The actor conducted an elaborate pooja in a temple in Panvel, near Mumbai.
Rajan was expected to join the search committee to appoint three external members of a new six-member RBI Monetary Policy Committee
Rakesh Meena, Umesh Kumar, Prem Vikas,Anees Mohan and Sanjiv Kumar, are worried engineering students of Patna-based National Institute of Technology.
As banks improve their risk management systems, the intermediation cost as well as potential NPAs will come down.
The government needs to improve its tax collections and rationalise user charges for services to generate resources for infrastructure investment even as the economy is showing signs of picking up.
Reserve Bank of India Deputy Governor Rakesh Mohan said on Friday that government revenues rather than expenditure were a fiscal concern.
Reserve Bank of India expects the average annual inflation to come down to 2 to 3 per cent in the coming years, its deputy governor Rakesh Mohan said on Monday.
'With his stature as a playwright and actor, Girish Karnad was one of the voices of modernity for not just Karnataka but the entire country.'
The Indian insurance sector is lacking adequate specialised skilled professionals in areas like actuarial science and treasury management, the Rakesh Mohan Committee on Financial Sector Assessment has said.
Reserve Bank of India Deputy Governor Rakesh Mohan said on Wednesday that the repo rate would not be cut right now.
The second post of deputy governor became vacant after V Leeladhar superannuated a few months ago. Punjab National Bank chairman and managing director K C Chakrabarty is to take over as deputy governor on Monday. Apart from monetary policy, Subbarao will also handle the department of economic analysis and policy, department of statistics and information management.
With things looking bright for the crisis-hit Commonwealth Games, a song was released in New Delhi on Wednesday encouraging the youth of India to create a positive atmosphere around the Games.
Most central banks across the world have around 5-7 years of tenure for the governor and deputy governors.
A look at Telugu releases this Christmas!
The post of deputy governor (for economist) in RBI has been lying vacant since mid-June after Rakesh Mohan quit months ahead of his retirement.
Finance Minister P Chidambaram held informal consultations on Wednesday on possible candidates for the Reserve Bank deputy governor's post.
Reserve Bank of India Governor D Subbarao on Tuesday said that unwinding of excess liquidity would need to be carefully calibrated once the economy recovered.Comparing the RBI's steps with other central banks, Subbarao said the speed and scale of monetary response was more aggressive than many other countries.The RBI has lowered the repo rate, the rate at which it lends to banks, from a peak of 9 per cent to 5.5 per cent in less than five months.
The current financial crisis originated in advanced economies, and therefore its impact is witnessed across the globe, a top Reserve Bank of India (RBI) official said on Friday.
Punjab National Bank CMD K C Chakrabarty has quit his post after his appointment as RBI Deputy Governor. "K C Chakrabarty has demitted office on June 14, 2009 on his appointment as Deputy Governor, Reserve Bank of India," PNB said in a filing to the Bombay Stock Exchange.
RBI had also raised the time-limit for availing low-cost export (pre-shipment) credit from 180 days to 270 days to encourage exports and had promised to take more measures if necessary. In the last one month, RBI has injected liquidity to the tune of Rs 2,70,000 crore (Rs 2,700 billion) by cutting the Cash Reserve Ratio by 350 basis points and Statutory Liquidity Ratio by 100 basis points.
Non-BJP chief ministers are retaliating. If the Centre can use its agencies to threaten, intimidate and jail its rivals, so can they. The fightback will get more intense, observes Shekhar Gupta.
Bankers have suggested that the Reserve Bank of India lower the statutory liquidity ratio and the cash reserve ratio as the present liquidity crunch is affecting their business. During the mid-term resource management discussion with the RBI team led by Deputy Governor Rakesh Mohan, the country's top bankers said the tight liquidity condition was pushing up the cost of funds and putting further pressure on margins.
Now for the first time, the top team in North Block has the predominance of IAS officers.
The panchayat polls will be seen as a kind of verdict from the hinterland for Yogi Adityanath ahead of the crucial 2022 Uttar Pradesh elections.
Repo rates determine deposit, and hence, lending rates. If the RBI wants banks to start lending in earnest, it needs to lower these to realistic levels, says Surjit Bhalla.
Bank chiefs told the RBI said they needed to mobilise deposits as they were facing additional demand for funds with other sources drying up. "When government schemes are offering 8 per cent rate, banks cannot go below that. If we cut rates further, we will not be able to attract fresh funds and will also face the prospects of depositors exiting in favour of small savings instruments," said a banker who attended the meeting.
Monetary measures by RBI, which last month hiked the percentage of depositors money that banks should park with it, have helped cool down credit offtake.
Reserve Bank Deputy Governor Rakesh Mohan on Friday asked industry chambers not to clamour for tax rate cuts, saying the rates were already moderate by international standards.
The Central Bureau of Investigation has booked 16 individuals for posting alleged defamatory material against Supreme Court and Andhra Pradesh high court judges on social media, taking over investigations from the state CID, officials said on Monday.
The deceased personnel, Bhailal (30) and Jairam (30), were in the bomb disposal squad vehicle of the Gujarat Police had taken a halt near Nathgram Ashram on Malkhanpur road under Sirsaganj area, when a speeding truck rammed into their vehicle, Superintendent of Police Rakesh Singh said.
Following is the schedule of Indian contingent on the sixth day of the Asian Games.
Reserve Bank Governor Y V Reddy met Finance Minister P Chidambaram in New Delhi on Tuesday and is understood to have discussed measures to tackle the rupee appreciation.
Has there been a resurgence of the manufacturing sector in India? Shankar Acharya has his doubts.
The elevated realty prices along with non-transparency in the real estate sector may lead to an 'asset bubble' and pose risks to the banking system, according to Reserve Bank of India Deputy Governor Rakesh Mohan.
High inflation not only hurts the common man but also deters fresh investments that are key to faster economic expansion, which makes containing prices an express requirement, the Reserve Bank of India said on Wednesday.
Reserve Bank of India said on Thursday it is looking at liquidity, inflation and credit growth to see if it will have to take more steps to tighten monetary conditions.
India will export anti-malarial drug hydroxychloroquine, high in demand globally, only to foreign governments and not to private companies, as the product is under prohibited or banned category of exports, sources said. Although exports of this medicine is completely banned, India has decided to export this anti-malarial drug in sync with its global commitment to deal with the coronavirus pandemic.
In a meeting with Reserve Bank of India Deputy Governor Rakesh Mohan on Monday, bankers expressed concerns that interest rates had not shown signs of softening despite ample liquidity and overnight rates being at close to 1 per cent levels.
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