I am not sure if Modi can ever act as a chowkidar, even if he wants to. But he can surely act as a thanedar, by ensuring a fast resolution of corruption cases once they come to light. Exemplary action is easier and will burnish his anti-corruption image, argues Debashis Basu.
Governments that do not respect central banks' independence will sooner or later incur the wrath of the financial markets, ignite economic fires, and come to rue the day they undermined an important regulatory institution; their wiser counterparts who invest in central bank independence will enjoy lower costs of borrowing, the love of international investors, and longer life spans, said Acharya, who will return to the New York University's Stern Business School in August.
'India finds itself in an unenviable situation today with its prospects diminished by acutely polarised domestic politics and the setbacks suffered during the pandemic,' notes Ambassador Shyam Saran, the former foreign secretary.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
The NSE Nifty gained 77.85 points, or 0.71 per cent, to finish at 11,008.30. Intra-day, it shuttled between 10,821.55 and 11,035.65.
Ajay Banga is one of the nine members of the Commission on Enhancing National Cyber Security.
The recent report in the New York Times that China had brought India's financial capital - Mumbai - to a halt by hacking the electricity supply grid has not come as a surprise to the CTOs (chief technology officers) and cyber security experts. Indian companies, including critical infrastructure providers such as power grids, ports and radar systems, lack the IT infrastructure to prevent hacking from hostile state actors like China and North Korea, warn security experts. Recently, the United States government warned of yet another breach of critical systems tied to Microsoft Exchange email systems that the company has blamed on China. The breach has impacted thousands of organisations in the US and its impact on India is still unknown.
'There will be political opposition, and this monetisation will require continued political will.'
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.
There has been a welcome focus on fundamental reforms, time-bound programmes that fix accountability and the use of technology. The upcoming Budget could build on these initiatives, says Abhas Jha.
'When we say we want to increase pension participation, do we want to increase participation through the savings route?' 'Or do we want people to save in specific pension products?' asks Renuka Sane.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
At the outset, decide whether you want to be a trader or an investor, suggest Sarbajeet K Sen and Sanjay Kumar Singh.
The oil crisis could not have come at a worse time for the Modi government as its tax collection has fallen short of its 2020-2021 target by Rs 5.2 lakh crore.
Reduce the government stake in public sector banks to 33 per cent, recommends A K Bhattacharya
'EV-charging is the next big opportunity after fuelling'
Meanwhile, the US refrained from making any comment on the move to set up the development bank aimed at reshaping the international financial system dominated by the West, saying that the details are yet to emerge.
Though the 2000 year-old shrine remains closed in line with the national lockdown, all rituals are being conducted uninterruptedly and flawlessly by the priests
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
In the new decade, the scene will change because the banks till recently had been challenged by the fintechs, but the techfins have now entered the arena, observes Tamal Bandyopadhyay.
The second-year BSc (Honours) in Mathematics student had returned from Delhi in March this year after those staying in the hostel were asked to go home by the college authorities in view of the COVID-19 pandemic.
'The coronavirus epidemic highlights the need to start thinking more actively about multilateral coordination, including, but not confined to, health emergencies and climate uncertainties,' says Rathin Roy.
The government is set to ask PSBs to expeditiously introduce repo-rate linked products "to step up affordable credit".
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
The finance ministry also said the maximum funding will be Rs 400 crore for any single project that will be seeking assistance from the 'special window' for completion of the 1,508 projects comprising about 4.58 lakh units.
During his time as executive chairman, the company's net revenues grew 17-fold to Rs 42,777 crore and profit after tax nearly 40 times to Rs 10,289 crore. Total shareholder returns grew at a compounded annual rate of around 20%. Besides numbers, his biggest achievement was to transform ITC from a cigarette company to a diversified enterprise.
'It came out of China and it could have been stopped and I wish they had stopped it and so does the whole world wish they had stopped it'
The latest circular from BSE that sought to cap the price movement of select scrips, especially the mid-, small-cap segments, traded on the exchange is not without a reason. A quick calendar year-to-date price check on the stocks from the categories put under 'Add-on Price Band Framework' by the BSE reveals a total of 210 stocks have seen their market price more than double. Among individual stocks, SC Agrotech, Adinath Textiles, Waaree Renewable Technologies, Steel Strips Infrastructure, Unistar Multimedia, Texel Industries, Raja Bahadur International and Hindustan Everest Tools from the BSE's X and XT group have rallied over 500 per cent during this period. Topping the charts is Gita Renewable Energy, which has zoomed 3,964 per cent to Rs 272.35 now from Rs 6.7 as on December 31, 2020.
The airline had raised Rs 700 crore from the debt market through a non-convertible debenture issue and the same was up for interest payment or redemption on Thursday.
Their research paper on aid by rich nations got leaked
The average rate of COVID-19 vaccination in the country has been 10.8 million per week. At that rate, it will take India till December 2024 to complete two billion doses.
The panel suggests the government be authorised to raise the thresholds, which trigger applicability of Corporate Social Responsibility provisions.
'The question is really can we prevent half a million deaths.' 'We are fast approaching that number.'
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Switzerland has been making efforts to strengthen its bilateral cooperation with India .
India's economy is not like Western ones, and thus needs restrained fiscal policy even during a recession, says Ajay Shah.
'Start-ups that generate a majority of their income in India are likely to opt for an Indian listing.'
Weeks after confusion over three Mauritius-based funds whipsawing shares of Adani group firms, billionaire Gautam Adani on Monday said that "twisted narrative" seems to imply that companies have regulatory powers over their shareholders and can compel disclosures. Shares of port-to-energy group nosedived last month after reports that accounts of three of the six Mauritius-based funds that have invested most of their money in Adani group firms had been frozen by the national share depository. The three funds owned about $6 billion of shares across the conglomerate.
