The career bureaucrat-turned-central banker walked into the 19th floor corner room of the Reserve Bank on December 12, 2018. Since February 2019, the Das-led RBI has cut the repo rate by a whopping 135 basis points to support the sagging growth, including an unprecedented 35 bps reduction in August. As he completes one year at the helm, woes in the NBFC sector, overall health of the banking sector and steeply falling economic growth are among the major challenges that needs to be tackled sooner than later.
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
A key hindrance to a faster turnaround of these banks is the slow progress in the resolution of legacy bad loans and the need to build up provisions against those assets.
Let all the stakeholders, especially the government, remember that if the Make in India lion needs to roar and rise again, it won't happen unless India Inc rises too, points out Shekaar Subramanian.
Essentially a message movie, Jayeshbhai Jordaar masks its horror in humour to play out like an on-the-run road trip, observes Sukanya Verma.
If indeed the issues involved between the government and RBI are of immense public interest, why not make public the arguments of both the government and the RBI, irrespective of the outcome of the process, says Tamal Bandyopadhyay.However, the Act is silent on what happens if the governor's views differ from that of the government. If Patel does not want to budge from his stance the government can either see merit in the Governor's arguments and decide against going ahead with its plan or overrule him. My guess is that the issues raised by the government need to be sorted out not at the November 19 board meeting but between the Governor and the government, says Tamal Bandyopadhyay.
'The clean break between Russia and Europe that this foolish attack is creating may actually last long.' 'It will undermine Europe and benefit the US and China.'
Violence broke out on Sunday near Kallakurichi as protesters demanding justice over the death of a girl student went on a rampage setting fire to vehicles and indulged in stone pelting, in which police personnel also became the target.
'Every few days, I wake up with a sense of restlessness that time is running out'... 'We have created a due process for stressed assets to resolve, but there is no concrete plan in place for public sector bank balance sheets,' says RBI Deputy Governor Viral Acharya.
Question remains, what happens when the overseeing committees' members themselves are questioned by investigative agencies?
'No commercial bank will be allowed to fail. There is nothing to worry about.'
Unless controlled and contained, given the untested belief that the north Indian labour support and follow the Hindutva kind of political ideology, there is a potential in terms of ideological clashes with their Dravidian brethren in the local neighbourhoods, and it all escalating into violence, especially during election time, predicts N Sathiya Moorthy.
The BSF took cognisance of the video and tweeted that an inquiry has been ordered.
The CBI alleged that the supplier entered into criminal conspiracy with the unidentified GCF officials to supply duplicate spare parts.
Overseas bourses may take similar action and stop providing data on foreign indices and commodities traded in India, Ashish Chauhan, chief executive officer, BSE said.
The incident took place at Asawati village in the Faridabad parliamentary constituency where polling was held on May 12.
'In our ICUs, the majority are unvaccinated people.' 'Out of the hospital, in the community, we see that -- whether you are vaccinated or whether you're not vaccinated -- the symptoms are more or less the same.'
The Jodhpur district administration temporarily suspended internet services in the district as a precautionary measure after the clashes on Monday night.
The channels were suspended for 48 hours over their coverage of last month's communal violence in Delhi, with the official orders saying they covered events on February 25 in a manner that 'highlighted the attack on places of worship and siding towards a particular community'.
While IDBI Bank's 140 million customers and 1800-odd branches will come in handy for LIC to hawk insurance, the bank can use LIC's massive agent network to sell its retail loans. But if it is run the same way it had been in the past and LIC is a proxy of the government, then it has no future, says Tamal Bandyopadhyay.
The action against the Lucknow passport officer was a hasty reckless decision taken by an establishment playing to the gallery to appease the pseudo-secular elite of the country, the Lutyens Delhi lobby intent on discrediting the Hindu identity, and an action that blatantly violated the basic tenets of justice, argues Vivek Gumaste.
What connects P S Jayakumar of Bank of Baroda, V Vaidyanathan of Capital First Ltd and Chandra Shekhar Ghosh of Bandhan?
'We have promised to ensure reduced tax rates.'
Sri Lankan off-spinner Sachithra Senanayake has signed up with English county team Worcestershire, replacing Pakistan's Saeed Ajmal for the upcoming season.
'When the war against Ukraine that Putin started is not going the way he was expecting it to and his military options are getting onerous, a bit of nuclear sabre rattling is what he hopes will turn things around for him and Russia.'
'The 5.7% growth in the April-June period is an aberration because of GST.' 'Business activity in the last 15 days of the quarter was minimal or zero.'
Unlike in the past, when old private banks compromised upon underwriting standards to take on the bulk, they've now realised that scaling up at the cost of quality isn't worth the while. These banks have also readjusted growth targets when required, and rebalanced books to preserve capital and asset quality.
The Supreme Court on Tuesday stayed the arrest of Congress MP Shashi Tharoor and six journalists including Rajdeep Sardesai in connection with first information reports lodged against them for their alleged 'misleading' tweets on the violence during the farmers' tractor rally on the Republic Day.
Pakistan's off-spinner Saeed Ajmal failed to provide satisfactory results in an informal biomechanic test in light of his bowling ban, which has reportedly prompted the Pakistan Cricket Board to go on the back-foot to apply for his reassessment.
Finance Minister Arun Jaitley has said that the states were free to announce farm loan waivers if they had the fiscal space and that there would be no shortfall this year in divestment and non-tax revenues.
The accused, all Mumbai residents aged between 20 and 25 years, were nabbed late on Sunday night.
All of India welcomes the Light Combat Helicopter into the Armed Forces arsenal and wishes it a safe tenure and happy shooting. May it rule the skies and ensure that the enemies are given a fitting reply when the need arises.
Among bank groups, PSBs, which constitute the largest market share in bank lending, have accounted for the bulk of frauds reported in 2018-19.
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
Prompt refunds have been made for small amounts. For larger amounts, time has been sought till March 2018
Heading to the third year, will Urjit Patel be busy firefighting a currency crisis? Almost no governor of the RBI managed to evade it and Patel perhaps knows it.
Samajwadi Party supremo Mulayam Singh Yadav appears to be quite cut up with Congress vice president Rahul Gandhi over the latter's surprise visit to the relief camps for victims of communal violence in Muzaffarnagar and Shamli districts in Western Uttar Pradesh.
The guided-missile destroyer USS Dewey conducted a patrol within 20 kilometres of Mischeef Reef, part of the Spratly Islands.
The flying licence of the two pilots was suspended and a probe launched into the accident.
Amit Malviya, however, tweeted that he had only quoted a news channel.
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