The move came after Prime Minister Narendra Modi told chief ministers of the seven worst affected states on Wednesday that his government has increased the states' limit to spend the SDRF to boost infrastructure to fight the pandemic.
A parliamentary panel on Friday opposed the new bank licences to corporate houses and voiced concerns over the discretionary power vested with RBI for applying 'fit and proper' criteria for deciding on applications.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
RBI, however, does not want banks to get into it, as it is speculative.
The first phase of the trade deal includes IP protection and enforcement, ending forced technology transfer, dramatic expansion of American agriculture, removing barriers to American financial services, ending currency manipulation, rebalancing the US-China trade relationship and effective dispute resolution.
Amitabh Chaudhry, who will now head the merged entity, will manage assets under management of about Rs 1.10 lakh crore and an employee base of 23,620 after the completion of the deal
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
'We will do whatever is necessary when the day and moment arrives.' 'As a party which has ruled Maharashtra for most of its existence, we also have our base and turf to protect.'
An ordinance to protect Hindu temples and manage their affairs across Kashmir Valley is in the offing.
"We may rope in a consultant for our proposed foray into banking business, if that is required. This will happen after the final guidelines on banking license is out by the Reserve Bank of India (RBI)," Director and Chief Executive of LIC Housing Finance, V K Sharma said.
He also said the city had a long way to go before it could reach the status of a global city, and said that greater autonomy and better governance of the city would ensure the global city status, says the finance minister.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
Fraud in Citibank's Gurgaon branch broke out in December involving nearly Rs. 400 crore being siphoned out from 20 accounts of high net-worth individuals.
The finance minister asked lenders to identify eligible borrowers and reach out to them and urged for quick implementation of a sustained resolution plan for the revival of every viable business.
RBI to issue discussion paper on new licence conditions this week.
Sensex ends in green, bluechips in spotlight.
While passing the scrutiny of courts is a tough challenge, with eight proposed amendments to the insolvency law, the government has sought to turn the focus back on at least some of the functions of the bankruptcy law.
Attributing to people familiar with the matter, The Wall Street Journal said AIG is preparing to pay Kelly several million dollars in severance after she resigned over federal pay curbs.
K K Mistry, currently vice-chairman and managing director, will take over as vice-chairman and CEO when Parekh steps down on January 1, 2010.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
Hoping to meet the indirect tax collection target this fiscal despite a negative trend in the first four months, Finance Minister Pranab Mukherjee on Tuesday ruled out tax cuts to tackle the drought faced by nearly half of the country.
The payment of $1,90,000 to a high-profile lobbyist firm in Washington, BGR Holding, was made by RIL in the first quarter of 2009, and is the first instance of any lobbying by the Indian company with the US lawmakers.
Jaitley has made it a habit of giving soundbytes to the media like his predecessors on why RBI should cut interest rates
US President-elect Barack Obama has appointed a 17-member high-level team of advisers including billionaire investor Warren Buffett and Google chief executive Eric Schmidt to guide him in channelising the economy, a media report says.
The RBI working group's proposal to allow corporate houses to set up banks is a "bombshell" and at this juncture, it is more important to stick to the tried and tested limits on involvement of business houses in the banking sector, according to an article jointly written by former RBI Governor Raghuram Rajan and ex-Deputy Governor Viral Acharya. They also said that the proposal is "best left on the shelf".
Thackeray said lockdown has been partially eased because economic activities need to continue as 'now we have to learn to live with the virus'.
'Clearly, the depositors of cooperative banks need the maximum protection.'
Sebi is planning to fast track mutual fund products. This move will speed up the approval process and help fund houses to cater to investor demands.
The board of directors has considered the proposal entailing the demerger of Indiabulls Securities on a going concern basis and plans to list the resulting entity after the demerger, Indiabulls Financial informed the Bombay Stock Exchange.
DFS writes to departments that haven't responded to RBI's request for information.
Unhappy PAC asks Urjit Patel to give written answers on note ban.
'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.
'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.
Agreeing to a $633.3 billion defence authorisation bill for the fiscal 2013, a conference committee of the United States Congress has sought from the authorities a "review and report" regarding defence ties with India.
The Pentagon has notified the Congress about its decision to reimburse $688 million to Pakistan, under Coalition Support Fund (CSF), which is cost of providing support for some 140,000 troops stationed at the Afghan-Pak border.
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