Economy

Addressing issues concerning the banking sector will be one of the immediate priorities of the newly-appointed Governor of the Reserve Bank of India, Shaktikanta Das, who has called for a meeting with the chief executives of Mumbai-based public sector banks on Thursday. “To begin with, I have convened a meeting …

Central bank’s sanctity should be preserved: former CEA Former Chief Economic Adviser Arvind Subramanian said it is important to protect the Reserve Bank of India’s (RBI) autonomy and there must be open technical discussions on issues in the present context. ‘No politicising’ “I want to convey that preserving the integrity, …

However, market volatility may continue ahead of RBI meet Benchmark equity indices rose sharply on Wednesday as investor confidence grew after the appointment of a new governor for the Reserve Bank of India (RBI) and the State election results fuelling hopes that the government would increase rural spending, among other …

New RBI Governor says he will interact with stakeholders to assess whether liquidity remains a constraint Reserve Bank of India Governor Shaktikanta Das said though inflation outlook seems benign, one should be watchful of the developments. After raising interest rates twice in the last six months and changing the monetary …

Urjit Patel’s resignation as the RBI Governor will cause jitters in the stock market and uncertainty over the central bank’s policies regarding non-monetary policy issues such as Prompt Corrective Action (PCA) norms, and diluting the Insolvency and Bankruptcy Code rules for power sector companies, economists have cautioned. “This [the resignation] …

Gross direct tax collections surged 15.7% to Rs. 6.75 lakh crore for April-November, the finance ministry said in a statement on Monday. Refunds worth Rs. 1.23 lakh crore have been issued in the eight months of the current fiscal, which is 20.8% higher than refunds issued in the same period …

Urjit Patel, who quit as the RBI Governor on Monday, had spoken strongly about the need for the central bank’s autonomy when he deposed in front of the Parliamentary Panel on Finance two weeks ago. The former Governor had also pointed out that non-performing assets had been reducing since their …

The government had appointed Urjit Patel as Reserve Bank of India (RBI) Governor after his predecessor Raghuram Rajan’s tenure ended. With Dr. Patel’s appointment in September 2016, it was believed that the ties between the Centre and the RBI would improve. However, the relationship showed signs of stress just after …

Chief Magistrate Emma Arbuthnot on Monday ordered businessman Vijay Mallya to be extradited to India, and referred the case to British Home Secretary Sajid Javid for signing the extradition order. Mr. Mallya will now have 14 days to lodge an appeal. In ruling against Mr. Mallya, the judge at Westminster …

At the press conference post the fifth monetary policy review on December 5, Reserve Bank of India Governor Urjit Patel brushed aside a question on reduction in cash reserve ratio (CRR) saying that it is not in the ambit of the Monetary Policy Committee (MPC). On the face of it, …