FM says government policies aim to contain inflation, spur growth.
The industrial output for the third month in a row remained in the negative territory, contracting 1.5% in January
Central banking is a science, not an art, Tamal Bandyopadhyay tells RBI Governor Shaktikanta Das.
Urjit Patel panel wanted all members to be appointed by RBI
The resignation is sure to create more political firestorms for the government as it comes on the eve of the winter session of Parliament where the Opposition has already made it clear to the treasury benches that infringing on the RBI autonomy would be a big talking point for them.
A K Bhattacharya lists three reasons why Finance Minister Arun Jaitley will most likely present a full Budget on February 1, 2019.
With the setting of MPC, the interest rate setting powers would move from RBI Governor to the panel.
RBI will take a cue from the Fed policy statement.
India's current limit of $25 billion for ownership of government bonds by FIIs is fully utilised, leading to calls for increasing it
He said it will be 'foolhardy' to diminish institutions for short-term political gains.
If indeed the issues involved between the government and RBI are of immense public interest, why not make public the arguments of both the government and the RBI, irrespective of the outcome of the process, says Tamal Bandyopadhyay.However, the Act is silent on what happens if the governor's views differ from that of the government. If Patel does not want to budge from his stance the government can either see merit in the Governor's arguments and decide against going ahead with its plan or overrule him. My guess is that the issues raised by the government need to be sorted out not at the November 19 board meeting but between the Governor and the government, says Tamal Bandyopadhyay.
'The autonomy of essential institutions is clearly under question as the Modi government seeks to influence them politically.' 'The credibility of institutions such as the EC, the CBI, the CVC, the UPSC, the RBI, media, and universities, has been compromised,' notes Zoya Hasan, the distinguished political thinker.
'Modi remains the most popular politician in India; the BJP's organisational and fundraising prowess is considerable; and the Opposition, while newly collaborative, has no leader or clear economic messaging as of yet.'
RBI unsure whether to cut rates or not in its next monetary policy.
The central bank gave 11 entities licences to start payments banks.
A section of the media on Thursday reported, quoting an unnamed EC official, that it may not allow RBI to go ahead with the plan before the polls and that they need more clarity from the Mint Road on certain aspects.
The finance minister has said that United Bank has managed to reduce its non-performing assets.
'If the RBI had done the right things, these mistakes would not have happened in banks, public or private,' says Ajay Shah.
'When there is no middle ground possible between the government and the governor, the governor has to go.'
To mark the anniversary of note ban, the Congress was observing a 'black day'.
This was among the few times that TCS had to deploy rapid application development mode, which means changes in the application happen on-the-go.
The scrutiny is expected to be over this month itself.
RBI Governor Raghuram Rajan on Friday defended his development index for measuring backwardness of states, saying the aim is to "encourage development" and "everything over and above that is a political spin."
'Normally, the system is geared towards counting notes -- it is equipped to do x amount of work and one day you are asking them to do 20 x.' 'The processes involved are very complex.'
Reserve Bank of India (RBI) Governor Raghuram Rajan has set himself a target of lowering consumer inflation and is even ready to raise rates to achieve it, risking friction with the new government, if he is seen as overstepping.
The Reserve Bank of India is not a free agent. It never has been, nor should it ever be.
A glance back at some important events that occurred in 2018.
A senior official with Muthoot Finance said the group would also want to apply for a universal licence.
P Chidambaram said that the fiscal deficit target for 2013-14 will be met and the current account deficit will be contained below $40 billion.
Will RBI chief have the final say, in the form of a veto
That's all it takes to protect an institution -- just one person with no past and no greed for the future, says Shekhar Gupta.
'Government of India has the right to give directions to RBI'.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
Sahil Kapoor of Edelweiss Retail Capital Market Research says that setting up a monetary policy committee should have been the first step. And the central bank could have moved towards a formal inflation targeting mechanism after the processes and data sets are in place.
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