Under Urjit Patel, the then RBI Governor, the central bank had a habit of making complete about-turns on various issues, including electoral bonds and digital payments, former finance secretary Subash Chandra Garg said in his book titled 'We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.' Citing some instances of about-turns by the then RBI Governor Patel, Garg in his book said, RBI had done so on the electoral bond issue and it had so in case of setting up of Payments Regulatory Board (PRB). RBI also made unilateral decisions like ordering complete data localization for participation in the payment system, Garg wrote in the book which will hit the stands on October 1.
The RBI under former governor Shaktikanta Das resisted pressures to cut interest rates through 2024 as it kept its 'Arjuna's eye' trained on inflation, but the central bank under a new detail-oriented head will soon have to take a call if it can continue sacrificing growth. Das, a career bureaucrat who in 2016 oversaw Prime Minister Narendra Modi's highly disruptive demonetisation move, left a lasting legacy as he demitted office towards the end of 2024 after expertly navigating monetary policy for six years, the highlight of which was steering India's recovery through the pandemic.
Senior bankers anticipate discussions on issues related to technology, cyber security, and customer protection.
A bench of Justices P S Narasimha and R Mahadevan asked the LG's office to not hold elections for the post of chairman of the Standing Committee till it hears the plea of Mayor Shelly Oberoi against the September 27 Standing Committee polls.
Maharashtra Chief Minister Devendra Fadnavis announced that he, his deputies Ajit Pawar and Eknath Shinde, will work in shifts to ensure round-the-clock governance. Fadnavis will work from 12 noon to midnight, Ajit Pawar, known for his early rising habits, will be on duty in the morning, and Shinde, known for his late-night work ethic, will handle the night shift. This arrangement comes after Ajit Pawar's controversial return to the BJP-led government following a split from the Nationalist Congress Party (NCP). The NCP, under Sharad Pawar's leadership, is now a part of the Maha Vikas Aghadi alliance with the Congress and Shiv Sena (UBT). The recent assembly elections saw the Mahayuti alliance, comprising the BJP, Shiv Sena, and Ajit Pawar's NCP faction, securing a comfortable majority.
The government on Tuesday appointed three external members -- Ram Singh, Saugata Bhattacharya and Nagesh Kumar -- to the RBI's rate-setting Monetary Policy Committee for four years. The central government has reconstituted the Monetary Policy Committee (MPC) of RBI, the finance ministry said in a statement. Ram Singh is the director of the Delhi School of Economics, Saugata Bhattacharya is an economist, and Nagesh Kumar is the director and Chief Executive, Institute for Studies in Industrial Development, New Delhi.
A heated political battle erupted Tuesday over Arvind Kejriwal's claim of the Haryana government 'poisoning' the Yamuna water, with the Bharatiya Janata Party saying he cannot be forgiven for his 'dangerous statement', while the Aam Aadmi Party chief asserted he won't let the people of Delhi die due to the dirty, poisonous water.
Devendra Fadnavis will lead the new Mahayuti coalition government in Maharashtra, with Eknath Shinde and Ajit Pawar serving as deputy chief ministers. The swearing-in ceremony is scheduled for Thursday evening at Azad Maidan ground in south Mumbai and will be attended by Prime Minister Narendra Modi and several Union ministers. The Mahayuti coalition won the recent assembly elections by a landslide, securing 230 out of 288 seats.
The great literary figure of Malayalam and Jnanpith Award winner M T Vasudevan Nair, who had been undergoing treatment at a private hospital here following heart failure, has died, hospital sources said on Wednesday.
In a video message, Bose also said he will also socially boycott the chief minister.
One source, who recently spoke with the Prime Minister, said Trudeau understands the importance of making an announcement ahead of the caucus meeting to avoid the belief that he was ousted by his MPs.
Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday said the central bank has developed an innovative artificial intelligence and machine learning (AI/ML) based model MuleHunter.ai to address the growing issue of mule bank accounts that are often used for committing financial fraud. Developed by the Reserve Bank Innovation Hub, the new initiative is piloted with two public sector banks.
The Bharatiya Janata Party on Saturday returned to power in Delhi after more than 26 years to sweep away the Arvind Kejriwal-led Aam Aadmi Party with a two-thirds majority on the back of a hyper localised campaign and Prime Minister Narendra Modi's 'AAP-da'(disaster) blitzkrieg.
Tamil Nadu Governor R N Ravi on Friday re-allocated the portfolios held by arrested state Minister V Senthil Balaji, on the recommendations of Chief Minister M K Stalin but "has not agreed" to the minister continuing in the cabinet, the Raj Bhavan said.
Former Indian Prime Minister Manmohan Singh passed away on Thursday night at the age of 92. He was brought to the emergency department of AIIMS Delhi in critical condition after "sudden loss of consciousness."
