The chairman of Parliament’s Public Accounts Committee, K V Thomas, on Monday said a meeting with finance ministry officials has been deferred to February 10 in view of the Budget preparations but Reserve Bank of India governor Urjit Patel will appear before it as per schedule on January 20 on the demonetisation issue. The PAC had asked Patel and finance ministry officials to appear before the committee on January 20. "The meeting is scheduled for January 20 and RBI governor Urjit Patel ... Rediff.com, 2 hours ago
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Amid fears of a decline in the country’s gross domestic product, former prime minister Manmohan Singh cautioned the people on Wednesday that the worst was yet to come in the wake of demonetisation which he termed as a ‘disaster’. In his address at the 'Jan Vedna' conclave, Singh termed demonetisation as a ‘disaster’ and said things have gone from bad to worse and that the worst was yet to come. He dismissed as 'hollow claim' and (Prime Minister Narendra) 'Modi's ...Rediff.com, 4 days ago
Setting the tone for Congress’ campaign in assembly polls in five states, party vice president Rahul Gandhi on Wednesday launched a no holds barred attack on Prime Minister Narendra Modi, accusing him of instilling fear among people and wrecking the economy through demonetisation, while asserting that the Congress will unseat the Bharatiya Janata Party from power in 2019. A day-long national convention, called in the wake of demonetisation, saw top Congress leaders including former prime ...Rediff.com, 4 days ago
Strongly condemning Prime Minister Narendra Modi’s demonetisation move and its effects, Congress president Sonia Gandhi’s son-in-law and businessman Robert Vadra on Monday said the government has reached a level of desperation to overcome the blunder of the drive. “The government seems to have reached its levels of desperation to overcome the initial blunder it created, through the unplanned and unthought process of demonetisation,” Vadra said in his Facebook post. ...Rediff.com, 1 week ago 'PM Modi's demonetisation move is despotic' Rediff.com, 1 month ago
While RBI may cut rates by 25 basis points in the February policy review, global monetary policies hold the key to much of the financial assets flow in 2017, reports Anup Roy/Business Standard from Mumbai. Movements in bond and currency markets in 2017 will be dictated by the global trends, say experts. Global bond yields and crude oil prices will directly impact local bonds, whereas the rupee would take cues from the stock market and the dollar. If crude oil prices continue to firm up and ...Rediff.com, 1 week ago
That's all it takes to protect an institution -- just one person with no past and no greed for the future, says Shekhar Gupta. The eyes of the devoted plagiarism hunters would light up if they put this column to the test of their forensics. Old readers of this column will also find this heading and strapline familiar, and for good reason, as this is almost precisely what we had used on another Saturday, July 31, 2010. So you could still be charged, if not with being pompous -- as in ...Rediff.com, 2 weeks ago
The Reserve Bank of India has asked banks to report details of deposits of old Rs 500/1,000 notes to it after the close of banking hours on Friday, which is the last date to accept the invalid currency. “With the closure of the facility of exchange of SBNs (defunct notes) as at the close of business on December 30, 2016, all banks should report information on collection of SBNs on December 30, 2016, itself at e-mail,” the central bank said in a notification. All lenders, including ...Rediff.com, 2 weeks ago RBI to issue new Rs 20, Rs 50 notes soon Rediff.com, 1 month ago SC refuses to stay note ban, but warns against 'surgical strike on people' Rediff.com, 2 months ago Note-ban not a yagna but a forest fire, alleges Congress Rediff.com, 2 weeks ago
About Rs 15 lakh crore of high-value notes were scrapped, against which RBI has managed to supply roughly Rs 4 lakh crore worth of notes in the market so far, Anup Roy/Business Standard reports from Mumbai. IMAGE: The direct impact of demonetisation is wastage of time and productivity as people stood in queues outside cash vending machines and banks. Photograph: Sahil Salvi Even if India manages to sail through the current financial year with a minor dent in its economic growth rate, ...Rediff.com, 1 month ago With RBI unmoved on rates, pressure could build on banking stocks Rediff.com, 1 month ago RBI's double whammy: Supplying fresh notes, coping with flood of bank deposits Rediff.com, 1 month ago How will RBI handle the huge cash deposits? Rediff.com, 2 months ago
The government on Wednesday appointed Viral V Acharya, a New YorkUniversity economics professor who once called himself ‘poor man’s Raghuram Rajan’, as new deputy governor at the Reserve Bank of India. The 42-year-old Acharya’s appointment for a three-year tenure was cleared by the Appointments Committee of the Cabinet. He is taking over at a time when the central bank is facing criticism for repeated changes in the rules related to deposit and withdrawal of money, ...Rediff.com, 2 weeks ago What the government overlooked about the economy Rediff.com, 1 month ago
Hopefully, the grey world of central banking in a nation hit by demonetisation, will lighten up with some of his notes soon.Anup Roy profiles Viral Acharya, the new RBI deputy governor, a man of many parts and many interests. IMAGE: Viral Acharya, the RBI deputy governor-elect, is a "workaholic," who does research on the phone, email and Skype video chats." Viral Acharya, professor at New York University's Stern School of Business, will take over as deputy governor of the Reserve Bank ...Rediff.com, 2 weeks ago
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