-The Hindu Business Line Remonetisation taking place at a good pace, RBI Governor tells House panel New Delhi: RBI Governor Urjit Patel told the Parliamentary Standing Committee on Finance that the non-availability of the currency verification processing system (CVPS) machines is one reason why the counting of demonetised notes is not yet done. Though he painted a rosy picture of the digitisation process in the country post-demonetisation before the panel, figures presented by...
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IRDAI issues new norms for mediclaim policies -Rachel Chitra
-The Times of India CHENNAI: Many customers only realise at the time of making a claim that their health insurance policy does not cover certain medical conditions or ailment. Policy holders usually depend on what has been told to them by their insurance agents, who sometimes overstate the coverage. To prevent such cases, the Insurance Regulatory and Development Authority of India (IRDAI) has asked insurers to group together all policy exclusions...
More »Retail inflation dips to record low in June, IIP slows in May
-The Times of India NEW DELHI: Retail inflation dipped to a record low in June on the back of sliding food prices, while industrial output growth slowed in May as manufacturing remained sluggish, mounting pressure on the RBI to cut interest rates when it reviews monetary policy on August 2. Data released by the Central Statistics Office (CSO) on Wednesday showed retail inflation, as measured by the consumer price index (CPI), rose...
More »Farmers need remunerative prices, not debt waiver, to end rural distress -TK Arun
-The Economic Times Farmers are agitated. Loan waivers have not stemmed protests or farmer suicides. This is a multidimensional problem and also a huge political opportunity for parties that can think constructively. Waiving loans is bad policy. It adds to the fiscal stress of states, straining under the electricity utility debt they have taken over. The states would undo the Centre’s hard-wrought fiscal discipline, scaring rating agencies. Waived loans bring little benefit to...
More »Parliamentary panel to question RBI Governor Urjit Patel on demonetisation today
-The Indian Express The panel members have planned to ask Urjit Patel questions regarding RBI's preparedness for digital transition. They will also question about how much money has come back into the system after the November 8 decision to place the existing currency notes of Rs 1000. Reserve Bank of India (RBI) Governor Urjit Patel will appear before the Parliamentary panel on Wednesday to respond to clarifications demanded by the panel on...
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