When India was divided in 1947, the RBI also grappled with a number of tasks that “posed several delicate problems”.
The consumer price index, the main policy target of the RBI, likely rose 1.87% in July from a year earlier, compared with an increase of 1.54% in June.
An RBI research paper revealed ‘unusual’ cash deposits totalling Rs 1.6-1.7 lakh crore during demonetisation.
An excerpt from Y.V. Reddy’s ‘Advice and Dissent: My Life in Public Service’ on his time as RBI governor.
As of July 21, 2017, credit growth has decelerated by Rs 1.5 lakh crore, a new historic low.
Food and beverages account for nearly half of the consumer price index basket and are largely dependent on the monsoons, nearly 70% of precipitation.
The partnership defies 20th-century notions of a public private partnership and offers a glimpse of the private sector tipping its hat to the sovereign function and prerogative in identifying and authenticating the beneficiaries of a digital service.
While the opposition parties called the variance in Rs 500 and Rs 2000 currency notes the “biggest scam of the century,” the Centre dismissed it as a “frivolous” issue.
Each Sunday, we bring you a selection of the past week’s multimedia stories.
The change marks the first rate cut since October 2016 and the interest rate is now at a six-year low.
The Nikkei/IHS Markit manufacturing purchasing managers’ index fell to 47.9 in July from June’s 50.9, its first reading below the 50 mark.
Reserve Bank of India data shows that as of March 2016, the non-priority sector bad loans stood at Rs 4.1 lakh crore.
The Reserve Bank of India is under pressure to cut its main policy rate beyond the 25 basis points markets have priced in for Wednesday’s policy meeting.
If the finance ministry is serious about restoring the health of the banking sector, it cannot afford to discriminate between those that won coal blocks and spectrum during the NDA rule and the other defaulting companies.
A weekly column on the sessions of parliament.
A weekly column on the sessions of parliament.
The central bank said that making the list public would “hurt the business climate in the country and endanger the jobs of thousands working in these entities”.
The consumer price index rose 1.54% in the 12 months through June, down from an increase of 2.18% in the previous month.
PricewaterhouseCoopers, convicted in the Rs 7,000 crore Satyam scam, had also audited accounts of Vijay Mallya’s firm and the Global Trust Bank, which collapsed.
Jaypee Infratech, Electrosteel Steels, Monnet Ispat, Alok Industries, ABG Shipyard and Jyoti Structures are also among the firms reportedly singled out.
The RBI said it has identified accounts which owe more than Rs 50 billion and in which at least 60% of the assets have been declared non-performing already.
While C. Rammanohar Reddy’s Demonetisation and Black Money tries to present a moderate view of demonetisation and its impact, what is missing is the way the impact is estimated and why official data may be lacking.
The latest refusal to cut rates, and the MPC’s decision to decline meeting with finance ministry officials before its deliberations on monetary policy, will be hailed by those who are interested in good governance.
Finance ministry officials were scheduled to meet with all six members of the monetary policy committee before its policy statement today, in a move that had raised worries over the MPC’s independence.
The MPC records the fact that during demonetisation there were “fire sales” of essential items that depressed prices. The unusually sharp fall in CPI inflation in April cannot be taken for granted.
As expected, the central bank struck a less hawkish tone in its policy statement released on Wednesday.
What analysts and investors are looking for this time is a less hawkish policy statement to reflect reduced fears of inflationary pressures.
Discounting loans, one of the primary grievances the CBI and stockbroker Sanjay Dutt have raised, by itself isn’t criminal or fraudulent. How do the allegations stack up?
The RBI refused to make the list of loan defaulters public despite an order by the Supreme Court in 2015 to make this information public.
At Axis Bank and Yes Bank, it appears that a single auditor of a member firm of Ernst and Young has overlooked gross NPAs of a staggering Rs 13,655 crore.
Over the weekend, the ransomware called ‘Wanna Cry’ hit systems in over 100 countries in one of the most widespread cyber attacks in history.
IDBI, which is almost 74% owned by the Indian government, had a net bad loans ratio of 9.61% as of December and will be the first lender to come under the RBI’s central bank curbs.
The RTI backlog at the central bank had risen to 38,884 applications at the end of 2015-16 – three times the number of applications received by it during the year.
Bankers and analysts said the changes to legislation did not do enough to resolve the complex insolvency process or a much-needed bank recapitalisation.
Resolution of stressed assets is fundamentally a commercial decision. Is it really the RBI’s job to direct the banks on how to restructure stressed assets?
The markets argue that pursuing a specific 4% target takes away the flexibility needed in an economy that must grow by at least 8% to allow for full employment.
The ordinance to amend the Banking Regulation Act will give a big boost to the government’s efforts to cut down on non-performing assets in the banking sector.
The three year-long CBI investigation into Jatin Mehta’s Winsome Diamonds has finally come to an end. While there are a number of questions still remaining, will the guilty be punished?
The insurance coverage in 2015 was 22.3%, with a government expenditure of Rs 2,955 crore. But by spending 4.5x since, how does the government admit to a coverage of only 23%?
The discourse around non-performing assets (NPAs) remains largely focused on private corporations, while NPA concentration in public sector undertakings flies under the radar of scrutiny.