-The Indian Express Capping withdrawals for Yes Bank depositors is foolish for two specific reasons, particularly when the economy is floundering with growth rates of around 5%. On March 5, the RBI imposed a cap of Rs 50,000 on withdrawals by Yes Bank depositors. A day later, Finance Minister Nirmala Sitharaman assured depositors that their money was safe. In the days and weeks running up to the RBI decision to supersede the Yes...
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SEBI relaxes FPI norms
-PTI New Delhi: Easing the regulatory framework for foreign portfolio investors, SEBI has simplified KYC requirements for them and permitted them to carry out off-market transfer of securities. Besides, the regulator has broad-based the classification for foreign portfolio investors (FPIs) and simplified their registration process. The notification comes after the board of SEBI in August approved a proposal to simplify the regulatory norms for FPIs. The new regulations have been redrafted based on...
More »Prabhat Patnaik, an economist and former economics professor at the Jawaharlal Nehru University, interviewed by Kaushal Shroff (The Caravan)
-CaravanMagazine.in In the budget unveiled in July, the finance minister Nirmala Sitharaman ambitiously claimed that India’s economy would hit $5 trillion by 2025. In the weeks that followed, the Central Statistics Office revealed that the gross domestic product growth rate for the April–June quarter fell to a six-year low of five percent; the Reserve Bank of India cleared a surplus transfer of Rs 1.76 lakh crore to the union government; and...
More »Poor recoveries under IBC can derail Centre's Rs. 70,000-cr recap plan -Radhika Merwin
-The Hindu Business Line Barring few cases, large haircuts of 70-90 per cent are continuing to hurt banks While the Centre’s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large accounts under IBC, this may achieve little. What is of more concern, is the paltry amount that banks have been realising from the resolution of accounts under IBC. A look at...
More »RBI warned of demonetisation impact on Indian economy, no effect on black money
-PTI RBI had met just two-and-a-half hours before PM Narendra Modi announced demonetisation on 8 November 2016 The government has always maintained that demonetisation did not have much impact on India's GDP growth New Delhi: The board of the Reserve Bank of India (RBI), which included the present governor Shaktikanta Das as a director, had warned of short-term negative impact of demonetisation on Indian economy and observed that the unprecedented move will not...
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