The Supreme Court in a 4:1 majority verdict upheld the government's 2016 decision to demonetise Rs 1,000 and Rs 500 denomination notes, saying the decision-making process was not flawed.
Many PSU banks had recently cut interest rate on loans for two-wheelers and consumer durables.
Govt has taken corrective steps to revitalise investor enthusiasm, spur growth, and tame spending.
To meet the financing requirements of the infrastructural deficit, many more institutions are required to share this responsibility, Chidambaram said on Tuesday, while launching operations of India's first Infrastructure Debt Fund under the NBFC Structure by handing over the First IDF -- NBFC License to the Promoters of India Infra Debt Limited -- ICICI Bank, Bank of Baroda, Citibank and Life Insurance of Corporation.
In a pre-budget memorandum, submitted to the Union Finance Minister, P Chidambaram, the US India Business Council said it was concerned over the several recent policy initiatives of the Indian government in this regard.
Union Finance Minister P Chidambaram has said the Group of Ministers headed by him will work towards giving Central Bureau of Investigation "functional autonomy" but at the same time asserted that accountability is "important".
A small-scale industrialist in Puducherry was arrested on Tuesday for allegedly posting 'offensive' messages on the micro-blogging site Twitter targeting Union Finance Minister P Chidambaram's son Karti Chidambaram.
Union Finance Minister P Chidambaram on Sunday slammed the Bharatiya Janata Party for not supporting the United Progressive Alliance government's efforts to pass a resolution in Parliament on the Sri Lankan Tamils issue and rejected accusations hurled at the Congress.
While presenting the Interim Budget 2014-15, the Union Finance Minister P Chidambaram said that in the next three decades India will become the third largest economy behind US and China.
Commenting on economic reforms, he claimed that accord is necessary to achieve these objectives in India.
India can never be a truly happy, prosperous country unless our passion for growth is combined with compassion for the poor, said Chidambaram.
Addressing officials of Puducherry government and various banks at a meeting organised by state level Bankers Committee in Puducherry, Chidambaram said 'with the availability of banking technology, the scheme is not a complex arrangement but an easy programme.'
How Kamal Nath left the Opposition leaders stumped... Why Montek Singh is avoiding the poverty line... Mamata Banerjee's newest enemy. All this, and more, in this week's Dilli Gupshup.
How Kamal Nath left the Opposition leaders stumped... Why Montek Singh is avoiding the poverty line... Mamata Banerjee's newest enemy. All this, and more, in this week's Dilli Gupshup.
Union Finance Minister P Chidambaram's proposal about setting up an all-women bank -- first suggested in this year's budget -- received much acclaim.The proposed bank will lend mostly to women and women- run businesses, support women self-help groups and women's livelihood, Chidambaram had said.
Students across Tamil Nadu, including in Chennai, continued their protests on the Sri Lankan Tamils issue while some fishermen in Nagapattinam district observed a fast mid-sea.
Soon after Union Finance Minister P Chidambaram presented the Union Budget 2013 in Parliament, Trinamool Congress leader and former Railway Minister Dinesh Trivedi joined us for the Budget chat.
In an exclusive conversation with Rediff.com, Finance Minister P Chidambaram's son Karthik Chidambaram stated that the Union budget presented by his father in Parliament on Thursday was a "gender sensitive" one.
After discussions, there may be changes the Bill.
Believe it or not, Prime minister Manmohan Singh's Cabinet is unable to arrive at consensus on the exact identity of AADHAAR -- Unique Identification Number (UID).
India needs administrative reforms that make it easy for investors to do business in the country. Currently, it is more difficult to do business in India than in Rwanda, Pakistan, Nepal, Kenya, Nigeria and Bangladesh.
Image used for representational purpose only. Photograph: Jayanta Dey/Reuters The Congress also said demonetisation has come a full circle and added that the Rs 2,000 note was a "band-aid to cover up the foolish decision of demonetising" Rs 500 and Rs 1,000 notes.
