-The Hindu Unlike surgical strikes and raids in Pakistan, the proof of the impact of demonetisation is evident. Prime Minister Narendra Modi often speaks of his ‘bold decisions’ but he rarely publicises the boldest of all his decisions in this entire career — demonetisation. The abrupt announcement on November 8, 2016 to invalidate currency notes of ?500 and ?1000 was indeed decisive. But during this campaign, that is unlikely to be the...
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Pain points for the MSME sector -B Yerram Raju
-The Hindu Business Line The RBI has its task cut out as it sets about addressing the sector’s credit and viability concerns A debate on MSMEs has come alive due to the Centre’s insistence on a regulatory reprieve for the beleaguered sector post GST and post demonetisation. The RBI at its last Board meeting that Urjit Patel chaired, promised to set up a Committee on the MSME sector by the end of...
More »Factors underlying the Centre-RBI conflict -Narendar Pani
-The Hindu Business Line Realising that DeMo pulverised MSMEs, an anxious Centre wants to hurriedly make amends. But loan disbursals may not help The spat between the government and the RBI is primarily in the realm of macroeconomic issues like the size of the reserves the central bank should hold and the methods of monitoring loans that could go bad. Yet, the political intensity of the government’s moves cannot be missed. Apart from...
More »PMO's refusal to disclose Raghuram Rajan's letter on bad loans is not legal, says CIC
-Scroll.in The PMO has a ‘moral, constitutional and political duty’ to reveal to citizens who are the defaulters and what action has been taken against them, it said. The Central Information Commission has directed the Reserve Bank of India and the Prime Minister’s Office to disclose the list of wilful defaulters as well as a letter on bad loans written by the former RBI Governor Raghuram Rajan to the Centre, PTI reported...
More »CIC pulls up PMO and RBI, asks to disclose wilful defaulters list, Raghuram Rajan's letter on bad loans
-The Indian Express Saying that the stand taken by the PMO will not serve any public interest, Acharyulu said, "If the RBI does not respect the SC orders and denies the citizens right to information, it will result in the perpetuation of a financial regime of secrecy." With the Reserve Bank of India’s board meeting set to be held Monday, the Central Information Commission (CIC) has once again directed the Prime Minister’s...
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