The RBI wants to enforce more transparency in public sector banks. Manojit Saha The Apex bank wants the government t oreduce stakes in PSUs.
RBI's draft guidelines prescribe that banks with a strong capital base and NPAs below 3% can become brokers.
India and the United States vowed on Thursday to step up joint efforts to halt illicit money flows.
'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.'
Elections may be a few months away, but the government may get into election mode much earlier than that, predicts A K Bhattacharya.
This misleading information claims remittance of such funds by overseas entities to banks in the country.
Barring a few nuts, no one will dispute that it has done rather a good job of carrying out its remit
The Supreme Court in a 4:1 majority verdict upheld the government's 2016 decision to demonetise Rs 1,000 and Rs 500 denomination notes, saying the decision-making process was not flawed.
Writes to shareholders highlighting its performance, governance practices.
In a circular to the banks, the central bank has clarified that the directions of gram panchayats and municipal councils will not apply to such houses as they neither sanction plans nor issue completion certificates for the same.
The judgment was reserved after a marathon hearing which went on for 38 days spanning four months.
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RBI aiming to bring down headline number to 8% by end of this year and to 6% by the end of next year.
In Reserve Bank offices, 59 CVPS machines are used and each machine is operated by a set of five persons under a supervisor who supervises a cluster of machines
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.
Any bank found issuing or accepting note packets in stapled condition will be liable to be penalised under the existing provisions of Banking Regulation Act, 1949, Reserve bank of India said on Thursday.
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.
The Indian government and RBI must keep foreign equity investors happy and avoid crushing growth expectations, notes Akash Prakash.
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
The Dun & Bradstreet Composite Business Optimism Index stands at 81.1 during the 2nd quarter of 2016
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.
RBI would like to work on examining the regulatory framework for the voluntary withdrawal by the entrepreneur.
Nuclear companies from the US, Russia and France, as well as Indian power majors, have unanimously appealed to the Government of India (GoI) for various changes in the rules to facilitate foreign and private sector investment.
The Reserve Bank of India has said Indian companies merging with overseas firms will continue to be treated as entities resident in the country under the Foreign Exchange Management Act (FEMA). There is no provision for such a merger under the current Companies Act. But a Bill to amend the Act tabled in the Budget session of Parliament proposes to allow Indian companies to merge with overseas companies, under section 205, a move that could introduce greater flexibility in
The panel was set up to suggest ways to reform India's monetary policy.
Two months before the microfinance sector crisis in October, an internal committee of the Reserve Bank of India (RBI) had warned of possible problems in the sector.
Discussions are on in government about how to make the process simpler for the poor and more cost-effective for telecom operators, says Subhomoy Bhattacharjee.
The objective of the new legislation is to have a uniform law regulating money lending, removing the existing abuses and malpractices in the business and to protect the debtor, particularly farmers, from payment of abnormal interest rates.
The CBI, in its letter, said the matter was 'analysed' by the agency and it 'revealed violations of RBI guidelines and FEMA regulations'.
The government has amended its laws to have a bigger say in the decision making of the Reserve Bank of India (RBI) by having two members on the central bank's board as compared to one now.
The coins will be circular in shape and have a diameter of 23 millimetres.
Given the pressure from India Inc and the banking fraternity, it is surmised that the portfolio rejig will take place before April.
Singh brothers might be stopped by 'fit & proper' hurdle due to US drug norm violations; firm says confident of qualifying.
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.
The home minister said eight people were killed -- six in Madhya Pradesh and one each in Uttar Pradesh and Rajasthan, during Monday's Bharat Bandh.
Fitch reaffirmed India's rating at 'BBB-' with a Stable Outlook saying the rating balances a still strong medium-term growth outlook compared with similar category peers and relative external resilience stemming from solid foreign-reserve buffers against high public debt, a weak financial sector and some lagging structural factors, including governance indicators and GDP per capita.
Patel, 55, who took over as the 24th Governor of the central bank on September 5, 2016, had the shortest tenure since 1992.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
Many bankers say the move will have a serious impact on the chain of command of nationalised banks and that it would only enable the government to dish out favours to a few of their own men.
