"There are some pros and cons the RBI needs to keep in mind. The credit tightening, in terms of interest rates - we were expecting that was going to slowdown growth. We were expecting that was also going to slow down inflation. Unfortunately, what seems to be happening is, it is impacting growth and not having sufficient impact on inflation," Basu said.
'Farmers have been sent notices in which the government is threatening that if you will join the movement, then we will impound your ancestral properties.' 'We will seal your bank accounts.' 'We will revoke the passports of your kids.'
P K Ajwani was wanted in connection with a disproportionate assets case.
The Reserve Bank of India (RBI) on Friday decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying rate cuts in the future if need arises to support the economy hit by the Covid-19 pandemic.
CEOs of leading banks say third straight rate hike by RBI inevitable, though not desirable.
On the controversial AFSPA, the home minister said, "We will also think of revoking AFSPA."
With uncertainty prevailing over the rates of Employees Provident Fund, CPI(M)-backed trade union, Centre for Indian Trade Unions, said on Friday that it would oppose any move to keep differential interest rates
Among PSBs, the top gainers have been Union Bank of India and Corporation Bank, whose shares have rallied more than 15% each. Indian Bank and Bank of Baroda, too, registered double-digit rise
In a 7-page letter Choksi said, he was being threatened by the individuals with whom he has business relationship and due to the seizure of his assets, his employees, customers and creditors have started to show animosity towards him.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
"Heard. Judgement reserved. Learned counsels of the Union of India and Reserve Bank of India are directed to produce the relevant records," the bench, also comprising Justices B R Gavai, A S Bopanna, V Ramasubramanian, and B V Nagarathna, said.
Indian Economy poised for growth, say experts.
The year 2014-15 could well go as one of long-pending financial sector reforms, expected to have a lasting impact.
What will be the impact on the Euro itself? Will it devalue and to what extent?
To tackle increasing demand, the Union Ministry of Power has urged central and state public-sector power-generating companies (gencos) and state power and energy departments to pick projects that are undergoing insolvency proceedings. The power ministry is looking at a quicker turnaround of these stressed power plants and enhancing power supply. Increasing demand is pushing states to scout for more power sources. "It is requested that state-owned gencos may be encouraged to participate in the corporate insolvency resolution process (CIRP) of stressed power assets, which are of strategic and commercial significance to the capacity addition plans of the states concerned.
The Supreme Court on Wednesday allowed banks and financial institutions to provide services related to cryptocurrencies by setting aside the RBI's 2018 circular which had prohibited them. A three-judge bench, headed by Justice R F Nariman, said the Reserve Bank of India circular is liable to be set aside on the ground of "proportionality". "Accordingly, the writ petitions are allowed and the circular dated April 6, 2018 is set aside," said the bench, also comprising justices Aniruddha Bose and V Ramasubramanian.
He said it will be 'foolhardy' to diminish institutions for short-term political gains.
Given Indian corporates's high indebtedness, new credit will be used for servicing loans rather than building factories. This is setting us up for more companies on life support and more zombie banks, warns Rahul Jacob.
Most economists feel the RBI has room for a 25-basis point cut, having met inflation targets comfortably
All Sensex components ended in the red. IndusInd Bank was the top loser, followed by Tata Steel, HDFC, ICICI Bank, Axis Bank, Infosys and ITC. According to traders, volatility heightened in global markets as US Federal Reserve's interest rate cut stoked concerns over an impending economic recession.
The junior Abdullah would be banking heavily on Shia support as the constituency has many Shia dominated areas that include Budgam, Beerwah, Pattan, Sonawari and Bandipora, among other pockets.
A day ahead of a crucial G20 meeting, External Affairs Minister S Jaishankar on Wednesday evening hosted a welcome dinner for the foreign ministers attending the deliberations but the reception was missed by his counterparts from the US, China, Germany and France.
India's manufacturing sector activities lost further growth momentum and fell to a seven-month low in March as demand was constrained by the escalation of the COVID-19 pandemic, a monthly survey said on Monday. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in February to a seven-month low of 55.4 in March. However, the latest reading was indicative of a substantial improvement in the health of the sector that outpaced the long-run series average, it said. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.
After inaugurating development projects worth nearly Rs 5,000 crore for boosting the agri-economy in the Union territory, Modi said he was "elated to be among the wonderful people of Srinagar".
After navigating the turbulent pandemic waves, the recovering Indian economy is now sailing through unchartered waters of rising coronavirus cases, spiralling commodity prices and spiking inflation though the lighthouse of sustainable growth remains visible. As 2022 begins, a raft of developments, ranging from Budgetary announcements to continuation of stimulus measures to monetary policy, will set the tone for the domestic economy, which is projected to grow more than 9 per cent in the current fiscal ending March 2022. The country's continuing massive vaccination drive and 'precaution' doses starting for select categories of people this month will provide a firewall against any steep spike in coronavirus cases amid the emergence of the Omicron variant.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
India has much paranoia in India about a new 'Terroristan' coming up between Pakistan and a Taliban-ruled Afghanistan. Pakistan has zero ability economically, diplomatically, geostrategically or militarily to create one. If they try, it will be great for India as they will destroy themselves yet again, asserts Shekhar Gupta.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
India's gross tax revenue, comprising both direct and indirect taxes between April and July, reported a growth rate of merely 2.8 per cent to Rs 8.9 trillion compared to the same period a year ago, as shown by government data on Thursday. This growth was dampened by direct tax figures, offsetting the healthy growth in goods and services tax collections and Customs duties. While net tax revenue contracted by 12.6 per cent to Rs 5.8 trillion up to July, accounting for 25 per cent of the Rs 23.3 trillion full-year target, this could be attributed to the increased tax devolution to states during the period.
'The BJP supporters assert that the appeal of Modi remains a big draw for voters.' 'While the Opposition's alliance is hoping to counter it with its social arithmetic.'
Searches conducted by the Enforcement Directorate (ED) under the anti-money laundering law rose by 86 times while arrests and attachment of assets jumped by around 25 times in the 10 years since 2014 compared to the preceding nine-year period, according to official data.
The apex court's five-judge Constitution bench headed by Chief Justice Dipak Misra said Aadhaar is meant to help benefits reach the marginalised sections of the society and takes into account the dignity of people not only from personal but also from community point of view.
The employment situation remains dire. Whatever can be done to promote greater low-skill employment should be pursued aggressively, advises former chief economic adviser Shankar Acharya.
India's economy is not like Western ones, and thus needs restrained fiscal policy even during a recession, says Ajay Shah.
This permission was given some time late last month, before the Reserve Bank of India (RBI) on March 31 issued the indicative borrowing calendar for the states for April-June and the one for the Centre for April-September.
Lack of clarity on data-sharing persists, public health experts sceptic about the pilot that was run in six Union territories as benchmark for national roll-out
On the sectoral map, consumer durables stayed in the lead by surging 2.39 per cent, followed by realty index, oil and gas and infra.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
Finance Minister Nirmala Sitharaman's Rs 30,600 crore government guarantee for the bad bank has changed the body language of bankers for the better, observes Tamal Bandyopadhyay.
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