A day after Chidambaram asked RBI to speed up the process of issuing new bank licences, Subbarao said last Friday that it would not be possible without fulfilling the enabling conditions for the same.
Old age pension, scholarships, Minimum wages under Mahatma Gandhi Rural Employment Guarantee Scheme, subsidies for ration and LPG would be paid directly to the beneficiaries.
Though no reason was officially cited for his absence, Trinamool Congress sources here said Mitra will attend a crucial parliamentary meeting of the party in Kolkata on Tuesday to discuss the Centre's decision to hike diesel price, restrict of subsidised cooking gas and allow FDI in retail and decide the future of the party's ties with the United Progressive Alliance.
Congress leaders at the All India Congress Committee presented Union Finance Minister P Chidambaram their most important wishlist for the coming budget, when he came calling at 24 Akbar Road on Thursday evening: 'Since they are now in the election year the Congress needs a people-friendly and a vote-friendly budget'.
Aap ka paisa, aap ke haath (direct cash transfer). This is the new slogan with which the Congress hopes to woo back the aam admi, the poor, the marginalised and the weaker sections as the government has launched an ambitious direct cash transfer scheme with Union Finance Minister P Chidambaram calling it a 'game changer'.
Mamata Banerjee has announced a Rs 500 crore relief package to assuage those who lost their money to the Saradha chit fund. As West Bengal is dancing on the edge of bankruptcy, this money will be raised from taxes on tobacco. Having already seen their savings go up in smoke the people of West Bengal must now puff away whatever is left, says T V R Shenoy.
Union Finance Minister P Chidambaram, at a joint press conference along with Coal Minister Sriparkash Jaiwal and Minister of Law and Justice Salman Khursheed said that if the Bhartiya Janata Party continues to disrupt Parliament and refuses to hear Prime Minister Dr Manmohan Singh, "Then we would have to find out alternatives to address the people of India through the media to put forward our point of view."
Why is Union Finance Minister P Chidambaram worried? Who has the sharpest eye in the Congress? How is the Union law minister tackling the turmoil in his ministry? Catch up on all the gossip from Delhi, in this week's Dilli Gupshup.
Is the 'caged parrot' at work again, asks Uttam Ghosh.
Union Finance Minister P Chidambaram's mother Lakshmi Palaniappan died on Friday. She was 92, her family said.
FM's decision to make PAN card a neccessity for financial transactions has worried life insurers, who will find it difficult to tap rural India with this requirement.
Union Finance Minister P Chidambaram will meet the heads of public sectors banks and financial institutions, like IFCI and Small Industries Development Bank of India (Sidbi) on Tuesday to review their performance for the second quarter ended September 2008.
CPI (M) General Secretary Prakash Karat called all 'non-Left' parties to resist Union Finance Minister P Chidambaram's financial sector reforms plans. In a recent article in People's Democracy, Karat wrote, 'After the burst of the real estate bubble and the financial crisis in the United States, one would have expected this ardent advocate of financial sector reforms to rethink. But that has not happened.'
Union Finance Minister P Chidambaram on Saturday asked software graduates to give importance to communication skills in English besides a good technical knowledge as premier companies like Infosys looked for students with ability to communicate in English well.
Union Finance Minister P Chidambaram regretted that there has been stiff resistance from certain quarters over the reservation bill, which would ensure 33 per cent seats for women in Parliament and legislatures. Chidambaram said this while releasing the book Karmic Divas -- stories of eight powerful and wealthy women written by Prerna Kaul Misra and printed by Vitasta publications.
Congress sources have told rediff.com that Union Finance Minister P Chidambaram or External Affairs Minister Pranab Mukherjee will replace Shivraj Patil, who resigned on Sunday, as home minister. The announcement is likely to be made in the next couple of hours after the all-party meeting called to discuss the Mumbai terror attacks.
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