A major criticism of the new law is that it can become an instrument of abuse as it confers the tax enforcement authorities with strong discretionary powers, says Paranjoy Guha Thakurta.
'The shadow banks are currently facing a liquidity and solvency crisis.' 'The danger is that it could potentially engulf the entire financial system because shadow banks have borrowed huge amount of money from banks, mutual funds, pension funds, and insurance companies.'
In a soon to be published book, 'Of Counsel: The Challenges of the Modi-Jaitley Economy,' former chief economic advisor Arvind Subramanian says though RBI has a good reputation, it does not mean it's always right, as for years, the RBI was unable to grasp the seriousness of the loan repayment problems or identify the prolonged frauds of Nirav Modi and the likes.
"It is about time that India and its institutions are protected from these 'institution wreckers'," said Jaitley.
India could gain four times over by winding up dysfunctional subsidies.
Women and children have been given short shrift with these crucial sectors facing substantive budgetary cuts, discovers Rashme Sehgal.
These recommendations are based on interactions held by the Banks Board Bureau with eligible candidates from PSBs towards appointment against vacancies in PSBs for the period 2018-19
'Amendments in the past have created fear. This will take it further.'
Banks in India must have a modern approach, suggests a panel comprising of banking bigwigs.
Whilst substantive public allocations have been made in the infrastructure sector, this strategy is plateauing due to the fiscal deficit constraint, capacity limitation of statal implementing agencies, the declining ability of PSUs, and the precarious situation of the Railways' operating ratio. It is, thus, high time to get the policy compass to point at rejuvenating private sector investments in infrastructure, says Vinayak Chatterjee.
At $37 per dose, the Pfizer vaccine is much more expensive compared to $3 per dose for the Covishield.
Reports suggest state-owned banks have lapped up Rs 40,000 crore, so far, using both bonds and equity instruments. The question, though, is whether there will be a perceptional change for PSB stocks.
Reduce the government stake in public sector banks to 33 per cent, recommends A K Bhattacharya
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.
Ambassador Venu Rajamony, who served as press secretary to President Pranab Mukherjee during his tenure, salutes the statesman and political legend, who passed into the ages on Monday.
The brand new bankruptcy process is being brazenly gamed by those with connections and money. The touts and fixers of the previous regime have been replaced by a new set close to this one, observes Debashis Basu.
ICAI intends to investigate the chartered accountants of PNB but the bank allegedly refuses to give the information sought.
Government sources in New Delhi said the neighbouring country's attempt to 'politicise' a humanitarian issue by its 'unwarranted' statement on Kashmir during the video-conference reflected 'very poorly' on it.
The non-oil, non-finance sector of the economy is under severe stress.
Nawaz Sharif was the last Pakistani prime minister to visit the US on an official trip in October 2015.
'The Swedish government would consider who will live, who will not die, in rationing coronavirus healthcare!' 'This means the 'biological age' would supersede the patient's chronological age as a potential guideline,' notes Ambassador M K Bhadrakumar
A few state-owned banks such as IDBI Bank, Union Bank, Indian Overseas Bank have announced results for FY14.
Slamming the Union budget as 'insipid' and lacking in stimulus for growth, the Congress on Saturday said it does not address the main issue of unemployment and describes the mindset of the government.
Maharashtra govt, California-based Zipline to launch the automated delivery service funded by Serum Institute.
'It will take a long time for people's memory to be misled by a prime minister who is so arrogant and who refuses to acknowledge his own faults.'
Officials said both the factions of the Hurriyat are likely to be banned under Section 3(1) of the Unlawful Activities (Prevention) Act, or the UAPA, under which "if the Central Government is of opinion that any association is, or has become, an unlawful association, it may, by notification in the Official Gazette, declare such association to be unlawful."
The DMK feels its genuine gestures have had no bearing on the governor's politico-administrative conduct, which is 'more political and politicised than administrative and Constitutional', observes N Sathiya Moorthy.
'Consolidation was part of the Indradhanush package.'
Over 5 million alumni from the Indian Institutes of Technology, Mumbai University and Institute of Chemical Technology, Mumbai, plan to raise Rs 21,000 crore to start the world's largest infection testing lab in Mumbai.
Double tax exemption on wages paid to women can encourage companies to hire, retain and compensate women better, argues Nitin Pai.
The improved outlook on the Government of India announced by rating agency Moody's might need to be viewed with some scepticism. There is no doubt the performance of the Indian economy has sharply improved from the deep trough it hit last year. But the ability of the second largest global ratings agency to assess an upside and downside before events make everyone wise about India has been dismal for a long time, as the chart shows.
A K Bhattacharya digs into the yet-to-be-public report on ways to curb black money and finds out that Modi's next moves could include action on dabba trading, hawala, and education.
The Budget will indicate where the Modi government stands on reforms, growth and development.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
He said the 'toxic combination of deep distrust, pervasive fear and a sense of hopelessness in our society' is stifling economic activity and growth.
'India's economic fundamentals are much too strong to be affected by his resignation,' says B S Raghavan.
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The policy will be announced shortly, Minister of State for Communications and IT Milind Deora said on Monday.
'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.
Prime Minister Narendra Modi has high hopes from the VibrantGujarat Summit.
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