-The Hindu ‘Time to build consensus on not making such poll promises’ Reserve Bank of India Governor Urjit Patel on Thursday stressed the need for building a national consensus on loan waiver schemes. Addressing a press conference here, he said this was needed so that promises such as loan waivers are not made during elections. “We need to create consensus so that such loan waiver promises are eschewed. Otherwise, sub-sovereign fiscal challenges in...
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Par panel to summon RBI Governor Urjit Patel again on April 20
-PTI Besides Patel, Economic Affairs Secretary Sashikanta Das and Financial Services Secretary Anjuly Chib Duggal are also being asked to appear before the Committee. A Parliamentary panel has decided to summon Reserve Bank Governor Urjit Patel again to explain how much of the junked currency has been deposited in banks post note ban and the progress made in remonetisation. The meeting of the Standing Committees on Finance, headed by former cabinet minister M...
More »Must follow our order: EC to RBI on raising cash limit
-The Indian Express EC had asked the central bank to relax the weekly bank withdrawal limit from Rs 24,000 to Rs 2 lakh for candidates contesting elections in Uttar Pradesh, Uttarakhand, Punjab, Goa and Manipur. New Delhi: The Reserve Bank of India (RBI) has shot down the Election Commission’s (EC) proposal to relax the weekly withdrawal limit for those contesting the Assembly elections, prompting an angry reaction from the poll panel, which...
More »Give answers on note ban in writing, an unhappy PAC tells RBI governor -Amit Agnihotri
-Business Standard The governor did not give specific answers on who initiated the note ban New Delhi: Unsatisfied with the responses of Reserve Bank of India (RBI) Governor Urjit Patel to specific queries on demonetisation, the Public Accounts Committee (PAC) of Parliament on Friday asked him to furnish written replies to the concerns expressed by the members within two weeks and appear before the panel again. Patel, along with Deputy Governor R Gandhi...
More »System not yet ready for cashless economy, RBI Governor tells PAC -AM Jigeesh
-The Hindu Business Line 'RBI working on cutting transactions costs on digital payments' New Delhi: RBI Governor Urjit Patel, who appeared before the Public Accounts Committee looking into demonetisation and its impact on monetary policy, told the panel that the country’s infrastructure is not ready for a cashless economy. He assured the panel that the RBI is working out ways to reduce transaction costs involved in digital payments. As was the case when he...
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