They have also called for giving cash to the poor, so that demand is generated in the economy.
The word 'balancing' seems to be a favourite of Reserve Bank of India Governor D Subbarao.
The Union finance ministry on Thursday issued a clarification on the changes in FEMA rules which brings overseas international credit card spending under the RBI's liberalised remittance scheme (LRS). Here's how it affects you.
The Reserve Bank of India (RBI) is likely to clamp down on gold coin sales by banks, amid rising bullion imports adding pressure to the current account deficit and weakening the rupee.
$100-million Walmart investment of 2010 into Cedar, a group company of Bharti, is being investigated by ED.
The RBI has this year cut interest rates by 110 basis points in four instalments but banks have passed only a part of it to borrowers. Before the last reduction earlier this month of 35 basis points, the bank on an average had passed only 29 basis points out of 75 basis points cut affected during 2019.
The Intelligence Bureau has prepared yet another report on Greenpeace, a non-government organisation, recommending cancellation of permission given to it for collecting funds abroad besides reassessment of its tax compliance.
The party's research department team, which Rajya Sabha member M V Rajeev Gowda heads, has sifted through the suggestions received in the last five months, and the manifesto is slated to be released later this month, reports Archis Mohan.
Govt reconstitutes body, says will not interfere in senior PSB appointments
The RBI wants to include shares and options within the variable salary of the CEOs, proposed to be capped at 200 per cent of their fixed salary; the floor for it is 50 per cent.
The party also promised reservation to minorities on basis of their population after the caste census.
With this relaxation more than 77 per cent of the depositors will be able to withdraw their entire account balance.
With the July 1 deadline to apply for bank licence fast approaching, aspirants are scrambling to meet the Reserve Bank of India's (RBI) eligibility criteria to apply.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
Reserve requirements, mandatory investment in G-secs under Companies Act may slow lending for HNI investment in IPOs.
The government on Friday gave wide-ranging legislative powers to the Reserve Bank of India to issue directions to lenders to initiate insolvency proceedings for the recovery of bad loans.
The United States on Friday expressed concern over India's crackdown on Ford Foundation and Greenpeace, and said it is seeking "clarification" on the action.
Says that inflation is pushed up because welfare schemes.
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.
Lenders are not enthused because, as brokers, their responsibility towards policyholders will be higher than corporate agents.
PSB branches will work fulltime on the 1st and 3rd Saturday.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
'There is merit in keeping the central bank's balance sheet strong if the government's fiscal balance sheet is weak.'
Credit report is a record of an individual's or company's past borrowing and repaying, including information about late payments and bankruptcy. The central bank said it has been receiving complaints, including under RTI Act, that customers are unable to get their own credit report from banks despite the fact that the banks, under Credit Information Companies Act, are required to build a database and be in readiness for effective exchange of credit information.
The central bank also said accepting money under such structures was a cognizable offence
Lack of decisiveness and courage to deal with PSBs may turn out be the biggest impediment to the Modi government's economic initiatives, says Debashis Basu.
If the government cuts wasteful expenditure as it is trying now, the deficit would at most fall to 8 per cent, not less than that.
Clarity to help operationalise the controversial FDI policy of 2009.
The hour-long episodes lurch from adrenaline-pumping to yawn-inducing, observes Deepa Gahlot.
PM raised the CEO salary issue couple of years back. RBI and Sebi, too, flagged it recently. Are companies really paying their CEOs more than their counterparts elsewhere?
'India's economic fundamentals are much too strong to be affected by his resignation,' says B S Raghavan.
Some reactions to RBI's monetary policy announced on Monday.
The amount of money Indians invested in foreign securities, property, and deposits in 2022 was likely the highest on record. At $2.1 billion, it was the largest spend for any 12-month period according to the Reserve Bank of India's (RBI's) data going back over a decade. The amount spent for each individual segment was also the highest.
Indian economy has good fundamentals and sizeable foreign reserves, RBI Governor Raghuram rajan said.
RBI said these coins are legal tender as provided in The Coinage Act 2011.
Interview with former Reserve Bank of India governor by Duvvuri Subbarao.
Finance Minister Nirmala Sitharaman is scheduled to meet heads of public sector banks (PSBs) next week to review performance of the lenders and progress made by them to support the economy battered by the COVID-19 pandemic. Banks would be urged to sanction loans for productive sectors to accelerate revival of the economy, sources said. According to sources, the two-day meeting would commence on November 17 and undertake a comprehensive review of various segments, progress in government schemes including Aatmanirbhar Bharat Abhiyan.
Indradhanush-II is likely to chart out the process for resolution of non-performing assets.
The Reserve Bank of India (RBI) is likely to soon notify that the information about an individual captured in 'Aaadhar', issued by the Unique Identification Authority of India (UIDAI), would be sufficient to fulfill the KYC (know your customer) norms for all financial products.
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