Last weekend, Subhash Garg, Secretary, Economic Affairs, and a member on the board of the Reserve Bank of India, tweeted that reports of the government seeking a huge transfer of surplus funds were not true. His tweet came amid conflict between the government and the RBI on several issues, which has seen a public spat … Continued
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The Central Board of Directors of the Reserve Bank of India (RBI) has recently been a topic of much discussion, in the light of both the recent public tussle between the RBI and the Finance Ministry and the second anniversary of demonetisation. What is the RBI Board? The RBI Board is a body comprising officials … Continued
The rankings serve as a trusted ready-reckoner for foreign investors looking to invest in a country India’s leap in the World Bank’s Ease of Doing Business rankings this year has slipped under the radar, in the cacophony over demonetisation and the RBI-Centre spat. The country has, in fact, been one of the biggest ‘improvers’ in … Continued
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the following: 1. “In-principle” approval for leasing out six airports of AAI viz. Ahmedabad, Jaipur, Lucknow, Guwahati, Thiruvananthapuram and Mangaluru for operation, management and development under Public Private Partnership (PPP) through Public Private Partnership Appraisal Committee (PPPAC). 2. Constitution of an Empowered … Continued
In the run-up to the general election next year, the Centre has announced an important credit stimulus package for micro, small, and medium enterprises (MSMEs). What are the recent measures? 1. Among the many sops doled out under the new scheme, Prime Minister Narendra Modi has promised the sanction of business loans of up to … Continued
The Central Vigilance Commission (CVC) recently came out with a report that analyses the top 100 bank frauds in 13 sectors. Bank frauds have been in public focus of late because of the cases involving Vijay Mallya, Nirav Modi, and other leading businessmen who have gone fugitive. The CVC report, however, does not name any … Continued
This is one of the key issues in the disagreement between govt and RBI. What does the central bank consider in making decisions? How does the surplus transfer system work in other major democracies? Then RBI Governor RaghuramRajan with current Governor Urjit Patel (then deputy Governor) in Mumbai in 2015. (Archive) On his last day … Continued
Measures for MSME Easy loan: Prime Minister Narendra Modi announced 12 measures to boost the Micro, Small and Medium Enterprises (MSME) sector, including a portal that would enable the units to get a loan in just 59 minutes and interest subvention of 2%. The Prime Minister said firms registered on the Goods and Services Tax … Continued
1 lakh crore mark attained As the Central government struggles to contain its widening fiscal deficit, there is some good news on the revenue front. Goods and services tax (GST) collections in the month of October crossed the Rs. 1 lakh crore mark, with total collections for the month standing at Rs. 1,00,710 crore. Reasons … Continued
India’s non-banking financial companies (NBFC) sector — also known as the shadow banking system that provides services similar to traditional commercial banks but outside normal banking regulations — is passing through a turbulent period following a series of defaults by Infrastructure Leasing and Financial Services (IL&FS) and the subsequent liquidity crunch. The liquidity squeeze faced … Continued