Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
A committee headed by Patel recommended retail inflation targeting and a monetary policy committee.
Hinting that the Centre might provide special status to Bihar, Finance Minister P Chidambaram on Saturday declared to set up a committee to determine the new criteria for backwardness.
Raghuram Rajan said a six-member monetary policy committee will decide on interest rates.
This is the first time in the RBI's history that a governor is leaving without willing to renew his contract
The RBI is not statutorily independent from the government but has long enjoyed wide latitude
The government is now mulling the possibilities of increasing the reserve stock upto 1000 MT to meet any adverse situations, authorities said.
13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
IMD issued red alerts for Thiruvananthapuram, Kollam, Pathanamthitta, Alappuzha, Kottayam, Ernakulam and Idukki districts.
The finance ministry has set up two committees of state finance ministers which would rework rate slabs, review GST exempt items and identify potential evasion sources. Four years after the roll out of the national Goods and Services Tax (GST), which replaced the complex indirect tax structure, the centre and states have started work on moving towards a "simpler rate structure in GST" by reviewing the current rate slabs, including special rates and merger of rate slabs. The Group of Ministers (GoM) on rate rationalisation would also review items under inverted duty structure to help minimise refund payout, and review the supply of goods and services exempt under GST with an objective to expand the tax base and eliminate breaking of input tax credit (ITC) chain.
There was no word on whether or when Patel would be talking to the media about his priorities and plan of action as head of Mint Street
Not only were Urjit and Rajan outsiders, they also hired laterally, bypassing the existing talent, especially in the field of economics
Rajan warned against waiting to act until inflation expectations become entrenched, but also said the Reserve Bank of India would overlook temporary spikes in inflation.
A PhD from Chicago-Booth and a top-ranking IIT-IIM alumnus, Krishnamurthy Subramanian is one of the world's leading experts in banking, corporate governance and economic policy
Will RBI chief have the final say, in the form of a veto
The Reserve Bank on Friday set up a three-member committee under former Governor Bimal Jalan to scrutinise applications for new bank licences, which are expected to be awarded by January.
Two successive reports, one by Percy Mistry in 2007 and the other by Raghuram Rajan in 2008 had provided the RBI and the finance ministry with blueprints of what to do next. Both reports, unfortunately, was put on ice. The global meltdown saved the RBI. It also saved the finance ministry from having to work on the two reports.
The 42-year-old Acharya's appointment for a three-year tenure was cleared by the Appointments Committee of the Cabinet.
He will be the eighth Deputy Governor to be made Governor at RBI
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Addressing a Ficci-organised banking summit in Mumbai, he at the same time said that it will take several years for the country's banks to achieve the status of a large global bank.
The bill proposes to make university or college as a unit instead of department for the purpose of providing reservation for filling teachers posts in central education institutions.
Some of external candidates being considered for the post of CEO include Bhaskar Ghosh of Accenture, Ritesh Idnani of Tech Mahindra, Ravi Kumar S of Infosys, and Nitin Rakesh of Mphasis, among others.
The Bills adopted in 2017 for the same purpose during the AIADMK regime did not get the President's assent.
Blowing the bugle for the 2014 Parliamentary elections, Bihar Chief Minister Nitish Kumar on Saturday hit out at the Congress-led United Progressive Alliance government for dilly dallying on granting special category status to the state.
As deputy governor, Patel headed the RBI panel to draft the monetary policy report, which became the basis of the ongoing reforms at the apex bank
Former RBI governors Urjit Patel and Raghuram Rajan have also expressed worry about the Mudra scheme, particularly government's target-setting practice and the rising bad loans.
The Tamil Nadu assembly on Tuesday once again adopted the anti-NEET Bill, returned days ago to the government by Governor RN Ravi, with the ruling Dravida Munentra Kazhagam and principal opposition All India Anna DK reaffirming their opposition to the test.
Kaushik Basu, whose stint at the World Bank ends on July 31, was being looked at as a serious contender, the sources said
CPI-M veteran Pinarayi Vijayan was elected its Parliamentary party leader, paving the way for his successive stint as chief minister of Kerala.
His likable boy-next-door face and casual approach to public speaking have a unique appeal for the younger generation, but it stops there, observes N Sathiya Moorthy.
Rajan had overturned the majority opinion of the members and chose to hold the rates at the last monetary policy review in October.
Banks in India must have a modern approach, suggests a panel comprising of banking bigwigs.
The Reserve Bank on Wednesday said it plans to issue new bank licences around January, "consistent with the highest standards of transparency and diligence."
Raghuram Rajan called for purposeful and effective action to counter the atmosphere of cynicism, which has slowed down the decision making process.
Other members of the high-level advisory committee are former RBI Deputy Governor Usha Thorat, former Securities and Exchange Board of India Chairman C B Bhave, and Nachiket M Mor, Director of the Central Board of Directors of RBI, Governor Raghuram Rajan said.
The armed forces have roped in Battlefield Nursing Assistants (BFNA) to help fight the second wave of COVID-19 and have suggested that a similar model can be followed by state governments and hospitals, according to senior officials.
DEA officials to push for this at a meeting with FM Jaitley.
In a statement, the medical body said that the emergency services including casualty, labour rooms, emergency surgeries will function along with ICUs, CCUs, but no elective surgical case will be posted.
The RBI governor most famous oneliners -- 'I am Raghuram Rajan and I do what I do' -- that eventually summed up the year 2015 for the central bank
'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.
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