The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
Parliamentary Standing Committee on Finance Chairman Yashwant Sinha wants the government to first introduce goods and services tax (GST) at the central level and set example for states to implement the indirect tax reform.
The newer ones have not met the stipulation of opening 25 per cent of branches in rural and semi-urban areas, a parliamentary committee report has observed.
Government is considering conversion of the country's biggest financial institution, IDBI, into a bank, Minister of State for Finance Anandrao Adsul said on Monday.
The draft Companies Bill 2008 has identified the three key managerial positions as chief executive officer, chief finance officer and company secretary. By recognising these three key managerial positions, the Bill is fixing responsibility to bring out a system which is more accountable, transparent and workable, according to an official at the Ministry of Corporate Affairs.
For every one million currency notes, there are eight fake notes floating in the country. While the percentage of fake notes may still be 0.001, the government is concerned as their circulation has grown in alarming quantities over the past few years.
Finance Minister Pranab Mukherjee will hold talks with the opponents of Women's Reservation Bill before the government's takes the next step on it, Minority Affairs Minister Salman Khurshid said on Thursday.
Government on Thursday approved the Taxation Laws (Amendment) Bill to protect the interest of donors.
The Industrial Development Bank of India will be merged into its subsidiary IDBI Bank, in a reverse merger on similar lines as the merger of ICICI into its subsidiary ICICI Bank.
The finance ministry on Friday asked state governments to accord priority to employees of banks and insurance companies for Covid-19 vaccination, saying they are exposed to high risks during these difficult times.
'What matters is meeting the needs and expectations of the people who have voted to provide governance for the country.'
The proposed bill seeks to raise FDI cap in the sector to 49% from the present 26.5%
The government is examining a proposal for the merger of IDBI with the IDBI Bank, Union Minister of State for Finance Anandrao Adsul said in Jaipur on Friday.
Y S Jaganmohan Reddy, whose supporters have been campaigning for making him the chief minister of Andhra Pradesh, on Thursday met Congress president Sonia Gandhi, who told him to leave the issue of leadership change in Andhra Pradesh to her.
One-time solution for IDBI, IFCI soon: FM
A Parliamentary committee has asked Reserve Bank of India to direct banks to channelise more funds to industry and other sectors instead of investing excessively in risk-free government papers.\n\n\n\n
The parliamentary standing committee on energy has asked the government to take result-oriented steps to revatilise the Dabhol power project.
Chary also says some government officials have played an important role in favouring organisations that MCX competes with.
With former prime minister Khaleda Zia in detention over graft charges, her Bangladesh Nationalist Party has made a dramatic change in the top leadership by appointing former finance minister Saifur Rahman as the party's acting chairman.
The Reserve Bank of India may go in for further tightening of money supply as there is no likelihood of inflation coming to single digit in the next six months, according to indications given by the central bank governor to a parliamentary panel.
However, BJP has not given any assurance of support and conveyed to the Finance Minister that the matter will be discussed within the party and take a call, sources said.
Rejects proposals by Bank of India, IndusInd, Kotak Mahindra and HDFC.
Speaking at the concluding day of the three-day brainstorming session, Chintan Shivir, in Udaipur, Sonia Gandhi said, "We will launch a national Kanyakumari to Kashmir Bharat Jodo Yatra beginning on Gandhi Jayanti this year. All of us will participate in it."
Following are the highlights of the RBI's first monetary policy statement of 2022-23 unveiled by Governor Shaktikanta Das: Policy repo rate unchanged at 4%; marginal standing facility rate & bank rate too remain unchanged at 4.25%. Monetary stance to be accommodative with focus on withdrawal of accommodation to keep inflation within target. GDP growth projection for FY'23 slashed to 7.2% from 7.8%; growth projections based on assumption of crude oil (Indian basket) price at $100 a barrel during FY'23. Inflation forecast hiked to 5.7% for FY'23 from 4.5%.
The Pension Fund Regulatory and Development Authority Bill, 2011, provides for market based returns and wide coverage based on several investment options in the pension sector with an aim to building confidence in the subscribers.
Delhi Lieutenant Governor V K Saxena has directed the chief secretary to recover Rs 97 crore from the Aam Aadmi Party for political advertisements it published in the guise of government advertisements, official sources said.
State finance ministers' panel to decide on latest attempt at harmonising of views on Constitution amendment.
'He will go to any extent, and he will have the full support of the Union government as they may not like a Left government to continue here.'
The Nagpur Municipal Corporation has cleared a proposal to award the work of collecting trash from the doorsteps of citizens to Infrastructure Leasing & Finance Services (IL&FS), New Delhi, and the Centre for Development Communication, Nagpur, for a period of ten years.
The dismissal of the five --most of whom have cases registered against them for terror activities -- was ordered under Article 311 of the Indian Constitution.
Finance Minister P Chidambaram on Tuesday asked chief ministers to carry forward pension reform as the liabilities of both the Centre and states was expected to cross a staggering Rs 100,000 crore
A PhD from Chicago-Booth and a top-ranking IIT-IIM alumnus, Krishnamurthy Subramanian is one of the world's leading experts in banking, corporate governance and economic policy
Bowing to the pressure of Left parties, the government on Wednesday referred the Pension Fund Regulatory and Development Authority Bill to Parliamentary Standing Committee on Finance.
The session started on January 29 and was originally slated to end on April 8 but several members had urged Speaker Om Birla to end the session earlier as they focus on electioneering for the five assemblies.
IOC raises prospect of boxing being pulled from Paris Games
A Parliamentary panel that went into a Bill to create a pension fund regulator has favoured 26 per cent FDI in the sector, but found many lacunae in the legislation.
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