'Clearly, the depositors of cooperative banks need the maximum protection.'
The initiative is being called lateral recruitment to senior positions in the government.
Raghuram Rajan optimistic about passage of GST
'It is easy to dramatise the events of today, but it is far more important to focus on the fact that we have a radically overvalued financial sector. It is a house of cards.'
Lukewarm response from private investors and turf battles between government agencies have resulted in delaying Modi's ambitions. Sahil Makkar reports.
Piramal will join the JSW, Vedanta and Tata groups, which are bidding aggressively for distressed assets, especially in the infrastructure and steel sectors.
The shares - close to 30% of the total holding - are expected to list on rival National Stock Exchange on or around February 3.
"Fitch Ratings has placed Punjab National Bank's (PNB) Viability Rating of 'bb' on Rating Watch Negative (RWN), following the large fraud reported by PNB," the US-based agency said in a statement.
After allowing FDI by foreign carriers in their Indian counterparts, the government has put in place provisions to prevent Indian airlines from being controlled and managed by the foreign investor.
'The RBI is something like a seat belt. As a driver, the driver being the government, it has the possibility of not putting on a seat belt but of course if you do not put on your seat belt you get into an accident and the accident can be quite severe,' Raghuram Rajan told CNBC TV18. 'The aim of the board is to be Rahul Dravid -- sensible, thoughtful and not, with due respect, Navjot Sidhu,' he added.
Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate -- the rate at which banks park their fund with the central bank -- by 25 basis points to 3.75 per cent.
We are in this mess as the machinery of the government in a market economy is broken. We need technically sound banking regulation, so that capital is not misallocated, and the landscape does not get littered with zombie firms kept alive through evergreening, says Ajay Shah.
The institute's incubation cell claims the start up mortality rate in the incubators are lowest.
These dedicated COVID-19 facilities will have a capacity of 1,06,719 isolation beds and 12,024 ICU beds reserved for such patients in the country.
Singh asserted that the domestic challenges of India's economy were daunting in their complexity and devastating in their impact on the society.
The Reserve Bank of India on Monday directed all banks and financial institutions to provide information and documents sought by the Special Investigation Team (SIT) set up to unearth black money.
BMA's clients allege that depository firm CDSL and stock exchanges did not act on their complaints, prompting them to protest before Sebi. They say their shares have been transferred to a pool account without their knowledge and have been used to avail loans. Clients alleged that BMA has pledged their securities with a leading private bank, who could have sold their holdings.
Colleges are witnessing more offers, with better salary packages. Median salary packages offered have improved over last year.
Seven public sector entities including the Life Insurance Corporation and State Bank of India on Friday submitted expressions of interest to the Pension Fund Regulatory and Development Authority
In a bid to resurrect Air India privatisation, the government is planning to give flexibility to potential investors to decide on the humongous debt with the national carrier, a top official has said. The flexibility to potential investors on the quantum of the Rs 60,074 crore debt that they want to absorb will replace the current condition of the buyer taking over more than a third of the debt and transferring the rest to a special purpose vehicle, Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey said.
Five of the 10 best-paid independent directors belonged to the Tata group, followed by four from Reliance Industries and one from Wipro.
There are about 5.7 crore small entrepreneurs.
Poor land-use planning, indiscriminate approvals of building plans and the absence of disaster-risk assessment in urban design have resulted in what experts term concentrated concretization, predisposing cities to disaster risks
The three promoters - Anil Kumar Sharma, Ajay Kumar and Shiv Priya - had diverted Rs 1,500-1,600 crore through bogus methods like loans and advances between group firms at inflated rates.
Some say the MPC will raise the rate, while others are of the view that there is already de facto interest rate tightening through rising bond yields, which might prompt the central bank to go for a pause.
Recent incidents suggest these safeguards perform well in simulated conditions and mock drills, but often fall short when actual threats emerge.
Several changes have been carried out in the existing rules or Civil Aviation Requirements, including one which clearly states that a passenger airline 'shall not enter into an agreement with a foreign investing institution or a foreign airline, which may give such foreign investing institution or foreign airlines or others on behalf of them, the right to control the management of the domestic operator.'
Be well prepared. Support your argument clearly, precisely.
Jignesh Shah, the promoter of Financial Technologies India Ltd, on Wednesday resigned from the board of MCX Stock Exchange, amid continuing Rs 5,600 crore (Rs 56 billion) payment crisis at group company NSEL.
'There will always be hiccups given that the Namami Gange programme is spread over different sectors and involves several agencies.'
The RBI expects change, presumably commencing in the next Budget, but must hold its current view until this actually happens.
ICICI Bank has quashed rumours of favouritism, nepotism and quid pro quo. The bank clarified that while Chanda Kochhar was on the credit committee, she was not the chairperson. Videocon Chairman Venugopal Dhoot said there was no impropriety in the deal.
'India's economic fundamentals are much too strong to be affected by his resignation,' says B S Raghavan.
Studying at these foreign destinations will not burn a hole in your pocket.
Mumbai is the financial capital of India, but it has the potential to become global financial centre, says Maharashatra CM Devendra Fadnavis.
The opening ceremony was held in China's financial capital.
'The quick fixes have failed; there is now no alternative to deeper reforms,' says Ajay Shah.
There is a lot of optimism across all markets and a large part of it is justified, says Samir Arora of Helios Capital Management.
The government is drawing up a relief package for industry with steps such as relaxation of asset-classification norms by banks, thus allowing companies to delay the repayment of loans, and tax holidays for the worst-hit sectors like aviation and hospitality. But it might not be enough to stop more bankruptcies from getting filed.
In 2019, the growth in sales of the Maggi brand of products surpassed the pre-ban level of 2014, in terms of both volume and value. While, Nestle raised prices of Maggi products by an average 3.1 per cent, its volume rose by 9.6 per cent year-on-year.
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