It's crucial for Modi to make India an easier place to do business.
Rajan drew attention towards the Nachiket Mor committee on PSL and said that the RBI is trying to make the entire process more effective.
The poll of over 30 economists, taken in the past week, showed Asia's third largest economy will expand 7.8 percent in the fiscal year ending March 2017.
At least five state-run banks on central bank's radar for lax credit appraisal
Instructions were issued on holding loan camps in the last week of September.
'Trust your new governor,' Omkar Goswami advises RBI Deputy Governor Viral Acharya. 'Just because he is from the IAS and doesn't carry a PhD from a US university does not make him unsuitable for the task.' 'If anything, Das will pour oil on troubled waters, and save the RBI's reputation.'
Voting for the 2014 general elections will begin in April and it is expected Budget 2014-15 will be presented in June.
The idea is to boost household savings and turn more of them into growth capital. If the plan succeeds, sustained eight per cent-plus rates of gross domestic product growth should be within reach in a few years.
Discussion paper fixes Rs 1,000 cr as minimum capital for these specialised banks
Subbarao said he would be "ok" if a sovereign bond issue in foreign currency is done once just to test the waters, but cautioned against using the instrument regularly.
RBI wants periodic revision of the pensions for its retired employees.
.jpg)
As many as nine respondents said RBI would hold the repo rate at 8% till March-end, 2015
RBI has pegged the GVA growth of 7.6 per cent for the current fiscal and 7.9 per cent the year after
This gains importance in the backdrop of speculation on a second term for Raghuram Rajan.
Economy improving but long way to full recovery, says FSDC.
'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.
The banking sector is set to move at a fast pace from hereon.
RBI declines to accede to plea, upheld by Padmanabhan panel, for priority sector tag; feels move would dilute claims of those needing it more.
Progress on the steps taken by Governor Shaktikanta Das' predecessor Urjit Patel to restore financial system integrity will be a key thing to assess any damage to the institution, Subramanian said.
EC received the RBI proposal in the first week of this month, soon after the model code of conduct came into force on March 5.
Bihar Chief Minister Nitish Kumar today slammed the Congress saying it has put the issue of special category status for Bihar on the "back burner" under the influence of its "natural ally".
The RBI holds its next policy meeting in early June.
RBI Governor Raghuram Rajan has noted the contradiction.
SBI is the first major state-run bank to hike lending rates after short-term rates rose as a result of the Reserve Bank of India's liquidity tightening moves announced in July.
Dy Governor notes it's an era of job changes for better.
The RBI governor-designate may be economical with spoken words, but is known for his sharp and critical writings
The RBI now brings in important and contentious changes directly through voluminous Master Directions, or Master Circulars
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
M V Subramanian says there is an imperative need for collective responsibility to tackle inflation, prices and availability of essential commodities, and not rely on inflation targeting alone.
This comes after the arrest of Syndicate Bank Chairman S K jain.
The finance minister chided the central bank on Tuesday over its focus on fighting inflation, saying the Reserve Bank of India (RBI) also needed to abide by the government policy to promote economic growth.
Rupee, bonds may see knee-jerk reaction, as Urjit Patel is considered an inflation warrior
Mergers to create at most six state banks
Fitch said the full implications of Patel's resignation will only become clearer once there is some indication of the RBI's policy approach under his replacement, Shaktikanta Das
.jpg)
At the retreat, PSBs had suggested the government cut its stake in these entities to less than 51 per cent over a period of time and empower the boards of individual banks.
.jpg)
Bankers remained ambivalent on the impact of Tuesday's policy announcement by Reserve Bank on the cost of funds and refrained from giving a guidance on the direction in which lending rates are headed.
The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
Managing expectations is a challenge for policymakers.
What is required from government is intellectual framework.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances