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
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.
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 US has been widely criticised for using pressure tactics to secure information from other countries, without reciprocity.
'However, this time it looks like that is not working.'
It is learnt that Pandove had applied for indemnity under Rule 34 of BCCI constitution where the organisation pays on behalf of the member if he is slapped with a penalty while discharging his function.
The interest money which is not claimed by people due to religious obligations is kept in suspended bank accounts.
The RBI recently met with a handful of foreign banks and asked them to stop acting as market-makers for rupee NDFs, according to three bankers involved in the discussions.
The Reserve Bank of India on Wednesday retained the economic growth projection for the current financial year at 10.5 per cent, while cautioning that the recent surge in COVID-19 infections has created uncertainty over the economic growth recovery. In its last policy review, the RBI had projected a GDP growth rate of 10.5 pc for FY'22. Taking various factors into consideration, it said, "the projection of real GDP growth for 2021-22 is retained at 10.5 per cent consisting of 26.2 per cent in Q1, 8.3 per cent in Q2, 5.4 per cent in Q3 and 6.2 per cent in Q4."
Raghuram Rajan joked he wasn't expecting to win any votes or Facebook 'likes' in the position.
Advocate Abbad Ponda, his lawyer, said a person with low immunity is easily susceptible to catching coronavirus.
A bench comprising Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud said the Constitution Bench would also deal with the individual plea of those who could not deposit their currency notes during the window period provided by the Reserve Bank of India.
The trigger for the action is understood to be the huge spike being registered in the value of bitcoins and other virtual currencies in the recent past.
The 50-day window for depositing the old notes in bank accounts and post offices expires on Friday.
he reason behind the cut in policy rate seems to be a slowing economy
'Urjit Patel's appointment is a right decision and in the interest of the country.'
Experts say the new guideline is likely to hurt foreign players more, especially card companies such as Visa, MasterCard and American Express who process and store credit card transaction data outside of India.
'If Urjit Patel had resigned after the five-state elections results people would have taken a different view. So this was the right time for him to resign.' 'He rightly resigned as he felt the differences with the government were not getting settled.'
A strong start-up ecosystem can propel investment, jobs, and demand creation, and for that, substantial growth capital is required.
To combat terror financing, India and the US committed to work together to check illicit money transfers.
Cautioning that there will be social and psychological consequences for the rest of the country too, Guha said the migrant tragedy could have been averted or at least minimised if Prime Minister Narendra Modi had given them a week's notice to return home before the lockdown kicked in.
This compares with China at over $10 trillion and India $2 trillion.
India's aggregate NPA as a percentage of GDP is far lower than that in Italy, Greece.
The Finance Ministry is considering a proposal to set up a National Asset Management Company that may act as a nodal agency for taking over bad loans of banks and help revive sick units.
Analysts have started talking about at least a 25 bps cut immediately.
The former Union minister alleged that the government is "intolerant to the slightest criticism".
Payment aggregators should have a minimum net worth of Rs 100 crore and if they don't manage to arrange that money within one year of putting out final guidelines, they should stop doing their business, says central bank's draft paper.
'It is likely the government may opt for an IAS officer.' 'For the government, an IAS officer will be more easy to deal with,' notes A K Bhattacharya.
This is because the bond market has factored in the Rs 4.88-trillion gross borrowing for April-September 2020.
ED orders Chanda Kochhar to appear with asset lists also provide income-tax returns in her individual capacity and of companies if she was a director or held any position.
The Centre's decision to not reduce the face value of shares of India's Crown Jewel - Life Insurance Corporation (LIC) - was taken to make shareholders feel they are acquiring something 'precious'. The face value of LIC's shares was retained at Rs 10, quoted in the draft prospectus, as it would also align the insurer's shares with those of its private sector peers. Even as the LIC Act was amended to "consolidate or reduce the nominal or face value of the shares", with the Centre's approval, it was decided to stick to the current face value of shares at Rs 10 without splitting the existing 6.32 billion shares.
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
'Rajan brought in a healthy air of competition in the banking sector.'
Finance Commission has got new team who are committed to growth initiatives.
In order to keep the interest of new and small players intact, the coal ministry is offering only small- and medium-sized coal mines in the second round.
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The repo rate continues to be at 8 per cent while the cash reserve ratio has also been retained at 4 per cent despite inflation based on the Wholesale Price Index coming down to a 5-year low of 1.77 per cent in October.
It will escalate costs, mandate regulator to check malpractices, set standards.
Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate -- the rate at which banks park their fund with the central bank -- by 25 basis points to 3.75 per cent.
The reason behind issuing new bank licences is to allow more private sector entities to set up banks
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