The train, on its maiden trial run, arrived at Srinagar station in the Nowgam area on Srinagar's outskirts from Katra in Jammu.
Tamil Nadu Governor R N Ravi on Thursday dismissed minister V Senthil Balaji from the council of ministers days after his arrest by the Enforcement Directorate in a cash-for-jobs scam, a move that Tamil Nadu Chief Minister M K Stalin said the government would challenge legally.
'The ministry of home affairs has all records of money coming in from abroad.' 'Are they saying money is coming in without their knowledge?' 'Does the governor doubt the MHA?'
The US is currently Earth's most powerful country and a certain latitude of understanding -- a world view -- is popularly expected from its leadership. From a country identified with freedom, constitution, debate, democracy and the likes of Abraham Lincoln even as it had the most powerful military around, the US, following Trump's actions, seemed repositioned as militarily powerful with other qualities secondary, observes Shyam G Menon.
The opposition Maha Vikas Aghadi (MVA) in Maharashtra has collected letters of support from more than 160 of its candidates and some independents, pledging their backing for the alliance in forming a government in the state if voted to power. The counting of votes for the elections to the 288-member legislative assembly held on November 20 began on Saturday. The letters of support collected from more than 160 candidates will be presented to the governor after declaration of results, sources said.
The race to acquire diversified fintech firm Religare Enterprise Limited (REL) intensified as Dabur group promoters, the Burman family, said it was going ahead with the open offer on Monday and claimed that the counter offer made by US-based businessman Digvijay Gaekwad wasn't valid and will not stand scrutiny of market regulator Sebi. The Burman family claimed that the competing offer falls outside the 15-day window stipulated by the Sebi takeover code, following their initial offer on October 4th, 2023.
JMM leader Hemant Soren was sworn in as the 14th chief minister of Jharkhand in a grand ceremony in Ranchi, amid the presence of a galaxy of INDIA bloc leaders. This is Soren's fourth stint as chief minister. The JMM-led alliance won a majority in the recent assembly polls, securing 56 seats in the 81-member assembly.
'Till the BJP does not understand Kejriwal they cannot win Delhi.'
The bench asked the petitioner to circulate three copies of the petition for the three judges and cautioned with imposition of fine.
After Chief Minister Stalin moved a resolution, even as Ravi was speaking, that the speech was read, the governor walked out of the assembly.
Shiv Sena chief Eknath Shinde on Tuesday stepped down as Maharashtra chief minister, even as the suspense over who will succeed him as the new CM continued, three days after state assembly election results were announced.
The Mysuru Urban Development Authority (MUDA) case over which the Karnataka Governor Thaawarchand Gehlot accorded sanction for investigation against Chief Minister Siddaramaiah has its origins more than three decades ago.
United States President-elect Donald Trump on Tuesday announced the nomination of popular Fox News host and Army veteran Pete Hegseth, 44, as his defence secretary.
The Devendra Fadnavis-led ministry in Maharashtra has successfully passed a trust vote in the state assembly, securing a commanding majority of 230 seats in the 288-member house. The BJP-Shiv Sena-NCP 'Mahayuti' coalition, with a majority mark of 144, had a comfortable win with the support of smaller parties and independent MLAs. The trust motion was tabled by Shiv Sena MLA Uday Samant and others, and was passed by a voice vote. The 15th legislative assembly began its tenure on December 7, and the floor test was considered a mere formality. Fadnavis was sworn in as the chief minister for the third time on December 5, with Eknath Shinde and Ajit Pawar as deputy chief ministers.
Bharatiya Janata Party MLA Rahul Narwekar was on Monday elected unopposed as the speaker of the 15th Maharashtra legislative assembly.
Ahead of the Maharashtra assembly elections, Ajit Pawar's Nationalist Congress Party on Tuesday faced a major setback as over 600 party workers and officials from the Pune city unit resigned.
The Aam Aadmi Party on Wednesday said Rajya Sabha MP Sanjay Singh and Delhi minister Saurabh Bhardwaj would accompany the media on a tour of the chief minister's residence, which the Bharatiya Janata Party claims was turned into a 'Sheesh Mahal' during Arvind Kejriwal's tenure.
Dr Manmohan Singh's mortal remains were consigned to the flames at the Nigambodh Ghat in New Delhi on Saturday, December 28, 2024 amid the chanting of religious hymns.
Glimpses of the iconic NSE Bull and the newly renovated atrium at the National Stock Exchange headquarters in Mumbai.
The governor of a state is not empowered to enter the political arena and play a role in inter-party or intra-party disputes, the Supreme Court said on Thursday, holding that the discretion exercised by then Maharashtra Governor Bhagat Singh Koshyari asking Chief Minister Uddhav Thackeray to face a floor test was "not in accordance with law".
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