Retail inflation soared to 5.39 per cent in April on higher food prices, reversing a downward trend seen in recent months.
SAARCFINANCE is a “network of central bank governors and finance secretaries of the SAARC region”. The South Asian Association for Regional Cooperation (SAARC) was set up as a regional bloc in 1985.
Review outdated laws and frame policies to help equip Indian firms to take advantage of a possible global economic rebound.
What should matter for another term for Rajan is not if his policy choices or actions have been good or bad, but that the chosen reform path, endorsed and agreed to by the government, is persisted with.
When asked whether RBI may levy processing fee on the entities which have pulled out, Mundra said the current regulation does not give scope of charging a processing fee.
“He is very well respected across the world. He is a very capable person, very well respected person and I think if his term is extended then its a good thing for India,” Godrej told reporters.
Mundra also warned banks against going fully into retail business saying “retail is not the panacea.”
It is not that everything that Rajan has done is blemishless. The judgement of many of his moves, we will have to make a few years down the line.
Subramanian Swamy, in his letter to PM Modi, said: Raghuram Rajan is in this country on a Green Card and “therefore mentally not fully Indian.”
The Reserve Bank of India (RBI) placed a draft circular on its website in regard to foreign portfolio investments in unlisted corporate debt securities and securities debt instruments.
To a question whether Rajan is getting an extension, he quipped “these are not issues which we discuss through the media.”
An amount of Rs 1,30,156 crore was classified as NPAs in public sector banks for borrowers exceeding Rs 500 crore as on December 2015, according to finance ministry data.
The Reserve Bank of India has allowed foreign banks higher shareholding in private sector lenders in the country under exceptional situations.
FY16 witnessed a 3.5 fold jump in remittance over the previous year from $1.3 billion to $4.6 billion.
“In my opinion, he should be removed as early as possible,” Swamy said.