-PTI Finance Minister Arun Jaitley today ruled out privatisation of public sector banks as a response to the Rs 11,400-crore fraud hitting Punjab National Bank, saying the move may not be politically acceptable. Speaking at an event, he said a lot of people have started talking of privatisation in the aftermath of the PNB fraud. “This (privatisation) involves a large political consensus. Also, that involves an amendment to the law (Banking Regulation...
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Currency circulation in India at 99% of pre-demonetisation level: RBI data -Alekh Archana
-Livemint.com Mumbai: Currency in circulation in India stood at Rs17.78 trillion as on 16 February, reaching 98.94% of the pre demonetisation level, according to the latest data released by the Reserve Bank of India (RBI). On 4 November 2016, the latest data released by the central bank before high-value banknotes were invalidated on 8 November, the Currency with the public was Rs17.97 trillion. Subsequently, it dropped to a low of Rs8.98 trillion...
More »Lessons from Thailand: For universal health coverage, invest in public systems and human resources -T Sundararaman
-Scroll.in Thailand spends as much of its GDP on health as India, yet it offers the entire range of healthcare services to all citizens for free. Finance Minister Arun Jailtley’s Budget speech this year and the subsequent media coverage projected insurance coverage as being almost synonymous with universal health coverage. Nothing could be further from the truth. Health insurance is only a small part of ensuring universal health coverage. Besides, to...
More »15 months after demonetisation, RBI still processing returned notes
-PTI RBI said in the report, for the year ended June 30, 2017, that only Rs 16,050 crore of the Rs 15.44 lakh crore in old high denomination notes had not returned The RBI has said that Rs 500 and Rs 1,000 notes, returned to banks when the government demonetised high-value Currency 15 months ago, are still being “processed for their arithmetical accuracy and genuineness”. This is being done in an...
More »India Economic Survey 2018: Arvind Subramanian says economic revival underway; 4 key takeaways -Sushruth Sunder
-The Financial Express India Economic Survey 2018: Chief Economic Advisor Arvind Subramanian says that the Indian economy is showing robust signs of recovery and a series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75 percent this fiscal and will rise to 7.0 to 7.5 percent in 2018-19. Addressing media in the press conference post release of the economic survey, CEA Arvind Subramanian noted...
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