A key woman member of Arvind Kejriwal's Aam Aadmi Party, who is also a contestant for upcoming Delhi assembly elections, was critically injured in a road accident on Sunday.
This time the all-powerful interest-rate setting panel, whose constitution was notified by the government on Thursday, will take call on interest rate. But that's not the only change. The Reserve Bank of India has also decided to change the timing of announcement of its policy review, due next Tuesday, to mid-afternoon.
Green signal from Jaitley; CVC okays Hemant Contractor for head of PFRDA
Discussion paper fixes Rs 1,000 cr as minimum capital for these specialised banks
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.
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.
'Normally, the system is geared towards counting notes -- it is equipped to do x amount of work and one day you are asking them to do 20 x.' 'The processes involved are very complex.'
The S&P BSE Sensex shed 119 points to close at 27,977 and the Nifty50 dropped 45 points to finish at 8,591.
It is the six per cent target RBI is more concerned about.
The Maharashtra assembly on Wednesday revoked the suspension of the five legislators who had allegedly assaulted a policeman on the assembly premises in March this year.
Suggesting steps to boost the Indian economy, the IMF chief further said the government should focus on fiscal consolidation.
A group of high-powered individuals led by Anand Mahindra have come together to set up Krea university. The campus is expected to be ready by 2019 and the first batch of 100 to 125 students will commence classes in August next year.
The discussion paper is released at a time when the central bank is sifting through 26 applications seeking an entry into the fray.
Managing expectations is a challenge for policymakers.
Duvvuri Subbarao recounts how his tensions with P Chidambaram and Pranab Mukherjee, then finance ministers, over monetary policy spilled over into other issues in the central bank in this excerpt from Who Moved My Interest Rate?, his memoir of his term as Reserve Bank of India governor.
Rupee, bonds may see knee-jerk reaction, as Urjit Patel is considered an inflation warrior
Banks have issues with their balance sheet profiles, say PSB executives.
'We first need to acknowledge the truth.' 'We are trying to diminish the problem and say, everything is okay and green shoots are emerging.' 'Imagine you are a doctor and not getting accurate medical reports, how do you diagnose and treat the illness?' 'We are not dealing with a terminal illness here, we are dealing with BP and cholesterol, which are imminently curable.'
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
RBI Governor Raghuram Rajan has noted the contradiction.
The recent weakness of the rupee has been due to yuan's devaluation.
Unaware of the historical marker outside Bandra railway station, hawkers used it to display their wares, reports Anil Singh.
'The PCA framework was revised and tightened in April 2017, but there was no discussion in any board meeting. The government does not know the rationale behind revising the framework and how the RBI arrived at it. Similarly, there was no discussion in the board meeting on the revised NPA framework,' said an official.
At least five state-run banks on central bank's radar for lax credit appraisal
Says GDP growth rate from 2014-15 to 2015-16 will be greater than that of 2014-15 from 2013-14
'Mr Modi would compliment a Nobel Prize winner, but members of his party or the government would not be restrained from either making unfair comments or criticising him for having offered advice to an Opposition political party,' says A K Bhattacharya.
To contain rising bad loans, the Reserve Bank on Tuesday proposed a slew of measures, including incentives to lenders for coming together and tackling an account timely and penalising borrowers with higher interest rates in future for not cooperating for a resolution.
The RBI now brings in important and contentious changes directly through voluminous Master Directions, or Master Circulars
Instructions were issued on holding loan camps in the last week of September.
Voting for the 2014 general elections will begin in April and it is expected Budget 2014-15 will be presented in June.
Tata Sons, holding company for the Tata group, is working on building a centralised rural business platform that could be leveraged for the entire group's benefit, instead of each company looking at it separately.
Led by Ajay Shriram, chairman and senior managing director, DCM Shriram, the CEO's delegation seeks to convey to their American counterparts the sense of optimism amongst Indian industry.
The Biju Janata Dal will not oppose the government simply for the sake of opposing it, BJD Member of Parliament Bhratruhari Mahtab tells Aditi Phadnis.
The candidate will be expected to have at least two to three years of remaining service.
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.
Barry Eichengreen, professor of economics and political science, University of California, Berkeley, analyzes the transparency of the Reserve Bank of India, the growth rate of the Indian economy and why he feels globalisation can never be rolled back.
According to the global financial services major, inflation may remain sticky, with a possible El Nino effect on the monsoon likely to push up food prices and geopolitical uncertainties seen pumping up global commodity rates.
Economists and investors want RBI to retain independence in setting rates
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.
Issuance of new bank licences proves that the apex bank wants the financial sector to flourish.
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