The solution to Manipur's problems lies in the government giving concessions to Meitis in jobs and education and to accept autonomy for the tribal dominated areas inhibited by the Kukis, suggests Colonel Anil A Athale (retd).
Investors will see that India story actually continues to be a good one, he said.
The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
In the first such collaboration for India, the country's flagship payments platform, the Unified Payments Interface (UPI), and Singapore's PayNow payment system have launched a real-time cross-border payment linkage system. The linkage, which was launched by Prime Minister (PM) Narendra Modi and Singapore's PM Lee Hsien Loong on Tuesday, was kicked off by a live cross-border transaction between Reserve Bank of India Governor Shaktikanta Das and Monetary Authority of Singapore managing director Ravi Menon, using mobile phones.
The Reserve Bank on Wednesday marginally lowered the country's GDP growth projection for the current fiscal at 6.8 per cent from its earlier estimate of 7 per cent. However, despite the downward revision in the economic growth projection, India will remain among the fastest growing major economies in the world, said RBI Governor Shaktikanta Das while announcing the latest bi-monthly monetary policy.
Remarks come at a time when he is under pressure from the govt to cut interest rates.
A day after the storm, it was apparently business as usual for Reserve Bank of India Deputy Governor K C Chakrabarty.
To stamp on inflation, RBI raised its key short-term lending and borrowing rates by 0.25 per cent and 0.50 per cent respectively.
Raghuram Rajan will take over as RBI Governor on September 4 at a time when the country is facing a grave economic crisis.
Rajan was expected to join the search committee to appoint three external members of a new six-member RBI Monetary Policy Committee
For the last few years, the assumption in much of the economic discourse has been that India is on an assured path of rapid growth.
Reserve Bank of India Governor D Subbarao surely knows how to crack a joke even on as mundane a topic as the cash reserve ratio (CRR).
Many banks' profits will take a hit and a few of them could even end up being in the red because of treasury losses, triggered by a sudden spike in government bond yields in the rising interest rate cycle, notes Tamal Bandyopadhyay.
A quarter of managers to retire in 3 years; new private banks also seen as threat.
'The prime minister's comment on 'revdi culture' was welcome. But I am disappointed he did not follow up on that.' 'All political parties, including the BJP, have been guilty of this.' 'Now, Modi's guarantees, the Congress's 'nyay' path and both ruling and Opposition parties are vying with each other for freebies in my home state Andhra Pradesh.'
Addressing the industry's concerns that banks were not lending to the MSME sector, he said credit flow to MSMEs had doubled from Rs 1,27,000 crore (Rs 1,270 billion) in 2006-07 to Rs 2,57,000 crore (Rs 2,570 billion) in 2008-09. In 2007-08, credit flow to the sector was Rs 2,13,000 crore (Rs 2,130 billion).
Y Venugopal Reddy, currently executive director of International Monetary Fund will be the new Governor of Reserve Bank of India, succeeding Bimal Jalan.
RBI Governor Raghuram Rajan expressed anguish at the banks' reluctance to pass on benefits of the earlier rate cuts.
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Subbarao also said credible fiscal consolidation is a pre-condition for stabilising inflation and in securing non-inflationary growth.
Reserve Bank Governor Shaktikanta Das on Wednesday said that RBI is monitoring the situation regularly with regard to the withdrawal of Rs 2,000 currency notes and expressed confidence that the entire exercise will be completed in a non-disruptive manner. The Reserve Bank of India (RBI) on Friday announced the withdrawal of Rs 2000 denomination banknotes as part of its currency management and permitted the exchange of Rs 2000 currency notes up to Rs 20,000 in one go from Tuesday onwards. The exchange or deposit window is available until September 30, 2023.
RBI Governor Shaktikanta Das on Friday said the entry of big tech firms into the financial sector poses systemic concerns like overleveraging at the borrowers' ends.
The decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
AIBEA said that on April 19 its officer bearers would meet in Punjab to decide the next course of action.
'Data-dependence means you can raise or drop rates. The present stance is only for raising rates.'
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A rule change may make Nachiket Mor, among others, eligible to replace Chakrabarty.
RBI Governor Y V Reddy said the central message of the credit policy was that we could be continuing with the growth rate or there could be a upward shift in the trajectory.
Reserve Bank of India Governor Raghuram Rajan said, in an election year, it is better to be ready for any eventuality.
A top-class board is important from a systemic point of view, more so at a time when the wider financial world and India Inc is chasing the same talent as banks.
After Raghuram Rajan leaves, the world for the succeeding RBI governors will be distinctly different.
Green signal from Jaitley; CVC okays Hemant Contractor for head of PFRDA
Gearing up to face a difficult financial year, the Reserve Bank of India on Friday said it will explore all options to maintain comfortable liquidity position, while managing government's borrowing programme in a "least disruptive manner".
Here are the highlights of the monetary policy announced by RBI governor Shaktikanta Das on Friday.
Reserve Bank of India Governor Y V Reddy has said the country needs to put in place 'special defences' to face the prospect of volatile capital flows.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
RBI to ensure loans rate fall
The RBI raked in a massive net income gain from foreign exchange currency sales as a buffer for the rupee during tumultuous geopolitical upheavals last year owing to Russia's invasion of Ukraine.
The Reserve Bank of India on Friday slashed the growth projection to 7 per cent for the current fiscal from the earlier forecast of 7.2 per cent, citing aggressive tightening of monetary policies globally and moderation in demand. Unveiling the fifth monetary policy for this fiscal, RBI Governor Shaktikanta Das said the central bank remains committed to price stability to put the country on the sustained path of growth.
It is only after the government's nod that a particular design change come into effect.
Reserve Bank Governor Shaktikanta Das on Friday said the rupee is holding up relatively well when compared to the currencies of emerging market peers and advanced economies. Days after the domestic currency breached the 80-level against the dollar, Das said Reserve Bank of India (RBI) has zero tolerance for volatile and bumpy movement in the rupee and added that the central bank actions have helped in smoother movement. He said RBI has been supplying US dollars to the market to ensure adequate supply of liquidity and also clarified that the central bank does not target a particular level for the currency.
Reserve Bank of India governor D Subbarao on Thursday said that India's central bank needs to control inflationary expectations and support growth.
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