Linking all new floating rate loans to an external benchmark won't impact existing borrowers, so customers who have taken long-term home loans recently should watch things carefully, say Joydeep Ghosh and Sanjay Kumar Singh.
The post of chairman and managing director has been split and the government has appointed managing directors and chief executive officers in four banks -- Indian Overseas Bank, United Bank of India, Oriental Bank of Commerce and Vijaya Bank.
These sweeping financial sanctions follow the action earlier this week to cut off Russia's frozen funds in the United States to make debt payments.
Former chief minister Jagannath Mishra was also found guilty in the case pertaining to fraudulent withdrawal of Rs 37.62 crore from the Chaibasa treasury in the 1990s.
The company said the committee, headed by independent director D Sundaram and assisted by independent legal counsel Shardul Amarchand Mangaldas & Co, and PricewaterhouseCoopers, found that the "allegations are substantially without merit".
RJD sources said that the party would appeal against the verdict.
The quantum of punishment will be announced on January 3, 2018.
Parliamentary affairs minister Ananth Kumar also attacked the Congress, which had not opposed the bill in Lok Sabha but voiced its strong opposition in the Upper House.
Hawkish guidance by the US Fed raises concerns it could tie the hands of RBI from trimming rates.
This after high drama in the House over what opposition charged was "intimidation" by the treasury benches to get the motion for sending the amendment to the RTI Act to the select committee rejected.
Queen Elizabeth II's household finances are at a "historic low" with just 1 million pounds left in reserve, even as the royal palaces were "crumbling" and in urgent need of repair.
The final guidelines to link the interest rate to external benchmarks will be issued by the end of this month
The US treasury bond has been perhaps the most resilient feature of the American economy.
Indeed, there were frauds, and the politician-banker-industrialist nexus played a role in the rise of NPAs, but governance issues in Indian banking are far more nuanced and complex, reveals Tamal Bandyopadhyay.
'If the Congress wants to keep the ship afloat, it will have to bury the differences.'
This is aimed at improving liquidity in all schemes and would help them to meet sudden redemption pressures, said Sebi chairman Ajay Tyagi.
Measure each word you utter in public, advises Virendra Kapoor.
The Monsoon Session of the Lok Sabha was adjourned sine die on Friday after 19 sittings that saw the passage of 14 legislation while Rajya Sabha came to an end after passing nine bills.
It is time for the three finance ministers of the 1990s to reveal the real hero, says T C A Srinavasa-Raghavan.
Abheek Barua & Bidisha Ganguly explain why the US treasury should intervene if the overvalued greenback continues to rise.
The US, he said, is working in the G-20 to help build consensus on long-term reforms that will provide the foundation for a more balanced, more stable global economy.
TMC and other opposition party members rushed into the well of the House as Vaishnaw was called to make a statement over the issue.
A day after the US dragged China to the World Trade Organisation, Treasury Secretary Timothy Geithner is slated to brief two key congressional committees later on Thursday on how the Obama administration plans to make Beijing provide a more-level playing field to American firms.
China is also the largest owner of the US Treasury securities.
However, the RBI is still not in a mood to issue an OMO calendar, which was the expectation in some sections of the market.
US Treasury Secretary Timothy Geithner has said that he is in favour of expansion of H-1B visa programme, offered to highly skilled professionals and students to live and work in the country.
The Reserve Bank of India on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy faces heat of the second Covid wave.
Opposition on Thursday forced deferment of consideration of the contentious Mines and Minerals Bill in Rajya Sabha till on Friday.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
Both Houses have been witnessing a ruckus over the Rafale fighter jet deal and Cauvery river issue, among other matters.
A summary of sports events and persons who made news on Thursday
The studies found that sectors with the highest unaccounted income included real estate, mining, pharmaceuticals, pan masala, gutkka and tobacco, bullion and commodity markets, film industry, educational institutes and professionals.
The 41- year old is currently the head of macro trading in Goldman's Securities Division.
Former US Treasury Secretary Robert E Rubin has been appointed as the chairman of the Citigroup after the resignation of its embattled CEO Charles Prince, prompted by major write-offs by the world's biggest bank following turmoil in subprime loan and credit markets. Vikram S. Pandit, an Indian, who took over Citigroup's investment banking operation in early October, just six months after joining the bank, is one contender for the top post.
Indian-Americans are taking over the country, United States President Joe Biden said on Thursday, referring to the high number of people from the community getting a place in his administration.
The US president puts Pyongyang back on list of state sponsors of terrorism for first time since 2008.
A summary of sports events and persons who made news on Friday
'There is a misconception that gold is a dead asset in India.' 'Around 30 per cent of agriculture loans are collateralised by gold, Soumya Kanti Ghosh and Saket Hishikar, economists at the SBI, point out.
The recent weakness of the rupee has been due to yuan's devaluation.
