'The current budgetary practice of shifting expenditures off-balance sheet in order to be seen to be meeting fiscal targets should be discontinued; additional fiscal stimulus would be imprudent; individual income tax rates should not be cut; GST rates should not be raised now,' advise Arvind Subramanian and Josh Felman.
Cyprus and India also finalised an agreement on combating terrorism, illicit drug trafficking and organised crimes.
He said countries should work for promoting open and inclusive cooperation for win-win outcomes.
The repo rate, at which RBI lends to the banking system, will be at 7.5%
News of all that transpired on and off the football field.
RBI on Monday conducted an unprecedented level of liquidity infusion to the tune of Rs 3.3 lakh crore, in which banks bid for as much as Rs 4.5 lakh crore. The central bank said it would conduct a liquidity infusion auction of Rs 1 lakh crore on Tuesday as well, to help banks tide over the liquidity crisis.
The total quantum of non-performing assets in the Indian banking system increased to Rs 7.33 trillion as of June 2017, from Rs 2.75 trillion in March 2015.
Tight bowling and fifties from Shikhar Dhawan and Dinesh Karthik helped India secure a series-levelling six-wickets victory against New Zealand in the second One-Day International in Pune on Wednesday.
Urban housing mortgage major HDFC announced that it will cut its lending rates by the end of the week.
V Vaidyanathan, former executive director at ICICI Bank who turned entrepreneur to run Capital First, an NBFC that caters to smaller businesses, tells Pavan Lall in an exclusive interview that his new entity post the merger of Capital First and IDFC Bank which will be called IDFC First will launch by January and cater to a new India with value services.
Musharraf met the US National Security Adviser.
The awarding of in-principle licences for 10 small finance banks is likely to be a game changer in a way which may not be adequately realised right now.
The venue for Saturday's meeting was shifted at the last minute from the headquarters of the India Banks' Association in Cuffe Parade to avoid media glare.
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
Rajan drew attention towards the Nachiket Mor committee on PSL and said that the RBI is trying to make the entire process more effective.
Power Finance Corporation Ltd filed its revised prospectus on Monday with market regulator Securities and Exchange Board of India to come out with its initial public offering.
Follow these tips to get ready to celebrate with sweets and kites with your friends and family in your new house next Pongal.
The surge in oil prices has also affected the rupee, which hit a 6-week low of 70.25 on Friday against the dollar.
People in India are increasingly shying away from taking bank loans on account of economic slowdown and scepticism arising out of job uncertainty.
'Investors should restrict themselves to a few category schemes with high quality portfolios apart from overnight and liquid funds.'
Yara Shalaby set up the Middle East's first women's rally team, the Gazelle Rally which has seven drivers and has secured sponsorship for 2016.
Under Sharma Axis Bank has also taken the lead in focusing on technology, which has now become core to almost every other lender's strategy.
A bad Cibil credit score can limit your borrowing options; however there are few other options which you can explore for credit.
Historically, overall credit has grown at 1.6 times GDP growth
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Diplomatic channels activated to keep India eligible for soft loans from World Bank affiliate, though rules show it's probably time we made way for the needier others.
'Gwadar has the potential to facilitate PLAN's operations in the Arabian Sea and Indian Ocean.' 'Reports of China setting up electronic eavesdropping posts at Gwadar to monitor US and Indian naval activity and shipping traffic through the Straits of Hormuz and the Arabian Sea lend credence to this,' says former RA&W officer Jayadeva Ranade.
Investors in LIC's insurance and other schemes are receiving a lower rate of return because LIC is subsidising incompetence at best and malfeasance at worst in institutions such as IDBI Bank and IL&FS, says Jaimini Bhagwati.
'Those who come from outside are surprised at the relatively small strength of the RBI supervisory cadre, relative to the needs of the country and the needs of the financial sector.'
Sukanya Verma looks at the various baap-beti equations depicted on the screen.
Banks seems to be upset over RBI's move over rate cut.
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
After exporters, real estate companies are demanding a priority sector tag for loans to the low-cost housing sector.
The Shanghai Composite Index eased 0.2 percent in subdued trading on Wednesday morning.
Prof Ananth Narayan, well known financial expert who works as a faculty member at the SP Jain Institute of Management and Research and the RBI's nominee director on the board of Yes Bank, expects a double-digit contraction in India's GDP this fiscal year. In the first of a two-part interview to Shobha Warrier/Rediff.com, Prof Narayan, below, says, "Giving liquidity and loan to cover the cash flow problem is not sufficient because you are essentially increasing the debt of many of these companies. And they might not be able to bear the burden."
Move to improve transparency but make liquidity more difficult to come by
The RBI has made serious attempts to improve fiscal deficit.
