiji asked me if I had sufficient warm clothes in view of the coming cold season. I said yes. But he verified my statement by asking Miraben to search my bag to make sure. Such was Gandhiji.
There is a sharp difference between the total remuneration paid at the public sector and private sector entities
