Finance Minister Nirmala Sitharaman's Rs 30,600 crore government guarantee for the bad bank has changed the body language of bankers for the better, observes Tamal Bandyopadhyay.
It would be a good idea to create independent oversight committees for each regulatory institution and indeed, even for their appellate bodies, says A K Bhattacharya.
The government is working towards further review and simplification of the foreign direct investment (FDI) policy to facilitate the proposed initial public offering (IPO) of the Life Insurance Corporation (LIC), Department for Promotion of Industry and Internal Trade (DPIIT) secretary Anurag Jain said on Thursday. The final decision will be taken by the Cabinet. The industry department is working together with the finance ministry's department of financial services (DFS) and department of investment and public asset management (DIPAM) towards a successful listing of the life insurer on the domestic bourses, which is expected to be the largest in India.
Control over PSU banks is what is allowing the government to drive this scheme.
RBI policy surely cannot impact agflation, in any case.
Valli Arunachalam had alleged that the group promoters have a gender bias against women getting into the family business and, hence, she and her sister were denied a berth on AIL's board.
'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.'
'There will always be a challenge to maintain a fine balance to ensure that the growth keeps happening and inflation is contained.'
He will be the first bureaucrat to head the central bank in almost five years.
This after most of the Opposition including the Congress, Left parties, the Trinamool Congress, the Samajwadi Party and the Nationalist Congress Party decided to boycott House proceedings in protest against the suspension of eight MPs for the remainder of the session for unruly behaviour.
The finance minister's meeting with chief executives and managing directors of banks ahead of the Union Budget assumes significance in view of the critical role the banking sector plays in boosting consumer demand across sectors.
'The assumed linear correlation between forced lower yields, higher bank borrowing from the RBI, higher lending, and higher growth involves leaps of faith, each a step on the quicksand of false beliefs,' warns Debashis Basu.
'Last year, Rs 20,000 crore was ripped off from the banking system.' 'The situation has deteriorated under the Modi government.'
RTGS is used to transfer large sums, the minimum amount being Rs 2 lakh. This mode is used primarily to facilitate trade and market transactions. The primary beneficiary would be the capital markets.
The idea is to keep the RBI's information technology (IT) infrastructure in top shape to run the payments and settlement system uninterrupted 24x7, and run the full gamut of RBI functions from the secured data centres, as nearly 14,000 RBI staffers, except the senior-most management, work from home.
The final and most significant reset in the relations between the government and the RBI is the manner in which the process of appointing the governor and deputy governors of the central bank has been changed.
The reason for the stickiness in bond yields can be many, but the most responsible is the liquidity deficit stance taken by RBI, says Anup Roy.
The corporate sector does not care from where the money is coming.
Finance Minister Nirmala Sitharaman on Tuesday said the government is working out a new Bill on cryptocurrency which will be placed in the ongoing session of Parliament after approval of the Union Cabinet. The ongoing winter session is scheduled to end on December 23. Replying to a series of questions in the Rajya Sabha, she said the new Bill takes into account the rapidly changing dimensions in virtual currency space, and incorporate features of the earlier Bill that could not be taken up.
'We have delivered a bitter medicine. It will take time to work.'
It is time for the three finance ministers of the 1990s to reveal the real hero, says T C A Srinavasa-Raghavan.
Patel, who headed the RBI from September 2016 till his sudden resignation in December 2018, says in his book thta the government seemed to lose enthusiasm for the new bankruptcy law in the middle of the year he left the central bank. Though Patel does not name anybody in the book, the mid-2018 period he refers to is the time when Piyush Goyal held temporary charge of the finance ministry between May and August.
The Supreme Court had observed that issues of national economic interest; disclosure of information regarding currency or exchange rates/interest rates/ taxes; regulation or supervision of banking, insurance and other financial institutions; proposals for expenditure or borrowing, and foreign investments, could all, in some cases, harm the national economy, especially if released prematurely.
'The first year of the Modi government's second term has laid the roadmap for the future and we will embark on it with gusto,' promises Gopal Krishna Agrawal, the BJP's national spokesperson on economic affairs.
Falling sales since demonetisation has alarmed CEOs, who want to save cash till the economy recovers.
RBI's tricky strategy to ease market's pre-Fed jitters.
Costlier vegetables and eggs pushed up retail inflation to a nearly six-and-a-half year high of 7.61 per cent in October, keeping it significantly above the comfort zone of the Reserve Bank.
From FY18, Ind-AS will be mandatory for all listed entities, barring those listed on the SME platform.
Finance Minister Nirmala Sitharaman will present her second Budget a little more than a month from now. Like any other FM, Sitharaman will depend on her team of bureaucrats and advisors to frame and present the Budget.
This survey also shows how things have moved forward since the last large-scale sample survey conducted by NSSO in 2012-13
Axis Bank Managing Director & Chief Executive Officer Shikha Sharma on the new mechanism for non-performing loans, the bank's loan portfolio, industry outlook and the bank's future plans.
'However, this time it looks like that is not working.'
RBI will be cautious easing rates further given oil price uncertainties
Air India had stopped the practice of issuing tickets on credit to government agencies for the travel of their officials in December last year because of accruing pending bills.
The career bureaucrat-turned-central banker walked into the 19th floor corner room of the Reserve Bank on December 12, 2018. Since February 2019, the Das-led RBI has cut the repo rate by a whopping 135 basis points to support the sagging growth, including an unprecedented 35 bps reduction in August. As he completes one year at the helm, woes in the NBFC sector, overall health of the banking sector and steeply falling economic growth are among the major challenges that needs to be tackled sooner than later.
Indian economy is set for a 'goldilocks' period -- used to describe a timeframe of high growth and low inflation -- while it can become Asia's fastest growing economy in 2016, Japanese financial major Nomura said.
RBI wants periodic revision of the pensions for its retired employees.
Relations between the Mint Road and North Block have often been frosty, with the former's calls for lowering rates being the biggest point of difference
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