Govt rethink on FSDC role may undermine regulators' powers

Referring to the statement made by Dr D Subbarao, Governor Reserve Bank of India that Islamic Banking is not possible in the present Indian banking regulations, H Abdur Raqeeb, General Secretary, Indian Centre for Islamic Finance (ICIF), in a letter to Dr ...

Raghuram Rajan, the chief economic advisor to Finance Minister P Chidambaram and Arvind Mayaram, Secretary, Department of Economic Affairs (DEA) are emerging as front-runners for the post of Governor, Reserve Bank of India. A post that will fall ...

Reserve Bank of India's (RBI) D Subbarao has strongly criticized the Financial Sector Legislative Reforms Commission's (FSLRC) recommendation to accord statutory status to Financial Stability Development Council (FSDC) and entrusting it with the ...

) chaired by Finance Minister P Chidambaram and attended by all regulators including RBI Governor D Subbarao on Monday. Earlier in the week, Commerce and Industry Minister Anand Sharma had advocated that gold import should be only for actual usage ...

Bankers are being "reckless" and "casual" towards lending, finance secretary Rajiv Takru said on Wednesday, blaming them for increasing bad loans. The government may increase the maximum penalty possible on banks for breaking rules to Rs.500 crore ...

Dollar strength weighs on Indian currency; finance ministry officials play down the rupee's movement Anup Roy | Joel Rebello The Indian currency closed at 58.15, down 1.9% from Friday's close of 57.06. Photo: Ramesh Pathania/Mint Also Read ...

Reserve Governor D Subbarao has strongly criticised the (FSLRC)s recommendations for statutory status to the (FSDC) and entrusting it with the responsibility of financial stability. The FSDC was created around 30 months earlier by the Union ...

The Finance Ministry today asserted there is no question of showing any flexibility or giving benefit of doubt to banks found to have indulged in irregularities following an expose by a portal. "There is absolutely no scope for benefit of doubt ...

NEW DELHI The Finance Ministry on Monday said the government could take more steps to reduce gold imports, which may include banning sale of the yellow metal by banks. More steps will have to be taken to reduce gold imports. The export-import policy ...