'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.'
The Centre's proposal to call for governance reform in the RBI could, however, take a back seat, a source privy to the development said.
'RBI is taking all steps to complete the process expeditiously so as to release firm figures at an early date.'
The most common complaint of financial consumers is cumbersome processes, complicated products, usurious charges, and mis-selling of products, which finally don't deliver what is promised or as expect, notes Debashis Basu.
An expected withdrawal of FIIs from the market likely to weaken the rupee against the dollar.
India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand. The gross domestic product (GDP) had contracted by a record 23.9 per cent in the first quarter of the 2020-21 fiscal (April 2020 to March 2021) as the coronavirus lockdown pummelled economic activity.
Finance Secretary Hasmukh Adhia vacates his post on November 30 and Expenditure Secretary Ajay Narayan Jha, the second seniormost bureaucrat in the finance ministry, retires on January 31, the day before Jaitley presents the 2019-20 interim budget.
The country had imported 5.5 million tonnes of pulses last year.
Governments that do not respect central banks' independence will sooner or later incur the wrath of the financial markets, ignite economic fires, and come to rue the day they undermined an important regulatory institution; their wiser counterparts who invest in central bank independence will enjoy lower costs of borrowing, the love of international investors, and longer life spans, said Acharya, who will return to the New York University's Stern Business School in August.
Rajan said investments should return after initial investor worries over Brexit.
'You have to be a total anti-national bozo to shut down the Nokia plant in Sriperumbudur, which was the first large manufacturing plant for mobile phones in India.' 'Why was the unit shut down? Because of somebody's ego.'
Capital markets regulator, I-T department suspect tax evasion and market manipulation
Arun Jaitley addressed a post-Budget press conference.
In a grand ceremony with overtones of a United States presidential inauguration, heads of state and government, India Inc honchos, opposition leaders, Bharatiya Janata Party members and showbiz stars rubbed shoulders as they watched President Ram Nath Kovind administer the oath of office to India's 58 new ministers.
The Supreme Court asked the Centre and the RBI on Monday to place on record the K V Kamath committee recommendations on debt restructuring in view of Covid-19 related stress on various sectors as well as the notifications and circulars issued so far on loan moratorium.
Today, the single most popular route of laundering is the stock market platform, notes Debashis Basu.
A common feature in India is the lag between the occurrence of frauds and the time they are actually reported.
A vast majority of borrowers are in the essential services' supply chain with tiny and micro businesses, and this has sprung back.
Earlier, the RBI cut its policy interest rate to 6.75 per cent.
While consumers feel that petrol pinches directly, diesel hurts indirectly, as it is an input in almost all the goods and services we use.
A memorandum, signed by the chief ministers or finance ministers of Andhra Pradesh, Puducherry, Karnataka, Delhi, West Bengal, Kerala and Punjab, said the terms were disruptive and a cause for concern.
Some of the disclosures in the ITR form, under review at present, increases procedural hassles for expats
She also hit out at the government for posting retired bureaucrats, who she alleged were its 'yes men', as head of institutions.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
While its deposits from Iran accounts have come down from a peak of around Rs 25,000 crore to Rs 2,200 crore, it's been offset by the bank receiving almost Rs 24,000 crore in deposits post note ban.
The RBI governor's assurance should give investors enough confidence to start believing in the NBFC sector again, say bankers.
Budget planners for now have been told to prepare with the assumption that GST will apply from April 1.
Owing to Finance Minister Nirmala Sitharaman being new to her role, a number of crucial announcements in the Budget bore Garg's imprint, especially the decision to borrow in overseas markets, reduce the fiscal deficit as a percentage of gross domestic product, and resort to off-Budget borrowing to meet that target, says Arup Roychoudury.
India has undertaken a number of structural reforms.
India's external firewalls were solid in the form of a healthy reserve position.
Over the past six months Rajasthan has introduced some of India's most radical free-market labour, land and welfare reform.
The central bank is the money manager of the government, and not a guarantor of any debt.
Bad loans of PSBs are at Rs 20 trillion. Most of it is, I sense, due to corruption and behest lending. Nobody pays a price for this charade. Not the promoters, the bankers, RBI officials, finance ministry bureaucrats or politicians, points out Debashis Basu.
The Central Bureau of Investigation (CBI) had told the finance ministry some "well-known" companies in the power, oil, and telecommunications sectors were involved in round-trip trading by indulging in third-party transfers in violation of law.
'We don't expect any immediate impact on salaried jobs.'
In another somersault, the BJP MP claims Arun Jaitley looks smart in a suit.
Thanks to the recapitalisation by the government and measures taken by the central bank, collapse of any large housing finance company won't pose as big a risk as it had six months ago.
'We believe there will be a full shutdown for four weeks and a partial shutdown for eight weeks.' 'Hence, economic activity is unlikely to normalise before the end of May.'
Tomorrow's review could also turn out be the last policy anchored by Rajan if the proposed Monetary Policy Committee (MPC) is put in place before the next review due on August 9.
'When the country is jobless, why should I pay through my nose to feed these people who want some perks in office?' 'Let them also join India's unemployed.' 'Let them also taste the bitter medicine of being jobless.'
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances