-The Hindu The question came in response to the Attorney General’s statement that the government and the RBI had ‘acted in consultation’ to notify demonetisation in November 2016 The Supreme Court on Monday asked the government whether it would have brushed aside objections from the Reserve Bank of India (RBI) had the Central bank opposed the demonetisation policy. The question from the Constitution Bench led by Justice S. Abdul Nazeer came after Attorney...
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Number Theory: The state of the Indian economy in four charts -Roshan Kishore
-Hindustan Times What do the latest numbers, analyst forecasts, and high-frequency data tell us about the state of Indian economy? The National Statistical Office (NSO) released GDP numbers for the quarter ending September 2022 on November 30. GDP growth for the second quarter is 6.3%, which is exactly what the Monetary Policy Committee (MPC) of the RBI projected in its September resolution. What do the latest numbers, analyst forecasts, and high-frequency data...
More »RBI reluctant to hand out NBFC licence to fintechs -Hamsini Karthik
-The Hindu Business Line PhonePe - ZestMoney deal to set precedence for fintechs to explore backdoor entry into the lending business Despite three months of engagement and continued discussions with the banking regulator, fintechs may not have cracked the code yet to operate as non-bank lenders. Highly placed sources say the Reserve Bank of India is reluctant to issue non-bank finance company or NBFC licences to fintechs. PhonePe, Razorpay, BharatPe, Khatabook, OkCredit and...
More »‘Did RBI inform govt of impact on circulation?’: SC asks govt on demonetisation -Abraham Thomas
-Hindustan Times Under the Reserve Bank of India (RBI) Act Section 26(2), a recommendation by the RBI’s Central Board precedes any decision to demonetise any series of currency notes. The Supreme Court on Friday asked the central government if the Reserve Bank of India (RBI) had informed it that demonetisation will result in the withdrawal of over 86% currency in circulation. Making a query to the Centre as part of its consideration of...
More »Explained: RBI’s concerns on slow deposit growth -Saptaparno Ghosh
-The Hindu Why did senior officials of the apex banking regulator meet the MD and CEOs of public and certain private sector banks? What are the possible reasons for low deposit growth? What is the net status of non-performing assets? Has credit growth risen when compared to the year-ago period? The story so far: The Governor, Deputy Governor and a few other senior officials of apex banking regulator, the Reserve Bank of...
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