'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
'When I came here in 2002, I said you can grow at 8%.' 'And I was told that was crazy, and (now) here we are.'
'Most importantly, marking a departure from the past, the RBI has made it clear that it is not overtly worried about the level of the local currency,' notes Tamal Bandyopadhyay.
'Has the time come to devise Version 2 of ad hoc T-bills?' 'In return, the government must agree to privatise all but five or six banks.' 'If something like this is not done, we will have governments going on the rampage, with increasing frequency,' says T C A Srinivasa Raghavan.
A three-year validity of an inflation target is, perhaps, more reasonable and practicable.
In all, RBI has cut interest rates by 110 bps this year. But this has not yet led to a boost in economic activity. While the growth rate has slowed to a five-year low, consumer confidence is waning and foreign direct investment has plateaued.
The government would also take steps to promote exports and restrict non-essential imports, said Jaitley
Given the pressure from India Inc and the banking fraternity, it is surmised that the portfolio rejig will take place before April.
'There is merit in keeping the central bank's balance sheet strong if the government's fiscal balance sheet is weak.'
To do so, the government will have to tackle a number of broad development challenges successfully, says Shankar Acharya
The banking sector in India is reeling under Rs 8 lakh crore of non performing assets (NPAs) or bad loans, of which PSU banks alone account for over Rs 6 lakh crore.
2018 has been a disappointing and highly volatile year for equity investors.
'His (Das) approach to work seems that of working as a team with ease in communication.'
'The no-rate cut policy and preference to wait for the Budget and clarity on the fiscal front demonstrate RBI Governor Shaktikanta Das is maturing in his new role,' notes Tamal Bandyopadhyay.
RBI recently cut repo by 0.25 percentage point, taking the rate to 7.25 per cent in three reductions since January.
'Rajan brought in a healthy air of competition in the banking sector.'
India's growth, he said, remains resilient with low inflation, fiscal prudence and low current account deficit, talking about robust structural reform measures.
The year 2014-15 could well go as one of long-pending financial sector reforms, expected to have a lasting impact.
'Only the coming years will tell whether the government finds this an easy way of relieving itself from its fiscal constraints.'
RBI said inflation in the second half of the current fiscal is projected at 2.7-3.2%. It retained its GDP forecast for the current fiscal at 7.4%
You must remain invested in bank deposits, unless you are considering the idea of earning higher returns by moving to gilt or liquid funds, says Adhil Shetty, CEO, BankBazaar.com.
Only Rs 16,050 crore out of the Rs 15.44 lakh crore of the old high denomination notes have not returned.
T C A Srinivasa-Raghavan recalls a tussle between the government and RBI when Rajiv Gandhi was prime minister and how it was resolved.
Reserve Bank of India (RBI) Governor Raghuram Rajan spoke on a host of issues at his last post-policy interaction with the media
While Arun Jaitley remains part of the decision making process, Piyush Goyal, who was given additional charge on May 14, attends cabinet meetings and takes the day-to-day decisions.
'The time has come to incorporate Indian sociology into economic policy.' 'The first step in that direction would be to listen to economists trained in India and not just the US and the UK, argues T C A Srinivasa-Raghavan.
The unity by the opposition parties is likely to reflect inside Parliament as well.
'People always short-change the resilience of the economy.'
Not only is gold a hedge against currency depreciation, rising crude prices and uncertainty, it is up 7 per cent (in dollar terms) in the past 12 months, says Devangshu Datta.
The 30-share Sensex jumped 729 points to end at 28,076 and the 50-share Nifty soared 217 points to end at 8,494.
There is as yet no clarity on how the process of consulting with the RBI Governor, initiated under Section 7 of the RBI Act, would unfold in the coming days. The government is keen that its suggestions made in the public interest should be heeded by the central bank, says A K Bhattacharya.
'This is not without risk because extraordinary steps taken in exceptional times have the habit of becoming habits until the next crisis intervenes,' warns T N Ninan.
The average bank customer does not know about the Customer Charter because it was designed - under Mr Rajan's regime - to be a lame duck initiative from the start: violating the charter has no consequences, points out, Debashis Basu.
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
The opposition made it clear during the meeting that it will press for a joint parliamentary committee to probe the Rafale jet deal and raise several issues, including the "misuse" of probe agencies and the autonomy for Reserve Bank of India.
'It is like bombing a building with 200 people to kill 5 terrorists.'
Desperate times need desperate actions, and the BJP's only option is to enforce legislation to build a Ram mandir, says Sunil Sethi.
RBI could opt for a 'deep cut' after winning inflation war, say experts.
Rahul Gandhi said the meeting was very productive and everyone decided to stop the BJP from further assault of institutions and the Constitution.
Adani Mining is building a 300-km rail line for its about $16 billion Carmichael coal mine project in Australia.
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