The finance ministry has proposed to decriminalise a host of minor offences, including those relating to cheque bounce and repayment of loans, in as many as 19 legislations to help businesses tide over the crisis caused by the coronavirus outbreak. The 19 legislations include Negotiable Instruments Act (cheque bounce), SARFAESI Act (repayment of bank loans), LIC Act, PFRDA Act, RBI Act, NHB Act, Banking Regulation Act and Chit Funds Act.
If the nominations are not in place, the heirs need to go through a lengthy process to get access to the money cautions Bindisha Sarang.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
Rohingyas settled in Jammu tells how they are facing a battle for survival
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.
'The temptation of governments, to have a finger in the RBI pie will be just too great to resist, unless extensive amendments are carried out in the RBI Act treating it almost as the fourth branch of the government.'
The government has signed Bippas with 72 nations.
Monetary policy stance to depend on inflation data
Rising production from OPEC as well as the US also weighing on prices
Watal panel had suggested an independent payments regulator be set up.
A well-functioning GST will enhance tax compliance and boost growth: IMF
Economists warn of the impact that a Fed rate rise could have on emerging economies.
Once the patients are identified, the government will decide on the quantum of compensation in each case and then approach J&J for claim settlement.
Consistent capital inflows and a recovery in local equities helped the local unit to trim initial losses
The S&P BSE Sensex ended down 371 points at 24,966 and the Nifty50 closed 101 points lower at 7,615.
Says one of the problems in addressing the issue of black money is that India's tax system is perceived as being arbitrary
The RBI now brings in important and contentious changes directly through voluminous Master Directions, or Master Circulars
Has the Modi government been more at odds with institutions than other governments? There is no doubt that there have been more run-ins. While the RBI and CBI cases have drawn attention, there have been others, less publicised, Subhomoy Bhattacharjee points out.
Chinese police have mobilised one lakh-strong citizen army in Beijing with monetary rewards to gather intelligence against potential terror attacks as part of national anti-terrorism campaign, according to media reports.
'Modi, with his sharply honed political savvy and undoubted grasp of international affairs, is a past master at taking the measure of world leaders.' 'He would be the last person to think of the unpredictable and not too well-regarded Trump as the mediator,' says B S Raghavan.
Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
The idea is to boost household savings and turn more of them into growth capital. If the plan succeeds, sustained eight per cent-plus rates of gross domestic product growth should be within reach in a few years.
Oil prices were poised for a third day of gains following a rise of more than 4 percent last week after Islamic militants seized much of northern Iraq as Baghdad's forces there collapsed.
Weakness in the greenback overseas against the backdrop of sluggish US macro data outcome helped the home currency move higher
The finance ministry has put out a revised draft in public domain.
Indian economy has good fundamentals and sizeable foreign reserves, RBI Governor Raghuram rajan said.
The economy hasn't gathered even half the traction that some of us assumed it would just a year back.
On the 10th anniversary of the global financial crisis, a multi-part series analyses the lessons learnt and those not learnt.
The crackdown on black money has manifested itself in a doubling in outward remittances as black money attempts to leave India.
For 2017-18 and 2018-19, investors are better off focusing on the quality of measures announced in the Budget and outside it rather than on the Budget numbers themselves, says T T Ram Mohan.
With a sole mandate of inflation targeting, RBI wears many hats.
The Survey projected growth rate of 7-7.75 per cent for 2016-17 with downside risks due to weak global economic scenario.
Banking and telecom will see the highest impact of this transition.
The world economy is going through a tough phase.
The NSE and BSE made Rs 965.5 crore (Rs 9.65 billion) and Rs 135.2 crore (Rs 1.35 billion), respectively, in profits for FY14.
Foreign exchange reserves of the oil producers have increased by $1.1 trillion over the past decade.
Indians want change and progress. They should be willing to accept tough decisions, says Sanjeev Nayyar.
Even as floods play havoc in Uttarakhand, several states have opposed the provisions of a 38-year-old Model Flood Bill aimed at minimising losses to life and property in the natural calamity.
While Modi must worry about the electoral backlash of bailing out state-owned banks, China's communist rulers face fewer constraints.
Eleven years on, while 80% of scam-hit investors have been fully compensated, more than 50% of the sum is yet to be distributed.
